Latest Property News from Ted Hanson

• Friday 13 November 2009 Quote of the week "Your living is determined not so much by what life brings you as by the attitude you bring to life; not so much by what happens to you as by the way your mind looks at what happens." ~Lewis L. Dunnington~ ... 1. New homes going up A recovery in new home building is underway, according to building approval figures released this week by the Australian Bureau of Statistics (ABS). The number of total dwellings approved rose 2.7 per cent in September 2009 following a fall last month. Detached house approvals hardly changed (up 0.3 per cent) in the month of September, but have increased by 18.6 per cent over the year since September 2008. The number of `other dwelling' approvals increased by 14.6 per cent in the month of September to be up by 17.5 per cent over the quarter but are still down on last year's figures. The number of seasonally adjusted residential dwelling approvals increased in September by 5.1 per cent in Victoria, 5.9 per cent in Western Australia, and 3.4 per cent in Tasmania. Approvals fell by 1.9 per cent in New South Wales, 1.4 per cent in Queensland, and 3.9 per cent in South Australia. The trend number of approvals fell by 2.1 per cent in the Northern Territory but rose 1.2 per cent in the Australian Capital Territory. Top 2. A holiday home shaped like an origami Klein Bottle and situated in Australia's Mornington Peninsula, has this week won the World's Best Home award at the World Architecture Festival Awards (WAF Awards) 2009. Winning prestigious awards is not new to the unique house, which features a living room perched on a canopy of trees. Last year it was declared the winner of one of Australia's top architecture awards - the Robin Boyd Award for Residential Architecture - Houses. The so-called Klein Bottle House was designed by the Melbourne practice McBride Charles Ryan. Top 3. 'Green loans' for homeowners One of the `Big 4' banks announced this week it will introduce interest-free "green loans" worth up to $10,000 to homeowners wanting to make their homes more sustainable. The Federal Government's Green Loans Program was introduced in July 2009 to assist families to install solar, water saving and energy efficient products to reduce greenhouse gas emissions. So far, however, only building societies and credit unions have signed up to participate. The program includes a free home sustainability assessment, which is the first step in qualifying for an interest-free loan of up to $10,000 over four years. A qualified home sustainability assessor visits the household and investigates energy and water consumption patterns to identify actions that households can take to save energy and water. Each household then receives a tailored report outlining recommended actions ranging from small things like switching to energy efficient light bulbs to larger scale changes such as installing rainwater tanks and solar panels. Households may wish to access a green loan to make the larger scale improvements. Westpac's new Green Loan will be available from 16 November 2009. It includes no monthly service fees, establishment fee or prepayment fees and it is interest free, repaid over a maximum of four years. Top 4. Last minute rush fuels home loan surge The number of loans issued for the construction of new homes surged again in September, as first home buyers raced to beat the October 1 deadline for the reduction in the First Home Owner Boost. Housing finance commitments for first home buyers saw an increase of 14.5 per cent from August to September. The total number of dwellings financed for owner occupiers, seasonally adjusted, rose by 5.1 per cent in September, to be up 32.7 per cent on September last year. The home building industry looks healthier, with an increase of 8 per cent over the month in the number of loans issued for the construction of new dwellings. This figure is up 83.9 per cent on the same month last year. The total number of seasonally adjusted loans for owner-occupiers (net of refinancing) grew by 6.2 per cent in the month of September 2009 but was up by 44.2 per cent compared to September 2008. The number of loans for `new' dwellings (construction/purchase of new dwellings, combined) grew by 5.5 per cent over the month, to be up 75.8 per cent on the same month last year. The number of loans for the purchase of new dwellings was down just 0.6 per cent over the month to be up 57.5 per cent up on the same time last year. The number of loans for the purchase of established dwellings rose by 5.0 in September, to be up 20.4 per cent on the same time last year. Top 5. They paved paradise... An Irish man has been awarded compensation after his home disappeared under a car park. BBC News UK reported recently that Neville Presho, a film-maker who had purchased the 150-year-old house overlooking a harbour on Tory Island before moving to New Zealand, returned to find no trace of the six-bedroom home. Where the home had previously been, however, lay a car park and a septic tank for a neighbouring hotel. The court heard that an unexplained fire had damaged Mr Presho's home a year prior to his return, and over the following months the rubble was cleared and the new developments made. The judge ruled the hotel's owner should pay the damages and also be liable for costs, entitling Mr Presho to a new house or its equivalent market value. Top 6. Rainy day perspective One of the things we love about rainy days, alongside the puddles and effortless garden watering, is watching the rain running down the windows misshaping the world outside. Holding this sentiment, two minds from design collective Droog have created Windowdrops - transparent `water drops' made from self-adhesive PVC that can be stuck on windows and mirrors, morphing the view and creating interesting reflections. They come in packs of 8 drops, the smallest around 3cm and the largest around 8cm long. Top