OCTOBER 2022 NEWSLETTER
A WORD FROM OUR DIRECTOR
Wow… two months until we hit Christmas. What a fast-moving year it has been for everyone. The Bendigo real estate market has slowed down like most parts of Australia after two years of pretty hectic times. What does this mean? In short, there has been a slight adjustment in median price – at this stage it is hard to quantify, but we feel about four of five percent in the past few months which was expected. I feel Bendigo will remain pretty solid moving forward as historically our median price remains quite stable. This is partially driven by a strong rental market which again is in short supply keeping demand and prices very stable; added to this, we have plenty to look forward to with the new Law Courts, Gov Hub and the great news being one of the four regional cities to house the Commonwealth Games in 2026 which is a huge boon for Bendigo. Listings have tightened up, however we are still listing as many as we did before the boom, there aren’t as many looking but still buyers looking around – we are still selling most of our listings within four or five weeks and we are sitting strong compared to our piers having consistently the most sales over a 30-day period for the past three months in Bendigo and surrounds. The rental market has remained solid with a consistent short supply of rental housing in Bendigo keeping prices stable. A major contributor to this shortfall is the minimum standards requirements which is in full-swing now, many properties in the lower end of the rental market have become vacant and are being offered for sale which is driving the rental shortage and will continue for another six to nine months. Catherine Beecroft and her team have been working hard to get through the changes making the final transition in March 2023 as seamless as possible with over 85% of our managed properties meeting minimum standards already. Overall this have been going quite well, we have grown a little more with Ash and Paynton joining out team, we have made some major administration changes which have taken some getting used to and we have plenty on moving towards Christmas. Movember, Bendigo’s Biggest Ever Blokes Lunch, school fetes and Christmas functions will play big parts in our day-to-day happenings. Hopefully we can warm up nearing the end of Spring after a fairly wet October and enjoy some welcome warmer weather.
MINIMUM STANDARDS
For all new rental agreements (leases) the rental provider (landlord) needs to make sure the property meets basic minimum standards.
These standards apply to rental agreements that started from 29 March 2021, including earlier fixed term agreements that rolled over into periodic agreements from that date. A fixed term agreement is for a set amount of time – for example, a 12-month agreement. Periodic agreements do not have an end date and are usually on a month-to-month basis.
Locks
All external entry doors, other than screen doors, that are not able to be secured with a functioning deadlock must be fitted with a lock that is operated by a key from the outside.
Exceptions are:
• Heritage listed properties where the request for permission to change locks has been refused
• Public lobby doors which open onto common property
Bins
A rubbish bin and a recycling bin must be supplied which are:
• Provided by the local council, or
• Vermin proof and compatible with local council collection
Toilets
Your home must have a toilet and it must be:
• In good working order and connected to an appropriate sewerage/wastewater treatment system
In a room or separate enclosed structure that is intended to be used as a toilet area, whether separately or as part of the bathroom or laundry
Bathrooms
Your home must have a bathroom and it must:
• Be connected to a reasonable supply of cold and hot water
• Have a washbasin
• Have a shower or a bath
If there is a shower, the shower head must have a 3-star water efficiency rating unless one:
• Cannot be installed, or
• Would not work effectively due to the age, nature, or structure of the plumbing
If a 3-star rated shower head cannot be installed, one with a lower star-rating can be installed.
Kitchens
Your home must have a dedicated area for cooking and food preparation that has:
• A sink in good working order that is connected to a reasonable supply of hot and cold water
• A cooktop in good working order with 2 or more burners
If there is an oven, it must be in good working order.
Heritage exception
There is an exception for heritage listed properties where the request for a permit to make the required changes has been refused.
Laundry
If laundry facilities are present, they must be connected to a reasonable supply of hot and cold water.
Structural soundness
Your home must be both structurally sound and weatherproof. This includes all shedding.
Mould and dampness
Each room in your home must be free from mould and damp caused by, or related to, the building structure.
Electrical safety – standard starts in 2023
This minimum standard starts from 29 March 2023.
From that date, any property must have all power outlets and lighting circuits connected to a circuit breaker and a residual current device that complies with Australian standards.
Window coverings
This minimum standard started from 29 March 2022.
From that date, any property must have curtains or blinds fitted to each window in any room that is likely to be used as a bedroom or living area.
The curtain or blind must:
• Be able to be opened and closed
• Reasonably block light
• Provide reasonable privacy
Windows
All external windows capable of opening must:
• Be able to be set in a closed or open position
• Have functioning latches to secure them against external entry
Lighting
Interior rooms, corridors and hallways are to have access to sufficient light, whether natural or artificial, appropriate to the function or use of those rooms.
All habitable rooms must have access to sufficient natural light during daylight hours and sufficient artificial light during non-daylight hours.
Heritage exception
There is an exception for heritage listed properties where the request for a permit to make the required changes has been refused.
Ventilation
All habitable rooms, bathrooms, shower rooms, toilets, and laundries must have ventilation which meets the Building Code of Australia ventilation standards.
Heating
Minimum standard from 29 March 2021
The main living room of your home must have a fixed heater that is in good working order – that is, not a portable heater. An existing fixed heater is not required to be energy efficient.
If there was no fixed heater in the main living room and one needs to be installed to meet this standard, it must be energy efficient. However, for class 2 buildings, such as an apartment building, the heater does not need to be energy efficient if it would be unreasonable to install such a fixed heater.
Minimum standard from 29 March 2023
From 29 March 2023 any property must have a fixed heater that is energy efficient in good working order installed in the main living area of the home. However, for class 2 buildings, such as an apartment building, the heater does not need to be energy efficient if it would be unreasonable to install such a fixed heater.
Energy efficient heaters
An energy efficient heater is:
• A non-ducted air conditioner or heat pump with at least a 2-star energy rating
• A gas space heater with at least a 2-star energy rating
• Ducted/hydronic heating with an outlet in the main living area
• A domestic solid-fuel burning appliance
To find out more information please contact one of friendly Property Managers
BENDIGO'S BIGGEST EVER BLOKES LUNCH
Bendigo's Biggest Ever Blokes Lunch will be held on the 18th of November at the Red Energy Arena. Funds raised will support Prostate Cancer Foundation of Australia and Bendigo Health. For more information or to book your tickets CLICK HERE
BENDIGO PROPERTY INVESTMENT SEMINAR
Join us and the teams from the Bendigo Bank and Strategem on Wednesday the 16th of November for an update on Bendigo’s property market and the various steps you can take to purchasing your own investment property.
We’ll cover all the important topics such as:
▪️ Pre-Approval
▪️ Using a Deposit
▪️ What Is Equity?
▪️ Bendigo Complete Home Loan
▪️ Investing in the Right Home
▪️ Property Management
▪️ Tax Benefits
▪️ Investment Structures
▪️ Insurance Considerations
There will also be plenty of time for all your questions to make sure you leave feeling informed and empowered to start your property journey. Complimentary drinks and snacks will also be provided on the night. *THE EVENT IS SOLD OUT HOWEVER YOU CAN JOIN THE WAIT LIST TO ATTEND THE EVENT ONLINE! SIGN UP
MOVEMBER
For the month of November six of the PH Property Team will be growing a mo, five of us will be walking/running a combined 330km and Brad will be swimming 2km a week. If you would like to donate or view what each individual members goals are, you can do so by visiting our team page HERE👇
TEAM GRACE - FIGHTING A-T WITH GRACE
We had the pleasure of helping out with Team Grace Fundraiser by running the auction on the night. $62,841 was raised on the night, a tremendous effort to everyone involved. If you would like to make a fully tax deductible donation to help fund the research into Ataxia-telangiectasia, then click here 
2022 WORLD BLACKBALL CHAMPIONSHIPS
Congratulations to Xavier Daw who won the U18 World Championship and also to the Australian Blackball team. What a terrific effort from you all we are proud to have sponsored the team.
WELCOME ASH
Energetic, hardworking and determined, Ash has an extensive knowledge of the local area having been born and educated in Bendigo. Prior to moving interstate for her basketball & then starting her young family, she gained lots of experience working in the Bendigo property market in Sales. Always approachable, an excellent communicator and negotiator, Ash thrives in a supportive team environment and is driven by an authentic desire to ensure clients have a great experience and achieve the best results. She enjoys watching her kids play sport and is still very connected to the local community, especially the Bendigo sporting community where she’s currently coaching junior basketball and playing netball at South Bendigo in the BFNL.
WELCOME PAYNTON
Paynton was born and raised in Balranald but chose Bendigo to be her forever home in late 2018. Prior to starting her career in Real Estate at PH Property, Paynton had worked in the hospitality and automotive industry where she was extremely customer focused and driven to ensure she could do everything possible to ensure her customers were always her top priority. Outside of work, Paynton enjoys playing netball for Golden Square and Cricket for the Strathdale Maristians womens side. She also enjoys spending quality time with her two little boys which certainly keep her busy and on her toes.
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