Home Loans Australia News

Wed, 2 May 2007
Interest rates on hold: reprieve for homeowners
In a boon for the nation's mortgage belt, the Reserve Bank decided at its quarterly meeting on May 1 to leave the official cash rate unchanged at 6.25 per cent. The Reserve Bank's decision followed the publication of a much lower than expected March-quarter consumer price index, which showed inflation rose just 0.1 per cent for the quarter and 2.4 per cent for the year. This was well within the Reserve Bank’s target of 2-3 per cent. In a rare show of consensus, many economic forecasters are now predicting a further easing in inflation and most believe interest rates will stay on hold for the rest of 2007, particularly given the impending federal elections.

Mon, 05 November 2007
Show us the money,say Gen Y From Daily Telegraph
GENERATION Y workers are more money hungry than ever as they struggle to afford the lifestyle they want, according to a new survey.

Workers aged between 18 and 26 are career focused and want higher salaries to cope with rising costs of their first home, rent, HECS debt and petrol prices, according to the survey by employment site Seek.com.au.



Mon, 05 November 2007
Show us the money, say Gen-Y
GENERATION Y workers are more money hungry than ever as they struggle to afford the lifestyle they want, according to a new survey.

Workers aged between 18 and 26 are career focused and want higher salaries to cope with rising costs of their first home, rent, HECS debt and petrol prices, according to the survey by employment site Seek.com.au.

Overall, half of the 5000 respondents said salary was the most important factor in their job, rising from 44 per cent in 2005 and 2006.

Higher salaries was followed by quality of management (49 per cent) and job security (43 per cent).

"It's easy to criticise Gen-Y for desiring money, but who can blame them when they are at the stage in their lives where they are looking for independence and trying to establish themselves financially," Seek sales director Joe Powell said.

Daily Telegraph

Sat, 01 December 2007
Gen Y acts all grown-up
DESPITE their reputation, Generation Y workers have a longer-term view of life and are more responsible than initially thought, according to a survey.

A national survey of more than 1600 graduates by employment group Onetest found they were so serious about their futures that 48 per cent said they would consider putting extra money into their super funds once they started working.

"This is incredible for a group of people often referred to as the 'now' generation," said Onetest managing director Steven Dahl.

"They're proactively thinking about their lives at aged 55 and over."

Daily Telegraph



Sat, 05 January 2008
Rental Prices to Rise in 2008
INCREASING demand and lower vacancy rates will cause rents to increase during 2008, the Real Estate Institute of Australia predicts.

High demand for rental properties - caused by population growth and declining investor interest - suggests vacancy rates, running at an average 1.7 per cent, are unlikely to improve, it says.

Increases in median rents can be expected in all states, the institute says in its 2008 real estate market outlook released today.

The likely increases follow across-the-country increases last year with rents for three-bedroom houses increasing by an average of 12.6 per cent to September 2007.

The institute says rental affordability is already a significant issue in several cities, notably in Darwin where the median rent for houses is $440 per week and for other dwellings $340 per week.

Darwin is now the most expensive rental location in Australia, although Sydney and Canberra renters also pay $340 median weekly rent for two-bedroom other dwellings.

The cheapest rental location is Adelaide at $255 per week for a three-bedroom house and $205 per week for a two-bedroom dwelling.

From AAP

Sun, 03 February 2008
Hollywood Stars Farewell to Ledger
Heath Ledger's family and A-list friends gathered to pay tribute to the actor in a moving private service at a Hollywood studio yesterday.

Photos of Ledger-spanning his childhood in Perth, his most iconic big screen roles and his time as a doting dad to his daughter Matilda-were beamed on a large screen at the Sony Pictures lot in a 90 minute service yesterday.

Ledger's father Kim, mother Sally and sister Kate were joined by a large contingent of family,who had travelled from Australia to attend the ceremony in Culver City, alongside the actor's Hollywood friends and colleagues.

One guest said that the ceremony which he estimated was attended by 1000 people included touching-and often funny-speeches from Ledger's father,longtime agent,acting coach and director Todd Haynes,who helmed Ledger's most recent release "I'm Not There."

"It was a very loving tribute-emotional and loving," the guest said.

from Sunday Herald Sun

Thu, 14 February 2008
Valentine's Day in Asia
Thanks to a concentrated marketing effort, Valentine's Day has emerged in Japan and Korea as a day on which women, and less commonly men, give candy, chocolate or flowers. It has become an obligation for many women to give chocolates to all male co-workers. In Japan this is known as giri-choko (ëù×â«Á«ç«³), from the words giri ("obligation") and choko, ("chocolate"). This contrasts with honmei-choko (ÜâÙ¤«Á«ç«³); chocolate given to a loved one. Friends, especially girls, may exchange chocolate referred to as tomo-choko (éÒ«Á«ç«³); from tomo meaning "friend".

By a further marketing effort, a reciprocal day called White Day has emerged. On March 14, men are expected to return the favour to those who gave them chocolates on Valentine's Day. Originally, the return gift was supposed to be white chocolate or marshmallows; hence "White Day". However, lingerie and jewelry have become common gifts.

In South Korea, there is also Pepero Day, celebrated on November 11, when young couples give each other romantic gifts. There is an additional day for single people, Black Day, celebrated on April 14.

In Chinese culture, there is a counterpart to Valentine's Day, called "The Night of Sevens" (öÒàª); according to legend the Cowherd and the Weaver Maid meet in Heaven on the 7th day of the 7th month of the lunar calendar. A slightly different version of this day is celebrated in Japan as Tanabata, on July 7th of the solar calendar.

From Wilkpedia

Sun, 09 March 2008
What's the Pope worth to Sydney?
What’s the Pope worth to Sydney? We don’t know because the NSW Government wants to keep it a secret: THE NSW Government is refusing to explain how it has calculated that World Youth Day would generate $150 million in economic benefits to the state, and has used a rare legal provision to block public access to its report. The report, commissioned by the Department of State and Regional Development, has been used to justify the Government’s multimillion-dollar commitment to subsidise the July event, which will draw an estimated 500,000 Catholics to Sydney. But it has been exempted from the Freedom of Information Act, because it could be “used to found an action for breach of confidence�.



The Government works in mysterious ways. (And why are taxpayers subsidising this at all?)



Blog from Tim Dunlop

Sun, 09 March 2008
What's the Pope worth to Sydney?
What’s the Pope worth to Sydney? We don’t know because the NSW Government wants to keep it a secret:

THE NSW Government is refusing to explain how it has calculated that World Youth Day would generate $150 million in economic benefits to the state, and has used a rare legal provision to block public access to its report. The report, commissioned by the Department of State and Regional Development, has been used to justify the Government’s multimillion-dollar commitment to subsidise the July event, which will draw an estimated 500,000 Catholics to Sydney.

But it has been exempted from the Freedom of Information Act, because it could be “used to found an action for breach of confidence�.

The Iemma Government works in mysterious ways. (And why are taxpayers subsidising this at all?)



Blog by Tim Dunlop

Sun, 09 March 2008
Ned Kelly's remains found?
BONES found at the former Pentridge Prison site in Melbourne's north may include those of bushranger Ned Kelly, the Victorian government says.

Archaeological digs at the former prison site in Coburg have unearthed unmarked coffins containing the remains of 32 prisoners executed at the Old Melbourne Gaol, Planning Minister Justin Madden said today.

The remains were being taken to the Victorian Institute of Forensic Medicine for analysis and hopefully, identification.

"Although it may not be possible to conclusively match remains to individual prisoners, we hope the analysis will provide a better understanding of the history of the burials following the Old Melbourne Gaol closure in the 1920s,'' Mr Madden said in a statement.

Heritage Victoria Senior Archaeologist Jeremy Smith said it would be difficult to identify Ned Kelly's remains because his bones were mingled with those of other prisoners.

"Identifying the remains of Ned Kelly may prove difficult, as his were not handled with a great degree of care,'' Mr Smith said in a statement.

"It is also possible that his skull and other body parts were stolen immediately following his 1880 execution."

Heritage Victoria began conducting archaeological investigations at the site in December 2006.

Historical evidence suggests the remains of approximately 32 executed prisoners including Ned Kelly were exhumed from the Old Melbourne Gaol and buried at Pentridge in 1929.

Archaeologists believe they have confirmed the location of this burial site, which could also include the remains of serial killer Frederick Deeming.

The grave locations of eight prisoners executed at Pentridge between 1932 and 1951, and a burial with four coffins believed to have been moved from the Old Melbourne Gaol in 1937, have also been confirmed.

Mr Madden said record keeping of prisoner burials at the time was very poor, but an undated Department of Justice plan helped lead archaeologists to the burial area.

The plan included lists of prisoners' names, suggesting Kelly and Deeming were among those buried.

"While the mystery is by no means solved, the location of this burial area is certainly an important history discovery,'' he said.

Kelly was hanged at Melbourne Gaol on November 11, 1880. His notorious crimes included murder.

- AAP



Sun, 06 April 2008
Rents in Australian cities to soar in the next 4 years
RENTS in major cities will rise by 50 per cent over the next four years, a report predicts.

Most major cities had seen double-digit percentage rises in house rents over the past year as advertised listings dropped to a five-year low, Australian Property Monitors said in its March quarter rental series.

APM general manager Michael McNamara said rental supply was tight as a drum.

"As Gen Y leaves home and strong migration patterns take effect, our construction sector struggles to keep up the supply of well-located, affordable property to accommodate a growing population of renters," he said.

Mr McNamara said given the time lag from approval to completion in building construction, the flow-on effects were likely to continue throughout the rest of this decade and beyond.

"This is not good news for renters ... we advise renters to lock in their current arrangements for as long as they can," he said.

He said many would-be homeowners continued to be deterred from buying through high mortgage rates and deteriorating affordability.

Daily Telegraph



Thu, 01 May 2008
Australia's worst places to buy
MT Isa may be the worst place to buy a house, but Sydney's western suburbs dominate a list of 13 of the nation's top no-go zones for residential real estate investors.

The Australian reports today that housing hotspot specialist Terry Ryder says Parramatta, Bankstown and Blacktown have become the home repossession capitals of Sydney.

His website report says Bankstown offers "a smorgasbord" of reasons not to buy, and the Blacktown/Mt Druitt region is regularly held up as a symbol of society gone wrong.

Ethnic tensions, high crime rates and aircraft noise are reasons to stay away from Bankstown, and Blacktown/Mt Druitt is no better.

"Imagine living in an area where there's an arson attack on a home every second day," Mr Ryder says.

Inner-western Chippendale, the site of a planned $2bn redevelopment of the former CUB brewery, is Australia's best investment opportunity.

"Parts of the inner west and inner south show plenty of promise," he says.

Only two other major capital areas - Melbourne's Lyndhurst and Brisbane's Dinmore - are on the no-go list, which Mr Ryder says is made from observations of the property market based on 26 years as a real estate researcher, writer and investor.

Mr Ryder runs a website that attempts to identify property hotspots before they happen.

He says his list of worst places to invest is meant to help buyers avoid investment property where prices could fall.

"Investors can make big money buying in the right places at the right time," he says.

"Equally, they can lose money by buying in the wrong places."

The Sunshine Coast is a surprise inclusion because of affordability and infrastructure, an apartment oversupply and dubious marketing practices used by real estate agents.

Other no-go zones are the northern suburbs of Darwin and the Northern Territory's Katherine because of a mix of defence-induced inflated property and social problems.

Buyers are urged to stay away from flood-prone Giru in far north Queenland, crime-ridden Shepparton in regional Victoria, and polluted and over-priced Esperance and Kalgoorlie in Western Australia.

Mr Ryder regards outback Queensland mining city Mt Isa as the worst place to invest.

As well as being the most polluted population centre, Mr Isa has inflated prices and low rental returns.

The places property investors should avoid

* Bankstown, western Sydney, NSW

* Blacktown, western Sydney, NSW

* Darwin, northern suburbs, NT

* Dinmore, Brisbane, Qld

* Esperance, southeast, WA

* Giru, north Qld

* Kalgoorlie, outback WA

* Katherine, outback NT

* Lyndhurst, Melbourne, Vic

* Mount Isa, western Qld

* Parramatta, western Sydney, NSW

* Shepparton, northern Vic

* Sunshine Coast, Qld

From 'The Australian' by Maurice Dunleavy



Sun, 29 June 2008
Next Property Hotspots? Just add water.
THE national property market has been rattled by the Reserve Bank's campaign of interest rates rises, but experts insist well-located properties with water views remain as safe as an investment in blue-chip shares.

The trick, as with most property investments, is to identify the right location, The Australian reports.

Yesterday, Colliers International released a list of the 11 under-rated coastal attractions it believed would defy the wider property market.

Jonathan Rivera, Colliers state director of residential research, said prices for these properties had continued to rise in the past year despite the sluggishness in the wider market.

He cited Coolangatta, where the median house price rose 31.1per cent last year. Mr Rivera said the town, left behind in the development of the rest of the Gold Coast, could grow further in the coming year.

The southern part of the Gold Coast had become a focus for development to keep up with demand and growth for coastal properties.

The Pacific Motorway from Brisbane had made Coolangatta more accessible.

Mr Rivera singled out other coastal hot spots poised for future growth but that were still affordable.

Over the past five years the median unit price in Broome had risen by an average of 26.1per cent a year.

The northern West Australian port had benefited from burgeoning tourism.

Mr Rivera said coastal property had performed well when the markets had been driven by sound fundamentals, such as population growth, a strong tourism market and confident residential developers.

from The Australian-article by Florence Chong



Wed, 16 July 2008
Catholics visiting Sydney for WYD, why not buy some Aussie property?
If you're visiting Sydney for World Youth Day take the opportunity to see what's available in the Australian property market.

I think some of the houses on the north shore of Sydney are some of the most beautiful in the world, especially those with views of the water.

If you want to live in a forest then check out some of the places around Wahroonga. For most people however these areas are probably unaffordable.

To get an idea of what the average house costs these days here's a list of capital city median house prices.

Sydney $ 554,000

Perth $ 460,000

Canberra $ 445,000

Melbourne $ 432,500

Brisbane $ 416,000

Adelaide $ 362,100

Hobart $ 335,000

Property hotspots are still located around the water. Coolangatta in Queensland is a good example. The cheapest 2 bedroom units start at $200,000, but you'll have to look hard to find any at this price.

Other good places to buy are along northern NSW coastline-areas such as Coff's Harbour,Port Macquarie and Taree.

If you like inland towns then why not check out Orange or Dubbo. Both represent good value buying.

In Victoria I would recommend coastal towns such as Lochsport or Golden Beach. You'll find places here are very reasonably priced.

All the mining areas around Australia are also great investments. They include towns like Port Hedland and Broome in WA, Dysart and Moranbah in Queensland and Roxby Downs in South Australia.

Anyway I hope all visitors to Sydney enjoy their stay in Australia's premier city and even get a chance to buy a piece of the action. I'm sure you'll never regret it!

Jeff Crombie



Sat, 02 August 2008
House Prices Start to Tumble
AUSTRALIAN house prices fell in a majority of capital cities in the last few months as high interest rates brought about the weakest housing market in four years.

National house and unit prices could dive by 10 per cent next year as a prolonged real estate slowdown sets in, online real estate data group Australian Property Monitors (APM) said.

Median house prices fell in five of Australia's eight capital cities in the three months to June 30, according to APM's figures.

Perth had the biggest median house price fall, at 2.8 per cent, followed by Sydney's 2.1 per cent decline.

Hobart suffered the biggest median price dive for units - 3.8 per cent - and had the nation's cheapest capital city real estate with the median unit price at $207,568.

Brisbane's unit prices posted a 3 per cent slump and there were falls in three other capitals.

Adelaide was the only capital city not to experience a quarterly fall in house or unit prices, with both measures rising by 0.4 per cent in the three months to June.

"The June quarter housing data is the weakest we have observed since 2004," APM general manager Michael McNamara said.

"It is likely these results are the canary down the coal mine and that rapidly rising mortgage rates and a looming economic slowdown will usher in a sustained period of property market weakness."

For the year to June 30 , four capital cities posted double-digit median house price growth.

Melbourne house prices grew by a nation-leading 14 per cent to $449,888 over the year to June although Sydney still had the most expensive median house price, at $542,488.

Over the same 12 months, Darwin home unit prices climbed by a nation-beating 17.9 per cent to $324,454.

Adelaide was the only other capital city to enjoy double-digit price growth for home units, rising an annual pace of 16.9 per cent.

Sydney kept the title of having the most expensive median price for units, at $366,622, marginally ahead of Perth and Canberra.

by Stephen Johnson



Sat, 30 August 2008
Australia's next property hotspots!
PROPERTY in regional Australia looks set to outperform the big cities, according to research by real estate analyst Terry Ryder.

Mr Ryder, who runs hotspotting.com.au and earlier this year compiled a list of places where decent property could be bought for under $200,000, said just two metropolitan suburbs made his list of top 10 “super hotspots�.

Mr Ryder said good transport links and booming infrastructure were the most common themes shared by places on the list.

"There are more new road and rail links being built and planned now than ever before, and that will be a driving force in regional property prices," he said.

He also looked at lifestyle factors - such as whether a town was a popular seachange location, and the effect of the resources boom.

Mr Ryder selected parts of the country that were on the cusp of growth which would drive up rent and house prices.

“As well as great growth prospects, they also have the added attraction of affordability and highlight the attractive opportunities that are available to savvy investors in the current market.�

“These are the locations where property investors should be buying now. Once they take off, it will be too late and the best buying and growth opportunities will be gone.�

The hotspots have been selected on the basis of their attraction for real estate investors, rather than owner-occupiers.

"It's a different set of criteria if you're looking for capital growth prospects rather than somewhere to live," he said.

The prices used in the list are typical sales prices for houses in the areas.

THE HOT SPOTS

Ballina-Yamba, NSW

Typical prices: $380,000 - $405,000

Bowen Hills, QLD

Typical prices: $395,000 - $490,000

Ceduna, SA

Typical prices: $185,000

Chippendale, NSW

Typical prices: $375,000 - $650,000

Geraldton, WA

Typical prices: $340,000

Gippsland: Latrobe Valley, VIC

Typical prices: $130,000 - $235,000

Gippsland: Lakes Region, VIC

Typical prices: $205,000 - $260,000

Hervey Bay, QLD

Typical prices: $295,000 - $385,000

Magnetic Island, QLD

Typical prices: $340,000 - $457,000

Surf Coast, VIC.

Typical prices: $435,000 - $700,000

Source: Hotspotting.com.au. Locations are listed alphabetically.

Close but no cigar

Towns that have probably already peaked include Beerwah in Queensland, Coburg in Victoria, Christies Beach in South Australia, Dandenong in Victoria, Footscray in Victoria, Gatton in Queensland, Ipswich in Queensland, Port Adelaide in South Australia and Tweed Shire in New South Wales.

news.com.au

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