THE Melbourne Cup interest rate slug could force struggling small businesses to the wall, the sector’s peak lobby group warned.

Council of Small Business of Australia executive director Peter Strong said while bigger business would be able to hang on, smaller businesses were doing it tough.

“They will be looking long and hard as to whether they can carry on,” he said.

Mr Strong said while parts of the economy were booming, the small end of town was struggling with the two-speed economy.

“I don’t know what the RBA was thinking by increasing the rate,” he said.

Mr Strong said he agreed with the Australian Retailers’ Association assessment of the RBA as a “Grinch” stealing Christmas.

He said many small businesses were retailers facing high rents and were likely to be hit by a drop in discretionary spending.

ARA executive director Russell Zimmerman said retailers desperately needed a freeze on interest rate rises in the lead-up to Christmas.

This would give retailers a chance to recoup over a year of slow trade during the end-of-year holidays.

“History tells us that when consumers have to deal with increased mortgage repayments in the few months before Christmas it has a disastrous impact on retail trade during the festive season,” he said.

CommSec chief economist Craig James described yesterday’s increase as “a body blow” for retailers, other consumer-driven businesses and the housing industry.

“Consumers remain super-cautious about spending, and the lift in rates will give people even more reason to stay away from the shopping malls, real estate offices and car yards,” Mr James said.

The rise came hours after a new survey blamed interest rate rises, a winding back of stimulus spending and uncertainty about the global economy for denting business confidence.

While the Australian Chamber of Commerce and Industry survey looked at all businesses, the small end of town was hardest hit.

The survey, in conjunction with the Commonwealth Bank, found the September-quarter indicators for all businesses, regardless of their size, either remained the same or deteriorated.

ACCI economic policy director Greg Hogan said the rise would hit many businesses, especially those in consumer-sensitive areas such as retail.

Real estate group Ray White said the decision was unnecessary.

“Jawboning about interest rates rising before Christmas has already had the intended impact of an actual rate rise,” chairman Brian White said.

“The anticipation alone of a rate rise has already had a significant impact on the residential property sector, with buyer interest restrained.”

Instead of listening to the pleas of retailers … the RBA is once again the Grinch who stole Christmas”

Story by Claire Heaney www.heraldsun.com.au

View the original article here

CFS Retail Property Trust is seeking to raise about A$500 million ($477 million) to buy as many as four shopping malls owned by Direct Factory Outlet in Australia, according to two people familiar with the matter.

CFS Retail expects to complete the capital raising today, according to one of the people, who declined to be identified because the details aren’t public.

The real estate trust that invests in Australian shopping centres is interested in buying DFO shopping malls in Homebush in Sydney’s west, in South Wharf in Melbourne’s Docklands and two others in Victoria state, with a total value of about A$600 million, the Australian Financial Review reported yesterday.

Malvina Zayats, a spokeswoman at Colonial First State Property Retail Pty, which manages CFS Retail, declined to comment.

The raising will proceed regardless of the outcome of CFS Retail’s attempt to acquire the DFO shopping centres, one of the people said. Melbourne-based Austexx Pty Ltd., DFO’s parent, is trying to sell DFO’s A$1.5 billion of shopping outlets and has agreed to refinance A$1 billion of debt to avoid going into administration, the Financial Review reported on Aug. 20.

The purchase by Sydney-based CFS Retail looks about 70 percent likely, the person said.

CFS Retail aims to announce the result of the talks with Austexx by the time their shares, which were halted yesterday, begin trading today. The outcome may be delayed until next week, according to the person.

To contact the reporter on this story: Nichola Saminather in Sydney at Nsaminather1@bloomberg.net

Real estate sales in Australia jumped by 11 per cent during August, official figures reveal.

The property market in the country received a boost as homebuyer confidence strengthened and first-time buyers returned to the market.

With the Reserve Bank keeping official interest rates on hold, property sales across the nation were 10.9 per cent higher than in July, the figures from the Australian Finance Group (AFG) show.

According to the figures, greater competition between lenders on price and policy combined with increasing loan-to-value ratios are also proving beneficial to property investors.

"With property prices in many areas having stabilised, and some lenders prepared to lend up to 95 per cent of the property’s value, property is becoming more accessible to first home buyers and more attractive to investors," he explained.

Indeed, investor activity varied across the states, with New South Wales and Victoria topping the market.

In New South Wales almost 37 per cent of all mortgages sold were to investors, while in Victoria they accounted for 36.4 per cent of the total sales volume.

However, investor confidence in Queensland and Western Australia remained low, largely due to the uncertainty over a possible mining super tax.

Source: www.ipinglobal.com

With social media infiltrating our lives on every front, and considering the unprecedented uptake on the web, we, at Lois Buckett Real Estate, have joined the band wagon with our own profile on Facebook.

We are keen to get this medium up and running and invite you all to join us on Facebook.

Simply give us the “thumbs up” on the “Find us on Facebook” situated on the right hand side of this blog.

Looking forward to having you with us.

Lois Buckett Negotiating with a Phone Bidder

A recent article in The Age stated

“Real Estate is no longer a man’s world as more women forge successful careers for themselves in this lucrative industry.

To say that women are a force in real estate is a glaring understatement; they have grown in numbers and are increasingly excelling in every area of the industry from property management to sales, auctioneering and investment advising.
Perhaps one reason for their success is the fact that women are also an increasing power in terms of home buying and property investment in their own right.  Studies show that 18 per cent of women buy property by themselves in Australia.”

This article was particularly interesting to me as an independent Real Estate Agent of the fairer sex and having jumped many a hurdle to attain the level of success and recognition that Lois Buckett Real Estate now represents.

Over the past 6-7 years the office in Lennox Head has been predominantly supported by female co-workers whilst expanding and growing rapidly.  Although the rental, sales and auction markets have fluctuated constantly over the years coastal and hinterland real estate has experienced huge growth over the past decade.

With a sister office opened in Bangalow and a majority of female staff at Lois Buckett Real Estate we have the area well and truly covered.

I personally feel that having women on the team is tremendous.

Generally speaking women have an ability to work methodically, are able to multi-task and easily build relationships with people in all facets of the industry.

From the female perspective, a profession in real estate can offer flexibility and opportunity and a chance to meet people and develop good communication skills in a positive environment.

Having said all this, a few of the male species have now infiltrated the office and this adds a new dimension to the equation!  What I look for in an employee is someone who is passionate about real estate, is truthful and forthright and enjoys working in a team environment.

I’m happy to say that gender is not a governing factor.

The Australian Real Estate Conference (AREC) is scheduled for 16-18 May 2010 at the Sydney Convention and Exhibition Centre.
“Over 2,000 industry professionals attend AREC each year – no other real estate event in the world attracts such a large percentage of the total industry population.  Now in its 13th year, AREC is THE biggest independent real estate conference and trade exhibition in our region.”

This is an excerpt from the AREC guide and I thought it prudent to post this blog.
I have personally attended the past 10 Conferences and am always impressed with the level of information and updates constantly available.
The ability to net-work within the industry is an added bonus to an already worthwhile event.

Peter Kakos in Action

Auction 1st May

Our previous mega auction held in February proved a huge success and resulted in property sales in excess of $13,000,000.

The next MEGA AUCTION date is set for Saturday 1 May 2010 at 9am with registration for bidders starting at 8.30am.

With so much activity in the property and real estate market place and predictions of huge growth factors in our beautiful area we are, once again, anticipating a successful auction across the board.

We are thrilled to have Peter Kakos as our on-site auctioneer as we all are aware of his amazing talent and dedication to the real estate industry.  The event will be held at the Ballina Beach Resort, Compton Drive, Ballina.

This auction is proudly marketed by Lois Buckett Real Estate.

We are offering a huge range of property, land, homes, units and rural acreage in sought after areas of Lennox Head, Ballina, Bangalow, Cumbalum, Clunes and Knockrow.

Our Autumn Edition of the Coastal & Hinterland Property Guide has just hit the streets. 

This is jam-packed with details on all our auction properties and a whole lot more.

Look out for this up to the minute publication in your letterbox or in this week’s issue of the Byron Bay Echo.   For More Information Visit Any One of These Properties on our Website Lois Buckett real Estate.

Hope to see you there!!

RESULTS:

It was a very successful day with 2 properties selling under the hammer and 1 sold prior to auction day.

Our sales staff are busy negotiating with several other interested parties and are close to finalising the sale of 5 excellent properties off our Auction List.

Watch out for the next Mega Auction in June 2010!!!!!!

RP Data and the Bureau of Statistics have recently released results from surveys indicating that people upgrading remain the largest buyer group.

Although there have been minor increases in investor and downsizer activity the “upgraders” are leading the field.

According to the ABS Housing Mobility survey a huge 45% of Australian home owners consider their homes to be too small.  This survey was conducted when interest rates were almost double what they are today.  At that time, the thought of upgrading came with significant financial drawbacks.  However, with interest rates sitting so low, it’s not surprising to see this trend.

With news headlines in December heralding that Australia now leads the world for the largest properties per capita it seems that we all want so much more.

New housing estates boast enormous homes with “parent’s retreats”, several living areas, outdoor living space and a whole lot more – do we really need it ALL?

My advice to prospective purchasers looking for the right real estate solution is:
• prepare a checklist of your requirements
• prioritise the most important points
• mark items that you are not prepared to negotiate on
• consider options that may be negotiable
• set yourself a realistic price maximum
• research – research –research – the best way to find out what’s on the market is to keep in touch with the local agent

Lois Buckett

Lois Buckett Real Estate based in Lennox Head and Bangalow specialises in meeting your real estate needs throughout the region.

With every real estate agent claiming to be the best it can be hard to judge just who to choose. Scratch the surface however and you’ll discover dramatic differences in the way agencies operate and the results they achieve. So how is Lois Buckett Real Estate any different?

Let us let you in on a few secrets.

1. We aim for a great result, not just a fast one

At Lois Buckett Real Estate our focus is always to deliver the best possible sales price. We will never leave you wondering, “Could I have done better?”

2. We don’t rely on reputation to sell your property

If you want great results you need an agent dedicated to achieving them. Lois Buckett Real Estate’s experienced sales agents are backed of a dedicated marketing and support team, all working together to bring you more buyers and a bigger sales price.

3. We offer true auction expertise

Many agents make claims about their auction success, yet few come close to matching the results achieved by Lois Buckett Real Estate. Come the big day our experience can mean a big difference in the price achieved.

4. We are working to be even better

A great performer always looks to improve. As part of the Real Estate Results Network, we are working to further develop the skills of our team and implement strategies to deliver you the very best in service and results.

For an optimum experience in Real Estate in Lennox Head, Bangalow, Ballina, Byron Bay and the Hinterland why not call on one of the experienced staff at Lois Buckett Real Estate.