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Rupert Murdoch once said, “The internet has been the most fundamental change during my lifetime and for hundreds of years”. Someone the other day said, “It’s the biggest thing since Guttenberg” and then someone else said, “No, it’s the biggest thing since the invention of writing.” If that is the case (and I certainly don’t doubt it) it illustrates the numbers in Australian businesses who have trouble reading!

From my perspective, consumers use the Internet to see what’s happening, whether it be social media, online newspapers, online shopping, real estate etc – etc. The secret is growing the audience, otherwise known as Unique Visitors (UVs), which has become a huge problem within Australian businesses as they struggle to formulate effective and successful online strategies. Just look at our retail markets which are being decimated as they struggle to compete with the world’s biggest shopping centre – online! In the last week, David Jones, Coles, Harvey Norman, Woolworths fight for flexible opening hours to compete with internet trade which is an absolute no brainer given Australian shoppers ripped off by retailer mark – ups – Choice. Even Myer tries its luck with using Facebook, Youtube in social media marketing which is quite amazing and retailers must now move to online and not ‘offline’. Although retail sales beat forecasts in April however the simple reality is that Sydney, Melbourne and Brisbane remain in the top 10 most expensive cities in the world as department stores struggle to set sale.

The cost of living in Australia is skyrocketing as is the Aussie dollar, so consumers are cashing in on these new online markets. Consumers in retail are now negotiating online, much like ‘ducks to water’. A click not a salesman’s pitch comes with an online review. How times change – just a decade ago, the Australian dollar was struggling at 47.75 US cents. Today Australian retail is finding it almost impossible to compete, given the Australian dollar is sitting now at around 108.00 US cents.

BUY PRINT

The changing face of online advertising provides a fascinating critique of where businesses need to be: make no mistake, this is not a false alarm. The conundrum facing businesses is, that what is happening today, was never contemplated during those hazy university days. By 2015, what we do today will look like a 1980’s re-run of Homicide.

VIDEO ADVERTISING

Google predicts that by 2015, 50 per cent of ad campaigns will include video ads – Australians are now watching almost 1 billion videos online each month. Video based advertising grew by 83 per cent year on year in Australia, total video spend by advertisers equated to 5.3 per cent ($33.4m). This demonstrates just where this industry will be, in four short years.

MOBILE ADVERTISING

By 2015, it is expected that mobile internet will surpass desktop internet usage – global mobile advertising spent, will total $3.3 billion in 2011 and expected to reach $20.6 billion by 2015.

Fairfax Media Chief Executive, Greg Hywood, this week announced era of free content is over says Fairfax chief therefore charging users to access parts of the Fairfax website.  Good luck Greg!  I respectfully suggest that you look at your point of difference over your competitors? I can’t think of one, given the current trend is for leading print journalists to move to online models.

Commonwealth Bank still paying the price for November rate stinger a consumer rebuke can cost a business millions in lost revenues (better known as customer comfort).  The Fairfax move could easily result in consumer dissatisfaction. After all the ABC website will always be free. The jury is still out – however the consumer sentencing could very well be terminal.  Which takes me to that other sales pitch.

The dumbest sales pitch of the week would go to Cate Blanchett who, when launching her Carbon Tax campaign said, ‘Say Yes”.  Cate – Australians have no say in the carbon tax and why would you suggest we say yes, when the carbon price is yet to be announced? Even stranger – Australia’s greatest political lie was Julia Gillard’s announcement that “there will be no carbon tax under any government that I lead”.  We don’t get a say with the Carbon Tax but we do have opinion polls.

Source: The Australian- order Bill Leak’s print

The March quarter Gross Domestic Product (GDP) was released this week – Economy suffers biggest quarterly contraction in 20 years with a 1.2 per cent decline recorded.  Floods and cyclones severely impacted exports. Whilst many are expecting a positive mining return it should be noted that eight of the nineteen industry sectors contracted in the March quarter. A recession? It’s technically possible “With housing finance falling, retail struggling as consumers reduce their spending and move towards foreign online retail for their purchases, and business credit 1.1 per cent lower than a year ago, it won’t be an easy ride. It will also make Wayne Swan’s budget estimates look increasingly rubbery.”

This brings me to the real estate industry which reminds me of the retail industry – both have no idea about using technology and modern age marketing strategies. Consumers demand facts that are exacting for their very own market analysis. When real estate markets start declining there is an overwhelming tendency by real estate agents to hide and not face the realities of the day.

Real estate agents absolutely hate these graphs as they paint a negative marketing positioning. I happen to love them, because we have a weekly blog and that allows us to defend our real estate markets. Like the GDP figures, real estate markets need to be assessed on a Quarter by Quarter basis too. So let’s look at the Mosman market (data is still not complete, with many sale prices yet to be recorded.) We will compare the Mosman March Quarter 2010 with the March Quarter 2011.

Source: Domain Property Data

MOSMAN HOUSE SALES MARCH QUARTER 2010

• Total Number Offered – 105
• Private Treaty – 75
• Public Auction – 16
• Total Sales – 91
• Total Value Sold – $230,950,500
• Average Price – $2,685,470

MOSMAN HOUSE SALES MARCH QUARTER 2011

• Total Number Offered – 84
• Private Treaty – 47
• Public Auction – 14
• Total Sales – 61
• Total Value Sold – $107,071,000
• Average Price – $2,817,657

RWM RESEARCH – Another 28 sold properties are still to have their sale prices recorded so the Total Value Sold will increase significantly from the current figure of $107,071,000. The Average Price for a Mosman house in the March Quarter 2010 was $2,685,470.  In the March Quarter 2011 it increased to $2,817,657 with a strong possibility that when the remaining sales are recorded it will go higher. In the March quarter 2009 the average price was $2,653,061, 2008 $3,093,770, 2007 $2,617,332, 2006 $2,303,107 and 2005 $2,296,323.

There are approximately 4,900 houses in Mosman – so here are this week’s statistics for properties currently for sale in Mosman, Cremorne and Neutral Bay.

MOSMAN – 2088

• Number of houses on the market last week – 118
• Number of houses on the market this week – 118
• Number of apartments on the market last week – 96
• Number of apartments on the market this week – 96

CREMORNE – 2090

• Number of houses on the market last week – 18
• Number of houses on the market this week – 17
• Number of apartments on the market last week – 36
• Number of apartments on the market this week – 37

NEUTRAL BAY – 2089

• Number of houses on the market last week – 12
• Number of houses on the market this week – 13
• Number of apartments on the market last week – 58
• Number of apartments on the market this week – 66

For those subscribers who absolutely love statistics, of the 4,900 houses in Mosman,  just 118 are on the market this week. That is just 2.40 per cent!  When the Mosman house market is trading at full speed, there are around 275 houses on the market which represents 5.61 per cent. No other real estate agency in Mosman follows the Mosman market closer than Richardson & Wrench Mosman & Neutral Bay (RWM).

Without a doubt, the worst and most embarrassing property statistic that emerged this week was that the rental vacancy rate for Sydney suburbs within a 10 – kilometre radius of the CBD, fell 0.2 per cent to 0.9 per cent in April, REINSW data.  A healthy rental market should have a vacancy rate somewhere in the range of 2.5 per cent to 3.00 per cent. In my eleven years of writing Virtual Realty News this is the lowest recorded vacancy rate that Sydney has ever seen and a bloody disgrace – when rents will continue to sky rocket.

Bear in mind that one in four to retire without owning home: study yet Julia Gillard’s hopeless Fort Fumble wants to spend billions on a NBN scheme and a Carbon Tax. Throw in rising cost of living expenses and still Wayne Swan tells us that the Australian economy is tracking well?

There is also huge vacancy rate in Canberra and for politicians, it’s actually between their ears.

Alas, the Death of Salesman in 2011? If you sell, using the latest technologies, consumers will buy. If you don’t, your market will be significantly diminished.  Should the June GDP results decline again, it means nobody is buying Australia or the government for that matter. We all know nobody ever buys taxes!

Jonathan Chancellor files his final ‘Title Deeds’ tomorrow after 26 years of writing Australia’s most iconic real estate read. Jonathan still remains tight – lipped about his move which is to online publishing and all I can say is – Crikey!! Margie Blok, who is no stranger to “Title Deeds”, will be taking over letter – box patrol.

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

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3.06.11Robert Simeon4 Comments »

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There is no doubt that a large proportion of our housing market is delicately poised and many are pointing to an overpriced top –end.  I don’t subscribe to that theory and believe it runs much deeper, to what is called ‘human sentiment’.   The global financial crisis (GFC) has led to a re – evaluation of our lifestyles, especially when it comes to property. The GFC brought about an immediate end to Australia’s unprecedented eighteen year run of economic growth which in real terms meant that a large proportion of workers and business owners experienced income declines not seen for nearly two decades.

When we analyse our property market, we need to apply the strongest rule– of–thumb which is the Household Estimates of 2007 – 2008. The next Census of Population and Housing will be conducted on August 9, 2011. The current Household Estimates tells us that in Australia, 2,399,900 (30 per cent) households rent property. Those that own without a mortgage make up 2,679,200 (34 per cent) which leaves us with the market that banks are now fighting for – the 2,835,200 (36 per cent) who own with a mortgage.

Rates may hold for year: Reserve chief so then we see NAB’s exit plan triggers fresh lender mortgage war with rivals so happy days as consumers to win as Big Four banks declare war. Credit is an economy’s rocket fuel which has now been superseded in Australia as household savings outgrow spending. We need to dig deeper to find what’s behind the credit drought? “Much of the world is currently suffering a nasty hangover from explosive credit growth. And while we’ve so far escaped any scorching pain in Australia, credit growth has throttled back to near 20 year lows. After a 12 year credit binge Australians are now carrying more debt than ever. The First Home Buyer Grant encouraged the take up of mortgages and cheap credit financed consumer spending, from credit cards to margin loans.”

BUY PRINT

“Since the financial crisis, our national savings rate has increased sharply. That’s what one would expect. Thrift usually follows excess, especially when a string of interest rate increases and higher food and energy prices reduce disposable income. A higher savings rate and the resulting lower credit growth are rational responses.”

Jonathan Chancellor from the Sydney Morning Herald wrote Sydney’s reality check – “there will be joy for some and tears for others in 2011.”  Mosman in 2011, has started off in lock–down mode with available properties well down on previous years. Records tumble but rise in listings will cool prices which is always an accurate assessment.

Our review of Richardson & Wrench Mosman & Neutral Bay’s (RWM) sales results for 2010, revealed   sixteen new street records in a challenging market. This week we set a new street record when contracts were exchanged for 42 Cowles Road Mosman.

Here at RWM we constantly challenge the markets with anecdotal evidence. For example, we combined sales data from Domain Property Data with the resources of RWM Property Research and listed below, are Mosman house sales from 1999 to 2005.  Footnote: pay particular attention to average and median growth as well as auction clearance rates.

1999 – Mosman House Sales to $5,000,000

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• Number of houses sold – 424
• Total Value – $522,523,578
• Median Price – $1,067,000
• Average Price – $1,235,280
• Highest Price – $6,400,000
• Auction Clearance Rate – 45 per cent
• House Sales to $999,999 – 185
• House Sales above $1,000,000 – 189
• House Sales above $2,000,000 – 39
• House Sales above $3,000,000 – 9
• House Sales above $4,000,000 – 2

RWM Research observations: Mosman has approximately 4,900 houses so 8.7% per cent of houses sold. House sales up to $999,999 were 374 which is approximately 88.5 per cent of total sales.

2000 – Mosman House Sales to $5,000,000

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• Number of houses sold – 332
• Total Value – $441,452,395
• Median Price – $1,155,000
• Average Price – $1,329,677
• Highest Price – $5,900,000
• Auction Clearance Rate – 51 per cent
• House Sales to $999,999 – 119
• House Sales above $1,000,000 – 137
• House Sales above $2,000,000 – 62
• House Sales above $3,000,000 – 11
• House Sales above $4,000,000 – 3

RWM Research observations: Mosman has approximately 4,900 houses so 6.6 per cent of houses sold. The auction clearance rate increased from 45 per cent to 51 per cent. House sales up to $999,999 were 256 which is approximately 77 per cent of total sales.

2001 – Mosman House Sales to $5,000,000

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• Number of houses sold – 399
• Total Value – $618,004,118
• Median Price – $1,300,000
• Average Price – $1,548,882
• Highest Price – $15,500,000 (RWM)
• Auction Clearance Rate – 54 per cent
• House Sales to $999,999 – 122
• House Sales above $1,000,000 – 161
• House Sales above $2,000,000 – 73
• House sales above $3,000,000 – 32
• House Sales above $4,000,000 – 11

RWM Research observations: Mosman has approximately 4,900 houses so 8.1 per cent of houses sold. House sales up to $999,999 were 283 which is approximately 71 per cent of total sales The auction clearance rate increased from 51 per cent to 54 per cent.

2002 – Mosman House Sales to $5,000,000

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• Number of houses sold – 346
• Total Value – $644,541,555
• Median Price – $1,652,500
• Average Price – $1,862,836
• Highest Price – $4,855,000
• Auction Clearance Rate – 54 per cent
• House Sales to $999,999 – 70
• House Sales above $1,000,000 – 127
• House Sales above $2,000,000 – 96
• House Sales above $3,000,000 – 36
• House Sales above $4,000,000 – 17

RWM Research observations: Mosman has approximately 4,900 houses so 7.00 per cent of houses sold. House sales up to $999,999 were 197 which is approximately 57 per cent of total sales. This figure was down from 71 per cent the previous year which is evidenced by increases in the median and average prices. Auction clearance rates remained at 54 per cent.

2003 – Mosman House Sales to $5,000,000

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• Number of houses sold – 334
• Total Value – $671,627,182
• Median Price – $1,699,500
• Average Price – $2,010,859
• Highest Price – $11,000,000
• Auction Clearance Rate – 40 per cent
• House Sales to $999,999 – 47
• House Sales above $1,000,000 – 139
• House Sales above $2,000,000 – 89
• House Sales above $3,000,000 – 44
• House Sales above $4,000,000 – 15

RWM Research observations: Mosman has approximately 4,900 houses so 6.8 per cent of houses sold. House sales up to $999,999 were 186 which is approximately 55 per cent of total sales. For the first time ever the average price broke $2,000,000. Auction clearance rates dropped from 54 per cent to 40 per cent.

2004 – Mosman House Sales to $5,000,000

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• Number of houses sold – 282
• Total Value – $522,988,257
• Median Price – $1,632,500
• Average Price – $1,854,568
• Highest Price – $11,000,000
• Auction Clearance Rate – 26 per cent
• House Sales to $999,999 – 42
• House Sales above $1,000,000 – 127
• House Sales above $2,000,000 – 68
• House Sales above $3,000,000 – 39
• House Sales above $4,000,000 – 6

RWM Research observations: Mosman has approximately 4,900 houses so 5.7 per cent of houses sold. House sales up to $999,999 were 169 which is approximately 60 per cent of total sales. The average price dropped below $2,000,000 and auction clearance rates dropped from 40 per cent to 26 per cent.

2005 – Mosman House Sales to $5,000,000

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• Number of houses sold – 278
• Total Value – $560,951,000
• Median Price – $1,842,500
• Average Price – $2,017,809
• Highest Price – $14,800,000
• Auction Clearance Rate – 36 per cent
• House Sales to $999,999 – 38
• House Sales above $1,000,000 – 115
• House Sales above $2,000,000 – 60
• House Sales above $3,000,000 – 52
• House Sales above $4,000,000 – 13

RWM Research observations: Mosman has approximately 4,900 houses so 5.6 per cent of houses sold. House sales to $999,999 were 153 which is approximately 60 per cent of sales. The average price was back up again over $2,000,000. Auction clearance rates increased from 26 per cent to 36 per cent.

In next week’s edition we will complete the house sales up to $5,000,000 and reveal the market movements from 2006 to 2010. Watch for the impact the GFC had on our markets. In 1999, sales up to $999,999 made up 88.5 per cent of total sales.  In 2005, they only made up 60 per cent of total sales and by 2010 had dropped to 28 per cent.

I will leave Forts Fumble and Crumble alone this week as the above cartoon says it all – Fort Crumble has had 16 years in the palace. It is not looking pretty for Premier Bambi – even the Nationals will outpoll Labor in the March election. Current polls have the Coalition holding 73 of the 93 seats, Nationals with 19 seats and Labor holding (at best) 14 seats. In all probability it will get worse between now and Execution Day. Oops! I mean Election Day.

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

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18.02.11Robert Simeon2 Comments »

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We keep hearing when the “going gets tough the tough get going” so you could be excused from thinking anytime soon that our luck has changed (for the better). A stark reality of the global financial crisis (GFC) has been the over reliant business concept where the hope factor remained the dominant strategy moving forward – trying hard and out of luck. No better example than that of our politicians where today, their decision making process is directed by polls as against policies.

The GFC was actually a great measure for businesses and governments although they responded in totally opposite directions. Businesses paid down debt and governments amassed debt which should not come as a great surprise as one is personal debt over other people’s debt. As a result of the GFC two words spring to mind: communication and infrastructure which is what I believe will be the key business strategies moving forward and succeeding in 2011 and beyond.

In that perfect world put simply: if we have every intended purchaser and vendor on our database (communication and infrastructure) we would be one of the most successful businesses on the entire planet – today we (most) strive in business to deliver the perfect consumer model. Just another part of life’s ongoing business challenges – so many businesses ignore and fight online which is now our future. No point fighting it – work it, use it and more importantly dominate it as it reciprocates one hundred fold (plus).

BUY PRINT

Our thanks to Tim Mooney for again spoiling us in 2010 with his amazing aerial captures which are simply breathtaking and most often mind boggling. Many subscribers contacted Tim throughout the year requesting aerial shots of their respective homes – they make for sensational Christmas cards.

Another fascinating year in Australian politics – a federal election, hung parliament, cross deals, resignations, scandals and the sacking of the Prime Minister. We pretty well had it all and more. Next March NSW is off to the polls as Fort Crumble limps to its final days make that 19: NSW Labor resignations which is unprecedented in Australian political history. A Christmas wish as Premier ‘Bambi ‘Keneally begs for a second chance despite revelations this week that $350 million wasted on Metro, audit reveals then insisting that when she dumped the Metro  the money had not been wasted. Oh dear!

Congratulations to our very own Steve Patrick and Jacqui Rowland – Smith who posted Mosman’s top sale for 2010 with the sale of Morella Road also the twelfth highest sale in Sydney for 2010. Steve also posted Mosman’s second highest sale when he sold a home in Stanley Avenue Balmoral last month – Mosman recorded four sales in Sydney’s Top 20 sales for 2010. Of interest is that sixteen (16) houses that Richardson & Wrench Mosman & Neutral Bay (RWM) sold in 2010 set new street records – an amazing feat in a difficult market. RWM have posted Mosman’s highest recorded house sales in 2008, 2009 and 2010.

This week we set an Australian record when we posted $1 billion in subscriber sales to our online business which now sits at $1,001,770,228. Our first subscriber sale was recorded in October 2000 when we sold an apartment for $270,000 – our real estate online model is considered an Australia leader within our industry. Nobody really knew what we were trying to achieve when we rolled it out ten years ago – today it is recognised as a leading example for our industry.

MOSMAN HOUSE SALES – 2008, 2009 & 2010 A COMPARITIVE ANALYSES

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• 2008 – Total Value Sold $774,865,612
• 2009 – Total Value Sold $668,966,377
• 2010 – Total Value Sold $692,658,555*

*Still being compiled

• 2008 – Total Number Sold – 360
• 2009 – Total Number Sold – 334
• 2010 – Total Number Sold – 320*

*Still being compiled

• 2008 – Median Price $2,275,000
• 2009 – Median Price $2,000,000
• 2010 – Median Price $2,100,000*

*Still being compiled

• 2008 – Average Price $2,738,041
• 2009 – Average Price $2,397,728
• 2010 – Average Price $2,500,572*

*Still being complied

Source: Australian Property Monitors

What to watch closely in 2011?



Many thanks to the team at Macquarie Research for sharing their graphs with us in 2010

This is your final edition of Virtual Realty News for 2010 and we would like to thank you for your support in 2010. Next year will be our eleventh year of publishing Virtual Realty News and we have plenty in store for you in 2011. With each edition in 2011 we will also be launching a weekly video where we tackle what is happening with our property markets – sure to be controversial (if I get my way.) I will be endeavouring to interview as many interesting people as we can. This will be brought to you by Visual Domain our video partner with Virtual Realty Videos.

Thanks to Ryan and Peter at Agentpoint our online web developers whom I drive absolutely mad with my online impulsive disorders where we constantly dare to be different. You guys are without a doubt the best in the business and an absolute pleasure to work with.

Whilst on videos here is our Christmas video for all of our subscribers (I suggested in last week’s edition that one of our staff was at a recording studio) – it is 100 per cent his voice. So turn your volume – up and click on full screen. Our Christmas video has already been nominated for best real estate Christmas video for 2010.
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As you can see we work with a fantastic team (I think that shows) you would have observed that our family is growing. On behalf of Steve, Rich and everyone else at RWM we want to say to each and every one of you – thank you very much!

Have a very Merry Christmas and a Happy New Year – see you again in 2011 for much, much more.



Cheers (and stop calling me Baz Lurman) ^__^

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

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10.12.10Robert Simeon15 Comments »

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Actually not that different with the three P’s that pertain to property – position, position and position. Throw in politicians and bankers and what we have is the 2010 equivalent of economic soup that is murky and far from palatable. During the global financial crisis (GFC) Westpac and the Commonwealth banks wrote approximately eighty (80) per cent of all mortgages which explains why today, collectively, they own the largest mortgage books. Alan Kohler wrote on The Drum that banks only have themselves to blame which has caused a stir given many consumers are losing faith in our pillars of society. Of course, there has been plenty of gratuitous PR advice for our friends in banking although the politics of banking was intelligently addressed when Janet Albrechtsen wrote in The Australian – Let’s hear the positive story from the banks.

Plenty of rhetoric this week as home owners angered by increases in interest rates then news broke that the Big Four banks to dump exit fees as backlash grows against lenders. Then late this week ANZ raises rates, scraps exit fees at or about the same time as ASIC bans banks from double – dip mortgage exit fees which means banks that charge customers to establish a mortgage, will no longer be able to apply contentious exit fees. Too early to say who will get the last laugh with this announcement – possibly bank establishment fees will rise? Certainly the four new P’s won’t change.

BUY PRINT

Is the landscape at Circular Quay about to change? Special deal on city skyscraper as a giant residential tower, double the size of any other building in Circular Quay, is expected to be approved soon. The site Gold Fields House is set to become a luxury apartment block that will tower 191 m above Circular Quay making it Sydney’s eighth tallest building. Sydney has only one of the top 10 tallest buildings in Australia – which prompts the discussion for progress of our capital city.

Australian Property Monitors released its House Price Report for September 2010 and here are the key findings:

• National median house prices remain effectively unchanged at +0.1 per cent for the quarter with annual house price growth slowing to +11.5%
• Most capital cities experienced falls in prices over the quarter; however the major markets of Melbourne and Sydney bucked the trend recording positive quarterly house price growth
• National price units (excluding Tasmania) have fallen slightly, down -0.4% for the quarter, with annual growth falling sharply to +6.5%
• Unit prices have fallen in all cities except Melbourne, with Brisbane experiencing the largest price decline, falling -2.8% for the quarter

Source: Australian Property Monitors

SYDNEY

• House prices increased slightly by +0.7% in the September quarter, which is the third consecutive quarter of slowing growth.
• Unit prices have started falling for the first time since 2008, recording -0.1% for the quarter.
• Sydney’s median house price is now $634,346 and the median unit price has fallen slightly to $436,714.
• Annual house price growth sits at +11.3% and unit price growth is at +7.3%, both trending downwards.

Weak demand made for rate surprise all things considered the clearance rates are positive, although the most important conclusion would be that prices are flat lining. It is only natural that auction clearance rates fall on rate rise and we are seeing anecdotal sales evidence. One interesting observation in Mosman at present, is that private treaty sales are producing the highest volume.

Here is the comparative analysis for Mosman houses:

Mosman Houses 2009 – 1 January 2009 to 31 December 2009

• Total sold – 322
• Private Treaty – 281
• Public Auction – 41
• Total Value Sold – $815,649,751
• Median price – $2,094,000
• Average price – $2,564,936
• Highest price – $13,200,000 (RWM)

Mosman Houses 2010 – 1 January 2010 to 10 November 2010

• Total sold – 292
• Private Treaty – 219
• Public Auction – 73
• Total Value Sold – $639,048,555
• Median price – $2,100,000
• Average price – $2,468,570
• Highest price – $12,600,000 (RWM)

It should be noted that with the 2010 house sales, that the vast majority of sale prices are yet to be recorded, so we expect this year’s total value for houses sold, to be considerably higher $750,000,000 approximately. For example, this week, RWM recorded the second highest house sale for Mosman in 2010 which is yet to be recorded. Here is the Macquarie Research Economics Forecast where it should be noted that the banks have already moved the cash rate to the Reserve Bank of Australia (RBA) Macquarie Research Forecast for Quarter 1 – 2011. So what we now have is an official cash rate and a real cash rate, which I will call the “real, official cash rate” – ROCR!

So to the four new P’s – polls, populism, performance and of course profits which continue to stymie our Forts Fumble and Crumble. The politician who should have been Premier of NSW, Blacktown MP Paul Gibson ‘Fed up’ NSW Labor MP quits so now thirteen (13) Labor MP’s have announced their retirement in the past two months. Paul Gibson “we’ve moved from platform and policy and pursued a poll driven agenda.” Fort Crumble is shambolic and an embarrassment where Transport Minister John Robertson has already called his transport removalists to grab the now vacated seat. Thirteen, with more to come as powerbroker Joe Tripodi quits. Premier Kristina “Bambi” Keneally has (unofficially now) been placed on the endangered species list due to a lack of interest – polls, populism, performance and no profit.

A perfect dismount from the strangest election ever – You can say that again! The four new P’s continue to dominate as Julia Gillard losing ground to Tony Abbott, News poll shows given the continuance of Labor’s policy woes pile up. No doubt we will be hearing and reading plenty more about this in the months to come. Fort Crumble continues to disintegrate – polls and populism shape public perceptions. Fort Fumble relies on the hope factor – Swan’s numbers looking rubbery when more ‘courage’ needed in spending cuts, says Access Economics. Polls, populism, performance and of course profits continue to threaten the capability of Fort Fumble.

Back in 2000, Virtual Realty News subscriber sales sat at zero when we launched our online platform. Today, they sit at $998,770,220 so we are now $1,229,780 from breaking the $1,000,000,000 mark.

Unfortunately, this week’s $10.000 million plus Balmoral sale did not qualify – another big week of local sales which suggests a strong run of property transactions through to Christmas.

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

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12.11.10Robert Simeon5 Comments »

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Excellent one on one interview where Steve Patrick interviews Glen Spratt from Mortgageport about the state of the market regarding the local home loan market. The interview discusses -

• What state is the mortgage market currently?
• What trends are noticeable?
• Tell us briefly about Mortgageport
• What type of customers does Mortgageport focus on helping?

This video was produced by visualdomain

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15.09.10Robert Simeon3 Comments »

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The 2010 federal election is all about the polls (cometh the spin) then three years on, we have more broken promises than promises that actually came to fruition. Neither party has a single blueprint for the Australian economy, nor the nation as a whole and this was classically highlighted during the global financial crisis spend– a– thon which we are told constantly, saved the Australian economy from recession. Australia’s need to invest in infrastructure, is urgent – roads, rail and ports and this is why Fort Crumble faces election annihilation when NSW goes to the polls in March 2011.

Infrastructure in NSW ‘average to poor’ a scathing new report card from Engineers Australia where more than three quarters of the sectors require major or critical changes. This report highlights the point that industry can identify the problems, yet elected governments are incapable of preparing a work – in – progress strategy for Australia. Fix these problems because today our population is well ahead of infrastructure which was brilliantly explained in gotchanomics doesn’t bring home the real bacon.

Labor struggling in key states which led to rolling out the barrel – Labor denies pork – barrel suggestion. Andrew West from the Sydney Morning Herald wrote Back on track – and just the ticket for commuters “It is politically brave for a prime minister to appear publicly with a NSW premier these days. It is crazy brave to make a joint announcement about public transport. The NSW public is so cynical about public transport promises – after 15 years of projects being announced, postponed, shelved and re – announced – that voters no longer believe state Labor can deliver a crucial service.” The $2.100 billion rail link announcement for Parramatta and Epping will no doubt be shelved once Fort Crumble is removed permanently at the next state election – all aboard the PM’s Parramatta express. Who could forget reading How lazy Nathan Rees sold NSW short which explains why Gillard and Keneally fail on Sydney’s transport infrastructure funding. More than half the pledged monies promised in the current election will not be spent until after the next election in 2013 – pork rolled out on the never-never.

BUY PRINT

Surveys reveal that Australia is home to the world’s least – affordable property. Pundits are at odds over whether it might end in a bang or a whimper – a great read Forever blowing bubbles. The Real Estate Institute of Australia recently announced that a contributing factor to the increase in house prices and the decline in housing affordability, is the under-supply of housing. According to the National Housing Supply Council, the gap between the supply and demand for housing will increase in the next eight years and this will put further pressure on house prices.

Nothing new on offer since the houses that Kevin built – “It might be important to voters – but not the parties”, wrote Kevin Saulwick. “There may have been more pressing issues than housing affordability at the 2007 election, but not many. Which makes it all the more remarkable that three years later – and with the same level of community concern about the cost of living – there has been little focus on housing by Julia Gillard and Tony Abbott. When Kevin Rudd sailed into office, it was due to Labor’s success in putting itself on the side of the angels when it came to housing costs. Rudd’s message was simple: he sympathised with families bleeding ever – larger payments on mortgages and rent. And he came to office offering policies aimed at increasing the supply of affordable properties to help reduce the pressures.” The Emperor was de-throned by the Orange Roughie because he had lost his way, then poor polling saw a phoenix – like resurrection to lead Labor to better polling – hence the soap opera.

Housing affordability can come down only with much improved infrastructure policies – Capital city house prices up 18 per cent from last year – ABS even though home loans sink to nine – year low. When infrastructure is non–existent, this leads to construction slumps in July because there is no point building, where there is no demand (especially when NSW has no South West rail link, North West rail link, Parramatta to Epping rail, M4 East and M5 East duplication). If these facilities were in place as promised, NSW construction would be booming and housing affordability and rentals much more affordable. How can Australia “move forward” when infrastructure is moving backwards, compared to our population growth? Policy on the run again as NSW Labor in the dark over Gillard’s Parramatta – Epping rail link promise which has been revealed as the rail pledge a carrot in push for McKew win for the seat of Bennelong – Maxine who?

The last remaining economic data statistic before next Saturday’s election was released this week – shock jobless rise where the three states of major concern for federal Labor – NSW, Queensland and Western Australia all experienced unemployment increases.

Whilst home loans fall as interest rates bite the good news is that the Reserve Bank of Australia RBA statement suggests longer pause given RBA forecasts plenty of blue sky ahead. With the election ‘soap opera’ out of the way next Saturday, we can expect some normality back in our property markets. Electoral promises rarely come to fruition as The Emperor “Kevin 07” found, even though he has been brought back to life – with a faint pulse.

Richardson & Wrench Mosman & Neutral Bay (RWM) has been busy working on our infrastructure and this week, we released our RWM mobile website. Previously with your mobile phone you could view our website with your phone which was a navigation nightmare because it is impossible to view a macro site on a micro application and do justice to our properties. Agentpoint our developers this week launched our mobile micro site for mobile phones users.

Open a browser on your mobile phone and type in www.m.rwm.com.au. Our research and development team are currently testing new technologies, all to improve your RWM real estate experience..
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Online is our real estate industry point of difference, because we are the only agency that gets it – so now you get it. Our clients can now sit outside one of our properties and view it on their mobile phone (outside set inspection times) from our mobile RWM website.

Thanks to Steve and Richard for filling in whilst I was relaxing in our Thailand branch office which is better known (by me) as the Tipsy Prawn.

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

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13.08.10Robert Simeon5 Comments »

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With the benefit of hindsight, we ask, did the powers that be in Canberra get the stimulus spending right whilst addressing the global financial crisis? If not, what have they learned from it (if anything)? The answer would be absolutely nothing, given nothing has, or is, being done about housing. Construction activity falls in June which is a clue dropping 6.8 points in June to a 10 – month low. More construction equates to more homes which in turn, reduces house prices. The construction industry ‘is’ the third biggest employer in Australia (or  should that be ‘was’?)

The major problems attributed to Forts Fumble and Crumble is that economically, they confuse usage with wastage (otherwise known as “reckless and wasteful spending”). After all, Fort Fumble is still borrowing almost $100 million a day which is in direct competition with home borrowers and small business as Joe Hockey tells govt to cool spending.

The Reserve Bank of Australia (RBA) met this week and decided to keep rates on hold despite solid numbers. Of course the announcement was met with the usual rhetoric Wayne Swan welcomes interest rate decision citing “while we’ve fought off the recession and kept unemployment low, we know that a lot of people are still doing it tough and recent rate rises have stretched family budgets.” More Treasurer speak “we’re focussed on reforming and strengthening our economy with investments to harness mining boom mark 11 where the Liberals failed in mining boom mark 1.” Wayne is almost Shakespearean with his economic recitals and enactments although the RBA keeps saying Government must rein in demand growth: McKibbin.

Thought we would head south this week for a change of Sydney scenery

BUY PRINT

Let’s take a closer look at Fort Fumble’s mark 11 harnessing – mining tax changes had one purpose which was taking pressure off key marginal seats. Since the new deal was announced last Friday, it has been described as a compromise, a back flip and a monumental cave–in MRRT revenue loss to be double government estimate: Goldman.

The tax was reduced from 40 to 22.5 per cent a hard tax to swallow as Alan Kohler wrote on Business Spectator.”More than double the profit threshold above which it cuts in and reduce the number of companies being taxed from 2,500 to 320, and lose only one – eighth of the money. Julia Gillard is a prime minister who Gets Things Done – the Mary Poppins of tax policy.”

No regrets over mining tax – Treasury Secretary Ken Henry whilst Martin Ferguson concedes: ‘We got super – profits tax wrong’ I can’t wait to see what happens with mark 111 as government ‘dishonest’ on revised super profits tax revenue as government sacrificed $35 bn in tax deal with big miners.

Time to move above ground where caution is being thrown to the wind (again) – which I might add is not a bad thing. Of course it would have been much better had Fort Fumble got their stimulus issues right which unfortunately was not the case as I have long argued – roads, infrastructure, housing subdivisions, hospitals – a long term future model. Fort Crumble was at it again also with another painful snub of Sydney transport, M5 set to be delayed and doodling as Metro plan burns $500m. Then on Thursday we had 50,000 Sydney homes without power again broken infrastructure in NSW.

Not one Sydney transport project has been listed as a priority for the federal Government’s (Fort Fumble) latest infrastructure funding targets. “Blasting the NSW Government’s failure to properly plan billion – dollar road and transport projects, Infrastructure Australia has instead selected a $4.9 billion Melbourne metro train project, an Adelaide freight rail line and a Federal Highway road upgrade in the ACT as priorities.” Work this out – the Pacific Highway gets an upgrade and Sydney gets absolutely nothing – Sydney has been placed in the too hard basket along with our politicians. No strings attached with Sydney anymore.

Great news for property owners who sit within a 5 – 10 – 15 kilometre radius of our CBD as evidenced when Jonathan Chancellor published this week in the Sydney Morning Herald – Top 20 Sydney house sales just the one recorded sale outside the radius – clue!

Mosman posted five of the top 20 sales.  Our very own Stephen Patrick had the highest sale and Richard Simeon had another in Warringah Road. This saw  Richardson & Wrench Mosman & Neutral Bay (RWM) record two of the five, which this week, took our Internet subscriber sales to $956,784,220.

So how is our Spring/Summer property market looking? Year ahead good, not great where Australia’s market economists declare there will be no double– dip recession here. Buyers expected to favour private sales over auctions as growth slows. We predict the Mosman market to shift (initially) in the upcoming market to online advertising – stage one as property markets stabilise. Why? It’s all about our real estate ring of confidence.

As Macquarie Economics Research explained:

• With more volatility in global financial markets, an increasing number of analysts are betting that this will force the RBA to leave rates unchanged over the next year. Certainly, if the credit markets dry up the RBA will not hesitate to cut interest rates. But with the Government’s deal with major mining companies over taxation, removing one of the clouds over investment, the RBA might actually have become more confident in the growth outlook.

Don’t forget rise in inflation to irk RBA where the annual reading of 3.6 per cent rate of inflation rose for the eighth straight month. This is well outside the RBA’s target of between 2 and 3 per cent. Rents will continue to drive inflation up given a six year wait to save deposit for first home in Sydney which is quite ironic given Infrastructure Australia is not investing in Sydney. IMF sees strong growth in Australia, but risks grow although I would add that government economic policy is an even greater risk on our shores.

Sydney needs a plan and it is obvious that  Forts Fumble and Crumble have absolutely no idea on how to address such complex issues. Sydney commuters can expect to see new signs on all transport systems – Turn around You Are Going the Wrong Way – no infrastructure ahead. When Fort Crumble has difficulty filling out Infrastructure Australia forms it’s no wonder NSW is a basket case. More back flips from Fort Fumble where Gillard eats her words over refugees as her options dwindle to six countries for east Timor alternative.

The Emperor may have gone however the art of the back flip remains the preferred exercise for a government that just two weeks ago, had lost its way. So what would one call the MRRT and East Timor? Must be a phase they are going through although we need more than promises to judge Julia. Maybe she has short term memory loss?

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

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9.07.10Robert Simeon5 Comments »

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I would say yes, given the global financial crisis (GFC) in the Australian vernacular was an “easy come – easy go” experience where we experienced just the one quarter of negative growth. If you remain somewhat confused as to where the property markets are headed, don’t be.  It appears that everyone else is too. International Monetary Fund sounds warning on property bubble in Asia – Pacific and it was reported that Australia is not immune from a potential property bubble. The report said “in Australia, a combination of rapid interest rate cuts and the extension of the first – home buyers grant ensured that property remained robust during the worst of the financial crisis. Most recently, there has been a 13 per cent jump in median home prices to the end of February.” Then “the IMF report comes amid evidence the resilience in house prices has caught the eye of the Reserve Bank (RBA) Minutes of the Reserve board’s April meeting, when it announced the fifth rate rise since October, showed members noticed the property market’s continued buoyancy despite new home loans falling”. Evident with Sydney auction clearance rates graph courtesy of Australian Property Monitors.

RBA eyes May rate rise which I believe is odds – on, having read the minutes of its April 6 board meeting where they will move the official cash rate from 4.25 per cent to 4.50 per cent. Home truths on the whys and wherefores of the property market which identifies the property conundrum: housing is the biggest market in Australia – yet there is no central database that records transactions and prices. “Housing markets in the United States and Britain lost 40 per cent of value from their 2007 peaks and are only tentatively recovering, that Australian market appears only to have dipped slightly in 2008 (the pain was contained to the top end) before shooting up in the past 12 months.” Now the biggest clue “banks have changed their attitude. Where they used to push 100 per cent loan – to – valuation ratios (LVRs) now they lend 80 per cent over the value of the asset before demanding a swag of fees (usually labelled lenders’ mortgage insurance).”

BUY PRINT
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I love challenging Tim, who called me this week and asked “what shot do we need?” I responded, “The Emperor (Kevin Rudd) got his Health Reform approved so we need a smiley face. Can you shoot Luna Park, Ripples restaurant, North Sydney swimming pool, and a ferry at Luna Park wharf?” The man is pure genius! Tim again, exceeded our expectations – his shots make for great Christmas cards too.

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Macquarie’s Robertson sees easing in house price gains where with his latest note to clients Mr Robertson said “anyone with their eyes open is aware that usually low funding costs over the past 12 – 18 months powered a good part of the double digit house – price gains that have excited so much comment and talk of “bubbles”. Economists baffled by robust property market given after five interest rate increases in seven months they wonder how auction clearance rates remained so high for so long, along with rising median house prices. “It’s a bit of a puzzle,” said Macquarie Bank’s senior economist, Brian Redican, who once worked at the Reserve Bank. “You wonder how auction clearance rates remain very high along with house prices themselves.” Which takes me to the real estate ring of confidence – remember Aussies would bet on two flies climbing a wall.

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Prestige home market lies becalmed, Median prices up in Sydney – but not as much as in Melbourne and Penthouse sales hit bargain basement had Sydney Morning Herald property editor Jonathan Chancellor a very busy journalist this week. “Sydney’s $5 million plus prestige residential market has stalled. The number of sales this year sits at slightly above the low levels recorded during the trough of the global financial crisis. There have been 45 sales higher than $5 million during the first quarter of the year, a small rise on the 44 sales in the March quarter last year. Volumes are well down on the 74 sales in the 2007 March quarter, and 63 in the 2008 March quarter.” Richardson & Wrench Mosman & Neutral Bay (RWM) recorded 5 of the recorded 63 sales. Subscriber sales jumped to $942,854,220 this week.

Australians’ insatiable appetite will continue although it must be noted that home loans, power and now gas – the family budget squeeze is on given NSW families will have to find an extra $3,000 in their annual budgets by the middle of next year as the soaring cost of living consumes an additional three weeks of the average worker’s wage. Even though land prices are growing at their fastest rate since 2004. No data: foreign buyer property puzzle which by coincidence identifies a twelve month anniversary since The Emperor abolished the acquisition by foreigners of Australian real estate. At 6:38 pm on April 21 I received this notice REA as well as a increased number of emails from Russian buyers agents looking to acquire residential properties.

Foreign men of property move in which demands an answer as to exactly why The Emperor approved this policy change – without consultation. Given home – ownership dream dims for Gen – Y where NSW ‘s dire housing shortage has been exposed by figures revealing that the State needs an extra 120 homes every week to keep up with population growth. To make matters worse, the average rental  of a Sydney house  is approximately $110 more a week than it was five years ago. So Fort Fumble wastes billions on pink batts and the building education revolution – and now it is taking on health? Back to Luna Park and that “Big Dipper” which resonates with Kevin 07. Although not alone – NSW still nation’s basket case, say analysts – the NSW economy continues to be the worst  in the nation and  analysts say, the government must urgently introduce initiatives to stimulate growth in housing construction, business investment and jobs.

As quick as a flash, The Emperor hightailed it to Tasmania rifts open in Kevin Rudd’s health plan given the rethink on insulation scheme over safety fears which then transformed into a junior minister Greg Combet announcing troubled insulation grants get the chop resulting in another taxpayer initiative $2.450 billion down the gurgler. Interesting that The Emperor was all over the stage announcing this – then hides when it is cancelled.

Bob Hawke and John Howard debate our future where the combined consensus was to remove states/territories from all forms of government.

Congratulations to Jacqui and Mike Rowland – Smith who this week delivered a brother for young Will – mother and baby are both healthy and happy.

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

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23.04.10Robert Simeon1 Comment »

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The only problem with writing a weekly blog in the present environment is finding a place to start, because of the constant bungling at both Fort Crumble (NSW Government) and Fort Fumble (Federal Government).

Let’s start with our consistently high performing Fort Crumble where dumping the Metro cost $500 million according to Premier Pristine (Kristina Keneally) “The CBD Metro was a nearly $5 billion project we wanted to be sure as a government it represented value for money.” So we have a $200 million compensation plan from builder Lend Lease and another $300 million had already been spent on the doomed rail wreck. Fort Crumble’s greatest tax payer debacle?

Premier Pristine had her defining plumage ruffled further when she was advised Rudd wants $80 million back as metro bill grows so the train wreck bill has apparently now climbed to $5.3 billion. The Infrastructure Australia money was among dozens of grants shelled out to projects across Australia. The submission by NSW was considered the worst of any of the states. Consequently, only money for scoping studies was handed out. A $5.3 billion tax payer Yes Minister – no brainer!

The Emperor (Kevin Rudd) then took time out from his Doctorate of Medicine studies and if his radical diagnosis proceeds, based on his elective political surgery for our ailing health systems, our States and Territories will need a second opinion. Reductions in Government Spending Tax (GST) appear to be thwarting The Emperor’s prognosis and the diagnosis is a referendum for Dr. Krudd. A bummer for The Emperor as his economic mind sadly lacks the “Midas Touch”.

Buy Print

What a brilliant capture this is. It appears that everything in Australia is climbing. We asked Tim Mooney to make sure that everything was colour coordinated so he had to wait for an aqua car. Each and every business faces a climb back from the GFC and how appropriate is this picture. We have had a number of subscribers contacting us to purchase photos (see our Buy Print above).

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Big Bazza O’Barrell launched his election slogan for next year’s NSW election One year out, O’Farrell picks election slogan “Make NSW Number 1 Again”. Fixing NSW’s economy is the management challenge of our time, wrote Jeff Kennett NSW should look south of the border for the way forward. Jeff Kennett said “I have been asked what I think is necessary and essential for NSW to start rebuilding. It is simple enough, in theory.”

“A new government must be elected, if for no other reason than to end – once and for all – the poisonous culture of self interest that exists among the majority who make up the current government.”

“The alternative government will, over the next 12 months complete (I assume they have well and truly started)– the work needed to immediately commence the reform programme, once in office.”

“This will require a once – in – a generation programme, similar to what we put in place over two terms in office in Victoria.”

A scathing review – “The cost of this entrenched period of failure to NSW and Australia has been monumental. Not only has NSW failed to keep abreast with the advances in thinking and technology, but all basic services that should be provided by government have deteriorated compared with those in other states.”

Charlie Aitken wrote in his Under the Southern Cross – “The political waters are clouded by secret agendas and the political landscape is generally a minefield of broken promises and policy failures. In addition, with a few exceptions, it often appears that the main aim of a politician is to gain re-election rather than pursue genuine political reform.”

The report identifies “Bad Policies” – so look at the failed Emissions Trading System, Pink Batts $2.400 billion debacle (which now requires another $200 million for stuff – up corrections) Fuel Watch and Grocery Watch, just to name a few. Throw in the now growing school halls bungled programme – which will gain greater momentum over time as Ray Hadley at 2GB keeps probing. Julia Gillard says schools building programme saved nation from recession and NSW scraps Hastings Public School project in back flip after critical audit of proposed COLA where a covered outdoor learning area would cost $954,000. A similar structure cost $78,000 back in 2003. Little wonder everything is blocked in the Senate. Government incompetence does resonate throughout the business community – which impacts economic sentiment, growth and confidence.

Bright economic outlook for Australia – Reserve Bank Assistant Governor Philip Lowe at the Reserve Bank of Australia (RBA) said underlying inflation had “moderated significantly” and was expected to decline from 3.25 per cent to 2.5 per cent during 2010. This means that interest rates will move back to normal levels so the 49 – year low of three per cent won’t (in our lifetime) be seen again. Get set for a bank gouging bonanza given Westpac chief warns of need to raise rates although GFC not over, says ANZ chief. Get set for a roller coaster ride in 2010.

Australia’s property bubble: it’s here” it’s official: 60 per cent of investors believe Australia has a property bubble. A confluence of housing shortages, low interest rates, speculative fervour and last year’s move by the Rudd Government to relax the rule of foreign ownership on real estate, has turbo – charged house prices.” I assume they are comparing the property markets to quarter 4 – 2008 although it should be noted that during the global financial crisis (GFC) it was speculated that half of Mosman houses were for sale (2,450) homes and it peaked at 195 homes. I did like this piece in the article “But as John Maynard Keynes famously said: “A market can stay irrational longer than you can stay solvent.” So true – the Mosman market is presently skittish and we are seeing a dramatic increase of foreign buyers moving into our markets.

I have absolutely no idea why The Emperor decided to make the Australian property markets international over local? “The increase in foreign purchasers cannot be underestimated. This abolished mandatory reporting of such acquisitions in a bid to “enhance flexibility in the market”. Absolute rubbish and bulls&%#!

Richardson & Wrench Mosman & Neutral Bay (RWM) are proud to offer “Glen Osmond” to the market place – C 1901 an iconic Mosman home set on a grand estate – “Glen Osmond“.

Is the lifting of foreign ownership a sound decision? We look forward to reading your thoughts on our blog. I tag the politicians so Media Monitors pass on to them, all the comments on our blog.

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Our Australian population hit 22,000,000 this week according to the Australian Bureau of Statistics (ABS) – so what does that do to this supposed bubble?

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

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26.03.10Robert Simeon20 Comments »