Thankfully no sex, but plenty of lies and too many video tapes!

Thankfully no sex, but plenty of lies and too many video tapes!

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

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

megaswell

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

BUY PRINT

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

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

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

17-08-2010 12-10-43 PM

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

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

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

20-08-2010 10-09-46 AM

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

20-08-2010 10-14-08 AM

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

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

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

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

Cheers ^__^

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

8 Responses to “Thankfully no sex, but plenty of lies and too many video tapes!”

  • Ann says:

    Labor just posted its costings on their national website.

    $490 million worse position than they said.

    Swan is a few hours earlier in releasing his costings than he did before the last election

  • Ann says:

    Type Correction $400 million worse off.

  • Oh dear – Wayne Swan has gone silent!

  • Wireless = Clueless = Gillard govt.

  • Robbie Mac says:

    Bookies still have Labour as clear favourites at $1.48, with 94% of Sportingbet’s bets weighted to Labour – not an encouraging sign if you’re Tony Abbott. The bookies are usually right, more so than the pollsters. As to why, that’s a story for after the election! Perhaps this time they will be wrong, and if they are, I suspect it will be as a result not of the overall two party preferred vote, but how those votes are dispersed through the key marginals. And I think we’re in for a few surprises.

    All of which means the Greens (lead by Brown, but really Red – nice colour combination if you’re a vegie gardener, but like a bad night out if it’s a flag or politics) might just get to make decisions for us. Is this any better or worse than Harradine, Xenophon or Fielding? Dunno – like the main election itself, it might be a case of “least worst”, an attractive proposition when thinking about our great country’s future!!! Could be even more complex than that – minorities in both houses, with Katter, Oakeshott and buddies sitting on the middle benches in the lower house, giving their nods to the respective sides on a policy per policy basis. This might be the only real alternative to the beige (yet another colour!) we’ve seen so far.

    Economic impact? Impact on property? No-one knows, as the wide spread of debate on Sydney and Australian property prices shows. The divergence of opinion is dramatic, and probably a little unhealthy in that it could scare some buyers away, especially those offshore. Both major parties seem hell bent on bringing the Budget into surplus, which is an example of dumbed down politics at its very best (or worst!). The relevance of the budget has been over-emphasised dramatically, and only served to highlight the economic illiteracy of both our politicians, and the electorate for accepting such a position. Woe betide anyone to suggest suitable Keynesian responses to the markets from year to year. Perhaps if we were all a bit smarter collectively we might yet have Malcolm Turnbull as PM. Perhaps not….

    Look forward to the post mortem next week, although we might not even know the winner by then. In the meantime, business goes on, hopefully with enough momentum to get through the vacuum created by the distraction of the election.

  • Excellent analysis Robbie and I agree about your budget surplus comments as Howard and Costello were obsessed with paying back the $96 billion when they came to office with infrastructure, health and education all suffering as a result of these budget cutbacks.

    I would prefer to see a compromises of budget deficit reduction combined with significant infrastructure spending.

  • Ann says:

    Election outcome is outstanding result for Australia.

    We will now have some thorough analysis of all policies, some fairness to rural and regional Australia, some accountability in Question Time and a whole lots of other advantages.

  • Snow White says:

    Interesting leaks at The Greens.

    http://www.vexnews.com/news/10566/

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