Richardson & Wrench Lindfield

It’s all about textures!

Melanie Patterson — Fri, 13 Jan 2012 23:37:52 +0000

	By Lena Corwin. Throws are a simple and effective way of adding vibrance into a living room, as well as adding the “cosy” dimension
	By Lena Corwin. The modernist bed lamp mixed with the wooden bed head and tonal bed covers creates a clean feel to the bedroom. With natural light pouring into the room, it will help the room feel fresh!
	By Lena Corwin. Natural wood, painted wood, floorboards mixed with the colourful plastic chairs (that I have sourced from Matt Blatt) also creates a modern tone. Adding different elements of textures and patterns will set a personal dimension to your room.
	Lena Corwin. From a far, the natural light fills the room which does not become too overbearing due to the natural tones in the wood.
	By Lena Corwin. The white tones in the room help add the feeling of overwhelming light to a room, paired with a light toned wood frame and organic elements in a room.
	By Lena Corwin. Mixing colours, textures and patterns can be fun and add vibrance especially to a kids bedroom! The light that fills the room, combined with the floorboards help open up the room to make it feel less crowded, leaving more play with patterns and textures…
	By Lena Corwin. Keeping all tones neutral with beiges add an organic mood to a room plus the element of cosiness. Raspberry red tones also create this mood…
	By Lena Corwin. Why not add a bit of personality through ornaments and vases?
	By Lena Corwin. Mixing tonal patterns always adds another element of festivities and formalities to the table… literally.
	Lena Corwin. This may sound a little silly, but I’ve always found organic cups very chic… Complete your dinner set with an assortment of organic plates, bowls and platters.. But then again the odd one here and there is always appealing too.
	By The Selby. Jars are a great way to create a sense of order in your cupboard or even out on display to show off your passion for cooking and baking!
	By The Selby. The differing textures in this photo all come together… The leather, wood and glass all with neutral tones make the room so much more appealing and interesting… Mirrors are a great way to make a room feel bigger, so place them to reflect a window that is filled with natural light or scenery.
	The Selby. There’s something soothing about the combination of food, beautiful flowers and wine… The Selby. Love the contrasting paintings!

Welcoming in 2012

Richard Patterson — Tue, 03 Jan 2012 02:46:47 +0000

Happy New Year to all … I hope everyone has enjoyed their festivities & enjoyed some “time” to sit back & do whatever it is that they enjoy.

2011 on all accounts, has seen some strong sales & rentals, with the top end price range, in both areenas, seeing longer days on the market with a few adjustments needed to put the deals together.

Selling & leasing real estate, in this sought after area of Lindfield, Roseville & Killara, is always an honour for my team & I and we don’t deny we are very spoilt in this part of Sydney when it comes to desirability.

Over the past year, like everyone else, I have read so much information on the economy & how it pertains to the selling & purchasing of property – the reader is left hanging at the end as no two articles or opinions are the same. Of course we are charting unknown territory when it comes to the affect of the European economy … let’s not forget however, we have previously encounted many different obsticles that do have a roll on affect to the property market.

News of interest rate cuts will certainly, I believe, give more clarity when it comes to decision making at this level. Confidence is the key.

I can say with my years in the industry, if common sense prevails … the owner wants to sell & the purchaser has the means to purchase … the property … with a little give & take from both sides occurs the deal is done in all climates.

The best piece of advice I can give anyone is to buy & sell on the same market . All the best for a great 2012.

For some great reading … enjoy

http://www.propertyobserver.com.au/residential/home-prices-up-but-aussies-refuse-to-borrow-christopher-joye/2012010252948

http://www.propertyobserver.com.au/residential/ten-fundamental-reasons-why-prices-wont-crash-in-2012-academic/2011122352947

until next time

Richard

Interiors to entice

admin — Wed, 02 Nov 2011 08:47:02 +0000

	Sunshine and a neutral colour palette is always a winner in any part of your home but, in particular a kitchen where we all spend so much time together…or simply all alone preparing something delicious for you family and friends…..a good kitchen in neutral colours, great bench space and here I must say I love the glass fronted cupboards…its like bookshelves in a sitting room it ads a warmth and interest to a space that can often be cold.
	Wondering what to do with all those really pretty jam and chutney jars you have in the cupboard…I know the plan is to make your own jams, relishes and chutneys, but until you get around to this what about picking assorted flowers or herbs and having a pretty collection to bring pleasure to all who see. I also love to see multiples of the same flowers….if you are passing our office in Lindfield (next to ciao down) you will often see that I have a collection of beautiful things in our office to be enjoyed by those on the inside and those passing…. it’s our home away from home and loving interiors the way I do I like to be surrounded by things that please the eye…… helps our environment be a warm, and friendly space to do great things on all things to do with property.
	A variation on the same theme…. you know it is not about going to a florist and buying a large bunch of flowers….. a touch here and there adds interest, warmth and a great eye for design on making a space appeal, easy to do and not the least bit expensive….. a reflection of thought
	Ok I know… but things in threes…..simple yes?
	Creating a mood, showing your gorgeous collectables, your love of cooking, your personality so to speak…wouldn’t it be terrible if we all embraced beige
	A cutlery drawer to die for
	A colour to embrace “turquoise” I love it! Perfect colour to use as a punctuation throughout the home especially in the warmer months
	Great colour…..what flavour?
	A statement outdoors this would look so fabulous poolside on a wall…certainly not beige
	A more discreet way to introduce this great colour
	May not be turquoise but certainly a touch of summer…shells place together as a story in the home look just beautiful
	An eclectic mix of retro creates a strong personality in the room grouped together to make the statement stronger
	Tres provincial and so gorgeous who doesn’t want to walk through that door….whatever your front door looks like I always think its a great idea to make it one that begs you to come inside and see the beautiful space behind.
	A great workspace… if you are someone who works from home, whether it is a school project you are working on. or emailing friends/clients, organising a get together, planning your next holiday or that everyday day chore none of us can escape in paying your bills, how easy is it to create something like this to make it all the more pleasuarable. Time and imagination is all that is stopping all of us from making a space like this to sit at and work: be it a small desk in a corner of the room or a designated study make it truly unique to reflect your dreams and passions in life….. cosy haven to retreat for whatever the reason.
	A perfect place for us to escape
	This space whilst seems minimalist on a closer look shows so many treasures…the “come closer and see” artistic display behind the desk, headphones, stacked storage unit a dock and a laptop…what else do you need….fabulous
	Happy Melbourne Cup
	Now this is a drink for a celebration…..good luck!

Reserve Bank cuts by 0.25 per cent

Richard Patterson — Tue, 01 Nov 2011 05:26:46 +0000

The Reserve Bank has cut interest rates by 0.25 per cent. The 25 basis point fall is the first movement in rates since Melbourne Cup Day 2010 and has been widely tipped since lower-than-expected inflation figures were released last week.

The 25 basis point reduction is good news for people paying off a mortgage.

“This fall in rates will be greatly appreciated by households as it will put an extra $60 into their pockets each month,” says Domain property expert Carolyn Boyd.

The official interest rate is now 4.5 per cent. Until today, mortgage holders on variable interest rates were being charged a standard variable rate of about 7.83 per cent by their lenders.

Each 0.25 per cent drop in interest rates slices about $60 off the monthly interest cost of an average Australian mortgage.

Boyd says it’s a good idea for mortgage holders to keep paying their loans at the same rate they have been for the last year, and not take advantage of the opportunity to decrease their repayments.

“You’ll still get any rate cut your lender passes on, of course, but if you keep your repayments at the same level, you will pay your loan off sooner and build a buffer for any unexpected rough spots.”

Today’s rate cut will provide a welcome boost to the property market, which has slowed in the last year and remains subdued in most parts of Australia. It could also improve the confidence of potential first home buyers.

until next time

Richard

Styling ideas for your home

Melanie Patterson — Fri, 28 Oct 2011 01:56:28 +0000

source:Martha Stewart

What a gorgeous kitchen this would be to cook in!

Imagine Christmas morning surrounded by your team.

A great colour palette with lots of windows to give light and beautiful vistas. Lots of bench space piled with delicious food

Cooking here would be too easy …. look at all the hanging pots open shelving and I love the island bench…is that on casters?

A great urban kitchen and chic with a real twist of an artisitic eye creates interest for those looking for a simple yet sophisticated look.

Details such as the little bird, stacking boxes and a collection of eclectic goodies makes one feel they have entered a space with intimacy and adds appeal for those looking for a home which offer a personalilty and a unique flavour.

Property Sales Market 2011

Richard Patterson — Tue, 11 Oct 2011 06:14:37 +0000

LINDFIELD
– 2070

• Number of houses sold last week – 4

• Number of houses sold this week – 1

• Number of apartments sold last week – 1

• Number of apartments sold this week – 0
ROSEVILLE
– 2069

• Number of houses sold last week – 2

• Number of houses sold this week – 2

• Number of apartments sold last week – 0

• Number of apartments sold this week – 0

KILLARA
- 2071

• Number of houses sold last week – 2

• Number of houses sold this week – 3

• Number of apartments sold last week – 2

• Number of apartments sold this week – 0

As we are so tightly aligned with the stock market in our area, buyers
this year have been hesitant to be pro-active purchasing property. The past few weeks however, have shown

that some decisions are being made and it is good to see the “sold” stickers going onto our local properties again.

I am happy to report that one of our properties, 23 Gladstone Parade Lindfield had a great outcome and achieved

over $200,000 above the written reserve. Three buyers registered, three buyers bid aggressively and after 16
bids the property sold under the hammer, this set a new street record in Gladstone Parade.

In fact over the years, there have always been benchmark properties that we reflect on, as the property that
marked the change of the mood within the buying group. Perhaps this will be the property that marks a change

in the current market.

Certainly, the Spring stock levels are down on previous years which may automatically help make buyers more

pro-active in securing properties prior to the Christmas selling period. We see this as a great opportunity for those

of you thinking of selling to come onto the market and benefit.

On a lighter note …

http://www.youtube.com/watch?v=xasG_9Dbt6I

After watching the determination of the Wallabies yesterday I was inspired by their tenacious attitude and like

many will have a busy week ahead combining work and the World Cup…..let’s hope we can do it again against

the All Blacks!

Go the Wallabies!!!

until next time

Richard

Interest rates hold

Richard Patterson — Tue, 02 Aug 2011 06:09:03 +0000

It’s good news for mortgage holders today – the Reserve Bank has opted to keep rates on hold at 4.75 per cent for another month.

The move comes on the back of recent comments by the Governor of the Reserve Bank that consumers had become cautious and were spending less and saving more.

“Whether we were going to get a rate rise was a bit touch and go this month,” says Domain.com.au property expert Carolyn Boyd. “On one hand inflation came in higher than expected last week, but on the other there’s still plenty of uncertainty in the global economy and locally, retailers are complaining of very tough conditions.”

Looking over the next year, it is difficult to tell where rates are headed with economists divided about whether they will head up, or down, or remain stable.

But Boyd says for mortgage holders, it’s always safer to err on the side of caution and assume that rates could go up. “With that thinking in place, it’s a good idea to pay a bit extra off your mortgage if you can,” she says.

Each 0.25 per cent interest rate rise adds another $60 to the monthly cost of an average Australian mortgage.

source: domain

” A Mark Bouris report”

Richard Patterson — Mon, 18 Jul 2011 06:05:47 +0000

Slashing rates could prevent an economic disaster

By Mark Bouris
Monday, 18 July 2011

A few months ago I started a public awareness campaign, which we called “The RBA Appeal”, in an attempt to draw the RBA’s attention to the underlying softness in the Australian economy, which could be exacerbated by risks offshore.

It appears that the economists are starting to listen: Westpac’s Bill Evans has done a 180-degree turn from predicting rate hikes to now forecasting four rate cuts.

When you accept the historically low consumer and business confidence estimates reported by the Westpac-Melbourne Institute and NAB surveys, the dismal performance of retailers like David Jones, the striking decline in employment growth, the slide in house prices, and the relentless downgrades of economic growth forecasts from various bank economists, you start to appreciate the pain that pervades the real economy, not the “official” economy that the Reserve Bank theorises about.

The Reserve Bank tells us that wages are growing, which is one rationale for a cycle of rate rises. However, these figures mean little in the suburbs, where the only thing growing is electricity charges, grocery bills, fuel prices and flood levies. Meanwhile, waiting in the shadows is a carbon tax that no one understands except for the fact that it’s another hand in their pockets.

Several weeks ago, I observed that even though the Reserve Bank had raised interest rates seven times in 18 months – and seemed committed to more rate hikes – the bond futures market, which tends to lead equities, was pricing in a full rate cut by January 2012.

I assumed this indicated the Reserve Bank would be pushed to change course by a sudden “sovereign event”, such as a government going broke, defaulting on its debts, or behaving in a way that moves markets, like declaring war.

What a difference two weeks can make: Greece and Italy are now clear contenders for a default-and-bailout scenario that will hit the global credit markets harder than the Lehman Brothers collapse in 2008.

When Lehman Brothers – Wall Street’s fourth-largest investment bank – sought bankruptcy in September 2008, Barclays and Nomura bought out its books. It was as orderly as could be expected, yet it still triggered the global financial crisis.

If a western European nation goes bust, the shock waves could hit Australia much harder; we’ll see credit freezes, lenders going out of business, and a bear market that could take years to recover. The mining industry might sail through untouched, but it only employs 2% of our workers. The other 98% of employers, and small business in particular, will bear the brunt of the turmoil.

The United States is caught in its own sovereign event: a president who wants to raise the national debt ceiling to honour its borrowings, and a Congress that wants to cut government spending to remain beneath the debt ceiling.

And while the fears of a sovereign event create the headlines, there are deeper structural problems in Australia that have already sapped confidence.

One is the “two-speed economy”. It has become fashionable for economists and media commentators to scoff at this idea, but when the derision ends the question remains: how do you judge an entire economy on the extraordinary success of the narrow mining industry? Bloomberg News put it most succinctly a few months ago when it found a 24-year-old mining rigger in Western Australia earning more than the chairman of the Federal Reserve, Ben Bernanke.

A second issue is that Australia is supposed to run on monetary policy where the cost of money controls inflation. But governments still have fiscal programs, such as the first-home owner grants and the Building the Education Revolution scheme. These are inflationary because they pump cash into the system, which the Reserve Bank has to control with rate rises. Our current rate rise cycle started as the Rudd government’s fiscal stimulus package kicked in.

The problem is that the Reserve doesn’t have the capacity to respond to – or ignore – specific causes of inflation. It can’t differentiate between wages growth in industries, or between sources of fiscal stimulus; it can only raise, lower or hold interest rates based on official inflation indices.

But that doesn’t help hardworking Australians. I talk to a lot of business owners, and I can’t recall a time when there has been so much confusion. In the early 1990s, when unemployment was high and banks wouldn’t lend to small businesses, the landscape was very clear. The pain was spread evenly.

Today, business owners are confused: how can interest rates be rising when the economy they operate in is so flat?

Unlike the low-confidence environment of the early 1990s, we’re not worrying about unemployment this time. However, the Reserve Bank should note that the quantitative driver of employment in this country is small and medium-sized businesses, not the mining industry’s wages, which only accrue to those in that industry. The Reserve Bank should remember that most businesses in this country are “mum and dad” affairs, whose business finance is raised off their family mortgages. They are highly sensitive to interest rate movements, and so are their hiring intentions.

With the financial year having ended, the Reserve Bank has an opportunity to take its head out of the technical economy and look at the practical economy. At a time when households and small businesses are low on confidence and high on costs of living, we should be easing interest rates to secure a soft landing from the expected global problems, and to guide the domestic economy back on to a sure footing.

I am glad Westpac has finally bought into my arguments. But rather than cutting rates once this year, and three times next year, as Westpac forecasts, why not get pre-emptive? If the Reserve Bank cuts rates at the next board meeting, it may avoid the need to have to slash rates in a GFC-style fashion after the crisis has already hit our shores.

People like to say the Reserve Bank gets ahead of the curve. They forget, however, that our Reserve Bank kept mortgage rates at 9.6% as late as August 2008, and only reduced rates for the first time in September that year. The RBA got behind the eight ball in the last crisis. I would hate to see history repeat itself.

Mark Bouris is the chairman/co-founder of Yellow Brick Road Group.

This article originally appeared on Business Spectator.

End of financial year report

Richard Patterson — Thu, 30 Jun 2011 06:14:44 +0000

30 June 2011

Capital city dwelling values declined by 0.3 per cent (seasonally adjusted – s.a.) in May, and are down 1.2 per cent (s.a.) over last 3 months. Rest of State house values were also weak in May (-0.1 per cent s.a.) and are off -0.9 per cent (s.a.) over last 3 months. Gross rental yields for Aussie apartments are now 5.0 per cent.

Based on more than 110,000 home sales nationally in 2011, the market-leading RP Data-Rismark Home Value Index for Australia’s capital cities declined by -0.3 per cent (s.a.) in the month of May (or by -0.5 per cent in raw terms). Capital city home values have now fallen for the last five consecutive months with by far the worst seasonally-adjusted result coming in the month of January (-1.2 per cent), which accounts for 45 per cent of the 2011 decline.

The softening in Australian home values is delivering a valuation dividend with Australia’s dwelling price-to-disposable income ratio falling to 4.2 times, which is its lowest level since June 2003 according to Rismark’s analysis.

RP Data’s research director, Tim Lawless, added “For property investors, rental yields are also improving with RP Data-Rismark’s Index showing that gross Australian apartment yields have now risen to 5.0% (see chart). The best rental yields can be found in Darwin (5.7 per cent), Canberra (5.4 per cent), Brisbane (5.2 per cent) and Sydney (5.2 per cent). The worst yields are in Melbourne (4.2 per cent), Adelaide (4.6 per cent) and Perth (4.9 per cent).”

Over the three months to May 2011 dwelling values in Australia’s capital cities have retraced by -1.2 per cent on a seasonally-adjusted basis. In raw terms, dwelling values have fallen by -1.3 per cent. The quarterly rate of decline has, however, moderated since the end of March when home values were off by -2.0 per cent care of a flood-affected January.

Over the 12 months to end May, Australian capital city dwelling values are now down -2.3 per cent (seasonally-adjusted). If we just look at the first five months of 2011, Australian home values have stepped back by -2.7 per cent.

Across the capital cities performance has been varied and counter-intuitive to the purported resources boom. Sydney is the only market to have recorded a modest capital gain over the last year (up 1.0 per cent). Homes in Canberra have also held ground (-0.1 per cent over the year). All other capitals have slipped into the red, with some down by significant margins.

According to Tim Lawless, the two weakest results have been Perth, where dwelling values are down -7.5 per cent year-on-year, and Brisbane, which is off by -5.9 per cent over the year.

“After extraordinary capital gains in recent years, Darwin (-3.2 per cent) and Melbourne (-2.9 per cent) have also both experienced small corrections. Interestingly, in the last three months the laggards have again been Perth (-4.2 per cent), Melbourne (-1.8 per cent), and Brisbane (-1.4 per cent)” Mr Lawless said.

RP Data-Rismark’s Rest of State Index captures the 40 per cent of all homes not located in the capital cities. The Rest of State areas have had smaller peak-to-trough swings in value since 2007. Over the three months to end May, Rest of State house values were down -0.9 per cent and -1.4 per cent over last 12 months.

The national median dwelling price in capital cities is $470,000 based on sales over the three months to May. Sydney is the most expensive market, with a median dwelling price of $522,000 followed by Melbourne ($500,000). The cheapest cities continue to be Hobart ($315,000) and Adelaide ($382,500). In the Rest of State markets, the national median dwelling price is a far lower $325,000. Across all Australian regions, the median dwelling price is currently $420,000.

Reflecting on Australia’s patchwork economy, RP Data’s Tim Lawless commented, “Despite what appears to be fairly strong fundamentals, the Perth housing market doesn’t appear to be turning just yet. For a city that is recording rapid population growth, low unemployment and a large private capex boom, house prices have nevertheless been contracting since late 2007 after years of above average capital growth in the pre-GFC period. Today the critical missing piece of the puzzle seems to be buyer demand.”

The trend of premium markets taking the brunt of the market correction has continued, with the top twenty per cent of capital city suburbs ranked by price recording a fall of 3.9 per cent over the 12 months to end May compared with a fall of -0.9 per cent across the cheapest 20 per cent of suburbs and -2.3 per cent within the broad ‘middle’ 60 per cent of the market.

According to Tim Lawless the weakness across equities markets is likely to be an important factor affecting the premium housing market: “The S&P/ASX 200 Index remains almost 35 per cent below its November 2007 peak and the index is down 8 per cent since the start of April. The top end of the market clearly benefitted from the circa 40 per cent rise in share prices following the trough in March 2009. However, the recent share market weakness is affecting premium demand.”

Ben Skilbeck, Rismark’s Joint Managing Director, added, “Demand for Australia’s luxury homes has also been sapped by the surging currency, which has made local housing much more expensive for expats located in Europe, North America and Asian countries with US dollar currency pegs to buy. Financial markets are currently pricing in a decent chance of an interest rate cut over the next 6-9 months. If the RBA does indeed reduce rates, this would provide substantial support to the market. However, our central case remains that rates are heading up, not down, and thus we are not looking for any capital gains in 2011. That said, total returns will be boosted by very solid growth in rents, with gross yields in May now at 5.0% for Aussie apartments. Rental vacancy rates remain very tight, so we expect to see further improvements in rental returns.”

According to Mr Lawless, the soft market conditions reflect a weak level of consumer confidence across the country. “Consumers are well and truly focussed on saving, not spending. Despite the low rate of unemployment and the strength of the resources sector, it is clear that the average Australian is content to pay-down debt and wait for some economic certainty to return. As a consequence, transaction volumes in the real estate market are about 20 per cent below the five year average and listing volumes are about 25 per cent higher than what they were last year.”

source: RP Data – Rismark Home Value Index Release

Like mother like daughter!

Melanie Patterson — Fri, 03 Jun 2011 00:34:19 +0000

fresh tracks

Millie, my daughter, has started her own little food ‘shindig’ online.

Please click on it and have a look at her passion for food (proud to say she takes after her mother!)