Here’s 3 minutes of property investment good news and you can get on with your weekend…
Well, the ‘bloom’ is starting to outshine the ‘gloom’ – especially in Qld; WA; NT & NSW.
The ABS price growth figures confirm what we & a select group of others have been saying for some time – the housing market is recovering (and has been strong in many regional areas for some time) & 2013 looks set to be a much stronger year – property business-wise – than 2011 & 2012.
And for those few who continue to reply to the Missive posts in an overtly negative way – don’t bother – most, if not nearly all of us – are sick to death of the whinge.
Unemployment has now fallen in Qld to 5.5% (down from 6.3% last September); it remained steady at 5.1% in NSW; ditto in NT at 3.9% & fell to 4.0% in WA. It rose to 6.1% in Vic & SA; lifted to 7.8% in Tas & rose to 4.5% in the ACT.
Queensland also recorded the biggest job gains in January (+30,200), followed by NSW (+8,100) and Western Australia (+2,100). Jobs fell most in Victoria (-30,000), followed by South Australia (down 3,100) and Tasmania (-1,500).
Over the past couple of years the missing ingredient in the domestic economy has been confidence.
Next week several key confidence indices will be released, and the anecdotal signs point to a rebound. Last year’s interest rate cuts, healthy house prices and rising share markets should provide some level of encouragement to households and businesses.
1. Home prices rise
Commsec doesn’t disappoint on the good news front again this week with a report that capital city home prices rose by 1.2% in January and up are 1.8% on a year ago.
Now, the figures may not sound like much, but this represents the second biggest monthly increase in property prices in almost three years.
Total returns on capital city houses were up 6.2% on a year earlier and units were up 7%.
Coupled with a pickup in new home sales the figures confirm a modest turnaround in the housing sector.
2. Monthly economic indicators
The latest set of economic indicators bode well for Australia:
- Retail sales in December were up 15% on a year ago – the fastest pace of growth in 10 months
- Industrial production was up just over 10% – fastest in nine months
- Fixed asset investment over 2012 was up by almost 21%.
3. Stop it
Here are five things you need to stop doing if you want to make it as an entrepreneur, says Inc.com.
- You live online – stop wasting time playing with apps, emailing and texting.
- You network randomly – relationships are critical to business success; but random connections waste time – focus and make real, reliable relationships instead.
- You want stuff – hopes & dreams are great, but successful entrepreneurs are willing to sacrifice.
- You look for a lottery ticket – stop looking for an easy way out, a quick fix, or an overnight viral success. It’s not coming.
- You ask people how they can help you – instead, ask how you can help them – that’s a door opener for opportunity. Understand the motivation of the other person.
Michael Matusik is the director of independent property advisory Matusik Property Insights and writes the Matusik Missive which is free, however, reprinting, republication or distribution of any portion of this material, or inclusion on any website, is strictly prohibited without the written permission of Matusik Property Insights and may incur a charge.