Thursday, October 31, 2013

Is public transport infrastructure into the city as important as once thought article courtesy of RP Data

RP Data Research Blog - Is public transport infrastructure into the city as important as we once thought?

Link to RP Data Research Blog



Posted: 31 Oct 2013 02:38 PM PDT
Is public transport infrastructure into the city as important as we once thought?For those of us that live and work in the inner city areas of our capital cities, we think that public transport infrastructure is a must across the city.  The reason being that it is essential for those of us in suburbia to be able to travel to and from the city in an efficient and timely manner, notwithstanding the fact that so many of us still drive.  But in this week’s blog I question whether or not public transport is actually that important.
According to data from the end of June 2013 from the Property Council of Australia, the total floor space across the CBD office markets is 17,263,536 sqm.  If we were to assume that the typical office has a workspace ratio of say 20 sqm for every one worker, this would mean that if these offices were fully occupied they would house 863,177 workers.  If we include the nearby fringe areas, which I have defined as: Brisbane Fringe, North Sydney, St Kilda Road, Southbank, West Perth, Crows Nest/St Leonards, Adelaide Fringe and East Melbourne, there is an additional, 4,396,603 sqm of office space.  Again assuming a 1:20 ratio these offices if fully occupied would house 219,830 workers.  Between the CBD and fringe office space, if we assume one worker for every 20sqm of floor area, there is enough space for 1,083,007 office workers nationally.
At the moment, office vacancy rates are quite high across the country, sitting at 10.1% across the CBDs and 10.2% across these fringe office markets.  Based on these figures and our ratio assumptions there are 775,945 workers within our CBD markets and 197,484 workers within the fringe areas.
Of course not everybody that works in the CBD or fringe areas works in offices there will be a mixture of retail, services, industry etc that also offer employment in these areas which would also increase the overall working population in these areas.
If we look at the labour force data from June 2013 we see that at a national level, there were 8,138,418 persons employed full-time and 3,519,841 persons employed part-time for a total of 11,658,258.  Of course the nature of part-time employment is such that jobs are at times shared so given this I will assume that half of the part-time positions are travelled to each day (reflective of job sharing) resulting in my total employment figure of 9,898,338 persons.
Based on this 9,898,338 persons figure and the current occupied CBD and fringe office space, these inner city area offices are providing employment for just 9.8% of the nation’s workforce.  Now of course most of those people that live outside of the respective capital cities are not going to travel to the closest CBD for employment (yes there are some exceptions) so it is beneficial to analyse the proportion of the capital city workforce that travels to the inner city area for employment.
Demographic data to June 2012 showed that 15,015,290 persons lived within a capital city which equated to 66.1% of the nation’s population.  Now we know that unemployment tends to be slightly higher outside of capital cities however, if we assume simplistically that 66.1% of the 9,898,338 persons are employed within a capital city that provides a capital city employment figure of 6,542,801 persons.  Based on this figure, 14.9% of all capital city jobs are situated in a CBD or fringe office markets.  As I mentioned, there are other forms of employment in these area other than just that within an office.  Given this, let’s assume that a further 5% of the total capital city employment is located within either the CBD or the fringe areas taking the figure to 20%, leaving 4 out of every 5 employed persons not being employed in the inner city area and therefore not having to travel centrally each day.
Of course there are those that need to travel centrally that aren’t workers that would rely on public transport, this includes: students, shoppers, tourists and those who require Government services that are located within these areas.  We would estimate that overall, this proportion of population is quite small.  Outside of this, although users of public transport may not necessarily be travelling all the way into the inner city areas of the capital cities, they do utilise it to travel to other working and retail nodes along the transport system.  Despite this, a majority of the population is unlikely to be relying on public transport to reach their destination each day with even fewer using it to tavel to the inner city areas for employment.
The implications of this is quite significant, although the roads and public transport are undoubtedly congested, a large proportion of the population are simply not commuting centrally on a day-to-day basis.  It also means that public transport is only benefitting a small proportion of the overall community.
From a future development perspective this also has some repercussions.  It is clear that in our larger capital cities there is a significant focus on densification of the inner city areas and those along transport spines.  Although this is the case, demand for these higher density inner city properties is likely to be strongest amongst those who actually work centrally.  In fact, it is probably fair to say that for those who do not work centrally that higher density housing in the inner city areas would likely be highly undesirable.
The push for higher density in the inner city means that you can squeeze more residents into a smaller area.  From Government’s perspective it also means that you can rely on existing infrastructure which tends to be most abundant in inner city areas rather than having to provide new infrastructure such as that which is required when development takes place on the outskirts of the city.
Nevertheless, it certainly appears that public transport infrastructure such as rail lines and busways connecting suburbia to the inner city areas only benefits a small overall proportion of the population.  Of course, of the estimated 20% of people that travel to central areas of the capital city, you only have to look at the roads of a morning to see that for many the preferred way to commute continues to be via the private car.
The other aspects of public transport to consider are the cost and the coverage.  The overall cost of public transport is expensive and acts as a deterrent for many to use on a more regular basis.  I live in Brisbane and to travel just one zone costs $4.80 if you don’t have a go card.  The trip to the city from my house is only two zones which is $5.60 by paper ticket and $3.95 if I use a go card .  I live relatively close to the city centre however, if I lived four zones away and purchased a paper ticket the cost is $7.50, if you have a go card the cost reduces to $5.13.
In my opinion, those costs are extremely excessive.  Yes it is probably slightly cheaper than the cost of running and maintaining a car on a week-to-week basis however, the differential is likely to be minimal.
My overall conclusion is that public transport is not as important as many of us believe it to be, particularly for those of us that believe we all need to have public transport to commute to work in the inner city.  This analysis shows that the majority of the working population actually don’t work in the central areas which tend to be the areas best serviced by public transport.
The main reasons that public transport it is not as important are due to: public transport being over-priced, services are generally irregular and unreliable and the services do not effectively cater to the overall needs of the wider community with the main focus of the service to transport people from the suburbs to the central areas of the city.  If the system was expanded, run on a more regular basis and made more affordable, I am sure that it would be more widely used, especially if it was more cost effective and efficient than using a private vehicle.  Sadly, at this stage it is generally a long way from delivering these benefits.

 对于我们这些生活和工作在我们的省会城市的内陆城市,我们认为整个城市公共交通基础设施是必须的。究其原因,对于我们这些在郊区的事实,所以我们很多人仍然开车往返高效和及时的城市,尽管它是必不可少的。但在本周的博客,我怀疑与否其实,重要的公共交通。
据澳大利亚房地产理事会从2013年6月底的数据显示,整个CBD写字楼市场的总建筑面积为17263536平方米。如果我们假设,典型的办公室有一个工作区的比例为每一名工人说, 20平方米,这将意味着,如果这些办事处被完全占领,他们将容纳863177名工人。如果我们包括附近的边缘地区,这是我定义为:西南岸,圣基尔达路,北悉尼,布里斯班穗,珀斯,鸦巢/圣伦纳德斯,阿德莱德艺穗东墨尔本,还有一个额外的4396603平方米的办公室空间。同样假设一个1:20的比例如果完全占领这些办事处将容纳219,830名工人。生物多样性公约“及附带的办公空间之间,如果我们假设一个工人,每20平方米面积,有足够的空间供全国1083007上班族。
此刻,写字楼的空置率是相当高的,在全国范围内,坐在整个中央商务区的10.1%和10.2%,在这些边缘的写字楼市场。基于这些数字和我们的比假设有775945名工人在我们的CBD市场和边缘地区内的197484名工人。
当然不是每个人都在办公室工作,工作在CBD或边缘地区会有混合物,零售,服务等行业,在这些领域,在这些领域也将增加整体劳动人口提供就业。
如果我们看一下从2013年6月劳动力数据,我们看到,在国家一级,有8138418人全职雇用3519841人11658258共聘用兼职。当然兼职工作的性质就是这样,工作共享,所以有时我会假设有一半的兼职岗位每天(反映工作分担)在我的总就业人数为9898338人。
基于这9898338人的身材和目前占领的“生物多样性公约”及附带的办公空间,这些内城地区办事处提供就业机会的国家的劳动力只有9.8% 。当然现在住在各自的省会城市之外的那些人大部分都不会前往最接近CBD就业(有一些例外) ,所以它是有利于前往省会城市劳动力的比例分析内城区就业。人口统计数据显示, 2012年6月15015290人生活在一个省会城市,等同于全国人口的66.1 % 。现在我们知道,失业往往要稍高以外的省会城市,但是,如果我们简单地假设在一个省会城市,提供一个省会城市就业人数为6542801人9898338人,有66.1%的就业。基于这个数字,坐落在CBD或边缘的写字楼市场的14.9 %,所有的省会城市工作。正如我所提到的,还有其他形式的就业,在这些地区以外的只是一个办公室内。鉴于此,我们的假设,一个进一步的5 %的总资本城市就业是位于无论是在CBD或采取的数字为20% ,离开4列每5受雇于人不被聘用内的城市区域和边缘区域内因此不必集中出行的每一天。
当然还有那些需要集中出行,工人将依靠公共交通,这包括:学生,购物者,游客和那些谁需要都位于这些区域内的政府服务。我们估计,总体而言,这种人口的比例是相当小的。此之外,虽然公共交通的使用者可能不一定一路旅行到省会城市的内陆城市,他们利用它前往其他工作和零售沿交通系统的节点。尽管这样,大部分的人口是不太可能依靠公共交通到达目的地的每一天,甚至更少,用它来TAVEL内城地区就业。
这是相当显着的影响,虽然道路和公共交通无疑拥挤,很大比例的人口根本就没有上班一天到一天的基础上集中。这也意味着,公共交通仅受益的一小部分的整体社会。
从未来发展的角度来看,这也有一定的反响。很显然,在我们较大的省会城市,是一个显着的重点致密的内城地区和沿交通刺。虽然是这样的话,这些高密度的内城物业的需求可能是最强的究竟是谁的工作集中在那些。事实上,它可能是公平的说,对于那些谁不集中,密度较高的内城区域的房屋很可能是极不可取的。
在市内意味着更高密度的推到一个较小的区域,你可以挤出更多的居民。从政府的角度来看,这也意味着你可以依靠现有的基础设施,这往往是最丰富的,而不是提供新的发展时,需要发生在城市郊区的基础设施,如内城地区。
不过,它肯定会出现,公共交通基础设施,如铁路线和公交车道,连接郊区的内城区域只惠及一小整体的人口比例。当然,估计有20%的人前往中部地区省会城市中,你只能看一个上午的道路看到,对于许多通勤的首选方法仍然是通过私家车。
其他公共交通方面,要考虑的是成本和覆盖范围。公共交通的整体成本是昂贵的,作为一种威慑许多使用上更定期。我住在布里斯班和旅游只是一个区域成本$ 4.80 ,如果你没有去卡。从我家的城市之旅只有两个区域,这是纸票5.60元和3.95美元如果我使用一个去卡。我住的比较靠近市中心,如果我住在四区以外,并购买纸质机票的成本是$ 7.50 ,如果你有一展身手的成本降低至5.13美元的卡。
在我看来,这些费用是极其过度。是的,它是运行和维护然而,一周周的基础上一辆汽车的成本比可能稍微便宜一些,差是可能是最小的。
我的总体结论是,公共交通不是很重要,因为我们很多人认为它是,特别是对于我们这些相信大家都需要有在市内公共交通工具上下班。这一分析表明,广大的劳动人口实际上不工作,在中部地区,这往往是最好的公共交通服务领域。
公共交通并不重要,重要的主要原因是由于公共交通价格过高,服务一般都是不规则的,不可靠的,服务不服务的重点,有效地满足广大市民的整体需求运输人从郊区到城市的中部地区。如果系统被扩大,更经常的基础上运行,而变得更加实惠,我相信,这将是更广泛的应用,尤其是如果它是更具成本效益和效率比使用私家车。可悲的是,在这个阶段它通常是一个很长的路要走,从提供这些好处。http://www.ljgrealestate.com.au

Australian Property Investor :: Where do Australia’s top earners live?

Australian Property Investor :: Where do Australia’s top earners live?

Australian Property Investor :: House prices continue to rise

Australian Property Investor :: House prices continue to rise via http://www.ljgrealestate.com.au

Australian Property Investor :: House prices continue to rise

Australian Property Investor :: House prices continue to rise

YOU are a small business

YOU are a small business

Bobby’s Blog: How to Get Your Tenants to Pay Rent on Time |Buildium

Bobby’s Blog: How to Get Your Tenants to Pay Rent on Time |Buildium via http://www.ljgrealestate.com.au Good Article.

How to Start a Recycling Program at the Properties You Manage |Buildium

How to Start a Recycling Program at the Properties You Manage |Buildium via http://www.ljgrealestate.com.au

How to Keep Good Tenants |Buildium

How to Keep Good Tenants |Buildium via http://www.ljgrealestate.com.au Good Article

How to Start a Property Management CompanyBuildium

How to Start a Property Management CompanyBuildium via http://www.ljgrealestate.com.au  Good Article.

Spooky stuff for Halloween - The Experts | Switzer

Spooky stuff for Halloween - The Experts | Switzer

New home sales hit 27-month high - The Experts | Switzer

New home sales hit 27-month high - The Experts | Switzer via http://www.ljgrealestate.com.au

Gadens ordered to pay John Symond $4.9 million

Gadens ordered to pay John Symond $4.9 million

Comment Re Keen vrs Symond article posted earlier this week!

This week’s winning comment comes from ‘Observer’ and relates to Wednesday’s article on the property market debate between John Symond and Steve Keen (aka: ‘Mr Bubble).
In the debate, Symond argued that house price growth across Australia is continuing at sustainable levels, while Keen claimed a crash is imminent. Reader comments on the story were polarised, though most appeared to support Symond. Observer made some particularly articulate points – here’s what s/he had to say:
 Sooner or later Keen will be correct. A broken clock is correct twice a day.
However there can be no doubt that overseas investment is driving up prices in Sydney (in particular) and that investors are crowding out first home, buyers particularly since the NSW First Home Buyers Grant was limited to new dwellings only. This is coupled with ridiculously tight development controls and NIMBY attitudes to new development in established areas which is limiting the supply of new homes in the areas young people want to live.
Even at the periphery of Sydney, land prices are ridiculously high, driven by high infrastructure contributions to councils. Even then the supply is constrained by development controls and when land does come to the market there are many more buyers than blocks available, again driving up prices.
Negative gearing laws should be amended to restrict the setting off of losses against future profits on sale and not against other non-property income.
I do agree with Keen on one thing - the ability ofSMSFs to gear property investments is a risky one and is already leading to some shonky selling practices a la Westpoint etc
.”
Thanks to everyone who contributed comments over the last seven days and keep an eye out next Friday to see if you're the author of Australian Broker's next top 'Comment of the Week'!
Best Regards
Linda & Carlos Debello
LJ Gilland Real Estate
Phone 07 3263 6085 or 0413 560 808

Australian Housing Market Update - October 2013

http://www.youtube.com/v/OJ7gzzIOt8I?autohide=1&version=3&attribution_tag=0qfkWshgY8ymnuRVdYfa9A&autoplay=1&showinfo=1&autohide=1&feature=share

Australian Housing Market Update - October 2013

http://www.youtube.com/v/OJ7gzzIOt8I?autohide=1&version=3&attribution_tag=T69T0YX4_gf2gkosmo4irA&feature=share&autoplay=1&autohide=1&showinfo=1

Aust Housing Market Update Oct 2013 with compliments

 http://youtu.be/OJ7gzzIOt8I  http://www.youtube.com/v/OJ7gzzIOt8I?autohide=1&version=3&attribution_tag=T69T0YX4_gf2gkosmo4irA&feature=share&autoplay=1&autohide=1&showinfo=1

via http://www.ljgrealestate.com.au Courtesy of Linda & Carlos Debello Call us 07 3263 6085 or 0413 560 808 for our Professional and Personalised Real Estate Services!

11 Essential Steps Of Blog Marketing | Amrit Chhetri

11 Essential Steps Of Blog Marketing | Amrit Chhetri

A day in the life of a locksmith - unlocking security secrets

A day in the life of a locksmith - unlocking security secrets via http://www.ljgrealestate.com.au

Robert Kiyosaki - A Message To Young People

http://www.youtube.com/v/rAHjxWY5MTY?autohide=1&version=3&feature=share&attribution_tag=7j6a7GCN3Tf1OPdWKpmiOw&showinfo=1&autohide=1&autoplay=1

An Eastside Belles Boogie Woogie Sample

http://www.youtube.com/v/rE_VhiUtNnE?autohide=1&version=3&attribution_tag=8WyoLNgnnjWKgv-zQf4zZQ&showinfo=1&autoplay=1&autohide=1&feature=share

Wednesday, October 30, 2013

PROPERTY is more affordable and it takes less time to save a deposit, but first home buyers are still absent from the Queensland market.

http://www.couriermail.com.au/realestate/news/first-home-never-cheaper-but-its-still-out-of-reach/story-fnihpu6h-1226750050674#ooid=U5ZnE1ZjpK6bhbCzKRaRJK9ExiZn7zWF

Call Carlos and Linda Jane Debello on 07 3263 6085 for our personalised service in removing the hassle from both sales and rentals Brisbane Wide.  We put Clients first!  Aiming always for maximum returns with minimum vacancies.... Spanish & Chinese speaking....

拨打卡洛斯和琳达珍Debello对我们的个性化服务,在取出的麻烦,销售和租赁布里斯班宽0732636085。我们把客户第一!针对总是以最小的空缺最大的回报....西班牙和中国讲....

Bōdǎ kǎ luòsī hé lín dá zhēn Debello duì wǒmen de gèxìng huà fúwù, zài qǔchū de máfan, xiāoshòu hé zūlìn bù lǐsī bān kuān 07 3263 6085. Wǒmen bǎ kèhù dì yī! Zhēnduì zǒng shì yǐ zuìxiǎo de kòngquē zuìdà de huíbào.... Xībānyá hé zhōngguó jiǎng....

Llame a Carlos y Linda Jane Debello el 07 3263 6085 para nuestro servicio especializado en la eliminación de la molestia de las ventas y alquiler de Brisbane anchas. Ponemos primero Clientes! Con el objetivo siempre de la máxima rentabilidad que ofrecen trabajo de mínimos .... Español y habla china ....

http://www.ljgrealestate.com.au

First home never cheaper ... but it's still out of reach | Real Estate | Property and Real Estate | | The Courier-Mail

First home never cheaper ... but it's still out of reach | Real Estate | Property and Real Estate | | The Courier-Mail

Aussie John takes aim at Steve Keen in property punch-up

Aussie John takes aim at Steve Keen in property punch-up

Top 10 Australian Investment Suburbs Article of Interest

Top 10 Australian investment suburbs revealed http://www.ljgrealestate.com.au

Bubble trouble: measuring housing market hype - The Experts | Switzer

Bubble trouble: measuring housing market hype - The Experts | Switzer  http://www.ljgrealestate.com.au

Brisbane market predictions - The Experts | Switzer

Brisbane market predictions - The Experts | Switzer via http://www.ljgrealestate.com.au

Monday, October 28, 2013

Adelaide voted one of the world's best cities for 2014 | News.com.au

Adelaide voted one of the world's best cities for 2014 | News.com.au via http://www.ljgrealestate.com.au

Gold up on weak economic data, deferred tapering of Fed stimulus | GulfNews.com

Gold up on weak economic data, deferred tapering of Fed stimulus | GulfNews.com

Oasis Centre makes a play for Riyadh property | GulfNews.com

Oasis Centre makes a play for Riyadh property | GulfNews.com

Comparative Market Analysis: How Much is Your Home Worth? (Infographic)

Comparative Market Analysis: How Much is Your Home Worth? (Infographic) via http://www.ljgrealestate.com.au

33 Wonderful Boys Room Design Ideas | DigsDigs

33 Wonderful Boys Room Design Ideas | DigsDigs via http://www.ljgrealestate.com.au

Housing offers promise

Housing offers promise via http://www.ljgrealestate.com.au

Friday, October 25, 2013

MACKLEMORE & RYAN LEWIS - 2013 FALL TOUR DOCU SERIES - EP. 02 - PRES. BY...

Commercial vs. residential: what stacks up? - The Experts | Switzer

Commercial vs. residential: what stacks up? - The Experts | Switzer

Inflation lifts rate cuts off the agenda - Broker News | Switzer

Inflation lifts rate cuts off the agenda - Broker News | Switzer

Should negative gearing be changed? A Property Observer exclusive

Should negative gearing be changed? A Property Observer exclusive via http://www.ljgrealestate.com.au

A Tribute to Entrepreneurs

3 Camphorlaurel Court Mcdowall QLD 4053 - Property ID 18098413 - homehound.com.au

3 Camphorlaurel Court Mcdowall QLD 4053 - Property ID 18098413 - homehound.com.au

Article "Leave the Property Investor's alone" of Interest for your perusal and informaiton best regards

The esteemed Grattan Institute yesterday released its much-awaited reporting on housing policy and the need for major reform. The central recommendations focused on a re-think of investor-focused incentives like negative gearing.
BY SHANNON MOLLOY
Whenever property markets begin to recover after an extended lull or downturn, a number of pundits reemerge to express their concern about a so-called and looming affordability crisis.
House prices are getting too high, they claim. Young people have no chance of paying a mortgage, it’s often said. There’s a bubble forming that’ll pop and swallow the world, doomsayers cry.
You look at cities like Sydney or Melbourne that experience a several per cent increase in their median house prices in the space of a year and those alarmists’ dire warnings seem pretty compelling.
I mean, you only need to flick open a newspaper on a Monday and read about weekend auction clearance rates to probably agree that things are a bit crazy at the moment.
But let’s look at the facts, contained in the Grattan Institute’sRenovating housing policy report that was released yesterday.
Firstly, there’s the issue of housing affordability and the argument by many that rapidly rising house prices are locking out the younger generation, who’ll never be able to afford buy their own home.
Of course, that assertion is rubbish and the report essentially confirms as much, with the finding that the proportion of household income required to service a mortgage today has barely changed over time. It says: “…mortgage repayments as a proportion of disposable income are relatively low compared to the last decade and are comparable to previous periods in the (past) 30 years.”

Screen Shot 2013-10-22 at 1.31.40 PM
Instead, I believe the major impediment these days is access to finance. Banks tightened their lending belts in the wake of the GFC and began demanding larger deposits as a safety measure against negative equity. It was a pretty smart and responsible move, sure, but the modern day value of housing means a 20 per cent deposit is a fair whack of cash, especially in the trendy inner urban suburbs where young people are keen to put down roots the first time around.
In the 1980s, a homebuyer needed to save around the equivalent of one year’s average income to use as a deposit to secure a loan. These days it’s closer to four times’ the average income. Yes, that’s due in part to rising house prices, but also due to tightening lending criteria. In addition, I think it’s because 20-somethings 30 years ago were largely more realistic about their first home and bought within their means in up and coming areas that didn’t carry a price premium.
Secondly, it’s often said that investors get the lion’s share of incentives and tax exemptions – think negative gearing and capital gains tax discounts. Affordability alarmists argue that in addition to being a massive waste of money, it’s unfair. Landlords are greedy enough as it is, it’s usually implied.
The report again concludes that support for residential property investors costs about $6.8 billion per year, which sounds mammoth. That is until you compare it to the government expenditure directed at homeowners, run of the mill owner-occupiers, which totals a staggering $36 billion per year.
Screen Shot 2013-10-22 at 11.21.09 AM
Contrary to claims of commentators who seem to have a mix of resentment and bitterness towards property investors, the government isn’t splashing cash primarily on investors, but on homeowners.
Thirdly, those who push the affordability argument often point to slowly falling rates of homeownership, particularly among younger people, as proof that the next generation simply can’t get into housing. As this report alludes to, that could possibly be more closely tied to social changes – similar to young couples delaying getting married and starting a family until later in life.
Whether you’re comfortable with the idea of wealth creation via property or think landlords are evil, blood-sucking capitalist monsters, we can all agree on one thing – it’s time for a rethink of housing policy. In fact, to coincide with the recent Federal Election, I proposed some ideas of my own that might be more effective than attacking property investors.
As the Grattan Institute’s report points out, there’s really no one at any level of government focusing on housing. Sure, there are housing ministers at various levels, but their primary concern is with the provision of social housing… but that’s it. In the grand scheme of things, that’s a fairly small area to be devoting all of the attention to.
No one is looking at strategies to make it less of a hassle to get into your first home. Governments are ignoring the need to ease the rental pressure on tenants who face the risk of being stuck paying someone else’s mortgage. There’s no attention paid to supporting those Australians for whom the cost of housing is exponential and places stress on their already limited means.
The days of governments putting their respective heads in the sand and throwing good money after bad need to come to an end. And while the Grattan Institute’s Renovating housing policy report contains some very solid points, suggestions that negative gearing and capital gains tax discounts be scaled back are counterproductive in my view.
The suggestions are fairly similar to what pundits have been saying for years – scrap the incentives aimed at investors. But this report concludes that an immediate and reactionary withdrawal of those sorts of incentives would be the wrong approach. Any changes should be a gradual transition instead, it says.
But still, I think sustainably growing property markets benefit everyone – individuals trying to build wealth, families and the economy. It’s dangerous to treat investors as the big bad wolf. But that’s a whole other argument for another time.
Shannon Molloy is the deputy editor of Australian Property Investor magazine, www.apimagazine.com.au

住房贷款新闻架C/ - http://www.ljgrealestate.com.au的销售和租金布里斯本宽拆卸的麻烦瞄准最大的回报以最小的空缺。

澳大利亚经济的未来可能很大程度上受到矿业投资下降,作为现有项目告一段落。

澳洲储备银行( RBA ) ,菲利普罗威,副省长提出了他的意见,向终审法院澳洲投资会议,他强调了对经济的影响程度。

矿业投资相对于国内生产总值(GDP)预计将在未来几年内至少下降三个百分点,这应该是有关管理的。

然而,劳伊确定,将需要重新平衡经济,这将涉及在出口部门的强劲增长,由于液化天然气项目。

非矿业投资的回升将是澳大利亚经济的整体成功至关重要 - 澳洲联储预计这将需要的地方,用在未来几年花费达到高个位数利率。

不过,该组织也指出,有各种各样的不确定性,做到心中有数,确定一个合适的状态对经济的资本产出率等。

不仅如此, Lowe先生强调,折旧率和行业结构也需要加以考虑,随着经济进入下一个phase.http :/ / www.ljgrealestate.com.au的 http://www.ljgrealestate.com.au



RBA predicts substantial decline in mining investment.

RBA predicts substantial decline in mining investment

Friday, 25 Oct 2013

RBA predicts substantial decline in mining investment
The future of the Australian economy is likely to be largely shaped by a fall in mining investment, as existing projects come to an end.

Philip Lowe, deputy governor of the Reserve Bank of Australia (RBA), made his comments to the CFA Australia Investment Conference, where he highlighted the extent of the economic impact.

Mining investment relative to gross domestic product is expected to decline by at least three percentage points over the coming years, which should be just about manageable.

However, Mr Lowe identified that the economy will need to be rebalanced, which will involve stronger growth in the export sector as a result of liquefied natural gas projects.

A pickup in non-mining investment will be essential to the overall success of the Australian economy - the RBA anticipates this will take place, with spending reaching high single-digit rates over the next couple of years.

However, the organisation did point out that there are a wide range of uncertainties to be aware of, such as ascertaining an appropriate state capital output ratio for the economy.

Not only this, Mr Lowe emphasised that the rate of depreciation and industry structure will also need to be taken into account as the economy enters the next phase.http://www.ljgrealestate.com.au

Friday, October 18, 2013

NSW bushfires: live updates

NSW bushfires: live updates

NSW bushfires continue to ravage state as residents forced to evacuate

NSW bushfires continue to ravage state as residents forced to evacuate

遲來的春天 (@97金曲回歸演唱會)

Call to super-size home deposits

Call to super-size home deposits
http://www.ljgrealestate.com.au

National Housing Market Report Oct 2013 Courtesy of Linda & Carlos Debello, LJ Gilland Real Estate Pty Ltd

Thursday, October 17, 2013

Unit Owners Article via Aust Property Mag Courtesy of Linda & Carlos Debello

Imagine you buy an apartment in a recently built complex only to later discover there are serious flaws or defects. Now picture that there’s reasonable evidence of negligence on the builder’s part. Think you can sue them? Not necessarily.
BY SHANNON MOLLOY
It sounds crazy, right? If the blokes building your home stuff up and it leads to serious issues that cost you money and require repair, you should be able to recoup the losses caused by their negligence.
Well, until recently it was pretty unclear whether a builder in New South Wales owed customers any duty of care in the course of constructing a property.
Last month, the Court of Appeal in NSW handed down a judgment that could have big implications for unit owners facing building defect issues. Basically, an owners’ corporation of a serviced apartment complex had tried to sue builders in 2012 for negligence relating to defects in that particular building.
It went to the Supreme Court but it found that the builders didn’t have a duty of care, which might be hard to comprehend.
Not pleased with the outcome, the owners’ corporation went to the Court of Appeal and the decision handed down a few weeks ago basically overturned the original judgement. Instead the three appeals judges found the builders did have a duty to exercise reasonable care in the construction of the building.
Chris Kerrin is a partner at Teys Lawyers in Sydney and is the go-to when it comes to building defect issues. We chat from time to time about the many and varied issues facing unit owners, the big one being what to do when something goes awry with the quality of building works.
In his view, this decision will have implications elsewhere, including in states and territories where it might not be binding but will certainly have influence. “It probably assists residential strata schemes in all states and territories to sue builders for negligent building work”.
Perhaps most importantly for unit owners in NSW, this decision runs against what he calls a “hollowing out” of consumer rights that looks set to occur in coming months. The laws are about to change – and in a big way.
Around this time last year, I wrote a blog about flagged changes to the Home Building Act. Industry experts, including Kerrin, believed the wording the government used surrounding yet another round of reforms hinted at a watering down of consumer protection mechanisms.
The Act has already been seriously diluted over time. Since 2000, there have been more than 48 separate amendments. As Kerrin says, “in a number of significant ways, consumer protection has been eroded considerably by virtue of these amendments.”
As he sees it, avenues of dispute when it comes to building defects have been repeatedly diminished, primarily with the introduction of a two-year deadline on complaints relating to non-structural defects. If problems are discovered after this time, you’re essentially on your own.
That sounds pretty grim, but it could get a whole lot worse. The government’s just-released position paper on the next raft ofHome Building Act changes repeatedly refers to providing “an appropriate level of homeowner protection without impeding industry growth and investment through needless red tape and regulation”.
The position paper gives some insight into what can be expected when the legislation comes before Parliament later this year. Kerrin makes the following observations:
  • On home building contracts, tweaks to the requirements are minor in nature but look to be more supportive of builders than consumers.
  • On statutory warranties, the position paper looks to narrow the definition of structural defects to push more issues into the non-structural category, which carries a shorter timeframe of claim.
  • On dispute resolution, the proposed establishment of an expert determination process is welcome provided the builder is required to engage in the process. A defection notification period of six months will disadvantage consumers though.
  • On home warranty insurance, there are only minor flagged changes that are a mix of pro and anti-consumer, but this area needs major reform.
  • On licensing provisions, more serious reform is required to ensure builders take serious account of licensing consequences. Complaints and fines aren’t serious enough incentive to ensure works are properly completed.
And in case you’re wondering why this is such a big issue, here are some statistics to put it into perspective:
  • Since 2000, 85 per cent of owners in strata buildings have reported one or more defects in their building at some stage.
  • Sydney is the most populated city in the country. Across the state, there are almost 600,000 residential strata lots and more than 67,000 registered strata schemes.
  • In 2011-12, there were 249 defendants facing 458 offences of the Home Building Act. Penalty notices issued totalled $484,000, or barely $1000 per offence.
  • Based on the available data, Kerrin believes some 38,000 people in NSW live in a building that’s less than three years old but affected by defects in some way.
“While there are some positive elements for consumers (in the position paper) they are largely confined to more minor issues whereas areas screaming out for proper reform are neglected,” Kerrin believes.
There are many unit owners in NSW who are battling building issues and will no doubt be interested in a potential erosion of their rights to dispute defects and seek appropriate recourse against the people responsible for them. A Bill containing many of the suggested reforms should be before Parliament any day now, so watch that space.
Shannon is the deputy editor of Australian Property Magazine

編織 (@97金曲回歸演唱)

Tuesday, October 15, 2013

The Sustainable Home Show EP#4 (Outdoor CFL Lights)

An Artice by Mark Armstrong re Housing Affordability.

First home buyers are fighting with a 100 pound gorilla with one arm tied behind their backs as they compete with investors who have the luxury of negative gearing and superannuation funds.
But laws around negative gearing and super are unlikely to change so it’s time to revisit the issue.
I believe the answer lies in rethinking superannuation laws and first home buyer grants.
Historically the family home has been the corner stone of ones wealth but this is in danger of being lost. Superannuation was implemented to help people self fund their own retirement and compliment the wealth in their family homes. I believe that allowing first home buyers to access their super and assist them in laying that foundation keeps within the spirit of superannuation.
A worker who earns the average Australian income of $50,000 a year will have around $36,000 in super by the time they are 30 not including any return on their investments. As a couple that is $72,000! They also have the benefit of diverting more of their income into a tax-sheltered environment. It would not be unreasonable for a first home buying couple to have in excess of $100,000 in super by the time they want to purchase their first home.
A large deposit like this would mean first home buyers have more equity in their home and as a result in a more stable financial position. It would also save a significant amount in interest. For example if a first home buyer had a $100,000 deposit they would only need to borrow around 80% of the property value rather than 90% or more. On a $500,000 home that would save them $2,500 to $3,000 per annum in interest.
They would also avoid paying a hefty mortgage insurance bill of around $5,000 to $10,000 in most cases.
Buying a property is only the first step to home ownership. Keeping up with the mortgage payments is where the real pain starts to bite. If governments really want to help with home ownership they should look at providing ongoing assistance and review first home buyer grants.
First home buyer grants have evolved over the years but on average they provide first home buyers with around $10,000 cash or stamp duty saving benefits. Rather than paying first home buyers a lump sum payment that is usually paid to the banks for mortgage insurance, I believe annual payments will be more effective and a better use of taxpayer money. An annual payment of $2,000 a year for the first five years would help first home buyers establish themselves in the market.
While the devil is in the detail the points outlined above provide a win-win outcome. The government wins as it helps solve first home buyer affordability at no extra cost. The economy wins, as more money will flow into the important building industry. First home buyers win as they will enter the market without paying mortgage insurance and save around $5,000 per annum in holding costs for the first five years.
There is a potential downside in that it would place further pressure on property prices. However this is already happening even without first home buyers and these ideas will go a long way to levelling the playing field between first home buyers and investors.
They would help young Australians into the market and start the process of building wealth in one of our most powerful tax-free investments – our home.

Mark provides independent analysis and tailored advice to investors and home buyers.       VIA

http://www.ljgrealestate.com.au    

What's behind the Chinese buyer phenomenon? Pete Wargent

What's behind the Chinese buyer phenomenon? Pete Wargent VIA http://www.ljgrealestate.com.au