SALES NEWSLETTER NOVEMBER 2009
Sunday, November 01, 2009
HOUSE PRICES SET TO RISE
Property prices across Australia are expected to grow by as much as 23 percent over the next three years, as upgraders and investors pile back into the market.
Low interest rates and a shortage of affordable housing, coupled with growth in rental rates, will continue to drive up house prices - despite the threat of higher borrowing costs, according to the QBE Lenders' Mortgage Insurance (QBE LMI).
Housing shortages in Sydney and Melbourne should drive growth of 21 percent and 19 percent respectively, LMI predicts.
Ian Graham, chief executive of QBE LMI said the outlook was particularly good for first home buyers who have recently joined the housing ladder, and should also lure more investors back to the market.
"The surge in first home buyer demand is now slowly permeating through to greater demand from upgraders who are trading over to their next dwelling after selling to the buoyant first home buyer market," he said.
"The strong rental environment and stabilisation of prices is also beginning to attract investors back into the market."
Activity from both groups should pick up over the remaining months of 2009, said Mr Graham, propelling demand next year and picking up the slack in first time buyer demand after the First Home Owner Grant ends in December.
While low interest rates have helped the property market back to its feet after heavy losses last year, Mr Graham warned that a fragile economy and the continued high cost of borrowing will limit short term price gains.
Prices are not expected to pick up speed until the latter half of 2010, looking ahead to 2011 and 2012.
While first time buyer demand will drop back, a "clear recovery" is beginning to emerge in lending to upgraders and investors, Mr Graham said.
"Which is likely to continue to gather momentum in the coming months, and take up the baton as the main drivers of demand once the First Home Owners' Grant expires at the end of 2009."
The Reserve Bank lifted official interest rates from near half-century lows to 3.25 per cent and signalled more rate rises to come.
''While interest rates are forecast to rise over 2010-2012, the outlook for the Australian housing market looks positive,'' said QBE LMI chief Ian Graham.
''The current low interest rates will be the main driver for house price increases, which are expected to accelerate through to 2012, particularly in those markets with positive affordability and continuing undersupply of housing.''
Source: Ninemsn Money & Domain
FIRE SAFETY TIPS
Here are just a few of the precautions recommended by the Fire and Rescue Service to protect you, your family and your home:
- Take extra care when assessing the level of risk from intruders so that it also provides for a planned safe means of escape for your family should there be a fire.
- Make sure keys to all locked doors are readily accessible if you have deadlocks fitted.
- Make sure each and every window and door can be quickly opened when required.
- Install an adequate number of suitable smoke alarms and test them regularly. Don't forget to replace the battery in each smoke alarm at least once a year.
- Have a written escape plan in case of fire and practise it regularly.
- Never leave cooking or any other open flame unattended.
- Never smoke in bed and take extra care if consuming alcohol while smoking.
- Store all flammable liquids in purpose-designed containers.
- Fit a fire extinguisher in the home.
- Regularly clean the lint filter of your clothes dryer.
- In winter take extra care when using heaters, electric blankets or open fires. Do not exceed the manufacturer's recommended use by date for electric blankets.
- Don't overload power points. Switch off appliances when not in use.
- Always keep lighters and matches away from children.
- Keep emergency numbers in a very visible place and educate all members of the family how to call for help and escape from fire.
WHITE RIBBON DAY
Wednesday 25th November 2009
By wearing a white ribbon;
It is a visible sign that the wearer does not support or condone the use of violence against women.
Everyone can show their commitment to ending violence against women.
Proceeds from purchasing a White Ribbon go towards changing community attitudes through high impact awareness campaigns.