We welcome you to our new look E-Zine (electronic magazine) and website which forever will identify our online points of difference. This latest online release is a defining moment within our industry and one that we obviously treat very seriously. Our electronic platform is an industry first where the customer also comes first. Please enjoy

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

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

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7.11.08Robert Simeon5 Comments »

Go to your room! Our political parents have spoken and you are no longer permitted to talk to the now unsecured banks that hold and administer your pocket money. Your financial lifeline has now been frozen until further notice due to a financial meltdown. So spare a moment to consider what they will do with Climate Control! One school of thought is that Kevin Rudd and Wayne Swan have collectively created their very own version of the financial Ice Age. Ah, our very own financial conservatives where Treasury is the new Fort Fumble, not to be confused with Fort Tumble.

Freeze Frame. In the Senate standing committee that met this week for a “Please explain?”, Barnaby Joyce attacked Fort Fumble with his six guns, not to be confused with six pack. Straight from the hip he fired a question at Treasury guru Ken Henry which then ricocheted to David Gruen (obviously the smoking gun). “Had Treasury done any modelling on the Government’s $10.4 billion rescue spending (spree) package?” Continue reading »

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31.10.08Robert SimeonNo Comments »

Politicians of all persuasions believe today, that anyone who deems to criticise them, is out of touch. This week we experienced many touch ups and a few more touch downs (figuratively speaking). This leads me to suggest that we are now in a touching market where property prices are either out of touch and others a touch up. Continue reading »

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24.10.08Robert SimeonNo Comments »

What a tumultuous week! World financial markets experienced an absolute hiding and at the end of the day as the debris is removed, the message that resonates most strongly is that, “cash is still King”. Superannuation is not exactly as bankable as most were led to believe despite that in the June quarter of 2007, superannuation funds received record net inflows of $A49 billion. It should also be noted that during this same period, household debt had a record increase too, as investors borrowed against the home to participate in this “once in a lifetime opportunity”. Fifteen months later, their investment has halved (it will strengthen – but it could take a while). When compulsory superannuation took effect in 1992 many argued that older superannuants were at a disadvantage hence the “super – duper” tax free inducement last year by the Howard government. Continue reading »

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3.10.08Robert SimeonNo Comments »

It is true that currently, we have fewer properties available for sale at the top end of the market. Does this scarcity of available properties mean that consumers have lost their insatiable appetite and prices are on a significant decline? Definitely not! However it is true, that in many markets, merchant bankers have had their pocket money reduced and this has led to the market price consolidation in our economy today. Continue reading »

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12.09.08Robert SimeonNo Comments »

As each week goes by it becomes more and more obvious that our economy is slowing (weakening for that matter) and the obvious remedy will be interest rate reductions (and not before time). Just that when the Reserve Bank of Australia (RBA) addresses monetary policy next Tuesday, the banks are not certain to follow suit. With the National Australia Bank and ANZ already rubber stamping a rate reduction based on speculation of a 0.25 per cent reduction it appears (for the moment) that the CBA and Westpac will do the same. Continue reading »

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28.08.08Robert SimeonNo Comments »

Not since the early nineties has the Mosman residential market been under such close scrutiny. Divided perceptions simply add to the intrigue and the coming months will reveal all. Quite simple really – property prices will either

A – Fall
B – Rise
C – Remain Constant
D – All of the above

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15.08.08Robert SimeonNo Comments »

One has to simply hand it to our politicians ! If they don’t know the correct answer they just make one up. With the major banks raising interest rates, Federal Treasure “Wayne’s World” Swan responded with the suggestion, that if customers were unhappy they should simply change lenders. Unfortunately for “Wayne’s World” it is not that simple as the banks are actually well justified to keep raising their rates as I found out when I looked a little deeper, he however obviously has little idea as to the reasons why? Continue reading »

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18.07.08Robert SimeonNo Comments »

How can we make sense of the Federal government’s latest immigration plan to bring almost 300,000 into the country in the next twelve months ? (You don’t have to answer that one). For some inexplicable reason this frightening statistic failed to crack a mention in recent media reports. We now have the lowest ever vacancy rates creating a chronic housing shortage. This is now the twentieth month in a row that the vacancy rate has remained at below 2% – the benchmark figure. To put this into greater perspective, in August 2007 the figure was 1.5% in Sydney. Nine months later, the news is getting worse with household rents now at record highs and climbing even higher. Continue reading »

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23.05.08Robert SimeonNo Comments »

Before we jump to conclusions – RIP. Reactive, Inactive? Preferably being Proactive?

The three most powerful words in the universal business community today were sadly missed in Budget 2008. The strongest financial industry leaders today are very much proactive. Those following suit adopt the secondary position of reactive. As for third place, (and no dividend paid) that would be the inactive. These are those once dominant participants who’s successes today remain as a somewhat distant memories, based on their respective expired business models. Continue reading »

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16.05.08Robert SimeonNo Comments »

With so much focus on declining property markets today, many market spectators keep accusing real estate agents of talking the market up. Alan Greenspan famously referred to red – hot property markets as “irrational exuberance” and human behaviour is exactly what determines property prices. Some Sydney markets are well noted as being in decline and vendors are paying the price. It takes money to purchase a property and the cost of money is going up internationally. When property market sentiment changes so does property value perceptions. This can be further convoluted by real estate agents who over value a property in order to list the home. This then results in the property not selling, which in turn delivers yet another market perception for all the wrong reasons … it is very hard to sell an avocado for $8.00 each before it goes off. Continue reading »

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9.05.08Robert SimeonNo Comments »