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Thursday 28 March 2013

A history of helping for a future of new beginnings

It was Sunday, May 21, in 1972 that His Excellency, the Governor, Sir Douglas Kendrew, addressed 200 guests at a gala occasion for the opening of two new wings at St Bartholomew’s Anglican Home. “When I first came to St Bartholomew’s… this was just a shelter. It has become a home,” His Excellency said.

Government Minister for Community Welfare, Mr Willessee, said: “Money and new buildings alone do not create a home…Money can’t buy it, that incomparable gift given to men.” As the Minister recognised, the importance of having a home – not just a house - for a person’s well being is ‘incomparable’. Chaplain and Director of St Bartholomew’s, Reverend Peter Hodge,described St Bartholomew’s philosophy in a single sentence: “If I cannot love the brother I can see, how then can I love the God whom I cannot see.”It is this core belief that has distinguished St Bartholomew’s House,or St Bart’s as it is now known, from other homeless shelters.
Today, St Bart’s is not only the ‘Home for Men’ it once was but a place of hope for anyone in need. The services St Bart’s now offer include: Crisis Units, Transitional Accommodation, Aged Care, Mental Health and Independent Living. In addition, the organisation offers comprehensive support programs around the services that aim to stop the cycle of homelessness. Adopting a sustainable approach, St Bart’s provides some of Perth’s most vulnerable people with the essential support they need to rebuild their lives, breaking the cycle of homelessness and reconnecting them with the community.
In 2013 St Bart’s will mark a historical milestone: 50 years of helping thousands of homeless Western Australians turn their lives around. Over these five decades, St Bart’s has witnessed the changing face of homelessness in Perth.
The new face of homelessness includes single parent families, single older women (over 55) and those on low incomes who are unable to access affordable housing due to Perth’s soaring rent prices and rental accommodation shortages.
“Here at St Bart’s we’re witnessing a ‘changing face of homelessness’, fielding cries for help from growing numbers of low income earners and people on pensions who are unable to afford the rent.” said Andrew Hogan, the current CEO.
St Bart’s assist more than 1,200 people each year. With over 14,000 homeless people in WA alone, St Bart’s requires much needed sponsorship and donations to increase their services and capacity as they heartbreakingly have to turn away numerous women, men and families each night.
This year, St Bart’s focus is on shedding light on the ‘hidden’ homeless with the ultimate goal of eliminating homelessness in Western Australia.


This article is from the latest St. Bart's House newsletter. For more information on St. Bart's House, and what you can do to help, please visit their website.

"RBA announcement - Cash Rate forecasted to remain unchanged"

Here's a short one for you guys. I received this one in an email from Rates Direct.

"In view of recent economic data 28 analysts surveyed by Bloomberg News last week - forecast that the cash rate will remain unchanged at 3.00% for the third straight month in Tuesdays RBA meeting. The data shows the RBA's 1.75 percentage points of cash rate cuts in the past 17 months are rebalancing an economy where mining regions in the north and west have thrived, while builders and manufacturers in the south and east struggled.
"The RBa has taken the view that the easing they've done so far has yet to work its way into the economy,: said Gareth Berry, a currency strategist at UBS AG in Singapore. "If they do cut at all this year, it's not going to be immediate."

Thursday 21 March 2013

"Banks to pay less for home loan cash"

"THE prospect of the big banks cutting mortgage rates out-of-cycle in the coming months has been heightened after the Reserve Bank said global funding pressures were easing, making it cheaper for banks to raise funds. 
 
The RBA yesterday said there was scope to cut the official cash rate further if needed but is confident the economy is already responding to its recent cycle of cuts.
And in a surprise move, RBA deputy governor Philip Lowe said the high Australian dollar has also been a positive for the whole economy as it has stopped overheating and kept interest rates low.
Overall, the central bank is upbeat the Australian economy is in a good spot despite the more cautious approach of the household sector, which has also seen national savings levels jump $90 billion more a year than in the mid-2000s, hurting retailers.
After leaving rates on hold at 3 per cent for the second consecutive month, the RBA's minutes for the March meeting said the housing sector was picking up, retail conditions had improved and unemployment was subdued, pointing to below trend GDP growth in 2013 before a pick-up in 2014.
"But funding conditions for banks remained as favourable as they have been for some months,'' the RBA said.
The futures market is showing only a 15 per cent chance of a rate cut next month but has fully priced in one more RBA reduction to 2.75 per cent in this cycle for October.
Analysts said after nearly two years of downward movement fixed interest rate home loans may have bottomed out."

 This article was written by Stephen McMahon and was sourced from Perth Now

Wednesday 13 March 2013

"World's wealthy are targeting Australia"

This latest article comes from the March 7th Financial Review, and was written by Tim Binsted.

"The number of people world wide with assets of $S30 million or more increased by 5 per cent, or 8700 in 2012, and will increase by another 50 over cent over the coming decade, according to Knight Frank's annual global Wealth Report.
The fastest growth in wealth creation in the next 10 years will be in Asia and Latin America, although London and New York, the top two destinations for high net worth individuals (HNWIs) in 2012, are forecast to remain in pole position until 2023.
In a sign that Australia is well-positioned to attract investment from global HNWIs, Sydney cracked the top 10 cities that matter most to HNWIs, coming in at seventh, while Melbourne ranked 22nd. Melbourne and Sydney also came in at No. 2 and No. 3 respectively for quality of life.
"High net worth individuals, particularly from Asia, favour destinations with adequate liquidity and transparency, and an existing Asian population. The puts Australian cities high on the list alongside London and New York," night Frank Australia's executive chairmanm Stephen Ellis said.
Mr ellise pointed to recent transactions like the sale of 460 Bourke Street and 370 Docklands Drive in Melbourne, as well as 10 Barrack  Street and 80 Alfred Street in Sydney, as examples of top-end purchases by Asian investors.
In an attempt to harness investment from wealthy foreigners, Australia's Significant Investor Visa, which fast-tracks residency for foreigners who spend $5 million or more in complying investments, came into force last November.
Local real estate agents say that the anticipated surge in luxury property sales as a result of the visa's introduction is already gaining momentum, while the Knight Frank report showed that online Australian property searches rose by 36 per cent from 2011 to 2012.
That growing interest should help Sydney's luxury market keep its premium validations. Sydney came in as the world's 9th most expensive prime residential property market, with prices averaging $US21,700-$S24,000 per square metre on the fourth quarter 2012.
"Wealth creation has not been dented by the global economy slowing, nor has this affected the demand for prime property as the search for safe-haven investments has continued," Knight Frank head of global residential research Liam Bailey said.
The report's survey of wealth advisers and private bankers also found an increasing interest in commercial property. More than 30 per cent of respondents said their clients planned to invest more in Australasian commercial property.
The number of HNWIs across the key Asian region is expected to rise by 88 per cent over the next decade, with an estimated 82,300 HNWIs in Asia with a combined wealth of $US12.6 trillion by 2022.

Rank    City                 4Q 2012
1           Monaco          57,600 - 63,700
2           Hong Kong    49,200 - 54,400
3           London          41,900 - 46,300
4           Geneva          29,300 - 32,400
5           Paris              25,300 - 28,000
6           Singapore      25,200 - 27,800
7           Moscow        22,000 - 24,300
8           New York      21,800 - 24,100
9           Sydney          21,700 - 24,000
10         Shanghai       19,600 - 21-700"