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.
RBA reports huge apartment growth in four years
There’s no denying apartment living has skyrocketed across all capitals in the last few years, and there’s no sign of a slowdown.
The astonishing numbers have been reported in an article for Your Mortgage Magazine, proving that this housing trend has well and truly made its mark.
The number of apartments in capital cities rose as much as 36 per cent since 2012, a new report from the Reserve Bank of Australia stated.
In Sydney alone, apartment quantity has risen by almost 20 per cent since 2012, with units last year accounting for one-third of all residential building approvals.
Brisbane has an even higher number at 36 per cent, followed by Melbourne at 30 per cent and Perth at 20 per cent.
“The strong volume of apartment construction has made a significant contribution to economic growth and employment,” wrote Michael Shoory, the author of the report titled, ‘The Growth of Apartment Construction in Australia.’
“The majority of the new apartments have been built in the most populous cities and primarily near inner-city areas or close to transport infrastructure.
The increase in apartment construction has delivered many dwellings that are less expensive than larger, lower-density housing… mostly in areas that are well-connected with amenities and employment centres.”
Sydney, Melbourne, and Brisbane account for more than three-quarters of all apartment approvals since 2011.
Sydney had building approvals for 78,000 apartments from 2012 to 2015, while Melbourne had 68,000 and Brisbane had 30,000.
Find the full article here
Why half of all investors sell up in under 5 years + Abolish stamp duty
Another great Real Estate Talk show produced by Kevin Turner.
Michael Yardney shares some thoughts on how not to fall into the category of Australians who get into property investment never achieve the financial freedom they aspire to, and worse still property investors who lose a heap of money and lost opportunities along the way.
Nhan Nguyen has some advice for those wanting to get into small developments.
Shaynna Blaze design guru and star of Selling Houses Australia, returns to share some thoughts on her business and we get to see another side of Shaynna.
John Flavell Mortgage choice chief executive joins us to outline what is happening to lending restrictions and how it’s affecting borrowers.
John Cunningham has called the tax unjust, inefficient and market distorting and he joins us to look at the alternatives.
If you don’t already subscribe to this excellent weekly Internet based radio show do so now by clicking here.
With the election only one week away both party leaders are well and truly in crunch time to secure the public’s votes.
A fairly decent performance from Prime Minister Turnbull on Q&A this week.
The bookies now pricing in the Coalition as red hot favourites for a Federal election cakewalk.
Meanwhile, consumer confidence has increased to its highest level since November 2013.
The 4 week average consumer confidence gauge is also at a 2.5 year high.
Consumers reported being increasingly upbeat about their finances.
Read the full article here
Huge number of investors face “financial devastation” as spruikers operate unchecked
When planning for retirement, one of the most significant steps is finding the right professional to give advise on savings and property investment – unfortunately when giving that trust into the wrong hands, the outcome it catastrophic.
According to an article in Your Investment Property Magazine there has been a significant rise in property spruikers, taking advantage of investors trust, and leaving them in financial ruins.
Australia may not realise the full scope of issues caused by property spruikers until close to generation of people are unable to support themselves in retirement.
According to one member of the real estate advice industry, circumstances of people facing financial ruin after acting on unqualified or non-independent advice is much more prevalent than the industry or government realises.
Now the principal of property advice firm Surbanite, Anna Porter’s previous career saw her work as a property valuer managing the mortgaging and possession portfolio for some of Australia’s major banks, an experience that left her with a desire to shine the light on the impact spruikers can have on everyday investors.
“I’ve seen the financial devastation first hand and it’s something that I’m passionate about trying to prevent,” Porter said.
“As a value you would hear the stories of why somebody’s was being repossessed and what had gone wrong and often it came down to bad decisions like over-leveraging themselves on investments thanks to bad advice and it was devastating to see that first hand again and again,” she said.
Such is Porter’s desire to illustrate the impact property spruikers are having, she has recently written a book, Whistle Blower, which she hopes will equip people with the knowledge to avoid falling for the too good to be true opportunities offered by spruikers and also shine a light on how widespread the issue of people facing trouble due to bad property advice really is.
Click here for the full article
Smorgon family mansion sells for over $24 million and sets new Melbourne property record
When driving through the leafy streets of Toorak, one can only imagine the prices of the mansions before them.
But in a record breaking high one of Australia’s most well known family’s has a set a new standard in property sales, as seen in this article from Domain.com.au.
This Toorak mansion is the most expensive house ever sold in Melbourne, snatched off the market this week for more than $24 million.
No 4. Robertson Street is understood to have sold for a sum that beats the metropolitan house price record, set in 2010.
Domain understands that at least three prospective buyers were in contention to win the keys from vendors Tony and Jennifer Smorgon, members of the respected business dynasty of which the late billionaire entreprenuer and philanthropist, Victor Smorgon, was patriarch.
Marshall White agent Marcus Chiminello listed the custom-made trophy home just 19 days ago.
The sale is especially swift for the highest strata of the market, where the most opulent and expensive mansions can take years to change owners.
Whispers around the nearby Toorak Village are that an offer was put forward which trumped the Victorian record of $26 million, but the buyer offered better settlement terms.
The buyer is rumoured to be a leafy east local, but all details of the deal are cloaked in confidentiality
Click here for the full article