News Archive
06 May 2009
Record consumer spending may avert recession in March quarter
CONSUMERS spent a record $19.3 billion in March, spurred by the government's stimulus spending, raising the possibility that the nation may not yet be in recession. Retail trade jumped by a seasonally-adjusted 2.2 per cent in March, the Australian Bureau of Statistics said this morning, compared with expectations of a 0.5 per cent increase. The less volatile quarterly figures for the three m... read news item »
05 May 2009
RBA leaves cash rate unchanged
THE Reserve Bank has left interest rates on hold at 3 per cent, as widely expected. In its monthly board meeting today, the central bank decided not to cut interest rates. Most economists were expecting the cash rate to remain unchanged at a 49-year low. In a statement released after the announcement, governor Glenn Stevens said conditions in global financial markets remain generally &quo... read news item »
03 May 2009
Take the leap with eyes open
It's important to know what you're in for when entering the property market. A renovator's delight with a cheaper price tag might sound like the perfect way to get yourself into the property market but insiders warn you need to understand just how much doing up a property can cost. Builder Michael Eagleton does renovation work through his Miranda company Midon Constructions and says a basic hous... read news item »
26 April 2009
Warnings for young and old
Winter is the worst time of the year for house fires to strike, with about half starting in the kitchen. Most fires take place during cooking hours, usually between 2pm and 6pm, while many occur later at night, between 10pm and 6am. This week, in the lead up to winter, NSW Fire Brigades is building awareness of the key seasonal risks through Fire Prevention Week. "We would love not to have... read news item »
24 April 2009
Insiders say first Homeowners scheme will be extended in the May Budget
IN an unexpected boon for new buyers, the Federal Government will extend the first homeowners scheme in the May Budget - defying predictions it would be axed. The move is part of a bid to boost the home construction market, following lobbying by the housing industry. Prime Minister Kevin Rudd would not commit on the issue yesterday - prompting Liberals to attack him for "cruelly teasing&q... read news item »
23 April 2009
Tricks of the trade
Recreate the luxury look of top hotels in your home. In Melbourne's luxury Crown Towers Hotel the ceilings of the suites glow. It's an effect the designer of the spaces, Jeff Copolov, compares with stepping into a luxury car. "The lights go on when you first get in and then go down," he says. "It makes everything feel floaty and ethereal." With guests now well-acquainted ... read news item »
22 April 2009
Have your cake and eat it too
A mortgage redraw facility is the best way to save. For Melbourne financial planner Julian Place, the past six months' rate cuts mean little difference to the amount of spare cash he has. He is maintaining his old, higher monthly repayments to clear his debt faster. Place and his wife also deposit anything left over at the end of the month into their home loan. He says his clients are doing the... read news item »
22 April 2009
Sydney house prices tipped to rise in early 2010
Sydney house prices are tipped to rise in early 2010, a half-yearly survey of property industry sentiment shows. The Australian Property Institute survey found Sydney's residential sector will be first to emerge from the downturn, but Melbourne and Brisbane will have to wait until at least the second half of 2010 for things to improve. The Australian Property Directions Survey quizzed 29 profes... read news item »
21 April 2009
Land tax how to minimise it
Land tax is a tax imposed by all state and territory governments (except in the Northern Territory where no land tax is imposed). The tax payable is based on the combined unimproved value of all the land you own. In other words, it is calculated on what all your land would be worth if it was vacant. Land tax is payable on property you own, other than your principal place of residence. There are ... read news item »
10 April 2009
Horror story
Buying your first home is scary stuff, but not if you follow our survival guide. Two years ago, my beloved and I embarked on a mission to buy our first home. After 15years of renting, when savings were channelled into travelling, car ownership and purse-draining creative projects, home ownership seemed impossible. Newly married, with parents offering help with the deposit, a cat and a race ca... read news item »