Then surprise, surprise China issues economic warning over US ties in Asia where it became pretty obvious that cosying up to the US is fine, but our economic destiny lies with China. Indonesia was not that happy either with this announcement so as quick as a flash Hercules to the rescue as Gillard’s peace offering over US troop build up concerns four C – 130 Hercules worth an estimated $30,000,000 are donated to the Indonesian government as a softener. Australia will now have to replace them and it will cost a lot more than $30,000,000. Hey money’s no object!

BUY PRINT

Then we had to endure a messy mining tax deal sealed in the early hours when it became most apparent that the mining tax outcomes: everyone’s a loser. With many left shaking their heads in total disbelief, Alan Kohler wrote in Business Spectator – mourning Gillard’s mining disaster. “Australia’s effort to levy extra taxes on mining companies has been an unmitigated debacle, capped by the passage early this morning of the Minerals Resource Rent Tax with a further last – minute compromise. It is one of the great lose – lose outcomes. We can only hope the Senate knocks it back.”

Which then became personal NSW’s $900 million mine shaft – Julia Gillard punishes for Barry O’Farrell’s carbon tax offsets. So NSW now appears to be the only state set to be punished after Barry O’Farrell raised royalties by $900 million over three years to offset the cost of the carbon tax. The “world’s greatest treasurer “, Wayne Swan, wrote to Mike Baird warning that he will also be excluded from future infrastructure funding if he does not back down.

Little wonder consumer confidence is down and this resonates through the property markets.

No doubt the Reserve Bank of Australia (RBA) is monitoring this closely and my school of thought is that the cash rate will be further reduced by -0.25 per cent when it meets next month, with another drop in February 2012. This weekend will be the greatest Litmus Test with Melbourne and Sydney ready for spring’s only super Saturday. During the global financial crisis (GFC) Melbourne and Sydney still managed to present three or four super Saturday’s so it will be interesting to monitor the 1,000 auctions in Melbourne and 650 in Sydney this coming weekend. That four letter word SOLD (at best) may be heard 825 times.

Housing recovery to begin in first quarter of 2012, but headlines won’t tell us until later: Christopher Joye given first – home buyers to drive 2012 housing recovery: BIS Shrapnel’s Angie Zigomanis.

Why house prices should recover in 2012: Craig James which is a sound argument that I have been presenting all year. “The housing market is constantly in a tug – o – war between two factors – demand and supply. And really it doesn’t get simpler than that. If there is a limited number of properties for sale and plenty of keen, cashed – up buyers then prices are almost certainly going to be bid up. Similarly if there is an abundance of property on the market and buyers are cautious – preferring to take time to find the ‘right’ home – then prices are more likely to ease.”

We publish the Mosman housing barometer each week so, bearing in mind that Mosman has approximately 4,900 houses ,it is abundantly clear that prices are about to go up given that just 2.7 per cent of available Mosman houses are on the market today.

Source: Domain Property Monitors

MOSMAN – 2088

• Number of houses on the market last week – 136
• Number of houses on the market this week – 134
• Number of apartments on the market last week – 118
• Number of apartments on the market this week – 118

CREMORNE – 2090

• Number of houses on the market last week – 16
• Number of houses on the market this week – 15
• Number of apartments on the market last week – 34
• Number of apartments on the market this week – 31

NEUTRAL BAY – 2089

• Number of houses on the market last week – 15
• Number of houses on the market this week – 15
• Number of apartments on the market last week – 101
• Number of apartments on the market this week – 100

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

For this week’s open for inspections – Click Here

I did chuckle this week when I read Europe’s $287bn carbon ‘waste’: UBS report “Swiss banking giant UBS says European Union’s emissions trading scheme has cost the continent’s consumers $287 billion for “almost zero impact” on cutting carbon emissions, and has warned that the EU’s carbon pricing is on the verge of a crash next year.” Shock horror – Labor dismisses UBS emissions report.

So our Parliament in shock as Speaker resigns which did not come as a great surprise given Speaker deal boosts Labor’s position but tarnishes PM.

The problem for the Gillard government is that it can’t count – Govt’s budget surplus hope over: Deloitte. The reality being “in his latest Budget Monitor, Deloitte Access Economics director Chris Richardson said while that outcome would be politically “horrendous”, a surplus next year was a line drawn in the sand drawn by politicians not economists.” So it will be a case of no Labor surplus delivered since 1989/90 again.

Rest assured, Wayne Swan is the “world’s greatest Treasurer”. I will leave you with this:

If Australia is the lucky country, how come Spain, Italy and Greece are getting a new Prime Minister?

Cheers ^__^

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For those who missed the live speech here is the text of Obama’s speech to Parliament I watched it live and I must admit that it was most impressive as he provided an insightful vision as to what lies ahead. Although Australia’s most irrelevant political party didn’t agree as Greens fury at US build – up which should not come as a great surprise. They should stick to just planting trees.

It has not been a great week for the Greens with Julia Gillard’s backflip on uranium exports to India announcement. Although it will be interesting to watch if this fractures the Greens/ALP relationship?

BUY PRINT

Storm clouds over Europe, but sun is shining elsewhere “The media’s great strength is the speed with which they can bring us myriad details about the latest happening in Greece, Italy or anywhere else. Unfortunately, their great weakness is their inability to digest all that information and summarise what it means. The closest they go is in relaying the opinions of 101 supposed experts from Greece, Britain, America or anywhere else. Listen to more than one or two and you’re soon none the wiser.”  The long and the short of this is that consumer sentiments in Australia have adopted a short trem positioning and not a long term outlook.

Euro crash will scatter debris far and wide – we need to watch the road which prompted “The World’s Greatest Treasurer” to declare ‘Get your act together’, Swan tells Europe. When it became reality that Eurozone third quarter GDP suggests bloc is sliding into recession. Gross domestic product in the 17 – nation eurozone grew 0.6 per cent at an annualised rate during the third quarter, according to figures from the European Union’s statistics agency Eurostat. The weakest expansion since the region exited recession more than two years ago and well below growth rates registered in the US and Japan. The eurozone was spared no favours when the Greek economy fell 5.2 per cent in the third quarter.

The problem is quite simple: French banks are among the largest holders of Italian debt.

On the home front consumer confidence revives after rate cut which would explain the recent spring surge blooms as home buyers dive in. So it is not new money in our property markets when a press release from the Mortgage & Finance Association of Australia announced “first home buyers” have little confidence in the Australian economy, as they baulk at property purchases and hoard their cash.”

Reasons for delaying their entry into the housing market were:

• 72.1 per cent said they were worried about the level of debt home ownership would require
• 44 Per cent said they were delaying purchasing a first home due to economic conditions
• 20.5 per cent of first home buyers felt that property prices are too high

So the Reserve Bank of Australia (RBA) keeps mum on future rate moves although I believe the RBA will cut the cash rate again next month so that they can separate Australia from the Euro crisis and set a solid consumer platform going into 2012. I’m not that concerned by all the rhetoric emanating from our central bank when RBA takes negative line on multiple rate cuts and RBA board split on rate cut. The reality is that the RBA sees housing market as subdued not should we dismiss Economists and traders fighting a false forecasting war: Christopher Joye.

Was it the ‘Obama Factor’ that triggered the greatest trade volumes seen in 2011 this week for our demographic markets? There is not a single market in the world economy that does not fall under the economic equation of Demand V Supply.

So closely examine these figures we extrapolate each week for our readership.

Source: Domain Property Monitors

MOSMAN – 2088

• Number of houses on the market last week – 168
• Number of houses on the market this week – 136
• Number of apartments on the market last week – 138
• Number of apartments on the market this week – 118

CREMORNE – 2090

• Number of houses on the market last week – 21
• Number of houses on the market this week – 16
• Number of apartments on the market last week – 44
• Number of apartments on the market this week – 34

NEUTRAL BAY – 2089

• Number of houses on the market last week – 21
• Number of houses on the market this week – 15
• Number of apartments on the market last week – 136
• Number of apartments on the market this week – 101

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

For this week’s open for inspections – Click Here

This is anecdotal evidence that all of our property markets are engaging again and these statistics which are the most conclusive in 2011, prove that our property markets have turned. It will be fascinating to see next week’s results to see if this trending continues – I believe it will. What we are identifying is that our expats are now returning it ain’t working: Aussies abandon the ailing UK job market.

So Julia Gillard closing gap on Abbott: poll although her days are numbered given Bill Shorten firms as PM’s successor. Although the greatest problem they face is over those one – armed bandits ALP carries pokie burden – which won’t go away anytime soon. On a funnier side SLASH AND BURN: Swan plans to cut billions in spending so I assume he is referring to focus groups where the Gillard government spent $33 million last year on market research. They should be reading newspapers although that premise is quickly dismissed given Gillard looking to blame media: Hartigan.

Whilst on the media I have long argued here that newspapers can’t charge readers for online content so I was not surprised to read in Business Spectator when Alan Kohler wrote Will Fairfax break the paywall. As you would be aware you have to register to now read (The Australian) online as Rupert Murdoch proposes that Australian’s should pay a subscription to read his papers online. Online is based on the premise of eyeballs and third party advertising where the more eyeballs the more revenue. The Australian behind a paywall, and so far the three month trial has seen its page impressions decline by 25 per cent – far less than might have been expected. Actually, and certainly less than its traffic will decline once it starts charging.”

No wonder Fairfax Media is reconsidering its online position. The problem for News Ltd and Fairfax Media is that they are still “newspaper thinkers” who believe (incorrectly) that you can still double – dip with advertisers and the readership.

Goes to show you can never assume.

Cheers ^__^

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It has been our absolute pleasure to deliver to the clients in our dynamic market, the most comprehensive online electronic property data. Richardson & Wrench Mosman & Neutral Bay (RWM) continues to lead our markets with results, performance and innovation – “we never stop thinking about you.”

Without a doubt, the introduction of the Goods & Services Tax (GST) has seriously impacted on our markets and has definitely stymied property development and investment in housing. Some even refer to it as a Value Added Tax (VAT). The only problem is, that governments reap the financial benefits to the detriment of consumers. Banks are also reluctant to pursue mortgagee – in – possession (MIP) sales simply because they will have to pay GST on these forced sales. As stated previously, we have received just one instruction to act on a MIP sale in 2008.

Back to GST, the tax that our state government happily received but never passed on the tax reductions as promised. A disgrace, considering that in NSW, taxes have actually increased since the GST was introduced in 2000. NSW is now the (GST) 10 plus per cent state where tax payers are simply and obviously much worse off. What we have today is a government that is all but insolvent where state finances are now in debit, not credit.

A prime contender for a Double Dissolution, it has blown, wasted and destroyed all tax payer monies in the pursuit of disastrous economic policy. Our very own government failed miserably and is now MIP. No state government in our proud history has received such obscene tax payer donations which, as a direct result of incompetent financial management, have simply disintegrated.

This prompted the Prime Minister Kevin Rudd, to fire off a warning to Premier Nathan Rees, to lift his game. A tad late for Kevin -07, given that the NSW mini-budget to be delivered next week will identify the worst possible case scenario, a governing body that is broke!

I love the election promises that politicians make during election campaigns (like every child will have a computer). An obvious state and federal government communication problem which never eventuated, because of failed election promises. The NSW government costed this and said that it simply won’t happen as it is unaffordable.

Now it has announced that 700,000 school children will lose free public transport at a time when sexual predators are running amok. Considering the attempted abductions around Sydney, the NSW government plan is to make more children walk the streets to home? Care factor for NSW families is now at zero point, obviously aligned with economic management policy.

Then of course you have the NSW government announcement that it will cut the red tape and free up the rezoning of land. Spend a few hundred thousand dollars of tax payer monies with extravagant advertising promoting the metro line only to now see it shelved. Spare a thought for those who acquired property based on this election promise. Politicians now gone and struggling home owners left carrying an asset marinated in broken election promises.

Our elected state government with its increasing tax grabs is a hindrance to our property markets when it should be an ally. Confidence will restore our property markets and cheaper money serves as great economic relief. With the Melbourne Cup out of the way and the popular election of Barack Obama, global confidence is now finally on the mend (so it appears).

And that is exactly what we got this week when the Reserve Bank of Australia (RBA) knocked off a further 75 basis points – the lowest rate since December 2003. Many forget that 2003 was a bull property market and whilst we are not suggesting another bull market, we can certainly see a confident market ahead. It should be remembered that during the last recession we had falling property prices with record high interest rates. Today, we are faced with adjusted property prices and the prospect of record low interest rates.

We would like your thoughts on this, so post your comments on our weekly “Virtual Realty News” blog and we will happily publish them. We invite you to participate and have a look around at our latest online media platform. We still have a few bugs to iron out which is only natural as this website has 1,262 pages (and populating) of data. Cheers ^__^

Here is a snapshot of the site provided by Peter Ricci our web developer. We have so many features, we have asked him to highlight a few!

Welcome to the New Richardson & Wrench Mosman and Neutral Bay Website

The Richardson & Wrench Mosman and Neutral Bay (RWM) home page, is quite a large home page. Because of the wealth of information provided by RWM over the years, we think it is important to share this information – even to the casual visitor.

We worked with the team from RWM to identify all of the key information areas and combined this into a home page, which is now more of a jump station to various sections of the site.

We also realised the importance of the people at RWM, you can have the greatest technology, the best systems on the planet, but it still comes down to your people. Including items such as latest news, most popular news, people, weekly feature properties, recent sales and latest releases gives the site more of a newspaper theme.

With all of this in mind we wanted it to be unique, we think it is.

Team Page

It all comes down to your people and RWM has been a steady ship for many years, so we engaged a photographer to take a range of photos in and around Mosman and Neutral Bay.

Each Team Member has profiles, plus their own unique page with their vendors listings and recent sales results (‘Success Stories’) on the page. Team Members can be contacted individually as well from their own page.

Property Page

The property page is where we really get things firing. Having so much information on a page can be daunting for any developer, but the principal still remains, what do potential customers want to see? To the top left of the page we provide pricing, accommodation and other relevant information. Below this are the agents assigned to the property and a simple contact area for users to contact agents directly.

Property Photos

We use a flash gallery to view photos, plans, voice-overs and videos. This software has a range of features. Visitors can scroll through photos by mouse over, they can pause and play, view full screen.

The software automatically plays through each photo and then through to plans/videos. Tabs at the top are only displayed when there is content, so no plans, no plans tab, likewise no videos, no videos tab.

Maps with Street View

We also include properties with addresses displayed Google mapping with street view. We have nice large maps for visitors to see exactly where a property is located. They can also zoom down to street view and take a walk around the area.

Suburb Profiles

We created a range of suburb profiles and these match up perfectly within our system, so a property in a certain suburb will bring the correct suburb profile into the page. We also engaged a photographer to take a range of photos around each suburb, so users can view these via a simple pop up screen.

Walk Score

“What I can walk to” is a common home-buying and apartment-renting criterion. Our integration of Walk Score’s technology calculates a Walk Score for any property and shows a map of what’s nearby with reviews to help you find a great neighbourhood. The software showcases nearby restaurants, coffee shops, bars, movies, schools, parks, libraries, bookstores, fitness centres, pharmacies, hardware and retails outlets within the area. We think it is a great inclusion inspired by the team at RWM.

Recent Sales

RWM’s recent sales, reads like the who’s who of property within Mosman and Neutral Bay. We bring in recent data into a page, and users can also jump through to the main screen and view all Internet sales from RWM over the years.

Similar Listings

Both sales and rent pages have a similar listings tool which matches property type and suburb and brings in data to match that criteria. We only display 3 most relevant for each property.

Virtual Realty News

Okay Robert/Richard/Stephen have had a free reign over the years, splashing out their thoughts, now you can also tell him what you think. Each news article allow the user to make a comment. You can return any time and start a conversation with the author or other people making comments. RWM will of course have to monitor this, and we have functionality to do this. But give it a try, believe me it is fun!

Recommended Browsers

Any expert will tell you, that you should have the latest browsers. This site is optimised for 80+% of the market using Internet Explorer 7, Firefox 3, Safari, Opera and Google Chrome browsers. If you don’t have one of the latest browsers, I suggest you download one of your choice. My personal favourite is Firefox, it is fast, flexible and secure.

RSS Feeds

You can subscribe to RSS Feeds for Sales, Rentals, Virtual Realty News, however you will need one of the latest browsers or a feed reader like Google Reader.

Issues

Yes it is a new site, with a lot of new technology, we do not expect it to be perfect from the outset, we have a small team of testers and have found most little annoying bugs, but sometimes new ones do arise, I would love your feedback and you can contact me (Peter Ricci) on 0438 391 397 or alternatively by email at peter@agentpoint.com.au

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