Buying a property in Sydney...

Finally I reached the moment in my life where I strongly considering of buying a house or an apartment in Sydney. But after some reading I'm wondering - is it the right time?

According to RP Data Sydney housing market update for October, Sydney house prices are rising the most in all Australia:

Capital gains across Sydney's housing market have accelerated over September with values moving 2.5 percent higher over the month and 5.2 percent higher over the quarter. since the market reached a low point in May last year, Sydney values have risen by 12.2 percent. The typical Sydney home is selling in just 34 days. Vendors discounting the prices by an average of just 4.9 percent and clearance rates have consistently been around the 80 percent mark over past month. Clearly this is a seller's market. Buyers have less stock to choose from, competition with other buyers is much more intense and there's less time to make a purchase decision and negotiating a lower price is becoming more challenging.

Sydney Key Statistics

Change in dvelling values

Three months: 5.2%
Twelve months: 8.0%
From peak: (at peak)

Median prices (based on sales over past three months)

Median dwelling price $588,000
Median house price $665,000
Median unit price $517,500

Rental rates and yields

Weekly rent, houses $577
Gross rental yield, houses 4.0%
Weekly rent, units $505
Gross retal yield, units 4.8%

Selling time and discounting

Time on market, September 2013: 34 days
Time on market, September 2012: 54 days
Vendor discount, September 2013: -4.9%
Vendor discount September 2012 -6.5%

Stamp duty and other costs

And you have to remember other costs involved in buying property, such as stamp duty. According to this NSW stamp duty calculator I will need to pay around $32,000 just in taxes for the government. And then extra expenses, such a conveyancing, pest and building inspection, home insurance, etc.

Hmmm, am I really ready to buy a property?

Under The Dome

I'm a huge Stephen King fan and I'm very excited his novel "Under The Dome" goes on screen as TV series on CBS tomorrow. What's more excited that I will be able to see each episode just hours after the US here in Australia as Channel 10 fast-tracking the show.
I see there is more Stephen King fans in Australia as a fan website for the "Under The Dome" is already created. So far only Under The Dome episode guide and Under The Dome cast pages created, but I hope more soon...

Obesity and life insurance

This picture shows the percentage of the population older than 15 with a body-mass index greater than 30:

This was back in 2007. I wonder how would statistics stack up today? Definitely Australia should move to the top positions as we are hearing that Australians are the most obese people in the world per capita. No surprise life insurance in Australia is becoming more and more expensive on average.

Taxation of Life Insurance in 1908

Found very amusing Extracts From Report of Committee of International Tax Conference in 1908. It's all about how to tax life insurance companies:

It must be admitted that there is no one scientific system of taxing life insurance companies; whatever is adopted must be simple and easy and certain of calculation. The legislative mind must not be confused by technical side issues.

A license fee or tax measured by premium receipts received in the state meets this desired requirement and bases the contributions of life insurance companies to governmental support on the amount of business transacted with policyholders in the several taxing jurisdictions.

Concerning the rate your committee is of the opinion that the imposition of a tax of 1 percentum of domestic premium receipts upon all companies engaged in the business of life insurance would result in substantial and sufficient revenue to the several states and be an ample requirement from the companies.

The fee should be uniform, and apply alike to domestic and foreign companies.

Under existing laws the basis of domestic premium receipts is generally recognized, but the rates vary materially, resulting in manifest discrimination and injustice, and provoking retaliation.

The revenue thus paid by way of license fee should be in lieu of all charges for supervision and all taxes except those locally levied on real estate.

Life Insurance Australia

Setting forth to compare life insurance, there are a number of indemnity options available. Life insurance shoppers should look at the range of universal protection plans that provide more than a mere lump sum paid out to a beneficiary or estate upon death of the insured. Protection plans are typically amortised according to amount of indemnity, and based on a number of elements: children's education, expenses, and mortgage/debt ratio.

A monthly premium goes a long way toward the prevention of financial duress. In the event of a loved one's passing, secure bills, education and mortgage repayment agreements with with the assistance of a life insurance.

LISA Group insurance offers an entire scope of life insurance products. In addition to end-of-life coverage, many LISA Group offers supplemental services:

• Income Protection Insurance
• TPD Insurance
• Trauma Insurance

Always check conditions and terms when buying life insurance in Australia. Good brokers will find the best comprehensive coverage at an optimum rate. As a rule of thumb, the more extensive the indemnity, the more expensive the policy.

Compare life insurance companies prior to making a decision on your investment at LISA Group. Securing your finances at the end of life is quality peace of mind. Protect your family today.

Lenny the Horse or Wellington Grey

In this video 9 year old Irish warmblood gelding Lenny or Wellington Grey showing his grace moves over the course. In the second part of the video Wellington Grey does some impressive jumping over the barriers. Lenny has done Level 5's in this video. Horse rider - Hennah.

Wellington Grey NOT the Cartoonist

Hi, I'm Wellington Grey, but I am NOT the cartoonist Wellington Grey. If you after the later go to his original website: www.wellingtongrey.net.

One of the best cartoons of Wellington Grey I found is 'Periodic Table of the Internet":

This blog is created to express my thoughts and ideas about my life, things I find in the Internet, things I see in other countries and so on. Don't expect it to be updated daily, but please come back if you like what you find here.