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Monday, December 31, 2018
Sunday, December 30, 2018
This year's top 10 Nest Egg stories give insight to what's front of mind for Australian investors going into 2019 including the domestic property market, international political tensions, and ever-popular tax tips.
Despite concerns that the Chinese market’s record bull run may be coming to an end on the back of poor US/China relations and industry slowdown, investors should remain positive as China’s government moves to provide stimulus to the domestic economy.
China economy shows strong growth in 2009 | |||||||
China has said its economy expanded by 8.7% in 2009, exceeding even the government's own initial expectations.
The pace of change increased as the year went on, with growth in the final quarter of 2009 increasing by 10.7% from the same period a year earlier.
China is now on course to overtake Japan and become the world's second-biggest economy.
Japan announces its latest quarterly gross domestic product (GDP) figures next month.
The Japanese economy is likely to have contracted by about 6% in 2009.
'What the world needs'
Jim O'Neill, chief economist at Goldman Sachs, said that China had come up with "a very smart policy stimulus" and that some aspects of the financial crisis may not have been a bad thing.
"[In] November 2008, they came up with a quick, aggressive fiscal and monetary response which has worked," he told BBC Radio 4's World At One programme.
"They have replaced exports with domestic demand, both consumption and investment... China has become more important as America [has become] less, which is what the world needs."
He said part of the reason behind the global crisis was that the world had become dependent on the US consumer, and the realisation of that had now forced countries to stand up for themselves.
"The most important one is China and their economy is now being driven by their own domestic economy, which will not only be increasingly important for them but important for everyone else including - directly and indirectly - people in Britain," he said.
'Right direction'
China's GDP announcement was made by Ma Jiantang, head of the National Bureau of Statistics.
He said China had faced "severe difficulties" in 2009, but its economy has now recovered and was moving in the right direction.
Annual growth was only slightly down on 2008.
These latest GDP figures have exceeded the target set by the Chinese government, the BBC's Chris Hogg in Shanghai says.
This is a turnaround because China, like other countries across the world, was hit by the economic crisis during late 2008 and early 2009. Factories closed and workers were laid off.
The economy recovered with the help of a massive government stimulus package but now there are signs it is expanding too quickly.
"There's very strong growth but there's real concern about the quality of the growth and what will happen when the stimulus is withdrawn," said Michael Pettis, professor of finance at Peking University.
"It seems pretty clear that any withdrawal of the investment stimulus is going to have a big impact on growth."
Inflation is also picking up, with consumer prices increasing by 1.9% in December from a year earlier.
Chinese authorities are expected to now take measures to prevent the economy from overheating.
Economists expect interest rates to rise, while banks have already been ordered to keep more money in reserve, and reports say some have even been told to stop lending for the rest of January.
'China's reality'
But Mr Ma played down speculation that China's economy had now overtaken Japan's.
"According to the UN standard - that is $1 a day - there are still 150 million poor people in China. That is China's reality," he said.
"So despite the increase in our GDP and economic strength, we still have to recognise that China is still a developing country."
On inflation, he said that price rises were "mild and under control".
Predictions
Meanwhile, the World Bank has said that the global economic recovery will slow later this year as the impact of government stimulus policies wanes.
The Bank has forecast growth of 2.7% this year after a contraction in 2009.
However, its predictions for Japan are slightly less pessimistic than other forecasters. It estimates that Japan's economy shrunk by 5.4% last year.
It added that the poorest countries - those that rely on grants or subsidised lending - may require an additional $35bn to $50bn in funding just to sustain pre-crisis social programmes.
China is expected to become the world's biggest economy in 2030.
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Thursday, December 27, 2018
Goalcast Christmas Newsletter! http://mvnt.us/m886132
Did the Australian economy present any surprises over 2018?
The Australian economy is poised to grow by around 3 per cent over 2019, with a large pipeline of public sector infrastructure projects and the ongoing roll-out of the National Disability Insurance Scheme (NDIS) to drive public sector demand, with positive spill-overs into business investment and employment. With a large pipeline of work yet to be done, dwelling investment is likely to continue at elevated levels but not add to economic growth over 2019. Net exports are expected to add to growth as LNG export capacity continues to expand. Consumption is also expected to grow at a moderate pace in line with further jobs growth and a gentle lift in wages growth.
We look for the underlying inflation rate to gradually lift to a little over 2 per cent by the end of 2019. Upward pressure comes from further reductions in excess capacity, the lagged effects of a softer exchange rate and lifting global prices, and the direct and indirect effects from higher fuel prices.
The November Statement on Monetary Policy forecasts from the Reserve Bank of Australia (RBA) have the economy growing at above trend rates over the next two years and the unemployment rate falling to 4.75 per cent over the second half of 2020. Given uncertainty about the transmission of labour market tightening into wages and inflation, the RBA has ruled out any near term tightening, noting that a period of stability would help create the conditions which would eventually allow them to begin removing policy accommodation.
Monday, December 24, 2018
Sunday, December 23, 2018
Wednesday, December 19, 2018
Tuesday, December 18, 2018
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Monday, December 17, 2018
Wednesday, December 12, 2018
Tuesday, December 4, 2018
Sunday, December 2, 2018
Monday, November 26, 2018
Sunday, November 25, 2018
Saturday, November 24, 2018
Friday, November 23, 2018
Sunday, November 18, 2018
Saturday, November 17, 2018
Sunday, November 11, 2018
Australia’s housing downturn has extended to a 13th month, with further falls expected.
More market experts – including the RBA – are now turning their attention to how a negative wealth effect from falling house prices could drag on consumption growth.
We’ve highlighted five indicators that will be worth monitoring in the months ahead to gauge the extent of a housing-linked consumption crunch.https://www.businessinsider.com.au/house-prices-falling-australia-negative-wealth-effect-2018-11
Saturday, November 10, 2018
Friday, November 9, 2018
Wednesday, November 7, 2018
Tuesday, November 6, 2018
Sunday, November 4, 2018
Saturday, November 3, 2018
Tuesday, October 30, 2018
The China banking system is under stress and they are desperate to maintain the currency peg, leveraged off shore investments will continue to be sold down... Oz real estate developments are all in the firing line.
Exclusive: Guarding stability, China likely to slow yuan's slide to 7 per dollar - sources reut.rs/2qbNqBf via @kevinyao_yao
Monday, October 29, 2018
Sunday, October 28, 2018
Wednesday, October 24, 2018
Tuesday, October 23, 2018
We won't charge dead people anymore
Friday, October 19, 2018
Thursday, October 18, 2018
Hidden storage and flexible living are prioritized in this modern apartment of just 500 square feet.
— Read on www.dwell.com/article/kc-design-studio-apartment-x-taipei-f98af91a
Wednesday, October 17, 2018
Monday, October 15, 2018
Brisbane Housing Market Update | October 2018
The Australian housing
market continued to weaken over the month, with national dwelling values
falling 0.5% in September, marking twelve months of consistently falling values
across CoreLogic’s national hedonic home value index.
Wednesday, October 10, 2018
Tuesday, October 9, 2018
Monday, October 8, 2018
Sunday, October 7, 2018
Lucky Australia has such as broad range of housing options
Friday, October 5, 2018
Tuesday, October 2, 2018
The Sydney gross rental yield is tracking at 3.2%. It is 3.8% for apartments, and just 3% for houses.
Thursday, September 27, 2018
Tuesday, September 25, 2018
Monday, September 24, 2018
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