Latest Property News from Ted Hanson

Blood Oath There was a story of a little girl named Liza who was suffering from a disease and needed blood from her five-year-old brother, who had miraculously survived the same disease and had developed the antibodies needed to combat the illness. The doctor explained the situation to her little brother, and asked the boy if he would be willing to give his blood to his sister. I saw him hesitate for only a moment before taking a deep breath and saying, "Yes, I'll do it if it will save Liza." As the transfusion progressed, he lay in bed next to his sister and smiled, as we all did, seeing the color returning to her cheeks. Then his face grew pale and his smile faded. He looked up at the doctor and asked with a trembling voice, "Will I start to die right away?" Being young, the boy had misunderstood the doctor; he thought he was going to have to give her all his blood. 1. Investor confidence mirrored There is no doubt that investor activity in the property market has increased over the past three months, and the reasons are evident in the latest Consumer Price Index (CPI) figures, the Real Estate Institute of Australia (REIA) said this week. The June 2009 quarter CPI figures show that rents increased by 1.4 per cent for the weighted average of eight capital cities, and increased 7.2 per cent for the year. Read More... There is no doubt that investor activity in the property market has increased over the past three months, and the reasons are evident in the latest Consumer Price Index (CPI) figures, the Real Estate Institute of Australia (REIA) said this week. The June 2009 quarter CPI figures show that rents increased by 1.4 per cent for the weighted average of eight capital cities, and increased 7.2 per cent for the year. Rents rose in every capital city, ranging from 2.2 per cent in Darwin and Adelaide respectively to 0.9 per cent in Canberra over the June quarter. For the twelve months to June, the increases for the other capital cities were: Brisbane, 1.4 per cent; Sydney, 1.5 per cent; Melbourne, 1.3 per cent; Hobart, 1.5 per cent; and Perth, 1.8 per cent. REIA CEO Neil Fisher says the figures are consistent with research published in the latest REIA/Deposit Power Housing Affordability Report. "The increased number of investors purchasing property over the last three months (as reported by the Australian Bureau of Statistics) can be attributed to relatively stable housing prices and the prospect of reasonable rental returns", Mr Fisher said. "By contrast to the increases in rentals, the CPI recorded a 0.8 per cent increase in the cost of house purchase, as distinct from house prices, in the June quarter and 5.2 per cent for the twelve months. "The CPI figures for the cost of house purchase for the June quarter reflect the impact of the First Home Owner's Grant Boost (FHOG Boost) and interest rate reductions", he concluded. Top 2. A mite exposed The millions of people around the world with house dust mite allergies may find answers to the problem in a newly-published book on the subject. CSIRO Entomology's Dr Matt Colloff's book, Dust Mites is an exposé of the lives of house dust mites, the problems they cause, how they cause them and what measures can be taken to control their numbers. Read More... The millions of people around the world with house dust mite allergies may find answers to the problem in a newly-published book on the subject. CSIRO Entomology's Dr Matt Colloff's book, Dust Mites is an exposé of the lives of house dust mites, the problems they cause, how they cause them and what measures can be taken to control their numbers. "This is the first book to comprehensively cover all aspects of the mites, which can cause allergic responses ranging from asthma and hay fever to eczema," Dr Colloff says. "House dust mites feed on organic `dust' such as flakes of shed human skin and love our houses where they can be found in our beds, clothing, curtains and carpets." The allergens produced by the mites are found in their bodies, secretions, faecal matter and shed skins. Some of their gut enzymes can be strongly allergenic and these often persist in their faecal matter. Far from just being a nuisance in the home, the ubiquitous critters have even been found in the Antarctic and on the Mir Space Station. Their recorded history goes back to the 17th Century, as illustrated in a 1657 woodcut by August Hauptmann which appears on the cover of Dr Colloff's book. "A fresh look at clinical trials revealed that there needed to be at least a 90 per cent reduction in allergen levels to significantly improve patient outcomes", Dr Colloff says. "This new information means we can start improving the effectiveness of dust mite control." Top 3. Suppliers in hot water over unsafe bottles The Australian Competition and Consumer Commission is leading a nation-wide blitz on unsafe hot water bottles after more than 10 people in New South Wales were hospitalised with severe burns this winter alone. ACCC chairman, Graeme Samuel, announced this week that investigations by government consumer agencies across Australia have found some hot water bottles fail to meet mandatory safety requirements. Read More... The Australian Competition and Consumer Commission is leading a nation-wide blitz on unsafe hot water bottles after more than 10 people in New South Wales were hospitalised with severe burns this winter alone. ACCC chairman, Graeme Samuel, announced this week that investigations by government consumer agencies across Australia have found some hot water bottles fail to meet mandatory safety requirements. "It is alarming to find children and elderly people severely burnt and to find some retailers selling illegal hot water bottles", Mr Samuels said. "The ACCC, the states and the territories are now working together to investigate and test hot water bottles across Australia." Preliminary assessments should be available in the upcoming weeks. Unsafe hot water bottles will be withdrawn from sale. "This is a warning for hot water bottle suppliers to ensure their merchandise is safe and meets the mandatory product safety standard designed to protect all Australians," he said. The mandatory standard requires hot water bottles to be of an acceptable capacity and thickness and meet stringent performance tests relating to leakages, seam strength and pressure. The ACCC expects that the national investigation will help eradicate unsafe hot water bottles from store shelves across Australia, but in the meantime offers the following safety tips: Never use an old hot water bottle - most are only designed for one winter season. Always do a quick check of a hot water bottle for weak seams - get rid of it if it shows any sign of perishing or splitting. Hot water burns like fire - so never fill a hot water bottle with boiling water. Leaking or splitting hot water bottles cause very serious injuries. Never put pressure or lie on top of a hot water bottle. If you use a hot water bottle to warm a bed, remove it when a person gets in. Top 4. Nesting hours caught in net It seems winter isn't the only thing keeping Australians indoors this year. According to a recent survey of our entertainment habits, half of us save money by spending at least five extra hours at home each week with pastimes that don't blow the budget. Read More... It seems winter isn't the only thing keeping Australians indoors this year. According to a recent survey of our entertainment habits, half of us save money by spending at least five extra hours at home each week with pastimes that don't blow the budget. Of the 1,201 people who responded to the Pure Profile survey carried out for Telstra in May, one in four cited surfing the internet as a favored form of entertainment, with almost half feeling the effects of the downturn. This figure was highest in Victoria (53 per cent) and lowest in the Northern Territory (30 per cent). The survey showed that 50 per cent of people have come close to or exceeded their internet plans more often in the past six months as they jumped online instead of heading out. Social commentator Mark McCrindle said that as people spent more time at home they were using the internet more. 'The trend towards nesting finds a growing number of people using the internet not only for research and education but increasingly for entertainment,' Mr McCrindle said. The survey showed 28 per cent entertaining friends at home, as 65 per cent ate out less, while 26 per cent surfed the net for entertainment. Top 5. The early German catches the chair There's nothing like going on holiday, kicking your feet up and relaxing by the pool, which may be why resort sun chairs are in such high demand around Europe. Now it seems there is a way for the early bird to be even earlier when staking a claim on a recliner. Reuters reported recently that German holidaymakers, famous for rising early to reserve poolside chairs with a towel then going back to bed or eating a lengthy breakfast, can now book a resort recliner before they've even left home. The German arm of Thomas Cook, Europe's second largest travel company, is offering the service for a fee at nine hotels in Turkey, Egypt and the Canary Islands, to the dismay of tourists from other nations as it is valid only for people booking their trips from Germany. Top 6. Let them eat mortgage cake It seems a US woman has cooked up a novel solution to avoid defaulting on her mortgage payments. Angela Logan, a divorced mother of three, resorted to a bake sale to save her home from foreclosure, with the goal of selling 100 homemade "mortgage apple cakes" at AU$48 each. US news agency The Record reports that within a week she had over 500 orders, as well as the icing on the cake - an invitation from a nearby hotel to use their kitchen over the weekend before the first of three $3075.10 payments was due. Ms Logan is reportedly confident the first payment won't be a problem and has said she won't stop baking until people stop ordering.

Latest Property News from Ted Hanson

Friday 24 July 2009 Thought for the day How far you go in life depends on your being tender with the young, compassionate with the aged, sympathetic with the striving and tolerant of the weak and strong. Because someday in life you will have been all of these. George Washington Carver 1. New building drops New residential building work fell sharply in the March 2009 quarter, according to final figures released this week by the Australian Bureau of Statistics. Seasonally adjusted work done on new residential dwellings fell by a downwardly revised 7 per cent in the March 2009 quarter to an annualised worth of $33.1 billion, 4.8 per cent down on a year earlier. Read More... New residential building work fell sharply in the March 2009 quarter, according to final figures released this week by the Australian Bureau of Statistics. Seasonally adjusted work done on new residential dwellings fell by a downwardly revised 7 per cent in the March 2009 quarter to an annualised worth of $33.1 billion, 4.8 per cent down on a year earlier. Work done on detached houses fell by 9 per cent over the March quarter to be worth $22.5 billion in annualised terms, while work done on `other residential building' fell by 2.5 per cent to be worth an annualised $10.6 billion. The decline in seasonally adjusted new home building work done was evident across Australia in the March 2009 quarter, with the largest falls occurring in New South Wales (down 13.1 per cent) and Tasmania (down 11.8 per cent). There was a drop of 7.1 per cent in Victoria, 6.5 per cent in Western Australia, 3.6 per cent in the Australian Capital Territory, 3 per cent in Queensland, and 2.4 per cent in South Australia. In the Northern Territory, new home building work done was down by 28.9 per cent in original terms, compared to the March 2008 quarter. Work done on major alterations and additions fell by 3.2 per cent in the March 2009 quarter but there are indications that this sector will grow in the June quarter. Top 2. Vacancy rates at all-time low There is no easy place to find a rental property this winter, with vacancy rates in many states at historic lows, according to surveys released this week by the Real Estate Institutes (REI) in each state. In Western Australia and Queensland, however, the figures have begun to turn around again, as renters take advantage of the current climate to buy their first homes. Read More... There is no easy place to find a rental property this winter, with vacancy rates in many states at historic lows, according to surveys released this week by the Real Estate Institutes (REI) in each state. In Western Australia and Queensland, however, the figures have begun to turn around again, as renters take advantage of the current climate to buy their first homes. New South Wales' renters are doing it toughest, with Sydney's rental vacancy rate at its lowest level in 12 months, according to the latest data released by the REINSW. In May 2009, the percentage of available rental properties across Sydney slumped by half a percent to 1.0 per cent. The figure varied according to distance from the CBD, with outer suburbs feeling the brunt. The REINSW figures show that the percentage of available properties in suburbs more than 25 kilometres from the CBD fell 0.4 per cent to 1.0 per cent, while in Sydney's `middle' suburbs, between 10 and 25 kilometres from the CBD, rental vacancies fell 0.2 per cent to 1.5 per cent. The only parts of Sydney not to record a fall in available rental properties were suburbs within 10 kilometres of the CBD, which recorded a vacancy rate of 1.4 per cent - unchanged compared to the previous month. Key regional areas in NSW fared no better, recording rental vacancies between 1.2 per cent in Wollongong (a drop of a full 1 per cent) and 1.7 in the Hunter Valley. In Victoria, REIV figures show that the vacancy rate in Melbourne was 1.3 per cent in May 2009, the same as in April and a slight variation on the 1.4 per cent recorded in January, February and March. The overall vacancy rate in Melbourne has moved between 1 per cent and 1.4 per cent over the past twelve months. The story is similar across the state, with the overall vacancy rate in regional Victoria recorded at 1.6 per cent in May, down from 2.2 per cent in April. Some key regional centres are displaying record lows, such as 0.6 per cent in Bendigo and 0.5 in Ballarat. Despite evidence of a slowing rental market, the Real Estate Institute of South Australia (REISA) reported that the vacancy rate for metropolitan Adelaide tightened to 1.50 per cent in May. Mid to high-end properties are moving slowly, a spokesman said, stressing the importance of making sure the investment is priced according to market conditions. In Queensland, on the other hand, the REIQ is reporting that rents have begun to stabilise or ease slightly over the June quarter due to low interest rates and thousands of renters becoming first home buyers. REIQ's Dan Molloy said that thousands of Queenslanders have taken advantage of historically low interest rates and the raft of government first home buyer incentives to move out of the rental market into their own home. "This has alleviated some of the pent-up demand that has been burdening Queensland's rental market for more than four years, which put upward pressure on rents." REIQ rental vacancy rates show demand has eased in many areas across the state; however with vacancy rates of 1.9 per cent, 0.9 per cent and 2.5 per cent respectively, Brisbane, Toowoomba and Mackay are still affected by more demand than supply. "While rents are steady, gross rental yields of more than 5 per cent are being achieved in many cases," Mr Molloy said. "Compared to other investment vehicles, investment property is really holding its own with solid yields, the possibility of good capital growth and lower financing costs making entry into the market more affordable." Western Australia is reporting eased conditions for renters, with figures released by the REIWA showing that the availability of rental properties has increased, with the vacancy rate growing to 3.6 per cent in the quarter. This has had the effect of lowering the median rental payments for houses by around $10, to a median of $360 per week. However, rents for units and apartments remained unchanged at a median of $350 per week. The REIWA is predicting that this vacancy rate could rise further during the September quarter as more renters become first home buyers and as some of the retrenched mine workers move back east. Top 3. Renovate, relocate or detonate: that is the question What do you do if you're in the right place, but the wrong house? According to Archicentre, the building advisory service of the Australian Institute of Architects, it is a question many homeowners have to face at some point and there's no easy answer as every situation is unique. Read More... What do you do if you're in the right place, but the wrong house? According to Archicentre, the building advisory service of the Australian Institute of Architects, it is a question many homeowners have to face at some point and there's no easy answer as every situation is unique. When looking for their new home, home buyers seek out neighbourhoods and houses for features they can check off like items on a wish list, Angus Kell, ACT and NSW State Manager of Archicentre commented recently. If the house does not quite fit the needs, they renovate. "Building has been expensive over the last few years; however, with the current economic climate and low interest rates, renovation or building a new home is an attractive financial proposition", Mr Kell said. "The notion that a new home or renovation offers a brand new lifestyle experience still appeals to a wide range of people," he added. The Three Big Questions that homeowners with the `wrong house' find themselves asking are whether to sell up and try somewhere else, knock it down altogether and start again, or just fix the important bits. Relocate? Moving may be the easiest option to consider, but potentially it can be the most costly and may require a further extension on a mortgage. To avoid a repeat of the `wrong house' syndrome, Mr Kell suggests a Pre-Purchase Inspection to check both the condition of the building and an architect's opinion of the property's potential. Detonate? Knocking it down is always an option, provided you've received council approval. Pay a visit to display home villages or peruse standard house plans, but keep in mind that it's rare to find a house that totally suits your needs and taste (and alterations to standard plans can be disproportionately costly). Renovate? Renovation has a threefold advantage - investment in the family home does not attract capital gains tax when it is sold; people get to enjoy a better lifestyle; and they could turn part of their home into a future revenue stream by creating a self contained living area for rent. If you want to maximise your property's potential but aren't sure if it can be modified, whether it's feasible or within reach of your budget, a design report can help by offering advice from a creative professional with ideas on adapting your home for both current and future needs. Top 4. Are you prepared for Winter? As winter tightens its grip on the nation, new research shows that many Australian householders are ill prepared to handle a fire in the home, national insurer AAMI warned this week. AAMI's annual Firescreen report shows most homes lack basic fire-fighting equipment, with renters the least likely to own fire extinguishers and blankets. Read More... As winter tightens its grip on the nation, new research shows that many Australian householders are ill prepared to handle a fire in the home, national insurer AAMI warned this week. AAMI's annual Firescreen report shows most homes lack basic fire-fighting equipment, with renters the least likely to own fire extinguishers and blankets. AAMI Public Relations Manager Emma Watts said that while most homes are equipped with a smoke detector (94 per cent) the research shows the opposite about basic fire-fighting equipment like fire extinguishers and blankets. "Only one-third of homes are equipped with an extinguisher (33 per cent) and fewer still have a fire blanket (25 per cent)", she said. "These tools can mean the difference between quickly containing and extinguishing a small kitchen fire - where most home fires start - and losing control altogether." Ms Watts said the lack of this basic equipment might explain why so few householders are confident their homes are adequately stocked for extinguishing a fire. "Just one-third of householders (36 per cent) are confident they have sufficient equipment for putting a fire out, which contrasts with the two-thirds that say they know the best response to a fire (69 per cent). "The sad irony here is that those who know the best response to a fire would be unable to act because they don't have the basic equipment", she added. The good news is that most Australians whose homes contain basic fire fighting equipment know how to use it. The research shows that nine in ten householders with fire extinguishers know how to use them, as do 96 per cent of those with fire blankets. "The five per cent of Australians who have no fire fighting equipment whatsoever could learn a lot from those who do," Ms Watts said. Ten Top Fire Safety Tips Have an adequate number of smoke alarms throughout your home and test them regularly. Develop a home escape plan and rehearse it with all the members of the household. If you have a fireplace, place a screen in front of it when in use, and keep the chimney clean. Check electric blankets for damage or frayed cords before placing them on the bed. Take care to keep curtains, tablecloths and bedding away from portable heaters. Keep wet clothing at least one metre from heaters or fireplaces. If you use a clothes dryer, ensure you clean the lint filter each time you use it. Use candles with care and extinguish them before going to bed or leaving the house. Store matches and lighters in a secure place not accessible to young children. Use only authorised installers of fixed heating appliances. Oil, gas or wood heating units may require a yearly maintenance check. Top 5. Hot dog, we have a weiner in the house! Would a catastrophe be easier to swallow if the car that crashed into your home was a famous giant hotdog on wheels? Having the Oscar Mayer Weinermobile visit you at home may be a dream come true for American children; however one US family was left with more than an upset stomach when the driver of the iconic vehicle drove the oversized foot-long head-first into their Wisconsin house last Friday. The driver was reportedly attempting to turn the Weinermobile around after taking a wrong turn down a dead end street, but then he accelerated forward, rather than reversing. A spokeswoman for Oscar Mayer has said insurance will cover the damage to both the house and hotdog. Top 6. Seat-saw for growing kids Children, they grow up so fast. While the process of life is a wonderful thing, it does place a limited lifespan on a lot of childhood items like clothes and kiddie seats. Supporting longevity, Dutch designer and mother Maartje Steenkamp created Highchair to be a companion through childhood, dimishing in height as the kids grow. Starting out as a highchair for babies, the wooden frame has notches on the legs so that as the children grow larger you can saw off the no-longer-necessary height.

Latest Property News from Ted Hanson

Food for thought When one door of happiness closes, another opens; but often we look so long at the closed door that we do not see the one which has been opened for us. 1. Investors return There is increasing evidence that investors are starting to return to the property market, due to attractive yields, low interest rates and the ability to earn a positive return, according to the Real Estate Institute of Australia (REIA). REIA President David Airey said recently that after nine months of market domination by first home buyers, there are signs of investors returning to the market. Read More... There is increasing evidence that investors are starting to return to the property market, due to attractive yields, low interest rates and the ability to earn a positive return, according to the Real Estate Institute of Australia (REIA). REIA President David Airey said recently that after nine months of market domination by first home buyers, there are signs of investors returning to the market. In April, the seasonally adjusted value of finance commitments for investment housing increased for the second consecutive month. "This is the first time investment in housing has increased for two consecutive months since mid 2007", Mr Airey said. The rise in April was due to increases in finance commitments for the purchase of existing dwellings while for the investment of newly constructed dwellings, there was a decline. "Investors are returning to the market because of strong rental returns creating positive gearing and excellent capital growth prospects", continued Mr Airey. The REIA's recent Mortgage Choice Real Estate Market Facts publication indicated that average loan repayments were cheaper than median rent payments in Hobart, Darwin and Canberra. "Based on median house prices and median rents, investors in six of the eight capital cities can expect a positive return based on a 25 per cent deposit and by using an interest-only loan", Mr Airey said. "History shows that fortune favours the brave and astute investors may see this as a great opportunity to invest in quality property with great long-term growth prospects", he concluded. Top 2. Forecast is good: ACIF The outlook for residential building is strong and clear, according to the latest forecasts from the Australian Construction Industry Forum's Construction Forecasting Council (CFC). ACIF executive director Peter Barda said this week that while the short-term outlook is beginning to look encouraging, the medium-term outlook for single unit dwellings is very good. Read More... The outlook for residential building is strong and clear, according to the latest forecasts from the Australian Construction Industry Forum's Construction Forecasting Council (CFC). ACIF executive director Peter Barda said this week that while the short-term outlook is beginning to look encouraging, the medium-term outlook for single unit dwellings is very good. "Residential building in 2008/09 and 2009/10 will be steady in real terms, before increasing moderately in 2010/11", Barda predicted. "Also looking quite positive is engineering construction, where - aside from mining infrastructure, which has seen massive expenditure on the back of the resources boom and a corresponding large slump in spending as commodity prices have fallen - the outlook for infrastructure construction means much of this sector should avoid a collapse in activity." ACIF's figures suggest that while approvals have continued to slide in recent months, substantial pent-up demand remains for housing and there will be a strong upturn in the near future. "After falling by 17.6 per cent in the December quarter 2008, total approvals were down a further 16.4% in the March quarter 2009, with all categories falling", Barda said. "Approval levels in the investor-sensitive unit/townhouse market have almost halved in the past six months, while house approvals have fallen by more than a quarter since the September quarter of 2008." He said that while 2008/09, and 2009/10 total residential building activity was forecast to be flat in real terms, it would rebound by 35 per cent in 2010/11. "Demand is still there for housing: stocks still remain in short supply, and rents are continuing to rise," said Barda. In addition, household debt levels have come down significantly, consumer confidence looks to be returning and bank lending for home borrowers is loosening up. "Currently, the main negative is uncertainty over unemployment levels - which on the latest figures looks to have less impact than was being predicted a few months ago," said Barda. "As the economy turns around, and people start finding jobs again, residential will start to really take off. "And once the commercial developers re-enter the market and house price growth starts to improve, this sector will record strong growth," he predicted. ACIF's Construction Forecasting Council (CFC) produces twice-yearly forecasts of building and construction activity, covering short, medium and long-term prospects for the industry. These forecasts are based on modelling of the economy by KPMG Econtech, and include short-term to long-term forecasts (10 years). The CFC's latest forecast figures have been derived from the December 2008 quarter National Accounts and Australian Bureau of Statistic building approvals to the end of January. Top 3. Aussies still opt for variable rates Australian borrowers continue to show their traditional leaning for `a bob each way', opting for variable rate mortgages in the face of some of the lowest interest rates in years, according to figures released by mortgage broking firm AFG this week. Read More... Australian borrowers continue to show their traditional leaning for `a bob each way', opting for variable rate mortgages in the face of some of the lowest interest rates in years, according to figures released by mortgage broking firm AFG this week. AFG's latest Mortgage Index shows an increase in the proportion of buyers opting for fixed rate mortgages from a low of 2.5 per cent in February 2009 to 8.3 per cent in June 2009. Nevertheless, while more buyers are seeking to lock in low fixed rates, the vast majority of buyers still believe they are better off with variable rate mortgages, according to AFG's General Manager of Sales and Operations, Mark Hewitt. The report also shows that the mortgage market is becoming more stable again, with numbers of first home buyers dropping to more normal levels, investors returning and Loan to Value ratios becoming more realistic as lenders again tighten their credit policies. Top 4. Home lending defies global doom A lift in home lending in May points to a green shoot in home building, the Housing Industry Association said this week. HIA Senior Economist Ben Phillips said that the number of loans for new dwellings had risen for nine consecutive months and pointed to a modest recovery emerging for residential construction. Read More... A lift in home lending in May points to a green shoot in home building, the Housing Industry Association said this week. HIA Senior Economist Ben Phillips said that the number of loans for new dwellings had risen for nine consecutive months and pointed to a modest recovery emerging for residential construction. "New home lending figures are in contrast to the surprise negative building approvals figures for May and show that the housing sector continues to be buoyed by the first home buyers grant and low interest rates", Phillips said. The total number of seasonally adjusted loans for owner occupiers increased by 2.2 per cent in the month of May 2009 to a level 23.5 per cent higher than in May last year. There was an 8 per cent increase in loans for construction while lending for established dwellings (net of refinancing) was up by 2.7 per cent. The number of loans for the purchase of new dwellings grew by 2.9 per cent. "First home buyer activity continues to be a key feature of the strength in housing finance with the number of loans for first home buyers up by 102.5 per cent in May compared to a year earlier," Phillips said. "Most pleasing was a return of investors for the construction of new rental dwellings which grew by 83.7 per cent over May", he added. "Conditions for rental investment have improved significantly recently with strong rent growth, low interest rates and renewed confidence in house prices buoying the sector." HIA is forecasting a 15 per cent increase in housing starts by the December quarter this year following a trough reached in the March quarter. In seasonally adjusted terms the total number of owner occupier loans in May 2009 increased in New South Wales (up by 1.5 per cent), Victoria (up 3.1 per cent), Queensland (up 3.4 per cent), South Australia (2.6 per cent) and Western Australia (0.5 per cent), but fell in the Northern Territory (down by 5.4 per cent), Tasmania (down 3.3 per cent) and the Australian Capital Territory (down 1.0 per cent). Top 5. Ninja coat hooks When your little warriors return after a hard day battling enemies and roaming the big bad world, the last thing they may feel like doing is hanging up their clothes. Unless of course you carry on the theme with Ninja Star Coat Hooks that screw into the wall, making it look like a ninja attack just went down. Top 6. Winning with a smile Parisians are hoping grinners are winners in the face of economic downturn. With the prospect of dwindling tourism numbers fuelled by the financial crisis and a stereotype that pegs them as an unfriendly country, the Paris tourist board has requested simply that residents smile. Reuters reports the board has set up stands manned by teams of "smile ambassadors" to welcome holiday makers at the city's most popular spots. And while they may not be able to guarantee sunny dispositions, the French can offer insurance cover for bad weather. The insurance policy, launched by holiday groups Pierre et Vacances and FranceLoc, will mean holiday-makers can recoup part of the cost of their trip if they endure four or more days of rain in any one week.

Latest Property News from Ted Hanson

It all about Attitude Attitude, to me, is more important than facts. It is more important than the past, than education, than money, than circumstances, than failures, than successes, than what other people think or say or do. It is more important than appearance, giftedness or skill. It will make or break a company... a church... a home. The remarkable thing is we have a choice every day regarding the attitude we will embrace for that day. We cannot change our past... we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude... I am convinced that life is 10% what happens to me and 90% how I react to it. And so it is with you... we are in charge of our attitudes." ~Charles Swindoll~ 1. Dwelling approvals dive in May The building industry took a blow this week with the news that housing approvals dropped 12.5 per cent in May following increases in the previous three months. Figures released by the Australian Bureau of Statistics show that while approvals for new detached houses dropped just 2 per cent, approvals for units fell by 39.5 per cent in May to a record low level of just 1,943 dwellings. Read More... The building industry took a blow this week with the news that housing approvals dropped 12.5 per cent in May following increases in the previous three months. Figures released by the Australian Bureau of Statistics show that while approvals for new detached houses dropped just 2 per cent, approvals for units fell by 39.5 per cent in May to a record low level of just 1,943 dwellings. The number of seasonally adjusted residential dwelling approvals decreased in May by 25.6 per cent in New South Wales, 8.9 per cent in Victoria, 13.3 per cent in Queensland and 17.5 per cent in South Australia. Dwelling approvals increased by 27 per cent in Tasmania and were flat in Western Australia. The trend number of approvals increased in both the Northern Territory (up by 3.0 per cent) and the Australian Capital Territory (up 11.2 per cent). The seasonally adjusted estimates for the value of new residential building approved and alterations and additions approved fell 5.6 per cent and 13.4 per cent respectively. Top 2. OCR remains on hold The Reserve Bank again decided to leave the cash rate unchanged at 3.0 per cent this week, citing a growing stabilisation in both the Australian and global economies. In his statement announcing the Bank's decision, Governor Glenn Stevens said that economic conditions in Australia have to date not been as weak as expected a few months ago, and inflation should continue to abate over the period ahead. Read More... The Reserve Bank again decided to leave the cash rate unchanged at 3.0 per cent this week, citing a growing stabilisation in both the Australian and global economies. In his statement announcing the Bank's decision, Governor Glenn Stevens said that economic conditions in Australia have to date not been as weak as expected a few months ago, and inflation should continue to abate over the period ahead. "A pick-up in housing credit demand suggests stronger dwelling activity is likely later in the year", Governor Stevens said. "House prices are tending to rise", he said, adding that market and mortgage rates are at very low levels by historical standards, despite recent small increases. The Board's current view is that the outlook for inflation allows some scope for further easing of monetary policy, if needed. "In assessing how it might use that scope, the Board will continue to monitor how economic and financial conditions unfold and how they impinge on prospects for a sustainable recovery in economic activity", Governor Stevens concluded. Top 3. Home values rise by 4 per cent Home values in Australia continue to trend upwards, according to research released this week by RP Data and Rismark International. The RP Data/Rismark National Home Value Index shows that over the month of May 2009, home values reached a national median of $468,819, to be just 0.1 per cent (or $520) shy of their peak in February 2008. Read More... Home values in Australia continue to trend upwards, according to research released this week by RP Data and Rismark International. The RP Data/Rismark National Home Value Index shows that over the month of May 2009, home values reached a national median of $468,819, to be just 0.1 per cent (or $520) shy of their peak in February 2008. The Index recorded an overall increase of 0.9 per cent in the month of May and a 3.9 per cent gain over the first five months of 2009. During the 12 months to May 2009, Australian home values have increased by 1.6 per cent. Perth is the only mainland capital city that has not recorded increased home values for the first five months of 2009. RP Data head of research Tim Lawless remarked that the results herald an Australia-wide recovery for the residential market. "It's important to note that it has taken just 15 months for values to recover from the February `08 peak", Lawless said. "I believe these results are encouraging, especially when we take a closer look at other Western markets around the world where prices are mostly in decline." Rismark International managing director Christopher Joye concurred with Mr Lawless' comments, saying that the results were the first clear signs of the so-called economic `green shoots'. "All of the subsequent evidence--housing finance approvals, auction clearance rates, and other independent house price data--has affirmed this story of an incredibly resilient housing market", Joye said. "The recovery in Australia's housing market, which has defied countless doomsayers, has in turn been the cornerstone of the Australian economy's stability in 2009. "The robust rise in Australian home values this year has given builders and developers confidence to hire labour and buy materials to invest in new homes. "It has also given existing owners the confidence that their largest investment has been a secure store of wealth while other asset-classes have been decimated", Joye said. The improvement in market conditions during 2009 has been largely driven by an increase in owner-occupier (as opposed to investor) activity, which, according to Australian Bureau of Statistics data, is up 23 per cent over the year. According to Mr Lawless, although investor activity remains low, investment interest is likely to gather pace in the second half of 2009. "Investors and first home buyers typically compete for similar housing stock", Lawless said. "Investors are becoming increasingly attracted to the strong rental yields that are creating positive cash flow opportunities within key markets around Australia." Lawless pointed out that the Australian Bureau of Statistics housing finance data in April also showed the first signs of a rebound in investor participation. "Given the capital gains recorded across most cities, growth in rental yields is now flattening", he said. "The gross annualised rental yield for units is now 5.3 per cent while house rental yields are slightly lower at 4.5 per cent." The Index shows that over the first five months of 2009 unit values increased by 4.5 per cent while house values rose by 3.7 per cent. Top 4. How green is my wall A few years ago, when the new Quai Branly museum opened in Paris, there was a mixed reaction to its four-storey high `living wall' - a vertical garden built into the face of one external wall comprising 15,000 plants of 150 different species. The living wall is now a happily accepted feature of the Parisian landscape and has spawned vertical garden systems all over the world, for both commercial and domestic use. Read More... A few years ago, when the new Quai Branly museum opened in Paris, there was a mixed reaction to its four-storey high `living wall' - a vertical garden built into the face of one external wall comprising 15,000 plants of 150 different species. The living wall is now a happily accepted feature of the Parisian landscape and has spawned vertical garden systems all over the world, for both commercial and domestic use. Installed indoors, the vertical garden not only becomes a feature wall, but also removes toxins and unhealthy contaminants from the air. It is partly for this reason that it has become a popular element in recent commercial architecture. Outdoors, it is perfect for blocking the sun from heat-absorbing walls, or creating instant fencing, private nooks or feature walls. Apartment dwellers can take advantage of the modular units to grow a vertical garden on their balcony - tomatoes, herbs, strawberries and many flowers will thrive happily this way, as long as they have sufficient light and water. Some systems are hydroponic, while others are soil-based, using a lightweight growing medium. There are modular vertical garden systems available on the market that are easy to assemble, or you can opt to have your wall installed by professionals with the plants already established. Top 5. Thicker than blood Cleanliness may be next to godliness, but what happens when the father sets a bad example? A US man and his son are facing over AU$25,000 in fees and fines after New York authorities removed about 42 tons of rubbish from their property. Officials reportedly removed - at the residents' expense - car parts, tyres, hoses and other rubbish that filled 10 garbage trucks. The house is listed as condemned. Top 6. Bed for sale, and they'll throw in the mansion There's nothing like a freebie to sweeten the deal. While some houses come with tax incentives, vacation offers, free dinners and gifts, a New Zealand couple have upped the ante by giving away their historic mansion free with a queen-size bed they were selling. Reportedly desperate to sell and sick of offers on the $300,000 house falling through, the couple listed the deal on online trading website TradeMe as "queen-sized bed for auction, with a free grand old home thrown in". The sale, which started at $1, closed last Saturday with the winning bid at $302,600.

Latest Property News from Ted Hanson

Our Deepest Fear Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. Your playing small does not serve the world. There is nothing enlightened about shrinking So that other people won't feel insecure around you. We were all meant to shine, as children do. It's not just in some of us; it's in everyone. And as we let our own light shine, We unconsciously give other people permission to do the same As we are liberated from our own fear, Our presence automatically liberates others. By Marianne Williamson 1. Shooting from the HIPS The devastating effects of bushfires on property and homes could be greatly reduced in the future, following an announcement this week by CSIRO of research into new fire-resistant coating materials. It has been found that HIPS (`hybrid inorganic polymer system') coatings can withstand temperatures of over 1000_C - a dramatic improvement compared to current commercial coatings used on building materials and structures which break down at 150-250_C. Read More... The devastating effects of bushfires on property and homes could be greatly reduced in the future, following an announcement this week by CSIRO of research into new fire-resistant coating materials. It has been found that HIPS (`hybrid inorganic polymer system') coatings can withstand temperatures of over 1000_C - a dramatic improvement compared to current commercial coatings used on building materials and structures which break down at 150-250_C. Project leader, Dr Damian Fullston of CSIRO Materials Science and Engineering, says the potential uses for HIPS are `almost limitless'. "Geopolymers are an emerging class of ceramic-like inorganic polymers produced at room temperatures that have the potential to transform the building products industry," Dr Fullston says. "They are not only fire-, blast- and acid-resistant, they are also strong, castable, sprayable, and extrudable." "The polymer additives in HIPS improve the flexibility and waterproofing properties and provide stronger adhesion, which are important properties for a coating." HIPS has the potential to form thin fireproof coatings on timbers such as weatherboards and on metals such as structural or galvanised steel. It can also protect brickwork, either as a thin coating or as a render. As water-based products, HIPS coatings are free of volatile organic compounds, do not burn or produce heat,and do not release smoke or toxic chemicals at temperatures up to 1200_C. Geopolymers are cost-competitive, since they are made from readily available raw materials. They can also be derived from industrial by-products such as flyash and blast furnace slag. They can be cheaper than organic resins and coloured with pigments or dyes. CSIRO also sees potential for the manufacture of fireproof wood composites and fire seals from HIPS technology, but has not fully explored these applications to date. Top 2. New home sales dip The month of May saw a surprising drop in sales of new homes, according to a recent survey of the nation's largest building firms. New home sales in May decreased by 5.7 per cent; however this is still 15 per cent above the low point in December of last year. Read More... The month of May saw a surprising drop in sales of new homes, according to a recent survey of the nation's largest building firms. New home sales in May decreased by 5.7 per cent; however this is still 15 per cent above the low point in December of last year. Sales of apartments and units grew 6.1 per cent during May. For the month of May, detached New Home Sales decreased by 9.9 per cent in New South Wales, 8.7 per cent in Victoria, and 13.5 per cent in Western Australia. Sales grew by 2 per cent in Queensland and by 3.6 per cent in South Australia. Top 3. Don't be bitten by frost fires As the cold sets in and the heating gets cranked up, it is important to keep an eye on the way we warm our homes, since the season comes hand in hand with a high risk of household fires. Something as simple as a faulty electrical appliance or washing left too close to a heater could put a home and family at risk, architectural body Archicentre warned this week. Read More... As the cold sets in and the heating gets cranked up, it is important to keep an eye on the way we warm our homes, since the season comes hand in hand with a high risk of household fires. Something as simple as a faulty electrical appliance or washing left too close to a heater could put a home and family at risk, architectural body Archicentre warned this week. Fire authorities report that the most common causes of winter fires are accidents or distractions in the kitchen, fireplace and heater-related incidents, and electrical faults. Archicentre's West Australian State Manager Brad Cook said there are around 11,000 house fires in Australia each year, and even in the cases where no one is hurt, the cost of losing a home is high on all levels. "Many homes damaged or destroyed by fire don't have working smoke alarms," Mr Cook commented. "In some cases fire authorities have reported the batteries have been removed from the smoke alarm, rendering them inoperable," he said. To ensure you and your family are well protected, Archicentre has put together a fire safety checklist - 1. Correctly install appropriate smoke alarms in effective locations. Test alarms regularly by pressing the test button with a broom handle. Vacuum them monthly to clean the vents. Replace the batteries annually. Use a long-lasting alkaline battery to ensure a continuous supply of battery power to your smoke alarm. 2. Never leave the room when cooking, or oil is being heated on the stove. If you throw water on a burning fat or oil fire, it will cause an explosive reaction. Put a lid over a burning pan or use a fire extinguisher or fire blanket. Install a fire extinguisher - a dry powder type. Obtain a Fire Blanket for kitchen stove top fires. 3. Prepare and practice an evacuation plan with an escape route and including door keys. Install lever handle latch on doors for quick exit without keys. Install deadlocks that can be opened from the inside without keys. If using deadlocks, leave keys in the lock inside the door so that you can escape in an emergency. Ensure security grilles are operable to open from inside the home. 4. Clean the exhaust fan grill over the stove to remove fire fuel fats and grease. 5. Clean the lint filter from the clothes dryer grille after each use and always let dryers complete the cool-down cycle 6. Install a Safety Switch on power and light circuits. Unplug appliances when not in use and if possible have appliances checked annually by a licensed electrician. Tidy up - remove if possible all extension leads. Do not run electrical leads under carpets or rugs. Push appliance power point plugs fully into power points and always turn off the power points when not in use. Get rid of double adaptors and reduce the use of power boards. Unplug the TV - don't leave it on standby - it may cause meltdown and fire. Switch off the electric blanket before you go to sleep. Have your heating units and ducted heating systems professionally serviced prior to winter use. 7. Never leave children alone around heating and cooking appliances and keep lighters and matches out of reach. 8. Take extra care with naked flames particularly the use of candles, and oil burners for essential oils and incense. 9. Don't smoke in bed. Ensure cigarette ash and butts are extinguished. 10. Use free standing space heaters with extreme care. 11. Avoid hanging clothes to dry too close to heaters as clothes can soon ignite. 12. Turn off heaters when you go to bed. 13. With an open fire ensure logs in fireplaces have burnt down before you go to bed. Use a heavy duty fire screen in front of fireplace to prevent sparks and burning logs rolling out of the fire onto the floor igniting the floor or carpet. Ensure the fire screen can't be tipped over if a burning log rolls out. Consider installing a wire fire screen or curtain within the fireplace. Remember that in a fire, every second counts. Archicentre recommends not stopping to pick up possessions but to get everyone out as quickly as possible and then call '000' from your neighbour's phone. Top 4. Young and restless Young Australians today are more likely to move across the country than any other generation, according to the latest Australian Social Trends publication from the Australian Bureau of Statistics (ABS). Read More... Young Australians today are more likely to move across the country than any other generation, according to the latest Australian Social Trends publication from the Australian Bureau of Statistics (ABS). Nearly two million Australians moved to a new city or region in the five years to 2006. The movers tended to be younger than the rest of the population, with 40 per cent of them aged between 20 and 39. Southeast Queensland - particularly Brisbane, Gold Coast-Tweed and the Sunshine Coast - and southwest Western Australia were the most popular destinations. The report also shows that when they are `at home', more young Australians today are likely to be living with their parents and working on a casual basis. Top 5. Making a clean sale When preparing your house for sale, investing a little time and effort can reap huge returns. Consider spending a weekend in the garden, clearing out and cutting back messy overgrown plants, as well as a few days dedicated to cleaning up the clutter inside the house. You're going to be moving anyway, so start culling the old furniture, broken toys and bikes, old clothes, linen and kitchenware that you don't want in your new home. Most things can be recycled, through eBay, freecycle, Vinnies or another local charity. Reducing the clutter creates an impression of openness. Ideally, prospective buyers should be able to look past your furnishings and start planning how they'd arrange their furniture in your house. Top 6. Carpet ease without the VOC's Living in a heritage or rustic home is appealing to many people, but when it comes to renovation or repairs, maintaining the olde-world charm and authenticity can be a nightmare. This problem can be further exacerbated if you want to install sustainable or `green' features as part of the renovation. TacTiles from InterfaceFLOR are glue free adhesive films that connect carpet tiles together to form a stable surface, creating a floating floor over almost any hard surface. They're a sustainable alternative and also perfect for heritage fitouts, where maintaining original flooring integrity is a concern. Easy to remove and recycle, the films eliminate the health hazards of VOCs (volatile organic compounds) prevalent in conventional carpet glues, making them ideal for use in any home, heritage or modern.