The latest RP Data Capital Markets Report revealed “a broad-based recovery” in capital city dwelling values.

While values had dropped 7.4 percent between October 2010 and May 2012, they had now climbed back up by 3.3 per cent in the nine months since May.

Each of Australia’s capital cities had recorded a lift in dwelling values since their respective low points, from a 2.1 percent rise in Brisbane to 11.2 percent in Darwin.

Tim Lawless of RP Data said while a recovery was underway the pace of growth would be modest and that would be the case for the rest of the year.

“The growth in dwelling values since the end of May has averaged just 0.4 percent month to month,” he said.

Auction clearance rates remained strong, with big auction markets, Melbourne and Sydney, consistently higher than 60 per cent.

Vendor discounting and days on market had dropped and the number of property sales had lifted.

Mr Lawless said the recovery could be affected by higher rates of unemployment and people being under employed.

“Additionally, there is some concern about the impact of a slowing resources sector and a dwindling pipeline of infrastructure spending,” he said.

“Overall, we view the Australian housing market with mild optimism”

CASEY Council wants to sponsor a health summit aimed at getting daily, compulsory sport and physical education into schools.

The council wants state and federal government leaders to push for the idea nationally, to head-off what it sees as a crisis in health.

Cr Geoff Ablett, a former Hawthorn footballer, said Australia was rapidly becoming an obese nation and decisive action was needed while children were still at school, to break the cycle.

He told last week’s council meeting, children should be taught what their bodies needed.

“We should have moved on something like this a long time ago,” Cr Ablett said.

“It should be a part of learning through their school years.

“It could have a huge impact on overall community health.”

Cr Wayne Smith said he supported the idea, but could not believe it would get the nod with those responsible for Year 12 students.

“It just wouldn’t fit into the curriculum. It couldn’t accommodate it,” he said.

Councillors decided invite Prime Minister Julia Gillard, federal Opposition leader Tony Abbott and all state and federal ministers of health, sport and recreation, education and community involvement, to the planned summit.

Also on the guest list will be all opposition spokesmen and women in the same disciplines.

“We want to talk with them about the well-evidenced health and fitness benefits of making health and physical education programs – both practical and theoretical – compulsory in schools on a daily basis in Australia,” Cr Ablett said.

And chief executive Cameron Clyne has rejigged the group’s executive team and vowed to dramatically improve NAB’s technology systems as part of the shake-up.

In its first meeting for 2013, the Reserve Bank has decided to keep rates on hold for at least another month.

The official interest rate remains at 3 per cent.

The decision comes as some positivity has returned to the real estate market with buyer enquiry up and auction clearance rates stronger in the final quarter of 2012.

The RP Data-Rismark January Home Value Index, released today, revealed that median prices rose in every capital city except Darwin in the first month of 2013.

Brisbane, Sydney and Perth are leading the housing recovery among the major capital cities, with median increases of 2 per cent, 1.8 per cent and 1.7 per cent respectively.

National values rose 1.2 per cent for the month, according to an aggregate of the eight capital cities.

Additional data released this week from the Housing Institute of Australia and Australian Property Monitors also suggests a nationwide housing improvement.

RP Data National Research Director Tim Lawless believes the results reflect a strong start to 2013, which should culminate in a full housing market recovery.

“We see growth of around 3.5 to 4.5 per cent by the end of the year, tracking along with CPI or wages growth,” Mr Lawless said. “At that stage, we’ll probably be able to say the housing market has fully recovered, because it will be around its 2010 peak values.”

The January results have almost completely made up for a negative end to 2012, with national growth now at 1 per cent for the quarter.

Sydney’s growth of 1.8 per cent sees the median dwelling price move to $576,500, the highest in the country.

Hobart has the lowest median of $315,000, but performed the strongest of all the capitals in January, with growth of 4.5 per cent.

Year on year results have moved firmly into positive territory with values in capital cities up 1.8 per cent since this time last year. Melbourne is the only city to not record positive growth in this time, with a slide of 0.4 per cent.

“The typical capital city house took 55 days to sell in December last year, a vast improvement from the recent high of 76 days recorded in February last year,” Mr Lawless said.

“Vendors are now discounting their initial asking prices by an average of 6.6 per cent compared with 7.3 per cent a year ago.

“Buyers are losing some of their negotiation power and homes are selling faster,” he said.

The report came in the wake of a release from Australian Property Monitors claiming that all capital cities recorded house price rises over the December quarter for the first time since March 2010, with Sydney recording a record median of $656,415.

Analysts believe that the stronger market conditions may signify an end to RBA interest rate cuts.

“Rates should remain steady for the year, with values improving, consumer confidence heading in the right direction from a low base and other indicators up,” said Mr Lawless.

“The wildcard is unemployment. If unemployment gets up near 5.5 to 6 per cent, we may see rates dropped by a further 25 basis points.”

Read more: http://www.news.com.au/realestate/property-market-bounces-back/story-fncq3era-1226566593801#ixzz2Jmwgplp7

The Victorian Civil and Administrative Tribunal expects to collect an extra $22 million over the next three years from proposed fee increases and new charges.

The cost of lodging a basic small claim against a trader over faulty goods will more than triple – from $38 to $160 – under the planned changes.

This is likely to affect about 8000 people a year.

And as many as 3000 ordinary planning applications a year would attract a $1000 fee under the new system, up from $322.

Some tribunal cases will be slugged with new hearing fees of at least $360 a day, and many people will have to pay up to $300 a day for mediation, which is currently free.

Complex cases heard over more than one day, by more than one VCAT member, will attract a new $1800-a-day fee after the first day.

Full details of the revised pricing scheme are revealed in a regulatory impact statement posted on the VCAT website on January 2.

If approved, the increases are expected to start taking effect from March, and will be phased in over three years.

Consumer Action Law Centre policy director Gerard Brody said he was particularly concerned at the significant price rise proposed for small claims against traders.

“While we do recognise there should be some form of user pays … we are concerned this will put people off, and reduce access to justice,” he said.

Mr Brody said the proposed new charges were substantially higher than in other states.

The regulatory impact statement outlines four options and notes that all – including the preferred model – “imply some reduction in effective access to justice”.

Significant fee increases could discourage applicants from bringing small claims in particular, it notes.

“However, given the significant dispute resolution costs incurred by VCAT, this is considered to constitute a necessary change to current incentives,” it says.

The statement notes that poor data collection by VCAT about costs meant officials had been forced to make “intuitive judgments” when setting fees.

Attorney-General Robert Clark’s spokesman James Copsey last night blamed the previous Labor government for failing to keep VCAT fees in line with the cost of running the tribunal.

An increasing and unreasonable share of the cost of running VCAT was falling on taxpayers, he said.

“The fee changes proposed … aim to reduce the burden on taxpayers and reinstate a reasonable balance between taxpayer and user funding.

“Most fees payable by VCAT users will remain well below the full cost of VCAT proceedings. No-fee and low-fee arrangements will continue in various lists, and waiver provisions will continue to apply in cases of hardship.”

The proposed changes will expand the two-tier model for major cases, which allows some users to pay more to have a matter heard faster.

VCAT fees have historically been set at low levels since it was established in 1998 to provide quick, cheap access to dispute resolution.

Source Herald Sun

The REIV December quarter medians confirm strengthening demand and an increase in housing prices in Melbourne.

The median house price in Melbourne increased by 7.8 per cent to $555,000 from $515,000 (revised) in the September quarter. The median price for units and apartments increased by 4.2 per cent to $456,000 from $437,500 (revised).

REIV CEO Enzo Raimondo said that “strengthening demand has resulted from a combination of improved Victorian consumer confidence, four interest rate cuts and the seasonal increase in activity in the December quarter.

“Underpinning this increase has been an estimated 16 per cent increase in sales transactions in Melbourne compared to the December quarter in 2011.

“Overall transaction numbers remain low in historical terms and that may cause some ongoing fluctuations, but if improvements in confidence continue 2013 will see improved activity and an increase in sale values.

“Some of the higher increases in demand were recorded the more expensive suburbs where buyers have found significant value: Kew, Brighton East, Essendon, Hawthorn,Glen Iris and Fitzroy North. These suburbs recorded very strong clearance rates as buyers competed for well priced property.

“The stronger growth in the upper end of the market is a reflection of the larger falls in prices recorded in 2011. Healthy growth was also recorded in the more affordable market segments with the median increasing by 4.5 per cent in middle suburbs and 3.6 per cent in the outer suburbs.

“Abbotsford has become the first suburb with a million dollar median unit price as a result of 20 sales valued over $1m in one current development. This will likely drop below a million in later quarters.

“Overall house prices in regional Victoria remained stable with a median of $305,000. However key centres continued their steady performance with the median in Geelong increasing by 8.1 per cent to $395,000: by 4.7 per cent to $310,000 in Bendigo and by 1.8 per cent in Ballarat to $290,000,” Mr Raimondo concluded.

Source REIV

Analysis of the 3.78 million words used in selling property on realestateview.com.au  in 2012 reveals the different approach used by real estate agents to sell expensive and affordable homes.

REIV Manager of Policy and Public Affairs, Robert Larocca said that real estate agents are experts at selling and through their daily interaction with buyers develop a very good knowledge of what makes a home stand out.

“In Melbourne’s million dollar suburbs buyers respond well to terms which highlight the proximity of the home to good schools and the presence of high end features.

“Those looking in the million dollar market clearly want something special so words such as ‘Gaggenau’, ‘European oak, ‘coffee machine’ and ‘premier schools’ are very popular.

“A very different approach is taken in the affordable segment where the emphasis is on cost and potential returns for investors.

“In the affordable segment the most prolific words include ‘per week’, ‘portfolio’, ‘tenant’, ‘vacant’ and ‘possession’.

“The use of the term ‘first home buyer’ was also popular for homes selling for less than $400,000.

“Looking at all advertisements, regardless of the price segment, shows the importance of highlighting a home’s spaciousness. Not only is the word ‘space’ very prolific but so too are the words ‘area’, ‘large’ and ‘open’.

“An analysis of the words used not only reveals common features in marketing a home but is also a reflection on what buyers are looking for,” Mr Larocca concluded.

Top 10 selling words in 2012

Source REIV

The availability of rental homes continues to improve with a vacancy rate of 2.3 per cent being recorded in Melbourne and 2.6 per cent in Regional Victoria over the month of December last year.

Within Melbourne the highest level of vacancies was in the middle suburbs where a rate of 2.9 per cent was recorded. This is well above the 2.3 per cent in November and 1.2 per cent a year ago.

The inner suburbs and those along the Mornington Peninsula recorded a vacancy rate of 2.5 per cent whilst outer suburbs recorded a contraction to 1.3 per cent.

The improved level of vacancies has not yet translated into lower rents being asked by landlords; however if the trend continues, as it is expected to, it will in time result in overall rents either stabilizing or reducing in nominal terms. REIV research indicates that they have generally fallen in real terms as the higher availability of rental homes has improved.

It must be noted that there will be local areas and specific property types where there may still be a low level of vacancies.

In regional Victoria the level of vacancies remained comparatively high in most regional centers. A vacancy rate of 3 per cent was recorded in both Geelong and Ballarat. In Shepparton and Warrnambool the rate was just above 4 per cent. The two exceptions to this were Bendigo and Wodonga where the vacancy rate was 0.8 per cent.

The median rent for a house in Melbourne increased incrementally from $380 per week in November to $381 in December. In regional Victoria it was stable at $300.

Source REIV

The Housing Industry Association residential land report, released yesterday, showed residential land sales fell heavily the quarter before last.

The number of sales tumbled 17.8 per cent in the three months to September, compared with the previous quarter, to about 12,000.

While the tally was up on the same quarter a year earlier, Housing Industry Association chief economist Harley Dale said the report signalled a challenge to Australia’s building sector in the months to come.

“This latest update highlights the uncertainty around whether the new home building sector can mount a recovery that is both sustainable and of the magnitude Australia’s population and economy require,” Dr Dale said.

“Overall, residential land sales signal a rocky road for any new home building recovery in 2013.”

Read more: http://www.news.com.au/realestate/investing/poor-sales-pose-challenge/story-fndbarft-1226561565338#ixzz2J13124sN

Real Estate Salesperson

• An opportunity exists to join our company with no trade boundaries, existing databases, flexible hours with no Sundays, must be experienced with the following attributes:• Enthusiastic

  • Reliable

  • Keen to learn and improve their skills

  • Well groomed

  • Has good communication skills

  • High ethical standards and integrity

  • Computer Literate

  Remuneration package based on experience and skill, must have an Agent’s Representative Certificate or Full Estate Agents Licence, current drivers licence and a reliable motor vehicle are essential. If you fit this profile, please submit your resume with a covering letter expressing your interest to:

All Applications to be submitted via email to barry@hillre.com.au or posted to;

Attention Barry Erlenwein

96 High Street,

Berwick 3806

Please note, only short-listed candidates will be contacted.

All applicants treated in confidence.

MELBOURNE’S property market has posted its weakest performance in nearly a generation as home prices continue to fall despite deep interest rate cuts.

Defying hopes of home owners for a recovery, the city’s property slump is set to continue as new figures show prices fell nearly 3 per cent last year.

Values have now slid 8.4 per cent from their peak just two years ago – the biggest fall for the Melbourne market since price records began in the mid-1990s, according to research firm RP Data-Rismark.

But while industry experts warn that a city-wide recovery could be up to two years away, low mortgage rates and price falls in many popular inner and middle suburbs are tipped to make these enclaves more affordable.

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”The interest rate cuts have probably shielded the market somewhat from bigger falls over the last year, but I think Melbourne will continue to be one of the weakest performing markets in the country,” said RP Data analyst Cameron Kusher. ”I wouldn’t be surprised to see values fall again over the next year.”

The prediction will be welcome news for buyers but a bitter pill for home owners, who saw prices soar nearly 37 per cent in 2009-10. That boom, fuelled by record low interest rates and the generous first home buyer grants on offer during the global financial crisis, is being blamed for the serious affordability problem in the city.

”Prices have gotten too high in Melbourne and it hasn’t taken its medicine yet,” Mr Kusher said.

BIS Shrapnel analyst Angie Zigomanis said Victoria was facing a ”trifecta” of issues – a weak economy, unaffordable housing and an oversupply of new homes and apartments – that was blunting the impact of recent interest rate cuts.

”Melbourne came out of the blocks the strongest after the global financial crisis and many of the problems we’re facing now are the hangover from that,” he said.

House prices have continued to fall despite the Reserve Bank cutting the interest rate six times since November 2011. While the 1.75 percentage point fall has seen the cash rate match the GFC low of 3 per cent, mortgage rates remain at about 6.45 per cent as lenders have held back the full savings from borrowers.

However, some industry operators say the RBA’s moves have laid the groundwork for a recovery this year and the current conditions are creating rare opportunities for buyers.

”Auction clearance rates have improved and that’s directly related to the interest rate cuts,” said Nigel O’Neil, chief executive of agency Hocking Stuart. About 60 per cent of homes going under the hammer last spring sold, compared with barely half at the same time in 2011.

”There’s definitely evidence that suggests if the rate cuts continue – which is important – then the market will continue to strengthen,” Mr O’Neil said.

Richard Wakelin, director of Wakelin Property Advisory, said the decline in the cost of borrowing could be a ”tipping point” for buyers.

”Some people – those who feel pretty secure in their employment – are going to see that now is the time for them to make their move. Interest rates are well down, prices have come off in some areas, and that’s going to prove very attractive,” he said.

The price and interest rate falls come at a critical time for the Melbourne market, with a recent RP Data survey revealing it is cheaper to buy than rent a home in only six suburbs in the entire city.

Inner-city and bayside suburbs are expected to draw the most interest from buyers this year. ”Buyers in those markets are less exposed to job security, cost-of-living and interest rate movements, which means we’re likely to see some strength in the $1 million to $3 million price bracket,” APM economist Andrew Wilson said.

”It’s first home buyers and the outer suburban areas that will still be confronted with the same affordability and economic issues.”

Read more: http://www.theage.com.au/victoria/city-in-grip-of-property-slump-20130102-2c5oa.html#ixzz2IYL9wajw

All Australians must be concerned about the sale of our land to foreign investors. The headline in the Land 7/6/2012 stating “Australia in need of off shore investors” reflects and attitude which has prevailed to our cost for decades.

It is irrelevant that investment in farming is relatively small. We cannot buy land in China, the Arab States, Japan or any of the other nations buying our wealth creating assets whether land or companies. We have the highest interest rates in the world yet our assets our being bought by foreign countries, companies, hedge funds and superannuation funds because they want the profits our assets offer. And in the meantime we pretend the mining industry will save us, while 80% of our mining companies are foreign owned much of which is threatening farm land.

What is even more telling from the interview with Tom Mckeon CEO of Hassad, a Qatari Consortium, is that they have identified control of the supply chain including the land is the best way to ensure their food security. The issue is food grown here will not necessarily stay here to the benefit of Australia.  The scenario could occur where if the food is exported and not sold then the owners will not pay tax as they are growing it for their own use. Easy to do when you are a nation. These assets will not be added to our exports. Australia will no longer derive income from these assets. Some say they cannot export the land, but land is being bought in strategic parts of Australia by countries and this is an issue of sovereign risk.

Decades of our own Governments’ policies has already exacerbated the situation beyond the farm gate by allowing the control of the supply chain of all but one food commodity, rice, to be majority controlled by foreign interests. To add insult to injury these foreign owned companies do not pay the same tax as Australian companies (10% withholding tax), and control many of our export industries. Private companies dominate in beef and wheat exports and like countries are not transparent. Any wonder farmers are being forced to sell their farms because we have made them price takers not price makers.

Source AUSBUY

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More Information here http://www.hillrealestate.com.au/buying/property-details/?id=2079823

Situated within minutes walk to the lake, shops and schools this lovely modern home awaits a new landlord. Features include three spacious bedrooms with Walk in Robe and Ensuite to Master, Double BIR’s to other bedrooms, Formal lounge, modern kitchen with stainless steel appliances including dishwasher, family room, meals area, alfresco, access from the double garage, security intercom, air conditioning, ducted heating. Inspection by appointment. Finance to approved purchasers.

More information here http://www.hillrealestate.com.au/buying/property-details/?id=4120430

Recently renovated, this charming Tudor style home offers 4 Bedrooms, 2 bathrooms and generous back yard for all year round entertaining and ample room for the kids to play. From point of entry this home flows nicely. The lower level offers 3 bedrooms with build in robes, 2 bathrooms, one of the bedrooms features a beautiful bay window, formal and family living leading to the generous kitchen meals area. The upper level offers privacy with master bedroom, large ensuite and spa bath leading out to our own private balcony. Out to the large pergola bbq area for the ciming spring/summer months entertaining. Positioned on a more than generous 611m2 (approx) allotment this 4 bedroom home has all the boxes ticked for either first home owner or astute investor. Added extras; enclosed single car space with remote, open fireplace, ceiling fans, ducted heating, refrigerated cooling, alarm, skylights, ducted vacuum, all within close proximity to booming Fountain Gate shopping complex.

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The REIV has released a first home buyer’s guidewhich highlights the average weekly repayment required to buy houses and units classified by size across Melbourne, Ballarat, Geelong and Bendigo.

REIV CEO Enzo Raimondo said that the guide helped first home buyers to target suburbs and dwelling types according to their budget.

“In one easy glance the map shows the level of weekly repayments needed for units of between one and three bedrooms along with houses with between two and four or more bedrooms.

“For example it shows that the average weekly repayment for a 3 bedroom house in Werribee was $373 whilst a 2 bedroom unit in Reservoir required $496 per week.

“It also shows that there were 133 suburbs in which a 3 bedroom house could be bought with a mortgage repayment of under $430 per week.

“The average first home buyer mortgage repayment in Victoria during the September quarter last year was $414 per week and this is used as reference point.

“The guide presents a realistic appraisal of the actual cost of buying by taking into account all the costs; conveyance fees, stamp duty and mortgage insurance. The benefits enjoyed by first home buyers; lower stamp duty and the First Home Owners Grant are also taken into account.

“The guide also assumes the buyer has a 10 per cent deposit and an interest rate of 6.4 per cent.

“As the data is based on median prices it is important to note that homes will be available for less and more than the median as it is simply the middle sale in the series.

“The guide also takes into account the 30 per cent lower stamp duty paid by first home buyers.

“Market conditions provide excellent opportunities for first home buyers this year, interest rates are at historical lows and prices remain below their peaks,” Mr Raimondo concluded.

The guide is available as a clickable map and it will be updated on a regular basis.

Note: this data is indicative only and is calculated based on a range of assumptions including the use of median sale prices. As a result properties will be sold for prices above and below what is used in the guide.

REIV CEO Enzo Raimondo said that 2012 was ending with the market in a better position than it was a year ago and improved levels of affordability would ensure buyers continue to be well placed in 2013.

“There are three reasons to be confident about prospects for the market in 2013: consumer confidence levels are above this time last year; the clearance rate is higher than this time last year; and overall prices have been stable.

“Affordability is at reasonable levels with prices remaining below their peak and interest rates at historical lows.

“The inner city is where buyers will find the best bargains in 2013 as the median is 10.4 per cent below its peak compared to 9.3 per cent in the middle suburbs and 7.9 per cent in the outer suburbs.

“Regional Victorian prices have been much more stable. In Geelong, the median is 1.8 per cent below peak; in Ballarat, it is 2.1 per cent below; and in Bendigo, prices are only slightly (0.1 per cent) below peak.

“If consumer confidence continues to slowly improve it should encourage more buyers into the market and that will drive capital growth. As supply and demand is in much greater balance, any capital growth in 2013 will only be moderate.

“First home buyers have clearly responded to lower prices and interest rates with around 18 per cent more than in 2011. With stamp duty cuts increasing to 30 per cent on 1 January, conditions will continue to improve for them,” Mr Raimondo concluded.