Hi! Welcome to the latest MTLH eMagazine. In this edition Michael Marquette in his regular column gives an insight into the state of the current Australian real estate market. There's also articles on Asia's most expensive luxury apartment, the value of The White House in Washington DC, plus auction results, eating chocolate whilst dieting and much more. Enjoy reading and have a great weekend. All the best, Michael Marquette & Simon Turner .
The quickest way to double your money is to fold it in half and put it back in your pocket.” - Anonymous “
“View from the Bridge”: The State of the Australian Real Estate Market Michael Marquette’s “View from the Bridge” There is a confusing array of messages being conveyed by journalists, real estate brokers, economists and Government and sorting through it all is hard work to
say the least. Are prices going up? Are rental prices on the rise? Is the economy powering ahead? These are questions that need answering and by looking at some of the available evidence we can sort through the haze. Since peaking in the March quarter Australian weekly rental prices have dropped on average by 4%. Many people have used the First Home Owner’s Grant to purchase a home and that has relieved some of the pressure on rental prices. It’s also worth looking at the number of properties advertised for sale right now. There are 14% less properties on the market this October as compared to the same time last year. This decrease in stock levels is assisting to hold residential sale prices up, especially for homes below the $1 million level. The high-demand Coastal areas are selling for significant price reductions when compared to the same time last year, with the ever popular Gold Coast recording sales with an 8% price reduction (approximately). The activity has without doubt been at the lower end of the market, in line with the First Home Owner Grant.
So what other information might help us establish what is really happening out there? Australia’s second largest real estate Group, LJ Hooker, has made a net profit of $8 million in the last 12 months as compared to $14 million the previous year. In short, sales activity has decreased on the whole and sales have been at the lower end of the market, with fewer trophy sales. Average sales commissions are significantly lower than 12 months ago. Australians have purchased homes with the help of the big four banks over the last 12 months, especially at
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the First Home Owner Level. The First Home Owner Grant has created an artificial price bubble and banks have loaned money to people with small deposits and little room to move as interest rates increase – this is a frightening situation.
• Michael Marquette’s “View from the Bridge”: Who’s to Blame for the Economy, Employment & Real Estate Troubles?
The International Monetary Fund has warned Australian Banks could be at risk of losing $33 billion AUD due to bad loans to customers who would struggle to repay the debt. We are still seeing companies collapse or go into receivership on an almost daily basis and the level of underemployed in the country is estimated to be anything from 10-15% of the total workforce or around 1 million people.
• Sydney Real Estate and Infrastructure: Michael Marquette’s “View from the Bridge”
• View from the Bridge: Australians Far Too Complacent About the Economy
Article originally published on Marquette Turner Luxury Homes “View from the Bridge”: The State of the Australian Real Estate Market
HEALTH TIPS: Eat More Chocolate The Flat Belly Diet currently featured in the new magazine Prevention, advocates the benefit of chocolate and avocado every day. So what is MUFA? – food containing monounsaturated fatty acids.
Household debt is still at around $3.5 trillion AUD, up from around $700 million AUD just 10 years ago. Essential debt deflation from households is still to come and employers are being careful with wages and increases in wages will be minimal at best in the foreseeable future.
Although not low in kj’s they are essential foods high in MUFA and should be incorporated in each of our three daily meals. Dark chocolate varieties with 70% cocoa solids, such as Lindt, Nestle’ Club or Cadbury Old Gold are the choices and a serving equals 4 or 5 squares. This is definitely my type of diet!!
With all of this evidence would a reasonable person expect property prices to boom anytime soon? Are predictions of 20% increases in property prices realistic? According to the 5th Annual Demographia International Housing Affordability Survey, Australia already has over a third of the sixty housing markets ranked “Severely Unaffordable”. Australian home buyers are already stretched further than most other home buyers – there is little room to move toward even higher levels of borrowing. Christine Watson
Michael Marquette on +61 433 170 170
If you enjoyed this article, why not try one of these If you enjoyed this article, why not try one of these • “View from the Bridge”: Misinformation Continues
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• Sydney Real Estate Report: Snapshot at July 21, 2009
• HEALTH TIPS: Drinking Alcohol Responsibly • GOOD HEALTH: Soda Water and Grape Juice – Good For A Healthy Heart • RECIPE: Summer Salad is a Healthy Option • GOOD CAUSES: Juvenile Diabetes
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• Health News: The World is Getting Louder and our Health is Suffering Article originally published on Marquette Turner Luxury Homes HEALTH TIPS: Eat More Chocolate
India Flexing Muscle in Australian Luxury Real Estate At Marquette Turner Luxury Homes we watch our web traffic very closely to assist in our marketing of Luxury Homes and in predicting changing trends. One of the most profound shifts in our internet traffic in the last quarter has been from India with almost 20% of visits to our website coming from India. As India continues its emergence as a Global Superpower, we are experiencing a surge of Indian interest in Luxury Homes in Australia and the Greater South Pacific. If only 1% of all Indians were wealthy enough to purchase abroad, there would be a massive 12 million people with the ability to purchase Luxury Homes.
by the prospect of a new push in the purchase of Luxury Homes. Michael Marquette on +61 433 170 170
If you enjoyed this article, why not try one of these • Showcase Luxury Home Magazine Sep 2009 from Marquette Turner Luxury Homes • What is the Point of Having a Website that Nobody Looks at? • Luxury Real Estate September 25 2009: Marquette Turner Luxury Homes eMagazine • 2009 September 11: Marquette Turner Luxury Homes eMagazine • 2009 September 09: Marquette Turner Luxury Homes eMagazine Article originally published on Marquette Turner Luxury Homes India Flexing Muscle in Australian Luxury Real Estate
Luxury Hong Kong Apartment Sells for $57.3 million For some people in some places the global financial crisis has proved merely a small blip on the real estate radar. Take for example the sale of a luxurious apartment in Hong Kong which has just sold for approximately $57.3 million USD.
The wealthiest 1% of the Indian Population control 16% of the country’s wealth. The power of the Indian elite is undeniable and the Marquette Turner Luxury Homes website is now available in Hindi which is proving to be a huge marketing advantage.
Located in one of the cities wealthiest districts, Conduit Road, the Chinese buyer now has a magnificent 6,158 square feet apartment with five bedrooms, grand harbour views, an aroma spa centre, fitness room and outdoor yoga gym (part of the development). Based purely on value per square foot, it is the most expensive in Asia.
India is now the fourth highest contributor to Australian immigration after China, New Zealand and the United Kingdom. India also was the highest contributor to Australia’s temporary arrivals which is a huge indicator of migration trends. I am watching the buying choices of our Indian clients closely and I am extremely excited
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Sydney real estate, Canberra real estate, and Tasmanian real estate. Whilst we don’t typically make comment on these results, it’s interesting to note the huge variation in Melbourne’s results for the last week (Sep 27th) compared to previous weeks. This is purely based on the AFL Grand Final being held in Melbourne that weekend and everything stopping to watch Geelong beat St Kilda! View the August Results Week Ending Sep 06, 2009
Simon Turner
If you enjoyed this article, why not try one of these • India Flexing Muscle in Australian Luxury Real Estate • Luxury Real Estate: October 7, 2009 Marquette Turner Luxury Homes eMagazine
Week Ending Sep 13, 2009
• What is the Point of Having a Website that Nobody Looks at? • A Million Dollars is Going Further in Most US Real Estate Markets • Luxury Real Estate around the World by Michael Marquette Article originally published on Marquette Turner Luxury Homes Luxury Hong Kong Apartment Sells for $57.3 million
Australian Real Estate Auction Results for September 2009
Week Ending Sep 20, 2009
This article features the latest Australian Capital City/ State auction clearance results for September 2009, that being for: Perth real estate, Adelaide real estate, Melbourne real estate, Brisbane real estate, Created using zinepal.com. Go online to create your own zines or read what others have already published.
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• 2009 June Australian Real Estate Auction Results • Australian Auction Results – March 2009 • Australian Auction Results – February 2009 Article originally published on Marquette Turner Luxury Homes Australian Real Estate Auction Results for September 2009
Week Ending Sep 27, 2009
Join the Foxtel Lap and Help Us Raise Money for the Murdoch Children’s Institute Marquette Turner Luxury Homes and Total Body Conditioning are running in support of the Murdoch Children’s Institute in the Foxtel Lap at Martin Place, Sydney on November 13, 2009. If you have 30 minutes to spare, we’d love you to join our team. You can help great causes such as research into the prevention and alleviation of asthma, allergies, diabetes, mental health and premature births. Simply by a gentle walk on a treadmill (or a leisurely run if you prefer), you will also help in the raising of $800,000 for the Institute, as well as getting free singlets, caps, gym towels and refreshments!
Michael Marquette on +61 433 170 170
If you enjoyed this article, why not try one of these • Australian Capital City Auction Clearance Results: August 2009
Please Contact Christine ASAP to register your interest in taking part with us. Christine Watson
• Australian Real Estate Report – Auction Results at July 12, 2009 Created using zinepal.com. Go online to create your own zines or read what others have already published.
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If you enjoyed this article, why not try one of these • GOOD CAUSE: The Foxtel Lap for the Murdoch Childrens Research Institute • GOOD CAUSE: Walkers and Runners Needed For the Foxtel Lap • 2009 June Good Cause: National Men’s Health Week • Luxury Real Estate: Oct 2, 2009 Marquette Turner Luxury Homes eMagazine • GOOD CAUSES: Juvenile Diabetes Article originally published on Marquette Turner Luxury Homes Join the Foxtel Lap and Help Us Raise Money for the Murdoch Children’s Institute
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