This Saturday we celebrate the Anzacs... A Tribute to ANZAC Day With their hair a little whiter, their step not quite so sure
Still they march on proudly as they did the year before.
Theirs were the hands that saved us, their courage showed the way
Their lives they laid down for us, that we may live today.
From Gallipoli's rugged hillsides, to the sands of Alamein
On rolling seas and in the skies, those memories will remain.
Of airmen and the sailors, of Lone Pine and Suvla Bay
The boys of the Dardenelles are remembered on this day.
They fought their way through jungles, their blood soaked desert sands
They still remember comrades who rest in foreign lands.
They remember the siege of old Tobruk, the mud of the Kokoda Trail
Some paying the supreme sacrifice with courage that did not fail.
To the icy land of Korea, the steamy jungles of Vietnam
And the heroic battle of Kapyong and that epic victory at Long Tan.
Fathers, sons and brothers, together they fought and died
That we may live in peace together, while at home their mothers cried.
When that final bugle calls them to cross that great divide
Those comrades will be waiting when they reach the other side.
Written by Ken Bunker
1. Why do Aussies invest in property?  Australian investors see property as a safe form of investment in the long term, according to a new study.
The study, released this week by the Australian Housing and Urban Research Institute (AHURI), indicates that the choice to invest in property, rather than some other area of investment is not always definitive; in practice, most of the property investors interviewed also invest in other areas, mainly shares.
Australian investors see property as a safe form of investment in the long term, according to a new study.
The study, released this week by the Australian Housing and Urban Research Institute (AHURI), indicates that the choice to invest in property, rather than some other area of investment is not always definitive; in practice, most of the property investors interviewed also invest in other areas, mainly shares. It is not an either/or decision for many people. However, shares are generally seen as being of a different (ie, lower) order and scale to
property, and are treated accordingly. "It also transpires that many investors have previously lost money in shares, and are not keen to repeat the experience", report authors wrote. Regardless of whether they have owned shares or not, there are several reasons behind investors' choice to invest in property over other forms of investment. The most crucial perception is that it represents a good (long-term) investment, with a sense of `low risk' and `guaranteed' return. Most investors have identified `long-term investment' or `capital gains' as the most important reason for having invested in property. A related significant factor is that investors report feeling `comfortable' with property: it is safe, stable, and familiar (particularly when compared with shares). Indeed, sentimentality and informality appear to be important, for property is widely regarded as something relatively easy to invest in (not mysterious or complex like some other investments), with the general impression that `lots of people do it'. AHURI's Final Report No. 130, Understanding what motivates households to become and remain investors in the private rental market, is the concluding output of a research project examining the motivations, expectations and experiences of rental property investors, and analysing the implications of investment motivations and behaviours for the future of lower rent housing. The report is available for download from the AHURI website. 2. Construction still falling: Australian PCI® A lack of new projects meant that the national construction industry continued to decline in March, according to the latest Australian Industry Group - Housing Industry Association Australian Performance of Construction Index (Australian PCI®). The Australian PCI stood at 30.4 in March, up by 0.9 points but remaining below the key 50 points level separating expansion from contraction. A lack of new projects meant that the national construction industry continued to decline in March, according to the latest Australian Industry Group - Housing Industry Association Australian Performance of Construction Index (Australian PCI®). The Australian PCI stood at 30.4 in March, up by 0.9 points but remaining below the key 50 points level separating expansion from contraction. Australian Industry Group (Ai Group) Associate Director, Economics and Research, Tony Pensabene, said the March results show more evidence of a struggling construction industry as low market demand and tight credit conditions lead to on-going falls in activity. "However, there is an easing in the pace of the industry's contraction, reflecting slower rates of decline in the house building, apartments and commercial construction sectors", Mr Pensabene said. He added that a notable improvement has been evident in the considerable easing in the rate of contraction in house building activity since late 2008 on the back of lower interest rates and the increase to the first home owners grant. "In addition, the sizeable moderation in the level of contraction in apartment building activity in March, follows the recent upturn in approvals for the sector, and may provide an early sign of firmer investor demand, although it is a volatile segment of the building market," Mr Pensabene said. The full report is available for download from the AI Group website. 3. Building value rises  New residential building work rose in value in the year to December 2008, according to figures released this week by the Australian Bureau of Statistics.
New residential building work rose in value in the year to December 2008, according to figures released this week by the Australian Bureau of Statistics. Renovations, however, dropped in both the December quarter and over the year. Seasonally adjusted, the value of new residential work done fell 1.8 per cent to $8,777.0m in the December quarter 2008, down from the previous quarter. This was a rise of 2.9 per cent from the December 2007 quarter. Work done on new houses fell 1.0% to $6,143.6m, while new other residential building fell
3.8%, to $2,633.4m. Alterations and additions fell 3.9%, to $1,583.9m in the December quarter, down 3 per cent from the year before. 4. Buyers putting trust in friends and family Keen to take advantage of the current market advantages, yet faced with stricter lending criteria, Australia's potential buyers are increasingly looking for ways to secure finance approval sooner, a new report shows. According to the 2009 First Homebuyers Survey commissioned by broker Mortgage Choice, a number of Australians are turning to property co-ownership and joint-borrowing options to secure their home loan. Keen to take advantage of the current market advantages, yet faced with stricter lending criteria, Australia's potential buyers are increasingly looking for ways to secure finance approval sooner, a new report shows. According to the 2009 First Homebuyers Survey commissioned by broker Mortgage Choice, a number of Australians are turning to property co-ownership and joint-borrowing options to secure their home loan. Mortgage Choice Senior Corporate Affairs Manager, Kristy Sheppard said that sharing mortgage commitments with one or more people may ease the challenge of applying for and repaying a mortgage. "Plus, it often enables buyers to enter the market with a higher borrowing capacity and
increased security around home loan serviceability", she added. "Since lenders removed 100 percent loans from the market and limited the maximum lending per borrower to a 90 to 95 percent loan-to-value ratio or lower, we are witnessing a return to the `old days', when a loan approval relied, in part, on an upfront deposit built from genuine savings". The survey shows that 5% of people planning to buy their first home this year will do so with family. Of those buying with parents, 65% will joint purchase, 20% will receive a monetary gift to help raise adequate deposit and 15% will have parents act as loan guarantor, helping to bridge the upfront deposit and expenses gap plus eliminating the need for lenders mortgage insurance.
Over 1% nationally will buy with friends (over 2% in SA and WA). Not surprisingly, more Australians are expressing interest in purchasing their first property with people with whom they are unrelated, such as a friend or property syndicate, as a means to potentially enter the market sooner. This often increases their borrowing power and shares the financial responsibility. "It makes sense that an increasing number of buyers are considering collaborating with parents and friends for additional security with their mortgage, especially in the current economic climate," Ms Sheppard said. "If potential buyers are eager to take advantage of today's `buyer's market' but have a smaller deposit or a lower income than needed for a loan approval, they should be aware of available loan options that could help their situation. "Visiting a reputable mortgage broker is a great place to start researching different options, as is the internet. Don't be afraid to utilise social networking websites or online forums to speak first-hand to current property owners about the pros and cons of their loan decisions". "Of course, entering into a financial commitment with friends or family can stretch the boundaries of a relationship. Seeking independent legal and financial advice prior to signing a loan contract is very important. All parties must fully understand their rights and obligations to the loan and it is sensible to have agreements in writing before proceeding. 5. Less is Best  If you're selling a property the golden rule is, "less is best." This means taking clutter off shelves, clearing kitchen bench tops, taking excess books off shelves, removing large pieces of furniture and if you have collections, such as art or memorabilia, packing them away.
Think of it this way, you'll be moving anyway so you might as well start clearing the decks. Remember, buyers want to see themselves in your home, not you! 6. Council meetings in your living room Australian councillors, planners and ratepayers now have a common ground on which to meet to discuss current issues - an online community forum. According to its publicity, Bang the Table is an "independently moderated space for discussing public policy". The idea behind it is to host discussions for public policy organisations that recognise the value of community input to their decisions. For example, there are currently ongoing discussions on the site relating to Hornsby Shire's Housing Strategy and the introduction by the Blue Mountains City Council of 8 trial `dog off-leash' sites. Bangthetable.com's director, Matthew Crozier, says the site only hosts discussions for decision-makers, which is useful to government officials who can use it to judge the heat and depth of an issue within a community. Is your community participating? | |
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