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" What's Happening In New South Wales " Peak Body Slams Politician’s Rental Policy Housing policy released by an election candidate has been labelled “misguided” and “narrow-minded” by the Real Estate Institute of NSW. Newtown Greens candidate Jenny Leong announced plans last week to take power away from landlords and place it in the hands of renters. Ms Leong proposed to cap rent rises at the rate of inflation and allow landlords to impose only one increase in rent per year. 11 February 2015. More. Street Record Broken As Turramurra Home Sells $128,000 Above Reserve

The upper north shore re al estate market is getting back into the swing of things following a strong sale in Turramurra. A property at 3 Karloo St sold for $1.503 million, $128,000 over reserve in a competitive auction. The four-bedroom house attracted six registered bidders with two main parties fighting it out until the fall of the hammer. 9 February 2015. More. Rate Cut Will Have ‘Minimal Impact’ On Rental Market

Commenting on the recent rate cut by the Reserve Bank of Australia, property experts have said the drop will have little influence on Australia’s largest capital city rental markets. SQM Research managing director Louis Christopher told Smart Property Investment's sister publication, Residential Property Manager, the rate cut will have little influence on the Sydney rental market. 9 February 2015. More.

Sydney's Property Price Growth Led By Inner Suburbs

Sydney’s property market growth has been fuelled by fast rising prices in inner suburbs and large sales volumes in middle and outer ring suburbs, based on numbers from Savills Research. Using data from the Real Estate Institute of New South Wales (REINSW), Savills’ latest report showed that inner Sydney had the fewest number of house sales at 6,100 in 2014. 3 February 2015. More.

Rezonings Help North Ryde Become Sydney's Hottest Suburb

North Ryde's houses recorded the strongest median price growth of those in any Sydney suburb in the latter part of 2014, according to Domain Group senior economist Andrew Wilson. 8 February 2015. More.

" What's Happening In Queensland " Queenslanders Missing Out On Millions In Savings

Queenslanders are missing out on some of the biggest savings in years, making up just 15 per cent of the $62 billion worth of homes that were refinanced last year. Latest housing finance data from the Australian Bureau of Statistics showed just over 33,000 Queensland homes were refinanced last year, valued at close to $9 billion. But the figures made up just 15 per cent of the 212,739 homes that went to new lenders across the country. 12 February 2015. More. Cairns Emerges As The State’s Best Unit Hot Spot With Rental Yields Of 8.7 Per Cent In Woree, 8.5 Per Cent In Manuda And 8.4 Per Cent In Edge Hill Queensland’s unit market dominated the national top-10 rankings for rental yield, making up 40 per cent of the top listings. Cairns has emerged as the state’s best unit hot spot with rental yields of 8.7 per cent in Woree, 8.5 per cent in Manuda and 8.4 per cent in Edge Hill. 7 February 2015. More. Rental Supply Still Tight

Seasonal factors in south east Queensland saw a slight increase in vacancy rates over the Christmas/New Year period. However, overall market conditions remained tight. The REIQ Residential Rental Survey for December 2014 indicated a decrease in rental stock, suggesting that investors may be taking advantage of improved selling conditions to place their investment properties on the market. 5 February 2015. More.

Sunshine Coast, Gold Coast And Brisbane: The State Of South East Queensland Property

Queensland’s Sunshine and Gold Coasts have bright futures but are best avoided by first-time property investors, while economic uncertainty in Brisbane raises questions around its price growth potential, says property analyst Louis Christopher from SQM Research. 4 February 2 015. More.

Queensland Investors Benefiting From Strong Sales Market

Investors in Queensland look to be benefitting from improved selling conditions and are placing their investment properties on the market. This comes amid results of the REIQ Residential Rental Survey for December 2014 which indicates a decrease in rental stock. 5 February 2015. More.

Issue # 087 February 13th

2015

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State Of The Nation Continued…

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"What's Happening In Victoria" Melbourne's New Apartments Get Smaller, But Price Tags Do Not

New apartments in Melbourne are rapidly becoming smaller, while their price tags are not, a report by the Oliver Hume Real Estate Group shows. The average size of a one-bed apartment

decreased from 47 to 44 square metres. 11 February 2015. More. Victorian Man Charged With Multiple Fraud Detectives from the Victoria Police Fraud and Extortion Squad have charged a man following a series of alleged fraud incidents in the mortgage broking and real estate industries. Victoria Police today contacted The Adviser following the publication of a story this morning relating to a trail book merchant. 10 February 2015. More. Inflation Adjusted Home Values Show Little Growth Outside Of Sydney And Melbourne

According to the CoreLogic RP Data Home Value Index, combined capital city home values have increased by 7.9% over the 2014 calendar year. When you take into account the rate of inflation over the same period, the rate of value growth has been more moderate at just 6.1% due to annual inflation of 1.7%. 9 February 2015. More.

Renovation Bug Bites Deepest In Victoria

Homeowners in Victoria are forking out billions of dollars a year on property makeovers. The state’s renovation bill weighed in at $2.15 billion last financial year, the largest in the

nation, according to the Australian Bureau of Statistics. 8 February 2015. More.

Melbourne House Median Hits Record $669,000: REIV

Melbourne's median house price hit $669,000, up 5% on the September quarter after price increases in inner, middle and outer suburbs, according to the latest REIV quarterly results. "Inner Melbourne increased by 11.7% for the year with middle Melbourne up by 13.2% and outer Melbourne at 8.9%," REIV Chief Executive Officer Enzo Raimondo said today. 5 February 2015. More.

"What's Happening In South Australia" New Data Shows South Australian Units And Apartments Are The Way To Go

Looking to invest in South Australian real estate? New data shows SA units and apartments are the way to go. According to the latest Core Logic RP Data home value index results, Adelaide units are out-performing

detached houses for capital growth. 7 February 2015. More.

It’s All About Profile... In this day and age, everyone has a profile... Facebook, Instagram, Houzz, Twitter. We are browsing profiles daily trying to get a snapshot of what a friend is up to or what a restaurant is like. Most browsing is done mindlessly to pass time or when relaxing in front of the TV. 11 February 2014. More.

SA Govt Unveils Ambitious Agenda

South Australia's Labor government will consider radical tax reforms and push for Adelaide to become carbon-neutral as it looks to boost its lagging economy. Addressing the first sitting of parliament for the year on behalf of the government, SA Governor Hieu Van Le said the state economy was in rapid transition but would emerge more prosperous. 10 February 2015. More.

Interest Rate Cut Is Helping SA Property Buyers Score Home Run

Real estate experts are hopeful this week’s interest rate cut will drive property sales and pull South Australia’s building industry out of a slump. This comes after the Reserve Bank board recommended a 0.25 per

cent cut to its cash rate on Tuesday. 7 February 2015. More.

Seacliff Top Performer For Median House Price Increase Across Metropolitan Adelaide

Seacliff has recorded the biggest median house price increase in metropolitan Adelaide as buyers look for beachside homes without the million dollar price tag. Latest figures from CoreLogic RP Data show the median house price in Seacliff rose 42.6 per cent to $695,000 in 12 months. 3 February 2015. More.

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State Of The Nation Continued…

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"What's Happening In Western Australia" Online Survey Housing We Love Asks People About Types Of Housing They Would Like To See In Perth Perth survey on different housing types is finding WA homemakers like contemporary architectural design, alongside the more traditional home formats. As WA undertakes an era of unprecedented development, the online survey Housing We Love allows respondents to view an array of housing pictures and click to vote for their favourite. 9 February 2015. More.

$1.3m WA Home Passes In For $360,000: Mixed Auction Results Follow Rate Cut

The Australian auction market has seen a mixed bag of results this weekend following the Reserve Bank of Australia’s decision to cut interest rates last week. In a sign of the times for the West Australian property market, a house purchased for $1.3 million in 2011 in the mining town of Port Hedland passed in at auction for just $360,000 this Saturday, according to the ABC. 9 February 2015. More.

Latest WA Real Estate Figures Show Jump In Homes For Sale In Perth

The number of homes for sale in WA has jumped, with the Real Estate Institute of WA declaring Perth’s market was continuing to slow. Just over half of sellers are dropping their asking price,

with the average discount being 5.3 per cent. 7 February 2015. More.

Building Approvals For New WA Homes Hits Record High For Second Year The number of new homes approved for building in WA has hit an all-time high, according to new data released by the Australian Bureau of Statistics. The 32,162 homes approved for the full year to December 2014 broke the WA record, after the previous high of 28,211 homes in 2013. 5 February 2015. More.

Mining Bust Hurting Perth Shows Damage That Spurred RBA Cut

This is what an economic hangover looks like. More offices lie empty in Perth, Australia, than at any time since 1996, while the number of homeowners seeking to offload properties has surged 45 percent from a year ago. "There's a couple of reasons for that -- one is panic," said Creagh Ferdinands, an associate at Harcourts real estate agents in the Perth suburb of Joondalup. 4 February 2015. More.

"What's Happening In The Northern Territory" State Of Markets - NT February 2015 Moving into 2015, Darwin’s recovery may hinge on the tourism sector. In the year leading up to December, Darwin recorded growth of 1.6 per cent, according to CoreLogic RP Data. This figure leaves the Northern Territory some way behind the annual capital city average of 7.9 per cent. Darwin also performed poorly in the final quarter of 2014, with home values decreasing by 1.7 per cent. 11 February 2015. More.

Top Growth Capitals Do Not Include Sydney

Red-hot Sydney is only middle of the pack when it comes to house price appreciation over the past 10 years. Darwin house prices have led the way, growing by an average of 8.05 per cent per annum between January 2005 and January 2015, according to Residex. Melbourne houses grew by 6.36 per cent per year, followed by Perth houses on 5.71 per cent and Sydney houses on 5.06 per cent. 10 February 2015. More.

Plans For A Controversial Housing Complex Adjoining Botanic Gardens And Amphitheatre

Lobbying has begun for a controversial “landmark” housing complex adjoining the Botanic Gardens and its amphitheatre. The development, at the end of Blake St behind the Channel Nine studios, would include cafes, green space, shops and an unknown number of units. 7 February 2015. More.

"What's Happening In Tasmania" How Cheap Is Hobart? Three Investor Picks Under $300,000

Almost a third of Hobart house sales came in under the $300,000 mark in the December quarter, according to the Real Estate Institute of Tasmania. An even greater proportion of house sales were sub-$300,000 in Launceston: 58% against Hobart's 31%. Hobart was also the surprise standout for December, with CoreLogic RP Data recording 1.6% price growth for the month. 8 February 2015. More. Interest Rate Cut Windfall For Home Owners

The lowering of the official interest rate to a record low of 2.25 per cent has been welcomed by Burnie mother Kristie Purton. Ms Purton, who is her family’s sole income earner, has two children — both at school and heavily involved in sport — still living at home. “It might seem insignificant when you initially look at it, but it all adds up over time,” she said. “It will just ease things a little bit.” 4 February 2015. More.

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State Of The Nation Continued…

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If you would like to voice your opinion on any article you have read in the State Of The Nation Newsletters or elsewhere that has concerned you, please send the article and your opinion on it to us and we will include it in a future issue of the State Of The Nation. Send your opinion to kevin@smartpropertyadviser.com.au

"Market Update" FHB Figures Still Disappointing, Despite Revised Data First home buyer activity has reached a 10-year low according to the latest official figures, despite an investigation into first home buyer data resulting in an upwards revision last week. Housing finance figures, released by the Australian Bureau of Statistics yesterday, revealed that first home buyers' share of new loans fell 0.1% to 14.5% in December. This figure is the lowest since May 2004 and shows a steady decline since May 2012. 12

February 2015. More. Investors Surge After APRA Warns About Investor Housing Lending In December 2014

The Australian Bureau of Statistics (ABS) released housing finance data for December 2014 earlier today. The data showed an end of year surge both in the value and the number of loans. 11 February 2015. More.

House Boom, Cost Cuts, Lift Boral Profits

Australia's housing construction boom has helped building products maker Boral rebound to profit, with cost-cutting efforts expected to deliver further growth this year. The company on Wednesday reported a half year net profit of $104.5 million, compared to a net loss of $26.3 million a year ago. 11 February 2015. More. Economist Forecasts ‘Building Boom’ In 2015 The pessimists might have to quieten down for the time being after building approvals reached record levels in 2014. The Australian Bureau of Statistics has revealed there were 200,814 approvals last year – the first time that Australia has passed the 200,000 mark. 5 February 2015. More.

ABS Admits Problems With First-Home Buyers Data Are first-home buyers really being priced out of the housing market? It appears not – not to the extent that we have been told anyway. The Bureau of Statistics has admitted that first-home buyer statistics have been flawed since October 2012, leading to a misperception about the struggles young home buyers are facing. 4 February 2015. More. What Does An Interest Rate Cut Mean For Home Buyers, Home Owners And Sellers? The Reserve Bank of Australia has slashed the official cash rate by 25 basis point to a new record low of 2.25 per cent after growing speculation of a cut. But what does this decision mean for you? 3 February 2015. More.

"What's Happening Internationally" Residential Property Prices In Portugal Set For Moderate Growth Residential property prices in Portugal are expected to rise modestly over the first few months of 2015 after eight months of stability as housing market activity levels continue to rise. There is a strengthening in sales market confidence, with forward looking indicators showing rising optimism, according to the latest RICS/Ci Portuguese Housing Market Survey. 11 February 2015. More.

Scrap Negative Gearing At Your Peril, REIA Warns

Tony Abbott will harm the cause of rental affordability if he eliminates negative gearing in the next Budget, according to the Real Estate Institute of Australia (REIA). The REIA has made a pre-Budget submission that calls for negative gearing to be retained in its current form. 11 February 2015. More.

Controversy Corner

Economy's Confidence Deficit The latest news on confidence isn't all that bad, but it's not all that good either - and that's a problem. Two key measures of confidence were published on Tuesday - the NAB gauge of business confidence for January and the ANZ-Roy Morgan index of consumer confidence for the week ending Sunday. 10 February 2015. More.

Some Parting Advice

“Don’t let greed and let the lure of easy money interfere with becoming rich and financially wise.”

Until Next Time… Kevin Lee

www.smartpropertyadviser.com.au

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