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If you’re looking for something interesting to read over the Easter break, this week’s State of the Nation will keep you busy. In this issue is an article about how one of Western Australia's biggest home builder companies has reported that nearly 10 per cent of its current clients were single women building on their own rather than with a partner! Also read an article about how Sydney’s north west has been identified as a growth hub. According to Senior Economist Jason Anderson, over the next three years the rental prices are forecasted to boost by 6.5 percent in areas such as Ryde and Putney. Despite such good news, another article identifies that many people with home loans are struggling to make repayments and it is suggested that the recent job losses are the cause.
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State Of The Nation Compiled By Kevin Lee of Smart Property Adviser
www.smartpropertyadviser.com.au E: [email protected] T: (02) 9980 1311 M: 0416 083 995
Disclaimer: This document is a compilation of recent articles published in the media. The media sources are quoted beneath their respective article capture. Smart Property Adviser does not claim to be the author of any articles included within this document.
Mining Women Dig Deep Into Buying In Western Australia
The mining boom has seen a spike in the number of single women choosing to build their own homes and go it alone. One of Western Australia's biggest home builder companies has
reported nearly 10 per cent of its current clients were single women building on their own rather than with a partner - double the number from 2011. 23 March 2013. More.
Reaping What We Have Sown Rising residential construction is an important element in the RBA’s game plan for 2013 & beyond. As mining-related investment plateaus, residential construction will need to step into the breach. Housing construction has a big employment multiplier. Yet first home buyer interest – which does not surprise us in least – is in decline. Investors, when it comes to new property, are showing little or no urgency – and who could really blame them. 26 March 2013. More. Discounts For Tenants
Struggling families are missing out on up to $3000 worth of savings, unaware they are eligible for rental assistance. The National Rental Assistance Scheme, which provides access to rental properties at discounts of at least 20 per cent, is available to single adults earning up to $44,835 and families with three children and a combined income of up to $106,598. 25 March 2013. More. Foreign Investment Builds
Offshore developers are building far more apartments in Melbourne than local operators, as conditions swing in their favour for the first time. Well
over half of the apartments released last year were from foreign interests, a trend that has accelerated dramatically over the past five years. 27 March 2013. More Renovating For Profit
If there was ever a lesson that renovating is a mugs' game – it was in the bitter disappointment of Mark and Duncan at The Block All Stars auction. Despite six weeks of hard work – and stress – the buyers just didn't fall in love with the fellas' quirky ideas. There was the fish tank (beautiful but requiring effort to maintain it) in the fireplace. 27 March 2013. More.
Cash Flow King Could Be Queensland
A combination of population growth, an undersupply of rental stock and strong infrastructure investment, driven by major resources projects is creating the perfect environment for finding positive geared properties. Crawford Property Group CEO Ryan Crawford said: “The market developments and resource demographics we’re seeing. 26 March 2013. More. Useless, Unusual Blocks Given Second Chance Landowners with seemingly useless blocks that are small, irregularly shaped or unable to be connected to services, making them impossible to develop, have been given a second change by the New South Wales Government. Planning and Infrastructure Minister Brad Hazzard says thousands of owners of what are colloquially dubbed ‘paper subdivisions’ could soon be able to sell up or finally build on their blocks. 26 March 2013. More. Two Laws Landlords Break Everyday
Hundreds of strata landlords are breaking the law. Make that thousands … Hell, make it tens of thousands – nobody really knows. What we do know is that it clearly states in the NSW Strata Act that
landlords have to give tenants a copy of their strata scheme's by-laws within seven days or cop a fine of up to $100. 25 March 2013. More. More Australians Seeking Advice Last month the FPA received more than 26,000 visits from Australians to its online Find a Planner directory, showing that demand is high for financial advice. At the same time last year the number was 18,487, and in January this year it received 14,862 visitors. FPA CEO Mark Rantall says there is still a huge untapped market, as only one in five Australians are currently receiving financial advice. 27 March 2013. More. NT Leads The Nation A year of truly staggering price growth has come to light in Darwin, with close to $80,000 added to the median house price. Following a tumultuous summer, economists and property observers can finally breathe a sigh of relief – at least they are better at being right than the meteorologists. This isn’t just because of the cyclones, bush fires and record temperatures that have been thrown the way of the weather bureau. 26 March 2013. More. Property Investors To Surge In 2013 This year has been hailed 'the year of the property investor' by one industry group, pointing to low interest rates and strong median rental yield. Smartline Personal Mortgage Adviser’s executive director Joe Sirianni said that interest rates are now below rental yields in many areas and will attract investment. 27 March 2013. More.
Issue # 032 March 29, 2013
State Of The Nation Continued…
E: [email protected] T: (02) 9980 1311 M: 0416 083 995 Disclaimer: This document is a compilation of recent articles published in the media. The media sources are quoted beneath their respective article
capture. Smart Property Adviser does not claim to be the author of any articles included within this document.
If you would like to voice your opinion on any article you have read in the State Of The Nation Newsletters or elsewhere that has concerned you, please send the article and your opinion on it to us and we will include it in a future issue of the State Of The Nation. Send your opinion to [email protected]
Agents Strive For ‘Honesty’ Reputation
Improving consumer relationships and customer service has been a priority for the real estate industry as it continued to weather the property market downturn last year. Real Estate Institute of Queensland CEO Anton Kardash revealed that
hard work had helped agents through a difficult period. 27 March 2013. More. Sydney’s North West Identified As A Growth Hub Hubs in Sydney’s north west have been tipped for significant growth on the back of an office development boom by a senior economist. Speaking at a Frasers Property conference, Jason Anderson, senior economist at property advisory MacroPlan Dimasi, identified Ryde and Putney as suburbs with the strongest investment potential, with young professionals driving demand in the area. 27 March 2013. More. Job Loss Worries More Borrowers
Mortgage stress is on the rise as Australians worry about losing their jobs. The latest Genworth homebuyer confidence index, which tracks the mood of people who own or are thinking of buying a property, found nearly a quarter of those with a home loan had problems meeting repayments. The result was up from 18 per cent six months ago, and reflected increasing concerns about unemployment and job security, Genworth chief commercial officer Bridget Sakr said. 27 March 2013. More.
Head East For Great Home Value The Perth Hills still represents some of the best value available for West Australians looking to enter the property market, experts say. Latest figures show Perth's
eastern corridor has posted the best growth in the state over the past decade, with Midvale the rising star, making it into the Top 10 metropolitan areas for price growth in the past 12 months. 26 March 2013. More.
Housing Affordability Rises For Eight Consecutive Quarter A recent surge in housing affordability is driven by earnings growth, interest rate cuts and weak price developments, according to the Housing Industry Association. The HIA-CBA Housing Affordability Index increased by 5.5 per cent in the December 2012 quarter, representing an 18.4 per cent advance on the same period in 2011. 26 March 2013. More.
Council Acts On Late Rates
Struggling businesses and homeowners owe Townsville City Council more than $1 million in overdue rates. The rates owed on 36 properties, 24 of which are investment or commercial properties, total $1,067,881. The council yesterday approved a recommendation to begin sale proceedings for properties with outstanding debts after all recovery options have been exhausted. 27 March 2013. More.
Perth Leads Modest House Value Gains In February: Residex
Median house values lifted almost 1% over February with Perth and its accompanying WA country market the strongest performers, according to the latest housing data from Residex. The February figures suggest the housing market is gathering steady momentum with Residex recording a 0.96% gain in February following a 0.61% quarterly gain. 27 March 2013. More.
Change Ahead For NSW Suburbs
The NSW government is looking to transform a large amount of land in eight different areas, with the first recently announced. Fourteen hectares of predominantly vacant and undeveloped land around North Ryde station is currently flagged for community feedback on plans to transform it into housing and employment, planning and infrastructure minister Brad Hazzard said. 25 March 2013. More. Beware CPD Myths, Brokers Warned
An industry association has told brokers to beware education providers peddling myths about CPD points. The FBAA has stated that some training providers have misrepresented the requirements surrounding continuing professional development. "With CPD being a fundamental requirement of most professions, there has been emergence of myriad of self-serving suppliers of CPD determined to portray their particular version or method of providing CPD as the most ‘correct’ or nearest the ‘authorised’ requirement for CPD," the FBAA said. 27 March 2013. More.
Controversy Corner
Warren Rodwell ‘Refusing To See Wife’ Freed Australian kidnap victim Warren Rodwell is reportedly refusing to see his Filipino wife, Miraflor Gutang. Mr Rodwell, who married Ms Gutang shortly before his kidnapping, has reportedly banned her from seeing him despite claims she sold her house to pay his $94,000 ransom. 27 March 2013. More.
Some Parting Advice
“I should warn you upfront that greed and the seduction of easy money can, and do, interfere with becoming wealthy and financially
wise.”
Until Next Time… Kevin Lee
www.smartpropertyadviser.com.au
