The dysfunctional process applied to monitor the Sydney property market, continues to resemble that great comedy act by Abbott and Costello, “Who’s on first”. This week Residex, BIS Shrapnel and Australian Property Monitors all had different views, although the consensus was, that prices had levelled and a slight incline was now emerging. At the end of the day, most wouldn’t care, given that the vast majority of participants were home owners, not investors. The investors still remain on the cautious side of the property market so the home buyers who purchased in recent months would share a “long time hold” view. Most people we speak with, monitor web site movements of property in the market and pay little or no attention to this data that continues to fail in a flawed system. If you want to provide an accurate assessment of the property market, it must be done on exchanged properties and sadly, at this point in time, it is not possible.

The BP Award for 2005 easily goes to Google for continuing its merry path as “the quiet achiever”. Although now, a large audience is gathering as it keeps unearthing (not to be confused with GoogleEarth) new clues in its pursuit of on-line domination. “Classified Intelligence”, an advertising industry consultancy, discovered that Google has been busy applying for advertisement service patents. “It’s crystal clear that Google is planning an all-out move into classified advertising” said Peter Zollman, founder of Classified Intelligence. The listing service will be called Google Automat, which is just one of a series of new brand names it has been testing. It is now clear that Google is setting up an on-line payment service called Google Wallet, which will take on the likes of eBay and PayPal. We have been monitoring its progress for months now and it will only be a matter of time before it becomes a serious (some argue that it is now) property portal in Australia. Many of the free property portals may as well close up shop as there is no way known, they will be able to compete. It wont just be the property in its sights, you can add boats, employment and cars. Actually, just add the entire gambit. Maybe the likes of domain.com.au and realestate.com.au will rethink the approach to allow Google access to their templates. Whilst they may argue that in return they gain traffic, more importantly they are allowing them brand awareness. Google continues to bake cakes in its ovens, while developing a perfect recipe to become Australia’s number one property portal.

Whilst on great Internet businesses, this week we did what no other real estate agency in Australia could manage (well, not that we are aware of) when we posted our 222nd subscriber sale to a value of $400,746,000!! Our Internet sales are up 42% on the previous year, which continues to leave vital clues. Cheers ^__^

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