There are more interesting articles, commentaries and analyst reports on the Web every week than anyone could read in a month.
Each Saturday morning I like to share some of the ones I’ve read during the week.
The weekend will be over before you know it, so enjoy some weekend reading…and please forward to your friends by clicking the social link buttons.
Advisers are offered $10,000 a week to sell property by struggling developers
Desperate times call for desperate measures for struggling property developers.
An article in Your Mortgage Magazine has reported that advisers are cashing in on property sales and referrals thanks to deals they are making with developers.
Real estate buyers should be cautious with advisers presenting deals that tend to be more beneficial to the latter.
Some documents show that advisers can get up to $300,000 a year for closing a successful sale every week.
They can also get $5000 for every successful residential property referral.
Companies that represent property developers selling almost-completed apartments and houses offer 1 per cent commission for a $500,000 property.
According to Suzi Antic, director and investor advocate for Melbourne Property Acquisition and Investments which acts as an intermediary between developers and advisers, the departure of Asian investors is affecting the market.
“A lot of developers are really struggling to sell apartments that have been built.
That means they are honing in on local buyers.” Antic says.
Despite the latest interest rate cuts, property sales have been lower.
Some real estate agents claim sales inquiries have decreased by about 40 per cent since lenders tightened regulations on overseas’ borrowers.
There is also growing concern that there will be an oversupply of apartments that may outpace the demand for these.
As a result, developers now even offer luxury flights and accommodation packages to Europe and Asia for potential buyers, along with discounted or extended settlement terms.
Click here for the full article
Why 70’s units rock + It’s not smooth sailing for a flipping expert
Another great Real Estate Talk show produced by Kevin Turner.
Michael Yardney reveals why ’70s apartments rock in his opinion.
Brad Beer from BMT Tax Depreciation, discusses what he looks for in an investment property.
Nhan Nguyen continues he’s progress of attempting to flip a property in 30 days and turn over a tidy profit.
Rich Harvey slams real estate companies misrepresenting themselves as buyer’s agents and offering free services.
Tim Godden national director for Seekology, discusses how his business helps investors and owner-occupiers find the ideal property.
If you don’t already subscribe to this excellent weekly internet based radio show do so now by clicking here.
Demographic dividend (40 million)
The subject of immigration has been sitting at the top of Australia’s key points for as long as anyone can remember.
Migrant intake and population growth
The Productivity Commission’s Inquiry Report Migrant Intake into Australia is truly a behemoth document, clocking in at nearly 750 pages.
Alas it’s such a monster that it can’t easily be summarised in a nifty blog post with a few pithy quotes, so let’s not even attempt to do that (…or shall we?).
Over the past seven decades, seven million people – including me actually – have migrated to Australia.
On the present trajectory there would be another 13 million immigrants between now and 2060.
Australia wants young, skilled migrants, ideally predominantly English speakers, to help deliver a demographic dividend:
“Younger and more skilled immigrants are best placed to make a positive economic contribution to Australia.
These types of immigrants provide a demographic dividend by increasing the proportion of people in the workforce, thus reducing the negative impacts associated with an ageing population.
Skilled immigrants are also more likely to generate spillover benefits through enhanced productivity, innovation, and greater flexibility to move to other occupations in response to changing labour markets.”
Read the full article here
Why Auckland is the hottest property market in the world
The property market has a new hot spot and it’s talking the world by storm.
In an article for The Guardian, the city of Auckland, knows as the ‘city of sails’, has been reported as a fierce new player in the property world.
What is happening in Auckland?
It’s the hottest housing market in the world according to a new survey and although prime minister John Key has repeatedly declined to use the term, most New Zealanders agree Auckland is facing a housing crisis.
A third of New Zealanders – nearly 1.4 million people – now live in the “city of sails”.
Ten years ago the average house price was NZ$500,000 (£277,000) – this week it peaked at NZ$1m – and for that cash you won’t be getting water views and a marble kitchen.
Instead you’ll be able to purchase an un-renovated three-bedroom ex-state house in the city’s fringe suburbs.
Average rent prices are also over NZ$500 a week, which accounts for 32% of the average household income in Auckland.
Home ownership nationwide is at a 60-year-low, with figures, predictably, worst in Auckland.
Why is Auckland so popular now?
The jobs are there.
It’s New Zealand’s most “global” city.
If you want to get ahead in your career, at some point you’ll probably consider moving to Auckland, or won’t want to move out because you have managed to secure work.
It’s also a beautiful city.
Situated on Waitemata harbour, bordered by golden beaches on either side, with a sub-tropical climate and 2,003 sunshine hours a year.
Read the full article here
Amazing Design: Seven shortlisted finalists for IDEA Designer of the Year
It’s the Oscars of the interior design world and the nominees are in.
This articles from Domain.com.au has given an insight into this years nominees and their award winning projects – with bated breaths, the countdown to the award night in on.
With entry into the ultimate prize in the annual Interior Design Excellence Awards being by invitation only, the seven shortlisted finalists for the Designer of the Year gong this year compete on a level playing field.
With some of Australia’s largest and oldest architecture and design firms contesting with some small, comparatively newly-established practises, equitable chances are only fair.
For instance, Melbourne’s Fiona Lynch Interior Design has only been operating for six years and, says Lynch, the staff has recently “increased dramatically from four to six”.
Woods Bagot has 800 staff spread across 12 studios on five continents and, says presenter Sue Fenton, “the global pool of expertise enables new and unseen typologies to be developed and imbued into projects – from $1billion city transit scales, to the smallest office space of 3×2 metres”.
Hassell also works globally on “big projects” that in this year’s presentation included the hotel-style glamour of the West End London headquarters for a FTSE 100-listed mining company.
The big-gun firms also have endless inventories of awards courtesy of the invested confidence of their deep-pocketed clients.
Australia’s second-oldest extant architectural firm Bates Smart has many heritage landmark buildings in central Melbourne to its credit and more recently awarded projects such as Canberra’s Airport Hotel and Dinner by Heston Blumenthal on Melbourne’s Southbank.
In the presentation it made to the IDEA jury a fortnight ago, Bates Smart explained a project that was a complete contrast in scale to all of those, and one almost entirely appointed in douglas fir timber.
106 Flinders Street is a 95-square-metre office space designed to be “tranquil” and to display exemplary wood craftsmanship.
Click here for the full article