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October 2008 Newsletter



It’s spring and that means Christmas is around the corner… yes, I know, how can it be that time already!!!!! This also means that now is a good time to start planning and book in any rejuvenation work on your properties if you want the works to be done before Christmas. Please ring us in the next few weeks if you need work done before the Christmas rush is fully upon us (it has already started….)

In this edition, we look at what is happening to the Melbourne property market, introduce Aurora Finace and provide you with an update as to the happenings of Urban Sensations.

So sit back, feel the sun, hear the birds and enjoy what this newsletter has to offer.

Rosalie Griffiths
Managing Director


Here is some interesting information sourced from the REIV website …..
For the past three years the REIV has conducted a monthly survey of members - including residential, commercial and regional agents - to gauge sentiment in the property market.

The survey measures sentiment in a number of specific aspects of real estate practice: current number of enquiries, settlements, listings, transactions; and expectations for prices and turnover in the next three months. 

Agents are asked to indicate whether they feel these components have improved or worsened since last month, and their responses are aggregated to create an index.  A value greater than 100 indicates positive sentiment and one less than 100 demonstrates pessimism.

The index confirms that last year was a boom year, with the index remaining above 100 for the full 12 months.

In contrast the first few months of this year showed a shift as the median price dipped and interest rates increased.

In May this year - two months after the last rate rise - the market sentiment index hit 54.7: its lowest point in the three years we have conducted the survey.  This coincided with a drop in Melbourne’s house price − as shown in the REIV March quarter median prices.

Following the recent rate cut the mood has now picked up and the survey has measured a distinct improvement in terms of current prices and number of listings, and agents’ expectations for the next three months. 

By August the index had improved to 79.0, as five of the seven components of the index showed improvement.  The exception was the two components that measure the current number of listings and settlements, however, as we move into the peak spring selling season agents anticipate that these factors with also improve.

So what does this mean – property prices have dipped and will continue to be stagnant. Indeed the auction clearance rate fell by 6% this week in Melbourne despite the Reserve Bank cutting interest rates by a massive 1.00 % last week and the US turmoil just getting bigger (recession is a word that will be used for some time yet – interestingly though the word depression is just creeping into the media…..) the ride is set to get even more rocky. However rental yields continue to improve as interest rates become lower at the same time as rental demand continues to be exceptionally strong. A good time to be in the property market I think……

(source:, Oct 08)


At Aurora Finance we’re 100% focused on getting the most appropriate finance solution for you, our customer. We listen to you, so that we understand your needs and what your goals and aspirations are. When we’ve calculated your borrowing capacity, we’re then able to recommend loan products and structures that meet your needs, both now and into the future.

By putting you at the centre of our focus we can:

  • Help educate you about finance so that you can make informed and confident finance decisions
  • Assist you with more that finance, i.e. we help you to develop your ‘success team’ of quality professionals such as a lawyer, accountant, financial planner, valuer, quantity surveyor,
  • By taking a genuine interest in your welfare, we’re able to develop and maintain a strong relationship based on trust and integrity.


What is refinancing? Refinancing lets you change your home loan to suit your new circumstances or to consolidate other debts.

How does it work? When you take out a new loan, you use some the funds to pay out your nominated existing debts.

What types of things can be refinanced?

  1. Renovating a home/investment property or other home improvements,
  2. Paying off debts such as a personal loan, credit cards by rolling them into the home loan,
  3. Financing children’s education
  4. Often people refinance with a difference lender to get a more competitive interest rate

What are the benefits of refinancing? By refinancing smartly you are taking control and managing your money. With a lower interest rate for instance, your repayments may be lower and lower repayments can reduce mortgage stress. If you choose to keep the repayments at the higher level and have not increased the principal amount, you can save a substantial amount of interest in the long term.

Should I refinance? If done properly, refinancing a loan can save money but one needs to consider all the costs. The biggest cost to refinance may be the existing cost from the existing lender if you have not been in the loan for at least 3 years.

It’s important to work towards the achievement of your goals and to consider all the pros and cons

So, if you want a customer focussed approach to your finances, please contact;   Erika Anders at Aurora Finance Group
            P: 03 9636 0299 or M: 0418 174 745

Aurora Finance


More employment opportunities –project manager & handyperson required
As Urban Sensations continues to grow, we are seeking a project manager to assist with the day to day on-site activities. Co-ordinating tradespeople, checking the quality of work, ensuring that things get done on time and in a logical sequence. I am looking for;

  • a detailed orientated person who likes to get things done on time and budget,
  • someone who can communicate effectively with a wide range of people,
  • experienced in the building industry (you may in fact be a RBP),
  • has their construction industry red card

If this sounds like you or someone you know then please contact Rosalie on 0411 323 877 to discuss further or email your expression of interest and CV to

I am also still looking for a handyperson – someone who can prepare surfaces for painting and tiling to a high standard! Please contact Rosalie to discuss further – 0411 323 877.

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Are you interested in meeting other women who enjoy property – buying, selling, renting. Want to learn more about the property market. Come along to our next Women for Women in Property seminar. This is an informal gathering of women – the panellists will talk about their experiences in property – how they got to be in the property business that they are in. then it’s time for questions – in a friendly and supportive environment.

Women for Women in Property Seminar

Date & Venue: To be confirmed

Tune in to 3WBC (94.1FM) Radio…….

Rosalie is appearing as a guest on Mike McNamara’s regular “Bricks and Mortar” radio segment on Saturday 1st November at 11am. So tune in…….

Mike presents "Bricks and Mortar" 11AM fortnightly on 94.1 FM  [ next SEPT 6];  also streamed on Visit the following link for more information


Alterations to a two bedroom unit purchased several years ago as a long term buy and hold investment. Current tenants vacated. Objective – modern and clean feel, low maintenance, attractive to high quality tenants!

Hawthorn Glen Bathroom Before Hawthorn Glen Bathroom After
Before After
Hawthorn Glen Kitchen Before Hawthorn Glen Kitchen After
Before After


At the recent Design Expo we came across a new product – Granicrete. This is a concrete polymer product which has both internal and external applications. It can be applied directly over existing bench tops and ceramic basins, as well as over concrete driveways. You can create whatever pattern or colour you like! Fantastic when you want a new look for your kitchen, but don’t want to retile your splashback or you can’t actually remove your existing bench tops. Also great if your vanity basin is cracked or chipped, but you don’t want to replace it. This product was used on the bench tops in the Recent Urban sensations project – with stunning results. For more information go to

I’m not sure how many of you utilise the following website;
This website can provide a host of information – particularly if you are looking to buy a property and the contracts aren’t available. The best part is that most of it is free! If you want to quickly find out the residential zoning, where the property is located, folio number of the property (great when dealing with the council), information about the demographics of the area, whether there are any overlays on the property this is the website for you. All of this information is free – just click on the land chanel icon and then on the property report link. If you want the dimensions of the property, this information is available to – alas you will need to pay $5.50 for this report!!!!

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Contact Us

Urban Sensations
5 Wallis Ave
Glen Iris
Victoria 3146

Phone: +61 3 9809 2335
Fax: +61 3 9809 2335
Mobile: 0411 323 877