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.
Enjoy your weekend….and please forward to your friends by clicking a social link buttons on the left.
Sliding Aussie dollar has triggered a new wave of interest from Chinese property buyers
The sliding Aussie dollar has triggered a new wave of interest from Chinese property buyers, with the recent 9 per cent fall in the currency making Australian property up to one-fifth cheaper from currency highs, according to AFR Smart Investor.
Compass Global Markets chief executive Andrew Su was reported to say in recent weeks he has received higher levels of inquiry from Chinese clients looking to make foreign exchange transactions in a bid to buy property.
“For many of these overseas buyers, currency moves in the past six months have made home purchases up to [one-fifth] cheaper,” he said.
“And it’s not like property here is cheap, so it makes a significant difference to their buying plans.”
About 18 months ago, Su reported an element of urgency in the currency conversion plans of Chinese buyers which has eased during the year, as a fluctuating currency made buyers more choosy about when they wanted to make the exchange.
But a near 9 per cent slide in the Australian currency since the middle of September had again resulted in a sense of immediacy in the forward buying plans for a number of investors, Su said.
“They’re in touch and they tell me property is looking a lot more affordable now.”
The Aussie dollar sank to a four-and-a-half-year low in early November, almost touching US85.5¢. On Monday, it was stronger at US86.7¢.
Knowing your upper limit at auction | Low interest rates | Getting due diligence right | Hear from the Broker of The Year | Mortgagee sales & positive cash-flow
Another great Real Estate Talk show produced by Kevin Turner. If you don’t already subscribe to this excellent weekly Internet based radio show.
Cate Bakos helps investors buy property at auction. She tells us today that she wants to know their ‘stretch budget’. Hear the questions she asks them before the big day.
Interested to know why interest rates are likely to stay low? We put Michael Yardney on the spot to find out what he thinks.
We have a question of the week winner who may be in a tight spot because of a lack of due diligence on a development site.
Jane Slack-Smith – Broker Of The Year – speaks out for brokers in general who have come in for some criticism recently about how they work and how they are paid.
Mr positive real estate – Sam Saggers – tells us where he is finding properties with good returns right now and we go behind the scenes with a company that specializes in handling mortgagee sales. We get some great advice about what you should be aware of when you are buying from the mortgage company as the seller.
Huge Demographic Trend
The New York Times quotes a UN report stating the Global Number of Youths Is Highest Ever
There are more adolescents today than ever before in human history. Whether they lift their nations to prosperity — or tear them to shreds — will depend, the United Nations warns in a new report, on how swiftly governments can respond to their demands for decent education, health care and jobs.
The report estimates that 1.8 billion people worldwide are 10 to 24 years old.
The emergence of a large youth population of unprecedented size can have a profound effect on any country.
Negative nearing needs to change
When dwelling prices are in their up-cycle tax law tends to be cited as problematic, with a specific criticism being that so-termed “negative gearing” fails to increase the supply of housing stock in the market. Yet the aggregate of market demand for property clearly is increasing supply, with rolling annual building approvals breaching record highs in August.
…… Scrapping tax deductions provides a band aid remedy only. Clinging to the notion that we can house 8 or 9 million people affordably within a contained centric space is folly, and ultimately doomed to failure. NSW does not stand for “Newcastle, Sydney, Wollongong”, but until we collectively accept that, expect more of the same.
Read more here
Australia tops the property list
The Australian reports that Australian home and apartment values have risen faster than any other housing market in the world except Britain during the past 30 years, according to a new global report.
Property group CBRE’s Global Living report, which charts property performance in cities relative to London, shows Australian and British capital values have more than tripled since 1975.
Australian house prices have risen 221.4 per cent in the period, which puts the country ahead of major developed countries including the United States, the Netherlands, Switzerland, France and South Korea.
British house prices surged 232 per cent in the same period.
Weekend video: Amazing Bubble Show
We’re all children at heart. Watch this and be amazed
Blogs you may have missed this week
If you didn’t have a chance to read my daily blog, here’s a list of some of the blogs you missed this week: