.
Try telling that to Fort Crumble who are in a desperate wait for all the cows to come home where the fields are alive with the sound of Independents. The rural revolution is coming thanks to Election 2010 which now resembles a classic case of “foot and mouth” disease, prompting post – election behaviour that could even suggest the arrival of “mad cow” disease on Australian shores. The classic symptoms were noticeable well before Australia was herded to the polls last Saturday – erratic behaviour, aggressive demeanour, disorientated memory and agitated herd mentality. The paddocks now require new fences and boundaries – hay hay, Australia has been hung out to dry.

The post electoral shin dig over at the back paddock had to be cancelled, due to a lack of support which sparked headline act Midnight Soil to go batty as they were coming out of retirement after agreeing to make a one–off election appearance.

Like a bull at a gate, the Mad Monk waved his red robe Abbott attacks Labor’s ‘civil war’ and the mantra could he heard all over the paddock reject Labor: voters’ message to independent MP’s as the hollow men led Labor to disaster. Then the head heifer corralled one of her baby bulls when PM bans powerbroker Arbib from appearing on Q&A. Such was the Labor of Love given the odds shorten on next Labor leader where it keeps getting worse as Gillard in big trouble no what happens given we have a tortuous road to government.

BUY PRINT

Back at the barn, even the cats showed their respective claws as the meows fast turned into a hissy fit McKew a ‘Labor hero’: Keneally then axing Rudd a strategic blunder:McKew. Then Rudd’s fault for dismal result, says Keneally although the alley cats were purring at a sneak preview of a Keneally bloodbath when the cool cats over in NSW go to the polls next March. NSW Labor headed for wipe out which brought about a familiar change after Julia … it’s the real Kristina.

Over in the northern paddock, more cats were hysterically meowing (as against dogs barking) where there was plenty of crying over spilt milk. I won’t suffer Rudd’s fate, says Bligh then Keneally lashed out at Bligh’s ‘NSW disease’ jibe. The 2010 Federal Election today resembles Old MacDonald’s farm although at this point we don’t envisage that the war will be enough to see our soldiers brought back home to restore order given disparities in voters’ priorities are even more stark now. Plenty of cries to cut the crap as electorates keep asking where is the vision? Now we have fighting on two fronts Labor war hurting bid for power and now Coalition begins its own civil war.

What spring promises for the market as sales sizzle, auctions cool although for the time being our property markets wrestles with election uncertainty. Australia this time around won’t be paying that much attention to what is happening in America given Obama running out of time to fix economy. This was not helped when this week it was revealed that US existing home sales dive to 15 – year low which is otherwise known as tumbling houses. Quite the opposite here in Australia given the latest HIA – CBA Housing Affordability Report identifies that more than ever before our property markets are out of reach. We are seeing some areas where prices are dropping then on the other side of the coin the prices are now increasing. Household debt in Australia has risen dramatically over the past three decades, but the number of home repossessions in Victoria and NSW is on the decline because we are keeping up the payments.

Last week we brought you the Dyson Austen Top 10 Prestige Residential Survey for January – March 2010 so this week we continue with the April – June 2010 results.

Interesting to note that the Eastern Suburbs recorded eight of the sales and Mosman posted two sales with RWM recording one of these two transactions. There are two interesting conclusions that can be observed from this data. Firstly, the top–end sales appear to be rebounding with suggestions that the upcoming Spring/Summer markets may see increased competition for these trophy homes. This was always going to happen – just that nobody really knew when.

Secondly, we have a new record since the global financial crisis (GFC).

The Dyson Austen Report, Simon Feilich acknowledged “if we look at this result (above) and the highest transaction ever achieved in the survey history ($45 million – Q3 2008) both sales occurred at a time when the $AU/US has just been devalued by 12% and almost 10% respectively.”

“NOTE: The jumbo prestige residential market is directly linked to the performance of the equity market, with the only other main external factor being the $AU/US rate as seen in Q3 2008 and the latest released Q2 2010.”

Since the election debacle the $A has started to fall again, due largely to the uncertainties ahead. It appears the nobody can form a government and even if they do, it will be a s#*& fight with all the internal bickering.

So I predict we will all be headed back to the polls in October.

Cheers ^__^

This week’s sales 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

Follow Me on Twitter

27.08.10Robert Simeon2 Comments »

.

ABC Online’s chief political writer Annabel Crabb described it as the greatest oral challenge of our generation given The Emperor’s “greatest moral challenge” no longer exists, or does it? On the menu we were forced to consume Gillard’s pork pies hard to resist then we had the hidden truth behind the PM’s ‘impromptu’ speech. The 2010 federal election spending spree based on a rigour in funding promises doesn’t count for much given we have all heard the term ‘the cheque’s in the mail’ although this Sunday, the elected party will have to face the morning after … where Treasury will start costing those policies on the run, Sydney’s Parramatta to Epping rail line will come under much greater scrutiny and the inevitable financial quarantine until the next federal election.

The most frightening policy is, without a doubt, the $43 billion (43 thousand million dollars) national broadband network which stands to become the greatest white elephant in Australian political history and the biggest financial commitment for an Australian government. Interest payments for this scheme presently stand at $4.500 million per week which prompted Malcolm Turnbull to write on Business Spectator Why the NBN will fail which prompted one comment on the blog: Thank you Malcolm. I think blind Freddy could see that can you publish it in Braille as well? The leading question: is Stephen Conroy conning us on the NBN?

Classic Tim Mooney this shot was captured last Friday when the big Southerly bringing about the cancellation of the Manly Ferries

BUY PRINT

Someone should tell Julia Gillard that the fastest growing network in Australia is wireless – tailor made for Blackberry, iPhone, iPad and laptops, none of which require cable. Latest data reveals Internet searches are the most popular online activity on mobile phones. Some 73 per cent of users conduct online searches by mobile phone now, compared with 30 per cent a year ago. This explains why we launched our mobile property website last week, a first in Mosman. (This is designed to be viewed through your mobile phone)

Gillard & Co have used the white technical elephant as the NBN ‘sandbags’ for marginal seats – we should all be very concerned about this roll- out, especially as the private sector wanted no financial involvement. In economic jargon, this equates to ‘no return on investment’.

The 2010 federal election has completely ignored housing policy initiatives, because they are too hard to fathom and here is why. Rents leap as race to find home intensifies “Forget population growth, we’re not even seeing the housing needed for existing people. There’s an extremely severe housing shortage unique to Sydney.”

Housing affordability nears record low the HIA – CBA Housing Affordability Index fell 9.1 per cent in the June quarter to be 32 per cent compared to the same period last year. HIA chief economist, Harley Dale, said ‘there has been a lack of commitment during the recent federal election campaign to address the substantial hurdles aspiring home owners face.” Then “key federal policy priorities need to include a program to reduce new housing costs such as inequitable taxes and charges, better planning approvals systems, and a dedicated federal housing and development ministry to coordinate policy across all sectors and levels of government,” Mr Dale said.

I don’t share the belief by some that housing bear warns again of bubble waiting to burst as investors who are claiming losses may leave the rental markets. According to Tax Office figures, the proportion of taxpayers who own rental property has risen from 6.5 per cent in 1989 to 13.5 per cent in 2009, two thirds of whom claim a loss on investments. The rental markets are problematic, which is why we sold our property management portfolio earlier this year, to focus on our core business which is, of course, selling properties.

Always a brilliant barometer for the Sydney top end property market is the prestige property market report by Dyson Austen Top 10 for the 2010 January – March quarter.  Our very own Steve Patrick posted the fourth biggest sale with 19 Morella Road Clifton Gardens. Seven sales were recorded in the Eastern Suburbs, two to Mosman and one to Manly – overall a positive result for the prestige property markets.

The comparative analysis from 2004 to 2010 is always fascinating where you will see that the top end is holding its own and we predict a conservative improvement in the quarters ahead. One should remember that when this end of the market starts registering anecdotal sales results, the rest of the market follows suit. We don’t foresee a boom market in the immediate future, but we do see renewed market confidence and sentiment.

Next week, we will publish the Dyson Austen Top 10 sales for the 2010 April – June quarter.

So off to the polls we go tomorrow to elect a federal government for the next three years and by all accounts, it will be close. My prediction is a narrow Tony Abbott victory simply because NSW is vehemently opposed to anything Labor – Why Labor is losing the west. NSW will only start to see rapid improvement with infrastructure when they have a Liberal prime minister and a Liberal premier which will happen in March 2011. The day Gillard stopped spinning: NSW indefensible where I’m sure she regrets her policy on the run announcement about the Parramatta to Epping rail spin which will never happen under the current regime.

Who would have thought that not since 1931, we could witness just the second incumbent government removed after just the one elected term?  Who would have thought we may witness history where two prime ministers were removed in the one term?

Maybe Australia is moving forward!  Voters in Queensland and NSW will determine the outcome.

Cheers ^__^

This week’s sales 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

Follow Me on Twitter

20.08.10Robert Simeon8 Comments »

.
Without a shadow of a doubt that confusion is generated by our dominant media companies that consistently promote zoom and boom for home price growth in 2010 and beyond. You can’t really blame them, given that the global financial crisis (GFC) positioned their real estate business revenues on a hiding to nothing. We are six weeks into the 2010 market and this week’s results were mixed.

External coal – face market examinations can deliver dire consequences where our property markets are mapped on anecdotal market results. Simply put: our property housing market remains a bit skittish and definitely improving. The media companies may well be right although – only time (not crystal balls) will tell. When media companies talk the real estate market up one would be dumb and dumber to assume that vendors are not upwardly repositioning their greatest asset.

In this week’s edition of Virtual Realty News we identify – what’s going up and what’s going down. It’s a week by week proposition given last week the adjusted auction clearance rate in Mosman was 77 per cent then, this week, it dropped to 38 per cent? Next week will probably be a different story.

.

Admiralty House is arguably Australia’s most prized real estate holding as identified by Tim Mooney when he captured this amazing shot this week. Hopefully, The Emperor (Kevin Rudd) did not have Pink Batts installed in his Sydney harbourside residence – a question never tabled in Parliament House?

.

Tim Mooney Photography

Housing market shows signs of cooling – a frustrating report given that in January (every year) Australians are on holidays. Every year, our two quietest months are January and July, “The Bureau of Statistics says only 667 NSW residents took out construction loans in January, down from a high of 1,270 in September. “ September is a peak month so not exactly an accurate market critique.

Just look at our share market for a clue – weaker economies leave us in their wake.” Australia’s share market has been stalled for six months and has performed worse than many countries that are in much poorer economic shape. Twelve months after the depths of the GFC, the All Ordinaries Index is up 54 per cent from its low, but has improved just 4 per cent since September. In contrast, US shares have climbed 60 per cent since March 2009 and 9 per cent since September despite a deep recession and unemployment at 10 per cent.” A possible answer could be investors grab bigger share of home loans the grab for their largest share of housing loans since 1994.

On the flip – side business confidence at a four month high but growth remains below the highs seen in late 2009, a survey shows. The National Australia Bank (NAB) business confidence index gained four points to plus – 19 points in February. This was the surveys highest level since November 2009 when it also touched + 19 points, which just so happened to be a seven year high. What Australians spent money on during the GFC and why, in most countries it means bunkering down however, Australians went in the opposite direction when in 2009 we spent $5.000 billion on boats, bikes and caravans. In 2008 we spent $3.500 billion!

This is the telling graph given Australian home prices surged 13.6 per cent in 2009. What many are missing, is exactly what triggered the recovery. Earlier this week I was chatting on the phone with a Virtual Realty News subscriber who also happens to oversee one of Australia’s largest mortgage books. He pointed out that as first home buyers entered the market they drove prices up and the recipients then went out and purchased more expensive property. In January this year home loans slump most in a decade falling by 7.9 per cent which was the largest fall since June 2000. “The number of first – home buyer loans as a share of total borrowing edged down from 21 per cent of the total in December to 20.5 per cent in January 2010. Home loans for new houses dropped 13.2 per cent to 2,146 in January, while loans for established dwellings dropped 8.2 per cent to 42,303. The true real estate market grows organically and I don’t support government cash hand outs to entice purchasers, knowing that cash rates will continue to go up – not down.

On the flip – side RBA warns home prices could go higher. Assistant governor Phillip Lowe said if the nation’s population growth remained strong, more of the economy would need to be devoted towards housing, presenting challenges both to labour markets and governments. He must have read last week’s edition as Fort Fumbles (Federal government) have our builders constructing school halls instead of working on bricks and mortar. Liberal backbencher Malcolm Turnbull wrote an interesting piece in The Sydney Morning Herald this week The government throws prudence – and billions – to the wind. Great to see our Virtual Realty News commentaries remain a week ahead of our elected politician’s viewpoints.

We all share an obsession for Sydney’s top end of town property results so here is the Dyson Austen Top 10 Prestige Residential Survey for Quarter 3 – 2009 and Quarter 4 – 2009. The Sydney top – end barometer and the results identify our markets road to recovery.
.

Dyson Austen Top 10 – July to September 2009

.

RWM led this recovery when we posted $63 million worth of sales in June 2009 and grabbed top spot with the sale of Lodge Road Cremorne (this is the very first time that a Cremorne home has attained poll position). The vendors are subscribers. This survey identifies that the Top 10 was up 7.2 per cent from the previous quarter.

Now we see (with the published results for the December quarter 2009) the obvious upward movement as the economy recovers. The previous quarter’s top sale would have come in at position five. The Top 10 jumped up another 12.2 per cent when compared to the previous quarter so it will be intriguing to see what the first quarter of 2010 delivers. What we see here first hand is our property market recovery from the GFC first hand. For mine: the top end identifies the exact strength of our markets because it is the indulgence market that sets market sentiment. Just as interesting, when Australia was in the midst of the GFC this market all but shut down – a clue. The first home buyers stole the limelight with cash government incentives, marinated with record low rates. Remember also, that The Emperor removed foreign ownership constraints when he dismantled the Foreign Investment Review Board – Top Sydney properties snapped up.
.

Dyson Austen Top 10 – October to December 2009

.

.

Great commentaries on our blog regarding last week’s edition. The Henry Tax Review keeps grabbing attention for most obvious reasons. The Emperor was just too busy to release tax review. He was probably engrossed in reading review ‘hollow’ with no income tax re-jig”.

We went further a field for those who love paying tax and are happy to present The Unfinished Business of Australian Tax Reform which is an amazing report by Robert Carling. I loved this quote “Do we really want more redistribution? Don’t we already have too much, in that policy is paying too much attention to re – slicing the economic pie at the expense of making it larger”?

The same could be said about the Federal Budget Stimulus.

Back again next week and we’ll chat further with you on our blog.

Cheers ^__^

This week’s sales Mosman real estate, Cremorne real estate, Cremorne Point real estate, Balmoral real estate, Neutral Bay real estate, Cammeray real estate Click Here

This week’s RWM open for inspections Click Here

Follow Me on Twitter

12.03.10Robert Simeon5 Comments »

.

I love an exclusive! Hang the expense (no pun intended), as we closely examine the impact of the global financial crisis on Sydney’s top – end housing markets. Courtesy of Dyson Austen & Co Pty Ltd, a leading property valuation company, we publish its comprehensive quarterly reports from Quarter 3 – July to September 2008 to Quarter 2 – April to June 2009. These are compelling results.

This is the first time these reports have been published (in the public domain) and what an insight it offers to better understand these mysterious market machinations. Simon Feilich, director of Dyson Austen also offers his expert commentary and independent predictions relating to Sydney’s (recession proof) rich and famous. We have also engaged the master of aerial photography, Tim Mooney,to share with you, a closer insight into some of these spectacular Sydney residential homes. Another amazing statistic is that Tim Mooney photographed approximately ninety per cent of these prestige properties – a clue for real estate agents and vendors. Aerial photographs are a must!

Tim Mooney Photography

www.timmooneyphotography.com

The quarterly Dyson Austen prestige residential survey, prepared for the Real Estate Institute of NSW for the last 4 quarters, has been released today and Director, Simon Feilich, said “ it indicates a reduction in gross sales per quarter of almost 45% from its peak of September 2008.The decrease in real terms was approx $110 million from $198 million”.

Dyson Austen Top 10 Sydney Prestige Residential Survey 2008 Q3 July – September

In this period interest rates decreased from 7.25 per cent to 7 per cent.

Top 10

.
1. 23 – 25 Coolong Road Vaucluse $45.000 million
2. 23 Victoria Street Watsons Bay $28.100 million
3. 108 Wolseley Road Point Piper $27.000 – $28.000 million
4. 4 Pacific Street Watsons Bay $22.500 million
5. 114 Wolseley Road Point Piper $20.550 million
6. 92 – 94 Prince Alfred Parade Newport $14.600 million
7. 9 Caledonian Road Rose Bay $10.800 million
8. 15 Thompson Street Tamarama $10.500 million
9. 12A & 12C Crescent Street Hunters Hill $9.200 million
10. 56 & 57/56 Pirrama Road Pyrmont $9.140 million

Total $197.890 million the highest ever recorded.

Dyson Austen Top 10 Sydney Prestige Residential Survey 2008 Q4 October – December

In this period interest rates decreased from 7 per cent to 4.25 per cent.
.

Top 10

.
1. 4 & 6 Burran Avenue Mosman $19.750 million
2. 37 Wunulla Road Point Piper $18.450 million
3. 9 Wentworth Place Point Piper $14.900 million
4. 2 Loch Maree Place Vaucluse $12.500 million
5. 20 Pacific Street Watsons Bay $12.500 million*
6. 22 Pacific Street Watsons Bay $12.500 million*
7. 7 Wharf Road Vaucluse $12.000 – $13.000 million*
8. 39 – 40 Ocean Road Palm Beach $12.000 million
9. 43 Wharf Road Birchgrove $11.500 million
10. (=) 4 Wolseley Crescent Point Piper $10.500 million
(=) 1 Arbutus Street Mosman $10.500 million

Total $137,100 million the sixth highest ever recorded. * Approximately

Tim Mooney Photography

.www.timmooneyphotography.com

Dyson Austen Top 10 Sydney Prestige Residential Survey 2009 Q1 January – March

In this period interest rates decreased from 4.25 per cent to 3.25 per cent.
.

Top 10

.
1. 5 Rose Bay Avenue Bellevue Hill $17.000 million
2. 25 Victoria Street Watsons Bay $16.000 million
3. 8A Ginahgulla Road Bellevue Hill $15.000 million
4. 6 Buena Vista Avenue Mosman $13.200 million
5. 29 New South Head Road Vaucluse $12.900 million
6. 71 Yarranabbe Road Darling Point $12.600 million
7. 22 Rosemount Avenue Woollahra $11.800 million
8. 53 Fitzwilliam Road Vaucluse $9.000 million
9. 1A Arbutus Street Mosman $8.500 million
10. 86B Victoria Road Bellevue Hill $7.900 million

Total $123.900 million the ninth highest ever recorded. * Approximately

Dyson Austen Top 10 Sydney Prestige Residential Survey 2009 Q2 April – June

In this period interest rates decreased from 3.25 per cent to 3.00 per cent.
.

Top 10

.
1. 40 Wentworth Road Vaucluse $18.000 million
2. 2 Pacific Street Watsons Bay $16.450 million
3. 1129 Barrenjoey Road Palm Beach $12.000 million
4. 16 Tivoli Avenue Rose Bay $10.500 million*
5. 20 Tivoli Avenue Rose Bay $10.500 million*
6. 15A Burran Avenue Mosman $10.250 million*
7. 22A Vaucluse Road Vaucluse $9.000 million*
8. 44 – 46 Lang Road Centennial Park $8.300 million
9. 12/12 Onslow Avenue Elizabeth Bay $8.000 – $8.300 million*
10. 17 Trelawaney Street Woollahra $7.850 million

Total $110.115 million the fifteenth highest ever recorded. *Approximately

Agent in order of how many of the sales over 12 months they were involved in -

LJ Hooker Double Bay 8
Ray White Double Bay 7
Ken Jacobs 5
McGrath 4
Raine & Horne Double Bay 3
Richardson & Wrench Mosman 2
Knight Frank 2
Laing & Simmons Double Bay 2
LJ Hooker Palm Beach 2
Cassim 2
Richardson & Wrench Double Bay 2
Bradfield & Pritchard 1
Feldi 1
Goodyer Donnelly 1
LJ Hooker Avalon 1
Place 1
Raine & Horne Mosman 1
Ray White Lower North Shore 1
Richardson & Wrench Elizabeth Bay 1
Sotheby’s 1
Ward 1

Source: Dyson Austen

www.dysonausten.com.au
.

40 sales for the year in dollar value order – July 2008 to June 2009

.
23-25 Coolong Road Vaucluse $45.000 Q308 McGrath / Cassim
23 Victoria Street Watsons Bay $28.100 Q308 Ken Jacobs / RW DB
108 Wolseley Road Point Piper $27.500 Q308 R&W DB
4 Pacific Street Watsons Bay $22.500 Q308 RW DB
114 Wolseley Road Point Piper $20.550 Q308 LJH DB
4 & 6 Burran Avenue Mosman $19.750 Q408 R&H Mosman
37 Wunulla Road Point Piper $18.450 Q408 LJH DB / L&S DB
40 Wentworth Road Vaucluse $18.000 Q209 RWDB / Cassim
5 Rose Bay Avenue Bellevue Hill $17.000 Q109 LJH DB
2 Pacific Street Watsons Bay $16.450 Q209 RWDB
25 Victoria Street Watsons Bay $16.000 Q109 No agent
8A Ginahgulla Road Bellevue Hill $15.000 Q109 RWDB
9 Wentworth Place Point Piper $14.900 Q408 Sotheby’s / LJH DB
92-94 Prince Alfred Parade Newport $14.600 Q308 LJH Avalon
6 Buena Vista Avenue Mosman $13.200 Q109 R&W Mosman
29 New South Head Road Vaucluse $12.900 Q109 R&H DB
71 Yarranabbe Road Darling Point $12.600 Q109 R&H DB
2 Loch Maree Place Vaucluse $12.500 Q408 LJH DB
20 Pacific Street Watsons Bay $12.500 Q408 RW DB / Ken Jacobs
22 Pacific Street Watsons Bay $12.500 Q408 Ken Kacobs
7 Wharf Road Vaucluse $12.500 Q408 R&W DB
39-40 Ocean Road Palm Beach $12.000 Q408 Knight Frank / LJH PB
1129 Barenjoey Road Palm Beach $12.000 Q209 RW DB
22 Rosemont Avenue Woollahra $11.800 Q109 McGrath
43 Wharf Road Birchgrove $11.500 Q408 No agent
9 Caledonian Road Rose Bay $10.800 Q308 RW DB
4 Wolseley Crescent Point Piper $10.500 Q408 R&H DB
1 Arbutus Street Mosman $10.500 Q408 RW LNS
16 Tivoli Avenue Rose Bay $10.500 Q209 LJH DB
20 Tivoli Avenue Rose Bay $10.500 Q209 LJH DB
15 Thompson Street Tamarama $10.500 Q308 Goodyer Donnelly
15A Burran Avnue Mosman $10.250 Q209 Ken Jacobs / R&W Mosman
12A & 12C Crescent Street Hunters Hill $9.200 Q308 Ward Partners
56 & 57/56 Pirrama Road Pyrmont $9.140 Q308 Feldi
53 Fitzwilliam Road Vaucluse $9.000 Q109 L&S DB
22A Vaucluse Road Vaucluse $9.000 Q209 Ken Jacobs
1A Arbutus Street Mosman $8.500 Q109 McGrath
44-46 Lang Road Centennial Park $8.300 Q209 Knight Frank / B&P
12/12 Onslow Avenue Elizabeth Bay $8.150 Q209 R&W EB/PP
86B Victoria Road Bellevue Hill $7.900 Q109 Place / LJH DB
17 Trelawney Street Woollahra $7.850 Q209 McGrath

Source: Dyson Austen

www.dysonausten.com.au

So let’s extrapolate this data. Dyson Austen Director Simon Feilich said “This takes us back to the June Quarter 2006 which had a lower quarterly total of approx $88 million.”

“In viewing the top 40 sales for the year, the top 5 all occurred in the 3rd quarter 2008, and as the world global financial crises got worse so too did this sector.”

“The five lowest sales all occurred in the 1st and 2nd quarters of 2009 and were as low as $7.5500 million.”

“One of the strengths in the September 2008 quarter was due to the $A dollar collapsing by approximately 17.5 %.”

“The future is hard to predict and revolves around the buoyancy of the equity market which has seen rapid increases since its lows of 2009.”

“Should there be no “w” in the economy but rather the “v” which some commentators believe is the case, continuing strength in the equity market and increased funds available in the lending markets , with unemployment not decreasing I think the worst is over.”

For those unsure of this “w” and “v” language, “w” = double dip in the economy, a recovery, then another collapse and “v” = is what we have at the moment where recovery continues in an upward trend.

It’s all about confidence – the National Australia Bank (NAB) this week released its monthly business survey’s measure of business confidence which increased 8 index points to plus – 18 points in August. The highest level in almost six years (2003).

This week’s unemployment figures identified that it has steadied although it should be noted that there still remains some degree of volatility and hopefully it has peaked at 5.7 per cent – well below the projected 8 per cent.

Carsales.com floated this week which was a great test for our financial markets. Business Spectator reported. “There would have been a lot of relieved investment bankers and promoters after Carsales.com drove smoothly onto the ASX lists. The listing, the first big initial float since the financial crisis erupted, was seen as a vital tone-setter for the pipeline of IPOs, some larger, to come.

A solid gain of about 10 per cent on the $3.50 issue price would be regarded as a ‘just about right’ outcome – not too big a gain to upset the relatively small group of pre-existing shareholders who sold into the offer process but big enough to make the subscribers content.”

That, ladies and gentlemen, is the conclusion of this week’s report and remember where you read it first. My special thanks to Simon Feilich and Tim Mooney for their much appreciated assistance with the preparation of this week’s edition of Virtual Realty News.

Cheers ^__^

For this week’s recorded Mosman real estate, Cremorne real estate, Neutral Bay real estate and Cammeray real estate sales www.rwm.com.au/news/

Follow Me on Twitter

11.09.09Robert Simeon1 Comment »