Posts Tagged ‘Tim Mooney Photography’

rsimeon

Sydney has a new property face – you’ll be either happy or angry


With housing affordability now front and centre, it will be a very interesting meeting next week when the Housing Ministers meet to explain what they are doing to address these anomalies to the Treasurer Scott Morrison.

In NSW for example,there are two very big property elephants about to enter the room in November and December that most don’t know about and they will have massive impacts in the clear majority of Sydney suburbs.

The first are the unprecedented reforms to strata laws which commence on November 30, 2016. Presently with strata properties a developer can’t acquire the entire block without the owners being in 100 per cent agreement, but from November 30, … more »

rsimeon

Property debate is barking up the wrong tree

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It is only when politicians enter the property debate that we get a clear position on just how very little they actually know about this topic. Whilst encouraging that they want to participate in this highly contentious debate one would expect that they also may do some research. The real reason why they are now jumping (or falling) into this debate is that internal polling has clearly identified this as becoming a significant electoral issue.

Yes, one of the remedies is supply, as the politicians have identified, although they are comprehensively wrong on this issue. The real reason as to why we are witnessing record property prices is because we have … more »

rsimeon

The bubble, the bureaucracy, bungles and no vision

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Yes, an apt description for our property markets on the east coast of Australia today. We keep reading about Australia’s housing affordability crisis, the almighty property bubble together with our massive household debt with very little said as to what caused this and how do you fix it? A subject our politicians refuse to discuss in any detail despite being complicit in causing the problems that we see today.

The problem at the moment being that Australia has approximately 10,000,0000 dwellings with a value nearing $6.000 trillion with the majority wanting to live on the east coast of Australia. To try to add some perspective nobody was talking about housing affordability … more »

rsimeon

It’s time for some very BIG property decisions


Kudos to the NSW government by becoming the first elected government in NSW to achieve a cash positive financial position – quite amazing that never before has this been achieved. The words ‘debt free’ don’t exactly go hand in hand with governments these days as we have become too accustomed to the monetary phrases of debt and deficits.

NSW Treasurer Gladys Berejiklian confirmed this week that NSW would post a $4.7 billion surplus in 2015/16 which just so happens to be $1.3 billion more than predicted in the June budget just four months ago. Still a massive turnaround from 30 June 2015 when net debt sat at $5.5 billion to a … more »

rsimeon

You want an Inquiry? Have one on Australian real estate

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Forget about a royal commission into our banks – what Australia really needs is a full and transparent inquiry into the Australian property markets. For example, Australia’s population currently sits at 24 million people. By 2026, our single households are projected to increase by a staggering 38.7 per cent. Just imagine the terms of reference?

Why is Sydney in a pattern where presently we see the lowest amount of homes (established) on the market? Why are we seeing the lowest ever number of first home buyers recorded sales? What exactly is the impact of negative gearing on Australian residential real estate? What is the precise impact of state taxes on our … more »

rsimeon

Some markets are correcting – other markets booming

As many predicted some time ago, the newly created investment market, where we have seen approvals for high-rise apartments hit levels never seen before, will now see a massive correction. In December 2008, the rules for off-the-plan apartments had a significant change when the ratio for foreign investors was moved from 50 per cent to 100 per cent. Developers could not believe their luck, as this decision created new rivers of gold, albeit an eight year run.

The governments then got involved by increasing stamp duty for foreign buyers, the Chinese government shut down the facilities permitting vast amounts of monies to be withdrawn from China and the major Australian banks … more »

rsimeon

Will the RBA governor go out with a bang?

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That’s the big question that many are thinking with his current running commentaries on the Australian economy – but will he tee – off on exactly what are the major problems facing our economy? I hope he does with his ten-year term expiring on 17 September having taken over as the Head Teller back on September 18, 2006. Interesting to note that over that time he has left the cash rate alone on sixty-seven (67) occasions, cut the cash rate on twelve (12) occasions and increased the cash rate on six (6) occasions. Surprising how time flies when you’re having fun as the last cash rate increase was back on … more »

rsimeon

Blame our Governments for high property prices

With another federal election now passed all the political rhetoric about infrastructure will be buried until the next election in three years’ time. Sadly, in Australia our elected governments are only interested in the one thing – taxes.

Since the early 1980’s politicians have conveniently discussed the construction of a high – speed rail link along the east coast where typically nothing has happened, although you can be guaranteed that it will be mentioned again prior to the next federal election. In 2013 the High Speed Rail Study Phase 2 Report estimated that a conventional High Speed Rail Express trip from Sydney to Melbourne would take 2 hours and 44 minutes … more »

rsimeon

Time for Governments to Roll Out Incentives

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I was reading a piece this week at MacroBusiness where it was pointed out that it has been 24 years since we went through the global recession. Then 8 years later we went into the Tech Wreck, then 8 years after that we hit the Global Financial Crisis (GFC) and now 8 years on we have hit Brexit – or as Australians will soon call it Bex – it (as it will probably cause some major headaches.)

Whilst Australia continues to post some very positive data, we need to pay closer attention to the data post June 30 as we now enter a period of uncertainty. Having said that, this should … more »

rsimeon

Home truths needed on housing debate

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Enter housing price growth into the topic although make sure if you want to be right that you always select the plural. For example, those in the real estate industry always focus on suburban or post code housing price growth. What we are reading now are housing price growth predictions of significant drops for Sydney and Melbourne which just so happen to be Australia’s largest and most active markets.

Allow me to put this into perspective given most have failed miserably in educating readers as to what exactly this means. Let’s say for the sake of this argument you own a house in Mosman – in six months’ time the value … more »

rsimeon

Hypothetically speaking what happens ….

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If Labor wins the election and removes negative gearing from existing properties and we see a massive price correction in the newly built apartments because many would slide into negative equity – the banks then come in with forced sales. Investors then can’t buy these properties because they now fall into the existing category. Actually this is not a hypothetical as this is already happening in Melbourne and we are starting to see these newly created markets with a death wobble in Sydney.

The problem for example in Sydney is that tens of thousands of new apartment blocks are being created with absolutely no transport infrastructure to support them. You can’t … more »

rsimeon

The Property Storm Sydney Had to Have

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Is this quote by Johnny Isakson the perfect property quote – “In the real estate business you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.”

Let’s focus on the part of governments in property – more particularly as it relates to Sydney and its many niche property markets. Local governments are being amalgamated so that the NSW government can put on its developer cap and start approving thousands upon thousands of new developments. They identify overseas buyers as the driving force so they then introduce higher … more »