First there was QE2, now La Niña
Economic trends
• Investors are always looking out for “the next big thing”. Currently investors are fretting whether the US economy will experience a double-dip recession, in turn debating whether the Federal Reserve needs to apply more stimulus – more quantitative easing, or QE2.
• But closer to home there is a weather trend to watch – La Niña – an event associated with cooler, wetter weather. There hasn’t been a major La Niña event since the late 1990s and it has implications for a raft of businesses.
• Overnight, the World Meteorological Organisation released its latest El Niño/La Niña Update and warns of moderate to strong La Niña conditions over the coming 4 to 6 months.

El Niño, La Niña – what is it all about?
• Over time, Australians have heard a lot about El Niño. This is the weather event that most people associate with drought. And given that most of the noughties were characterised by drought, there has been plenty of discussion about El Niño in recent years.
• But now the discussion has shifted to La Niña. This is essentially the opposite of El Niño, associated with cooler, wetter weather in eastern and northern Australia. The Bureau of Meteorology (BOM) also notes that there tends to be more tropical cyclones in northern Australia when La Niña events occur.
• In late September, BOM indicated that La Niña was well established in the Pacific and indicated that it will last until at least early 2011. The Climate Prediction Centre in the US has projected that La Niña will persist until at least the Northern Hemisphere Spring of 2011 – that is to around March 2011. The CPC says “many models forecast La Niña to strengthen through the November 2010 – January 2011 season before beginning to weaken.” In the US, La Niña autumn/winters tend to be warmer and drier for the Southwest but increasing the possibility of rain and snow in the Pacific Northwest.
• The CPC says that the last El Niño event extended from May 2009 to May 2010. Effectively there have been rolling El Niño events from April 2002 through to 2010, with only a brief La Niña from August 2007 to Jun 2008. The last major La Niña was a two year period from June 1998 to June 2000.
• In contrast to the dry noughties, the 1990s tended to be wetter than normal with a La Niña event occurring from 1995 to 1996 and then another event covering 1998 to 2000.
• The World Meteorological Organisation has just released its latest El Niño/La Niña Update, warning of moderate to strong La Niña conditions over the coming 4 to 6 months. And like the CPC and BOM, the WMO expects the La Niña event which began in June and July 2010 to extend until at least the first quarter of 2011. The WMO said the current La Niña became “moderate to strong” in August and continues at the same strength.

Wet weather on the way?
• The climate models say that cold, wet weather is on the way. Most people in the eastern states would say that it is already here. Queensland had its wettest September on record and Brisbane yesterday had its wettest October day on record. In addition, temperatures have been below-average in eastern and southern states. It was the coldest and wettest September in South Australia in 18 years. Melbourne had its coldest September in 16 years while Sydney had the coldest September in five years.
• The last major La Niña was in the late 1990s, and it is clear from the charts that this was the last time that rainfall across the capital cities was well above normal. For most of the noughties the rolling total of capital city rainfall was below average. But it’s worth noting that over the year to September 2010 that capital city rainfall was in line with the long-term average.

Implications of a La Niña weather event
• A raft of businesses and industries will be affected if a major La Niña event occurs across the summer months in Australia. Amongst those potentially affected are:
• Retailers of seasonal goods – clothing, electrical goods, outdoor equipment, swimming pool operators & equipment
• Utilities – reduced demand for power (air-conditioners, fans etc)
• Insurance companies – potential for floods, more traffic accidents
• Rural producers – effects will vary depending on where and when the rain falls, and in what quantities
• Builders/construction – potential for weather delays with more frequent rain days
• Good rains in recent months through Queensland, NSW and central Australia have served to lift dam levels, fill lakes and boost water flows in key river systems. But somewhat perversely the ending of the drought may reduce the urgency for reform of water allocations in the Murray Darling basin and delay moves to get more appropriate pricing of water to better reflect its scarcity value.
• While the ending of the drought will reduce demands on the Federal Budget for special assistance grants, the occurrence of major floods could result in different demands on government spending.
• The CPC has also noted that a deepening of the La Niña event could lead to more hurricanes in the Gulf of Mexico, disrupting oil production. So far the hurricane season has been relatively uneventful, but it does extend for another month or so until late November, so it bears watching.

What are the implications for investors?
• Retailers are already under pressure given that conservative consumers are reluctant to spend, so a mild, wet summer would represent an additional challenge. Myer currently is in the middle of a Mid Season Sale (ends October 17) with the catalogue dominated by Men’s and Women’s clothing items.
• It is hard enough for investors to account for the vagaries of the economy, let alone the vagaries of the weather. And while La Niña events have predictable effects, climate models aren’t able to accurately determine whether a mild La Niña event is in prospect or something more severe. Still, for investors it is a case of forewarned is forearmed.

Source Craig James, Chief Economist, CommSec

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Friday 15 October 2010 Jazz in the Mall Experience all that Jazz at Crown St Mall when the Wollongong Conservatorium Jazz Ensemble performs live featuring top jazz musicians! Venue: Crown St Mall, Address: Crown Street Mall Amphitheatre, Wollongong, Next Date: Saturday, 16 October 2010 Time: 12:30 PM - 1:30 PM Tickets: Free Event Contact No: (02) 4226 1188 1. Housing finance up Home loans rose again in August, according to figures released this week by the Australian Bureau of Statistics. Total number of dwellings financed for owner occupiers, seasonally adjusted, rose by 1 per cent in August, to be down 22.8 per cent on July last year. This was boosted mainly by the number of loans for the purchase of established dwellings, which rose by 1.4 per cent in August. Number of loans for `new' dwellings (construction/purchase of new dwellings combined) fell by 1.3 per cent in August, to be down 25.2 per cent on the same month last year: Of this figure, the number of loans for the construction of dwellings fell by 1 per cent in August, while the number of loans for the purchase of new dwellings fell by 2 per cent in August. The value of lending to finance the purchase of investment housing fell by 3.9 per cent in August, to be down 4 per cent on a year ago; however, the value of lending to finance construction of dwellings for rent or resale rose by 25.6 per cent, to be up 47.1 per cent on a year ago. Peter Jones, Master Builders Australia's Chief Economist, said that a further period of interest rate stability will be critical to engender confidence and encourage upgraders, investors and first home buyers alike. "A solid pipeline of new building work lies ahead, but Australia requires a major phase of residential building to make up for previous weak activity and to cater for the housing needs of the population", Mr Jones said. "Although finance commitments for the building or purchase of new dwellings remain up on the low point in late 2008, loans now need to kick up again following 10 months of correction." "Despite some improvement in recent times, the investment-driven side of the new housing market is still struggling to overcome the credit crunch and is constraining the upswing." Master Builders believes that housing supply side issues and affordability need to be seriously addressed in the new Parliament. Top 2. What annoys Aussies most? Australians appreciate honesty and good service, according to consumer advocacy group Choice, which surveyed more than 1,000 of its members to find out what really gets under their skin. The most prevalent annoyances are all consumer or product-related, it was found. The top three ultimate irritations include hidden fees, having problems returning a faulty product under warranty and being put on hold or not being able to speak with someone on the phone. Largely, the most prevalent gripes suggested that Aussies loathe being ignored or disregarded by customer service or sales staff. In fact, the older people are, the more annoyed they are with being put on hold and getting no response to their complaints. Interestingly, those who live in rural and regional areas are annoyed by the same things that bug city-dwellers. Residents in NSW, QLD, WA, ACT and TAS get most annoyed about hidden fees, while people in VIC, SA and NT get most infuriated about long queues at checkouts. While the majority of males get most annoyed about hidden costs and fees, women are most infuriated about no-refund policies or lack of replacement for faulty products despite having a warranty. One of the biggest grievances shared by both men and women was being left on hold. However, on the whole, women generally get more irritated than men by most annoyances (outlined below). "It's the simple things that companies often get so wrong", CHOICE spokesperson, Brad Schmitt observed. "Australians appreciate honesty and good service and our Choice report suggests that this is simply not happening. "Australians feel cheated and deceived when companies are not up front about all of the costs involved in the service or product consumers are purchasing" he said. The top 32 things that annoy Australians include: Hidden fees and costs No refund/replacement for faulty products, despite being under warranty Being on hold/not getting someone on the phone Tailgating No response to written or verbal complaints People talking loudly on mobiles in an inappropriate area Door-to-door salespeople/telemarketers People coughing in an enclosed area without covering their mouth Confusing broadband/phone price plans Nonchalant customer service Erroneous bills Cigarette butts littering public areas Unreliable internet Poor advice from financial planners Spam email Late repair people Noisy neighbours Long queues/checkout lines Companies only letting you pay by automatic deduction Poor service from airlines Shrunken products Traffic jams Very slow drivers Purchase thwarted by "sorry, out of stock" Not getting a parking space Supermarket grocery prices Forgetting passwords/PINs Parking fines Crying babies on planes Programming new electronic products Loyalty cards Inaccurate weather forecasts 3. Could do better... The housing supply report's in and showing there is a definite need for improvement, the Housing Industry Association announced this week. The Association's National Outlook report shows that federal stimulus measures ensured the number of new homes built nationally increased by 26 per cent in 2009/10 to 165,209. However, as the measures wind down, housing starts are forecast to decline by 4 per cent in 2010/11 to a level of 159,393. "The fact remains we are not building enough homes to match demand, and going forward our national housing shortage is expected to worsen," said HIA Chief Economist, Dr Harley Dale. "Renewed weakness in new home starts in 2011 would mean there were only two years in ten when starts have risen", Dale said. "That is an appalling result, which highlights the challenge Australia faces in addressing a large and growing housing shortage that will place considerable further pressure on rental markets." By calendar year, housing starts are forecast to increase by 24 per cent in 2010 to a level of 171,442, before dropping by 9.5 per cent in 2011 to a level of 155,155. "Stimulus measures drove a short-lived recovery in new home building and helped Australia avoid a recession" Dale remarked. "However, if we want to address Australia's housing shortage then the Federal Government needs to lead from the front on a range of policy areas including further investment in skills and training, reform of the tax system, an end to excessive regulation, increased land supply, reduced planning delays, and ensuring greater competition in the banking sector so there's adequate finance for development", he added. On the renovations front, low interest rates and renewed growth in home values drove a 5 per cent increase in total activity to a record $32.8 billion in 2009/10. "Total investment in renovations is forecast to tick up by less than 1 per cent in 2010/11 to a worth of $33.1 billion", Dale said. 4. Budgeting for holidays School holidays are over again, but Christmas is so close. Many Australian families find holidays taxing on the household budget, with additional childcare expenses or unpaid time off work, plus the wide-ranging costs for entertaining children during a peak period. With home loan repayments lingering, what's the best way to avoid a blow out and stay ahead? Mortgage broker Mortgage Choice recommends a return to budgeting basics, particularly planning ahead. Company spokesperson, Kristy Sheppard says that adjusting the budget earlier in the school term to save for upcoming holiday expenses should make maintaining repayments easier and see the whole family having a more relaxed time. "When saving for any financial goal you need to set a target, work out how much you need to put away weekly or monthly and ensure the piggy bank still has enough to meet other commitments", Ms Sheppard suggests. Here are some top tips to reduce debt, spend wisely and still enjoy the holidays: Savvy shoppers save online Discounts are often available if you book things in advance and/or purchase online. Prepare early for the break and shop online for accommodation discounts, cheap flights and bargain tickets to concerts, sports events and attractions. Saving money here means more money to spend elsewhere. Make the most of savings An offset account attached to your home loan or a home loan with a redraw facility can put to good use those new savings or dollars being accumulated for holidays. Rather than making deposits into a savings account, adding extra funds regularly or lump sums into a home loan in these ways can increase your savings while acting as contributions to the loan. This helps reduce the interest owing and your loan term. Plus, paying the mortgage is not taxable whereas money in a savings account is. Do some lump sums After the holidays, any money saved (big or small) from your budgeting efforts can be put back into your offset account or deposited into the loan account as a lump sum. Take a 30-year loan of $300K at 7.36 per cent: $500 added at the three-year mark would reduce the term by one month and save over $3K in interest. Imagine the difference made by doing this at the end of every school holiday! Budget for a feast Holidays often lead to lazy snacking. Stay healthy and limit spending on takeaway and junk food by challenging kids to a junior master chef competition - an enjoyable way to eat well, spend quality time together, learn new skills and save money. Redraw only if you need to If you have been working hard to create a financial buffer in preparation for trying times, keep in mind that, as mentioned, some loans allow you the flexibility to withdraw extra payments made. However, some lenders have a minimum redraw amount and may charge you a fee each time. 5. You could be Big Brother Ignoring the fact that it could be another step towards an Orwellian society, a British firm has found a way to fight back against crime using millions of eyes. Internet Eyes, an online event notification system, is offering cash prizes for UK neighbourhood watchers who monitor live CCTV feed from business customers and notify them if a crime is observed. With shoplifting reaching its highest recorded levels, the motive is to detect the crimes as they happen, catching more offenders and steadily decreasing the occurrences. It does make you wonder how long it will be before we have eyes watching our homes in the same effort. 6. The king of crop Anyone with a vegetable garden will know that birds aren't always the best friends to have around, and who better to scare them off than Mr Thriller himself. A Taiwanese farmer has found a Bad way to keep the birds off his rice fields, by setting up two wooden figures adorned with the signature attire of the King of Pop, the UK Dailymail reported recently. One of the scarecrows sports a sequined white glove and black fedora hat, while the other boasts a Thriller-esque jacket. The farmer apparently told news sources that they've been such a great success, he is making a third for his father's farm.

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Friday 08 October 2010 Aprons in the Gong Bring all your family and frineds & help raise funds for the National Breast Cancer Event in Wollongong! Celebrate the lighting of the Wollongong lighthouse go "PINK" as part of the National Breast Cancer Foundation celebrations for Pink Ribbon month in Wollongong! More Information - National Breast Cancer Foundation 1. Choice survey reveals what annoys Australians most AUSTRALIANS might live in the Lucky Country but a new survey shows they find plenty to moan about. Consumer group Choice has compiled a list of gripes in a survey of more than 1000 of its members. Read More... 2. RBA leaves rates on hold Homeowners and buyers again breathed a collective sigh of relief this week when the Reserve Bank (RBA) announced its decision to leave interest rates on hold for the fourth consecutive month. The central bank last raised the official cash rate 0.25 per cent in May to 4.50 per cent. In a statement announcing the decision, Reserve Bank Governor Glenn Stevens hinted that the unsteady state of the global economy played a role in the decision. "Financial markets are still characterised by a degree of uncertainty, and are responding both to differences in growth outlooks between regions and evident strains on public finances and banking systems in several smaller countries in Europe", Governor Stevens said. Australia, on the other hand, is growing "around trend", with CPI inflation running at around 2¾ per cent over the past year. With that situation looking likely to continue in the near term, the Bank decided that its current stance is "appropriate for the time being". 3. No spring in mortgage sales The traditional spring increase in mortgage sales has so far failed to materialise this year, according to mortgage broker AFG's monthly Mortgage Index. The Index shows that instead of the usual 10 per cent increase in mortgage sales over August, this year's September's data was almost identical (down 0.3 per cent) to the month before. September sales figures were 20 per cent lower than for September 2009 with the two resource states showing the largest drop in comparative statistics. Queensland recorded a 31.8 per cent fall and Western Australia a 25.8 per cent fall compared to figures for September 2009, as uncertainties about the future of a possible mining super tax continue to affect property-buying behaviour in both states. The caution of consumers is further underlined by a jump in the take-up of fixed rate mortgages from 3.9 per cent of all mortgages sold in August, to 5.4 per cent - the highest level for fixed mortgages since June 2009. This suggests that more buyers expect further rate rises in the near term. AFG Mortgage Index also shows that Loan to Value Ratios (LVRs), loans expressed as a proportion of the value of a property, remain at a low level of 63.0 per cent. Low LVRs also tend to reflect consumer caution. First home buying levels continued to normalise to trend, with mortgage sales to this sector comprising 12.6 per cent of all mortgages - the largest percentage since January 2010. 4. How much is the doggie in the household? A dog's life isn't cheap anymore, according to the latest in an on-going Social Indicator Series, which shows that Australian families spend more than $25,000 on their pet over its life-time. The Bankwest Social Indicator Survey, the 'Family Pooch Index', revealed the average Australian family outlays $2,452 per year for the care of their canine, on top of their initial purchase of the pup of $585. Over the average life span of a dog (ten years), this equates to more than $25,000. Not surprisingly, pet food and other gourmet doggy treats gobble up the bulk of the annual cost - $1200. This was followed by veterinary costs, at $450 per year, and additional dog care, such as grooming, dog walking, dog dietician and a dog trainer at $405 each per year. The research also revealed what many of us have suspected for a long time, namely that half of Aussie pet owners consider their pet to be equally important as their kids. An overwhelming 96 per cent of respondents consider their pet as a member of their family. "The old saying that a dog's life is cheap certainly doesn't ring true for most Australians," Bankwest Retail CEO Vittoria Shortt said. "This research shows that the average Australian family is prepared to pay in excess of $25,000 over the average life time of their family dog. "This is for just one dog, many people have more than one dog so they are paying out even more. "Given this is such a large amount of money, it's not surprising that 96 per cent of respondents said they consider their pet as a member of their family." If you are looking for a cheaper alternative for a family pet, it seems a fish and or pet bird are the way to go. Respondents who own a pet fish said yearly costs run at $610 to care for the pet. Birds however, are slightly more expensive in their upkeep - costing an Aussie family $810 each year. Cats cost, on average, $1,772 per year. 5. Approvals down Number of dwelling units approved fell in August, according to figures released this week by the Australian Bureau of Statistics (ABS). ABS Building Approvals show that the total number of dwellings approved dropped 4.7 per cent in August 2010, seasonally adjusted, following a rise in the previous month. Queensland (0.9 per cent), South Australia (11.2 per cent) and Western Australia (0.9 per cent) recorded more dwelling approvals this month, while New South Wales (-16.0 per cent), Victoria (-1.4 per cent) and Tasmania (-10.5 per cent) recorded fewer dwelling approvals in seasonally adjusted terms. Private sector houses approved fell by 4.3 per cent due to falls in New South Wales (-7.5 per cent), Victoria (-7.7 per cent), Queensland (-7.0 per cent) while South Australia (3.6 per cent) and Western Australia (12.3 per cent) rose. The value of total building approved fell by 4.2 per cent in August in seasonally adjusted terms. The value of total residential building fell by 7.8 per cent while non-residential building rose by 3.1 per cent. 6. The strange relationship of order and chaos At times the world can seem like a mess, especially when we think time is getting away from us. Though that could be an illusion of personal perception. If so, the best thing might be to take a few deep breaths while finding your centre again, and not to have an "Order in Chaos" clock on your wall. On the other hand, if you like a bit of fun, the clock shows a strange relationship between order and chaos. Each number appears whole every hour, then as the minute hand rotates in the centre, the numbers split off into tiny fragments that twist, turn and shuffle themselves into foreign shapes before reuniting on the next hour. 7. A hotel with plenty of space The country that put the first man in space now has plans to open the first cosmic hotel for wealthy space tourists. Russian company Orbital Technologies have announced their aspirations to have a four-room guesthouse in orbit by 2016, the BBC reported recently. A spokesman from the company stated that the hotel would be comfortable, with space for up to seven passengers in the 20-cubic metre vessel. Passengers can also look forward to special meals prepared (before takeoff) by celebrity chefs and large portholes for viewing Earth from afar.

Tears of a Turtle

Zooming through the Amazon in Peru on the way to our eco lodge our amazing guide Luis stopped the boat every now and then to point out some of the fascinating wildlife.

A cayman (a sort of a small crocodile) basking on the bank, a family of capybaras (squat wombat sized rodents) nestled nibbling away at food, birds galore and what would soon become my hands down favourites – small turtles stacked unmoving on logs.

When handed Luis’ binoculars we all noticed the most beautiful thing. Surrounding each of the turtles were beautifully coloured butterflies. This on it’s own was stunning enough, but then we were told that the butterflies and turtles have a symbiotic relationship.

The butterflies drink the turtle’s tears and get vital nutrients from doing so all the while cleaning the turtle’s eyes.

It was an amazing and unexpected synergy and a partnership you’d never predict unless you saw it happening.

If you’re the turtle – who in the business world out there could be your unexpected butterfly?

Courtesy of Kirsty Dunphey

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Friday 01 October 2010 Crown St Mall Modelling Workshops Learn how to walk the catwalk, use make up to enhance your features and style your hair to suit your face. Crown Street Mall's Modelling Workshop will teach you the basics needed to present well in a modelling competition and give you some pointers to be the best you can be in this field. More Information 1. Common mistakes that cost money While investment property can be very profitable, many investors make costly mistakes, according to property educator Jennie Brown. Brown says a common mistake is not being clear about the desired outcome. "Many property investors are not clear on what they really want to achieve," she says. "Most want to make money; they want to travel, go to exotic places. Others may want to leave a legacy for their children, quit their job and replace it with an income to live the life they've dreamed of." 2. House prices growing House prices just keep getting better, according to a report released this week by the Real Estate Institute of Australia (REIA). The Mortgage Choice Real Estate Market Facts report for the June quarter 2010 shows that median house prices increased 3.2 per cent to $533,243. The major contributors were Melbourne, Sydney and Brisbane. With the exception of Perth and Hobart, all Australian capital cities recorded increases in median house prices over the quarter. Sydney, Melbourne and Darwin recorded the highest increases in prices while the lowest were recorded in Hobart, Adelaide and Brisbane. REIA President David Airey remarked that although house price growth slowed over the year, the growth rate is well above the annual average. "Compared to the same quarter of last year, house prices increased across all Australian capital cities, with growth rates ranging from 8.9 per cent to 26.5 per cent", Mr Airey said. "Melbourne recorded the largest increase whilst Perth recorded the smallest growth." Mortgage Choice Senior Corporate Affairs Manager, Kristy Sheppard said that despite reticence from a number of potential buyers, auction clearance rates remained fairly high on average over the June quarter, with the prestige market slowing and the more affordable areas picking up pace. "As we move into spring this continues to be the case", she added. "We have also seen some positive results in the form of our Mortgage Choice 2010 Refinancers Survey, which posed questions to 1,028 Australians who refinanced their home loan in the last year." The survey found that 68 per cent of respondents who refinanced saw their interest rate drop upon doing so and, of these, almost one quarter (23 per cent) were now saving more than $300 per month. Close to nine in every 10 (88 per cent) were saving more than $50 per month. Rents for three bedroom houses remained unchanged in most capital cities over the June quarter, with the exception of Brisbane, Hobart and Darwin. Over the year, house rents increased in all capital cities, with the greatest increases evident in Melbourne, Sydney and Canberra. "We can expect a healthy property market for the rest of the year, with an increase in activity in the medium and long term," concluded Mr Airey. 3. Builder sentiment takes a dive Builder sentiment dropped in the September quarter, according to a recent survey released by Master Builders Australia. The latest National Survey of Building and Construction shows that this drop in sentiment corresponds with declining expectations for building industry activity. Master Builders Australia Chief Economist, Peter Jones, said that builders are becoming increasingly concerned about the outlook as government stimulus programs begin to wind down. "Builders expect overall industry activity to be lower over the next six months relative to the past six months", Jones said. "They are much more circumspect about their own future business activity, see their profits deteriorating over the next six months and expect to reduce their workforce in the period ahead." 4. Green buildings: local and global Buildings consume between 30-40 per cent of global energy, according to the United Nations Environment Programme. There is no single larger global contributor - and thereby potential reducer - of carbon than the building sector. This is the main message in a new report from the World Green Building Council (WorldGBC) launched to coincide with World Green Building Week (20-24 September 2010). The building sector directly employs 5-10 per cent of the workforce in most countries. Tackling Global Climate Change, Meeting Local Priorities highlights how green buildings can play a valuable role in meeting local needs worldwide, including in areas hit by natural disasters, as well as providing the most cost-effective way of tackling climate change. "In the past some thought we could only address environmental concerns when the going was good and that 'green' had to take a back seat to economic growth when times got challenging," notes Jane Henley, Chief Executive Officer of the WorldGBC. "This report shows that to be a false choice. We have a growing evidence base of international examples in which homes, buildings and communities are addressing pressing local needs and reducing carbon emissions at the same time." Green buildings can reduce carbon dioxide emissions by more than 35 per cent - and in some cases can be carbon neutral. They can also reduce waste output by 70 per cent, water usage by 40 per cent, and energy usage between 30-50 per cent - in some cases producing energy that can be sent back to the grid. "Buildings are simply the most cost-effective way of reducing carbon emissions and policy-makers around the world must recognise this at the upcoming international negotiations at COP16 in Mexico," Jane Henley says. Tony Arnel, Chairman of both the WorldGBC and the Green Building Council of Australia (GBCA) says the report provides a timely message of what proactive government and private sector initiatives can do to harness the potential of green buildings to deliver important social, economic and environmental benefits for people around the world. The report brings together case studies from across four world regions and provides evidence of how green buildings have been used effectively to meet local needs, while cutting carbon, including: Disaster recovery: The recovery effort following disaster is a crucial time. It is an opportunity for communities to be at the heart of planning, creating homes and buildings that meet social and economic needs, enhance quality of life and also contribute to reducing greenhouse gas emissions. The report shows how green building councils have worked with local NGOs to do just this, for example in Australia through the 'Build it Back Green' program following wildfires that destroyed thousands of homes and killed over 100 people in Victoria; and in the USA where, after Hurricane Katrina, the USGBC brought local communities together with experts in urban planning, waste and water management, engineering and architecture to play an active part in lower carbon reconstruction after the floods. Job creation and local economy: The financial crisis and ensuing recession has hit some countries harder than others and countries have responded in different ways to the challenge. But a common theme is the extent to which construction and refurbishment of existing buildings has been recognised as an important way of stimulating local economies. South Africa is using the Kyoto Protocol's 'Clean Development Mechanism' (CDM), in Khayelitsha, Cape Town, to retrofit 2300 homes in an established low-income housing area. Energy efficiency measures include insulated ceilings, energy-efficient light bulbs and solar water heaters. Not only does this reduce energy use and carbon, but the revenue from the CDM is used to fund a trust to employ and train local residents. In Bogotá Colombia, one of the largest residential projects in the country, Green City, is a mixed-use project that supports the generation of economic activities and jobs for residents and surrounding areas. In the first stage the investment in infrastructure will rise to USD$30.2 million, create 21,000 direct and indirect jobs, and offer public facilities for the community. Affordable housing and fuel poverty: In both developed and developing countries, there is often a shortage of affordable, secure and healthy homes, particularly for low income or vulnerable people. Developing new or refurbished greener homes can offer benefits to both residents and the environment. In Europe, the 'Pay As You Save' idea is rising up on the agenda. The UK Green Building Council has campaigned for the introduction of an innovative financial mechanism that allows homeowners or landlords to access finance to improve the energy efficiency of a property, with the capital repaid over a long period of time from the savings on energy bills. The greatly reduced energy bills mean the resident is better off immediately, despite having to repay the initial cost of the refurbishment. The UK government will introduce legislation to enable this policy in November 2010. Similarly, the Romanian GBC is working with several banks to develop new financial products that could boost the retrofitting of green buildings in Romania along similar lines. The full report is available for download from the WorldGBC website. 5. Ride to Work Day This month Aussies everywhere get a chance to join the commuter revolution on Ride to Work Day 13 October 2010. Whether you ride to work to save money, do something good for the environment or for your health it's important that you make your ride count and register online at the Ride to Work website. Every registration helps improve bike facilities across Australia. This could be the start of something wonderful! 6. Five home security basics These days home security has become increasingly important to prevent theft, break in, or even personal injury. When planning home security there are a few simple things you can do to protect your home, even before you spend any big money. Lock the garage and shed Garden sheds or garages present thieves with the tools they need to break in to your home. For example, a ladder left lying around the garden will not only offer a thief something they can sell, it also gives them the perfect tool to break into your home. Therefore, ensure your garden shed or garage is locked when not in use with a case-hardened padlock or high grade chain. This will also help to secure items such as lawn mowers, bicycles, surfboards or garden tools. Fit sensor lights Sensor lights on the outside of your house can work as a wonderful deterrent. Sensor lights are activated when something moves across their path, so any burglar who is considering breaking in to your home should be discouraged by the possibility of exposure. Sensor lights can be wired to your electrical mains, or they can be powered using an extension lead running from inside the house. Obviously the former option is preferable. When setting up sensor lights, make sure they are not so sensitive that the family pet will set them off. Use good quality door & window locks When starting down the home security path, good quality door and window looks are an essential starting point. You may also consider fitting a wire mesh security screen door to front and rear doors. This way you can still let breezes flow through your home whilst remaining secure. Be aware of cheap imitations. When security is at stake, it can often be better to bite the bullet and buy the best quality available. Steel roll down shutters can also be fitted to windows. Clear the line of sight Overgrown branches, thick bushes, large trees and high fences all provide thieves with the perfect cover from the street and give them all the time they need to open a door lock or window. To help protect your home, clear the line of sight from the street to doors and windows. Engrave your valuables Items such as digital cameras, televisions or stereo systems should be engraved with their unique serial number. Keep a record of all serial numbers in a secure location, preferably outside your home (e.g. a bank security deposit box). Your local police should be able to advise you on the best way to store serial numbers. If you have a lot of valuable jewelry, consider locking it in a bank security deposit box, or at least take a photo of each valuable item with a description and ask your solicitor to keep a copy of this information for you. 7. The arts go marching one by one Remember those ant-farms from your childhood? The formicariums (enclosed ant colonies) seem to make their way in and out of our lives, providing a fascinating, albeit brief, study of another life-form. In a modern and elegant twist, FRAMEicariums have taken the ant farm concept and given it a makeover by way of salvaged picture frames and colour-coordinated schemes of sand. The contemporary design is likely to suit adults and children alike, with natural art that is constantly changing.

Latest Property News from Ted Hanson

Friday 24 September 2010 Illawarra Fly Treetop Walk Less than 2 hours from Sydney, The Illawarra Fly Treetop Walk is one of the regions newest attractions. Nestled amongst temperate rainforest, the Treetop Walk takes you along the picturesque Illawarra escarpment and offers inspiring views from Bass Point in the South to Bundeena in the North. Attraction features: 500 metres long at an average height of 25 metres 'Knights Tower' at a height of 45 metres 280km/hr wind speed design Cantilevers can hold a maximum weight of 28 tonne or 800 wombats!! The Treetop Walk holds an average of 400kg/m2 1. Strong upswing in dwelling starts National dwelling commencements rose again in the June quarter as the effect of previously low interest rates and government stimulus measures continues to flow through into the work pipeline, according to figures released this week by the Australian Bureau of Statistics. The total number of dwelling units commenced in the June quarter 2010, seasonally adjusted, rose by 0.8 per cent to 44,899 to be up by 43.8 per cent on the June quarter 2009. The number of private new houses commenced fell by 3.9 per cent to 27,154, up 18.8 per cent from the corresponding quarter a year ago. Commencements of other dwellings, the category that includes apartments, rose by 11.5 per cent in the June quarter to be up 74.7 per cent on the June quarter 2009 figure. The number of public sector dwellings was up 3.9 per cent in June to be up 397.2 per cent on the same quarter a year ago. Peter Jones, Chief Economist for peak building and construction industry association Master Builders Australia, remarked that the fourth consecutive quarterly increase confirms a recovery of residential building after five years of insufficient activity. "This year's bounce-back in dwelling commencements has offset the ratchet down in activity that occurred in the previous year in the wake of the global financial crisis", Jones said. Jones did suggest, however, that questions remain over the durability of the upturn, with forward indicators already signalling a tapering-off in activity. "A period of interest rate stability from the Reserve Bank will now be critical to ensure the upswing in the interest-rate-sensitive residential building sector can become entrenched." "Australia needs a long and strong housing upturn to overcome a massive shortfall in dwellings that has developed", Jones said. "Three or four years building 200,000 plus dwellings per annum is needed to not only meet the demands of a growing population, but to make inroads into the massive deficit of housing that has accrued through a long phase of under-building", he concluded. 2. Planners back Green Star Communities Sustainable communities were given a green light this week, with a decision by industry bodies to set standards and benchmarks for their development. The Green Building Council of Australia (GBCA) and Planning Institute of Australia (PIA) have signed a memorandum of understanding which will see both organisations work together on the development and delivery of the Green Star Communities rating tool. According to the GBCA's Chief Executive, Romilly Madew, this MoU confirms Green Star Communities as a project of national significance. "This MoU is particularly momentous, as best practice planning is vital if we are to deliver communities that are liveable, sustainable and adaptable", Ms Madew said. According to the Acting Chief Executive Officer of PIA, Kirsty Kelly, the MoU is a clear signal that planners are committed to sustainable communities. "Members of PIA will play an important role in the success of Green Star Communities by contributing urban, environmental and social planning information that will help establish best practice standards in the tool," Ms Kelly said. The Green Star Communities project continues to build momentum, with a number of instrumental sponsorships and partnerships announced in the previous few weeks, including an MoU with every single state government land organisation in Australia. "Working closely with PIA will enable us to establish planning benchmarks that not only protect our natural environment, but also support the development of liveable, prosperous, dynamic and connected places for generations to come," Ms Madew added. The Green Star Communities project is being led by the GBCA in conjunction with partner, VicUrban, and supported by principal project sponsor, Rock Development Group, together with other sponsors Grocon, Brisbane City Council, Barangaroo Delivery Authority, Lend Lease, Sydney Harbour Foreshore Authority, Brookfield Multiplex, Aurecon, University of Melbourne, Stockland, Sustainability Victoria, City of Sydney, Mirvac and BlueScope Steel. Every government land organisation (GLO) in Australia has also agreed to theMoU and will participate in the tool development. The GLOs are: Landcom (NSW); Landcorp (WA); VicUrban (VIC); Land Management Corporation (SA); Land Development Agency (ACT); Urban Land Development Authority (QLD); Hunter Development Corporation (NSW) and Land Development Corporation (NT). 3. Boom goes west Australia's fastest-growing region is no longer the Gold Coast but the Western edge of Melbourne, according to researcher KPMG. Analysis by KPMG demographer, Bernard Salt, shows that the municipalities of Wyndham and Melton added 18,000 new residents over the 12 months to June 2009, as compared with 17,000 added to the Gold Coast. "This extraordinary growth in Melbourne's West has come out of the blue," says Mr Salt. "Just ten years earlier this region was attracting approximately 4,000 new residents per year, but is now attracting more people than the Gold Coast." Mr Salt says housing affordability may be a key driver of growth in the West. The area has also attracted corporate growth, such as manufacturing and head offices, and has been a focus of major infrastructure spending including road and rail links. The report shows that the region's demographics are changing, with `kids and grandparents on the up'. "Over the last 20 years most growth in Melbourne's West has been in the `family' stage of the life cycle (between 30 and 55). "However, over the next 20 years there will be a surge in the under-20 population underpinning demand for schools and sporting facilities", Mr Salt says, adding that a surge in the grandparent population (aged 60-80) will mean more demand for leisure facilities, health care, wellness centres and a focus on value. 4. Bushies want clean energy, too The idea that city people are more eager than country people for the large-scale development of clean energy has been de-bunked, according to a new poll released this week. Commissioned by the Australian Conservation Foundation (ACF), the Auspoll survey of 1,500 people showed rural Australians are more likely to support large-scale clean energy than their city counterparts. The poll found 85% of rural respondents and 82% of urban respondents want the government to "make clean energy cheaper quicker, through large scale development of solar, geothermal and wind power in urban and regional Australia". "These results may surprise some people, but they send a clear message to the new minority government that whether they live in the city or the country, Australians overwhelmingly want government leadership to promote clean energy", ACF climate change campaigner Phil Freeman said. "The new parliament should introduce incentives that give large scale renewable energy a major boost, so we can have big solar plants, wave power and geothermal power, all linked to a renewable-friendly electricity grid. "Putting a price on pollution would unlock enormous investment potential for clean energy and new sustainable enterprises in regional Australia. "On the other hand, regional and farming communities will be badly affected by extreme weather, water shortages and drought if we ignore climate change", Mr Freeman warned. 5. Goldilocks caught red-handed Sleeping on the job rarely pays off, but perhaps more so when you're a burglar and the job is the house you're looting. In what local news sources have referred to as the `goldilocks incident', residents in Malaysia returned home to find their living room in a mess and a man napping on a couch upstairs, the BBC reports. The burglar, who had snatched over AU$3000 in watches and jewelry, woke up and escaped through a window. After a brief chase, police apprehended the man. 6. Real property or personal property? When selling or buying your home, make sure you understand exactly what is being sold along with it. The general rule is, if it is attached to the structure or the ground, it is real property and stays with the house. But this can be confusing. So if you want to make sure an item remains in the house list it specifically in the contract. It's better to do this than "assume" anything, and of course, if you have any questions about inclusions seek confirmation from your legal representative.

House prices up 0.4% in July

RP Data predicts little growth for the remainder of 2010

Australian house prices grew by a seasonally adjusted 0.4% during July, following on from a 1% fall in June, according to the latest RP Data-Rismark figures.

The research found that in the July quarter, national city dwelling values were down 0.8% with a median dwelling price of $465,000. However, prices over the year were up by 9.7%.

Darwin performed the strongest in the three months to July, with values up 1.1%, while Brisbane and Perth both recorded a 2.5% fall.

Sydney values rose by 0.3% during the quarter, with Melbourne values falling by 1.1%. Adelaide prices rose by 0.2% and Hobart prices also fell by 2.4%.

RP Data research director Tim Lawless said in a statement the result shows the housing market is recording a soft landing, following a boom over the past 18 months.

"In the period between end 2008 and March 2010, Australian home values rose by 16.3%. Yet monthly growth rates have declined consistently since the start of the year," he said.

"RP Data and Rismark expect to see the market track sideways over the second half of the year. There is the possibility of modest gains if mortgage rates remain in check and economic conditions improve."

Rismark International managing director Christopher Joye also said in a statement the figures dispel the myth that housing prices would begin to fall.

"Australia's housing market appears to have gravitated back to a no-to-very low growth trajectory, as we forecast."

"Looking forward, I would expect to see the major banks pushing housing credit growth a little harder as profitability gains – driven by reduced impairment provisions across their business lending books – dissipate."

This comment comes as a number of banking institutions, including Westpac, BankWest and non-bank lender Yellow Brick Road, have introduced a number of measures in order to attract first home buyers.

"Australian housing credit growth has been running at record low levels, and has experienced a downward trend since 2006. An increase in credit growth back to reasonable single-digit rates will provide further support to the market in the next 12 months."

Source Patrick Stafford Smart Company