Trends in 2011

20-Dec-2010

 

Looking toward 2011 there are a number of trends that will influence the local residential property market.

Interest rates and housing affordability

House prices may have stabilised over the past six months but the cost of home ownership has not. As a result of multiple increases in interest rates, which have not been matched by higher incomes, the affordability of housing has been substantially eroded over the past 12 months. Further interest rate increases would have a negative impact in 2011. As a result, in 2011 suburbs at or below the median will increase in popularity.

Auction stock levels

Many home owners looking to sell in 2011 will have watched the performance of the auction market over the last few months and noted the drop in the clearance rate to around 60 per cent. This is likely to lead to a number of sellers looking to use private sales rather than auctions as the selling method in the same way that high clearance rates in 2009 led to more auctions in 2010. This is then likely to increase competition for the homes at auction.

First home buyers

With the promise of a 20-per-cent cut in stamp duty from 1 July 2011, we are likely to see a small increase in first home buyers in the second half of next year.

Population pressure

There still remains a substantial gap between the Victoria’s population growth and the supply of new dwellings; this gap won’t be closed in 2011, resulting in ongoing pressure in all segments of the housing market.

 

http://www.reiv.com.au/news/details.asp?NewsID=1030

Stamp duty cuts to help First Home Buyers

6-Dec-2010

 

The REIV has welcomed the commitment by the new State Government to cut stamp duty for all eligible first home buyers by 50 per cent over the next four years. This policy will be implemented in stages, with a 20 per cent cut on 1 July 2011 and then 10 per cent each year thereafter until 2014.

We have also welcomed the commitment to maintain the existing current first home buyers grant and bonus for new homes.

These policies will assist in addressing affordability for first home buyers.

This means that as of 1 July 2011 the first home buyer of an established home with a value of under $600,000 will be entitled to a 20 per cent cut to stamp duty and the $7,000 First Home Buyer Grant.

• On a home that cost the buyer $450,000, the current stamp duty payable is $18,970. On 1 July that will drop to $15,176. In addition, the first home buyer will be entitled to the $7,000 grant.
• On a home that cost the buyer $565,000 the current stamp duty payable is $28,970. On 1 July that will drop to $23,176. In addition, the first home buyer will be entitled to the $7,000 grant.

Buyers of a new home in metropolitan Melbourne will retain an entitlement to the bonus worth $13,000 and those buying a new home in regional Victoria will retain their entitlement to a total of $20,500.

A promised new policy will see farmers aged under 35 exempt from stamp duty on the first $300,000 worth of agricultural land purchased. Depending on the final details, this could save them up to $11,370.

First home buyers who are planning to buy a home from the middle of next year should take the time to study the detail, including eligibility requirements, when they are deciding what and where to buy.

http://www.reiv.com.au/news/details.asp?NewsID=1026

Lots of give, less take at Albert Park exhibition

4 Dec 10 @ 08:00am by Sally Spalding

Andrew Mattock. Picture: Jason Sammon.

ARTWORK by Andrew Mattock is just hanging around. Until it gets switched.

With 140 pieces of art mounted at Gasworks, Albert Park, Mattock is offering visitors a chance to take a painting away with them if they leave a painting in its place.

“I’ve got no expectations in terms of the quality of art. I can’t be a judge on what they leave,” Mattock said.

“The parameters are that the offer is there and we will abide by that.”

Mattock said his work was valued between $1800-$2300 if purchased in a gallery.

“Some ideas are worth doing even if they are mad,” Mattock said.

“It’s a flashback to the 1960s; it’s a hippy thing.”

The dimensions of the artwork that need to be hung in place of Mattock’s work are 90cm x 60cm or 120cm x 90cm.

“It has to fit in the space that it has replaced.”

Mattock said he will be fascinated to see what is left on the walls at the exhibition’s end.

“A piece of work that comes in and goes on the wall may go again.”

Mattock’s exhibition, called Give and Take, opened on Friday, November 26.

It will be on show until December 12. Pictures can be exchanged on Saturday Dec 4.

Tis the season – christmas run 2010

Join in the festive spirit by participating on Wednesday 8 December in the 2010 Emma & Tom’s Christmas Run at Albert Park!

Catering for both serious runners and those participating for fun, the 5/10km run or walk around Albert Park Lake includes a group fitness warm-up and post event activities including event presentations, spot prizes, food and drinks.

This year, we are not only encouraging participants to bring a present to put under the Christmas Tree for children in the Peter MacCallum Cancer Centre (our charity partner), but we are allowing participants to create an online fundraising page to raise funds for Peter Mac.

By joining Emma & Tom’s Christmas Run and raising valuable funds for Peter Mac you will be supporting cancer research and helping more people survive this disease.

Date: Wednesday 8 December
Location: Palms Lawns, Albert Park
Distance: 5/10km run and walk
Time: 6:30pm – 5km run/walk, 6:55pm – 10km run/walk

Web Link: Emma & Tom’s Christmas Run

Emma & Tom’s Christmas Run

Albert Park Lake  Albert Park Victoria  Australia.  View Map

RELATED WEB RESOURCES

Albert Park: Bike lanes help friends remember

24 Nov 10 @ 07:14am by Sally Spalding

Michael Frazzetto from the Friends and Family of Carolyn Rawlins. PIC: JASON SAMMON. N21CK507

CYCLISTS should have a safer passage to work with improved St Kilda Rd bike lanes.

The family and friends of Carolyn Rawlins, hit by a bus while cycling to work in 2008, are glad her death was not in vain, with $850,000 promised for better lanes.

Mrs Rawlins, a lawyer, was 12 weeks’ pregnant when hit by a tour bus while cycling in Swanston St.

She was riding to work on St Kilda Rd.

Michael Frazzetto, who cycles to work daily, was a close friend of Mrs Rawlins.

“We have lobbied the local councils and the State Government for improvements to St Kilda Rd,” Mr Frazzetto said.

“The Family and Friends of Caroline Rawlins are determined that Carolyn’s death was not in vain.

“We believe that the city be made safer for cyclists.”

Albert Park MP Martin Foley said $850,000 had been allocated to improve safety for cyclists on St Kilda Rd between Princes Bridge and Carlisle St.

“VicRoads will install green pavement at key ‘conflict points’, line marking and ‘vibra’ lines (bumpy white lines) to alert drivers when they are getting too close to a bike lane,” Mr Foley said.

“These improvements aim to increase safety and reduce crashes dramatically by reducing the chance of potential conflicts with cars.”

Latest REIV Quarterly Median Prices

	Sept Qtr 2010	% chg Jun-10 to Sept-10	Jun Qtr 2010	% chg Sept-09 to Sept-10	Sept Qtr 2009	% chg Sept-05 to Sept-10	Sept Qtr 2005
Houses	$565,000	0.9%	$560,000	20.5%	$468,900	59.3%	$354,600
Units & Apartments	$470,000	0.3%	$468,500	15.5%	$407,000	56.7%	$300,000

REIV releases September quarter median prices.

The REIV has released the September quarter median prices, which reveal that the median price of a house in Melbourne has increased by 0.9 per cent to $565,000 from a revised $560,000 in the June quarter.

REIV CEO Enzo Raimondo said that after 18 months of unprecedented growth that saw the median price increase by $160,000 from $405,000 in the March quarter 2009, price growth had levelled off.

“House prices have never been this high and it is clear that affordability will continue to be a significant issue, particularly for first home buyers.

“As Melbourne enters another spring selling season, it is clear the market is well balanced; more homes have been sold than any year since 2007 and buyers are benefiting from a very healthy level of supply.

“The more moderate market will make it easier for buyers this spring, particularly in the auction market, where a higher number of listings have resulted in a slight reduction in prices compared to the June quarter.

“Essendon was the standout suburb this quarter; its median house price increased by 14.4 per cent to $1.15M and it had a 79.1 per cent clearance rate for auctions. It also recorded a 13 per cent increase in the median price of a unit or apartment.

“Affordability continues to be a concern and buyers have targeted a range of suburbs with medians below half a million last quarter, for example Mooroolbark, Hillside, Melton and Frankston South.

“Driven by population growth, a number of the city’s growth suburbs, such as Roxburgh Park, Craigieburn, Tarneit and Werribee, also featured in the best performing suburbs.

“Similar conditions were apparent in the unit and apartment market, the median for a unit or apartment was $470,000 in the quarter, a minor increase of 0.3 per cent.

“Demand for housing in regional Victoria was slightly stronger than metropolitan Melbourne this quarter. The median price of a house in regional Victoria increased by 1.7 per cent from $300,000 in the June quarter, to $305,000 in the September quarter,” Mr Raimondo concluded.

http://www.reiv.com.au/home/inside.asp?ID=1048&nav1=1226&nav2=165&nav3=1048 

Recycled Christmas Crafts – save a buck this christmas and think green!

Have a recycled Christmas, crafts are a great way to make wonderful festive decorations while still being kind to the environment.

Make decorations from recycled objects.

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Decorating the home at Christmas is part of the tradition and helps to make the festive season just a little bit extra special. The cost of decorations, however, can mount up both in financial terms and also in the impact on the environment. One way of combating this is to make Christmas decorations from discarded material.

Recycled Christmas Crafts

With a little imagination it is possible to recycle a whole range of items into festive decorations. This has the twin benefits of keeping rubbish out of landfills and reducing the need to buy new items. Many items can be recycled and turned into interesting Christmas decorations.

Here are some ideas for making Christmas decorations from recycled items:

Christmas Chain Garlands

Adults and children alike can have great fun making Christmas garlands. These are very easy to do and require little in the way of equipment. Garlands can be made from paper and cards – why not collect interesting colored pages from magazines and brochures for making into garlands?Materials

• Leftover paper and cards of different colors
• Glue, stapler or sticky tape
• Scissors

To make garlands, simply cut strips of paper. These can be any size, however it is worth remembering that the smaller the strip, the smaller the chain. A strip of around 1 inch by 6 inches is a good size.

Start joining the strips into rings. This can be done by stapling the ends together, taping with sticky tape or gluing.

Join two rings together with a third ring and continue making a chain in this manner until it reaches the desired length or you run out of paper!

CD Christmas Tree Ornaments

Christmas tree ornaments can be made from a variety of materials. Old egg boxes can be cut down and painted to make bell shaped ornaments, pieces of cardboard can be cut into shapes and decorated with pieces of fabric or lace and even unwanted CDs can be turned into interesting decorations. Decorations from CDs catch the light effectively and make unusual decorations.

Materials

• Unwanted CDs
• Glue or tape
• Pieces of ribbon, strips of fabric, beads, sequins or other decorations
• Thread or yarn

Glue or tape pieces of fabric or lace ribbon over the CDs as desired. Decorate with glitter and sequins.

Cut thread and knot this through the central hole of the CD and hang it from the tree.

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Christmas Angel

With some imagination it is possible to make Christmas angels from soft drink bottles. Many carbonated drink bottles (and also yogurt drink bottles) have a curvy shape and these can become the basis for Christmas angels.Materials

• Empty and clean bottles of a suitable shape
• Waste cardstock or paper for wings
• Old ping pong ball or similar shaped item for head
• Wire for halo
• Paint and glue or tape

Paint the bottle or wrap it in paper to form the body.

Cut a pair of wings from paper and fasten to the back of the body. These can be as big or small as you require. Paint the head if desired. Create a halo from wire and fasten.

Variation – make hair using yarns or threads.

Christmas Wrapping Paper and Gift Bags

Plain paper and plain paper bags can easily be turned into festive gift packaging. Plain paper grocery bags can be transformed using little in the way of additional materials.

Materials

• Old, clean grocery bags, wrapping paper, postal paper
• Festive rubber stamp
• Ink or paint

To decorate discarded bags and paper, simply decorate with the image from a festive stamp. Rubber stamps are readily available and can be used for many years to come, therefore a carefully chosen rubber stamp will be a good investment.

If you don´t have access to a rubber stamp, how about making a stamp from a potato? This is great fun for children to do and makes a good activity to keep youngsters amused during the exciting build up to Christmas.

Christmas Crackers

Crackers are easy to make out of cardboard toilet rolls and can make lovely decorations for trees. Additionally, when stuffed with tiny Christmas gifts, these can make great festive table novelties.Materials

• Toilet roll inners
• Paper
• Ribbons or threads
• Gifts to put inside – sweets, novelties, paper hat, etc.

To make Christmas crackers, simply pop the presents into the empty toilet roll and then wrap the paper around the roll leaving about 6 inches at either end. Gather the ends together to replicate the look of a cracker and tie ribbons or threads around the ends.

While these crackers won´t give the traditional crack when pulled, they are a lovely way to make unique and hand crafted decorations.

Tips for Recycled Christmas Crafts

• Start collecting suitable items for Christmas crafts early in the year! Keep a box for unusual and interesting colored and textured items.

• Keep odds and ends of paint which can be used up adding additional color to decorations.

• Foil wrapping papers are great for adding sparkle to decorations.

• Save wrapping paper and gift bags from birthdays — these can often be recycled for Christmas use with the addition of some festive adornments.

• Tissue paper used to wrap clothes or delicate items is very useful for a variety of things. This can easily be ironed with a warm iron to remove any crinkles.

 

http://greenliving.lovetoknow.com/Recycled_Christmas_Crafts

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http://www.sinclairwhite.ca.com.au/weblinks/SinclairWhiteAugus69415D.pdf

ALBERT PARK: Candidates to speak up

* Election 2010  2 Nov 10 @ 06:00am by Sally SpaldingALBERT Park election candidates will have the chance to sway voters to their side when a speakers forum is held at the St Kilda Town Hall.

Declared candidates Martin Foley (ALP), Mark Lopez (Liberal) and Ann Birrell (Greens) and Serge Thomann (Ind) will face voters with Father Peter Norden as panel chairman.

Candidates will have to answer questions on the Grand Prix, euthanasia, renewable energy and climate change.

Locals Into Victoria’s Environment (LIVE) have helped to organise the event.

Convener David Robinson said with Serge Thomann as a candidate, “the outcome is much less certain in Albert Park”.

“People who may have voted Labor might vote for Serge and that’s just simple maths,” Mr Robinson said.

“Albert Park could be one of the seats that holds the balance of power in a possible ‘hung parliament’.”

Mr Foley said the government would take real and substantial action on climate change.

“If we do nothing it will have devastating effect on our environment and on our prosperity,” he said.

Cr Thomann said the state government needed to take action to reduce carbon emissions.

Ms Birrell said Victoria needed to clean up its act on the environment: “We can’t leave climate change and waste for our children to sort out”.

Dr Lopez said sustainable living and protecting the inner-city heritage were important.

The forum is at 7pm on Wednesday, November 10.

http://port-phillip-leader.whereilive.com.au/news/story/albert-park-candidates-to-speak-up/

CHEVRON GREEN – Total Style, Inside And Out

MELBOURNE

$549,000

CHEVRON GREEN – Total Style, Inside And Out

In an address that has made a major contribution to the life – and the style of St Kilda Road over several generations, CHEVRON’s transformation to a residential setting of superlative quality completes its evolution. This fifth floor apartment conveys contemporary luxury and low-maintenance ease throughout a flexible floor-plan in which central living/dining areas lead to a sunny, under-cover balcony with views that stretch to the Westgate Bridge and beyond. A kitchen fitted with stone benches and AEG appliances has been designed to maximize user-friendly efficiency. Main bedroom with built-in robes and en suite is beautifully comfortable and is complemented by a flexible second bedroom, also enhanced by built-in robes, which can be configured for additional living or as a great study/den if so preferred. The second bathroom’s surfaces and fixtures reflect a perfect blend of form and function. Heating/cooling, single car garaging and security entrance are amongst pleasing extra assets which most notably include landscaped gardens, paved outdoor entertaining precincts, impressively equipped gym and superb infinity edge swimming pool.