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1. Studies show that if a cat falls off the seventh floor of a building it has about thirty percent less chance of surviving than a cat that falls off the twentieth floor. It supposedly takes about eight floors for the cat to realize what is occurring, relax and correct itself.
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JAI ASHTON O'NEILL Mail to a friend... Know someone who likes to keep up to date with the latest in property news? Click here, enter their email address and they will receive a copy of this issue and be given the opportunity to subscribe to future issues. | Friday 16 July 2010 To rent or buy…  In the news this week, we weigh up both sides of the question; home lending gets a boost; and taking the comforts of home to a different plane... 1. 21 ITEMS OF GOOD ADVICE.....  ONE. Give people more than they expect and do it cheerfully. 2. Longer to find deposit
The second annual Bankwest "First Time Home Buyer Report" shows that housing affordability has continued to worsen over the past year, with first home buyers needing 4.5 years to save for a house deposit, up from 3.7 years. It is now taking more than four years for first home buyers to save for a house deposit, according to a new report. The second annual Bankwest "First Time Home Buyer Report" shows that housing affordability has continued to worsen over the past year, with first home buyers needing 4.5 years to save for a The report also found thousands of young Australians have been forced to rent or live at home with their parents for an extra ten months as they pull together a house deposit. The research shows a first time buyer couple needs to raise an $85,800 deposit to purchase the median house, and $76,900 to buy a median unit. There are 26 Local Government Areas (LGAs) - in Sydney, Melbourne and Perth - where it would take a first home buyer couple on average earnings more than a decade to save a house deposit. Bankwest Retail Chief Executive, Vittoria Shortt said this was the stark reality of a strong Australian property sector. "Increasingly we are seeing an entrenched two-speed market emerging with property owners on one side and a growing army of first home buyers seemingly locked out on the other," Ms Shortt said. She added that first time buyers now need on average four-and-a-half-years to save a conservative 20 per cent house deposit. This drops to four years for first time unit buyers. 3. Booster shot for housing finance The number of loans taken out by homeowners and investors to buy homes rose in May, according to figures released this week by the Australian Bureau of Statistics. Loans for the purchase of new dwellings grew by 4.7 per cent in May; however, the number of loans for construction fell by 2.2 per cent. Overall, loans for new housing dropped by 0.2 per cent to be 20 per cent lower than six months ago. The number of loans taken out by homeowners and investors to buy homes rose in May, according to figures released this week by the Australian Bureau of Statistics. Loans for the purchase of new dwellings grew by 4.7 per cent in May; however, the number of loans for construction fell by 2.2 per cent. Overall, loans for new housing dropped by 0.2 per cent to be 20 per cent lower than six months ago. Over the 3 months to May 2010 total number of housing loans dropped by 26.2 per cent compared to the same period in 2009. Loans for first home buyers were down by 56 per cent, while trade-up buyer loans fell by 10 per cent. The Housing Industry Association (HIA) estimates that the underlying demand for housing in 2010 is currently 190,000 dwellings per year. HIA Chief Executive - Association, Graham Wolfe, warned this week, however, that housing starts in 2010 are forecast to total only 165,940. In seasonally adjusted terms, the total number of owner-occupier loans in May 2010 increased 2.3 per cent in New South Wales, 0.4 per cent in Victoria, 3.8 per cent in Queensland, 1.9 per cent in South Australia, 0.3 per cent in Tasmania, and 7.7 per cent in the Northern Territory. Total owner-occupier loans fell by 3.8 per cent in Western Australia and by 2.4 per cent in the ACT. 4. Put herbs to work in your garden
Herbs can be grown in gardens, pots, tubs, in full shade or sun so are easy plants for any conditions. It is simply a matter of choosing the right ones for your situation and needs. Growing herbs makes sense in so many ways. They smell good, taste (possibly) even better, are incredibly easy to grow, and although a herb garden may be a relatively small landscaping addition, studies have shown that well maintained and landscaped gardens can increase your home's value considerably. Herbs can be grown in gardens, pots, tubs, in full shade or sun so are easy plants for any conditions. It is simply a matter of choosing the right ones for your situation and needs. Many, such as rosemary, lavender, thyme, lemon grass and wormwood, require very little water. In fact, they not only thrive in dry conditions but are more effective and stronger when their essential oils are not diluted by over-watering. Lemon grass is a fragrant alternative to other decorative grasses which have become popular with landscapers in the past few years. It grows in clumps so will not spread too far, but is easy to propagate and just needs regular clipping to flourish (pop the clippings into a pot of hot water for a refreshing tea). Unlike many other plants, the foliage of herbs is always fragrant. Who can walk past a row of lavender bushes along a path without touching them to release the perfume? Other herbs that can be grown as aromatic shrubs or small trees include the ever-popular rosemary or the pungent lemon verbena, both of which can be used in teas and cooking. For visual contrast in the garden, try planting a few silver-leaved wormwood or southernwood bushes. These plants are drought-resistant and require very little attention, except for regular pruning to make them flourish. When it is time to trim them, dry the leaves well and place them (with some of your lavender) in bags in drawers or cupboards to keep away moths. If you want to grow herbs for cooking, eating or drinking, there are a few easy essentials, such as mint, parsley, basil, chives and thyme. These will grow happily in the garden or pots on a balcony - the main thing is to have them in easy reach of the kitchen. Some, such as parsley or the mint family, prefer shade and lots of water, while others thrive in hot, dry conditions. It is best to experiment - the plants will soon let you know if they are not happy where you've put them. Other culinary herbs such as coriander are notoriously difficult to grow consistently and tend to `go to seed' quickly. To grow these successfully, try putting them in a place where they can drop their seeds and grow again - after a while you will find you have a constant supply. Many nurseries now stock perennial strains of the more popular annuals like basil and coriander. They tend to be hardier, woody shrubs but will grow all year round as long as the flowers are cut back when they appear. For those more serious gardeners amongst us, herbs are often used as `companion' plants, as their essential oils repel insects and encourage growth in certain plants. Basil grown amongst tomatoes makes them healthy and increases yield; pyrethrum, garlic and chives defend roses from aphids; marigolds are said to kill root nematodes in the soil. Fennel, pennyroyal and chamomile can all be used to deter flies, mosquitoes and ants. Remember when you cut them back, that most of your herbs can be dried for use in fragrant sachets, teas, or as seasonings year round. Hang them up or place them on paper in a warm dry room out of the sun and wind until they are brittle and completely dry. Then put them into bags to hang in your closets, or store them in airtight jars until you are ready to use them in the kitchen. 5. Is it time to leave the rental roundabout? Rising rents and lack of available rental properties is a cause of concern for many Australians. Could buying a home instead provide a solution? It may not be as difficult as it seems. Buying your own home requires careful thought and planning, covering a wide range of aspects including what, where, how and how much? When considering the option of buying versus renting, there are a lot of issues to take into account. Rising rents and lack of available rental properties is a cause of concern for many Australians. Could buying a home instead provide a solution? It may not be as difficult as it seems. Buying your own home requires careful thought and planning, covering a wide range of aspects including what, where, how and how much? When considering the option of buying versus renting, there are a lot of issues to take into account. Mortgage broker Mortgage Choice discusses the rent-versus-buy equation. Company spokesperson Kristy Sheppard says that, with housing affordability concerns rising, it is no surprise many renters turn their back on home ownership. "However, those who are determined to achieve their goal and know they need to be dedicated to the cause over a period of time often find it is attainable", she adds. "Owning a home is not, and was never, a matter of instant gratification. It's a serious commitment. "Tenants who are keen to escape the rental roundabout need to contemplate their future wants and resist temptation to live only in `the now'. With the housing undersupply issue looking to continue while population growth and rents rise, rental vacancy rates fall and housing prices trend upwards, some may find that now is a good time to set a property purchase plan in action. "The median asking rent in the March quarter for a residential dwelling other than a house - such as flats, units, town houses, etc. - in Canberra, Australia's most expensive capital city was $445 per week or $1,928 a month*. For Sydney it was $1,777 per month and for Darwin it was $1,681. Brisbane and Perth stood at $1,517, while Melbourne was at $1,473 and Hobart was at $1,170. The average Adelaide `other dwelling' rented for $1,127 per month. "In comparison, a 30-year $300,000 home loan at 7% is $1,996 per month in repayments. "Of course, ownership costs such as land tax/strata fees, council rates, maintenance and water consumption need to be taken into consideration, but the similarity in cost between monthly rent and loan repayments within some areas is encouraging for potential buyers. "Today, lenders have much tighter home loan approval assessment criteria but there is still a broad range of options available. For example, more buyers are taking up family equity loans. These allow a borrower to retain sole ownership while having the financial assistance of a family member acting as a loan guarantor by offering their property as security. "The trend of purchasing property with another via co-ownership is another option that helps borrowers enter the market sooner than expected. "A reputable mortgage broker can help would-be buyers explore a wide variety of lenders and loan options and give guidance on the entire process of becoming a mortgage holder. "If the thought of paying your own mortgage instead of your landlord's is appealing, then save hard, get professional assistance, make the commitment and stick to it!" *REIA Market Facts Report March quarter 2010 6. What's buried out back
After traipsing through a field with a metal detector, a UK man has found a stash of over 52,000 Roman coins in a field, the BBC reported recently. When the detector made an irregular noise, the man dug 35cm into the earth to find one tiny bronze coin, leading to a further discovery of more than 52,000 - one of the biggest coin finds in Britain. 7. On a different plane, entirely It's not often you get a good night's sleep on a plane, but Jumbo Stay has big plans to change that with a decommissioned Boeing 747-200 jumbo jet, a grassy hill near Sweden's Stockholm airport, and 25 comfortable rooms. The recycled hulk now offers accommodation for one to three adults in each quarter, with a dormitory option available for backpackers and traveling groups, all with separate shower and toilet facilities. There's also a luxury suite where the cockpit used to be, offering panoramic views of the airport. |
It is now taking more than four years for first home buyers to save for a house deposit, according to a new report.
Growing herbs makes sense in so many ways. They smell good, taste (possibly) even better, are incredibly easy to grow, and although a herb garden may be a relatively small landscaping addition, studies have shown that well maintained and landscaped gardens can increase your home's value considerably. 
You may laugh at the thought of a friend or family member heading out into the backyard with a metal detector, but you never know what treasures may be lying around.
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