"'Financial confidence' edges back"

Hi Followers

I read this today and thought I'd share it with you:

Australians are becoming more confident about their financial stability, new research has revealed.

According to the latest ING DIRECT Financial Wellbeing Index, 28 per cent of Australians are prepared to start spending over the festive season, following a period of frugality and personal debt reduction.

In addition, 59 per cent of households are now saying they are comfortable with mortgage debt.

After bottoming in Q1 of 2011, financial confidence has risen to 105.9 2011 from 104.8 this time last year.

ING DIRECT chief executive Don Koch said the results prove Australians are becoming more confident and comfortable with the current interest rate environment and future outlook.

“Despite a volatile quarter in financial markets, Australian households are proving their resilience as they get debt under control and build a strong savings base,” he said.

“Australians have worked hard to improve their financial position over the past two years. We now have a very clear perspective of what’s happening in terms of financial confidence, and households clearly feel better about reduced credit card debt and increased personal savings. Overall, many households are well-placed financially.”

This information was sourced from:
http://rebonline.com.au/breaking-news/4333-financial-confidence-edges-back

DEB BRADY
0405 570 903

UNDER OFFER!!!

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For information please feel free to contact Deb Brady anytime.

DEB BRADY
0405 570 903

COMING THIS WEEK!!!

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Coming up this week....

• Family Home in North Fremantle
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DEB BRADY
0405 570 903

"Perth rents heat up"

Hi Followers

I came across this article that I thought was a good read for investor's:

As Perth house sales rise by only one per cent for the September quarter, and villas and townhouses experience a seven per cent drop, more individuals are turning to renting which means rising rents for landlords, according to the Real Estate Institute of Western Australia (REIWA).

Despite an increasing supply of ‘for sale’ stock being passed in to the Perth rental market, the strengthening rental demand has more than absorbed the surge, as overall properties available for lease plunge by 20 per cent for the September quarter, said the REIWA.

The plunging rental vacancy rate from 3.4 per cent in the June quarter to 2.8 per cent in the September quarter is an indication that more individuals are choosing to rent than own, resulting in stronger rental returns for landlords at an increased rate of four per cent or $15 per week on the average rent, said REIWA president David Airey.

This average rent increase  – the first mid-year rent rise since 2008 – nudges the annual increase to 6.8 per cent, he said.

However some areas in Perth have performed better than others.

The highest recorded average rent increase of eight per cent has been witnessed in the City of Melville due to strong multi-residential leases, while the City of Cockburn was up by five per cent to $400 and the City of Vincent/SE City of Stirling was up by five per cent to $405.

No increase was evident in the Cities of Swan, Rockingham-Kwinana, Belmont, Canning, or the southern areas of City of Joondalup due to what Airey said might be the “mix of property available for lease”.

“Both the overall median house and multi-residential rents increased by $10 per week for the quarter, taking the median house rent to $400 per week and the median unit rent to $380 per week,” he said.

This information was gathered from:
http://apimagazine.com.au/api-online/news/2011/10/perth-rents-heat-up

DEB BRADY
0405 570 903