Issue #357 – Wednesday, 16 November, 2016
Albury Wodonga’s largest circulating newspaper
And at last, the guns fell silent IT was on the 11th hour of the 11th day of the 11th month in 1918 that the guns of the Western Front fell silent after more than four years of continuous warfare.
FULL STORY ON PAGE 2
Cheaper than ever By Monique Kuzeff THE good news is that if you are looking to buy a house, Albury and Wodonga are among the most affordable regional towns in both Victoria and New South Wales. The bad news is that there are concerns around economic forces affecting Australia. According to the latest Domain Regional House Price Report, Wodonga is the strongest market performer in regional Victoria and still among the most affordable. Across the river, Albury is the most affordable regional town in NSW. The report notes Wodonga’s median house price has increased to $316,000, an annual growth of 10.9 per cent, while Albury prices are down 4.8 per cent this quarter to $297,000 for an annual decrease of one per cent. Hutton Real Estate principal Nigel Horne, who has over 20 years of experience in local real estate, was not surprised at the report, describing the Border towns as being affordable with the added bonus of lifestyle benefits. “It’s the area itself that you’re buying, with the infrastructure, tourism sites and general things such as dams, rivers and wineries,” Mr Horne said. He said these perks had seen more capital city investors buying properties in the area also for two other reasons the price and yield. “The purchase price here is less that the capital cities but secondly the percentage return is often better than what you achieve in the capital cities,” he said. Following the Reserve Bank of Australia’s (RBA) decision to lower interest rates to an all-time low of 1.5 per cent back in early August, Mr Horne said it was now easier for buyers to obtain finance. However, the Australian Financial Review reported the International
Australia’s household finances at a glance. Monetary Fund (IMF) raising the spectre of an Australian housing bubble. The IMF warns the rapid growth in private debt in Australia could drive the economy into a future debt crisis. In its latest Fiscal Monitor, the IMF reported that private debt in Australia had increased at a “fast pace” while other advanced economies whose private debt rose at the start of the global financial crisis have seen substantial reductions since a turning point in 2012. According to Forbes magazine as reported in the AFR, Australia is num-
ber two, after China, on a list of seven countries most likely to experience a debt crisis in the next three years. Furthermore, the latest Household Sector chart-pack released this month by the RBA shows that Australia’s household debt is over 175 per cent of GDP (see graph: Household Finances), and Forbes reports increased risk of economic crisis occurring when private debt is over 150 per cent of GDP. On top of this, Morgan Stanley says that total household, corporate and government debt in Australia is in excess of 243 per cent, the AFR reported.
In relation to this, Charles Sturt University Professor of Economics John Hicks was sceptical about future debt crisis predictions, saying that in the past people have “drawn lines in the sand” and that such a crisis has never eventuated. Professor Hicks said the intention of US president-elect Donald Trump to initiate massive fiscal stimulus and infrastructure spending with tax cuts would be “inflationary”. “If he undertakes what he says he will undertake, and there’s a question around that as to whether he will, then
yes, that will be inflationary,” he said. “Increasing money supply and reducing taxes at the same time is a recipe for that.” Meanwhile, the world’s largest bond market in the United States is selling off. To paraphrase American economist, lawyer and finance commentator James Rickard in his book The Death of Money - the sick patient is the economy, the Federal Reserve Bank is the doctor, the politicians are the concerned relations, and the bond market is the undertaker waiting to carry away the patient’s corpse.
Simply the best choice of LAND. Both sides of the border. NOW SELLING STAGES 1 & 2- SOMERSET RISE!!! CHRISTMAS SPECIAL - BE QUICK! 1 Stanton Drive
$133,000 $1333, 3,00 000
61 O O’K ’K Keeeefe fe Street Str tree ree eet 61 O’Keefe
2 Stanton Drive
$143,000 $14 1433,,00000
62 O ’Keeeefe ’K fe S Stttrre reet eeeet 62 O’Keefe Street
$$1 12200,0 ,00000 $120,000
3 Maclure Rd
$130,000
65 ZZellar eellla ella lar ar Co C our urt 65 Court
SOLD S SO O OLLD $120,000
6 Maclure Rd
SOLD SO S O OLLD $110,000 ,
7 Stanton Drivee
$110,000 $11110, 0,00000
8 Stanton Drivee
$12 120, 0,00000 $120,000
ve 17 Stanton Drive
$$1135,0 5,,000000 $135,000
LAND SALES 02 60 567 111
rtt 33 Phelps Court
$1455,,000 $145,000
39 Gallagher Stt
SOLD S O OLLD $ SO $110,000
et 57 O’Keefe Street
$114433,,,00 00000 $143,000
58 O’Keefe Streett
$11 114, 4,0000000 $114,000
ed by tails. nrgive hnaD Whhiitltleerr R ooaad $$125,000 1255,,00 12 000 79 Whitler Road 220 202 02233 S ttaaenton nxtcon Dri ve or$$1 00 2023 Stanton Drive $125,000 d1e255,,0000 s t c l ntra r 16. Cal f o c r o 220003 003 03 LLankester anke an kest steerr C ste rrtt $1 $$145,000 145,0 45,,000000F 45 enoowl 2003 Crt 220 02244 K wleess C rt $1 $$125,000 125 25,0 ,000 00 2024 Knowles Crt cemb 0th De2025 SOLD SOL SO S OLD OL 220005 05 LLankester anke an kest ster ste er C rrtt $1 $$120,000 12200,,0000 002 2005 Crt 2025 20 25 K now no wllleeess C rtt $$109,000 , Knowles Crt
www.nordcon.com.au
59 O’Keefe Street
$11445, 5,00000 $145,000
200066 LLankester 20 anke ank an kest ster er C rt $$1 rt 1377,5 ,5000 2006 Crt $137,500
0 $500
t Prompent m Settle unt! o Disc etails r Call fo
d
$$127,500 127, 127 12 7,5000
220 007 07 LLankester aannk nke kestter er C rrtt $1 $$137,500 37,5 37 ,500 0 2007 Crt
$$128,000 128,00 12 8,00 8, 000 E20 2008 08 LLan anke an kesstteerr C rrtt Lankester Crt IS 2008 R T $ 11 1 1 7 7, , ,0 00 0 0 00 0 $117,000 2009 20 2 0 09 0 9 L an a n k ke e st s t ter e er r C rrtt Lankester Crt E ERS
OeellllaaM 6S 7 ZZellar r Cou Co our urt 67 Court
$$1 11111000,,000 000 00 $110,000
220 010 10 LLankester ankes an kest ke ster er C rrtt $$1 135 35,,000000 2010 Crt $135,000
68 ZZellar eellla lar C Co our urt 68 Court
$$125,000 1225, 5,00000
SOLD SO SOL S OLD OL LD 220 01122 LLankester aannkeeste sstteerr C rrtt $135,000 2012 Crt
69 ZZellar Zeeellllaar C Co ouurrt 69 Court
SO D SOL SO SOLD $135,000
220 013 13 LLankester aannkkeesstteerr Cr C rt $$135,000 rt 1355,,0000 00 2013 Crt
71 S tannttoonn D ta rriivvee 71 Stanton Drive
$$125,000 $1 1255,00 ,000000
220 01177 LLankester annke an kester ke kes sterr C st rt $125,000 rt 2017 Crt
22033 Hay Court
SOLD $140,000
72 S ttaanto ntoonn D nt rivvee ri 72 Stanton Drive
$$1 130 30,0 ,00000 $130,000
220 02222 S tant ta ntton oonn D rive ri ve $$1 12255,,000000 2022 Stanton Drive $125,000
22034 Hay Court
SOLD $129,000
2035 Hay Court
SOLD $137,000
2036 Hay Court
$135,000
E L B U DO COUNT S I D R YOU $ 5000 22026 20 026 26 Kno K now no wlles es C rtt Knowles Crt
$$132,000 $13 $1 132 32,0 ,000 000
SOLD 2037 Hargraves Rd $135,000
2040 Hargraves Rd $125,000 AW3099184