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Friday 19 February 2010 Random Acts of Kindness Week 15 - 21 February Random Acts of Kindness Week ends Sunday and it focuses on the spirit of hope and goodness. It is a springboard for action. A time to be open, to act upon thoughts of generosity that arise spontaneously from your heart. Just notice what happens as kindness ripples out! The week is an invitation for individuals, schools, community groups, service clubs, businesses, health institutions, schools and churches to join hearts and hands to create a better world. A kind act is "random" when it is unexpected-done simply out of the will to extend goodness, person to person, without expecting anything in return. Join in the "kindness revolution" today and make a positive difference on this planet that we all call "home." 1. Lending still high despite falter Lending for both new and existing dwellings fell by 2.8 per cent in December 2009, according to figures released by the Australian Bureau of Statistics. The number of loans for the purchase of established dwellings fell by 5.7 in December, to be down 5.1 per cent on the same time last year. The number of loans for the construction of dwellings fell by 6.4 per cent in December, to be up 58.4 per cent on the same month last year. The number of loans for the purchase of new dwellings rose by 3.0 per cent in December, to be up 7.5 per cent up on the same time last year. The building industry is philosophical about the data. Peter Jones, Master Builders' Chief Economist, observed that finance for first home buyers has fallen back down to levels seen before the First Home Owner `boost' scheme was introduced. "Although the recent correction in demand for housing finance comes after a strong growth phase, the housing market will now need upgraders and investors to fill the gap left following reversal of the bring-forward of first home buyer demand associated with the `boost'", he said. The number of first homebuyer commitments fell by 7.8 per cent to 12,054 in December 2009. HIA Chief Economist, Dr Harley Dale, noted that the level of new home lending is still historically high, as expected given the monetary and fiscal policy stimulus that was in play through much of last year. "On a positive note, the combination of federal and state government grants for new housing saw the share of lending for new housing increase significantly, particularly in Victoria", Dale said. "By making new homes more attractive for first home purchasers, the additional incentives have provided a significant boost for new dwelling starts. "The tilting of first home grants to new dwellings has lifted both the demand for new homes and the level of new home construction." In seasonally adjusted terms the total number of owner-occupier loans fell in every state and territory in December 2009 with the exception of the Australian Capital Territory. The number of loans fell in New South Wales (-6.7 per cent), Victoria (-4.9 per cent), Queensland (-5.6 per cent), South Australia (-6.4 per cent), Western Australia (-2.7 per cent), Tasmania (-4.3 per cent), and the Northern Territory (-6 per cent). The number of loans increased by 0.5 per cent in the Australian Capital Territory. 2. Set sail safely It is no wonder shade sails have become popular with Australians wanting to lengthen the amount of time spent outdoors in summer - they are effective, less expensive than most other fixed forms of shading, and look amazing. Care should be taken, however, to ensure that your new shade sail is an improvement and not an impediment, warns the Building Commission. While it may seem a quick and easy way to create an outdoor room, careful planning before installation is necessary to avert possible damage from rain and wind. The Commission cites the example of a consumer who recently had his entire home contents damaged by flood as a direct result of outdoor sailcloth. The shade-sail was properly anchored in place, however the positioning of its brackets meant rainwater run-off to the gutters on the garage roof could not cope with a heavy downpour. So how to avoid such a calamity? Like any project, it is important to have a plan. Depending on the size of the shade-sail, its location and purpose, it may require a building permit or a planning permit. It's worth checking with your local council. For standalone shade sails, the size of the sail, the type of soil into which the posts are being concreted and the height of the posts will determine the depth of concrete footings and the size posts required. As it is a fixed location, be aware of the proximity of overhead powerlines and trees. For shade-sails that require anchorage, the structure to which the sailcloth is fixed should be considered to ensure it is secure and safe. A shade-sail in windy conditions can generate a lift with enough force to rip away a post or damage a structurally inadequate building to which it is anchored. The sailcloth can also tear in high winds if not properly erected. While damage to the shade-sail is expensive and inconvenient - even more so is the damage it may do to the structure it's attached to - which is often a home's balcony. Six per cent of Australian homes have a timber balcony and around two per cent of these are unsafe. Most at-risk are houses built between 1970 and 1990, when balcony development increased and there was some use of inappropriate timber and construction without building approval. So it is often the case that the balcony to which the shade-sail is attached may not be structurally sound. While do-it-yourself home improvements can be a success, sometimes the adage "safe as houses" is put to the test. However, there are some risk factors that you can check before attaching or anchoring a shade-sail to a balcony, pergola, building or garage: Look for pooling of water on the building's surface Check timber boards, posts and beams for rot Inspect brackets and bolts for signs of rust Ensure materials are not rotted, corroded, loose or unstable. If you are in doubt about the soundness of the structure to which a shade-sail is attached, always seek the advice of an expert, such as a building surveyor, registered building practitioner or a licensed or registered plumbing practitioner the water shedding capacity for a roof. 3. Make Grant real, says REIA The First Home Owner's Grant needs another boost to "make it real" in today's marketplace, the Real Estate Institute of Australia (REIA) said this week. The REIA is urging the Federal Government to review the amount of the First Home Buyer's Grant (FHOG) in the lead up to this year's Budget, so that it maintains its relativity to when it was introduced in 2000. REIA President, David Airey said the Institute is calling on the Government to increase the FHOG to $15,000, for both new and established homes, then to index the grant to median house price movements annually. When the FHOG was introduced in July 2000, the Australian quarterly weighted average median house price was $220,443. The Australian weighted average median house prices in the most recent quarter for which data is available, September 2009, was $481,310. "The FHOG is one of the most important housing policy instruments in assisting first home buyers with housing affordability but it needs to be relative to the current market", Mr Airey said. "The median house price has increased by more than $250,000 in less than 10 years and the grant has not maintained relativity." The contribution of the grant towards the purchase price has more than halved from 3.2 per cent to 1.5 per cent over the period. As part of a package of measures to address the affordability problem, REIA has proposed that the Commonwealth Government establish a scheme which would encourage young Australians to contribute to voluntary superannuation by allowing access to these resources for the purposes of raising a deposit for a first home. The scheme would be an adjunct to the First Home Savers Account but would allow flexibility for the saver to decide whether all or part of the voluntary superannuation payments was needed to augment the home purchase. "Although the Boost has helped the participation of first home buyers in the market, it was a short term measure and we need to be looking at long-term solutions", concluded Mr Airey. 4. Fixed rate loans hit all-time low Demand for fixed rate home loans across the country has dropped to a record low, according to loan approval data for Australia's largest independently-owned mortgage broker, Mortgage Choice. In December 2009, fixed loans accounted for just over 1 per cent of the company's new home loan approvals - a level not seen since it began recording such data in January 2003. Mortgage Choice senior corporate affairs manager, Kristy Sheppard noted that Australians taking out home loans are looking at the added expense of fixing the interest rate and deciding that at the moment it's just not worth the extra dollars. "When you look at the comparative cost between fixed and floating rates, it's not at all surprising that almost 99 per cent of our new residential borrowers are choosing variable home loans", Ms Sheppard said. "Our lender panel's average basic variable interest rate is around one and a half percentage points lower than for the average three-year fixed rate loan, the most popular fixed loan. This equates to $286 per month extra in repayments for a 25-year, $300,000 loan at 7.7 per cent versus 6.2 per cent." "It appears most new borrowers are looking at the difference between the two loan types and thinking they feel more comfortable paying less and riding the variable rate rollercoaster, despite the almost-certain rate rises coming up this year." 5. Live where you train Golfers have long been able to live where they play, now it's the triathletes' turn to live in a setting that meets the needs of their athletic lifestyle. Residents at the luxury Laurel condominium building in New York have exclusive use of its Triathlon Training Center with its 50-foot infinity edge lap pool with a glass mosaic tile interior and Botticino marble deck. The running, swimming and biking circuit has a custom-designed resistance pool with adjustable current levels and treadmills with magnetic brakes to provide road-like resistance. 6. Crime doesn't pay the mortgage Owning a home may be the great American dream, but the lengths to which some will go to achieve it can seem rather more nightmarish. According to the Tampa Bay Tribune, a 73-year-old local man opted recently to take matters into his own hands to avoid forfeiting on his mortgage repayments. Police have charged the man with robbing three banks, taking around AU$680 each time in order to make the payments. If convicted, he faces a maximum of 15 years in prison for each charge - longer than the length of the average mortgage!

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Friday 12 February 2010 The True Meaning of Valentine's Day Valentine's Day is almost upon us! The women are excited to proclaim their love, the men complain about overpriced gifts and single people are getting depressed. Everyone has an opinion about Valentine's Day, but who actually knows how, when and why this holiday originated? It's great that most people know it has something to do with Valentine, and a thumbs up for those who knew he was a saint, but isn't that somewhat vague? Wouldn't you want to know more about the name you use to refer to your significant other every Feb. 14? Here's one of the theories about the origin of this special day. "A Renegade Priest " Valentine was a third-century priest who served under the rule of Roman Emperor Claudius II, who prohibited young men from getting married. The emperor believed that would make them better soldiers, but Valentine continued to secretly marry young couples. He was discovered and sentenced to death. Legend has it that while in prison, Valentine fell in love with a young girl, presumably the jailor's daughter. A day before the persecution, Valentine wrote her a letter and signed it, "From your Valentine." Written by Bella Yashayev 1. Land sales and prices surge The cost of residential land continues to rise nationally, according to a new report showing the median price of raw land jumped 5.7 per cent to $181,158 in the September 2009 quarter. The report, from building association HIA and property analytics provider rpdata.com, shows a 33 per cent rise in the volume of residential land sales when compared to the same period in 2008. The HIA-rpdata.com Residential Land Report results confirm that there will be a lift in new home starts in 2010, according to HIA Chief Economist, Dr Harley Dale. "The million dollar question is whether a new home building recovery can be sustained beyond this year", Dale says. "If land is not released in a timely manner in sufficient quantity, then land prices will continue surging and the answer will be a resounding no", he suggests. Sydney remains the most expensive residential land market in the nation with a median price of $290,000. Outside the capital cities, the Richmond Tweed region in NSW is the most expensive land market (median price of $255,000), followed by the Sunshine Coast ($241,500), the Gold Coast ($241,500) and the Illawarra region in NSW ($192,500)." Conversely, there are still thirteen markets across Australia where median land prices sit below the $100,000 mark. The least expensive market is the Murray Lands region in South Australia (median price $69,500), followed by Mallee in Victoria ($70,000), Mersey Lyell in Tasmania ($78,000), and the South East and Northern regions of South Australia ($85,000). 2. More houses approved in December Australia's builders are soon going to be even busier, with figures released this week showing more approvals for new homes in December 2009. Investment housing approvals rose by almost ten per cent, according to the Australian Bureau of Statistics' data. The total number of dwellings approved in Australia rose 2.2 per cent with Tasmania (up by 21.7 per cent) and Victoria (up 11.1 per cent) recording the largest increases. Private sector houses rose 3.1 per cent in December 2009 following a fall in November. Improved figures were recorded in Victoria (a rise of 4.6 per cent), Queensland (up 2.2 per cent), South Australia (0.5 per cent) and Western Australia (3.3 per cent). The number of approvals for private sector dwellings other than houses rose by 9.1 per cent in December. The value of approved new residential buildings increased by 3.0 per cent. 3. In love - with two homes Valentine's Day is traditionally a time for lovers to declare their intentions and (hopefully) make a choice between available suitors. But what happens if you're house-hunting and the object of your desire is not one house but two? If you do find yourself in this awkward situation, take out a pen and a blank piece of paper for each house then compare the following... * The houses. If you haven't already done so, make a list of all the things you want in your new home and compare how each house stacks up against your wish list. * Drawbacks. Likewise, make a list of the things you don't want and compare this list with each house to determine how much of a negative impact each will have. * How do the houses compare with others in the suburb? While you might like to have the biggest house in the neighbourhood, when it comes time to sell you may find that the lower value of neighbouring homes will shrink your home's value, so be careful. * The suburbs. If the two final contenders are in different suburbs look carefully at the facilities each has to offer your family. If you have kids and being close to a park is important, you'll want to consider that. How close is each home to shops, restaurants, church or other services that you use on a regular basis? Do homeowners in the area landscape and maintain their homes nicely? How long will your commute to work be? * Access to schools. If you have school aged children, you'll either want to consider the reputation of the local schools or be located in an area where it's easy for your children to travel to their existing school. Visit local schools and talk to teachers and parents. * Crime. Visit the local police and enquire about crime in each suburb. You might find crime to be more prevalent in one area than another. * The vendors' situations. If you don't know already find out how long each home has been on the market and the reasons why the vendor is selling. Typically the longer a house has been on the market, the keener the seller will be to listen to an offer. Conversely, if the house has been on the market for just a couple days, the sellers may not accept lower offers. As you consider all these factors, it could become clear that one house is more enticing than the other. Or, you may find the houses are still equally appealing. If that is the case, be sure you look at the homes more than once and preferably at different times of the day. This way you'll get a better idea of how each home looks and feels in the morning versus late afternoon or evening. You may even notice something you didn't the first time around - something that could sway you one way or the other. 4. Brighter year for building activity A national survey of the construction and development industry shows that there has been a significant increase in respondents predicting renewed activity in the multi-unit residential sector for 2010. The 10th Construction Sentiment Index, produced by global construction consultants Davis Langdon, shows 56 per cent of respondents expect the multi-unit residential sector to make a major contribution to overall construction activity nationally in the next 12 months. This is up from only 39 per cent expecting this sector to contribute to growth 12 months ago. The index has tracked improving industry sentiment since it reached its lowest point of 51 in February this year, but at the current level of 66, it is still well off its peak of 142 recorded in late 2007. "The key findings of the 10th survey show that costs have emerged as one of the top three problems cited, planning pressures seem to be easing, finance is still hard to secure and overall sentiment continues to improve," says Rachel Kelloway, Davis Langdon's national research manager. Other key findings of the survey include:- 54 per cent of respondents now feel that the industry is experiencing a skills shortage, a 10 per cent increase on the last survey. Shortages worsened or remained steady across most trades with the three worst affected areas being plumbers (up 6 per cent to reach 11 per cent); tilers and carpenters (both up five per cent to reach 10 per cent and 13 per cent respectively). Poor succession planning and an insufficient number of apprenticeships were named as long-term key explanations for industry shortages. The length of time it takes to obtain planning approvals remains an issue, with 64 per cent of respondents citing excessive or protracted timeframes. However, there has been an improvement in this area with 71 per cent expressing concerns in the last survey three months ago. For those impacted by planning problems the delays appear to be increasing. In September, 88 per cent said timeframes were protracted by 30 per cent or more, whereas in this survey that figure has jumped to 91 per cent. Access to finance remains the number one obstacle in the development process, but respondents expect this situation will begin to ease in the year ahead. Twenty per cent of respondents said they were attempting to secure finance currently and of those 59 per cent were seeking $100 million or more. 5. Bridging the gap with education One of the four winners of the 2009 Architectural Review's Emerging Architecture Awards has managed to enliven an old community, bridging the gap between past, future and two castles. Located in a remote Chinese village, architect Li Xiaodong has created a school that forms a bridge over a creek between two historic castles. The school contains two classrooms where children can learn about traditional and contemporary culture, but which can also be used as a theatre and play area by villagers. A narrow walkway has been suspended underneath the school as a secondary means of crossing the creek - perhaps for those wishing to skip class. 6. More than just a facelift Have you ever slept at the office and wished there were better amenities? Seven office buildings that make up London's 50,000 square foot Regency Terrace are getting more than just a facelift - they're soon to be converted into a 10-bedroom mansion. According to the UK Telegraph, the renovations will make the home the largest in London, and if it is sold for over the AU$179M they're asking, it will also claim the title of London's most expensive home. The plans include ten huge bedroom suites, several vast reception rooms, a basement leisure complex including a cinema, gym and swimming pool, a 40-ft roof garden complete with a sliding ceiling and view over Regent's Park, plus two additional staff houses.

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Friday 05 February 2010 Giving when it counts.... Many years ago, when I worked as a volunteer at a hospital, I got to know a little girl named Liz who was suffering from a rare & serious disease. Her only chance of recovery appeared to be a blood transfusion from her 5-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 little 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 her." As the transfusion progressed, he lay in bed next to his sister and smiled, as we all did, seeing the color returning to her cheek. 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 little boy had misunderstood the doctor; he thought he was going to have to give his sister all of his blood in order to save her. - Writer unknown - 1. House prices soar House prices around Australia are continuing to increase, according to figures released this week by the Australian Bureau of Statistics. The median house price across the eight capital cities jumped 5.2 per cent in the December quarter last year and 13.6 per cent over the year. Melbourne recorded the biggest increase of 6.8 per cent for the quarter, and 19.7 per cent for the year. Prices rose in all other capital cities in the December 2009 quarter, particularly in Sydney (a rise of 5.0 per cent) and Perth (up by 5.7 per cent). There were also positive contributions from Brisbane (up 3.8 per cent), Adelaide (up 2.1 per cent), Canberra (3.6 per cent), Hobart (4.3 per cent) and Darwin (up 4.9 per cent). Annually, house prices increased by more than one-tenth in most other capital cities. In Darwin, prices were up by 13.6 per cent, Sydney 12.8 per cent, Canberra by 12.4 per cent, Perth 11.5 per cent, Hobart 11.0 per cent and Brisbane 10.9 per cent. Adelaide prices rose by 5.1 per cent. 2. Global financial what? A survey has found the Global Financial Crisis is a distant memory for most Australians, who now believe the housing market is set to take off - again. "A surprising 73 per cent of respondents expect house prices to rise, which is the highest proportion for more than three years," said Phil Naylor, CEO, Mortgage and Finance Association of Australia (MFAA). The MFAA/Bankwest Home Finance Index canvassed the opinion of 850 people on a range of issues relating to the economy and housing market. "Confidence in the housing market is not only pre-GFC - it's back where it was during the height of the housing boom," Mr Naylor said. "But there are still some clouds on the horizon, with recent interest rate increases negatively impacting households." Mr Naylor said that 15.9 per cent of respondents are struggling to meet repayments - which is up from only 11.7 per cent in May 2009. The survey found it was in the former boom state of Western Australia that most respondents claimed to be struggling in their repayments (25 per cent). The least number of people struggling to meet repayments were in NSW (20.6 per cent). Head of Mortgages at Bankwest, Dean Gillespie, said the survey revealed a reversal of fortunes in WA and NSW. "The survey suggests that Australia's two-speed housing market is alive and well," Mr Gillespie said. "It would appear that when it comes to the housing market and perceptions of economic conditions, NSW is leading the charge for the first time in years." Mr Gillespie said that respondents were divided about whether it is a good time to buy a new home, with 49.7 per cent thinking it is a good time. "Respondents from Queensland (41.4 per cent) were the least likely to think now was a good time to buy, but South Australians were more optimistic with 63.6 per cent saying it was a good time to buy", Gillespie said. He added that when it comes to other cost of living pressures, borrowers said the cost of food was of greatest concern. "Over the last year there has been a reversal in burden of food versus fuel costs. People are saying that food prices are now taking a bigger bite out of the family budget", Gillespie concluded. 3. Rates unchanged There was an audible sigh of relief this week when the Reserve Bank opted to leave the Official Cash Rate unchanged at 3.75 per cent. In a statement announcing the decision, Governor Glenn Stevens commented that while the Reserve Bank has chosen to raise rates slightly over the past three consecutive months, lenders have not been so conservative in their increases, hence the need for a `wait-and-see' approach. "Lenders have generally raised rates a little more than the cash rate over recent months and most loan rates have risen by close to a percentage point", Governor Stevens said. "Since information about the early impact of those changes is still limited, the Board judged it appropriate to hold a steady setting of monetary policy for the time being." Interest rates to most borrowers nonetheless remain almost half what they were a year ago. Governor Stevens concluded that if economic conditions evolve broadly as expected, the Board considers it likely that monetary policy will, over time, need to be adjusted further in order to ensure that inflation remains consistent with the target over the medium term. 4. The world's strangest places to live The town of Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch in Wales has the longest village or suburb name of anywhere in the world. But a quick diversion into the world of toponymy (the study of place names) reveals that strange place names are not restricted to Wales. New Zealand has its fair share of strange place names...try Bulls in South Taranaki; Gore in Southland and the town of Twizel in the MacKenzie Basin. Australia has Arid and Bigge in Western Australia, Avoid in South Australia, Bland and Disaster in New South Wales and Many Peaks in Queensland. Along the southern coast of England lie the Cinque Ports ("cinque" being French for five). Or you may choose to visit Redcar near the Yorkshire Moors, or perhaps Wigtown and Leek are more your style? But, probably not surprisingly, some of the strangest place names in the world are in the United States. Towns such as Cool, Frying Pan and Rough & Ready in California; Burnt Corn, Alabama; Nothing, Arizona; No Name, Colorado; Hopeulikit, Georgia; Do Stop, Kentucky; Boring in Maryland; Truth or Consequences, New Mexico; Hoop an Holler, Texas and Ware (I'm from Ware?) in Massachusetts. 5. Unwilling to ride the rising tide A British man is suing the previous owners of his home on the Thames River, with claims that the property floods up to 80 times a year. Adrian Howd told England's High Court that he and his wife were `deeply shocked' to see flood-waters creeping up the 140-foot garden of their AU$3.5M home within weeks of moving in, the UK Telegraph reports. Prior to the sale, the previous owners had confirmed the house had never suffered from flooding, although took the question to mean the bricks and mortar, not the garden. Living in the house since 2006, the Howd family has had enough of the tidal conditions that can see the garden submerged beneath 4.5 metres of water, and are seeking to have the sale rescinded, or damages to cover the loss in property value. Perhaps they should have talked to the neighbours before buying, as an elderly man next door commented he was used to the tides by now, having lived there since 1946, adding that one year his family had to use a dinghy to get to the front gate. 6. How eggciting! But is it eggspensive? It seems Murphy's Law rules when it comes to carpets, and stains are almost inevitable. So why not beat your floor to the punch and cover it up with something weird and wonderful like the Sunny Side Up shag rug. Part of a line from designer Valentina Audrito called "Le Uova di Leon" entirely inspired by the egg, the rug looks like part of a giant's breakfast - the main part is shaped like the whites of two huge fried eggs and the large yellow leather yolks (still in tact) serve as head cushions.

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Friday 29 January 2010 Life is short.... "Plenty of people miss their share of happiness, not because they never found it, but because they didn't stop to enjoy it." ~William Feather~ 1. Why do we move? Whether they own or rent their home, most Australians find that both moving house and the condition of their housing impact significantly on their quality of life, according to a recent study by the Australian Bureau of Statistics. The research, entitled Housing Mobility and Conditions, 2007-08, found that Australians often choose to change their housing at particular points in their life cycle, such as when they get married or have children, because of employment, or due to lifestyle preferences. They may also move because of the expiry of rental leases or because particular forms of housing become less affordable. The study found that a major factor in the drive to move is that what is suitable housing at one stage of people's lives may not meet their needs at another. In 2007-08, 43 per cent of respondents had moved in the 5 years prior to being interviewed. Of these, 8 per cent had moved from interstate or overseas, 45 per cent had moved from a different suburb / locality, and 47 per cent relocated within the same suburb/locality. Private renter households were most likely to have moved in the last 5 years (85 per cent of reference persons), and owners without a mortgage the least likely (15 per cent). Renters from state and territory housing authorities were less than half as likely to have moved in the last 5 years as private renters (37 per cent of reference persons). For recent movers, the most common reasons for moving to their current dwelling were: purchased own dwelling (17 per cent); wanted a bigger or better home (16 per cent); and lifestyle / other reasons (14 per cent). Other reasons included neighbourhood reasons, migration to Australia and returning from living overseas. Top 2. Residential building recovers Residential building activity picked up in the September 2009 quarter, according to figures released this week by the Australian Bureau of Statistics. Seasonally adjusted work done on new residential dwellings increased by 2.8 per cent in the September 2009 quarter, to an annualised worth of $36.3 billion. This was 3.9 per cent down on the September 2008 quarter and over 9 per cent lower than the previous cyclical peak seen back in early 2004. Work done on detached houses increased by 6.5 per cent over the September 2009 quarter but work done on `other residential building' dropped by 5.5 per cent. Seasonally adjusted new residential work commenced in the September 2009 quarter increased by 5.8 per cent, the first rise since mid 2008. Housing Industry Association Chief Economist, Dr Harley Dale said that 2009/10 is looking like it will be a healthier year for new residential construction. "First home buyer-related activity, the Social Housing Initiative, and the lagged impact of very low mortgage rates will combine to generate growth in new residential work done in 2009/10", Dale said. There was also brighter news on the renovations front in the September 2009 quarter with the volume of work done on major alterations and additions increasing by 3.9 per cent following four consecutive quarters of decline. "The renovations sector should continue to recover after a soft 2008/09 as labour market conditions improve further and gains in home prices bolster confidence" he concluded. In the September 2009 quarter seasonally adjusted new residential work done increased in every state and territory with the exception of Western Australia. New residential work done increased by 6 per cent in Queensland, 4.5 per cent in the Australian Capital Territory, 3 per cent in Victoria, 2.9 per cent in the Northern Territory, 2.8 per cent in New South Wales, 0.3 per cent in South Australia, and 0.2 per cent in Tasmania. Work done fell by 1.2 per cent in Western Australia. Top 3. Top 10 tips for avoiding strata strife Living in close proximity with others can be difficult, especially if you live in an apartment block with thin walls, annoying neighbours, or frequently find your car space being used by someone else. NSW Minister for Fair Trading Virginia Judge said this week that requests for mediation in strata disputes in NSW alone had risen from 1,273 in 2008 to 1,405 in 2009 - an increase of almost 10 per cent. "Complaints last year ranged from the ordinary to the off-the-wall," Ms Judge said. "You can understand differences of opinion over processes - but some behaviour is just peculiar." Some of the more unusual complaints received by Fair Trading last year included: A long-running and personal feud between neighbours peaking with one positioning what the adjoining owner described as an "evil-looking effigy" in his courtyard so that it stared directly into his bedroom A complaint made against an owner whose large dogs and particularly noisy pet geese were disturbing other owners, resulting in threats that the geese would help save his weekly dog food bill, and High-rise residential tower residents dropping tables, chairs, lit cigarettes and dirty nappies onto the pavement outside the ground level café and shops. Ms Judge said the good news was that while there was an increase in mediation requests last year, they represent a tiny fraction of the State's 65,000 strata schemes. "People want to get along. Whether you live in a unit, a duplex or a house, being happy in your home and having a sense of community is so important," she said. "Exercising commonsense and your responsibilities as well as your rights will help avoid frayed nerves." Ms Judge said the most common bugbears were associated with alterations to common property, breaches of by-laws, relationships with managing agents and meeting procedures. Ms Judge said NSW Fair Trading's Top 10 Tips for Strata Living are: Get involved - Decisions are made at meetings so get involved. Make your vote count. Use your proxy if you can't attend. Know the rules - find out the strata management requirements for your state. Looks are deceiving - get approvals before altering common property. It doesn't matter that it's your courtyard, if it's common property, it's owned by everyone. What will the neighbours think? - be mindful of others. Noise can be annoying - as is taking up visitor parking with your vehicles. Protect your investment - maintain common property. If it's getting run down, put up a motion at a meeting for specific works to be done. Talk first - talk to your neighbours if there is a problem. They may not realise their actions are causing a nuisance. It's your strata scheme - your strata managing agent works for you. If you're not happy with their performance, have a meeting and vote to instruct them on how you want them to manage your scheme. If you don't like it, change it - by-laws are there to guide the behaviour of owners and tenants. If the by-laws aren't working, change them. You do this by putting a motion with the new by-law to a general meeting, getting over 75 per cent to vote for it, then registering the by-law at the Land and Property Management Authority. Don't let it fester - pursue by-law breaches. If talking has not resolved a by-law breach, contact your executive committee or strata managing agent to issue a Notice to Comply with a By-law. This can lead to a fine of up to $550. You may also want to apply for mediation. Be flexible - there may be times you need to give a little more leeway to accommodate different personalities. Top 4. D+ for `DA's Development assessment processes in Australia aren't making the grade, according to new research from the Residential Development Council (RDC) and the Property Council of Australia (PCA). The RDC/PCA's Development Assessment Forum (DAF) Reform Implementation Report Card reveals that Australia underperforms in the delivery of efficient, fair and consistent planning and development assessment systems. The `Report Card' identifies progress on development assessment reform across the states and the necessary steps that must be taken to fully implement the 10 Leading Practice Principles developed by the DAF to improve development assessment processes. Peter Verwer, chief executive of the Property Council of Australia, said, that over the last 30 years, users of the planning system have experienced growing complexity and delays in development assessment processes have increased dramatically. "It is imperative that planning systems can effectively underpin the strategies of major cities across the country", Mr Verwer said. "If cities are to be the powerhouses of the economy, then the frameworks they operate within must operate efficiently." RDC executive director Caryn Kakas said the `report card' shows which states are successfully advancing development assessment reform as identified by the Council of Australian Governments (COAG), and which states are lagging. "The announcement of planning reform through COAG has provided us with a path to improving systems nationally," Ms Kakas said. "However, we need to ensure these announcements are carried through and the next steps are already being considered if we are to achieve the necessary reform. "Australia's planning system has long struggled to pass the test, but there is still hope for it to top the class." Top 5. Who's been sleeping in my bed? There's nothing quite like jumping into a heated bed on a freezing cold night. While we're in the middle of a scorching summer, one hotel chain in chillier-than-ever Britain is trialing a more humanistic approach to beating the winter chills than the electric blanket or hot water bottle. This month, if requested, a willing staff member in 3 participating Holiday Inn hotels will dress in an all-in-one fleece sleeper suit before slipping between the sheets to get the bed nice and toasty before guests arrive, local press reported recently. The bed warmer will have a thermometer on hand to measure the required 20 degrees Celsius, be fully dressed and have their hair covered, although there is no confirmation as yet if they will have showered before climbing between the sheets. Top 6. Switch your furniture Outer space may be the final frontier, but inner space is a quest we face frequently in our homes. Belgian designer Ellen Ectors has created SwiTCH to take on the problem that bulky desks, chairs and tables so often bring with them. An outer cube made from massif oak has an arc carved from the inside which is lined with padded leather for comfort, and a large leather ball filled with polyether foam rolls easily away into the gap. The cube can be used as a table with the ball rolling out to function as a seat, or can be tipped on its side with the ball inside being used as a recliner or a shallow desk.

Latest Property News from Ted Hanson

Friday 22 January 2010 Come and Celebrate Australia Day in Wollongong! A day long celebration starting from 8am with aquathon, surf rescue water displays, sand sculpture and thong throwing competitions, stalls, amusement rides to hands-on activities and action in every direction for both children and adults alike. The main stage will come alive with talented musicians and dancers whilst costumed characters will roam the event area bringing colour and fun to the atmosphere. There will be something for everyone including mock Surf Life Saving helicopter rescues in Wollongong harbour and more stalls and more challenging amusement rides for the young at heart in Lang Park. The evening culminates with a spectacular fireworks display proudly presented by Integral Energy off the southern breakwater of Wollongong harbour. Come and enjoy the fun! Although road closures are in place from 5am to 10.15pm, a free park n ride bus service is provided from JJ Kelly Park and Vikings Oval to the venue to make parking easy and convenient. Event Begins at: 8:00 AM Event Ends at: 9:00 PM The Event is on: Tuesday, 26 January 2010 The Event will be Held at: Wollongong Harbour Event Type: Competitive Sports Events, Family Fun Day, Fireworks, Food & BBQ's, Music & Entertainment, Novelty Events, Official Ceremonies This Event is Suitable for: Family 1. Double-digit growth in 2009 Home prices rose by more than ten per cent in 2009, according to the latest figures released by RP Data. The RP Data-Rismark Home Value Index shows that Australian home prices rose by 1.1 per cent in November with 11.3 per cent cumulative growth in first 11 months of 2009. The results were driven by robust gains in Sydney (up 11.6 per cent for the year) and Melbourne (up 17.0 per cent). Most of the other capital cities have performed strongly with Darwin (up 17.9 per cent) leading the way, followed by Canberra (10.9 per cent), Brisbane (6.9 per cent), Perth (6.5 per cent) and Adelaide (5.7 per cent). In the three months to end November, home values in Melbourne and Sydney outperformed most other capitals rising by 4.5 per cent and 3.2 per cent, respectively. Over the year-to-date, Melbourne has been Australia's best performing capital city outside of Darwin, generating exceptional capital gains of 17.0 per cent. Sydney home values have increased by more than 1 per cent per month with cumulative growth of 11.6 per cent. Managing Director of Rismark International, Christopher Joye, remarked that Australia's housing market has surprised on the upside with impressive double-digit capital gains in the year-to-date. "At the end of 2008 most forecasters were predicting substantial house price falls in the following 12 months - almost all of them were proven wrong." Rpdata.com Research Director Tim Lawless suggested that the November results highlight that the Australian market may be less sensitive to interest rate rises and the removal of Government stimulus than many would have thought. "The strong November results were achieved despite the 25 basis point lifts in the official cash rate in October and November as well as the wind back of the boost to the First Home Owners Grant which was halved on the first of October", Lawless said. "First home buyers have been trending down since peaking in May '09 and the gap is being filled by upgraders and investors who are much less sensitive to rate rises and the level of stimulus." Christopher Joye agreed. "First time buyers have been fading from the market and the withdrawal of the boost has yet to have any discernible impact on price growth", Joye said. "The key driver of Australian housing demand in the latter half of the year appears to have been up-graders and investors. "We expect this trend to continue in 2010." He said that as mortgage rates normalise to around 7-8 per cent, house price growth is likely to taper back to more modest single-digit levels in 2010. "Since many borrowers did not reduce their mortgage repayments in 2008-09 when the RBA cut rates by circa 40 per cent, household balance-sheets should be well positioned to absorb higher costs", he predicted. The median Australian home price in all capital cities over the three months to end November was $439,800 (including houses and units). The national median dwelling price for all regions across Australia was $395,000*. The median Australian house price in capital cities is $470,000 while the median unit price is $390,000. The most expensive houses, based on median price, are in Sydney ($550,000), followed by Canberra ($535,000), Darwin ($501,000), Melbourne ($486,400), Perth ($485,000), Brisbane ($449,850), Adelaide ($372,000) and Hobart ($330,000). Sydney also has the most expensive unit market with a median price of ($417,000). Melbourne follows at $402,500, then Canberra ($390,000), Perth ($385,000), Brisbane ($375,000), Darwin ($357,000), Adelaide ($310,000) and Hobart ($270,750). In the year-to-date, units (+12.5 per cent) outperformed houses (+10.9 per cent) presumably due to the influence of the first time buyers' boost. National rental yields tapered slightly in November with the gross annualised rental yield for units being 4.9 per cent while house yields are lower at 4.1 per cent. *Note: these are the `middle value' or 50th percentile median prices based on the pooled sales over the last three months. Top 2. Focus on sustainable cities Property industry leaders will gather in Melbourne next month to determine how productive, healthy, profitable green buildings will become the cornerstone of a renewed push for sustainable cities. More than 1000 leading Australian and international property industry experts are expected to attend the annual Green Cities 2010 conference, to be held in Melbourne from February 21-24. A joint initiative of the Green Building Council of Australia (GBCA) and the Property Council of Australia, Green Cities 2010 is the largest and most influential green building conference in the Asia Pacific region. Now in its fourth year, Green Cities 2010 will feature panel discussions, case studies and debates on how green buildings will deliver greater productivity and occupant health while using less resources and providing higher returns on investment. GBCA Chief Executive, Romilly Madew, said that with 11 per cent of all CBD office space now Green Star rated and a further 25 per cent (400 buildings) undergoing certification, clear evidence is now available about the positive impact sustainable buildings have on people, places and performance. "We know that Green Star rated office buildings are reducing greenhouse gas emissions by an average of 60 percent. These buildings are commanding higher rents and higher selling prices, they have lower vacancy rates and the occupants of green buildings report higher productivity and lower absenteeism," Ms Madew said. "With buildings and their users responsible for 23 percent of Australia's total greenhouse gas emissions, the potential benefits to be gained from developing green cities are enormous." Property Council Chief Executive, Peter Verwer, remarked that the property industry has taken important steps in sustainable development over the past five years and this is an opportunity to take green building to the next level. "Sustainable development will only become more important as the pace of urbanisation in Australia continues to accelerate." Green Cities 2010, sponsored by world-leading property investment managers The Grosvenor Group, will feature international and Australian experts including: * leading urban designer Malcolm Smith, who will share his experiences in the creation of green precincts such as Stratford City (UK) and Dongtan Ecocity (China) * US green building specialist Jerry Yudelson * Elsa Monteiro, head of sustainability at Sonae-Sierra (a Grosvenor Group company) More detail, including a full program for the conference, is available at www.greencities.org.au. Top 3. The `Australian dream' could be yours! If you dream of an Australia Day barbecue in a home that is all your own, right now is a good time to start looking for ways to save the time and money. It's a new year and a new decade, the perfect reason to take a look at your home loan and repayment strategy to see if any improvements could be made in order to pay it off as soon as possible. "Offering a fresh start, the New Year is a better time than most, psychologically, for Australians to get off the deck chair and come to the table with a better idea of their goals and how to achieve them", Mortgage Choice senior corporate affairs manager, Kristy Sheppard said recently. "Summer sunshine puts people in a positive frame of mind and this should be directed into a new year mortgage strategy that both novice and experienced borrowers can take advantage of!" To help ensure borrowers begin 2010 by taking a few steps closer to being mortgage-free, Mortgage Choice suggests going over the following checklist: Step 1: Is your current mortgage still the most suitable for you? Circumstances change, as do your needs. Consider how competitive your lender's interest rate is, what features you are paying for and aren't using, the fees you're forking out for and what kind of costs are associated with switching loans and/or lender. A reputable mortgage broker can offer a no-cost home loan health check to compare your loan to others currently available. Step 2: Are there ways to pay off your mortgage quicker? Have you been throwing money into the loan account wherever possible e.g. your yearly tax return or bonus or leftover monthly wage? Every cent counts. Is it possible for you to repay at a faster rate via other methods e.g. paying fortnightly instead of monthly or making the loan a partial offset? Step 3: Are you interest rate savvy? Have you been repaying your mortgage as though its interest rate was at least two percentage points higher, preparing yourself for rate rises and in the meantime reducing your loan term and the amount owed? This will encourage a good savings habit and make adjusting to rate rises less burdensome. Step 4: Is refinancing an option? If you are struggling with your repayments, consider refinancing the loan over a longer term than you have left. Or, if you've been making extra repayments to reduce your loan amount, you could always refinance the loan so your repayments reflect what you owe on the loan, not the original loan amount. Step 5: Have you looked at your spending habits? Are you spending more money than you need to e.g. transport, entertainment, fast food? Continually list your expenses to see where you can save money and contribute more into your mortgage. Once you have revisited all of the above steps, re-do your budget so you really are beginning the year ahead. Top 4. The great wall of chocolate In a recent campaign to convince residents to eat more sweets, a team of Chinese confectioners has built a 10 metre long replica of the Great Wall of China entirely out of chocolate. According to local news sources, the miniature wonder consists of solid dark chocolate bricks held in place with white chocolate and is part of an attraction at the World Chocolate Wonderland exhibition and trade show later this month in Beijing. Up to 80,000kg of chocolate was used to make the display, which also features 560 chocolate Terracotta Warriors - an army that's unlikely to last as long as the original. Top 5. An alarmingly devious tyrant No one wants to get a phone call first thing in the morning, having to be coherent through foggy layers of dream state. With that as incentive for the recalcitrant `sleeper in', designer Alice Wang has created the Tyrant alarm clock. If you don't wake up when the alarm goes off, it steals your mobile phone, randomly shuffles through your contact list and calls someone every three minutes after the desired wake up time. Sleepyheads will not only have to brave early morning conversations, they'll have to explain why they're the one making the call. Top 6. This could be right up your alley In a country where bigger is often better, the smaller things still pull some hefty weight. New York's skinniest home, offering two bedrooms, two bathrooms and a list of previous owners including a famous poet and an anthropologist, has sold for nearly AU$2.3M, local news hub NY1 reports. The 3 x 12 metre building in Greenwich Village was built in 1873, in a space that was once an alley between two larger homes. Top

Latest Property News from Ted Hanson

Welcome back "It is good to have money and the things that money can buy, but it's good too, to check up once in a while and make sure you haven't lost the things money can't buy." ~George Lorimer~ 1. Where will you be living in 2050? Can you imagine living in a vertical city where the top levels generate solar and wind power to the levels below? This was one of the many intriguing ideas that came to light in a recent competition on how our metropolitan centres could look in the near future. The national Ideas for Australia's cities 2050+ competition was run by the Australian Institute of Architects' 2010 Venice Architecture Biennale Creative Directors, John Gollings and Ivan Rijavec, to source material for the 2010 exhibition in the Australian Pavilion in Venice. The team's two-part 'NOW + WHEN Australian Urbanism' exhibition will highlight three of Australia's most interesting urban regions as they are 'NOW', before dramatically representing around seven futuristic urban environments from the competition as they may be 'WHEN' we reach 2050 and beyond. The competition fired the imagination of Australia's architects and designers, resulting in inspired, possible solutions and imaginative proposals addressing the critical issue of Australian urbanism - examining possibilities across the terrestrial, underwater and airborne realms. Shortlisted ideas range from proposals for: * New cities housing between 50,000-100,000 people in current desert areas to address our expected population growth; * Cities in which urban development is concentrated in 'peripheral' areas, such as large landholdings on university campuses, 'big box' shopping centres, business parks, industrial estates, recreational reserves, and market gardens to establish a series of interlinked, self-sustaining districts dispersed along a transport ring. * Cities which feature a 'tartan-like texture of pure urban areas (or cells), pure rural cells, and cells which are a hybrid of rural and urban', providing a 'vital flexibility for a sustainable future'. * Cities designed for 'urban life without fear', based on the belief that 'any design for a good, sustainable city for the 21st century will demand a theory of hope and the desirable'. * Cities in which 'within tightly controlled boundaries exist Multiple Cities'. Cities which address issues such as: what if a city grows not out, but up or down? What if a city's growth boundary is not on its periphery but at its heart? What if new planning initiatives were introduced governing the use of air space? 'A Green City, where the top plane provides wind and solar energy to power (and cool) the multiple cities below', as well as all food production. * Cities 'woven into the landscape' - balancing dense human settlement with flora and fauna biodiversity, with major roadways converted into natural landscape corridors. * Cities hugging the coast from Noosa to Geelong to accommodate population growth and the preferred coastal climate; connected by a 'very fast train running from North Qld to Victoria; pockets of vertical sprawl; new cities in pristine locations such as Botany Bay and the Royal National Park. The Creative Directors said those shortlisted were far more than hypotheticals. Each uniquely responded to future challenges including population growth, environmental degradation, dwindling resources and climate change. Each entry reflected a highly creative diversity of possibilities fused with a diversity of design that mapped out possible cities of the future. Co-director Ivan Rijavec, Principal of innovative Australian architectural practice Rijavec Architects, said that the exhibition has spotlighted our most pressing national concern - how we best manage our cities and their future growth. "We currently have 93 per cent of Australians living in urban environments being affected every living minute by the way in which our cities function", Mr Rijavec said. "The number of responses received for this competition confirms that in Australia and internationally, urbanism - more than at any other period in history - has become fundamental to our prosperity and critical to our survival." Top 2. What's cooking in your kitchen? LCD/plasma TVs, freestanding stoves and dishwasher drawers were among the most popular additions in many kitchen makeovers in 2009, according to a new report from the Housing Industry Association (HIA). The HIA Kitchens and Bathrooms Report for 2009/10 reviews the amount of money Australians spend each year on kitchen and bathroom renovations. It predicts the value of `K&B' installations and renovations will hit a record $12 billion by 2012. The report surveyed hundreds of small to large businesses in the K&B industry, detailing the average cost of new installations and the types of materials and appliances consumers are demanding in their kitchens and bathrooms. In 2008/09 there were 130,650 new dwellings started in Australia, valued at an average value of around $260,489. The average value for both a kitchen or bathroom installation was around $14,000. "One of the strongest growth categories within the kitchen and bathroom sector in recent years has been the use of high-end hardware and storage solutions," Dr Dale said. "The growth in the use of storage solutions held steady for lazy susans in the 2009 survey, but increased for every other category." The fastest growth was for soft closing drawers. "Lift-up door operating systems and touch opening door and drawer systems also grew in popularity", he added. In terms of kitchen appliances, the greatest increase was for wine cooler/fridges, LCD/plasma TVs, and European freestanding stoves and dishwasher drawers. The survey found the most popular components replaced in a bathroom makeover were basins, vanity units, tap ware, and tiling. There was also a large increase in semi-frameless shower screens, multiple basins, and multiple showerheads compared to previous surveys. Under-mount sinks continue to be the fastest growing sink. The 2009 survey also asked respondents about various materials types and their usage. "Engineered stone, solid surface and granite bench tops were all in high demand. But there was a decline in usage rates for stainless steel, concrete, and timber bench tops," Harley Dale said. "Glass and engineered stone splashbacks are on the rise, but there's a decline for granite and tiled splashbacks." Corner drawer systems and water filtration systems were also a hit, the survey found. Top 3. First time homebuyers shun McMansions First time homebuyers are searching for cheaper and smaller homes located further from city centres in their attempt to break into the housing market, according to a recent survey. The latest Bankwest/Mortgage and Finance Association of Australia (MFAA) research report also uncovered an unprecedented shift in behaviour among renters, with an increasing number saying they are prepared to forego the lifestyle advantages of renting for the perceived security of buying. Interestingly, buyers are also increasingly turning their back on super-sized McMansions. "The financial crisis has changed the aspirations of home buyers, effectively downsizing the great Australian dream," said Phil Naylor, CEO, MFAA. Mr Naylor said that 47.9 per cent of first time buyers are now looking to purchase a cheaper property than otherwise intended. The MFAA/Bankwest Home Finance Index canvassed the opinion of 850 people on a range of issues relating to first home buyers. Mr Naylor said first time buyers have resorted to a number of measures to enable them to enter the property market, such as looking for a smaller property (32.3 per cent) and seeking out an older property rather than moving into a new home (24 per cent). "While Australia has the largest new home sizes, it seems first time buyers are turning their back on the McMansion dream and are looking at buying a home instead of a super-sized property that makes a statement about their lifestyle or prestige," Mr Naylor said. Another 31.3 per cent said they are looking for properties further from city centres. Head of Mortgages at Bankwest, Dean Gillespie, said the survey found 43.8 per cent of first time buyers are toning down their lifestyle and putting money aside in case the economy deteriorates. "In contrast to claims that first time buyers are likely to default on their loans as interest rates increase, these figures suggest that first time buyers are saving to prevent that from occurring," Mr Gillespie said. "First time buyers are actively saving to protect themselves from an economic downturn, which suggests people are more strategic than they are given credit for." Mr Gillespie said about one in five renters were happy to keep renting so they could maintain their current lifestyle and avoid sacrificing home size, location and proximity. "Some renters seem perfectly happy to continue renting, but they are clearly still in the minority," Mr Gillespie concluded. Top 4. A house to fly for? The Butterfly House is an amazing refurbished home belonging to a family of four in Surrey, England. Inspired by the life cycle of a butterfly, different parts of the house represent each phase from the larval stage (the hallway), through the chrysalis (the staircase and conservatory) to the winged canopies outside that depict the emerged butterfly. The surreal home is built of timber, Kevlar sails and steel, copper and plastic ducts, as well as about two kilometres of bungee rope, one hundred metres of fibre optic cables and fifty interwoven carbon fibre fishing rods. Actual butterflies are attracted by plants including lavender and hebe, in a garden that meanders throughout the house. Top 5. How much is that garden in the window? More and more, we're seeing that you don't need a property in the country to grow your own food and in fact, you don't even need a back yard. Many Australians are recognising the benefits of having at least some tomatoes, lettuce and herbs growing on a balcony or in pots. Window Farms make it even easier. In essence, they are vertical, hydroponic, modular, low-energy, high-yield edible window gardens that you can easily build at home using low-impact recycled materials from your local area. A Windowfarms project has recently been established, dedicated to helping people all over the world get their vertical gardens growing, as well as providing an online forum for domestic green-thumbs to share ideas, tips and stories. For more information visit windowfarms.org.

Merry Christmas and a Happy New Year to all our past present and future customers and clients.