of your insurance determine appropriate
insurance coverage.
needs.’ • Review your policies
The document provides a summary of the first issue of the REIA News newsletter. It discusses the following main topics:
1) The federal budget and its implications for the housing market.
2) Other articles in the issue include whether women are increasingly purchasing property, debates around the existence of a housing bubble, and expectations for property taxes.
3) Contact information is provided for those interested in promoting their brand in the REIA News newsletter.
Measuring the Quality of Agricultural Index Insurance: Concepts and Safe Mini...BASIS AMA Innovation Lab
A presentation on Agricultural Index Insurance by Professor Michael Carter of the University of California, Davis, and Director of the Feed the Future BASIS Assets and Market Access Innovation Lab (http://basis.ucdavis.edu). This presentation was given at a World Bank "Brown Bag" seminar on May 21, 2015.
The document analyzes the debt crisis facing the Eurozone and presents four potential scenarios for how the crisis could unfold over the next 3 years: 1) a return to normal growth and stability, 2) high inflation leading to currency reforms, 3) an uncontrolled economic reset, or 4) a controlled reset through reforms and debt restructuring that allows for recovery. It argues current policies of taking on new debt to pay old debts will fail to solve the problem and more decisive action is needed to reduce debt burdens in a sustainable way.
The document provides an analysis of the Queensland property market for the September quarter of 2009. It finds that property prices across the state have returned to pre-financial crisis levels, with the median house price in Brisbane up 3.1% and unit/townhouse prices also increasing solidly. First home buyer activity decreased from its peak but still represents about 23% of the market. Rental vacancy rates have eased due to many renters becoming homeowners. The recovery is expected to continue into better times for the Queensland property market.
Courtesy of Linda & Carlos Debello This is the Annual National Property Market Report for your perusal, information & feedback. Looking forward to hearing from you.
Best regards,
Phone: (07) 3263 6085
Fax: (07) 3263 5985
Mob: 0400 833 800
Mob2: 0409 995 578
info@ljgrealestate.com.au
LJGillandRealEstatePtyLtd
http://www.ljgrealestate.com.au/index.php?lan=ch
The Hangzhou Bay Bridge in China is the longest sea-crossing bridge in the world at 36 kilometers long. It took 9 years and 600 engineers to plan and design the S-shaped bridge, which links Ningbo and Jiaxing and cuts 120 km off the drive between Shanghai and Ningbo. The unique bridge has a 10,000 square meter service center in the middle with facilities like a restaurant, hotel, and observation tower to view the bay's extraordinary tides. The specially designed bridge can withstand typhoons and hurricanes in the bay known for its fast-moving 30 kph tides.
Peter Clemens underwent many life changes in 2007-2008, including getting married, becoming a father, and relocating to a new country. During this time of transition, he found a new passion in blogging and writing about self-improvement. The document is a collection of Clemens' best articles from that period of change, covering topics like learning to dream again, living consciously, fundamentals for a wonderful life, and habits for personal growth.
The document provides a summary and outlook for the Australian commercial and industrial property market in 2012. It discusses that:
1) The Sydney industrial market will continue to see demand shift towards larger warehouse facilities, while smaller warehouses and unit estates will face pressure on rental rates and vacancy due to low business confidence.
2) The Canberra industrial market is generally stable, but saw rents and values fall in late-2011 due to a slowing construction sector. Rents are expected to remain flat in 2012 while investors remain cautious and owner-occupiers support the market.
3) Overall, 2012 will be a challenging year for commercial property as uncertainty remains, but local knowledge will be important to navigate the risks, such as potential
This document provides guidance on completing a sustainability declaration for a property being sold in Queensland, Australia. It outlines the key things to remember, including leaving answers blank if unknown, checking product labels and receipts for information, and signing and dating the form. It also discusses the privacy of the declaration and advertising requirements when a property is listed for sale.
Measuring the Quality of Agricultural Index Insurance: Concepts and Safe Mini...BASIS AMA Innovation Lab
A presentation on Agricultural Index Insurance by Professor Michael Carter of the University of California, Davis, and Director of the Feed the Future BASIS Assets and Market Access Innovation Lab (http://basis.ucdavis.edu). This presentation was given at a World Bank "Brown Bag" seminar on May 21, 2015.
The document analyzes the debt crisis facing the Eurozone and presents four potential scenarios for how the crisis could unfold over the next 3 years: 1) a return to normal growth and stability, 2) high inflation leading to currency reforms, 3) an uncontrolled economic reset, or 4) a controlled reset through reforms and debt restructuring that allows for recovery. It argues current policies of taking on new debt to pay old debts will fail to solve the problem and more decisive action is needed to reduce debt burdens in a sustainable way.
The document provides an analysis of the Queensland property market for the September quarter of 2009. It finds that property prices across the state have returned to pre-financial crisis levels, with the median house price in Brisbane up 3.1% and unit/townhouse prices also increasing solidly. First home buyer activity decreased from its peak but still represents about 23% of the market. Rental vacancy rates have eased due to many renters becoming homeowners. The recovery is expected to continue into better times for the Queensland property market.
Courtesy of Linda & Carlos Debello This is the Annual National Property Market Report for your perusal, information & feedback. Looking forward to hearing from you.
Best regards,
Phone: (07) 3263 6085
Fax: (07) 3263 5985
Mob: 0400 833 800
Mob2: 0409 995 578
info@ljgrealestate.com.au
LJGillandRealEstatePtyLtd
http://www.ljgrealestate.com.au/index.php?lan=ch
The Hangzhou Bay Bridge in China is the longest sea-crossing bridge in the world at 36 kilometers long. It took 9 years and 600 engineers to plan and design the S-shaped bridge, which links Ningbo and Jiaxing and cuts 120 km off the drive between Shanghai and Ningbo. The unique bridge has a 10,000 square meter service center in the middle with facilities like a restaurant, hotel, and observation tower to view the bay's extraordinary tides. The specially designed bridge can withstand typhoons and hurricanes in the bay known for its fast-moving 30 kph tides.
Peter Clemens underwent many life changes in 2007-2008, including getting married, becoming a father, and relocating to a new country. During this time of transition, he found a new passion in blogging and writing about self-improvement. The document is a collection of Clemens' best articles from that period of change, covering topics like learning to dream again, living consciously, fundamentals for a wonderful life, and habits for personal growth.
The document provides a summary and outlook for the Australian commercial and industrial property market in 2012. It discusses that:
1) The Sydney industrial market will continue to see demand shift towards larger warehouse facilities, while smaller warehouses and unit estates will face pressure on rental rates and vacancy due to low business confidence.
2) The Canberra industrial market is generally stable, but saw rents and values fall in late-2011 due to a slowing construction sector. Rents are expected to remain flat in 2012 while investors remain cautious and owner-occupiers support the market.
3) Overall, 2012 will be a challenging year for commercial property as uncertainty remains, but local knowledge will be important to navigate the risks, such as potential
This document provides guidance on completing a sustainability declaration for a property being sold in Queensland, Australia. It outlines the key things to remember, including leaving answers blank if unknown, checking product labels and receipts for information, and signing and dating the form. It also discusses the privacy of the declaration and advertising requirements when a property is listed for sale.
This document provides an overview of business life insurance and estate planning strategies for small business owners. It discusses the importance of succession planning, as 70% of small businesses have no plan and fewer than 30% are passed successfully to the next generation. It also outlines potential risks businesses face and how life insurance can help by protecting assets, reducing uncertainty, and providing financial security. Several insurance products and strategies are described that can help with business continuation, employee retention, and estate planning goals. These include key person life insurance, buy-sell agreements, and various bonus and deferred compensation plans. The document stresses the importance of having professionals like accountants and attorneys on your planning team and working with a life insurance representative to determine the right policies and coverage
This document provides an introduction and overview of the 2009 Profile of Home Buyers and Sellers report. It discusses the challenging housing environment in the aftermath of the recession, including job losses, reduced household wealth, and cautious consumer spending. It notes tentative signs of stabilization in the housing market, including rising home sales, reduced inventories, and record housing affordability. However, challenges remain as consumers remain cautious and obtaining a mortgage can still be difficult. The report aims to provide insights into the needs and experiences of home buyers and sellers to help real estate professionals better understand the housing market.
Most of people will advise that deadly earthquakes are restricted to a particular zone or region and there is no need to insure Home against Earthquakes. However, occurrence of earth quakes in the recent times has proven that earth quakes can occur almost anywhere and around the nook and corner of the world.
The document discusses the perception of insurance advisors and how to improve it. It notes that insurance advisors are often the subject of jokes but that they provide important financial advice. It argues that improving financial literacy could help change perceptions by increasing understanding of risk management and insurance. The document recommends that advisors explain the difference between human and financial capital and how insurance protects both. It also suggests advisors discuss how permanent life insurance can benefit high-net-worth clients.
The paper provides a concrete and pragmatic view of the smart home opportunity for insurers: a deep-dive into key aspects of the smart home trend, the implications for the US home insurance market, and into customer preferences. The paper concludes with a list of “must-have” elements for an insurer in order to deliver the promise of a smart home value proposition.
The recent spate of natural disasters in Australia and New Zealand have caused damage and insurance claims totaling tens of millions. It is important to understand the risks associated with your property location and ensure you have appropriate insurance coverage for those risks, such as floods. Insurance policies can vary in what types of natural disasters they cover, so property owners need to check the specific policy definitions to confirm coverage for events like floods or storms.
Edward Zore, CEO of Northwestern Mutual, discusses the insurance industry in light of AIG's bailout. He notes that Northwestern Mutual had minimal exposure to subprime markets. While AIG's issues reflect broader economic problems, Northwestern remains cautious but sees no direct negative impact. Zore also comments on industry trends like life settlements, whole life policy sales increasing 5% year-to-date, and why Northwestern Mutual remains a mutual rather than publicly traded company.
This document is a newsletter from August 2005 from Compass Financial Services. It provides updates on recent events held for clients, including a trip to Summerset Winery and a ladies luncheon. It also previews upcoming planned events, such as a wine tasting and cooking classes. The newsletter aims to foster community and engagement among clients while promoting the services of Compass Financial.
This document summarizes an article from the October 2009 issue of Cyber InsuranceNews. It discusses how to handle contradictory customers who change their minds and behaviors. The CEO and founder of Wealth Financial Group, Steve Lewit, identifies contradictory customers as one of the 25 "selling landmines" that can undermine a sale. He notes customers may act irrationally and unrealistically due to fears related to losses and missed opportunities in the market. The article provides tips for addressing contradictory customers, including using mind mapping questions to understand their shifting perspectives and bring them back to reality regarding their decisions.
This document discusses the differences between accidental damage, malicious damage, deliberate damage, and wear and tear from an insurance perspective. It provides examples of each type of damage. Accidental damage is unexpected loss, while malicious damage is intentional damage meant to cause harm. Deliberate damage intentionally alters an item but is not meant to cause spite. Wear and tear is natural damage from living in a property. The document also discusses claims processes and the importance of documentation like entry/exit reports and photos when filing claims.
This document discusses the differences between accidental damage, malicious damage, deliberate damage, and wear and tear from an insurance perspective. It provides examples of each type of damage. Accidental damage is unexpected loss, while malicious damage is intentional damage meant to cause harm. Deliberate damage intentionally alters an item without malice. Wear and tear is natural, inevitable damage from living in a property. The document also discusses poor housekeeping versus actual property damage.
This document discusses the differences between accidental damage, malicious damage, deliberate damage, and wear and tear from an insurance perspective. It provides examples of each type of damage. Accidental damage is unexpected loss, while malicious damage is intentional damage meant to cause harm. Deliberate damage intentionally alters an item but is not meant to cause harm. Wear and tear is natural damage from living in a property. The document encourages thorough documentation of property conditions to help determine claims.
This document discusses the rise of loss mitigation services to help homeowners facing foreclosure. It describes how the author's company has evolved to specialize in loss mitigation, working with banks to modify loans by reducing interest rates, extending terms, and lowering principal balances. The company ensures the process is handled properly through attorneys to avoid legal issues and help both homeowners and banks.
The aim of this report is to provide our clients and other stakeholders with a clear and
comprehensive overview of Aegon Asset Management’s approach to Responsible Investment.
With the use of case studies and interviews, alongside descriptions of processes, updates
and data, we aim to provide a well-rounded view of our activities in 2016. Also through a number
of ‘next steps’ text boxes we give insight in what is currently on our agenda and what we hope
to achieve in the coming years.
Legal Advantage, Ll Cs Latest Legal Research Serviceslegaladvice
This document provides an overview and introduction to the Legal Survival Kit. It discusses the purpose of written agreements in clarifying the terms and obligations of both parties. When conflicts arise over agreements, the document recommends trying to identify what the other party wants and discussing ways to resolve issues without immediately blaming the other side. Lawyers may stir up conflicts for their own benefit, so parties should try to resolve issues themselves through open communication before litigation begins. The overall goal is to provide tools and advice for navigating legal issues while avoiding litigation when possible.
Creativecommons Podcasting Legal Guide Eng Creativecommons Podcasting Legal G...legalservices
This document provides a summary of the background of the American legal system and advice for protecting yourself within it. It discusses how contingency lawsuits and not requiring the loser to pay legal fees has led to increased litigation in the US. It emphasizes the need to take proactive legal steps like obtaining umbrella liability insurance, creating documents with your personal information, filling out the provided legal forms with the accompanying advice, and encouraging family to do the same. The overall goal is to help the reader avoid litigation when possible but improve their odds if they are engaged in a legal matter.
1) Many businesses do not properly evaluate their insurance needs and options, often relying too heavily on brokers who may not have the businesses' best interests in mind.
2) Key mistakes include not performing risk assessments, not thoroughly reviewing policy details and exclusions, and not focusing enough on safety programs to reduce long-term costs.
3) CFOs should take a more active role in their risk management and insurance procurement to avoid overpaying or having coverage gaps by seeking multiple competitive quotes and ensuring brokers are representing the business's interests alone.
The document discusses several topics related to the real estate industry:
1) ABS data shows a decline in dwelling approvals in February 2011, with falls in Victoria, Queensland, and Western Australia, while approvals rose in Tasmania, South Australia, and New South Wales.
2) The Henry Review found stamp duty to be inefficient and proposed broadening land taxes, while REIA argues stamp duties discourage transactions.
3) Stockland's managing director says states need to improve planning through standardized codes to boost productivity and housing affordability.
This document provides an overview of asset protection strategies. It discusses identifying risks, implementing plans before problems arise, and avoiding fraudulent transfers. It then summarizes three basic techniques: insurance to shift risks, statutory protections of exempt assets like a home, and asset placement by transferring ownership. Placement options include corporations, partnerships, trusts, and shifting assets between spouses to protect from each other's creditors.
Australia's home prices likely rose at a slightly faster pace in August (+1%) compared with July (+0.8%), based on CoreLogic's daily 5 capital city index. Brisbane (inc Gold Coast) prices are up 1.4% with Sydney and Adelaide prices both 1.1% higher.
Adelaide and Perth are the only capital cities at new highs, Brisbane is still below it's high in March 2022 based on this data (which includes the Gold Coast), though on the ground in Brisbane we are seeing data points of new all time highs in our target areas.
CoreLogic Research Director, Tim Lawless, noted the most
substantial reduction in growth has occurred in Sydney.
“After leading the upswing, the monthly pace of growth in Sydney
housing values has halved from a recent high of 1.8% in May to 0.9%
in July. Sydney has also seen a significant rise in the number of
fresh listings added to the market, 9.9% higher than the same time
last year and 18.0% above the previous five-year average. An
increased flow of new listings provides more choice and may be
working to reduce some of the urgency felt among prospective
buyers,” he said.
Brisbane and Adelaide saw the monthly pace of growth
accelerate in July, leading the pace of gains across the capitals
with housing values up 1.4% across both cities. Although the trend
in new listings has risen in these cities, Mr Lawless said the number
remains well below levels from a year ago and the previous five
year average.
Canberra was the only capital city to record a decline in values in
July, down -0.1%, while Hobart values were unchanged.
The slowdown in value growth has mostly been driven by an
easing in gains across the upper quartile of the market.
This document provides an overview of business life insurance and estate planning strategies for small business owners. It discusses the importance of succession planning, as 70% of small businesses have no plan and fewer than 30% are passed successfully to the next generation. It also outlines potential risks businesses face and how life insurance can help by protecting assets, reducing uncertainty, and providing financial security. Several insurance products and strategies are described that can help with business continuation, employee retention, and estate planning goals. These include key person life insurance, buy-sell agreements, and various bonus and deferred compensation plans. The document stresses the importance of having professionals like accountants and attorneys on your planning team and working with a life insurance representative to determine the right policies and coverage
This document provides an introduction and overview of the 2009 Profile of Home Buyers and Sellers report. It discusses the challenging housing environment in the aftermath of the recession, including job losses, reduced household wealth, and cautious consumer spending. It notes tentative signs of stabilization in the housing market, including rising home sales, reduced inventories, and record housing affordability. However, challenges remain as consumers remain cautious and obtaining a mortgage can still be difficult. The report aims to provide insights into the needs and experiences of home buyers and sellers to help real estate professionals better understand the housing market.
Most of people will advise that deadly earthquakes are restricted to a particular zone or region and there is no need to insure Home against Earthquakes. However, occurrence of earth quakes in the recent times has proven that earth quakes can occur almost anywhere and around the nook and corner of the world.
The document discusses the perception of insurance advisors and how to improve it. It notes that insurance advisors are often the subject of jokes but that they provide important financial advice. It argues that improving financial literacy could help change perceptions by increasing understanding of risk management and insurance. The document recommends that advisors explain the difference between human and financial capital and how insurance protects both. It also suggests advisors discuss how permanent life insurance can benefit high-net-worth clients.
The paper provides a concrete and pragmatic view of the smart home opportunity for insurers: a deep-dive into key aspects of the smart home trend, the implications for the US home insurance market, and into customer preferences. The paper concludes with a list of “must-have” elements for an insurer in order to deliver the promise of a smart home value proposition.
The recent spate of natural disasters in Australia and New Zealand have caused damage and insurance claims totaling tens of millions. It is important to understand the risks associated with your property location and ensure you have appropriate insurance coverage for those risks, such as floods. Insurance policies can vary in what types of natural disasters they cover, so property owners need to check the specific policy definitions to confirm coverage for events like floods or storms.
Edward Zore, CEO of Northwestern Mutual, discusses the insurance industry in light of AIG's bailout. He notes that Northwestern Mutual had minimal exposure to subprime markets. While AIG's issues reflect broader economic problems, Northwestern remains cautious but sees no direct negative impact. Zore also comments on industry trends like life settlements, whole life policy sales increasing 5% year-to-date, and why Northwestern Mutual remains a mutual rather than publicly traded company.
This document is a newsletter from August 2005 from Compass Financial Services. It provides updates on recent events held for clients, including a trip to Summerset Winery and a ladies luncheon. It also previews upcoming planned events, such as a wine tasting and cooking classes. The newsletter aims to foster community and engagement among clients while promoting the services of Compass Financial.
This document summarizes an article from the October 2009 issue of Cyber InsuranceNews. It discusses how to handle contradictory customers who change their minds and behaviors. The CEO and founder of Wealth Financial Group, Steve Lewit, identifies contradictory customers as one of the 25 "selling landmines" that can undermine a sale. He notes customers may act irrationally and unrealistically due to fears related to losses and missed opportunities in the market. The article provides tips for addressing contradictory customers, including using mind mapping questions to understand their shifting perspectives and bring them back to reality regarding their decisions.
This document discusses the differences between accidental damage, malicious damage, deliberate damage, and wear and tear from an insurance perspective. It provides examples of each type of damage. Accidental damage is unexpected loss, while malicious damage is intentional damage meant to cause harm. Deliberate damage intentionally alters an item but is not meant to cause spite. Wear and tear is natural damage from living in a property. The document also discusses claims processes and the importance of documentation like entry/exit reports and photos when filing claims.
This document discusses the differences between accidental damage, malicious damage, deliberate damage, and wear and tear from an insurance perspective. It provides examples of each type of damage. Accidental damage is unexpected loss, while malicious damage is intentional damage meant to cause harm. Deliberate damage intentionally alters an item without malice. Wear and tear is natural, inevitable damage from living in a property. The document also discusses poor housekeeping versus actual property damage.
This document discusses the differences between accidental damage, malicious damage, deliberate damage, and wear and tear from an insurance perspective. It provides examples of each type of damage. Accidental damage is unexpected loss, while malicious damage is intentional damage meant to cause harm. Deliberate damage intentionally alters an item but is not meant to cause harm. Wear and tear is natural damage from living in a property. The document encourages thorough documentation of property conditions to help determine claims.
This document discusses the rise of loss mitigation services to help homeowners facing foreclosure. It describes how the author's company has evolved to specialize in loss mitigation, working with banks to modify loans by reducing interest rates, extending terms, and lowering principal balances. The company ensures the process is handled properly through attorneys to avoid legal issues and help both homeowners and banks.
The aim of this report is to provide our clients and other stakeholders with a clear and
comprehensive overview of Aegon Asset Management’s approach to Responsible Investment.
With the use of case studies and interviews, alongside descriptions of processes, updates
and data, we aim to provide a well-rounded view of our activities in 2016. Also through a number
of ‘next steps’ text boxes we give insight in what is currently on our agenda and what we hope
to achieve in the coming years.
Legal Advantage, Ll Cs Latest Legal Research Serviceslegaladvice
This document provides an overview and introduction to the Legal Survival Kit. It discusses the purpose of written agreements in clarifying the terms and obligations of both parties. When conflicts arise over agreements, the document recommends trying to identify what the other party wants and discussing ways to resolve issues without immediately blaming the other side. Lawyers may stir up conflicts for their own benefit, so parties should try to resolve issues themselves through open communication before litigation begins. The overall goal is to provide tools and advice for navigating legal issues while avoiding litigation when possible.
Creativecommons Podcasting Legal Guide Eng Creativecommons Podcasting Legal G...legalservices
This document provides a summary of the background of the American legal system and advice for protecting yourself within it. It discusses how contingency lawsuits and not requiring the loser to pay legal fees has led to increased litigation in the US. It emphasizes the need to take proactive legal steps like obtaining umbrella liability insurance, creating documents with your personal information, filling out the provided legal forms with the accompanying advice, and encouraging family to do the same. The overall goal is to help the reader avoid litigation when possible but improve their odds if they are engaged in a legal matter.
1) Many businesses do not properly evaluate their insurance needs and options, often relying too heavily on brokers who may not have the businesses' best interests in mind.
2) Key mistakes include not performing risk assessments, not thoroughly reviewing policy details and exclusions, and not focusing enough on safety programs to reduce long-term costs.
3) CFOs should take a more active role in their risk management and insurance procurement to avoid overpaying or having coverage gaps by seeking multiple competitive quotes and ensuring brokers are representing the business's interests alone.
The document discusses several topics related to the real estate industry:
1) ABS data shows a decline in dwelling approvals in February 2011, with falls in Victoria, Queensland, and Western Australia, while approvals rose in Tasmania, South Australia, and New South Wales.
2) The Henry Review found stamp duty to be inefficient and proposed broadening land taxes, while REIA argues stamp duties discourage transactions.
3) Stockland's managing director says states need to improve planning through standardized codes to boost productivity and housing affordability.
This document provides an overview of asset protection strategies. It discusses identifying risks, implementing plans before problems arise, and avoiding fraudulent transfers. It then summarizes three basic techniques: insurance to shift risks, statutory protections of exempt assets like a home, and asset placement by transferring ownership. Placement options include corporations, partnerships, trusts, and shifting assets between spouses to protect from each other's creditors.
Australia's home prices likely rose at a slightly faster pace in August (+1%) compared with July (+0.8%), based on CoreLogic's daily 5 capital city index. Brisbane (inc Gold Coast) prices are up 1.4% with Sydney and Adelaide prices both 1.1% higher.
Adelaide and Perth are the only capital cities at new highs, Brisbane is still below it's high in March 2022 based on this data (which includes the Gold Coast), though on the ground in Brisbane we are seeing data points of new all time highs in our target areas.
CoreLogic Research Director, Tim Lawless, noted the most
substantial reduction in growth has occurred in Sydney.
“After leading the upswing, the monthly pace of growth in Sydney
housing values has halved from a recent high of 1.8% in May to 0.9%
in July. Sydney has also seen a significant rise in the number of
fresh listings added to the market, 9.9% higher than the same time
last year and 18.0% above the previous five-year average. An
increased flow of new listings provides more choice and may be
working to reduce some of the urgency felt among prospective
buyers,” he said.
Brisbane and Adelaide saw the monthly pace of growth
accelerate in July, leading the pace of gains across the capitals
with housing values up 1.4% across both cities. Although the trend
in new listings has risen in these cities, Mr Lawless said the number
remains well below levels from a year ago and the previous five
year average.
Canberra was the only capital city to record a decline in values in
July, down -0.1%, while Hobart values were unchanged.
The slowdown in value growth has mostly been driven by an
easing in gains across the upper quartile of the market.
Brisbane (1.4%)
CoreLogic’s national Home Value Index (HVI) has recorded a third consecutive monthly rise, with the pace of growth accelerating sharply to 1.2% in May.
After finding a floor in February, home values increased 0.6% and 0.5% through March and April respectively.
Sydney continues to lead the recovery trend, posting a 1.8% lift in values over the month, recording the city’s highest monthly gain since September 2021. Since moving through a trough in January, home values have risen by 4.8%, or the equivalent of a $48,390 lift in the median dwelling value.
Brisbane (1.4%) and Perth (1.3%) are the only other capitals to record a monthly gain of more than 1.0%, however, the rise in values was broad-based with the rate of growth accelerating across every capital city last month.
CoreLogic’s Research Director, Tim Lawless, noted the positive trend is a symptom of persistently low levels of available housing supply running up against rising housing demand.
“Advertised listings trended lower through May with roughly 1,800 fewer capital city homes advertised for sale relative to the end of April. Inventory levels are -15.3% lower than they were at the same time last year and -24.4% below the previous five-year average for this time of year,” he said.
“With such a short supply of available housing stock, buyers are becoming more competitive and there’s an element of FOMO creeping into the market. Amid increased competition, auction clearance rates have trended higher, holding at 70% or above over the past three weeks. For private treaty sales, homes are selling faster and with less vendor discounting.”
The trend in regional housing values has also picked up, with the combined regionals index rising half a percent in April, following a 0.2% and 0.1% rise in March and April.
“Although regional home values are trending higher, the rate of gain hasn’t kept pace with the capitals. Over the past three months, growth in the combined capitals index was more than triple the pace of growth seen across the combined regionals at 2.8% and 0.8% respectively,” Mr Lawless said.
“Although advertised housing supply remains tight across regional Australia, demand from net overseas migration is less substantial. ABS data points to around 15% of Australia’s net overseas migration being centered in the regions each year. Additionally, a slowdown in internal migration rates across the regions has helped to ease the demand side pressures on housing.”
Premium housing markets in Sydney continue to lead the recovery trend. After recording a larger drop in values, Sydney’s upper quartile (the most expensive quarter) stands out with the highest rate of growth, gaining 5.6% over the past three months compared with a 2.6% rise in more affordable lower quartile values.
“Buyers targeting the premium sector of the market are still buying at well below peak prices,” Mr Lawless said.
“Although values across more expensive homes are rising more rapidly, ......
January marked a new record for how much and how fast dwelling
values have fallen in Australia. Based on the monthly index, the
national HVI is down -8.9% since peaking in April last year, making this
the largest and fastest decline in values since at least 1980 when
CoreLogic’s records began.
So far, Brisbane (-10.8%*
) and Hobart (-10.8%) have registered the
largest declines on record for those cities. Sydney home values are down
-13.8% and not far from surpassing the 2017-19 drop of -14.9% to set a
new decline record.
The third edition of the CoreLogic
Women and Property report provides
an update to the state of home
ownership for men and women across
Australia and New Zealand as of
January 2023.
Best Regards,
Linda 姬琳达珍 and Carlos Debello (LREA)
LJ Gilland Real Estate Pty Ltd
Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/
This document provides an overview and outlook of the Australian property market in 2022 and 2023. It summarizes that rising interest rates led to a decline in national home values in 2022, with values falling 3.2% nationally driven by a 5.2% decline in capital cities. Regional home values rose 3.3% over the year. The outlook expects further interest rate rises and home value declines in 2023, with a potential bottoming out once interest rates peak, though serviceability remains a risk. Rental growth was strong in 2022 and migration recovery could boost investor and first home buyer activity as values find a floor.
The national monthly increase of 1.3% is the slowest rate of growth since January 2021 when values rose 0.9%. The annual increase of 22.2% has added approximately $126,700 to the median value of an Australian home in the last 12 months.
Beyond the headline figure, capital city and regional home values are diversifying as stock levels rise and affordability decreases. Houses continue to outperform units, regional markets and rental growth remain strong and a rise in listings is contributing to a subtle softening in vendor metrics such as days on market and auction clearance rates.
Will it be a hot, warm or cool summer for the market?
Foreign nationals bought up more than $55.8 billion worth of Australian property during the last financial year, down 33% as the pandemic shut the country’s borders.
The Foreign Investment Board’s annual report shows property approvals were down again, having almost halved in the space of just four years.
The report shows Chinese investment was up 16% over the same period, while Queensland is quickly becoming a “top destination” for foreign investment.
According to a variety of reported opinions, it’s Brisbane’s time to shine. The city has seen a stop- start-stagnate property market for close to a decade, with myriad factors (floods, unit oversupply, high unemployment, global pandemic) keeping our values
Australian housing values finished the year 3.0% higher according to data released by @corelogicau today. The growth rate for regional housing values (+6.9%) was more than three times higher than the pace of growth across the capital cities (+2.0%)
This document provides an overview of the residential property market in Australia, specifically discussing whether the traditionally strong Spring selling season will see increased activity in 2020 given the COVID-19 pandemic. It includes the following:
- National property market updates on housing and units from Herron Todd White valuers. Many coastal and regional markets are still seeing good demand while city unit markets have weakened.
- Discussion on the Sydney market, noting inner-city family homes have remained price resilient. The $1-2.5M inner-west sector is performing well. More listings are expected in Spring but downward price pressure may increase with more stock.
- Comments from real estate agents that while listing and transaction volumes are down year-
“The blowout in rental vacancy rates for the major CBDs suggests a mass exodus of tenants occurred over the course of March and April. This might be attributed to the significant loss in employment in our CBDs plus the drop off in international students,” he said.
Brisbane and Adelaide both saw their CBD vacancy rate double as well, albeit from smaller bases, jumping to 11.3% and 6.6% apiece.
Looking at the capital city markets as a whole, Darwin proved the only exception to rising rates across the board.
CoreLogic head of research Tim Lawless said, “Although housing values were generally slightly positive over the month, the trend has clearly weakened since mid-to-late March, when social distancing policies were implemented and consumer sentiment started to plummet.”
The capital city markets generally showed a weaker performance relative to the regional markets, with the combined capital cities index up 0.2% in April compared with a 0.5% rise across the combined regional markets.
View the COVID-19 V Australian Property Report here. At a Glance:
Even with the impact of COVID-19, the experts most commonly believe in 12 months prices will be higher than they are now (27 percent of respondents).
Overwhelmingly, (72 percent) of respondents, felt that NSW would be the hardest hit.
Short Term residential rental properties, like AIRBNB and holiday homes, are in the firing line, whilst high cashflow and diversified rooming houses on fixed-term leases are highlighted as the most resilient.
Respondents said the peak COVID-19 impact would be felt between the 3 to 12-month mark from mid-March 2020
Valuing experts explore what buyers are looking for in each housing market. This is especially useful knowledge as the market establishes its direction for 2020.
Housing values rose across Australian cities and regions in January 2020, according to CoreLogic's Hedonic Home Value Index. Sydney and Melbourne saw the strongest gains of 1.1% and 1.2% respectively. Overall the national index was up 0.9% in January, bringing the annual growth rate to 4.1%. While the recovery is broad-based, slowing growth signals affordability pressures are rising in large cities like Sydney and Melbourne.
Dwelling values rose by 1.1% over the month of December and by 4.0% over the quarter to finish out 2019 on a positive note according to the CoreLogic national home value index. This result represents the fastest rate of national dwelling value growth over any three month period since November 2009. Darwin was the only region amongst the capital cities and ‘rest-of-state’ areas to record a fall in values over the month, with a -0.5% decline
Dwelling values rose 1.2% nationally in October, marking the fourth consecutive month of growth. Melbourne had the strongest growth at 2.3%, overtaking Sydney, while Perth was the only capital city to decline. Rental yields are falling due to rising values and stagnant rents. While listings remain low, buyer demand is improving the market recovery.
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R 7
1. REIA NEWS
ISSUE ONE: MAY 2011
THE FEDERAL
BUDGET:
WHAT ARE THE
IMPLICATIONS FOR THE
HOUSING MARKET? ALSO IN THIS ISSUE:
PROPERTY PURCHASE:
ARE WOMEN OUT IN FORCE?
THE GREAT DEBATE:
WHAT HOUSING BUBBLE?
TAX FORUM:
WHAT CAN WE EXPECT ON PROPERTY TAXES?
HOUSE PRICE MOVEMENTS:
WHY ARE THERE SO MANY VARYING ESTIMATES?
2. WANT TO FIND OUT MORE
ABOUT PROMOTING YOUR
BRAND IN REIA NEWS?
CONTACT REIA MANAGER COMMUNICATIONSRHIANNON MCCLELLAND
ON 02 6282 4277 OR AT RHIANNON.MCCLELLAND@REIA.COM.AU FOR
FURTHER INFORMATION.
3. PRESIDENT’S REPORT
WELCOME:
TO AN EXCITING NEW ERA FOR REIA
Each month, we will provide you Over the last month, the
with a document that addresses softening of house prices and
what is happening in your state the general state of the property
or territory, real estate news from market has been in the spotlight.
around the world and important
news from Parliament House. REIA felt that it was important
to explain the change in median
The newsletter will include house prices to ensure that the
in-depth analysis on important doomsayers are set straight on
issues from REIA Manager Policy, the natural cycle of house prices
Jock Kreitals, REIA Manager in Australia; our media release
Communications, Rhiannon titled ‘Decreased house prices
McClelland and REIA Research can be attributed to natural
Officer, Johan Rojas. cycle’ can is available by clicking
I would like to welcome all here.
As your representative to the
readers to the first edition of Government in Canberra, it is In this edition, we have also
REIA’s new monthly newsletter, appropriate that our first edition addressed the issue of varying
REIA News. is focused around the Federal median house price figures
REIA is entering an exciting era Budget and the impact that this to provide readers with an
led by the board and new CEO, will have on the profession. understanding of different
Amanda Lynch, and it is only sources and how they vary.
The Budget wasn’t quite the
fitting that as your national spectacle that we were expecting We would like to thank our Real
lobbying body, we provide you which is good in some ways and News readers for your loyalty.
with an interesting newsletter not in others; no changes to We hope that that REIA News is
centered around the issues that negative gearing on property but an enjoyable and informing read.
are important to you and the real no focus on housing affordability.
estate profession.
4.
5. INDUSTRY ARTICLE
INSURING YOUR RENT ROLL:
WHY IT SHOULDN’T BE OVERLOOKED
In addition to providing If the landlord has appropriate suffer financial difficulties that
insurance, they will be covered for leave them unable to pay their
cover for landlords, legal liability for occurrences on rent.
landlord insurance has the property that cause death or
unique benefits for bodily injury.
property managers and ‘...they can still
But, if the landlord doesn’t have
their agencies: insurance, the tenant may direct lose their jobs or
Less risk
their claim towards you and your
agency.
suffer financial
An insured rent roll can help to
protect you and your agency from
difficulties.’
Less stress
professional indemnity claims. Most property managers dread
If a tenant injures themselves in the thought of having to tell a Similarly, you might inform your
a rental property as a result of landlord that something has landlords when maintenance
neglected maintenance work, happened to their property. work is required on their
they may decide to sue their property, but you cannot control
landlord. It’s much easier to pick up the whether they will act upon this.
phone and tell a landlord that a
loss has occurred when they have In these situations, landlord
‘If the landlord insurance cover in place. insurance provides peace of
mind that your landlords – as
has appropriate Peace of mind well as you and your agency –
Despite your good intentions and will be protected.
insurance, they will the strict procedures you have in
be covered for legal place, things can still go wrong. For further information, visit
www.terrischeer.com.au or call
liability.’ You can select the very best 1800 804 016.
tenants for your landlords, but
they can still lose their jobs or
6. INDUSTRY ARTICLE
INSURANCE ADVICE:
PLANNING FOR THE UNEXPECTED
Read, know and By taking the time to read through deductible appropriate for your
policies in detail, an organisation business.
understand. When can work on mitigating potential
was the last time you losses in the future.
read through your ‘...an organisation
Key points to keep in mind
organisation’s insurance when reviewing documentation needs to clearly
policies? It’s critical that includes: understand what
all policies and coverage
options are reviewed on
• How will the policy respond to type of cover they
a particular event?
a regular basis. • Do you understand the have...’
implications of one coverage
Following the devastation caused option over another? It has become paramount
by floods in Queensland, northern • Does your policy address all that as the insured party, an
New South Wales and Victoria, it your business concerns? organisation needs to clearly
is crucial for businesses to assess
understand what type of cover
their continuity plans and how to Floods
they have and how it will
prepare for the unexpected. In the case of natural disasters,
respond in the event of storm
if flood is a real exposure and
damage versus a flood.
is required, this would need
‘...an organisation to be investigated with your Currently, there isn’t a standard
broker as policies often do not
can work on automatically include flood cover.
definition of flood for insurance
purposes and it can vary from
mitigating potential You’ll also need to consider an policy to policy with different
losses in the future.’ adequate predetermined flood insurers.
limit cover and a flood specific In general terms a flood is
often defined as the release of
7. water from a natural course such
as a river, dam or stream onto
‘It’s never too • Value and protect your
trading income.
otherwise dry land. This differs to late to take stock • Identify the hazards and
storm water run-off which may risks to your business to
be described as a body of water and plan for the adequately risk manage
making its way to a water course. remainder of against them to avoid
potential for a claim.
Expertise 2011...’ • Make sure you understand
Against this backdrop of policy your policy, what’s covered
terminology, it’s important to deal and how it will respond in
In terms of your coverage the
with an experienced insurance the event of a claim.
following are some key points
broker who can identify potential • Always ensure past claims
to consider when assessing your
exposures and develop a plan are disclosed in full to your
insurance options:
to manage the risks by way of insurance broker and insurer.
insurance where appropriate. • Most importantly, establish
a relationship with a trusted Aon – here to help
With Aon, you get the benefits As your broker, Aon is here to
insurance broker who
of secure insurers, quality provide you with professional
understands your industry
cover, experienced brokers, in- guidance and assistance, and to
and your business insurance
depth industry knowledge and liaise with the insurer on your
requirements.
competitive premiums. behalf.
• Make sure you are fully
Thinking ahead covered – underinsurance can
Visit our website at www.aon.
So how does one avoid future and be costly.
com.au/realestate for more
unexpected events? • Understand the full
information or call your local
Well, it’s never too late to take replacement value of your
Aon representative on 1300 734
stock and plan for the remainder assets, new for old. Obtain a
274.
of 2011 and beyond – with an current property valuation if
insurance health check. necessary.
8. ON THE COVER
THE FEDERAL BUDGET:
WHAT ARE THE IMPLICATIONS FOR THE HOUSING MARKET?
Real Estate Institute Unfortunately, housing
affordability has been ignored by
‘Unfortunately,
of Australia (REIA) the Government. housing
management entered
the Federal Budget This is disappointing, given affordability has
Lock-Up with the
the critical state of housing
affordability in Australia and
been ignored by
expectation that we that first home buyers now the Government.’
would be criticising the make up only 15 per cent of the
purchasers’ market when this
Government for changes figure was as high as 30 per cent
considered the plight of
to negative gearing on those looking to purchase an
in October 2009, during the time affordable home is a ‘suburban
property, but not so. of the First Home Owner Grant jobs initiative’ which will be
Boost (FHOG Boost).
To our surprise, the Budget wasn’t implemented to encourage
quite the horror Budget that most In the recommendations REIA put the creation of employment
expected, with a fairly even mix of to the Government in our Pre- precincts in outer metropolitan
positive and negative implications Budget submission, we called for suburbs and provide support for
for the real estate profession and a review of the First Home Owner regional areas to plan for future
housing market. Grant (FHOG) but also thought growth in housing supply.
outside the square and proposed The Government will also wind-
first home buyers be granted down the Housing Affordability
‘...the Budget access to their superannuation to Fund (HAF) in 2012-13; REIA
make purchasing a home more
wasn’t quite the achievable.
called for a review of the HAF
in its Pre-Budget Submission to
horror Budget that The only indication that the assess its effectiveness.
most expected.’ Government has
For ease of understanding, REIA
has broken the issues that will
9. WHAT IS BEING SAID POST-BUDGET?
“Difficulties accessing affordable credit “Unfortunately, the Budget fails to A growing population deserves
will be made worse as this Budget puts deliver any dedicated policies to alleviate affordable homes and housing choice”
upward pressure on interest rates and Australia’s chronic housing shortage,
the Commonwealth borrowings of which at around 200,000 dweliings and Peter Verwer, Chief Executive,
$135 million a day crowds out small growing, continues to place pressure on Property Countil of Australia
businesses seeking finance. Burgeoning the households budget of home buyers
red-tape burdens are made worse and renters” “We welcome tonight’s announcement
with new disincentives and punishing as the first step in the development
reporting requirements for independent Andrew Harvey, Senior Economist, of a National Urban Policy, but we are
contracting and new compliance Housing Industry Association concerned that housing is merely a
complexities for employer-supplied footnote in the budget”
vehicles.” “The Government’s investment in skills
and employment alone is welcome Caryn Kakas, Executive Director ,
Bruce Billson, but may not be enough to lift business The Residential Development Council
Shadow Minister for Small Business and consumer confidence, and bolder
leadership is likely to be needed over the
‘The Budget is silent on the crisis in coming period to secure Australia’s
affordable housing. The only good
housing news in the budget reflects the
economic future.”
QUICK LINKS
Greens win on preserving the National Wilhelm Harnisch, Chief Executive
Rental Affordability Scheme. Apart from Officer, Master Builders Australia • REIA Budget Overview
that, the housing affordability agenda • REIA Budget Media
has stalled.’ “ A more productive economy, along Release
with a larger and more skilled labour • REIA Pre-Budget
Senator Scott Ludlam force,needs affordable housing.
Australian Greens Submission
have implications for the real Rental Affordability Scheme • Implementation of a
estate profession and housing (NRAS) over a longer period ‘suburban jobs initiative’
into three categories; property of time. • Funds allocated to Training
specific, property related and • No expenditure by to meet skills shortages
small business. Department of Climate • Funds allocated to
Change and Energy Efficiency investment in regions
Property specific for roll-out of mandatory
• No change to negative disclosure of Energy Efficiency Small business
gearing arrangements Ratings (EERs). • Tightening of FBT for
• No change to Capital Gains • Restoration of the treatment employers
Tax (CGT) arrangements of GST on new residential • Changes to the company tax
• No change to the assistance developments rate
currently provided to first • Deduction on a motor
home buyers (retention of the Property related vehicle
FHOG). • Inflation and underlying • Simpler depreciation to
• The Government will spread inflation to increase longer-life assets
the roll-out of the National • Write-off of assets under
$5,000
• Paid Paternity Leave
• Continuation of the Small
THE FIGURES 2010/11 2011/12 2012/13 Business Support Line
Budget surplus - cash balance REIA has put together a more in-
-49.4 -22.6 3.5
($billion)
depth overview of each of these
Consumer Price Index
(percentage) 3.25 2.75 3.0 points to assist you, download
Unemployment by clicking here.
5.0 4.75 4.25
(percentage change)
Private investment in dwellings 2.5 1.5 3
(percentage change)
10. PROPERTY PURCHASE:
ARE WOMEN OUT IN FORCE?
A new report released However, anecdotal evidence increase in the number of
from the lender suggests the women buying for investment
by RAMS suggests that trend towards sole female purposes.”
Australian women are property ownership varies across
not waiting to find the states. There is no formal research
showing actual figures of
perfect man. Cheryl Haywood, Principal of the percentage of women
The research has assessed lending RAMS Southern Vales in South purchasing, however, there is
applications of clients and RAMS Australia said “I’ve dealt with enough anecdotal evidence to
Chief Operating Officer, Susan a number of single female draw the conclusion that females
Bannigan said there is a growing refinance deals as newly single play a very important role in the
trend towards sole home loan women reposition themselves purchase of a home.
applications from women. as the household owner as a
result of a marital or relationship REIA sought further information
“The last year has seen the breakdown. These kinds of deals on this issue from John Runko,
number of sole home loan are becoming more and more CEO of Independent Property
applications submitted to us by common.” Group (2011 REIA Hall of Fame
women reach an almost 50% Awardee for Large Residential
nationwide split with sole male Jenny Karabatsos, Business Agency of the Year and
applicants who usually make 70% Manager at RAMS Alphington Communications Award), Peter
of sole applications,” she said. in Victoria says she has noticed Sissons, Managing Director of
the change at her local office, Sissons Estate Agents (2011 REIA
RAMS formal research does not “Over the last year we’ve seen a Hall of Fame Awardee for Small
clarify whether females applying definite increase in the number Residential Agency of the Year)
for loans are applying on behalf of women visiting us to talk about and Tim Heavyside, Director of
of them and their partner or sole application home loans. The Fletchers Real Estate (Winner
whether they are entering the majority tends to be for owner of the 2011 REIA Residential
property market on their own. occupier loans but there is also an Salesperson of the Year).
11. WEIGHING IN:
John Runko, CEO, Peter Sissons, Managing Tim Heavyside, Director
Independent Property Director, Sissons Estate Fletchers Real Estate
Group Agents
“A recent sample of almost 600 “For quite some time, the major “Success stories of young
property transactions conducted decision-maker has been the females who purchase all
by Independent Property Group female. forms of real estate, are now
this year, revealed that contrary commonplace. With more
to popular opinion, the gender Men tend to regard a purchase power, education, confidence
balance of women buying as buying a house and are and cash, more and more
property in Canberra remains more analytically focused in
women are buying real estate
relatively unchanged. their decision-making process, either alone or with a partner
whereas ladies regard their as the main decision-maker.
Of the sample size, 49% of purchase from a point of view of it Women tend to see potential
properties were bought by being a home and emotion plays and look at homes from a
couples, 34% were bought by a more significant role when it practical angle.
men on their own and 17% were comes time to make a decision.
bought by women on their own. I would say that people looking
If anything, the trend had swung Over recent times we have seen to buy consist of an even mix of
more to single people buying more young single ladies and gender.
on their own, with only half the female divorcees purchasing in
sample properties being bought their own right. However, when a couple is
jointly by couples. purchasing together, 90% of
Presentation, maintenance and the time it is the wife or the
Although men bought twice as cleanliness play big parts in a girlfriend who have the power
many of the sample properties on ladies’ decision-making process, to ‘tip the balance’. There is a
their own than women, women as in our experience they prefer saying in life, ‘happy wife, happy
are certainly having a greater not to incur additional work in life’. I know that’s the case in my
influence in the buying decision of fixing up a property after they marriage!”
couples than they have had in the purchase.“
past.”
12. THE GREAT PROPERTY DEBATE:
WHAT HOUSING BUBBLE?
REIA CEO, Amanda Lynch Property Group.
will participate in a live panel
discussion on Tuesday 7 June
• Professor Steve Keen,
Associate Professor University SEE THE
at the Wesley Centre in Sydney,
regarding the much-debated •
of Western Sydney N.S.W.
Kris Sayce, Editor & Chief,
DEBATE FOR
housing bubble.
•
Money Morning Publication.
David Collyer, Campaign
JUST $40
The so-called housing bubble has
Director, Prosper
been a topic of much discussion As a subscriber of REIA
Organisation.
over the past few years and News, you can purchase a
the debate aims to put all the Master of Ceremonies for the ticket to this event for just
opposing opinions on one stage event will be Mr David Hayward, $40.00.
and have a not-to-be-missed Chief Executive of The Money
discussion about house prices and Details are as follows:
Institute.
where the market is headed.
As a member of the real estate
Those participating in the debate When: 7th June, 201
profession and subscriber of REIA
are: Start time: 11.30am
News, you have the opportunity
Finish time: 2.00pm
to see the debate for just $40.00
• Amanda Lynch, Chief Where: Wesley Centre, 220
(normally $50.00).
Executive Officer, Real Pitt St, Sydney
Institute of Australia (REIA). For background information Info Hotline: 02 8004 2444
• Harley Dale, Chief Economist, on REIA’s position and research Register online: (Limited
Housing Industry Association conducted by the Institute. seats available) .
(HIA). click here. Click here to register.
• Shane Oliver, Chief Economist,
AMP Capital Markets.
• Dr Tony Hayek, Chief
Executive Officer, Blue Wealth
13. AND THE OPINIONS ARE...
Amanda Lynch Harley Dale Professor Steve Keen,
CEO, Real Estate Institute Chief Economist, Housing University of Western
of Australia Industry Association Sydney & Debt Watch
“Many analysts have focused ‘“House price crash talk isn’t “Rising mortgage debt caused
their attention on the house new and it continues to be the house price bubble; now
price-to-income ratio in more successful than any other that debt has peaked, the
Australia and observed that topic in generating sensational same force that drove house
it is high compared to other headlines that scare the living prices up will drag them
countries, even at levels similar daylights out of people. down.”
to those in the US before
prices crashed. There are many challenges
facing the Australian residential
However, this ratio is not sector, including the need to aid
an accurate and sufficient entry level buyers and rental
indicator of housing households.
overvaluation, and other house
price determinants need to be The focus should be on what
considered.” needs to be done to alleviate
upward pressure on dwelling
prices.”
TO SEE THE OPINIONS OF ALL PARTICIPANTS
IN THE GREAT DEBATE, CLICK HERE.
14. TAX FORUM:
WHAT CAN WE EXPECT ON PROPERTY TAXES?
In early April, the Federal ‘In 2007, the This would be the most efficient
means of raising revenue. The
Government announced incoming Labor reason given is that land is an
that it will hold a Tax immobile resource and land tax
Forum on Tuesday 4 Government generates a more stable source
October and Wednesday showed an initial of revenue.
5 October at Parliament zest for reform...’ Additionally, according to the
House in Canberra. Henry Review, stamp duties
In 2007, the incoming Labor are highly inequitable because
The forum, which stems from Government showed an initial they discourage transactions of
a commitment linked to the zest for reform and commissioned residential property and people
support of Independents to form the comprehensive review from changing their place of
a minority Labor Government Australia’s Future Tax System residence as their personal
following the 2010 election, (Henry Review). circumstances change.
will have sessions to discuss,
amongst other things, state taxes Regrettably, GST was not part
- including property taxes. of the considerations, which ‘...stamp duties are
hampered the Henry Review’s
REIA has been lobbying the considerations. highly inequitable
Federal Government that
state-based property taxes are The review noted that state- because they
inequitable, inefficient and an based property taxes are highly discourage
unstable source of revenue and inefficient and an unstable source
has suggested that replacing of revenue for states and should transactions
property taxes with other more be replaced by an alternative
broad-based tax such as a land
of residential
efficient taxes would provide
considerable economic benefits. tax. property...”
15. This article is brought to you by REIA Manager Policy, Jock
Kreitals. Jock can be contacted at jock.kreitals@reia.com.au
The Henry Review also made It could be argued that with a Modelling undertaken shows
the following recommendations number of difficult current issues that by removing conveyancing
regarding property: to deal with, including carbon and insurance duties and
pricing, a low standing in the polls, reducing land tax and funding
• The replacement of negative and a precarious hold on power, the shortfall by a federal and/
gearing and capital gains taxes the appetite of the Government or state broad based tax, GDP
with the introduction of a 40 for any serious immediate reform growth of 1.7% would result.
per cent discount for income in regard to property taxes is not
from rental properties. likely to be high. REIA will be seeking a
• The replacement of the commitment to reform over the
current Capital Gains Tax Nevertheless, REIA will be strongly longer term as the economic
(CGT) arrangements with an presenting its case for reform of benefits are clear.
accrual-based system. state property taxes.
REIA will also be seeking
• Owner-occupied housing The REIA will point out that maintenance of existing
should be tax exempt. reform of state property taxes will arrangements regarding CGT and
The Government, in its response lead to economic growth. negative gearing.
to the Henry Review just one year Economic growth provided by
ago did not accept any of these
and specifically rejected ‘REIA will be reforms to property taxation
should be of interest to all
the following: strongly presenting governments as we cannot rely
• Introducing a land tax on the its case for reform on the Chinese boom to provide
the impetus for growth for ever.
•
family home;
Reducing the CGT discount,
of state property
and; taxes.’
• Applying a discount to
negative gearing deductions.
16. PROPERTY PRICE MOVEMENTS:
WHY ARE THERE SO MANY VARYING ESTIMATES?
The media quotes many of bedrooms/bathrooms,
improvements and so on.
‘Movement in
sources when reporting house prices
on the latest movements Several property data providers
in house prices, meaning – REIA (Real Estate Market Facts are very hard
one could be excused
report), APM, RPdata, ABS and
Residex publish house price
to measure
for thinking that they movements. accurately as each
cannot all be correct. As can be seen in the table of house differs from
REIA explains why they
are correct and how they
house price movements (to the
right) for the December quarter
the next.’
differ. 2010, estimates vary greatly by
each data provider. In summary, the approaches
employed are:
The differences arise from
‘One could be differences in methodology and REIA – House price growth rates
excused for thinking the sources of data. are based on “raw” median
price. The median price is the
they cannot all be All property data providers collect middle value of property sale
data from the Valuer Generals’ or
correct...’ Land Titles’ offices in each state
prices in their ascending order.
and territory. RP Data-Rismark – Applies
Movements in house prices are hedonic measures that are
very hard to measure accurately With the exception of NSW, based on regression techniques
as each house differs from the SA, and ACT, the REIA collects to control for compositional
next in regards to location, size, property data from the Real changes and quality change.
aspect, build quality, number Estate Institutes, which, in This methodology requires
turn collect data from their detailed information on the
corresponding state departments.
17. This article is brought to you by REIA Research Officer, Johann
Rojas. Johan can be contacted at johann.rojas@reia.com.au
characteristics of the homes sold methodology employed by APM explain the discrepancy of price
i.e. land size, location, number of but with some modifications. growth estimations between
bathrooms/bedrooms, etc. REIA and the rest of property
Residex – Uses a repeat sales data providers.
APM – Employs a stratified method which consists of
median price method to control examining purchases and sales of The REIA’s property price
for compositional changes in the the same properties over time. estimates provide a good
sample of transactions. assessment of the dynamics of
These differences in the property market in Australia,
ABS – Employs a stratified methodologies, along with the as they show not only the
median price method similar to differences in data sources, most recent property market
trends but also the historical
trend of property prices since
House Price Movements - December Quarter 2010 1980, providing a useful source
City RP data APM ABS REIA for short-term and long term
analysis of property price
Sydney -0.5% 1.1% 1.6% 1.1% movements in Australia.
Melbourne -1.0% 2.1% 1.3% 6.9%
For further information on
Brisbane -1.1% -1.4% 0.7% 0.6% REIA reports and REIA data
Adelaide 1.1% 0.2% 1.1% 1.4% spreadsheets, click here.
Canberra -1.7% 1.7% 1.9% -1.0% The REIA collects NSW, South Australia and ACT
property data from APM, the Department for
Perth -2.4% -1.5% -3.2% -1.8% Transport, Energy and Infrastructure and ACTPLA,
respectively. REIV collects property data from
Hobart n/a 2.6% 1.1% 0.7% real estate agents, REIQ from the Department of
Environment and Resource Management, REIWA
Darwin -1.4% -0.4% 0.0% 1.3% from the Western Australia Department of Land
Administration, REIT from real estate agents and
Australia -0.9% 0.7% 0.7% 2.4% REINT from the Australian Valuation Office for the
Valuer-General of the Northern Territory.
18. Industry Update
Industry news from around Australia
Land release the goal for the Dr Richards oversees the RBA’s event. Click here to register your
ACT Budget analysis of the domestic and place.
international economies for the
ACT Treasurer Katy Gallagher monetary policy process and NT Budget delivers for
has handed down the ACT will be providing an overview housing
Government’s 2011-12 Budget. of economic conditions at the
luncheon. The NT Budget 2011-12 Budget
The ACT Treasurer said has placed a focus on helping
affordability is important and to Dr Richards began his career families to get ahead.
continue to address the supply of in the Reserve Bank, before
affordable housing in the territory, spending ten years at the The Henderson Government
in 2011-12 the Government will International Monetary Fund in said the 2011-12 Territory
release 5,500 dwelling sites on Washington DC and his academic Budget delivers BuildBonus, a
2011-12, and a total of 18,500 and policy research has been $10,000 grant to homebuyers to
over the next four years. published in leading international purchase or build a new home
economic and financial journals. to the value of $530,000 to help
REIQ: RBA economic He holds a Bachelor of Economics families get ahead and stimulate
with Honours from Sydney more housing construction.
outlook University, a Masters in Public
BuildBonus applies from the
The Real Estate Institute of Administration from Harvard
release of the Budget for
Queensland (REIQ) and Aon University, and a Ph.D. in Business
contracts signed to the 31
are proud to present Dr Tony Administration from the George
December 2011, where
Richards, head of the Reserve Washington University.
construction has commenced
Bank of Australia (RBA) economic from 3 May 2011. The scheme
The REIQ invites you to join us at
analysis department at the 2011 aims to stimulate new home
the exclusive REIQ member price.
Principal Licensee Luncheon construction, particularly for unit
on May 27 at the Sofitel Hotel For the most accurate economic developments in the pipeline.
Brisbane. insight of 2011, don’t miss this
19. Making News
General national news
New national building building or upgrade of an and taxes and continuing global
standards existing public building. uncertainties.
For further information, While the index of Expected
Last week, the Gillard
click here. Economic Performance
Government announced rebounded from its recent
the start of new building trough in the March quarter, the
accessibility standards, which Business Expectations
index remains significantly below
will ensure all new and Survey shows weakness in the level recorded in March
upgraded public buildings in business conditions 2010.
Australia will be accessible to
people with a disability. The May 2011 Commonwealth For further information,
Bank - ACCI Business Expectations click here.
The Disability (Access to Survey found most actual and
Buildings - Premises) Standards expectation indicators for Report of the Senate
2010 (Premises Standards), business deteriorated over the Economics References
is an important milestone in March quarter compared to the
the Government’s National
Committee
same time last year, except the
Disability Strategy. The start indexes of Wage Growth, Non-
The Senate Economics
of the national Premises Wage Labour Costs, Employment,
Committee has handed down
Standards marks a huge and Investment in Plant and
a report on competition in the
improvement for access to Equipment.
Australian Banking Sector.
buildings for people with
disability, Attorney-General Overall business sentiment
REIA put a submission forward
remained soft in the March
Robert McClelland said. From to the Inquiry.
quarter amid a spate of severe
this month, the new Premises
natural disasters, the appreciation To view the report, click here.
Standards will apply to any
of the Australian dollar, the
application for a building
prospect of rising interest rates
approval for a new public
20. Political Watch
Information and news from government
Government announces financial environmental for small the out-of-pocket costs for a
Federal Budget business in Australia. typical 1.5 kilowatt (kW) solar
panel system, before taking into
To view the REIA’s media account ongoing electricity cost
The Treasurer, Wayne Swan, release on this issue and see the
said the 2011-12 Budget will get savings and any state or territory
reccomendations made in the based feed-in tariff incentives.
Australia back in the black, get
report, click here.
more people in jobs and spread It could be useful for real
the opportunities of the mining estate professionals to have
boom to more Australians. The Climate Change Minister
background information on this
Government will return the announces changes to solar topic when selling a home with
budget to surplus in 2012-13, credits roof-top solar panels.
according to the Treasurer.
The Minister for Climate Change To download the fact sheet,
Access to finance for small and Energy Efficiency, Greg click here.
and medium business Combet, announced adjustments
to the Solar Credits arrangements ACMA reminds industry
in light of continued strong about privacy obligations
Last week the the Parliamentary
growth in the industry, the impact
Joint Committee on Corporations
of this on electricity prices, and
and Financial Services handed Australian Privacy Awareness
the impact of the Solar Credits on
down its report as a result of the Week was held from 2-7
demand for other clean energy
Inquiry into Access to Finance for May and the Australian
technologies such as solar hot
Small and Medium Business. Communication & Media
water heaters. Authority (ACMA) have taken
The committee made a number the opportunity to remind
From 1 July 2011, the Solar
of recommendations that, if relevant industries that
Credits multiplier will provide
implemented, will improve the privacy is very important
households with upfront support
equivalent to around a third of
21. Political Watch
Information and news from government
when dealing with consumer in Melbourne (-2.5%), Sydney falls in Western Australia (-8.4%),
information. (-1.8%), Brisbane (-2.5%), New South Wales (-5.6%) and
Adelaide (-1.0%), Canberra South Australia (-2.1%) while
REIA have kept provided (-0.4%) and Darwin (-1.0%), and there were rises in Queensland
information via our previous increased in Perth (+0.5%) and (8.2%) and Victoria (3.7%).
newsletter format, Real News, Hobart (+0.4%).
on what your obligations are as For further information,
a property professional. For further information, click here.
click here.
If you would like to refresh
your understanding of what ABS Consumer Price Index
is required of you by law ABS Building Approvals
The Australian Bureau of
when dealing with consumer
ABS Building Approvals show that Statistics (ABS) last month
information, click here.
the total number of dwellings released the Consumer Price
approved rose 9.1% in March Index for December 2011.
ABS House Price Index 2011, in seasonally adjusted
terms, after falling 5.3% in The Index rose 1.6% in the
The Australian Bureau of February. Dwelling approvals March quarter 2011, compared
Statistics (ABS) last week increased for the month of March with a rise of 0.4% in the
released the House Price Index in Victoria (26.8%), New South December quarter 2010. This
for the March Quarter 2011. Wales (8.5%), Tasmania (5.8%) is the largest quarterly rise in
and Western Australia (3.4%) the CPI since June quarter 2006
Preliminary estimates show when the CPI increased 1.6%. .
while South Australia (-22.5%) and
the price index for established Queensland (-15.0%) recorded
houses for the weighted For further information,
decreases in seasonally adjusted
average of the eight capital click here.
terms. In seasonally adjusted
cities decreased 1.7% in the terms, approvals for private sector
March quarter 2011. The houses fell 0.8% in March with
capital city indexes decreased
22. The World
Property news from around the world
US established house sales we’re clearly on a recovery path,” since the second half of last
on the increase he said. year, ordering banks to bring
their off balance-sheet trust
However, Mr Yun noted that a loans back onto their books.
According to the National number of potential home buyers
Association of Realtors (NAR), are still facing difficulties when it In March alone, at least
sales of existing homes within comes to obtaining a mortgage. 35 property trusts were
the US property market are on launched, totalling 9.8 billion
the long road to recovery in yuan ($1.5 billion), double
China reportedly
March. February’s level, the Beijing
tightening rules for
Times said.
With sales bottoming out last property trusts
July, news that the number of
transactions completed over the A leading Chinese newspaper, Rents hit the roof in
course of the month increased is has this month reported that Mumbai, up by 11%
sure to be welcomed by investors. among new requirements,
property developers may be Rising realty rates may have
A seasonally-adjusted 3.7 per ordered to set aside more cash resulted in a sharp decline
cent growth in single-family, before they sell their projects in property sales, but it has
townhomes, condominiums to investors via trusts. led to a growth in rental
and co-op sales was recorded in value in Mumbai and other
March. If implemented, these new metropolitan cities in the
requirements would make country. Mumbai and the
Lawrence Yun, NAR chief it even harder for property
economist, said that he expected outskirts of the city has seen
developers to get funding. an 11% growth in rental value
the improving sales pattern within
the US market to continue. in the past year, according to
The China Banking Regulatory
a study conducted by private
Commission, the banking
“Existing-home sales have risen real estate portal, 99acres.
watchdog, has clamped down
in six of the past eight months, so com.
on off-balance financing as well
25. REIA NEWS
IS A PUBLICATION BROUGHT TO YOU BY THE
REAL ESTATE INSTITUTE OF AUSTRALIA. FOR
FURTHER INFORMATION ABOUT ADVERTISING,
PLEASE CONTACT REIA MANAGER
COMMUNICATIONS ON 02 6282 4277 OR AT
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