House windows and tables to soon start ‘talking’
House windows and tables to soon start ‘talking’
Posted on Monday, December 03 2012 at 4:15 PM
Have you ever wondered ‘how on earth did I ever live without a mobile phone?’
Many younger
people might laugh at the thought of only being able to speak when a phone is
connected to the wall, but in the future Australians are likely to say the same
thing about their ‘smart home’. Homes will have talking computers in every room
and just about every surface of the house – making sure older residents
get their daily dose of vitamins and can get to appointments on time, according
to insurance provider APIA.
“The home of the
future will likely be much ‘smarter’, completely wired to adapt to our needs
with smart-glass, moving walls and sensors built in,” APIA says.
“If you think the
technology we have today is impressive, you haven’t seen anything yet. The
future is going to be full of adults that won’t be able to remember a time
without touch screen phones and table computers. You’re going to start to see
technology like live video streaming and conferencing integrated into windows,
table tops and other surfaces.
“Homes will also
buck the trend of the last 50 years by being smaller and for the most part,
single-level buildings with flexible multi-use spaces. They’ll share common
facilities with neighbours, utilising design concepts that help people stay in
their homes longer.”
APIA spokesman
David Skapinker says a new report, The Future of Over 50s: Home, suggests home will
change dramatically by the time today’s 20-year-olds turn 50.
Technology will
be totally integrated. In fact, homes will become like a personal assistant, Skapinker
says.
“It will take
instructions from your health care team, making sure you get the exercise, food
and medication you need when you want it. It will keep you organised and
present all the information you need on almost any of the surfaces in your
home,” he says.
Homes are also
likely to be smaller and multi-purpose. For example, the spare bedroom will
double as an office space. Homes are also more likely to be fully sustainable.
“Whether it’s
solar panels built directly into the roof, the rainwater collection system or
the grey water and waste recycling system, over 50s in the future will be fully
environmentally sustainable,” he says.
Gardens will also
be important, but get used to sharing them!
“Individual
dwellings (will be) centred around common gardens and shared open space
facilities will be the development of choice, helping to reduce upkeep.”
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Consumer confidence bodes well for property
Consumer confidence bodes well for property
Posted on Friday, January 11 2013 at 3:50 PM
Investors will be pleased to hear that despite some recent negative press, building approvals are business as usual and consumer confidence is up.
CommSec’s
latest release shows dwelling approvals rose 2.9 per cent in November after a
5.1 per cent decline in October.
In
conjunction, consumer confidence rose by 3.1 per cent to a 12-month high
according to the Roy
Stanley Consumer Confidence Rating.
The
results indicate that despite some observers highlighting a negative market
sentiment in the residential sector, the figures show activity is basically
operating at normal levels.
The
data also suggests that interest rate settings are at about the right level.
The
trend is clear – Aussie consumers are gradually becoming more confident with
emphasis on the word ‘gradual’, says the CommSec release.
Provided
that the gloomy economic news stays away, we could expect consumers to become
more upbeat, embracing a strong dollar, low unemployment, better housing
affordability and cheap finance rate, notes the release.
In
terms of building approvals, the 2.9 per cent rise retraces some of the decline
in October and sets the annual level as up 13.2 per cent.
According
to CommSec, the data suggests that interest rate settings are about right and
the construction industry can look forward to a year of Goldilocks activity –
not too hot, not too cold but just about right.
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RBA delivers pre-Christmas rate cut
RBA delivers pre-Christmas rate cut
Posted on Tuesday, December 04 2012 at 2:56 PM
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to three per cent, as economists had widely tipped.
It’s now at its lowest level since the
height of the GFC in 2009.
If passed on in full by lenders, the
reduction would equate to a $50 per month saving on a mortgage of $300,000.
RP Data senior research analyst Cameron
Kusher says the RBA likely responded to economic conditions rather than the
state of the housing market.
“Dwelling values are 2.1 per cent higher
than what they were at the end of May this year and there’s been a modest
uptick in transaction volumes, which suggests consumers are slowly responding
to the previous rate cuts,” Kusher says.
Economists are already discussing the
possibility of another rate cute in early 2013.
Treasurer Wayne Swan fired a pre-emptive
attack at banks this morning, urging them to pass on any official rate cut in
full.
The RBA Board will next meet in February.
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Six ways to make your resolution a reality
Six ways to make your resolution a reality
Posted on Tuesday, January 08 2013 at 12:48 PM
Did the beauty of the beach over your summer holiday allow you some quiet time to plan your goals for 2013? This could well be your first week back at work after the Christmas break, and like many investors, your New Year’s resolution could be to purchase another investment property in 2013.
Jane Slack-Smith of Investors Choice Mortgages says many clients come
back after the holidays and ask for a loan for a property in Byron Bay or
Noosa. The problem is many clients are comparing prices with Sydney or
Melbourne – they think they’re getting a bargain if they pay $300,000
instead of $700,000 for a house.
“Everything is cheap. You might see a unit with beach views for $250,000
and think it’s fantastic,” Slack-Smith says.
“But the reality is, a lot of those properties on the market are having
trouble selling. You have to think ‘how would I sell this if I needed to down
the track?’”
Another potential problem is using 2012 data for your 2013 dream. For
example, Slack-Smith has recently seen a number of contracts fall over in the
mining boom town of Gladstone, Queensland, based on the fact valuations are
coming in lower than the buying price. There are also lots of properties
available for rent in Gladstone, which is hurting investors with vacant
properties.
Slack-Smith says investors should do their own research when it comes to
investing. She offers the following tips to make sure your investing dreams
become a reality in 2013:
- Figure out exactly where you want to buy and do
your analysis. - Figure out your numbers and exactly what you can
afford. - Spend the next few months building a good team
around you. Find a helpful team, including an accountant, building inspector,
surveyor, etc. - Search for a few months for the right property –
take your time and don’t rush into it. - Work out what the property will cost you to hold
and what profit you might be able to make, either in the short-term or
long-term. - Make sure the property will achieve your goals. Are
you chasing capital growth or cash flow?
“Trying to reclaim the holiday glow by buying in the holiday location is
probably not a good idea,” Slack-Smith says.
“People who are retiring don’t want to use all their money to buy in a
coastal location. Buying something just because it’s cheap might not fit the
demographic. Work out how the property fits in.”
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NT development fees rise
NT development fees rise
Posted on Wednesday, January 02 2013 at 10:30 AM
The New Year meant more than sore heads and resolutions for developers in the Northern Territory, with increases to development application (DA) fees taking effect on January 1.
The processing fee for a project with an
estimated cost up to $100,000 was lifted to $190, up from $152, while those higher
than $100,000 but not exceeding $250,000 now carry a fee of $571, up from $457.
Those proponents with a project cost up to
$1 million will now pay $828 for their application to be processed, rising from
$662.
And for those at the top end – projects
between $10 million and $25 million – the fee is now $7612, up from $5250.
New DA fees – from January 1, 2013
Minister for Lands, Planning and the
Environment, Peter Chandler, says the costs are still among the lowest in the
country, despite the increase.
“If you compare the basic fees for a
$450,000 development in Newcastle, Lake Macquarie or Canberra, the fees are
$1833, $1628 and $1777 respectively,” Chandler says.
“In comparison for the same development,
the fee in the Territory will be only $828.”
There were also increases to other
development-related applications. Obtaining a planning certificate will now set
you back $113, up from $84, while applying for a certificate of compliance
comes at the higher cost of $180, up from $133.
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More protection for buyers and sellers
More protection for buyers and sellers
Posted on Wednesday, January 02 2013 at 10:31 AM
Investors facing legal issues with the buying and selling process in New South Wales are likely to have better protection, thanks to the introduction of compulsory professional indemnity insurance for real estate agents.
NSW Minister for
Fair Trading, Anthony Roberts, says the changes will ensure consumers who are
buying or selling a property or renting or living in a strata scheme will have
the security of knowing that if they’re entitled to financial compensation, the
property agent will have insurance over the claim.
“Given the risks
associated with liability confronting the property industry, appropriate
professional indemnity insurance cover is a must,” he says.
“The majority of
professionals working in the property industry already hold this type of
insurance, however it’s essential that those who don’t are brought in line with
the best practice standards.”
All agents will
be required to hold at least $1 million coverage for any one claim and no less
than $3 million in the aggregate for all claims made during the period of
insurance.
The regulation
also specifies mandatory coverage of certain insurable events such as
negligence, misleading or deceptive conduct, breach of professional duty,
defamation, interference with intellectual property and fraud or dishonesty by
an employee.
Real Estate
Institute of NSW chief executive Tim McKibbin welcomed the new regulation.
“This is a
win/win for consumers and agents,” he says.
“Clearly,
professional indemnity insurance will provide the consumer with an avenue of
redress if they suffer a loss resulting from the provision of services provided
by an agent.
“In addition, it
will also provide business owners with the ability to respond to claims without
placing their businesses in jeopardy.”
The changes are now compulsory. However, if a
licensee already has insurance coverage under a policy issued before January 1,
2013, the policy will be considered to comply with the requirements of the
regulation until that existing policy expires, or until January 1, 2014 –
whichever first occurs.
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Returns on property rose in 2012
Returns on property rose in 2012
Posted on Wednesday, January 02 2013 at 1:48 PM
Despite a year of ups and downs and flat price growth, property has emerged as a sound investment method.
CommSec chief economist Craig James says total returns on residential property, taking into account by prices and rents, grew by four per cent in 2012.
By comparison, returns on cash investments rose by 3.7 per cent on average in 2012, James says. Both were dwarfed by average sharemarket returns, which grew by a staggering 19 per cent.
RP Data-Rismark’s Home Value Index shows capital city home prices were down 0.4 per cent for the year, indicating significant declines have slowed.
A modest rally in most major markets in the second half of the 12 months helped to recover losses in the first six months.
Cameron Kusher, RP Data senior research analyst, says capital city values remain 5.7 per cent lower than their historic highs of November 2010 but are up almost two per cent from their low of May last year.
Dwelling values are higher than a year ago in three of the eight capitals, being Darwin (up 8.9 per cent), Sydney (up 1.5 per cent) and Perth (up 0.8 per cent).
Rental growth outpaced value growth last year, with capital city dwelling rents up three per cent in 2012.
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Housing shortage worst it’s been in 100 years
Housing shortage worst it’s been in 100 years
Posted on Tuesday, December 04 2012 at 3:50 PM
Poor planning and a major underinvestment in vital infrastructure are failing new residential areas.
That’s the frank assessment delivered by
the Urban Development Institute of Australia (UDIA) in response to the State of Australian
Cities 2012 report released today by the Federal Government.
One of the key findings of the report was
that the gap between population growth and housing supply is the largest it has
been in more than a century.
At the same time, it highlights planning
deficiencies, infrastructure shortfalls and other issues facing the country’s
major cities.
UDIA national president Julie Katz believes
lessons should be learnt from the past and called for the removal of “barriers
to supply, such as the excessive taxation on the housing industry”, as well as
antiquated planning systems.
A new, radical approach is needed to tackle
housing shortages in a way that doesn’t replicate those service issues, she
says.
“We’ve clearly
underinvested in infrastructure in residential growth areas despite strong
levels of population growth.
“The net result has been residents in new outlying
communities being exposed to congestion while productivity in general has
suffered.”
And it’s likely to only get worse.
Australia’s population is projected to grow significantly in the next two
decades.
“This will require new residential
subdivisions to be supported by more infrastructure than is currently the
case.”
A mechanism is required to kick start new
housing in existing suburbs close to transport and job hubs, she says.
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More than $5000 to be saved on housing construction from 2013
Posted on Monday, December 17 2012 at 4:39 PM
Queensland property investors building new dwellings from 2013 could save thousands of dollars following the Newman Government’s scrapping of compulsory rainwater tanks and gas, solar or heat pump hot water systems.
Minister for Housing and Public
Works Tim Mander says those building new dwellings could save more than $5000
when the new laws come into effect from early 2013.
“Taken in conjunction with the $15,000 First
Home Owner’s Grant for new dwellings, that’s a massive saving for anyone planning
on building a new home,” Mander says.
“People who want to install rainwater tanks or a particular type of hot
water system can still do so. The difference is that the decision is now theirs
to make.”
The new laws allow councils to make the decision on retaining mandatory
rainwater tank requirements where they can prove a net benefit to the community,
Mander adds.
“Under existing laws, owners of homes in
reticulated natural gas areas are restricted to gas, solar or heat pump hot
water systems, which often cost thousands of dollars more than the electric
model they’re replacing,” he says.
“Although solar or heat pump systems are more
energy efficient, they are more expensive to buy and often require extra
plumbing and electrical work to retrofit the existing property before they can
be installed.
“Replacing a broken hot water system is often a
significant, not to mention unexpected expense,” Mander says.
“It’s not fair to force people to choose the
more expensive product.”
The Housing Industry Association and Master
Builders applaud the move for housing affordability reasons.
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Sit back, relax… and plan your property portfolio
Sit back, relax… and plan your property portfolio
Posted on Tuesday, December 18 2012 at 8:59 AM
Are you going away for the Christmas break? Perhaps you’re staying at home, but still taking some time off? Either way, Christmas is a great time to relax with the family – and madly plan for 2013.
Gavin Hegney of
Hegney Property Group says it’s not uncommon to see a ‘seasonal jump’
post-Christmas as people plan their goals and ambitions.
“We all get
clouded with reading newspapers and stories,” he says.
“The good thing
about getting away is it allows for the things we want to achieve to come to
the surface.”
He warns people
not to waste the Christmas break and set time to work out “what’s really
important”. That could include paying down household debt and mortgages.
However, Patrick
Bright of EPS Property Search says investors should forget New Year’s
resolutions and instead form a seven-year plan.
“If you get the
plan right, it’s really powerful,” Bright says.
“Revisit your
plan every year and think long-term. People always underestimate what they can
achieve within three to five years, but overestimate what they can achieve
within 12 months.”
He says investors
should stick to blue-chip suburbs in 2013, which are safe and expected to
experience some capital growth, provided investors buy around the median price
range.
Hegney adds the
Perth and Sydney markets will probably perform next year, while the Melbourne
and Adelaide markets are still looking grim. Brisbane is a mixed bag, being
dragged down by the Gold Coast and the Sunshine Coast, he believes.
“Every market
goes in cycles but across the board, interest rates have been dropping. If they
drop again next year, it’s a good thing if it’s used to repay debt.”
Below are some
tips to think about over the Christmas break.
- Write
down your goals for 2013 and how you will achieve them. - Plan
a budget for 2013. - Think
about how you can benefit from interest rate drops – what will you use the
extra money for? - Don’t
plan for just the next 12 months, think about the next three to five years. - Pinpoint
a few suburbs you’d like to buy in, so you don’t get bogged down with too many
options. - Decide
what strategy you’d like to use – negative gearing or positive cash flow? - Spend
time with your family, they are probably the reason you invest in the first
place! - Look
back at 2012. What worked for you, what didn’t? - Assess
your current portfolio and how you could improve it. - Don’t
be too hard on yourself. It’s all about learning, growing and getting closer to
your dreams.
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