The median price for a Perth house will pass $600,000 within three years as the city’s property market reclaims its title as the strongest and fastest growing in the country, a new report predicts.
The BIS Shrapnel residential property report forecasts house prices in Perth will climb an average 7 per cent a year for three years, pushing the median price to $610,000 from $500,000 today.
No other capital is expected to enjoy such strong capital growth, with even higher interest rates unlikely to slow the Perth market as much as others.
Senior project manager Angie Zigomanis said even though the Perth market slowed before other cities in 2007, conditions were improving on the back of another resources boom. Money flowing from commodities would soon push up house prices across Perth.
“With prices below peak levels in real terms and income in Perth set to grow substantially as the next round of resource expansion projects get up and running, solid price growth should continue,” he said.
“Nevertheless, further increases in interest rates will prevent the boom in prices that we saw in the last upturn.”
Mr Zigomanis said the median house price would climb 22 per cent by the middle of 2013. This growth would be quicker if the Reserve Bank did not increase interest rates in the next six to 12 months.
Growth at that rate would surpass other capitals such as Sydney (up 20 per cent), Melbourne (11 per cent), Brisbane (12 per cent), Adelaide (20 per cent), Hobart (12 per cent), Canberra (14 per cent) and Darwin (12 per cent).
House prices climbed rapidly through the second half of last year and into the first four months of this year.
Mr Zigomanis said this was directly because of record low interest rates in response to the global financial crisis and a “pull forward” of demand from the first-homeowner’s grant. Not only would house prices outpace inflation, they would affect rents.
“Even though overseas migration inflows are steadily easing, a deficiency of stock is still in place with dwelling construction below underlying trend,” he said.
Recent Australian Bureau of Statistics figures show a fall in loans for people buying homes but an increase in loans for investment properties. Financial market analysts do not expect official interest rates to rise until May next year.
source : www.thewest.com.au
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Ramsay fires back at Grimshaw
Posted in Local News, tagged "sexist, A Current Affair, abusing, aimed, allegations, allegedly, angry reaction, appearance, arrogant, at the food show, attack, audience, Australia, avalanche, bitter, blown out of proportion, branding, Britain, bully, calling, celebrity chef, chefs, comments, compared, confine, congratulating, deeply mortified, denied, disgusting, extra-marital affair, Fairfax Radio Network, fired, fray, gay., generated, global, Good Food and Wine Show, Gordon, Gordon Ramsay., Grimshaw, guilty, Health Minister, himself, homophobic remarks"., insinuations, intended, joke, Julia Gillard, kevin rudd, kitchen, lawyers, lesbian, Local News, long-running, Melbourne's, Melbourne's Yarra River, members, Mr Rudd's deputy, Ms Gillard, narcissist, New Zealand, Nicola Roxon, nine network, offensive, outburst, overwhelmed, photo, pig, Prime Minister, private life, program, prop., public, public rant, Ramsay, rant, ratings, reflected, remorse, report, reporters, sad, scrutinised, second, sex god, sexuality, stop, support, Tana, The Mail Online, The Mirror, tongue-in-cheek, too far, Tracy Grimshaw, TV chef, TV presenter, uninformed, US, US celebrity watcher Perez Hilton, veteran, viewers, volley, weekend, wife, women, women's groups. on June 9, 2009| 1 Comment »
Days after a public rant aimed at Tracy Grimshaw, celebrity chef Gordon Ramsay has fired a second volley branding the TV presenter “sad”
and “bitter” for defending herself.
Ramsay denied calling the Nine Network veteran a lesbian at a weekend appearance at Melbourne’s Good Food and Wine Show during which he also allegedly compared her to a pig, using an offensive photo as a prop.
Ramsay on Tuesday said he was “deeply mortified” that his intended joke had been blown out of proportion – and that was before Prime Minister Kevin Rudd said the chef’s comments reflected a “new form of low life”.
Mr Rudd’s deputy Julia Gillard and Health Minister Nicola Roxon joined the fray, saying Ramsay should confine himself to the kitchen and stop abusing women.
But there was no remorse from the TV chef after Grimshaw used her A Current Affair program on Monday to take him to task over his food show rant.
Ramsay on Tuesday said he’d never used the word “lesbian” to describe Grimshaw, and said she herself was guilty of a “disgusting” attack on his wife Tana, who’s due in Australia in two weeks.
“She’s obviously doing it for the ratings,” he said of Grimshaw, speaking to reporters after a run along Melbourne’s Yarra River.
On Monday, Grimshaw branded Ramsay a bully and an “arrogant narcissist”. She said he’d made “uninformed insinuations” at the food show about her sexuality, and she told her viewers she was not gay.
Grimshaw said that before a recent interview for her program, Ramsay had insisted she refrain from asking about his private life following allegations of a long-running extra-marital affair.
“We all know why,” she said.
She added: “… I’m not surprised by any of this. We’ve all seen how Gordon Ramsay treats his wife – and he supposedly loves her. We’re all just fodder to him.”
Asked if he could understand how Grimshaw felt, Ramsay told reporters: “I never once said the word lesbian, I was having a tongue-in-cheek joke – it was not at her expense.
“For me on a personal front, to see how sad and how bitter for someone to come out like that, for a renowned pro to come out and stoop that low, is disgusting.”
He said tapes of the alleged incident were being scrutinised by his lawyers.
Mr Rudd was firmly in Grimshaw’s corner on Tuesday, congratulating her for giving Ramsay a “left uppercut” in her reply.
“I think I can describe his remarks as reflecting a new form of low life,” he told the Fairfax Radio Network.
“I just drew breath when I saw the sort of stuff which was said about her. I just think that’s off and offensive.”
Earlier, Ms Gillard said the celebrity chef should stay in the kitchen.
“I think perhaps what he should do is confine himself to the kitchen and make nice things for people to eat rather than make public comments about others,” she said.
Health Minister Nicola Roxon said there was no need for “women to be abused in our community at any level”.
Grimshaw said she had been overwhelmed by the avalanche of support she’d received.
The fallout from Ramsay’s rant has gone global, spreading to his homeland Britain and to the US and New Zealand.
Britain’s The Mirror sent up Ramsay in a report headlined: “Good thing Gordon Ramsay is such a sex god.”
“Gordon is such a handsome devil, a veritable sex god come to Earth to live among men, you can understand why he might feel that mere mortals are unworthy of his presence,” the report said.
The Mail Online carried a report about the outburst and the angry reaction it had generated among audience members and women’s groups.
US celebrity watcher Perez Hilton said Ramsay had gone too far with his “sexist, homophobic remarks”.
Source www.ninemsn.com.au
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