Territory Stories

The Centralian advocate Fri 11 Jan 2008



The Centralian advocate Fri 11 Jan 2008


Centralian Advocate; NewspaperNT




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Community newspapers -- Northern Territory -- Alice Springs; Tennant Creek (N.T.) -- Newspapers; Alice Springs (N.T.) -- Newspapers.; Australia, Central -- Newspapers

Publisher name

Nationwide News Pty. Limited

Place of publication

Alice Springs


v. 61 no. 66

File type



Copyright. Made available by the publisher under licence.

Copyright owner

Nationwide News Pty. Limited



Parent handle


Citation address


Page content

30 Centralian Advocate, Friday, January 11, 2008 PU B : C A D V D A T E : 11-JA N -2008 PA G E : 30 C O L O R : C M Y K 8953 4822 Licenced Land and Business Agents Member: R.E.I.N.T. Suite 2, 5 Hartley Street at the TOP end of town... R E A L E S T A T E Details: Dianne Logan 0418 897 027 25/92 Barrett Drive $275,000 By Personal Inspection STYLISH OPEN PLAN, BEAUTIFUL This lovely apartment has had the bathroom & separate toilet fully upgraded & remodeled, along with the stainless steel kitchen. 2 bdrms, 1 bthrm, 2 courtyards, carport. Ceramic tiles feature throughout, great views. Desert Springs 18 Johannsen Street UNDER OFFER IMPRESSIVE HOME & POOL, A FRESH BREEZE Superb property! Stunning NEW kitchen, bathroom. Call Trevor on: 0407 167 749 or 89534822 Gillen Ciccone With Granny Unit & Pool $345,000 By Personal Inspection GENEROUS INSIDE & OUT! BE TEMPTED Extensive home, great location, close to everything. Near Spicer Park, 3/4 bedrooms, 2 large living areas. Includes air/cond granny, handy-man shed, lge. pool, leafy green gardens, carport, entertainer patio. 1470m2 For full details call Trevor 0407 167 749 Gillen 18 Poeppel Gardens Neg. $375,000 OPEN Saturday 9.45 - 10.30am STATELY HOME, MORE FOR YOUR MONEY Large 2 plus bathroom home with 2 family living areas, formal dining, 2nd meals, update kitchen, d/washer. Simply huge main bdrm./ retreat, en-suite,walk-in. Big patios, & big free standing rumpus/ granny & SPA pool. Call or contact Trev Espeland on 8953 4822 Tennant Creek 5 Skipper Street $138,000 By Personal Inspection PACKED WITH OPPORTUNITY, VALUE + Things are happening up here. Spacious, well presented home set in the heart of the town. 3 good-size bedrooms, semi open plan. Separate kitchen, upper cupboards, sep. toilet. Rented. Call Trevor for complete details: 0407 167 749 Braitling 4 Tucker Street $325,000 Neg. OPEN Saturday 11:00 - 11:45am SPACIOUS HOME, MAKE A SUMMER SPLASH Relax & enjoy the pool, the tropical palms, pergola, shade house, big carport, shed. 3 bedroom home, update kitchen with dishwasher, 2nd family room, update bathroom and big entertainer patio. Call Trevor for complete details: 0407 167 749 144 Cromwell Drive fr. $600,000 ELEGANCE, LUXURY HOME PACKAGE 5 Bedrooms, 3 bathrooms, great balcony views Contact Trevor for full details 8953 4822 Desert Springs THINKING OF SELLING? FREE MARKET VALUE APPRAISALS - CHECK OUT OUR SATURDAY OPEN INSPECTIONS 2/3 Bloomfi eld Street $395,000 DRESSED TO IMPRESS EXECUTIVE 3 bdrm, 2.5 bthrms, 2 living, carport, garage. By personal inspection: Trevor 8953 4822 Close to CBD Parkview Ter ace NOW AVAILABLE INVESTOR PERFECT EXECUTIVE TERRACE HOME APARTMENTS FOR LEASE AND SALE Call Trevor or Dianne for Complete details UNDER OFFER REAL ESTATE Rentals likely to increase in 2008 Increasing demand andlower vacancy rates will cause rents to increase during 2008 is predicted by the Real Estate Institute of Australia. It said high demand for rental properties caused by population growth and declining investor interest suggests vacancy rates, running at an average 1.7 per cent, are unlikely to improve. Increases in median rents can be expected in all states, the institute said in its 2008 real estate market outlook released this week. The likely increases follow across-the-country increases last year with rents for three-bedroom houses increasing by an average of 12.6 per cent to September 2007. The institute said rental affordability was already a significant issue in several cities, notably in Darwin where the median rent for houses is $440 per week and $340 per week for other dwellings. Darwin is now the most expensive rental location in Australia, although Sydney and Canberra renters also pay $340 median weekly rent for two-bedroom other dwellings. The cheapest rental location is Adelaide at $255 per week for a three bedroom house and $205 per week for a twobedroom dwelling. But even there rents rose more than 8 per cent in the year to September 2007. The institute said investors have shied away from the housing market, as interest rates have risen, to take advantage of other investment opportunities which have more favourable taxation treatment. The slower transition from renting to buying, caused by the lowest firsthome affordability rate in 22 years, was also impacting on the number of properties available for rental. Broker reform cant be hurried The New South Wales oppositionhad called for the fast-tracking of new laws to eliminate dodgy mortgage brokers. NSW Fair Trading Minister Linda Burney unveiled a draft bill in November to reform the mortgage and finance broking industry in Australia. Under the reforms, brokers would be subject to a licensing process in a bid to screen out operators with a history of dodgy lending practices. The reforms, drafted on behalf of all states and territories under a Ministerial Council on Consumer Affairs (MCCA) agreement, will be voted on by the various Australian governments at a ministerial meeting set down for April or May. Ms Burney said the legislation would come into force at the end of this year or early in 2009. Opposition fair trading spokeswoman Catherine Cusack slammed the delay, calling for both the meeting and the legislations enactment to be brought forward. Ms Cusack said: These laws are essential to protect home borrowers from excessive interest rates and unfair conditions in home loan contracts. As a result (of the delays) ... notorious shonks who should be thrown out of the finance industry are still allowed to prey upon borrowers. It is urgent and essential that Minister Burney sets herself a firm and early deadline to protect vulnerable home borrowers. A spokeswoman for Ms Burney said the public consultation process was due to end on February 15 and the timing of the MCCA meeting could not be changed. She said: The consultation process is already in train, that ends on February 15. The next stage is to meet with MCCA which will be in April or May, then it rolls out from there. It is all under way. Exit fees squeeze churners of loans Early exit fees can be avoided with background work. Early exit fees on home loans cancost you thousands of dollars, but they can be avoided. Senior banking officials said, before taking out a loan, people should get advice on what fees would apply in particular circumstances and have a clear understanding of their short-term goals. InfoChoice general manager Denis Orrock said deferred establishment fees, early exit fees and break costs on loans could run into thousands of dollars. Mr Orrock said: The massive increase in loan churning and the resulting fall in the average life of a mortgage has seen new emphasis placed by lenders on fees for leaving a loan after the first few years. Especially watch out for these new fees on loans that offer low or no upfront fees when you take them out. Mr Orrock said exit fees could be a flat fee or a percentage of the amount of the loan outstanding at the time. He said: These fees are not incorporated in lenders comparison rate calculations, one of the reasons there is an increasing incidence of these charges. BankSA general manager Chris Ward said exit fees, or early repayment fees, were generally payable on loans with a honeymoon period, which had a discount factored into the interest rate in the first year. He said on this type of loan the financial institution would expect continuity of customer for a period of time three to four years perhaps to ensure the banks earning capacity on the loan. Mr Ward said the fees could be significant, depended on how long the loan had been in place and how long it still had to run. Australian Central senior manager retail banking Wendy Spurling said break costs were charged when a fixed-rate loan was paid off early. She said: For example, if you take out a five-year fixed rate loan and refinance in two years, under the contract there would be a penalty involved because youve broken the contract. Ms Spurling said the best way to avoid these costs was to consider them all before taking out the loan product. She said: Get some advice on making sure youve got a loan that suits your needs, dont just look at the cheapest price what are your longer-term goals and how long do you intend to stay in this property? Be aware of penalties. Make sure when you receive your contract you fully understand what they are. Mr Ward said it all came down to asking the right questions before signing any contracts.

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