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David & Phil are two mates from Sydney attempting the two week trek to Base Camp (at the base of Mt Everest) in September/October 2010. During this trek Phil & David are also trying to raise money for the Black Dog Institute through corporate sponsors and personal donations. So if you would like to “back” 2 guys to base camp please see the donations page of the Back2Base website. All funds go directly to the Black Dog Institute.

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Back2Base

David & Phil are two mates from Sydney attempting the two week trek to Base Camp (at the base of Mt Everest) in September/October 2010. During this trek Phil & David are also trying to raise money for the Black Dog Institute through corporate sponsors and personal donations.

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The latest interest rate rise spells tough times for those battling mortgage stress but could be a boon for commercial property investment.
The Reserve Bank of Australia (RBA) increased interest rates by 25 basis points to 3.25 per cent last week, a move that was soon mirrored by major banks.
Premier Anna Bligh said the rate rise was an encouraging sign of economic optimism but was a blow for homeowners struggling to meet mortgage repayments.
“For those feeling mortgage stress any interest rate rise is tough news,” she said.
“What Queensland property market needs is some restoration of confidence in investors in large scale commercial projects.”
Large scale retail, office buildings and some major high-rise projects had suffered from lack of investor confidence during the downturn.
Queensland Treasurer Andrew Fraser said the RBA’s increase signalled that it was official – economic recovery is under way.
Ray White real estate property group Chairman Brian White said a small rise in official rates shouldn’t hurt the housing market.
“This 0.25 per cent rate rise was expected, it was just a matter of when, and people will anticipate rates will return to more traditional levels,” he said.
“I think we can afford a couple of interest rate rises and the confidence in the economy and the real estate market will override any concerns about where rates are headed.”
Mr White said the first home buyers cashing in on the boosted grant scheme had driven the property market during the first half of 2009 but now people upgrading their homes and property investors were more active.
“The one thing these people share is growing confidence about the Australian economy and the direction we are heading,” he said.
Sources: Southern Star – Springwood and Ray White

THE Ray White Commercial group says it has achieved solid clearance rates and prices in Australia and New Zealand in a sign of confidence returning to the commercial sector.
Ray White Commercial chief executive Mark Williams said monthly auctions across the nation were well attended with properties attracting many bidders.
“The success of these auction events reflected on the efforts of the agents involved and their ability to assist buyers to be auction ready in terms of inance and due diligence to allow them to bid unconditionally,” he said.
“Ray White has a strong history and culture of auctions and there can be good results for both buyers and sellers if the process is done well and agents have fully prepared and sufficiently exposed the property to the broader market.”
He said Ray White Surfers Paradise recently sold nine out of 18 properties on the day, while Ray White Springwood had 13 registered bidders for a shopping centre on Brisbane’s bayside which sold for $4.24 million.
“We have had two properties in Melbourne sell at auction for $150,000 above reserve, one in Adelaide $112,000 over reserve, while at auctions in Auckland and the Sunshine Coast we have had sales with yields of above 6.5 per cent,” he said.

RETIREES have become key players in the commercial property market, the Ray White Commercial Group says.
Chief executive Mark Williams said people in their 60s and 70s had become regulars at auctions nationwide as they looked to invest in commercial property.
“Around Australia we are seeing a lot of retirees entering the commercial property market,” Mr Williams said.
“During the global financial crisis, people have been looking for more certain investment and retirees see commercial property as a highly viable area to invest their money.
“Commercial property, particularly good quality office, industrial and retail premises priced from $500,000 to around $5 million, is proving to be very attractive for these investors.
“If they purchase in their local area, they can look at and feel the property and even more importantly they are comforted by having a quality tenant with a longterm lease of as much as five, seven or 10 years.”
Ed Bullis from Ray White Commercial Cairns said this trend had been slow to catchon in Cairns but it did make sense.
“It’s a solid and stable investment from which you can derive 8 to 10 per cent return,” he said.
Mr Williams, meanwhile, said commercial buildings offered great long-term yields, especially if there was a government or corporate tenant in the building.
“The elderly investors can see that these tenants provide their investment with more security,” he said.
“This investment with quality tenants allows them to go away on a trip around Australia or overseas with complete peace of mind.”
He said Ray White Commercial increased the number of auctions nationwide last year.

Ray White Commercial has achieved solid clearance rates and prices often well over the reserve at auction events throughout Australia and New Zealand in a strong sign of growing confidence in commercial property markets.
Ray White Commercial CEO Mark Williams said monthly auctions at a wide variety of locations were being well attended with properties listed for sale attracting multiple bidders.
Mr Williams said recent Ray White Commercial auctions in Sydney, Melbourne, Brisbane, Adelaide, Auckland, the Gold Coast and Sunshine Coast had all generated healthy sales and many prices above the reserve.
A great launch for the first QLD State Commercial auction was held at the Stamford Plaza hotel in Brisbane’s CBD on December 11th.
Well attended with 120 bids on the 19 properties put up for sale. 7 sold on the day or prior plus 3 have sold since and negotiations are underway with the remaining properties.

He said the success of these auction events reflected on the efforts of the agents involved and their ability to have buyers bidding on a property unconditionally, the appeal of the stock and the skill of the auctioneer.
“Ray White has a strong history and culture of auctions and there can be good results for both buyers and sellers if the process is done well and agents have fully prepared and sufficiently exposed the property to the broader market,” he said.
Mr Williams said among the recent results achieved was $1.4 million for a 503 sqm development site at King Street in Sydney’s CBD which sold under the hammer at a Hilton Hotel auction for $100,000 over the reserve.
He said Ray White Surfers Paradise at a recent event sold nine out of 18 properties on the day, while Ray White Springwood had 13 registered bidders for a shopping centre at Ormiston on Brisbane’s bayside which sold for $4.24 million, with a net yield of 7.15 per cent.
“We have had two properties in Melbourne sell at auction for $150,000 above reserve, one in Adelaide $112,000 over reserve, while at auctions in Auckland and the Sunshine Coast we have had sales with yields of above 6.5 per cent,” he said.
“A feature of these auctions has been the spirited bidding on the day with individual properties often attracting more than 10 registered bidders.
“This sort of outcome is not always dictated by market conditions but it can be influenced by an agent fully understanding the process and putting the property in position to get a good result.”
Mr Williams said Ray White Commercial had increased the number of auctions nationwide through the course of 2009, staging 98 during the March quarter, 119 in the June quarter and 165 in the September quarter.
“There were 59 auctions held last month so this quarter should see the upward trend in auction volume continue and we plan to maintain that sort of pace during 2010,” he said.
The next State wide commercial auctions at the Stamford Plaza Hotel in Brisbane’s CBD are:
February 11th @ 10.30am
March 11th @ 10.30am
April 15th @ 10.30am