It’s unfortunate that swelled heads aren’t painful – as each month we get the same repeat offenders who state categorically that we will have a rate increase and they, yet again, become termed as ‘unreliable witnesses’. One would think that for credibility, these repeat offenders would be removed from the credible source list, as it is abundantly clear to many that when commenting on the economy, they apply the same methodology, as they do to their weekly footy tipping competition (one can assume that they too are bottom dwellers). The simple truth is, that if the people who are constantly asked for their opinion keep getting it wrong, someone who can offer a balanced opinion with political correctness, should be found. On February 26 we wrote, “The ‘Governor of Moolah’ seems certain to fire-up the cash rate next week from 5.25 per cent to 5.50 per cent which will have little to no effect on our market.” One week later you guessed it !! Last week we wrote ” The interest rate increase last month had little to no effect on our niche market, and by all accounts it appears a further increase next month is only a remote possibility.” It is somewhat strange that some can call the market and others struggle. Our Apartment Division certainly bore the brunt of these ill-informed views, as this market is case sensitive, and prospective purchasers can, and do, for that matter, delay their decision making process.

For the record, I totally agree with the comments of Reserve Bank Director Jillian Broadbent who commented ” We’re not managing a crisis,” and then went on to say “We’re managing a very sound economy with quite a lot of confidence that we’ll be able to achieve our inflation target while still maintaining sustainable growth.” One of the greatest problems that the ‘Governor of Moolah’ faces, is that it is impossible to get an exact positioning on the current play of the property market, as we (the agents) are withholding sensitive information. Home Price Guide contacted us this week requesting recent sales data, and we declined to participate (why participate given that the system is flawed). John Wakefield of CPM Research revealed this week that he has a new statistic : 17 per cent of all Sydney sales reported to CPM in March came with the sales price “undisclosed”. Of the sixty million dollars of property we exchanged last quarter we only reported just over three million dollars in sales to these institutions. The other fifty-seven million dollars of sales evidence will gradually filter into the system over the next eight months or so and alas, this sales evidence will be delivered to the Reserve Bank board in eight month’s time. For obvious reasons, it then becomes a difficult task to get a true positioning on the property market in December when the only sales evidence received, was transacted in March. I believe that the respected property journalists at the newspapers have the best knowledge of the niche markets as they deal exclusively with the real estate agents who are most active in these overall niche markets across Sydney. Maybe the next economists who offer their opinions regarding the state of play concerning the housing market, might like to fess-up that they are simply part time aspiring experts, who love nothing more than seeing their names in print regardless of the consequences.

There were nearly some carcasses in the Labor caucus this week with some MP’s declaring that ‘Bobby Dazzler’ and his taxing minister were causing them grief. It seems that constituents were fighting back over the land tax and vendor exit tax debacles. Let’s face it, these taxes are absolutely no-brainers with the ‘Dazzler’ left glaring at a blank canvas, as he can find no single remedy in the short-term. It looks for the moment that these two taxes have been placed in the too hard basket until such time as an election is called for the “State of Decay”. The simple reality is, that the property investors in NSW have serious issues with ‘Bobby’ and his inability to read or understand a balance sheet.

Whilst some things never change, the same can’t be said for the RWM team as today we launched our new look website !! When Barney McGrath, who is one of the most knowledgeable voices in our industry, tapped me on the shoulder and said “Mate, time to overhaul your website”, we did exactly that ! Enter one Maria Sipka, who is regarded (and I endorse) as a leader in strategic communications, together with her Cherry team ( It is not just about coming up with a real estate website. It is all about delivering something that has never ever been seen before, and we believe that we have delivered that, with the focus on our clients. We have created a site that many first suggested could not be achieved as we wanted a totally static site. I believe we have introduced a very user friendly website. Thanks to the Cherry team, you have exceeded our expectations.

Also, we have commissioned Proactive Tours to add its distinctive new technology to our website. Once again its online floor plans identify, what we believe, best represents our clients. It is all about interaction. Please have a look at this new technology. The website is or for the agents who want to implement its technology contact Tina Sanger –

There would not be a new website without the dedication of our very special, loved and admired IT Manager, Azam Sadeghpour. You have worked around the clock for months to deliver our online communication. We dedicate this website to you. Ladies and gentlemen, click on I am tipping 100,000 hits with this edition !! Cheers and to Azam, Steve and Rich and the angry guy who kept asking way too many questions. Azam, you have exceeded our expectations, yet again !! Cheers ^__^

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