There are more property investment 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 interesting 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.
First home buyers aren’t gone, they’re just investors now – John McGrath
In Switzer property guru John McGrath explains a trend I’ve noticed for a while:
New research suggests first home buyers aren’t actually absent from the market, they’re just buying for investment rather than owner-occupation.
Australia’s market recovery is being driven by investors, particularly in NSW where around 50% of new borrowers are purchasing for investment, according to the latest stats from the country’s biggest broker, AFG. Meantime, just 3.4% of new borrowers in NSW and 9.9% of borrowers nationwide are buying their first homes – well below the long term average of 15-20%.
He goes on to explain:
Affordability and lifestyle are the main reasons why many young people are buying first investments instead of first homes. They can’t afford to buy in the lifestyle suburbs they want to live in – despite earning good incomes, so they’re buying in more affordable areas for investment instead. This gets them on the property ladder without compromising their lifestyle, which they hold very dear.
Gen Y is often described as a ‘generation of renters’ and in some ways, this is true. Living in their favourite lifestyle suburbs – which are often markets that are too expensive to buy in, or remaining at home with their parents is more appealing than doing what our generation did – scrimping, saving, buying a small first house on the outskirts and commuting to work.
How much do you need to retire?| Cross Collateralisation | Negotiating strategies
Another great Real Estate Talk show produced by Kevin Turner. If you don’t already subscribe to this excellent weekly Internet based radio show.
In this week’s show:
Margaret Lomas explains why cross-collateralization of property is a good thing
Rob Balanda gives you some tips on negotiations strategies
Carolyn Majda from Terri Scheer Insurance talks to us about some of the complications that can occur when you let a property to a family member or friend
You should definitely subscribe to this weekly audio program. Click Here It’s free and you can listen on the go on your smartphone, iPad etc.
Population Booms In Australia’s Biggest Cities
Your Investment Property Magazine report that Australia’s capital cities attracted three times as many new residents as the rest of Australia as at June 2013.[sam id=43 codes=’true’]
ABS Director of Demography Denise Carlton said that two in three (66%) Australians now live in a capital city, but that this was projected to increase to 72% by 2053.
Interestingly the magazine also gives a not of caution:
While population growth is an indication of housing demand, it doesn’t necessarily translate to strong price growth when there is sufficient supply to meet it.
Property values rise when there is more demand than supply; therefore, you need to investigate the level of housing supply going into the area before you buy.
Developers tend to flock to high population growth area and overbuild. When this happens, even areas with booming population could see property price drop as in the case of Gold Coast in Queensland and Docklands in Melbourne.
Appetite for million dollar property in Brisbane grows
In another sign that the Brisbane property market is on the up The Brisbane Times reports that the prestige property market is now more active.
Demand for prestige property with a million-dollar-plus price tag is on the rise in southeast Queensland, new figures show.
According to Place Advisory, 2334 homes changed hands for $1 million or more across the southeast corner last year, up 20 per cent on the previous year.
Million-dollar-plus sales increased the most in Brisbane, rising 23 per cent between 2012 and 2013.
Sales in the same price bracket increased by 15 per cent on the Gold Coast and six per cent on the Sunshine Coast.
Although the majority of high-end properties in Brisbane sold for between $1 million and $1.49 million, 27 houses changed hands for more than $4 million. Meanwhile, 24 properties on the Gold Coast sold for $4 million or more.
10 Things Happy People Don’t Believe
So you want to be happy? Well, there’s only one thing standing in your way according to Lifehack: You. Happiness is a choice that only happy people make. Here are the 10 delusions happy people don’t subscribe to.
1. Life is fair.
Happiness isn’t about always getting what you want.
2. Suffering is bad.
You cannot survive this world without at least a little suffering.
3. I’m in control of things.
As hard as you work, and as much as you try to plan it all out, you’re just not in control. You cannot control the actions or thoughts of others. In order to reach happiness, happy people accept this inevitable truth and learn to be proactive rather than reactive to life’s surprises and mishaps.
4. People are obligated to love me a specific way.
If your happiness is dependent on how other people feel about you, you will never be happy.
5. Everyone hates me.
This is a toxic belief and a delusion, yet sadly a great proportion of unhappy people fall prey to this, which is largely why they are unhappy.
6. I can’t.
If you believe you are incapable and let that belief keep you from happiness, then ultimately you give truth to a self-imposed fallacy.
7. I have something to prove.
Unhappy people seek happiness through approval. Unfortunately, that approval is impossible to achieve because it is caused by a inner lack, which keeps them constantly striving. Happiness can only be achieved through self-acceptance. Yours is the only approval you need.
8. It doesn’t matter.
“It doesn’t matter” is just an excuse. It’s what unhappy people tell themselves to avoid confrontation when they’ve been mistreated, or to endure a lack of courage when they don’t follow their dreams. Happiness matters. Respect matters. Don’t dismiss your needs to avoid responsibility of your own happiness.
9. I’d be happier, if only I were [fill in the blank].
You know your routine. I’d be happier, if only I were skinnier, prettier, smarter, the CEO. Happy people know the secret to happiness is accepting themselves–flaws and all. It’s okay to work on improving yourself–we’re always in a state of learning–but it’s not okay to berate yourself for your flaws. Focus on your strengths.
10. I’m too old.
You are never too old. Yes, you may look silly. And, yes, it may be harder than you expect, but it’s never too late to choose happiness.
Blogs you may have missed this week: