Tuesday, December 6, 2011
RBA Cuts Interest Rates
RBA just announced the widely anticipated 0.25% interest rate cut. Let's see how quickly the banks pass it on.
Thursday, December 1, 2011
Free Property Management
Do you have properties managed by other agencies? Want to consolidate your portfolio under one agency? Tell our property department what you want to do, and we will sort it out for you.
To reward you for your increased custom we offer three months free management for any such new properties that you give to us in this manner during 2011.
As well as properties in the Beecroft and Cheltenham areas, we manage properties in Artarmon, Carlingford, Cherrybrook, Dundas, Dural, Eastwood, Epping, Gladesville, Glenhaven, Gorokan, Gosford, Kellyville, Marsfield, Neutral Bay, North Rocks, Oatlands, Pennant Hills, Terrigal, Ultimo, and West Pennant Hills, so are happy to take over properties anywhere within this area.
To reward you for your increased custom we offer three months free management for any such new properties that you give to us in this manner during 2011.
As well as properties in the Beecroft and Cheltenham areas, we manage properties in Artarmon, Carlingford, Cherrybrook, Dundas, Dural, Eastwood, Epping, Gladesville, Glenhaven, Gorokan, Gosford, Kellyville, Marsfield, Neutral Bay, North Rocks, Oatlands, Pennant Hills, Terrigal, Ultimo, and West Pennant Hills, so are happy to take over properties anywhere within this area.
Shower Heads Scam Stopped
According to the Daily Telegraph:
SHOWER HEADS have been banned from the NSW Energy Savings Scheme by Minister for Energy Chris Hartcher.
The ban follows last week's revelations in The Sunday Telegraph that dodgy salesmen have been making millions selling energy-efficient showerheads.
Showerhead sales boomed following the end of the pink batts scheme last February, with green businesses shifting to the production of energy-saving certificates generated by the sale of showerheads. Under the NSW Energy Savings Scheme, the certificates are then sold to the state's energy companies. More than half the certificates created by the scheme are now generated from the sale of water and energy-saving showerheads.
"In true Labor style, the showerhead component lacks the appropriate monitoring mechanisms leaving it wide-open to manipulation," NSW Minister for Energy Mr Hartcher said. "We are now taking the responsible steps to close the program."
The Ray White Beecroft Property Management department awaits information on how this affects the new Water Efficiency rules coming into force on 1 Jan!
SHOWER HEADS have been banned from the NSW Energy Savings Scheme by Minister for Energy Chris Hartcher.
The ban follows last week's revelations in The Sunday Telegraph that dodgy salesmen have been making millions selling energy-efficient showerheads.
Showerhead sales boomed following the end of the pink batts scheme last February, with green businesses shifting to the production of energy-saving certificates generated by the sale of showerheads. Under the NSW Energy Savings Scheme, the certificates are then sold to the state's energy companies. More than half the certificates created by the scheme are now generated from the sale of water and energy-saving showerheads.
"In true Labor style, the showerhead component lacks the appropriate monitoring mechanisms leaving it wide-open to manipulation," NSW Minister for Energy Mr Hartcher said. "We are now taking the responsible steps to close the program."
The Ray White Beecroft Property Management department awaits information on how this affects the new Water Efficiency rules coming into force on 1 Jan!
Christmas Period Property Management
Ray White Beecroft will be closed from Friday 23 December 2011 to Tuesday 3 Jan 2012.
Emergency contact numbers over this period are:
Plumber - Peter - 0447 440 232
Electrician - John - 0418 649 115
Hot Water - Parramatta Hot Water - 9630 6683
Storms and Floods - SES - 132 500
If you need to talk to someone from the office - Douglas Macarthur - 0408 817 239.
We hope you all have a great Christmas and a happy new year.
Emergency contact numbers over this period are:
Plumber - Peter - 0447 440 232
Electrician - John - 0418 649 115
Hot Water - Parramatta Hot Water - 9630 6683
Storms and Floods - SES - 132 500
If you need to talk to someone from the office - Douglas Macarthur - 0408 817 239.
We hope you all have a great Christmas and a happy new year.
House Price Trends - Sydney doing best.
Capital city home prices nationwide sank 0.5 per cent, seasonally adjusted in October, from a downwardly revised 0.4 per cent fall in September, according to RP Data-Rismark. September's revised drop was twice the 0.2 per cent slide initially reported.
The median dwelling price in capital cities now stands at $448,500.
According to the Sydney Morning Herald, Australia's house prices are falling at an accelerating rate according to figures out today, with Melbourne and Brisbane reporting the steepest drops over the past year and Sydney among the most resilient.
In the ten months to October, seasonally adjusted home prices in Melbourne are down 5.8 per cent, second only to Brisbane's 7.5 per cent fall in that period, according to RP Data.
Sydney's dwelling values are down 1.4 per cent in 2011, while Canberra's are up 0.9 per cent to be the country's best performers. For the nation, seasonally adjusted home prices have dropped 4 per cent so far in 2011.
The median dwelling price in capital cities now stands at $448,500.
According to the Sydney Morning Herald, Australia's house prices are falling at an accelerating rate according to figures out today, with Melbourne and Brisbane reporting the steepest drops over the past year and Sydney among the most resilient.
In the ten months to October, seasonally adjusted home prices in Melbourne are down 5.8 per cent, second only to Brisbane's 7.5 per cent fall in that period, according to RP Data.
Sydney's dwelling values are down 1.4 per cent in 2011, while Canberra's are up 0.9 per cent to be the country's best performers. For the nation, seasonally adjusted home prices have dropped 4 per cent so far in 2011.
Wednesday, November 30, 2011
JPMorgan tips RBA to cut rates
According to the Australian, another investment bank has tipped the Reserve Bank will cut interest rates next month. JPMorgan today forecast the central bank will lower rates due to the "material" deterioration in financial markets since the last board meeting.
JPMorgan, which had expected the RBA to hold rates steady next month, today said the debt turmoil in Europe, tight fiscal policy from Australia's government and a strong Australian dollar have changed its mind. The bank's economists expect the RBA to cut rates by 25 basis points to 4.25 per cent next month, inline with forecasts by Goldman Sachs and UBS.The US investment bank also said it expects two more 25 basis point rate cuts in the first quarter of calendar 2012.
JPMorgan, which had expected the RBA to hold rates steady next month, today said the debt turmoil in Europe, tight fiscal policy from Australia's government and a strong Australian dollar have changed its mind. The bank's economists expect the RBA to cut rates by 25 basis points to 4.25 per cent next month, inline with forecasts by Goldman Sachs and UBS.The US investment bank also said it expects two more 25 basis point rate cuts in the first quarter of calendar 2012.
Three Auctions in One Day
On 10 December, Ray White Beecroft is auctioning 16 Hawkridge Place Dural at 11am, then 56 Boronia Avenue Cheltenham at 1pm, and 68 Cheltenham Rd Cheltenham at 2pm.
Tuesday, November 22, 2011
Further Interest Rate Cuts in the Wings?
On the back of fresh news that Italy has now become the weakest link in the Eurozone debt crisis, stockmarkets around the world were pummelled again last week as about $30 billion was wiped off the value of Australian companies.
Although bad news for many equity investors, it’s good news for the property market with an increased probability that rates will again be cut. This could be as early as next month when the Reserve Bank (RBA) is next due to meet.
The latest Westpac-Melbourne Institute consumer confidence survey conducted after the RBA’s rate cut last week recorded a bounce of 6%, the first time the index has been positive since June. ICAP economist Adam Carr told the Sydney Morning Herald that while home lending is not booming, the fact that it is recovering at a rapid pace despite global turmoil is testament to how resilient the market is.
Although bad news for many equity investors, it’s good news for the property market with an increased probability that rates will again be cut. This could be as early as next month when the Reserve Bank (RBA) is next due to meet.
The latest Westpac-Melbourne Institute consumer confidence survey conducted after the RBA’s rate cut last week recorded a bounce of 6%, the first time the index has been positive since June. ICAP economist Adam Carr told the Sydney Morning Herald that while home lending is not booming, the fact that it is recovering at a rapid pace despite global turmoil is testament to how resilient the market is.
Thursday, November 17, 2011
Record Empty Rooms in Australian Homes
A survey by the Bureau of Statistics finds there are more empty bedrooms in Australian houses than ever before. Average number of bedrooms per house has gone up from 2.8 to 3.2 over the last fifteen years, while average people per house has gone down from 2.7 to 2.5.
The number of people living in private houses has risen by 23 percent, while the number of houses has risen 28 percent.
The Hornsby Shire Housing Strategy will require the units to be built over the Beecroft Shopping Centre to be a mix of 1, 2 and 3 bedroom units, with not less than 10% of each type.
The number of people living in private houses has risen by 23 percent, while the number of houses has risen 28 percent.
The Hornsby Shire Housing Strategy will require the units to be built over the Beecroft Shopping Centre to be a mix of 1, 2 and 3 bedroom units, with not less than 10% of each type.
Wednesday, November 16, 2011
Solar Panels on Rental Properties
Ray White Beecroft has some information about recovery of electricity costs when a landlord installs a solar panel system, typically costing $30K, on a property to take advantage of NSW government rebates, and then decides to rent it out. Contact Peter Hewitt the Business Development Manager with any queries. Email peter.hewitt@raywhite.com.
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