Mark Hay Blog

It was meant to be a case of home sweet home when evicted landlord John Sharma returned to his Mt Richon home this week. Instead, Mr Sharma found his beloved home which he had shared with his 11 year old son for more then a decade, had been trashed.
Mr Sharma was banned from going within 200m of his own home after his tenant and house-mate stopped paying rent and took out a restraining order on him, as revealed by the Sunday Times earlier this month.

Source: The Sunday Times (23 October 2011) written by Linda Parri [read more]

"Here is a positive spin for a change, we are certainly feeling a slight change in the breeze for the better!!" Mark Hay

The slide in Australian house prices will reverse over the next three years as first-home buyers, then upgraders and investors return to the market. At least that is the view of analysts BIS Shrapnel in the latest LMI Housing Outlook report from leading mortgage insurer, QBE LMI. Over the next three years, 2012-2014, BIS Shrapnel managing director Robert Mellor expects house prices to grow by 20 per cent in Perth, 19 per cent in Sydney, and 16 per cent in Brisbane.

 

Melbourne, which is coming off a strong housing run, and has weaker supply-demand fundamentals, is expected to rise by only about 6 per cent.  Affordability in Melbourne is a concern to BIS Shrapnel. Mr Mellor said the lowest 25 per cent of houses in the city had been selling at prices above the lowest quartile in Sydney. Adelaide (7 per cent) and Canberra (8 per cent) will also lag in this upturn because their housing markets are possibly over-supplied.

Source: The Australian Financial Review (12 October 2011) written by Robert Harley [read more]