Nationally home values have shed another 1%, down for the seventh straight month although the decline has slowed markedly from previous months.
Tim Lawless from CoreLogic says that the slowing rate of decline is due to a few factors.
“Potentially we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls. However, it’s fair to say housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched,” he says.
Looking forward to 2023, Lawless says that all eyes will be on the length of the RBA’s rate tightening cycle and the impact on serviceability of people whose record low fixed interest rates expired.
As always. Watch this space.
Can we get back to a normal 2023?
They say that economists make predictions to make astrologers look credible and hasn’t that been true during Covid?
News of a transmissible virus started to leak out of China in early 2020 and by March Australian’s were plunged into a lockdown that extended on and off until late 2021 and lesser variants threatened to disrupt the economic recovery. Property bears predicted a 20% drop in property prices, but the great Australian dream bucked every prediction to put on 25% in the other direction.
On the 1 April 2020, the ABC headline predicted “National house prices hold up in March, but it’s just a matter of time before coronavirus reduces property gains” with CoreLogic’s Tim Lawless calling it ‘unprecedented uncertainty’ and AMP’s Shane Oliver predicting that unemployment would double to 10%. The Guardian predicted a 20% drop in prices. How wrong they were.
There is no doubt the last two and a half years have thrown up all sorts of doozies. Who would have thought that our bingo cards would feature fires, floods, plague and more floods? While Bartlett and Co. is calling for a more normal 2023 – we’d be silly to make predictions. But let’s hope.
Indoor plants aren’t only used to give your house a pop of colour and add a fresh feel to your home, they are actually quite beneficial for your health.
NASA’s Clean Air Study found the following plants are most effective at removing pollutants such as benzene, formaldehyde and ammonia from the air – chemicals which have been linked to health effects such as headaches, irritations and allergies.
Devils Ivy, Boston Fern, Peace Lily, Bamboo Palm, Snake Plant, Flamingo Lily.
While these plants are best placed in the bedroom as they purify the air while you sleep, there’s no harm putting them in every room of the house!
Happy plant shopping.
Coming up in the ‘Gong at WIN entertainment centre
Summer is here now and Christmas will be here quicker than we can say, ‘Where did the year go?’ City Beach is abuzz with walkers, pram pushers, cyclists and early morning fitnesspreneurs putting their clients through their paces.
On the entertainment front it’s a big few months at WIN Entertainment Centre. We kick off with Keith Urban who will be bringing his own brand of stadium country rock on the 8 December to WIN entertainment centre, followed by The Offspring and Sum 41 on the 9th. On the 14th December we have everyone’s Christmas favourite live on stage with Love Actually.
And of course, our beloved Illawarra Hawks will be back with games on December 5 against Melbourne, December 16 against Sydney Kings and New Years Eve welcomes the Perth Wildcats.
Socceroos get through to the Round of 16
Bartlett and Co. would like to congratulate the Socceroos on getting through to the round of 16 at the World Cup in Qatar. And although they went down gallantly against Argentina 2-1 on Sunday morning, thanks to Lionel Messi’s boot, they nevertheless managed to get into the next round for the first time since 2006.
Hot on the heels of the UCI World Champs, Wollongong sports fans once again showed up in droves around the various places in the city for late nights and early mornings. Wollongong’s Globe Lane in Wollongong and Fairy Meadow’s Fraternity Club led the charge with late nights, early morning drinks and bacon and eggs.
Does anything bring us together like sport?