The coast is clear – for a clean start!

The coast is clear – for a clean start!

The ‘Governor of Moolah’ sent a green light to the property markets this week when interest rates remained unchanged for the fourteenth consecutive month. For those who made yet another wrong prediction, you have just ten more attempts left in 2005. Although many now believe that the Reserve will pre-empt any future increases. Whatever the argument, this is a very positive start for the property markets that leaves the property players healthier, wealthier and wiser to the state of play of the many thousands of niche markets across Australia. Maybe our ‘Governor of Moolah’ is waiting to have a squiz at his recently commissioned Roy Morgan household ‘home truths’ report which is intended to identify just how many of the designated 10,000 households are in a spot of bother. This further identifies that when it comes to the noble sport of trying to understand property data, the system still remains very much on the side of hopeless. It is however, refreshing to see the head teller,thinking outside the equity equation of endless emptiness. It will no doubt take many months to compile this report so therein lies a possible clue for those who make more tips on rates than Melbourne Cup race day.

North of the bridge this week, there were plenty of happy chappies at Fairfax with the inaugural launch of Domain North, exceeding all expectations by nearly doubling the anticipated number of pages in their first edition. The Fairfax foot soldiers have been pounding the pavements promoting their new brand, and it was a job well done as evidenced by the hive of activity at the well attended launch at Taronga Zoo. Any one suggesting that it could end up as an endangered species given the location of the launch would do well to think again as the Domain brand is looking very, very impressive. By incorporating Domain East and Domain North, Saturday’s Domain has been transformed from a black and white classified supplement to a kaleidoscope of colour. Many industry analysts are predicting some stellar battles here as agents continue their battle for market dominance in Saturday’s new colour photo album.

The positive start to the 2005 property market has been reinforced by the strong number of prospective purchasers making enquiries, and the agencies with good stock levels look almost certain to enjoy a positive first quarter. Nothing like an invigorating property market as it gathers momentum following the traditional Christmas and New Year break. For those looking for bargains, you may have to wait another nine months because we have seen a positive start. Bearing in mind that the property markets can be case sensitive, it will be a week by week experience. Somehow I think that it won’t be just the property listings that everyone will be looking at. When the property market runs, the circular flow of income quenches the thirst of many.

On the 10th of February the team here at RWM will commence our fundraising appeal for the tsunami families. We want to help our homeless neighbours in our small way by contributing to the rebuilding of villages as quickly as possible. I flew into Phuket just fifteen hours after the tsunami ravaged the people of this beautiful island and what you saw on television could not depict the devastation. We will donate $1,000.00 for every house and $400.00 for every apartment we list and sell between February 10 and June 30, 2005. At RWM our mission is to donate $50,000.00 with a little help from our generous community. We will keep you advised on our progress in future editions…. Certainly well worth a cheers and clink!! ^__^

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