Issue # 089 March 13th

2015

" What's Happening In New South Wales " Lane Cove Residential Developments Continue To Rise As Investors And First Home Buyers Snap Up New Off-The-Plan Releases

There is a new contender in Lane Cove’s booming residential development market. Battique is the latest development to be released in the suburb. Developed by Central Element

and designed by PBD Architects, it will consist of 64 one, two and three-bedroom apartments. 10 March 2015. More. New Property Tax To Cost Vendors

A proposed new property tax will reportedly cool the Sydney market and make life easier for first home buyers. The Greens have pledged to restore a vendor duty of up to 2.25 per cent on investment properties if they win the March 28 election. 10 March 2015. More. Low Supply, Furious Demand Drive Bidding Wars At Sydney Auctions Number 24 Bellevue Street, Glebe is not the kind of home people would normally stop and stare at — it has three bedrooms, is 138sq m and looks eerily similar to most other houses on the street — but somehow the property sold for a massive $260,000 over its reserve price. 9 March 2015. More.

Strong Demand In Sydney The Main Feature Of Weekend

A preliminary weighted average clearance rate of 73 per cent was recorded this week across capital cities compared to 76.4 per cent last week and 70.2 per cent this time last year. 9 March 2015. More.

Did The $1 Reserve Blacktown Auction Gimmick Really Net More Money?

A home owner unable to sell his house last year cooks up a plan to get a whole heap of attention with a $1 reserve price at a February auction. The taxi driver company owner says he's prepared to let the market decide it's worth. 2 March 2015. More.

" What's Happening In Queensland " Brisbane City Council’s Planning Committee Has Recommended Approval Of A New $100 Million Tower For Newstead

Brisbane City Council’s Neighbourhood Planning and Development Assessment Committee has recommended that Council approve a development application for the building on a site at Breakfast

Creek Road. 10 March 2015. More. Brisbane House Prices Top New Milestone

The median house price in Brisbane has hit a new milestone as the city continues to drive housing recovery in Queensland. New statistics from the Real Estate Institute of Queensland show the median house price in Brisbane topped the $600,000 mark for the first time in the December quarter of 2014. 11 March 2015. More. Finance Company Slapped With Fine For Misleading Home Loan Ads

Equanimity Concepts ran advertisements about financing options for home loans on their website, on YouTube, in in-flight magazines for Qantas, Jetstar and Virgin, and in police journals for more than two years. 5 March 2015. More.

Property Spruiker Ordered To Stand Trial A former company director has been ordered to stand trial on fraud charges after an ASIC investigation found he recommended investors set up SMSFs for property investment. 11 March 2015. More.

Queensland Government Contemplating "Calling In" Controversial Cedar Woods, Upper Kedron Development

Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad, said she was using her powers under the Sustainable Planning Act 2009 to issue a proposed ‘call in’ notice for the Cedar Woods development application. 3 March 2015. More.

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State Of The Nation Continued…

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"What's Happening In Victoria" Buying Into A Tightly Held Suburb Of Melbourne

There are many different ways of looking at the market and making judgements about its performance. You can look at sale prices, days on market or even turn up at auctions and count the number of active bidders. These metrics will invariably tell you how the market is performing, whether is trending up, down, flat and by how much. They don’t and can’t tell you about the future performance. 10 March 2015. More. Melbourne’s Most Expensive Mansions Revealed

Billionaire property tycoon John Gandel is building a lavish new Mornington Peninsula estate that will be one of our most expensive homes. Estimated to have cost up to $50 million to

build, industry insiders have revealed details of a residence unrivalled in sheer extravagance. But what makes this property stand out from Melbourne’s most luxurious homes? 10 March 2015. More. REIV Forced By Members To Address Political Involvement

The lobby group for real estate agents in Victoria, the Real Estate Institute of Victoria (REIV), is facing internal unrest after a 2014 political campaign urging the public to vote out the Napthine Liberal government. 10 March 2015. More.

Melbourne Man Pleads Guilty To Multi-Million Dollar Mortgage Fraud

A Melbourne man has pleaded guilty to a $79 million dollar home loan fraud conspiracy. Mohamed Radhi Maki Ebrahim Ahmed, 28, has entered a guilty plea in a committal proceeding at the Melbourne Magistrates' Court, to one charge of conspiring to defraud financial institutions. 10 March 2015. More.

Offshore Demand For Melbourne Apartments Shows Little Sign Of Abating

Melbourne's central business district will house 40 per cent of the new apartments planned for the inner suburbs, a new report has found. The BIS Shrapnel research also concluded that

local concerns about an oversupply of apartments were not shared abroad. 10 March 2015. More.

"What's Happening In South Australia" Mortgage Volume Increase Points To South Australian Recovery

Mortgage volumes increased around the country in February, parti cularly in South Australia, suggesting that state’s property market is recovering after a sluggish few years. Mortgages processed in South Australia by Australia’s largest mortgage broker, AFG, increased by 31% in February compared with the same month in 2014. 10 March 2015. More.

A Renovated Bungalow Features Tasteful Use Of Space And Entertaining Areas

Character features, large block of land and ideal location were a magnet for vendor Jenny Menz and her husband to a gentleman’s bungalow in Malvern. The vendors have lived there for 23 years, during

which they have added their own personal touches to make it the ideal family home. 7 March 20 15. More. Police, Protesters Watch As Trees Come Down In Adelaide’s ’Place Of Trees’ Police have been called to a property in Willunga as developers readied to axe four significant gum trees which have been at the centre of a community protest. About 40 residents lined the Aldinga Rd property to fight against the trees’ removal, to make way for a housing development. 6 March 2015. More.

Car-Stacking Cube Planned For $20m Adelaide Apartment

A $20 million apartment project in the CBD has been given the green light by the Development Assessment Commission, including plans for the first car-stacking system of its kind in Adelaide. The project, opposite the former bus depot on Franklin St, includes 30 apartments across 16 levels and a car-stacking cube for 34 cars. 2 March 2015. More.

South Australia To Limit Sprawl And Renew Social Housing The South Australian government is imposing a firm boundary on urban sprawl, with plans to legislate an outer limit for urban development to prevent the loss of prime agricultural land. The move is part of a comprehensive overhaul of the planning system that aims to prioritise urban infill projects close to existing infrastructure and improve the overall sustainability of Adelaide. The government has also committed to renewing all social housing stock constructed before 1968 within the next 15 years. 3 March 2015. More.

State Of The Nation Continued…

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"What's Happening In Western Australia" SAS Land Sell-Off To Reap $100m

Prime beachfront real estate that is home to Australia's military elite will go under the hammer as part of an historic Federal Government sale set to re ap more than $100 million. Special Air Service

Regiment families were told on Monday the Government would push ahead with the redevelopment of Swanbourne's Seaward Village. 11 March 2015. More.

WA Real Estate: No Place Like Home For Murdoch Residents

New figures show owners south of Perth tend to keep a tight grip on their homes, with Murdoch topping the metro list of areas with the longest average hold time. The suburb, 15km south of the CBD, is a “southie haven” where properties are held an average of 16.4 years. 11 March 2015. More. WA Real Estate: Pilbara Property — Boom Or Bust?

With prices plummeting to 2008 lows and the resources industry “the slowest in decades”, it’s no secret the Pilbara’s property mar ket has taken a hit. And while some buyers are seeing an

opportunity to start bargain hunting, experts are divided on whether the worst is yet to come for the formerly booming region. 9 March 2015. More.

Don't Write Perth Off Yet The Perth market is a good illustration of the need for investors to delve a little deeper with their research when assessing a market. Many commentators give us sweeping generalisations, with comments about the state of play nationally or for a major city as a single market. This can disguise myriad differences in sub-markets and is often highly misleading. 5 March 2015. More.

Perth Set For 'Prolonged Slump' Perth property price growth is going to remain weak due to an oversupply of property and an underperforming economy, according to one market analyst. Simon Pressley from Propertyology said Perth sales volumes peaked two years ago and the numbers since have steadily declined. 5 March 2015. More.

"What's Happening In The Northern Territory" Neat And Totally Secure

First home? First Investment? Or perhaps one for all the family. Located in one of Palmerston’s established residential suburbs and situated across from family friendly par klands, this neat home is

worthy of a closer inspection. The home is minutes from the CBD and Sanctuary Lakes as well as the nearby pre, primary and middle schools. 7 March 2015. More. Only Darwin In Decline - House Prices 6.8% Fall Over The Year: APM

Darwin, the second priciest capital city in the country for houses, recorded a sharp price reversal during 2014. Its median house price sits at $634,000, down from $680,000 a year earlier, according to Australian Property Monitors (APM). 9 March 2015. More.

Darwin Buyers Prepared To Bulldoze $1m Homes For Perfect Block Of Land

The perfect location is now worth seven figures, according to Darwin real estate agents who say desperate buyers have started paying more than $1 million for knockdown-and-rebuild properties. It’s like they always say – it’s all about location, location, ­location. 28 February 2015. More.

"What's Happening In Tasmania" Reform, Rates Key To Building Sector’s Revival

Housing Industry Association executive director Rick Sassin, speaking yesterday at HIA’s Homefest expo, said the Government could provide a stimulus if it followed through with

its Building Regulatory Framework Review and created a “perfect residential building environment”. 2 March 2015. More.

Hobart Suburbs Most Affordable

Gagebrook on the Eastern Shore is Australia’s most affordable capital city suburb for home buyers. With a median house value of $136,649, the postcode is among five Hobart suburbs to sweep the top rankings of most affordable capital city suburbs. 27 February 2015. More.

State Of The Nation Continued…

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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 kevin@smartpropertyadviser.com.au

"Market Update" Five Capital Cities Record Falling Prices

Five of Australia’s capital cities posted declines in house or unit prices during 2014, new research has revealed. Canberra house prices grew 9.9 per cent to $545,000, but unit prices fell 3.5 per cent to $410,000, according to a report by the Real Estate Institute of Australia and Bendigo Bank. Brisbane house prices rose 3.8 per cent to $482,000. 11 March 2015. More.

First Home Buyers Want Access To Their Superannuation Now

Treasurer Joe Hockey's idea of dipping into superannuation as a way to get on to the property ladder makes a lot of sense to first-home buyer Edgar Pottumati. The 33-year-old who works in banking has been searching for a one- or two-bedroom unit for some time without success. 10 March 2015. More.

Home Building Activity Declines For Third Month Home building has declined for a third consecutive month, which may send a distressing signal about the state of the Australian economy which has been relying heavily on the strength in the property market. 9 March 2015. More. There Is No Boom In Borrowing Says RBA Interest rate cuts are losing their potential at stimulating the economy, Reserve Bank deputy governor Philip Lowe says. Lowe said rate cuts were having little effect on household consumption because retirees and other savers were instead cutting back spending as their incomes fell in line with deposit rates. 6 March

2015. More. Half Of Home Owners Look To Buy Investment Property Good news for brokers – new research shows almost half of home owners recently purchased or intend to purchase an investment property too. According to the Commonwealth Bank survey of more than 1,000 home owners, almost half (47%) recently purchased, or intend to purchase, an investment property. 5 March 2015. More.

Dwelling Approvals Reach New Record Highs In January 2015

Earlier this week, the Australian Bureau of Statistics released building approvals data for January 2015. The data showed that over the month, dwelling approvals surged to an all-time high while the annual number of approvals is also at a record high. 4 March 2015. More.

"What's Happening Internationally" Outer London Prime Property Becoming Attractive To Buy To Let Investors UK buy to let buyers are taking advantage of attractive mortgage rates and a thriving prime property market in outer London, especially new build schemes, it is claimed. Properties in this sector offer greater returns than the prime central London real estate market. 11 March 2015. More.

Move To This Australian Capital City If You Want A Beautiful Home And Cash To Spare It's the Australian city where homeowners have the biggest disposable income. But most people wouldn’t think that moving here would help them have a life. This is Canberra, the capital notorious for being the county’s most boring metropolis. 12 March 2015. More.

Controversy Corner

Dollar Is Still Too High, Says Reserve Bank The Reserve Bank has taken another shot at the Australian dollar, claiming it needs to fall further still to help redress imbalances in the economy. RBA assistant governor Christopher Kent says the currency is only now “starting to play a role” in aiding the transition from mining-led to broader growth. 12 March 2015. More.

Some Parting Advice

“While the saying ‘knowledge is power’ has some validity, it’s really only half the equation - the other half is action.”

Until Next Time… Kevin Lee

www.smartpropertyadviser.com.au

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