McConnell Bourn

killara’s finest home – 8 coronga cres killara

matthew — Fri, 02 Dec 2011 00:53:36 +0000

Housing prices to increase by about 20% in Perth and Sydney by 2014: QBE LMI report

matthew — Wed, 12 Oct 2011 06:41:12 +0000

Jonathan Chancellor has posted an interesting article re the furture price growth of australian property:
Tuesday, 11 October 2011
Price growth of 20% is forecast for Perth and price growth of 19% is forecast for Sydney by 2014, according to the QBE Lenders’ Mortgage Insurance housing outlook report researched and prepared by BIS Shrapnel.
In Perth the forecast reflects the stronger economic conditions driven by accelerated investment in the mining and resource sector, and in Sydney the forecast is a result of the growing deficiency in household dwelling supply.
Overall house prices in Perth are estimated to rise by a cumulative total of 20% over the forecast period – the highest among all capital cities – to $565,000 as at June 2014.
This reflects price growth of around 6% per annum, which is similar to the expectation of household income growth over the three years to 2013-14, and equates to an 8.8% total rise in real terms.
The Sydney median house price is forecast to lift by a total of 19% to $770,000 over the three years to June 2014, a total rise of 8.1% in real terms, according to 2011-14 report released today.
In Sydney, owner-occupier and investor demand is forecast to rise in 2012, underpinned by the rising dwelling deficiency and strengthening economic conditions, leading to higher price growth and dwelling construction.
The report shows that although the median house value rose to $644,700 in June 2011, real house prices in today’s dollar terms remain below their median house price peak of $707,000 in the March 2004 quarter.
The underlying strength of the Australian economy and the continuing shortage of residential housing in Australia, together with stable interest rates, is expected to support Australian housing prices, according to the QBE LMI housing outlook report.
Ian Graham, chief executive of QBE Lenders’ Mortgage Insurance Limited (QBE LMI), says despite the current volatility in the global economy, QBE LMI is cautiously optimistic about the outlook for the Australian housing market.
But Melbourne in the three years to June 2014 is forecast to have the lowest price growth of 6%, due to record levels of new dwelling supply eroding the current dwelling deficiency.
More moderate house price increases between 6% and 8% are expected in Adelaide, Hobart and Canberra.
There is solid price growth of 16% tipped for Brisbane and 17% in Darwin.
First-home buyer demand, which has suffered recently, is forecast to enter a recovery phase through 2012 as the economic outlook becomes more positive and in the anticipation of first-home buyer confidence strengthening as housing becomes more affordable. Investor demand is expected to recover over 2011-12, in line with first-home buyer demand, and support prices at the entry-level end of the market.
The current stability in interest rates is expected to continue well into 2012. There is now a possibility that the Reserve Bank of Australia could cut interest rates in late 2011 to kick-start a recovery in consumer confidence and spending, thereby initiating the next phase of demand, the recovery in the economy and housing market.
Graham notes that Australia is well placed to deal with any uncertainty that our economy or housing market faces in the next few years

World’s Best at Crave Sydney Food Festival

matthew — Mon, 26 Sep 2011 05:00:32 +0000

Living in Sydney means partaking in some of the best cuisine in the known universe. Is it any wonder then that the world’s top chefs will gather for the Real Masterchef program – the Crave Sydney International Food Festival’s World Chef Showcase 2011.

Festival director Joanna Savill has scoured kitchens all over the world for the past three years to invite Michelin stars and innovative chefs to Sydney to come and share passion with food lovers downunder.

“It’s interesting to see an individual chef and what he or she does,” says Ms Savill. ‘‘But there’s kind of an extra texture and context, I suppose, around grouping together [chefs with similar interests]… I mean, there’s no rules when it comes to how they do food, no guidelines that they follow.”

Local heroes will be there, including Mark Best, Peter Gilmore, Elvis Abrahanowicz and Ben Milgate, Matt Moran, Martin Benn, Frank Camorra, Luke Nguyen and Adriano Zumbo.

From farther afield, Swedish chef Magnus Nilsson, New York’s Gabrielle Hamilton and David Chang, Daniel Patterson from San Francisco, and Peruvian Gaston Acurio, who owns 28 restaurants worldwide.

Also appearing, among a host of other celebrated chefs, will be Jon Shook and Vinny Dotolo, the two dudes from reality TV show Two Dudes Catering who now run Animal, one of the hottest eateries in Los Angeles.

Part of October’s Crave Sydney International Food Festival:
World Chef Showcase 2011
Hilton Sydney – October 1 and 2.
Tickets: $185 for half-day, $310 full day, $510 for two full days.

Australia is Out of the Woods

matthew — Fri, 23 Sep 2011 05:00:38 +0000

We’re a long way from the woes of the world here in Sydney’s Upper North Shore. In particular, the national debt crises dawning elsewhere.

These are serious problems and developed-world growth will be a long uphill struggle. For many governments, deficits will consume spending and it will take the best part of a decade to bring unemployment back down.

But the problems are not quite at the scale of the Global Financial Crisis. That crash followed a debt-driven investment boom, as happened in the 1980s.

Here in Australia, we were not party to over-investing in the boom that preceded the GFC. Our banks remain strong and have minimal exposure to countries now under threat of sovereign debt.

Three-quarters of our exports are Asia-bound. China is in surplus and will continue looking to Australia to contribute to its growth.

Household saving is a precautionary strategy and businesses are holding back in the face of uncertainty. Many are in cost-containment mode and not investing for growth. Yet moderate growth we have.

Australian businesses will soon hit capacity constraints and switch out of survival mode, triggering private investment and underwriting growth. And households will loosen the purse strings.

For Australia, the cycle has hit bottom and will soon reverse. Current global financial turmoil is delaying recovery. But it’s just a delay. Growth is imminent.

For property, not enough is being built and much stock is trading below replacement cost. Property remains a low-risk, high-return proposition.

Weekend Garage Sale Will Be Big

matthew — Wed, 21 Sep 2011 05:00:10 +0000

Garage sale shoppers on Sydney’s Upper North Shore may wish to widen their horizons this coming weekend… as far afield as Cherrybrook.

On Saturday 24 September, the Giant Charity Garage Sale and Fair will be held there by the Rotary Club of West Pennant Hills and Cherrybrook.

You’ll find loads of bric-a-brac, a stack of books and assorted appliances, as well as toys for the little ones. There’ll be bikes, furniture, and plants for your garden. You’ll be able to rummage through clothes, crockery, tools, and other items.

Proceeds from sales will go to the Black Dog Institute, Operation Hope, Lifeline and other community and Rotary projects.

Early starters will not be running on empty, because tea, coffee and other drinks will be available on the day, as well as a cake stall and a serious BBQ.

This being a community project, you can also participate by donating goods you no longer have use for, such as furniture, working appliances, crockery, glassware, toys, bikes, books, clothes, CDs, tools – all manner of items that are attractive and in good working order.

To arrange pickup or delivery please phone 0468 330 667.

The Giant Charity Garage Sale and Fair
From 8am, Saturday, 24 September 2011

Rotary Club of West Pennant Hills and Cherrybrook
cnr Shepherds Drive and Macquarie Drive, Cherrybrook

Entry: Free

Enquiries: Rotary Club of West Pennant Hills and Cherrybrook 0468 330 667 or email.

Trading Up in the Current Property Market

matthew — Mon, 19 Sep 2011 05:00:16 +0000

Residential property in Sydney’s Upper North Shore is always appealing… even more so when the market slows.

Now could be an opportune time to trade up to a more expensive home.

A smart strategy would be to sell now and arrange alternate housing before buying your new home. This will give you time to get used to sitting in the driver’s seat. The market will favour buyers for a while yet.

If you sell then buy straight away, you’ll probably still be ahead of the game because your purchase should be discounted more than the loss on your sale.

For example, say your present house is valued at $860,000. To snag a sale in this slow market, you drop your price by 10 per cent. Buyers like a discount and your sale goes through at $774,000.

Effectively you “lose” $86,000. Perhaps you bought this home for $640,000, 10 years ago. In your hands, it has appreciated $134,000, less the costs of sale. (We’re ignoring monthly repayments because the likely alternative would have been rent payments.)

Your eyes are now on a $1.2 million house. It’s in the same distressed market, so you can probably buy at the same 10 per cent discount – $1,080,000 – saving you $120,000.

So you “lost” $86,000 on the sale of your home but “made” $120,000 on the purchase of your new home. You’re $34,000 in front.

Sunday Festival at Galston

matthew — Fri, 16 Sep 2011 05:00:36 +0000

This Sunday, 18 September 2011 a trip to the Bushland Shire Festival promises a fun-filled day for the whole family.

The festival is part of Galston Spring Fest 2011 – download map and program PDF – and will have events and activities for all ages.

For the kids at the Bushland Shire Festival, there will be live stage show performances by SpongeBob SquarePants (at 11am and 1pm), as well as other performances including the Extreme Karate Kids Show, Crocodile Encounters, and musical acts. The Kid’s Fun Zone and a variety of rides will also keep the young ones busy.

The Dog Zone will feature dog races, pet advice and giveaways.

At the historic Netherby Cottage and rural museums, you’ll learn about the history of the festival’s venue – Fagan Park.

Taking place in the African Garden, will be the annual Galston Rotary scarecrow gathering.

If you enjoy gardening, you’ll enjoy the festival’s Eco Gardening demonstrations.

And of course, there will be market stalls to browse and an abundance of international foods to sample, while you’re being entertained by live music throughout the day.

Bushland Shire Festival – click here to download program and map
Sunday 18 September, 10am to 4pm
Fagan Park, Arcadia Rd, Galston

Entry: FREE
Park onsite with $5 donation to Hornsby SES. Free shuttle bus from Hornsby Station.

For more information, phone 9847 6739.

How Will Energy Star Ratings Affect You?

matthew — Wed, 14 Sep 2011 05:50:55 +0000

Older homes, many of which can be found in Sydney’s Upper North Shore, are less likely to fair well under proposed energy star ratings for homes being sold or rented.

The Federal Government’s plan to introduce mandatory energy star ratings as early as next year will cost vendors and landlords about $200 for a property assessment.

Energy inefficient homes can also expect their values depreciate as a result.

These energy ratings assessments are expected to reap about $1.1 billion in government revenue over 10 years.

Australian housing industry commentators expect older homes and over-sized mansions to score poorly in terms of energy efficiency. Renovated workers’ cottages and bungalows are also low on the green scale. Reduced property values or sustainable upgrades are the two choices that face owners of such properties.

Mandatory disclosure for energy is in place already in the ACT, with star ratings out of 10 provided to any potential home buyer. You can see the energy ratings for ACT homes for sale at www.realestate.com.au. For each one star rating increase, it is estimated that there is a 3 per cent average increase in sales price. A 5 star home would therefore attract, on average, a 9 per cent higher price than an equivalent home with a 2 star rating.

The rating scheme will allow buyers and renters to more easily determine which properties would be more cost-effective to run.

Sydney Your Fringe is Showing

matthew — Mon, 12 Sep 2011 05:00:36 +0000

Culture vultures here in Sydney’s Upper North Shore are always ready for entertainment that rises above the ordinary.

There’s every chance you’ll find what you’re looking for at the Sydney Fringe Festival, a multi-disciplinary showcase of new ‘alternative’ performance works.

The Fringe prides itself on inclusiveness and is constantly pushing the envelope with its spirit of adventure, finding both new artists and new audiences.

This year’s festival, which describes itself as “Your City Unleashed”, promises something for everyone but the middle-of-the-road – to name but a few: alternative theatre, cabaret, dance, comedy, visual arts, even a special event section for the little ones, called Fringekids.

Among the festival’s many events, there’s the Sydney Park Ghost Stories session which will appeal to adrenalin junkies. There’s Cine 428, presented by the friendly folks behind the Sydney Latin American Film Festival, and a party in the streets called Reclaim the Laneways.

For wannabe actors, don’t miss the Performance Masterclasses by the Actors College of Theatre & Television (ACTT).

And after a sell-out success at last year’s festival, the Mystery Bus is back with a program of quirky events at undisclosed locations around Sydney’s Inner West.

The Sydney Fringe Festival runs until Sunday 2 October 2011. Find shows and book tickets online.

Photo above: 101 Dance L’Afrique

The Mother of Re-Invention

matthew — Fri, 09 Sep 2011 05:00:54 +0000

Sydney’s North Shore residents are no strangers to recycling. The aspect of it that excites most of us, though, is ‘upcycling’.

Upcycling is rewarding. It’s green. It makes practical sense. And it’s creative.

Improving your skills and exploring the creativity and environmental friendliness of upcycling is what you will gain by booking your place in an upcoming workshop.

The workshop will present easy upcycling techniques to select old clothes and fabrics and transform them into wonderful new items such as bags, wall hangings, table settings, cushion covers and curtains.

An expert on giving pre-loved item a new lease of life is Julie Patterson, owner of Cloth Fabric, who will present the 3-hour workshop on Saturday 17 September 2011 in Glebe Cafe Church, 37 St John’s Road Glebe.

Julie will be giving workshop attendees the opportunity to recreate something fabulous from recycled fabric to take home with them. High level sewing skills are not needed, so don’t worry if sewing is not your forté.

The workshop is a free City of Sydney Green Village workshop.

You will need to RSVP online as places are strictly limited.

Upcycle: Grunge to Gorgeous Homewares
Saturday 17 September from 10am to 1pm
Glebe Cafe Church, 37 St John’s Road Glebe 2037

Cost: Free

Enquiries: City of Sydney 02 9246 7301, mecraig@cityofsydney.nsw.gov.au