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| January 2010 | | Print | |
From the President I would like to take this opportunity to say that on behalf of the Real Estate Buyer's Agents Association of Australia, I hope you all had a good Christmas and wish you all the best for the New Year in 2010.2009 seems to have been a mixed year for all of us as we strove to grapple with the challenges of the global financial crisis and record low interest rates. I hope that business has exceeded your expectations and would be happy to receive feedback from you how your business weathered the year in review. 2009 has been a good year for the association – membership has continued to increase and we look forward to this continuing in 2010 as our profile grows and with many increased benefits for members that we will let you know more about during the year. The Executive has met regularly and discussed a range of issues, particularly with regards guidelines for role responsibilities for each of the Executive Committee members and State Representatives which will be circulated prior to the 2010 AGM. As our association grows and in order to facilitate the development of a set of benchmarks to guide the industry in professional standards, the Executive has identified the need for new roles to be developed in the areas of Personal Development and Education, Legal and Legislation, Public Relations and Applications Processing. In the lead-up to the AGM, I would like to encourage members to look inward and consider your commitment to helping shape the future of the industry as we make 2010 a year for working together. Until next month. Byron Rose REBAA President Media WatchLast week REBAA President Byron Rose was quoted in an article published in The Daily Telegraph on the increasing trend of ‘off-market’ sales. VIEW ARTICLE
Housing Recovery – Is It Sustainable?
HIA Chief Economist, Dr Harley Dale said that while 2009/10 would be a healthier year for new residential construction, there were question marks over the sustainability of the up-cycle. “First home buyer-related activity, the Social Housing Initiative, and the lagged impact of very low mortgage rates will combine to generate growth in new residential work done in 2009/10,” Harley Dale said. “It remains unclear, however, whether the recovery can gather legs beyond this year in the face of persistent supply side obstacles, rising interest rates, and what to date is an insufficient number of upgrade buyers and investors to fill the void left by first time buyers. Seasonally adjusted work done on new residential dwellings increased by 2.8 per cent in the September 2009 quarter to an annualised worth of $36.3 billion. This was 3.9 per cent down on the September 2008 quarter and over 9 per cent lower than the previous cyclical peak seen back in early 2004. Work done on detached houses increased by 6.5 per cent over the September 2009 quarter but work done on „other residential building‟ dropped by 5.5 per cent. Seasonally adjusted new residential work commenced in the September 2009 quarter increased by 5.8 per cent, the first rise since mid 2008. “There was brighter news on the renovations front in the September 2009 quarter with the volume of work done on major alterations and additions increasing by 3.9 per cent following four consecutive quarters of decline. “The renovations sector should continue to recover after a soft 2008/09 as labour market conditions improve further and gains in home prices bolster confidence,” said Harley Dale. In the September 2009 quarter seasonally adjusted new residential work done increased in every state and territory with the exception of Western Australia. New residential work done increased by 6 per cent in Queensland, 4.5 per cent in the Australian Capital Territory, 3 per cent in Victoria, 2.9 per cent in the Northern Territory, 2.8 per cent in New South Wales, 0.3 per cent in South Australia, and 0.2 per cent in Tasmania. New residential work done fell by 1.2 per cent in Western Australia. New Member Joins REBAAREBAA’s membership base continues to expand with Metropole joining Australia’s leading body representing professional buyer's agents this month.
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