IT’S OVER TO THE VIDEO REFEREE !!

IT’S OVER TO THE VIDEO REFEREE !!

Currently, one of the most interesting topics, is that of the changes to the Government’s media laws with fierce debate on the subject of the proposed new digital licences. For the real estate industry especially, this will be the next medium for advertising properties as the Internet world becomes increasingly engrossed in online videos. This week Google launched its Australian version “Google Video” and for all parties concerned this is now recognised as the huge growth area of the Internet. This fascination in online videos is largely driven by the younger generation so this all but guarantees that it will become the way of the future. Yahoo this week, purchased Jumpcut which is a site that provides online video editing tools. The most popular is www.youtube.com, followed by www.myspace.com, then Google. A recent study found that almost forty per cent of Internet users around the world are today indulging in videos online. If you take YouTube for example, it has approximately 100 million videos downloaded each day. An online article that appeared on www.smh.com.au this week “Online video watching goes mainstream” by Lisa Hearn, stated “Accenture said that research into the habits of 10,000 consumers across nine countries found the PC to be the “prevalent alternative distribution mechanism today” with 38 per cent downloading and watching videos on the Internet compared with only 15 per cent doing so via their television and 8 per cent for mobile phones.” The article went on to say “Change will only accelerate over the next 10 years as today’s youth gain purchasing power.” MySpace, was acquired by News Corporation for $US580 million just under twelve months ago and this week an analyst predicted it could be worth $US15 billion within three years time.

The most significant change to the real estate industry over recent years has been the move into electronic database and web developments. At the beginning of this year our subscriber sales were $420,096,000 and nine months on we are currently at $531,964,000 which equates to $111,868,000 in sales and we still have the December quarter to go. The hi – tech real estate agencies today are now lapping their competitors who continue to struggle with the new electronic landscape. With the September quarter now complete if we compare our turnover in the September quarter 2004 to September quarter 2005 we were up 12.63 per cent. Then when we compare September quarter 2005 to September quarter 2006 we were up another 15.45 per cent and that is in a market with declining house volumes. It would be fair to suggest that the Internet is leaving plenty of clues with certain business models.

With such diversity and just in time for the school holidays, here is an offer too good to refuse. For those who enjoy the RM Williams look, this is the perfect getaway. Tumbulgum. “Tumbulgum” is a spectacular country estate with an immaculate homestead set amidst award-winning gardens, enjoying excellent indoor and outdoor entertaining areas, pool, great privacy and dramatic views. The ultimate resort-style country property that is fully established and meticulously maintained, offering an enviable lifestyle. The property offers approximately 303.5 hectares (750 acres) of prime grazing land that has potential for sub-division and is just two and a half hours drive from the Sydney CBD. Located in the Lower Hunter, it’s one of the area’s finest properties. This will no doubt have those Mosman tractors roaring up the F2.

Given the current market conditions and the demand for houses, we are predicting a strong Summer trade. We are now just two weeks away from our peak selling market. There are currently twenty three apartments on the market in Cremorne and Neutral Bay under $300,000 so this market is completely different. These markets still share the hangover from the failed Vendor Exit Tax. That is certainly something that nobody would want to watch on video !! Cheers ^__^

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