Today's Fin Review quotes the Australian Chamber of Commerce and Industry as saying:

'The time has come for Australia's central bank to move decisively to cut rates by a full half a per cent, and for the retail banks to immediately pass it on. There needs to be a significant and unambiguous signal to support activity and lift confidence across the next quarter.'

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Plans rejected by Port Hedland council in January have now been approved for BHP to construct a 4000 person camp on council land with a minimum 15 year lease. The camp is to house contractors for the outer harbour development

Port Hedland's mayor, Kelly Howlett says the revised plans satisfy the council's initial concerns.

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There are about 1.75 million tax payers owning rental investment property. Are you one of them who owns more than one property looking to retire on a passive income through your property wealth?  How quickly can you achieve this?

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Bloomberg reported that Fortescue Metals Group Ltd Australia third largest iron ore producer expects to receive government approval to develop a fifth berth at Port Hedland as soon as next month as the company plans to triple output. Will this put even greater demand on rental accommodation creating more property wealth for property investors?

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Governments of the world’s leading economies have more than $7.6 trillion of debt maturing this year, with most facing a rise in borrowing costs.

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Melbourne house prices according to RP Data fell 5.6 per cent in the past year and buyer confidence appears low with affordability levels and euro debt continuing worries not helping. This follows many years of strong growth, but house prices are predicted to be flat during this year. 

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We wish you a merry Christmas

and

a Happy New Year

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Many investors look to purchase a rental investment property close to where they live.  I suppose there may be comfort in knowing you can regularly drive by and have a look. This wouldn’t be my way of enhancing wealth creation by property investment.  There are so many areas in our country that are likely to show strong growth rather than just where you live.

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There has been lots of news surrounding granny flats as an investment. I’m not so sure as to the investment benefit if you are seeking a capital gain from your hard earned money. But if you’re looking to get increased space, such as a home office or an additional rental income from adding a modular home / granny flat, there may be a reason.

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A couple reports. One stating new housing starts fell 6.8 per cent in the September quarter according to the Australian Bureau of Statistics. This takes the starts to 11.5 per cent lower than last  year. Apart from Queensland all states are building less houses, with the steepest falls in Victoria and South Australia. Housing approvals reported for October are also down on last year by 10.7 per cent. The current economic conditions together with high property taxes and planning conditions are all paying their part.

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