Anecdotal evidence suggests that consumers are cutting back on their spending around Australia. And it’s likely that luxury items and overseas travel will be the most affected.
A recent article in The Age expounded “The Flight to Value” — where Australian Property Monitors reported a 24% drop in the median price for Toorak Homes, in the 6 months to September.
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There are a couple of questions on the minds of Commercial Property Investors at the moment.
And they go something like this.
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According to the recent Property Council (PCA) report in the Financial Review (AFR) … the 6 months to June saw overall demand for offices fall around Australia — as business confidence has gradually waned throughout the world.
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The various signals coming through on the economy are mixed. And we continue to hear more doom and gloom from the US.
Australia’s growth is likely to slow a little. However, on balance, we should now experience a soft landing — with the RBA saying this morning, that the rate rises may have done their job; and inflation looked as though it might have peaked.
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With all that has occurred recently as a result of the American Sub-Prime crisis … Property Investors are finding it hard to gauge the current market.
Some are preferring to “sit and wait”. Whereas, others are seeing it as an opportunity to secure a good deal … while the present confusion reigns.
You probably saw that the “Full House” notice went up yesterday for the Property Workshop.
But there is provision for you to go onto a Wait List, if you missed out on reserving your seat — because, invariably a few people will drop out between now and March.
PLUS, if you do put yourself on the Wait List BEFORE the end of January … I will still honour the early-bird rate of $797 for a seat.
However, if you wait-list yourself AFTER 30 January … then unfortunately, it will have to be at the full rate of $1,100.
So, make sure you don’t miss out for a second time.
There has been much made of the poor US Retail Sales Data for December.
However, the figures were only down 0.4% on November. The most likely explanation being that some early Christmas shopping occurred November; and the increase in gift-card sales will not come through until early in 2008.
Clearly, the Sub-prime issues are having some effect. But, if you follow HS Dent at all — their view is that … “a short, mild recession is indeed likely, and we are arguably already in the middle of it.” (Update: Wednesday 16 January 2008).
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Well, here’s some good news on the next Property Workshop!
Following a barrage of emails from those of you who took off the week before Christmas … you will see that the early-bird registration has been extended until the end of January.
However, I suspect the “Full House” sign will be going up before then. Therefore, if you haven’t already reserved your seat … make your decision now — rather than miss out.
Looking forward to seeing you there.
Chris
As the New Year opens, there are obviously some concerning signs emerging …
Despite all this, Australia is largely insulated — but will still feel some of the side effects.
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I was just checking through the enrolments for the Workshop so far … and it seems that the interstate people are currently outnumbering those from Melbourne … by about 3:1
Last time, local and interstate enrolments were more or less balanced … so let’s try and even that up.
Make sure you enrol now, to secure your pre-Christmas discount.
What you’ll learn at the Workshop …
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