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

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

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.

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?

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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Electrical Appliances where one can save Electricity, while home renovating.

There are several high energy use (inefficient) electrical appliances, where one can save heaps.  These include the Hot Water Electric Kettle, Tumble clothes dryer, Dishwasher, refridgerator, Electric oven, Electric hot plates, Electric Air Conditioner, Electric Hot water heater, Idle computer and Printer time.  These are the high use appliances. I suspect with the likely rises in electricity prices we will all be carefully considering the use of the above appliances, checking their Energy Star ratings.
I know there are excellent efficient appliances in Europe. I anticipate these appliances will be imported here.
I am moving several appliances to gas wherever possible. Who can predict the return of the gas refrigerator? Lets look at American home electricity use of close to 11,400 KWh annually, given a low cost of  12 cents a Kilowatt, produces a total cost of $1,324 a year.  While in Australia, the average home uses 6,570 KWh at close to 20 cents per KWh, giving an electricity bill of around $1,314 a year. Australian living standards are around a third lower than the USA. I am expecting the average Australian electricity bill to double over the next four years.

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