The Sydney real estate market today, reads like the chapters of a book. Last week we reported that, based on figures released by www.realtor.com.au, Mosman house sales for 2006 were 233. This week, that number jumped to 247. However, if you look at the www.residex.com.au figures, they have Mosman sales at 293. This is up on the realtor.com.au sales figures which indicate that in 2005, Mosman recorded 289 house sales. If you look at the number of houses currently for sale in Mosman, you will see approximately 130 listings. Now it gets interesting, as the volume of sales should, given the current market conditions, get very close to the 376 sales in 2003 (and that was a peak market performer). Continue reading »

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20.10.08Robert SimeonNo Comments »

It doesn’t matter which way you look at it. We are in a global financial crisis and now it is time to simply take care of business – which is exactly what many businesses have done in recent years. The International Monetary Fund (IMF) announced this week that Australia was unlikely to slip into recession although we all know that sadly, there will be casualties along the way. Continue reading »

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10.10.08Robert SimeonNo Comments »

The Reserve Bank of Australia (RBA) issued a grim forecast this week when it raised inflation predictions for 2008, which are now getting out of control. Having raised the official cash rate last week by 25 basis points to seven per cent, we anticipate much more aggression by the RBA in coming months. The news this week just gets worse and there is simply no other alternative but to fight” fire with fire”. When the Board meets next month, the rumour is that the next official cash rate will have a minimum 50 basis point increase. Continue reading »

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15.02.08Robert SimeonNo Comments »