North Beach property tests property market

THIS North Beach property could confirm whether Perth’s struggling real estate market has turned the corner. 

Real estate experts say that during the height of WA’s property boom the 1346sqm ocean-front house on West Coast Drive would have fetched more than $5 million.

It is for auction on Saturday and the selling price will be a strong indication of whether property prices, especially for top-end homes, have started to recover.

Nexus sales consultant Peter Berridge, who specialises in the North Beach area, said the property would have been highly sought after during the 2006-07 housing boom.

“It’s a nice elevated lot, with a nice frontage. It’s got everything going for it,” Mr Berridge said.

“I don’t think it would be an over-exaggeration to think it might have sold for in excess of $5 million (back then). We were going through an era where it didn’t seem to matter what you paid for it, you were always going to make a packet until the proverbial hit the fan.”

Mr Berridge said he believed values had dropped about 40 per cent since the property peak.

“The last sale was 341 West Coast Drive in Trigg that sold for $2.2 million and it was a very choice piece of land _ something like that could have possibly pulled $4 million in 2007 and I can mention lesser blocks that sold for more than $4 million,” he said.

According to Landgate, North Beach has enjoyed solid property value growth in the past decade.
It recorded a 19.4 per cent average annual growth rate in the 10 years to December 2008. It also recorded strong growth last year and was among the Perth metropolitan area’s Top 10 performing suburbs, with a 17.7 per cent jump in median house prices.

But during this period it recorded a low volume of sales activity, with just 19 homes sold.
This could have skewered the statistics.

“There’s no doubt that the market for premium coastal property has come back since the height of 2007,” Real Estate Institute of WA president Rob Druitt said.

“Indications are that the first signs of recovery are starting to come through now, so there’s certainly a unique opportunity for buyers who are (looking) in that market,” he said.

Mr Druitt said it has been a bottom-up recovery, so if the top end was reasonably priced and sold, it could give a good indication that Perth’s entire property market had seen the worst.

Source  :  www.news.com.au

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Job hunting tips for New Migrants in Australia

Bill Gates wouldn’t get a job in Australia because he has no local experience,’’ says Ailis Logan, the founder of Tribus Lingua, a consultancy assisting skilled migrants find jobs. Logan is only half joking.

She believes that Australian employers value local experience much more than their counterparts in Europe and the US.

For the many overseas professionals enticed here by the lure of a bountiful job market, the difficulty of finding a job without local experience is no joke.

What does “no local experience’’ really mean?

Are we so parochial that we’d reject Bill Gates if he sent us his resume?

Do we run our businesses in a uniquely Australian way?

Many of us will go overseas to work, valuing the career and life experience we bring back-yet we appear to view the experience that others bring here with suspicion.

Ian Little, the author of Project Australia: Land that Engineering Job in Australia, suggests our geographic isolation has contributed to our conservatism. As the senior engineering manager at engineering giant Worely Parsons, he’s hired many overseas professionals.

He believes that a lack of Australian experience is actually the biggest barrier any newcomer will face. Employers appear worried about the communication skills of skilled immigrants.

Poorly written resumes from overseas professionals may fuel employers’ doubts about immigrants’ communication skills. Little and Logan say they see many bad resumes from recent arrivals.

This makes it harder for employers to assess overseas experience.

Logan recommends that newcomers provide context around places they’ve worked, including the challenges and drivers of the businesses they’ve worked in. It can be difficult to read a resume in isolation of preconceived ideas about a nationality.

It would be naive to suggest that people never discriminate, but Little certainly doesn’t believe many Australians are inherently racist. When it comes to hiring he thinks Australian employers are just risk-averse.

“People will still encounter difficulties when they want to switch industries,’’ he says. “Employers don’t realise how tough times are, and they need to get flexible.’’

But even if everyone spoke English, misunderstandings about meanings can be common. Logan suggests our easy-going expressions can easily .

“Australians appear casual, but are not casual at all,’’ she says. “Come in for a chat’ can mean a formal interview, so you need to be prepared.’’

But perhaps there’s more going on than verbal confusion. Body language plays its part in defining meaning and each culture uses this differently.

Aparna Hebbani, an academic and researcher into intercultural communication in interviews at the University of Queensland says “non-verbals’’ such as a academic and researchercontribute to an estimated 66 per cent of meaning in social interaction.

She’s seen many cross-cultural misunderstandings in an interview. “If an Indian interviewee, for example, does not make ‘appropriate’ levels of eye contact with an Australian interviewer, they can interpret that as a lack confidence or not being truthful,’’ she says. “But the interviewee might not look into the interviewer’s eye out of respect.’’

The way different cultures see interviews may be detrimental to their chances of success. Little claims some have a “servant attitude’’ when it comes to marketing their skills.

“An employment contract is a two-way thing. I’ve not seen many overseas professionals who understand that,’’ he says. “They don’t understand that they have something to offer.’’

Confused communication aside, what are other risks in recruiting a newcomer? Logan and Little say that new arrivals need to understand Australian law, regulations and codes plus the general rules of Australian business practice. But Little suggests in engineering that employers’ perception that newcomers can’t adapt is greater than reality.

“Engineering is an applied science-the laws of science do not change,’’ he says.

In some professions the local learning curve is steeper and longer. Accounting is one example. David Smith, a former partner of accounting firm PKF and ex-president of the Institute of Chartered Accountants, runs Smithink, a management consultancy advising accountants.

He sees the employers’ concern over communication skills of immigrants and their ability to understand the highly complex Australian tax system and superannuation laws as major barriers for accountants new to Australia.

Logan says overseas professionals need to understand that the structure of the Australian economy is “old-fashioned’’, with up to 70 per cent of businesses classified small-medium.

The accounting industry reflects this statistic. Smith suggests a typical small-business accounting firm will find it hard to embrace new arrivals who cannot hit the ground running.

Small firms struggle to verify skills, have limited resources for training and perhaps less patience for the newcomer under pressure.

There are other barriers that make it difficult for newcomers to find jobs. Smith and Little suggest that employers need to assess attitude when it comes to hiring overseas professionals, as this makes a big difference in how quickly people will adapt.

Little says employers’ rigid recruitment practices can prevent this. “Many employers are stuck in a 1980s way of thinking. In that decade there were lots of people to choose from and some fairly militant unionism. Employers found that if they didn’t select the right person [the union] would be likely to challenge. They needed a bullet-proof system.’’

She believes employers should build teams-instead of filling holes when they hire-matching weaknesses in skill sets with complementary strengths.

HR professionals would argue that recruitment processes have evolved. The larger firms often spend many thousands of dollars identifying what makes the company tick before writing it into recruitment practice, hoping to recruit candidates with the right attitude.

Yet the “right attitude’’ is nuanced, notoriously difficult to codify and assess from an appraisal of a resume and the more traditional interview.

Also keeping candidates at a distance are recruitment consultants and online resume screening software.

Many employers’ online careers pages do not have a contact name or number. It can be difficult for applicants to talk directly to someone with close knowledge of the core business who can give them a realistic appraisal of their fit.

Little sees many benefits for organisations willing to open their doors a little wider. While he has observed overseas engineers having a slower path to productivity than their Australian equivalents, he notes the longer term rewards of hiring them as a bonus.

“They are less likely to move on than an Australian hire and they have a great work ethic and less baggage from their background,’’ he says. “They bring new skills not available in Australia, and support our international operations with their knowledge and language skills.’’

Source : www.careerone.com.au

More Information  :  www.tribuslingua.com.au

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Minimum wage increases $12.30 a week

The State’s lowest-paid workers will get a $12.30 a week pay rise, in a move social advocates say will have them relying on community services more than ever.

The WA Industrial Relations Commission today handed down the 2.2 per cent increase, effective from October, saying the rise was in line with the Perth CPI.

It will take the minimum wage, which covers about 2.2 per cent of the state’s workers, to $569.70.                                         

Unions had argued for a $31 a week increase, while the Chamber of Commerce and Industry pleaded for none.

The State Government had submitted $19 a week as appropriate.

WA Council of Social Services chief executive Sue Ash said the commission was “out of touch” with community expectations.

“This decision means (low-paid workers) will bear the brunt of the economic downturn,” she said.

“The CPI is a wholly inadequate measure of the real living cost pressures and income value of minimum wage workers as it does not reflect the basket of goods that (they) have to spend their money on.”

Food prices had risen 8.6 per cent in the year to March, while housing (8.1 per cent), health services (11.9 per cent) and education (15 per cent) had far exceeded the CPI figure.

“These stark increases… mean that low income earners will be relying on community services more than ever,” she said.

Source  :   www.watoday.com.au

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CommBank cops sustained online fraud attack

Commonwealth Bank customers are being inundated with phishing attacks, some at a rate of several scam emails a day, sent by cyber criminals seeking to steal passwords and credit card details.

The scammers, who are specifically targeting the bank in a sustained assault, are bombarding customers with several clever variations of the email ruse – such as using bogus call centres – in an attempt to hook even tech-savvy web users.

The emails have largely managed to evade spam filters using methods such as images instead of text.

Commonwealth Bank spokesman Steve Batten admitted the bank was losing the war with the fraudsters, despite working closely with the Australian Federal Police’s Australian High Tech Crime Centre.

“As soon as we close them down they are opening up elsewhere,” Batten said.

This is backed up by figures from the Australian Payments Clearing Association, which reported a 33 per cent increase in both the volume and value of fraudulent online payments in Australia for the year ended December 31, 2008.

The scam emails, which look authentic and include the Commonwealth Bank’s logo, try to trick the victim into handing over sensitive information by telling them they need to unlock an account, activate a card, claim a fee refund, update internet banking details, view an important security message or complete a survey in exchange for payment.

When the victim clicks on the link in the email, they are either infected with a password-stealing virus or presented with an official-looking page that asks them to enter their details, which are then harvested by the fraudsters.

Batten said some of the emails purport to come from actual Commonwealth Bank staff members. He stressed that the bank would never ask customers to submit sensitive information over email.

But in a new variation on the traditional “phishing” attack, which usually asks victims to click on a malicious link, one Commonwealth Bank scam email asks customers to call a Queensland phone number in order to redeem a $500 “cashback bonus”.

IT contractor Tom Howard, from the Central Coast, received the email and attempted to call the number just as an experiment.

“It’s an automated system with an American accent that welcomes you to the Commonwealth Bank of Australia and then requests an account number or says something’s expired and asks for your credit card number,” he said.

The voice recording then requested Howard’s expiry date and pin number, but he just entered in random digits.

“It actually told me the information was incorrect, which suggests that it’s hooked up to a payment gateway and it’s actually trying to do an authorisation on the credit card right then and there,” he said.

Howard said he was alarmed at the sophistication of the scam and believed the bogus call centre idea would trick a lot of people.

“People have been conditioned in terms of these phishing emails to ‘don’t click on the links’, but not so much to ‘don’t call the number’,” he said.

Source: smh.com.au 

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