Archive for Event

What economists predict for Australian house prices in 2019

In the middle of last year, several top economists were predicting house prices to in fact increase in 2018 – one forecasting as much as nine per cent, but since then house prices have experienced their largest and longest peak to trough decline in recent history spurred on by increased housing affordability constraints, a banking royal commission with a microscope on lending standards, and APRA’s restrictions on new investor loans.

Now that the price falls are well and truly in motion, all five economists recently surveyed by The Australian Financial Review forecast national house values would continue to drop in 2019, with Sydney, the epicentre of the downturn, dragging down the national average.

Stephen Koukoulas, of Market Economics, was most downbeat about the state of the property market, with expectations prices would fall in Sydney between 7.5 per cent and 10 per cent in 2019 after a drop of 7.5 per cent in 2018.

Nationally, he predicted house prices would fall by between five per cent and 7.5 per cent.

“From the 3rd quarter in 2019, I am forecasting some stability in prices as supply and demand forces underpin new activity,” Mr Koukoulas said.

By then he expected cashed-up first-home buyers would be lining up to take advantage of increased levels of affordability.

A key consideration for Geordan Murray, HIA acting principal economist, is that while population growth is slowing, it remains strong and will ensure ongoing demand for housing throughout the cycle.

“The labour market has been improving and is projected to continue to do so. This should contribute to further modest improvements in wage growth,” Mr Murray said.

“There are risks around borrowing costs.”

A key issue mentioned by the economists was that at some point in 2019 is whether the RBA may be forced to consider another interest rate cut if the slump in home prices starts to impact consumer spending and the outlook for inflation.

While each economist offered a variation on how much prices would fall in 2019, each attributed the tightening of credit, rising mortgage rates, and a surge in new supply to the further softening of the market.

To see each economist’s predictions, read the full article on the Australian Financial Review. Please note you will need to be an AFR subscriber to read the full article.

Herewith an Invitation to our Art Sale Exhibition

We would love 💖 you to come and a glass of wine and some nibbles at the opening night!!
See you there?
Please let me know and I will look out for you.
See you there

I am getting back on the bike and it’s not just a metaphor

Not this bike in the feature.
A normal one? Hehehe!
My son and his long-time girlfriend Toni are currently travelling though the US, and some of their things are downstairs – including their shiny new bicycles. My husband bought some sneakers recently and took my son’s bike out, so I decided to take the other one. It’s been a while. I remember cycling alongside my kids when they were off to school at a young age, or weekend trips to Rottnest Island to seek out Qokkas. My grandson loves his pedal bike too, so it’s become a family affair!
It’s so important to keep active at this age, whether it’s daily walks with friends in the morning, or just a 40 minute bike ride around your neighbourhood. I’ve battled bursitis and on and off heel pain, but I feel like i’m in a good place now, and every bike ride is doing me more good.
How do you keep active these days?

How to safeguard your rental bond

As the end of your tenancy agreement approaches, it can be a very tedious process dealing with your bond refund.

Ideally, most tenants will receive their bond money back at the end of the tenancy, once the real estate agent inspects the property against the Property Condition Report (PCR), essentially ensuring the premises is in the same condition as it was at the commencement of the lease, taking into account fair wear and tear.

However, if the state of the property does not comply with the PCR report, then the property manager or landlord has the right to claim money from the bond to cover these expenses, which could be anything from broken door handles to garden maintenance.

What you need to know about your rental bond money.

We want all tenants to be confident when it comes to getting their bond back, so to take the guesswork out of your end of lease inspection, here is some advice when it comes to getting your full bond back.

Fill out the initial condition report

Taking the time to fill out the initial PCR when first moving in can save you a lot of money and hassle when it comes to your last inspection. When moving into a new place, the last thing many tenants want to do is diligently inspect every nook and cranny of the house, but it’s these minor issues that become the very cause of disagreements between the agent and the tenant during the final inspection.

Use the initial PCR as a reference, so you and the managing agent have something to compare when it comes to the final inspection. It can be useful to take photos and be as specific as possible.

Form a good relationship with your property manager/landlord

Communication is key to being a good tenant. If there is something on the property that needs attention, make sure to tell the agent sooner rather than later. Building a good relationship with the property manager or landlord and having open honest communication will ease pressure on both parties when it comes to you vacating the property.

Know your obligations as a tenant

Stay educated with the law surrounding your tenancy. This will lower your chances of being short-sighted with any unexpected issues down the track.

You can visit The Department of Mines, Industry Regulation and Safety website for more information on the laws affecting tenants.

Clean as you go

It might seem obvious, but you’d be surprised at what the result of leaving the drain untouched or not vacuuming under the couch during the length of your tenancy could be. By regularly cleaning your house, you lower the risks of growing mould, stains or lingering smells. If you have carpets, maintaining them is also important as replacing carpet can cost a fortune if stained or damaged.

Understand the bond refund process

Again, knowing what to expect will save you from any unwanted surprises when it comes to getting your bond back. Understanding the process will make things easier for both you, the real estate agent and the landlord.

In the event of an unresolved dispute, the courts will ultimately decide the allocation of bond monies.

If you make every effort to return the property to the owner in the best possible manner at the end of the tenancy, you are in a good position to have your bond refunded in full.

If you have a query about your rental bond or tenancy agreement, speak with your REIWA property manager or call the REIWA Information Service on 9380 8200.

Cooking, Crafting, and Camaraderie.

We had a great lunch with our hostess Maria Antonia cooking a mean Bobo de Camarão an authentic Brazilian dish. A creamy prawn dish. You can check out a recipe here.

Her care and presentation on table setting was very elegant.

It’s great to see what other people do so when my time comes for Christmas entertaining my SIN.ers friends I have plenty of inspiration.

Every time we have lunch at my friends houses I am impressed with the effort they make in being the best hosts. It can be a big job, hosting 15+ people in your home!

All  of the SIN.ers are great cooks except me who rarely cooks anything. Thankfully my husband picks up the slack!

I only have 2 dishes that I call myself an expert on:

Roast Turkey (Canadian style) and Brazilian pudding (flan). That is all! I might not cook these too often, but I do cook them well!

But I think all the members of SINers are great cooks, whether they specialise in savoury dishes or dessert. We have had some absolutely incredible dishes on occasion!

Not only are they crafty in the kitchen -but they’re just plain crafty. They do all kinds of things,  Dress making, creating various knick knacks, patch works, knitting and crochet, jewellery, brides bouquets, a whole range of novelties.
I’m happy to say that I am also one of the crafty bunch, with my crochet bags. Almost every month there is a new item someone has completed. So talented!
Marion Boughton is the expert in these crafts and she showers all of us with all her creations. She is do special and we all love her!

 

New Foreigner Owner Duty Surcharge a disappointing blow for WA property market.

REIWA is disappointed the members of WA Parliament have ignored the concerns of the property industry by voting to pass the Foreign Owner Duty Surcharge tax.
REIWA President Damian Collins said the new tax would likely have significant consequences for the WA property market, which was just starting to show signs of a recovery.

“The WA property market has endured a challenging few years. We are just starting to see the green shoots of a recovery on the horizon. A new tax will only serve to further dampen our already weak market and deter much needed foreign investment from the state.

“WA has the lowest level of foreign investment of any state, second only to the Northern Territory. This ill-timed tax will place an additional barrier for people wanting to move to WA and set up a home.

“Although foreign buyers only make up a small proportion of the WA market, it’s a proportion we can’t afford to lose. Especially at a time when the market is showing signs of stabilising,” Mr Collins said.

Foreign buyers of residential properties in Western Australia will pay a seven per cent surcharge from 1 January 2019.

Who says in old age you don’t get any fun?

Today our Craft group is enjoying a Bus ride to Kings Park and having a pic Nic there.

pictures are worth more than a thousand words.

Here they are:

Globetrotting. My passion!

I am 72 years of age and every so often I get itchy feet and take off on a trip around the world for a month or a month and a half. I have been doing this for the last 30 years. When we lived in Canada we made more frequent trips with the whole family to visit relatives in Brazil, but now being so remote here in Australia I probably do it every 3 years.
I like collecting stamps in my passports – I’ve actually been having a long-running competition with my husband to see who can collect the most stamps! He has an advantage as he visits remote areas around the world for his work in geophysical surveys. No fair!
In 2017 I *finally* caught up with him and am ahead of him by 3 countries (for now). My next trip will be in 2020 but won’t get any new stamps. I’m visiting my relatives in Canada, USA, Brazil ( my nephew’s wedding), Spain, England and Italy. They’ll have to do. (Hahaha, kidding!)
I have been travelling since 1976 when I left Brazil. I have lived in Canada, Malta, Iran, Kenya and finally Australia. We came here as a family in 1991 when my husband’s company transferred him to Perth, and ended up relocating here permanently in 1994 after falling in love with the place and selling our house in Brantford, Ontario.
It’s interesting looking back at all of the places I have lived and people I have known. What a variety! My son was born in Iran, my daughter in Kenya, and I feel that they have inherited my yen for travel too. My daughter lived in Japan for a year, apart from her now-husband, teaching English, and my son and his long time partner Toni are currently road-tripping through the US and Canada visiting relatives, and plan to do the same in Europe shortly.
We have received news that some of our family from North America plan to come and see us next year. This makes me SO happy! We are always appreciative of people who make the long trek over to see us. As you know, it’s not just a quick train/plane ride! So we always do our best to make sure our visitors have a great time.
I don’t know how long I will be travelling. As long as I am healthy I guess. I love Perth, I feel like I live in resort town with that beautiful West Coast I can see every day, but sometimes I just get the urge to go and see new places, or visit relatives and old friends. I am lucky to be in a position to do so, and I don’t intend to take it for granted.
Where are YOU heading next?

New Listing! Rural life style, one of a kind!

76 Bebich Drive, Wanneroo

Prepare to be impressed with the presentation of this well-designed home and its surroundings. A property with total peace and tranquillity, the possibilities are endless on 3.2 acres of prime land.

The 400sqm (approx.) home is surrounded by various orchard trees, luxurious gardens, magical entertaining areas and the sounds of nature. It is your very own sliceof paradise.

The spacious kitchen is a chef’s delight and includes granite bench tops, five burner gas stove, dishwasher and large pantryUnwind and entertain in your multiple living areas, comprising of an oversized games room with bar, spacious family room with a fireplace, elegant formal lounge and dining room, all flowing seamlessly with the outdoors. 

The large master suite overlooks beautiful gardens and flaunts a large walk-in robe and magnificent en-suite bathroomAll three minor bedrooms are double in sizeserviced by two bathroom and two additional toiletsplus a separate study that could be used as a fifth bedroom. 

This superb property boasts an extensive list of fine features including but not limited to;

* Formal sunken lounge and formal dining area

* Functional family room featuring a fireplace

* Separate games room with bar

* Casual dining area 

* Deluxe kitchen with granite benchtops 

* Home office

* Reverse cycle air-conditioning 

*Outdoor entertaining area with pizza oven and BBQ

* Automatic gates with camera 

* Solar hart hot water system

* Security alarm 

Children’s playground and cubby houses 

* Water license with 14 stations 

* Bore reticulated lawns and gardens

* Fruit trees and veggie patch

* Large sheds/workshops

* Massive cellar with running water

* Large laundry 

* Double lock up garage 

* Approx. 13,000sqm block 

Imagine being surrounded by splendid landscapes and being only 22 minutes from Perth CBD. It’s only a short drive to Joondalup Shopping Centre, public transport and school. 

Don’t miss out on this outstanding opportunity in Wanneroo, come see it for yourself. Call Alycee on 0416 188 752 to arrange a viewing.

Check it out: Gado Brazil Steakhouse

In Mt. Lawley 620 Beaufort Street!

ALL YOU CAN EAT!

Gado Brazil is an authentic Brazilian Steakhouse ( Churrascaria ) where the meat is cooked over a wood-fired charcoal BBQ.

This results in a mouth watering flavour and texture that will have you craving for more.

Wood-fired is the ultimate flavour enhancer.

Gado means livestock or herd in Portuguese referring to different types of meat that will be available and presented to you during this unique dining experience.

Gado Menu has been designed in the ALL YOU CAN EST style.

The menu offers over 15 varieties of meat, including beef, poultry, lamb and pork,

Along with the charcoal grilled meats will be served a full selectionnof vegetarian dishes, rice, beans, sauce and desserts all made in house by the Brazilian chefs.

Open Monday, Tuesday and Wednesday all day at $45 p.p.

And receive a complementary glass of house wine or tap beer.

Thursday and Friday:

Happy Lunch at $39pp

Kids under 5 year are free

From 5 to 12 Year $15

Thursday, Friday, Saturday and Sunday diner is $45pp

Dont miss the opportunity to give Gado Brazil a go.

I have tried and the meat melt in your mouth!

  •    

 

Perth rental market improves in August

The Perth rental market continues to show promising signs of improvement, with the vacancy rate falling to 4.5 per cent in August – the lowest it’s been since April 2015.
REIWA President Hayden Groves said the Perth rental market had shown encouraging signs across all key indicators.

“What we are seeing is a steady yet healthy improvement in tenant activity,” Mr Groves said.

“Steady rents, easing supply as listings for rent continue to fall and stronger demand with more leasing activity all point to the rental market leading Perth’s property market recovery.”

Leasing activity was up 17 per cent in August, with 4,805 dwellings leased during the month.

Mr Groves said reiwa.com data had revealed the suburbs of Leederville, Glendalough and Secret Harbour experienced the most significant growth in leasing activity during August.

“Leederville had more than double the amount of properties leased from July to August, with the volumes increasing by an impressive 183 per cent,” Mr Groves said.

“Typically, as we move into these warmer spring months, the property market should see an overall uplift in activity, and historically the sales market follows the rental market during a recovery.”

Perth’s median rent continues to hold for the 17th month straight at $350 per week, with no changes recorded since April 2017.

Mr Groves said it was pleasing to see stability return to the rental market, giving both tenants and property investors’ greater certainty and confidence in the leasing sector.