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Rules in Life (for the Kids) RULE 1. Life is not fair; get used to it. RULE 2. The world won't care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself. RULE 3. You will NOT make 40 thousand dollars a year right out of high school OR college. You won't be a vice-president with a car phone, until you earn both. RULE 4. If you think your teacher is tough, wait until you get a boss. He doesn't have tenure. RULE 5. Flipping burgers is not beneath your dignity. Your grandparents had a different word for burger flipping; they called it opportunity. RULE 6. If you mess up, it's not your parents' fault, so don't whine about your mistakes, learn from them. RULE 7. Before you were born, your parents weren't as boring as they are now. They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you are. So before you save the rain forest from the parasites of your parents' generation, try "delousing" the closet in your own room. RULE 8. Your school may have done away with winners and losers, but life has not. In some schools they have abolished failing grades; they'll give you as many times as you want to get the right answer. This doesn't bear the slightest resemblance to ANYTHING in real life. RULE 9. Life is not divided into semesters. You don't get summers off and very few employers are interested in helping you find yourself. Do that on your own time. RULE 10. Television is NOT real life. In real life people actually have to leave the coffee shop and go to jobs. RULE 11. Be nice to nerds. Chances are you'll end up working for one. Excerpt from Charles Sykes 1. Signs of growth appearing There are definite signs of growth appearing in Australia's property market, with investors making a return and first home buyers remaining active, according to the Real Estate Institute of Australia (REIA). REIA President David Airey pointed out that data released by the Australian Bureau of Statistics this month shows a 1.2 per cent increase in the number of established home purchases, in comparison to a 0.9 per cent increase in the number of new home purchases. Read More... There are definite signs of growth appearing in Australia's property market, with investors making a return and first home buyers remaining active, according to the Real Estate Institute of Australia (REIA). REIA President David Airey pointed out that data released by the Australian Bureau of Statistics this month shows a 1.2 per cent increase in the number of established home purchases, in comparison to a 0.9 per cent increase in the number of new home purchases. "This is a really positive sign for the property market and shows that investors are starting to re-gain their confidence whilst the main drivers for first home buyers are low interest rates and the availability of the First Home Owner's Grant Boost (FHOG Boost)", Mr Airey said. "While the proportion of first home buyers decreased to 27.1 per cent in June, from 28.5 per cent in May, of total owner occupier housing finance commitments, the average loan size decreased by $11,600, reflecting the tightening of bank lending practices in the current economy", he added. Top 2. Bankruptcy threshold to be raised Homeowners who are having difficulties with debt have been handed a lifeline this week, with the announcement of a draft law to raise the bankruptcy threshold. If the law is passed, the threshold at which banks and other financial institutions can file for bankruptcy against individuals will jump from 2,000 to $10,000. Read More... Homeowners who are having difficulties with debt have been handed a lifeline this week, with the announcement of a draft law to raise the bankruptcy threshold. If the law is passed, the threshold at which banks and other financial institutions can file for bankruptcy against individuals will jump from 2,000 to $10,000. Speaking with the ABC, Attorney-General Robert McClelland said that personal bankruptcies for the last financial year were up 11 per cent on the previous year. "Increasingly, bankruptcies tend to involve people who have simply fallen on hard times rather than unscrupulous debtors trying to avoid paying their debts," Mr McClelland said. The Bankruptcy Legislation Amendment Bill 2009 seeks to give those in financial distress a more realistic opportunity to consider their options, reorganise their affairs and where possible, avoid bankruptcy, by: increasing the minimum debt for which a creditor can petition for bankruptcy from $2,000 to $10,000; increasing the stay period from when a declaration of intent to file a debtor's petition is filed to when a creditor may commence action to recover debts from seven to 28 days; and increasing the income, asset and debt thresholds to allow more people in financial distress to enter into voluntary debt agreements. The reforms aim to ensure those in financial difficulty have the opportunity and the ability to obtain advice and information about their options and possible alternative solutions before entering bankruptcy. Amendments will be made in consultation with all relevant stakeholders, so the draft Bill will be open for public comment until Monday, 14 September 2009. Top 3. New records broken The average new mortgage lodged in Australia rose to $354,000 in July - the highest figure on record, according to mortgage broker AFG. AFG's Mortgage Index shows that average mortgage sizes have been on the rise since May this year, after falling to a low of $339,000 in January. Read More... The average new mortgage lodged in Australia rose to $354,000 in July - the highest figure on record, according to mortgage broker AFG. AFG's Mortgage Index shows that average mortgage sizes have been on the rise since May this year, after falling to a low of $339,000 in January. As other institutions report rising house prices, the AFG data shows that borrowers in New South Wales, Queensland and Victoria are especially willing to take on more debt. Queensland's average mortgage size hit a new record of just over $339,000. The average mortgage sizes for New South Wales ($407,000) and Victoria ($321,000), though lower than some of the peaks recorded in late 2008, are the highest for 2009, well up on figures for earlier this year. The AFG Mortgage Index also shows a dramatic decline in the popularity of fixed rate mortgages, which fell from 8.3 per cent of all mortgages lodged in June, to only 5.0 per cent in July - a fall of almost 40 per cent. Given that fixed rate mortgages now factor in future interest rate rises, the decline in consumer interest suggests that many buyers feel they may have missed the boat in locking in low rates earlier this year. Mark Hewitt, General Manager Sales and Operations says that recent reports of house price increases are stimulating the market as a whole, and encouraging investors in particular. "That said, because interest rates remain at forty year lows, we'd encourage buyers to take into account the fact that their mortgages will almost certainly cost more to service as the overall economy picks up", Hewitt added. AFG's data confirmed the trend of investors returning to market, with 30 per cent of all mortgages arranged for investors - up from a low of 24.5 per cent in March. The investment trend was particularly high in New South Wales and Queensland, where 34 per cent and 33 per cent respectively of all loans arranged were for investors. The share of first home buyers remained steady at 19 per cent of the mortgage market. Top 4. More work from home Reduced work hours could translate into an increase of home offices as people look for ways to boost their incomes in the current economic downturn, building advisory service Archicentre said this week. Archicentre's General Manager David Hallett said that Australian Bureau of Statistics (ABS) figures published earlier this month, which showed Australian workers on average were being offered half a day less work a week, would add impetus to an already growing home office market in Australia. Read More... Reduced work hours could translate into an increase of home offices as people look for ways to boost their incomes in the current economic downturn, building advisory service Archicentre said this week. Archicentre's General Manager David Hallett said that Australian Bureau of Statistics (ABS) figures published earlier this month, which showed Australian workers on average were being offered half a day less work a week, would add impetus to an already growing home office market in Australia. "The attraction of the home office is that it can be set up quickly with limited funds and can also have some tax deductions attached to its operation", Hallett said. Fifteen years ago renovations incorporating a home office accounted for approximately 5 per cent of Archicentre design concepts. Today seven in ten Archicentre Design Reports incorporate a home office/study area, with people taking advantage of internet access and changed employment patterns to work as consultants or outreach workers. Mr Hallett said that corporate restructuring in both the private and government sectors is fueling the trend for home offices. This restructuring has led to an increased number of unemployed professional people at around 45 to 50 years of age looking for employment. Often the only way these people can become employed is to start their own business. "Young professionals, especially women involved in starting a family, are also part of the emerging home office trend", Hallett added. People buying a home with the intention of setting up an office need to consider a number of factors which could influence the success of the operation of the office, including: Can there be a separate entry to the office area for client access? This is an extremely important point as you and your family may wish to maintain your privacy rather than have clients entering through your home. Can you separate the business operations from home life? Using the home for business can have its drawbacks if the competing needs of the family use of facilities are not managed carefully; this can also damage your business if clients feel uncomfortable. Is location and visibility from the street important for your business? Is the chosen area of adequate size for the type of work you will carry out? Home office areas in an L or U-shape tend to be the most productive as you can have all your important items within reach. When planning the office consider the storage needs of the business, not just for the clients' files and reference material but also equipment such as computers, fax, photocopier, printer, scanner etc. Consider the space and facilities also in terms of any support staff you may require. Is there adequate light and ventilation? Have you chosen the quietest area to work? When choosing an area in the home or on the property, it is important to consider reducing noise levels - domestic and exterior (such as birds singing when you are making phone calls). Have you checked with the local council regarding planning laws in relation to your future business activities? Is there adequate parking for the people who may visit your home office? Will your business activity disturb neighbours? Lastly, have a talk with your accountant about any tax implications associated with running an office from home and ensure that you have appropriate insurance to cover both business equipment and clients visiting your premises. Top 5. $6.7 million to sleep with Marilyn We noticed this week that the US woman auctioning off her husband's burial plot has finalised the sale at a whopping NZ$6.7 million (when we reported the story last week the eBay auction had hit $3million). It seems that Elsie Poncher, whose husband died over 20 years ago aged 81, has decided his threats to come back and haunt her are not worth foregoing the sale. She's reported to have told the Los Angeles Times that when her husband bought the space from Monroe's ex-husband Joe DiMaggio, he told her that if she didn't put him upside down over Marilyn, he'd haunt her for the rest of her life. Top 6. Spell it out; it's a matter of time Have you ever checked the time, only to find yourself looking again moments later because the numbers didn't stay in your awareness? In our frequently busy lives it can be a lot easier to grasp things the first time if they're spelt out for us - and that's exactly what QlockTwo does. The handmade clock from Germany has no numbers or hands, but instead has a typographic format that literally tells you the time in words. A quadratic matrix of letters lights up, displaying the time in five minute intervals, and it has illuminating dots in each of the square's four corners to give a more precise minute reading.

Latest Property News from Ted Hanson

How poor we are One day a father, of a very wealthy family, took his son on a trip to the country with the firm purpose of showing his son how poor people can be. They spent a couple of days and nights on the farm of what would be considered a very poor family. On their return from the trip, the father asked his son,"How was the trip?" "It was great Dad!" "Did you see how poor people can be?" the father asked. "Oh yeah," said the son. "So what did you learn from the trip?" asked the father. The son answered, " I saw we have one dog and they have four. We have a pool that reaches to the middle of our garden and they have a creek that has no end. We have imported lanterns in our garden and they have the stars at night. Our patio reaches to the front yard and they have the whole horizon. We have a small piece of land to live on and they have fields that go beyond our sight. We have servants who serve us, but they serve others. We buy our food, but they grow theirs. We have walls around our property to protect us, they have friends to protect them." With this the boy's father was speechless. Then his son added, "Thanks Dad for showing me how poor we are." 1. Housing to lead recovery Property investors driving a demand for housing construction will lead Australia away from recession into a solid economic recovery over the coming years, according to a new report released this week by economic forecaster and industry analyst, BIS Shrapnel. The short-term forecast, however, is that Australian households should brace themselves for a run of bad economic news in coming months. Read More... Property investors driving a demand for housing construction will lead Australia away from recession into a solid economic recovery over the coming years, according to a new report released this week by economic forecaster and industry analyst, BIS Shrapnel. The short-term forecast, however, is that Australian households should brace themselves for a run of bad economic news in coming months. BIS Shrapnel's Long Term Forecasts, 2009 - 2024 report says the Australian economy's most difficult phase will occur over the next year. The company is forecasting a substantial decline in business investment, falling household incomes and weak consumer spending, which will result in a fall in employment. Nevertheless, BIS Shrapnel does not expect a recession this financial year. "Positive net exports, a turnaround in the stock cycle, housing construction and government spending will combine to prevent a contraction in the economy," says BIS Shrapnel report author and senior economist, Richard Robinson. Beyond 2010 BIS Shrapnel is forecasting a solid recovery, led by housing construction. Economic growth will strengthen over 2011/12 as consumer demand recovers and subsequently, business investment and employment regain momentum. "A lack of synchronisation in Australia's investment cycles had proved fortuitous for the economy, allowing the investment boom to run uninterrupted for eight years," says Robinson. "And now housing construction, which has been constrained by a lack of affordability since the cycle turned down in 2003/04, is poised for a strong upswing once economic conditions have sufficiently stabilised." BIS Shrapnel says strong pent-up demand in combination with low interest rates, high rents and high rental yields is set to drive a strong phase of construction from 2010/11, which will strengthen over 2011/12 and 2012/13. Top 2. ASIC thaws out frozen funds Frozen mortgage funds will be subject to more `thawing out' after the announcement this week by the Australian Securities and Investments Commission (ASIC) of changes to hardship withdrawals. Mortgage funds froze redemptions in October 2008 to prevent withdrawals from destabilising the funds. Read More... Frozen mortgage funds will be subject to more `thawing out' after the announcement this week by the Australian Securities and Investments Commission (ASIC) of changes to hardship withdrawals. Mortgage funds froze redemptions in October 2008 to prevent withdrawals from destabilising the funds. According to ASIC, a freeze means that for a period the operators have decided to delay redemptions until liquidity improves. A freeze does not necessarily mean that there has been a loss of asset value, and it does not necessarily mean that investors will not get their money back. The changes, which expand the circumstances in which operators are able to make payments to fund members who demonstrate the need to access funds on hardship grounds include: The changes to the existing hardship relief provisions include: The cap on hardship withdrawals for each member is raised to $100,000 each calendar year, from $20,000 plus 50 per cent of the member's interest; An investor can make up to four hardship withdrawals a calendar year, instead of a once-only withdrawal (subject to the overall cap of $100,000); and Hardship grounds are extended: (a) To cover a beneficiary of a deceased estate of a member where the beneficiary is suffering hardship; and (b) To make it clear a person unemployed for at least three months without other means may apply for hardship relief. ASIC first announced hardship relief measures in October 2008. Since then ASIC has provided existing hardship relief to 22 operators for 76 frozen funds. These funds hold approximately $25 billion of funds under management. Based on responses from 46 funds, these funds have paid out $38M under hardship relief to-date. 1452 withdrawal payments have been made with an average withdrawal of $25,024. ASIC Commissioner Greg Medcraft said that the hardship relief has been expanded to pick up special situations where the industry considers that further discretion for relief is needed. Responsible entities of funds will need to apply to ASIC for a variation to their existing hardship relief. Existing hardship grounds Existing hardship relief (which continues in operation) applies where the member is able to satisfy the operator that they meet one of the following criteria: Where the member is unable to meet reasonable and immediate family living expenses. On compassionate grounds (e.g. medical costs for serious illness, funeral expenses or to prevent foreclosure); and In the case of permanent incapacity. Top 3. Raising the dead to pay the mortgage Here's a novel method of raising mortgage payments that will have the dead rolling over in their graves. An American widow is selling her husband's burial spot directly above film legend Marilyn Monroe so that she can pay off her mortgage, Reuters reported recently. Using eBay to auction off the tomb, the listing offers a once in a lifetime opportunity to spend your eternal days directly above Marilyn Monroe, adding in fact that the person occupying the address right now is looking face down on her. The widow said she would move her husband's remains over one spot and be cremated instead when the time came, as she is more concerned with raising the money to pay off her AU$1.95M mortgage to leave it free and clear for her kids. By last Sunday the bids had reached over $3M. Top 4. Round table for green building The Federal Government took steps this week to support the efforts of sustainable building groups with the convening of a Built Environment Sustainability Roundtable. Speaking at the recent Built Environment Meets Parliament Summit, the Minister for the Environment, Heritage and the Arts Peter Garrett said that the roundtable would provide built environment industries, advocates and practitioners with a structured and direct opportunity to bring forward issues and ideas in the area of building sustainability. Read More... The Federal Government took steps this week to support the efforts of sustainable building groups with the convening of a Built Environment Sustainability Roundtable. Speaking at the recent Built Environment Meets Parliament Summit, the Minister for the Environment, Heritage and the Arts Peter Garrett said that the roundtable would provide built environment industries, advocates and practitioners with a structured and direct opportunity to bring forward issues and ideas in the area of building sustainability. "The first Built Environment Sustainability Roundtable will take place in the coming months, and I anticipate -- subject to demand -- twice yearly after that", Peter Garrett said. "In the meantime, we are working within the existing arrangements under the Building Code to take important steps forward." He pointed out that on the residential front, new homes built in Australia will have to be constructed to a six-star energy efficiency standard or equivalent by May 2011. "Of course, buildings don't exist in isolation -- they sit alongside other buildings within neighbourhoods, within suburbs and cities", he said. "Just as the structures we build now will be with us for 50 or even 100 years, the precincts and neighbourhoods we plan and redevelop and the infrastructure that services them will define our environmental impact for decades." The Minister applauded the strong leadership and creative thinking demonstrated by Australia's built environment sector on the issue of tackling climate change. "Your sector has true champions of sustainability -- in the Green Building Council of Australia, the Australian Sustainable Built Environment Council and the recently formed Energy Efficiency Council to name but three -- recognising that not only is climate change an urgent challenge, but one that presents vast opportunities for growing new industries, for sustainable innovation and for getting ahead of the curve", Peter Garrett said. Top 5. Take advantage now Unique economic factors are offering Australians a rare opportunity to gain a stronger footing on the property ladder, according to mortgage broker Mortgage Choice. Decades-low interest rates, increased household wealth and improved affordability are helping potential buyers find it easier to enter the market while putting extra funds into the hands of property owners. Read More... Unique economic factors are offering Australians a rare opportunity to gain a stronger footing on the property ladder, according to mortgage broker Mortgage Choice. Decades-low interest rates, increased household wealth and improved affordability are helping potential buyers find it easier to enter the market while putting extra funds into the hands of property owners. Property enthusiasts are being urged to take advantage of the current economic situation by cutting time off their loan term and money off their loan debt. Mortgage Choice senior corporate affairs manager, Kristy Sheppard suggests borrowers should think of the economic downturn as an opportunity to get ahead with their mortgage. "Interest rates this low won't last forever", Ms Sheppard says. "By increasing the amount paid into a loan, borrowers can benefit from a reduced loan term and less interest paid over its lifetime. "Contributing extra lump sums will achieve the same result." Ms Sheppard suggests that repaying a mortgage at a level higher than necessary will create a financial buffer and help ensure borrowers are prepared for when interest rates inevitably rise, potentially reducing the risk of mortgage repayment arrears. "If you're saving towards property ownership or already maintaining a home loan, making extra contributions throughout the year is a great to way own your property sooner." Mortgage Choice recommends the following top tips to improve your mortgage progress: Lump everything you can into your loan Making a lump sum payment (big or small) into a loan can make a substantial difference. Take a loan of $300,000 at a standard variable rate of 5.85% over 30 years. If a borrower contributed $500 from their 2009 tax return into the above-mentioned loan, it would reduce the overall term by one month and the total repayments by approximately $2,375.05. Imagine the difference that doing this every year or with a higher amount would make! More frequent repayments help Depending on the loan type and lender, a property owner may save thousands of dollars in interest by paying a loan every fortnight or week rather than monthly. For example, a borrower with monthly repayments of $2,000 will pay $24,000 off their loan by year-end (12 x $2,000). If they paid fortnightly, by splitting their monthly repayment in half and making repayments of $1,000, they will pay $26,000 (26 x $1,000) as there are 26 fortnights in a year. So, paying fortnightly allows borrowers to squeeze in the equivalent of one extra monthly repayment each year, helping to reduce the overall loan term and total repayments. Off-set your savings against the loan Loans with 100% off-set accounts enable borrowers to link a savings account with their home loan account and `off-set' or use that amount to reduce the interest accumulated on their mortgage. For example, if a borrower has $5,000 savings deposited in a full offset account, then on the previously mentioned loan the term would be reduced by one year and they would save approximately $22,787. Note that some lenders offer partial offset only. Round up your repayments Borrowers should consider rounding up their loan repayment amount to the nearest $10, $50 or $100. If a borrower with the above mentioned loan rounded up monthly repayments of $1,770 to $1,800, the loan will be repaid approximately 14 months earlier and they will save approximately $17,400. Top 6. Swinging in vines There's something romantically nostalgic about a swing seat wrapped in vines, although it can take years for it to occur naturally. Either that or find yourself a Swing With the Plants seat by designer Marcel Wanders. The seat of the swing can be filled with soil and seeds planted inside so the vines grow up the ropes, creating a poetic resting place in either your garden or your room.

Latest Property News from Ted Hanson

No Regrets "Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover." 1. Houses up, construction down There has been an increase in the number of homes being built, yet construction industry activity generally continued to decline in July, with the seasonally adjusted Australian Industry Group/HIA Performance of Construction Index (Australian PCI®) falling by 3.1 points to 39.5. Read More... There has been an increase in the number of homes being built, yet construction industry activity generally continued to decline in July, with the seasonally adjusted Australian Industry Group/HIA Performance of Construction Index (Australian PCI®) falling by 3.1 points to 39.5. The lift in house building was not enough to offset the faster rate of decline in both the apartment and engineering construction sectors. Overall construction activity has now remained for 17 months below the key 50-point level that separates expansion from contraction. House building exhibited further strength in July with the sub index rising by 7.9 points to 51.9. Apartment building activity registered a further contraction, falling by 5.9 points to 29.4. AI Group Associate Director Economics and Research, Tony Pensabene, said that new orders in the house building sector are exhibiting greater resilience than other sectors, suggesting a continuation of housing growth in coming months. "The critical priority will be for the other parts of the construction sector to mirror the house building story, and this will require a lift in business confidence and investment and for major infrastructure projects to commence in the months ahead", Mr Pensabene said. Top 2. House prices lift confidence Confidence in the Australian economy has been given another boost with the recent news that house prices have lifted in all capital cities around the country. Figures released by the Australian Bureau of Statistics show that established house prices rose 4.2 per cent in the June 2009 quarter following four straight quarters of decline. Read More... Confidence in the Australian economy has been given another boost with the recent news that house prices have lifted in all capital cities around the country. Figures released by the Australian Bureau of Statistics show that established house prices rose 4.2 per cent in the June 2009 quarter following four straight quarters of decline. The capital city established house price index rose in the June 2009 quarter by 4.9 per cent in Sydney, 5.2 per cent in Melbourne, 2.5 per cent in Brisbane, 3.4 per cent in Adelaide, 2.7 per cent in Perth, 2.5 per cent in Hobart, 2.4 per cent in Darwin, and 3.6 per cent in Canberra. The weighted average index for project homes across Australia's eight capital cities increased by 1.5 per cent over the June 2009 quarter, to be up by 2.6 per cent in annual terms. The capital city project house price index increased in the June 2009 quarter by 2.1 per cent in Sydney, 2.2 per cent in Melbourne, 0.9 per cent in Brisbane, 0.5 per cent in Adelaide, 0.1 per cent in Perth, 0.5 per cent in Hobart, 1.1 per cent in Darwin, and 1.2 per cent in Canberra. Top 3. Residential building to surge There will be a dramatic increase in housing starts over the next twelve months, according to economic forecaster and industry analyst, BIS Shrapnel. The company predicts that a sharp increase of 21 per cent in housing starts, to 160,000, in 2009/10, will be the beginning of a four-year upturn for the sector. Read More... There will be a dramatic increase in housing starts over the next twelve months, according to economic forecaster and industry analyst, BIS Shrapnel. The company predicts that a sharp increase of 21 per cent in housing starts, to 160,000, in 2009/10, will be the beginning of a four-year upturn for the sector. BIS Shrapnel's Building in Australia, 2009 - 2024 report suggests that the strength of the upturn in construction will be dependent on the continuation of very low interest rates. "We are forecasting interest rates will be kept low until the expansion in housing construction is great enough to offset a deep plunge in business investment, which is only just beginning to become evident," says Jason Anderson, Senior Economist, BIS Shrapnel. "Some commentators have speculated the phasing down of first-home buyer grants over the remainder of 2009 will mark the end of the housing recovery," continues Anderson. "We certainly expect first-home buyer numbers will subside from a record number of 200,000 during calendar year 2009 and forecast a drop of 30 per cent to 140,000 first-home buyers in calendar year 2010." Critical to the equation, says BIS Shrapnel, is that demand from first-home buyers will be waning at the same time as business investment falls sharply. Business investment includes commercial building and engineering projects as well as equipment spending, and it currently accounts for 20 per cent of GDP. "The decrease in business investment is expected to wipe $32 billion, or 2.8 per cent, from GDP during 2009/10," says Anderson. "To put this decrease in context, it is equivalent to the annual value of national new housing construction." BIS Shrapnel says the decrease in commercial building activity will be particularly sharp. The national value of commercial and industrial building commencements is expected to show a cumulative decline of 55 per cent during 2008/09 and 2009/10. To compensate for the plunge in business investment the nation will depend on a strong and sustained recovery in residential building activity throughout 2009/10 and 2010/11. To stimulate housing demand from upgraders and investors low interest rates will need to persist for an extended period. If this is the case, BIS Shrapnel forecasts a further nine per cent rise in building starts, to 174,500, in 2010/11. "Standard variable housing rates are expected to remain below six per cent throughout 2010," says Anderson. "With interest rates staying very low, housing demand from upgraders and investors is expected to increase enough during the first half of 2010 to compensate for the drop-off in first-home buyers. "However, a by-product of this is that median house prices will continue to show moderate increases of about five per cent in most cities during calendar year 2010, which is consistent with long-run growth in prices. We think the Reserve Bank will be comfortable with price growth at that level." BIS Shrapnel says the housing construction upturn will have a wide range of effects across the states. New South Wales is best placed to benefit from low interest rates, given the undersupply of housing is far greater in that state. In other states, the housing upturn will be considerable, but offset by a sharp decline in commercial building. The New South Wales building sector is likely to gradually emerge as a relatively attractive location for construction workers for the first time since the Sydney Olympics boom of 2000. Top 4. Furnishings for a healthy home With many modern day ailments such as asthma, allergies, hyper-sensitivity and hyperactivity in children being linked to chemicals, maintaining a healthy home environment makes good sense. Volatile Organic Compounds (VOCs) are chemical substances found in many common household products including paints, glues, cleaning products, disinfectants, dry-cleaned clothing through to underarm deodorants, and contribute to an unhealthy indoor environment. Read More... With many modern day ailments such as asthma, allergies, hyper-sensitivity and hyperactivity in children being linked to chemicals, maintaining a healthy home environment makes good sense. Volatile Organic Compounds (VOCs) are chemical substances found in many common household products including paints, glues, cleaning products, disinfectants, dry-cleaned clothing through to underarm deodorants, and contribute to an unhealthy indoor environment. Sounds dire, doesn't it? There are just three easy steps, however, to minimising the effects of chemicals in your home, and they are keeping it clean, well-ventilated and avoiding harmful chemicals wherever possible. Avoid using air fresheners, as they actually contaminate the air with (usually) synthetic fragrance - the best way to freshen air is to open a window Place healthy indoor plants around the house to absorb VOCs and other pollutants Choose natural furnishings and finishings such as untreated cotton, linen, canvas, hemp, wool, silk, rayon, feathers, down, latex rubber, linoleum Build and renovate using natural materials such as plantation or recycled wood, stone, clay, steel, brick, glass Finish surfaces with natural oils, waxes and plant-based, non-toxic paints and varnishes Buy and use recycled items where possible. Top 5. Hotdog vendor in a pickle In America, homeowners aren't the only ones getting burnt by overpriced real estate. A US hotdog vendor has now found himself in hot water over sky high rent, losing his spot outside the Metropolitan Museum of Art because he couldn't pay the monthly bill of AU$64,596. NY Daily news reports the man had agreed last year to pay almost $776,525 annually for rent - including the right to sell food and drinks from carts on either side of the iconic steps. A worker at one of the carts told the paper it brought in just $1,200 - $1,800 a day, an amount not enough to pay the rent let along cover costs and turn a profit. The vendor was $374,144 behind on rent when the eviction notice was issued. Top 6. Fold up vases With spring just around the corner, flowers across the country are budding in anticipation. Keeping fresh cut flowers around the house is a great way to brighten a room and freshen the air; however, vases take up cupboard space while they're not in use and are vulnerable to being knocked over by pets in curiosity (or is it animosity?). Vazu expandable vases are made from strong polymer materials that take shape when you fill them with water. Available in a large range of designs and shapes, the flexible vases will tuck away in a drawer when not being used and won't fade, scratch or break, even if a furry friend knocks them over.

Latest Property News from Ted Hanson

Doubt.....What doubt? There seems to be a self uncertainty that builds up in the mind every time one makes a mistake or fails to accomplish a task, and with every successive blunder the uncertainty grows stronger until one doubts one's ability to do anything right. Being human we are host to a number of frailties, each one of which disturbs and depresses us, and makes us doubt our worth. We are not a mechanically precise machine, we are a bundle of nerves which often tangle and get jangled, but are capable of amazing performance. We have more strength than we believe, there is more fight within us than we know, and far more potential than we could ever call forth or even dream of being possible. Never doubt yourself. 1. OCR steady at 3.0 per cent As was widely predicted, the Reserve Bank decided this week to leave the Official Cash Rate unchanged for the fourth month in a row. In his statement announcing the Bank's decision, Governor Glenn Stevens said that while there has been an improvement in both global economic sentiment and economic conditions in Australia, the most likely outcome in the near term is a period of sluggish output, with consumer spending likely to slow somewhat and investment remaining weak. Read More... As was widely predicted, the Reserve Bank decided this week to leave the Official Cash Rate unchanged for the fourth month in a row. In his statement announcing the Bank's decision, Governor Glenn Stevens said that while there has been an improvement in both global economic sentiment and economic conditions in Australia, the most likely outcome in the near term is a period of sluggish output, with consumer spending likely to slow somewhat and investment remaining weak. "Stronger dwelling activity and public spending will start to provide more support to overall demand soon, and growth is likely to firm into 2010", he said. Governor Stevens observed that housing credit has been solid and dwelling prices have risen over recent months. "The Board's judgment is that the present accommodative setting of monetary policy is appropriate given the economy's circumstances", he concluded. Top 2. Strong half year for new home sales The number of new homes sold moved sideways in June, but were still up by 13 per cent for the first half of the year, according to the Housing Industry Association (HIA). Commenting on the HIA's latest survey of Australia's largest builders, HIA Chief Economist, Dr Harley Dale said that while the modest June monthly result was weighed down by softer sales results in New South Wales and Queensland, the first half of 2009 clearly marked a healthy turnaround from the last half of 2008. Read More... The number of new homes sold moved sideways in June, but were still up by 13 per cent for the first half of the year, according to the Housing Industry Association (HIA). Commenting on the HIA's latest survey of Australia's largest builders, HIA Chief Economist, Dr Harley Dale said that while the modest June monthly result was weighed down by softer sales results in New South Wales and Queensland, the first half of 2009 clearly marked a healthy turnaround from the last half of 2008. "Sales of detached homes rose by 18 per cent over the first half of 2009, signalling a pick-up in single dwelling starts in the back half of 2009", said Dr Dale. For the month of June, detached New Home Sales increased by 1.2 per cent in Victoria, 24.2 per cent in South Australia, and 8 per cent in Western Australia. Sales fell by 4.2 per cent in New South Wales and by 9.9 per cent in Queensland. Over the six-month period to June detached home sales were up in all five mainland states with the strongest gains evident for Victoria (up by 35.2 per cent) and New South Wales (up 25.7 per cent), followed by South Australia (up 7.7 per cent), Western Australia (up 4.2 per cent) and Queensland (up 3.5 per cent). Top 3. Dwelling approvals bounce back A bounce back in dwelling approvals in June almost made up for the big fall in May as unit and townhouse developments finally show some sign of improving, according to the peak body for the building and construction industry, Master Builders Australia (MBA). MBA Chief Economist Peter Jones said that provided investors can overcome funding hurdles, the emerging signs of recovery in dwelling approvals should flow through to an improvement in residential building activity over the course of the year. Read More... A bounce back in dwelling approvals in June almost made up for the big fall in May as unit and townhouse developments finally show some sign of improving, according to the peak body for the building and construction industry, Master Builders Australia (MBA). MBA Chief Economist Peter Jones said that provided investors can overcome funding hurdles, the emerging signs of recovery in dwelling approvals should flow through to an improvement in residential building activity over the course of the year. "The housing recovery is still being threatened by fragile confidence and particularly tight lending requirements enforced by the banks, with approvals of investor-driven units, apartments and townhouses still down by a massive 45 per cent on this time a year ago", Jones said. "Strict pre-sales and other bank lending requirements are frustrating investor-driven activity and availability of finance remains a concern for builders and developers." Jones warned that systemic structural issues such as developer levies, land release and delays in the planning process still remain major challenges that could prevent an adequate supply response needed to cater for Australia's underlying demand for housing. The total number of dwelling units approved, seasonally adjusted, rose by 9.3 per cent to 11,086 in June, to be 14.3 per cent lower than the same month in the previous year. Private sector house approvals rose by 4.9 per cent to 8,385 to be down 1.3 per cent on the same month last year. The more volatile private sector `other dwellings' (apartments and townhouses) rose by 27.7 per cent in June to be 45.7 per cent lower than in June 2008. Top 4. Dutch development rides the tide King Canute knew he couldn't control the tides and it seems the Dutch have recognised the same, choosing to work with the ebb and flow rather than against. In an effort to make the best of the surrounding conditions, design house Waterstudio have developed The Citadel, the world's first floating apartment complex. Read More... King Canute knew he couldn't control the tides and it seems the Dutch have recognised the same, choosing to work with the ebb and flow rather than against. In an effort to make the best of the surrounding conditions, design house Waterstudio have developed The Citadel, the world's first floating apartment complex. Built on top of a floating foundation of heavy concrete caisson, the complex will house 60 luxury apartments, each with a garden terrace and view of the lake, a car park, a floating road and boat docks. Greenhouses will be placed around the complex, and the water will be pumped through submerged pipes, acting as a cooling source to reduce energy usage by 25%. Top 5. Keep your cool about fridge space It can be easy to create a happy, healthy environment while living with others, but sharing a fridge can be a whole different ballgame. From naturally occurring science experiments gone wrong, to ignored "this is mine, do not touch" notes, wouldn't it be easier if you could divide up the fridge into separate blocks? That's the idea behind Flatshare Fridges, a concept that landed a design student in the top nine finalists of Electrolux's Design Lab competition for 2008. Consisting of up to four stackable modules on top of a base station, each module can be further customised with add-ons like bottle openers or a whiteboard, effectively giving each housemate their own fridge without taking up the whole kitchen. Top 6. A welcome wake up call A New Zealand man found this week that wrong number phone calls aren't always an inconvenience, even in the early hours of the morning. The Waikato Times reports the Hamilton man awoke around 6.45am to answer a (misdialled) call, and while he was up, noticed smoke in the air. Investigating further he found a heater alight, so he raced naked out into the front yard where he put it out. When he called back the `wrong' number to express gratitude for the wake up call, he found the caller - who had been trying to ring a radio station - had coincidentally been a firefighter for eight years.