Football, Meat Pies, Kangaroo’s And No Holden Cars

Football, Meat Pies, Kangaroo’s And No Holden Cars

.
This week’s announcement by Holden to shut down operations in Australia in 2017 – although I suspect they will move on well before this date should not come as a great surprise. Back in the 1960’s the manufacturing industry in Australia employed 26 per cent of the workforce and today it sits at just 8 per cent and getting smaller. Ford and Mitsubishi have already announced previously that they too would be leaving our shore which now leaves Toyota as the sole motor vehicle manufacturer in Australia. Over the years I have read many speeches where a common theme is that by 2020 Australia will cease to have a manufacturing industry.

When I look at the 2012 Australian Securities and Investment Commission’s Annual Report the number of businesses registered reached 1.9 million, which happens to be a new Australian record, but the number of businesses entering external administration is also at the highest level since the Global Financial Crisis. The federal government was never expected to provide financial assistance for these ailing companies so why annually prop up the ailing motor vehicle industry? It no longer makes sense – it’s time to move on. Hence: The failing auto industry gets a final reality check.

Putting all the politics aside history shows with Australian motor vehicle closures: 1992 – Nissan – Keating, 2008 – Mitsubishi – Rudd, 2013 – Ford – Gillard and 2013 – Holden – Abbott.

Labour pains add to the RBA’s challenges with the Australian Bureau of Statistics (ABS) announcing yesterday that the unemployment rate rose to 5.8 per cent in November, from 5.7 per cent in October. The man with the toughest assignment is none other than Glenn Stevens our head teller at the Reserve Bank of Australia (RBA) who warned Stevens warns against hubris “We are building up this myth of 22 years uninterrupted growth. We shouldn’t do that – sooner or later we’ll have another downturn.”

What remains to be seen is exactly what lessons have been learnt from the GFC.

xmas2012

SYDNEY AERIAL PHOTOGRAPHY 

BUY PRINT

Just wanted to thank Tim again for providing us with his magnificent aerial photographs each week. It is an honour to have Australia’s greatest aerial photographer on our team each year – thanks mate.

As 2013 comes to a close it’s always interesting to look back in reflection and let’s look at interest rates which I might add Macquarie Bank called it nearly right saying they would get to 2.00 per cent at the beginning of the year. I predicted they would actually go up so I was completely wrong although Macquarie Bank did predict 2.00 per cent so they were half right. In 2014, at some stage I predict the cash rate will fall to 2.00 per cent as the RBA tries to get its monetary policy back firmly on the front foot.

4-12-2013 12-58-17 PM

At RWM our December quarter turned out to be an all-time record which has us clearly of the opinion that the local real estate market will kick – off very strongly in February 2014. Again, the market is easily measured by the number of properties on the market which for the better part of 2013 saw record low numbers of properties on the market.

Interesting observation in 2013 was that we really started to see the Chinese buyers making serious inroads into the Mosman markets especially in the house sector. Chinese buyers tower over Australian real estate – Where China spends its vast $US3.7 trillion foreign reserves is going to dominate asset prices and developments around the world. Right now apartments in Sydney and Melbourne are in favour with the Chinese.

The number of houses keeps diminishing with just 88 houses for sale in Mosman, Cremorne and Neutral Bay which in itself would be another record.

MOSMAN – 2088

• Number of houses on the market this time 2012 – 99
• Number of houses on the market last week – 86
•Number of houses on the market this week – 75
•Number of apartments on the market this time 2012 – 100
• Number of apartments on the market last week –64
• Number of apartments on the market this week – 69

CREMORNE – 2090

• Number of houses on the market this time 2012 – 14
• Number of houses on the market last week – 11
• Number of houses on the market this week – 8
• Number of apartments on the market this time 2012 – 25
• Number of apartments on the market last week – 16
• Number of apartments on the market this week – 12

NEUTRAL BAY – 2089

• Number of houses on the market this time 2012 – 13
• Number of houses on the market last week – 6
•Number of houses on the market this week – 5
• Number of apartments on the market this time 2012 – 57
• Number of apartments on the market last week – 29
• Number of apartments on the market this week – 26

Source: Australian Property Monitors

For this week’s sales in Cremorne real estate, Cremorne Point real estate, Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Neutral Bay real estate, Cammeray real estate

*Click Here

For this week’s opens for inspection

*Click Here

Time for me to head off to our Christmas Party so on behalf of Steve and myself and all our fabulous staff we thank you for being with us in 2013 and we look forward to seeing you all again in 2014. Our Subscriber Sales have jumped to $1,252,216,833 – which clearly shows that our online models continue to exceed our expectations.

Wishing you a Merry Christmas and a safe and prosperous New Year.

Cheers ^__^


2 Responses to “Football, Meat Pies, Kangaroo’s And No Holden Cars”

  • Ryan O'Grady says:

    Thanks Robert for another year of wonderful commentary. Have a relaxing break!

  • Ann says:

    Richo was saying this week that the Football, Meat Pies, Kangaroos and Holden cars theme music was taken from a US Chevy tune and had the words changed!!

    Merry Christmas and Happy New Year to all VRN readers

Leave a Reply

Your email address will not be published. Required fields are marked *