Easy Home Renovation For Profit » property market

Eastlink Freeway, Effect on home renovating values

Tim — Fri, 30 Jul 2010 02:43:59 +0000

Today, I note the valuation effect of the new Eastlink road a $3.6 Billion Freeway. It links Frankston to Ringwood via a 39 Kilometre tollway. The State Valuer General has noted that the outer East and South Eastern suburbs, have jumped by substantially more than the Melbourne average. The quick access to the city has caused values to jump. Even the historically, largely less valuable areas like Pakenham, Berwick, Rye, Toogarook, and Narre Warren have had strong valuation increases. Please note Valuers Generals figures are usually about a year out of date, as they take time to be collated and released.

The opening of a new transport link like a freeway can have a compounding favourable effect for 25 years, as exampled by the Westgate bridge, opened in 1977 which opened up the Western suburbs. Traffic on the Eastlink Tollway has increased strongly over the last six months, with the June figures up 15% to 169,000 a day. The expectation is for future traffic growth, especially when the new Peninsula freeway is completed and linked to the Eastlink. The Eastlink tollway is still in its inital “ramp up ” phase which will last for atleast and extra year.
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population pressures on the home renovating market.

Tim — Wed, 28 Jul 2010 02:49:36 +0000

The BIS Shrapnel figures on the forecasts for NET immigration are reproduced as follows : As most Australians are not aware of population movements. I am critically keen to publish these figures when one finds them. reference afr 26/07/2010

The figures are 147,000 for 2006

233,000 for 2007
277,000 for 2008

300,000 for 2009

falling to 240,000 for 2010

175,000 for 2011

145,000 for 2012

rising gradually to 250,000 by 2015.

As these are only rough forecastes, the actual figures will be quite divergent. One might like to be acutely aware that several categories of people are not included in these figures, there are New Zealanders, who have easy access, returning Expatriate Australians, returning to our growing economy, short term business overstayers, tourists and other overstayers.

On balance, I suggest the NET immigration figures might even stay relatively stable over this period.

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Population factors effect on the homes property market.

Tim — Mon, 26 Jul 2010 07:26:02 +0000

Recently, as a byproduct of the election campaign, more details of the growth of Australia’s population have been released. Apparently, some major parts of the Immigration numbers have not been counted the 457 Visa for Employment migrants have been ‘rorted “, as so many low skilled jobs, like Hairdressers and chefs have been included, when these groups of people are not required as Highly Skilled migrants. All of the returning expatriate Australians working overseas have not been counted, given there are close to a million Australians working overseas, some 100,000 could easily be returning to Australia. Plus the NZ people who have easy access, and are not counted as immigrants. Numbers of people on Temporary protection visas are not counted : same with overstayers and tourists overstayers. This is apparently a hot political election issue. The student numbers are the area I like, they would make a cat laugh. As numbers have tripled in the last six years to reach 400,000. The most popular courses are English, cooking and Hospitality.

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Cheaper Furniture for Home renovating ideas

Tim — Mon, 26 Jul 2010 05:39:21 +0000

I have noticed in my area, the Nunawading region, some six furniture stores out of sixteen, in Whitehorse road, at Nunawading have closed. This suggests a glut of furniture, recently, a few new stores have reopened, but they are all at the discount end. There are some excellent furniture sales, as I note the opening of the Super AMart has a $2,000 rebate, see www.SuperAMart.com.au While Fantastic Furniture has a Home lot deal from, for as low as $1,999. Other sharp deals can be pursued via www.clearancecentre.valiant.com.au offering up to 75 % off or www.DirectBuy.com.au, or secondhand furniture at www.UsedVictoria.com some 40% off, or other second hand furniture at www.exhotelfurniture.com.au, www.bevmarks.com.au or Hughes Renovators Paradise at www.hughesonline.com.au or www.discountdirect.com.au

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Interest rate where are they going?, effect easy home renovating

Tim — Thu, 22 Jul 2010 02:50:00 +0000

One of the hot topics must be interest rates for homes and home renovating. Are they going up or not ? And the answer is who knows? But the largest indicative home loan interest market is arguably the Futures Interest market showing interest rates could rise 20 points by this coming Christmas. How can one check this market?
It is quoted in the Australian Financial Review, every day in the pages just after the sharemarket quotes. Or one can try the interent using www.tradingroom.com.au and scrolling across to the futures quotes.
The Reserve Bank Australia, RBA, gives regular ambiguous commentary every month, so one can read this at www.rba.gov.au. I recommend one read the original RBA articles and dont rely on the newspaper or TV news quasi- commentary.

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Easy renovating, Melbourne population growth @5 Million

Tim — Wed, 21 Jul 2010 03:51:50 +0000

I am reading the State government planning department Melbourne@5Million growth plan. Some extracts include ” a committment to prepare for the longer-term plans for Melbourne ‘s with the latest population and eonomic growth forecasts.” Melbourne to reach 5 million by 2020, not 2030 as previously projected. Wow!
Established areas are to take the larger proportion of homes growth. Thus a move to higher density living, with the recommmendation that homes be built on atleast 15 per hectare, compared to 12 prior, being a thirty percent greater density level.

Projections are for a Melbourne population of 5.6 m by 2036. This is an extra 1.8 M Melbournians, living in an extra 900,000 homes. This will only be possible with the likely reallocation of Industrial and commercial land to closer housing development, especially at the six designated Central Activity Centres. The Government has a land development company VicUrban, which gets government land cheap and or industrial land, then rezones it for housing. Because the Vicurban can gaurantee the rezoning it should be able to earn heaps and pay dividends to the State government. This would be an good company to monitor for home builders.

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Melbourne’s growth in the home renovating market.

Tim — Thu, 15 Jul 2010 22:09:43 +0000

I am referring to figures from the AFR. Where they are advising me that Melbourne has grown at a rate of 369,534 people in the five years time from 2004 to 2009. The predictions are for an extra one million Melbourne’s residents by 2030 and around, an extra 1.8 million by 2036 . Why ?
I speculate its the strong employment growth in Melbourne, cheaper land, plus strong immigration and strong net interstate immigration. Plus a much more efficient application of the First Home Buyers Grant in Victoria. While one can drone on about Worlds Most Live-able City factors, like culture, the Arts, Concerts, restaurants, ,great beaches,sports events and facilities, even reasonable transport : The big factor is undoubtedly, employment growth: Where Victoria (up 4%) is double that of NSW, rocketing ahead of particularly NSW. The in depth analysis will take a year or so to be released.

I quote Harley Dale from the HIA, “Victoria is the strongest home building state in the country.” It has the best NEW home affordability in ratio to existing property of any major state.
Reading Planning Minister Maddern, Victoria needs 600,000 new homes over the next 30 years : as Melbourne is growing at 1,900 persons a week or 100,000 a year. In his latest comments via the Melbourne@5 Million plan. Maddern sets out six key “Central Activity Districts, being Box Hill, Broadmeadows, Dandenong, Frankston, Footscray, and Ringwood. This is to take the growth pressure off the central city district.

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Melbourne Housing growth boom Why?

Tim — Wed, 14 Jul 2010 04:45:08 +0000

Melbourne is growing at 1700 persons a week; terrific growth, but Why ?
Well who knows!

I suggest the great rate of employment growth in commission only jobs, like salesmen, could be a factor, overseas students studying and working part time, and a flow on effect from the financial crisis being interstate migrants. The cheaper new home and land packages in Melbourne are cetainly one factor. The Victorian government is belatedly responding, releasing more allotments for land development. Currently, the allotments are at a 5 year low of only 1126 available, {April 2010}. The Victorian government has realloted vacant land which will allow 284,000 blocks for the home market over the next 20 years. These are in Casey council at Cranbourne East, 150,000, Northern Suburbs past Broadmeadows, 59,000 and some 57,000 for the West in councils, Wyndhamvale West, Melton and Point Cook. I think the government is starting to take notice, as they have announced some six new rail stations to be built at Caroline Springs, Lynbrook, Williams Landing, Pakenham West, Officer and Wyndham Vale..
Its all part of the Plan. I suggest for readers seeking more detail read Melbourne @5 million. Its the update of the Melbourne 2030 Report.
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New electric Cars effect on Home Renovating

Tim — Tue, 13 Jul 2010 03:40:45 +0000

I am reading here of a Japanese Electric car, which has been driving on an Australian economy run. This is to address the prominent issue, that Electric cars are considered to have a short driving range. The car has completed a 1000 km trip on one charge. This is the equivalent of a drive from Sydney to Brisbane. In Europe, apparently we have available the Mutsubishi Imiev, the Smart Electric car and the Electric Car Company, ECC conversion of a Citroen C 1 class. These are all quite small economy cars with a short driving range, before recharging. The implication for home renovating, is that the car based urban sprawl can continue. Any imperative to be within easy walking distance to tram or train will be reduced. I suggest the key element is the heavy and expensive batteries, costing close to $12,000. These are expected to fall in cost to $3,000 as the car companies ramp up volume production lines. There is also an Electric Motor Bike with terrific economy. It is not yet commercially released.
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Employment figures effect on the Property Market

Tim — Fri, 09 Jul 2010 10:26:51 +0000

The favourable employment figures are excellent an extra 350,000 jobs in Australia over the last year. I realise almost one third of new jobs created are Part- time jobs, but they still count. I argue, many persons might be working two part-time jobs. This is really excellent news, especially when one checks the figures in USA and Europe which are both close to or over 9% unemployment, Spain over 20%. In Australia, the official unemployment rate is 5.1%. The even better news, is the June employment figures show an acceleration in employment growth. Of the new jobs created more than 33% or 105,000 are in Victoria. The implications for the property market, are, when more are employed the more easily they can buy property or hold their homes. So simplistically, more jobs, more income, more home buyers, and less sellers. This all suggests a supporting action for home values.

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