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Just two more sleeps, then Julia Gillard will reveal to all, her Top Secret Carbon Tax. So intricate and delicate is this most Secretive Weapon of Mass Taxation (SWMT) announcement, it demanded complete denial during the 2010 federal election. The complexities of this SWMT are so mentally demanding, that a collaboration of the finest minds was necessary to make this decision for and on our behalf: namely, the Multi–Party Climate Change Committee. An elite membership of minds requiring just the one common denominator, i.e.  absolutely no business experience.

Fading public support spells doom for carbon tax where it would be fair to suggest that the vast majority of Australians don’t like the manner in which the tax was introduced which then opens the debate on whether the government can be trusted.  If the polls are an indication, the answer is a clear ‘no’. Liberal states band together for carbon tax showdown with Julia Gillard by questioning warnings of heavy job losses and unprecedented power price rises. Throw in an industry push to wipe out carbon price where some of Australia’s biggest industry organisations plan to spend millions of dollars (of their own money) to fight the tax. The Gillard government will go toe-to-toe with its advertising campaign and will be using taxpayer monies.

Ita Buttrose blasts Prime Minister Julia Gillard when she ripped into Julia Gillard’s leadership (or lack thereof) – unleashing a harsh critique of the PM’s time in office and challenging her to call an election. Next a political bombshell! Rangas dump fellow redhead Julia Gillard when the Red And Nearly Ginger Association (RANGA), who claim to represent the nation’s redheads, said it was withdrawing its support because she is giving gingers a bad name. The RANGA group cited disloyalty, dishonesty and incompetence as the three contributing factors.

BUY PRINT

No rivers of gold in Canberra’s Gold Creek – which today resembles Fort Fumbles budget deficit. Get those rivers of gold flowing again so bring in a carbon tax we’ll call it Gillard’s Gold – The Eureka of Taxes.

Little wonder nervous Labor MPs quiz Julia Gillard in caucus over key issues given the SWMT has their political careers on life support. As Labor support plummets in Queensland: Newspoll where even Australia’s greatest ever Treasurer Wayne Swan could be voted out – ah it’s that SWMT again. So Professor Gillard reverted back to scientific debate renewing climate change warnings with doomsday – like comparisons although we all know that Australia’s SWMT reductions will play next to no role in global reductions. Alas! Constituents battle this mentally taxing issue: albeit without consultation and participation.

What a wonderful democratic society we now find ourselves in where the kryptonite for constituents to rely on is otherwise known as polls – Julia Gillard’s Fort Fumble has rapidly morphed itself into Kristina Keneally’s Fort Crumble Mk II. Can the carbon tax refloat the beached ALP ship? Graham Richardson has made up his mind. Labor is shot to bits and there is no way back for Julia Gillard or the party she leads. Put down the glasses and wait for 2013 to deliver the first Abbott administration.

The Australian – Order Bill Leak’s Print

Carbon scheme to hit state dividends the chief of NSW state-owned power provider Macquarie Generation, Russel Skelton said he expected additional costs of up to $700 million per year, which would lead to the elimination of all dividends his company would have paid to the state, The Australian reports. Just what NSW needs when Treasurer Mike Baird warns of NSW budget cuts with the state’s finances “utterly out of control” given the inherited $5.2 billion black hole, care of the previous Keneally government. NSW is broke, with the budget in complete disarray to the extent that the state is not funding its operating costs from current revenue models.

Reserve Bank of Australia holds interest rates as growth stalls given the RBA’s forecast of 4.25 per cent economic expansion in 2011 – 12 can’t be met (Treasury predicted 4.00 per cent). If you are in the mining industry you are doing brilliantly. For those not in mining, the future is looking bleak. The good news is that interest rates will not be rising this year given the RBA revised down growth predictions from 4.25 per cent to 2.5 per cent which sends a very strong indication that the Australian economy is going backwards. Unless of course you are in mining!

The Mosman, Cremorne and Neutral Bay property markets appear to be enjoying the annual winter hibernation given the unprecedented low levels of available properties. I’ve been writing Virtual Realty News for eleven years and can’t ever remember such low stock levels especially in house volumes.  No panic selling – more a sign of battening down the hatches.

MOSMAN – 2088

• Number of houses on the market last week – 87
• Number of houses on the market this week – 83
• Number of apartments on the market last week – 97
• Number of apartments on the market this week – 99

CREMORNE – 2090

• Number of houses on the market last week – 15
• Number of houses on the market this week –  16
• Number of apartments on the market last week – 33
• Number of apartments on the market this week – 34

NEUTRAL BAY – 2089

• Number of houses on the market last week – 9
• Number of houses on the market this week – 7
• Number of apartments on the market last week – 67
• Number of apartments on the market this week – 62

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

By sheer definition, a tax means that either directly, or indirectly, somebody must pay. Recently I wrote Nothing new about for NSW for Property Observer a carbon tax is the last thing the NSW Liberal government needs, considering that the previous NSW Labor government has all but bankrupted the state.

The prime minister keeps telling us that Australia is in a very strong economic position – obviously economics is not her strong point. Next Tuesday, the latest Newspoll will be released and her popularity will, in all probability, remain in freefall.

The O’Farrell NSW government is concentrating on infrastructure. It would appease Australians if the Gillard government followed suit. Construction shrinks for 13^th month the Australian Industry Group/ Housing Industry Association performance of construction index fell by 3.8 points to 35.8 in June. The benchmark is 50 – anything above represents expansion and below, identifies contraction.

“Building a better Australia” – Ms Julia Gillard.

It’s not just the carbon tax causing truth or scare for  Australians!

Cheers ^__^

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8.07.11Robert Simeon6 Comments »

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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.

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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?

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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.
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Dyson Austen Top 10 – July to September 2009

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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.
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Dyson Austen Top 10 – October to December 2009

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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

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12.03.10Robert Simeon5 Comments »

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An extraordinary week in Australian politics that resembled the “Battle of Sydney Harbour” or maybe “Battleships in the Big Bathtub” – where part of all contestants’ boundaries (by coincidence) were the high water marks of Sydney Harbour. The “Mad Monk” won line honours and yet, as with any race (fluid spill motions) there are always protests and on the very same day, the Reserve Bank of Australia (RBA) broke tradition and raised the cash rate (+0.25%) for the third consecutive month – a day of threes!

The cash rate, now at 3.75 per cent, keeps heading north and whilst on north, rumours that “The Emperor” Kevin Rudd is auditioning for Getaway, remain totally unsubstantiated. We can however, be sure that somewhere, he is up – up – and away and if he does call a double dissolution, will have to return to our shores sooner rather than later.

Gerard Henderson wrote an interesting article that appeared in the Sydney Morning Herald – Lodge is a long way off, but the new man will shore up base. “Since its formation in 1944, the Liberal Party has won office from Labor on three occasions, Robert Menzies defeated Ben Chifley in 1949, Malcolm Fraser prevailed over Gough Whitlam in December 1975 and John Howard vanquished Paul Keating in March 1996.” What I did find amazing was this “It is most unlikely that Abbott can lead the Coalition to victory in next year’s election. No government has been defeated in its first election since 1931, when Labor prime minister, James Scullin, faced not only the impact of the Great Depression but also splits within his own party.”

Was the Mad Monk bunkered down at his Mosman headquarters – whilst observing troop movements at the harbour bunkers of Turnbull and Hockey? Loose lips sink ships. We asked Tim Mooney to fly over Tony Abbott’s Mosman bunker.

www.timmooneyphotography.com

Westpac has jumped the starting gun where as quick as a flash it raised its standard variable home loan by 45 basis points to 6.76 per cent which comes into effect today. On November 5, 2009 John Rolfe from The Daily Telegraph wrote Cut Government taxes on savings, says Westpac boss Gail Kelly. It would appear to some, that raising rates has nothing to do with household savings. National Australia Bank (NAB) increased its home loan rates by +0.25 per cent and then attacked Westpac with this announcement “We are determined to be competitive, to offer our customers a better deal and attract new customers to NAB. Today we are sending a message to customers at Westpac, and the other banks, that NAB can offer them a better deal.”

“Westpac CEO Gail Kelly argued yesterday (November 4, 2009) that if we all had more money salted away the country could have ducked the global financial crisis.” So in the aftermath now that the crisis has passed one can only then assume that Westpac is quickly making up for lost opportunities. Business Spectator – THE DISTILLERY: Waving Westpac through John Durie of The Australian concludes that the bank “is acting entirely rationally by extending the duration of its loans, chasing deposits aggressively as evidenced by its present campaign offering 6.8 per cent for 12 – month money and raising the cost of loans to protect profits. Its deposits now offer 130 basis points more than its closest competitors and 145 basis points more than the ANZ. This is a bank demonstrating its market strength emphatically, unworried by the potential for either market or political downside.” Or “roughly in simpatico is Matthew Stevens of The Australian who reasons that “Westpac’s decision to confront its customers with the nasty realities of our national funding dilemma serves to, once again, demonstrate the shaping dislocation of the Australian banking system triggered by the GFC. The latest credit growth numbers, for example, confirm the widening schism of the Four Pillars into a two – and – two – configuration. The data shows that the Commonwealth and Westpac now dominate the system growth like never before, speaking for 80 per cent of loan growth over October.” Wayne Swan approved the acquisition St George Bank by Westpac.

Market share of the big four banks, including BankWest and St George as at September 30 / Source: The Australian

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Macquarie Economics Research wrote Interest Rate Outlook – Gradual gets quicker

• “The RBA lifted the cash rate by 25bps in December. While the RBA’s view of the world has changed little since November, the news over the past month has reinforced their view that the recovery in train is on stable ground. We expect the cash rate to reach 4.50 % by the end of 2010.”

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Reserve Bank Deputy Governor Ric Battellino is indeed very upbeat about the Australian economy in that we can expect and look forward to years of economic growth on the back of booming resources, escalating population growth with rising household incomes. The RBA is predicting a strong escalation of house prices because Australia had entered “a new upswing” that would extend its record 18 years of continuous economic expansion.

RP Data revealed this week that house prices have doubled to an average $600,000 over the past ten years – the average Sydney house price was $300,000 back in 1999. The average price for an apartment in 1999 was $270,000 today it is $457,274.

The latest BIS Shrapnel Residential Property Prospects report identified that residential rent are expected to rise by an average 5.8 per cent a year over the next three years. This compares with a 5.7 per cent increase in 2009 and an average annual rate of 4.4 per cent between 2002 and 2008. Throw in an electricity bill expected to rise by 60 per cent over the next three years (according to an IPART report).

Fort Crumble was at it again and we now have our fourth premier in four years – recruitment companies would be well justified in opening up a sacked premier’s division. Now we have our first female premier – Kristina Keneally (no strings attached)! Can’t wait to see who makes up her front bench? Not that she will have any say in it! The Daily Telegraph is running a petition for an early election (To Sign)

Last edition of Virtual Realty News for 2009 next week – the chaos of this week would be very hard to beat. Thankfully it is controlled – however we all know that elected politicians make great puppeteers.

Cheers ^__^

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

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4.12.09Robert Simeon1 Comment »

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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

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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.
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Top 10

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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.
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Top 10

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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.
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Top 10

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

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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/

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11.09.09Robert Simeon1 Comment »