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Financial services industry at the crossroads
03 September 2010
Finsia - Australasia’s peak financial services professional body, called for a bold commitment to build scale and leverage to cement Australia’s leadership position in financial markets or risk being left behind on the global stage.
At the official launch of its new strategic direction, Finsia’s CEO Dr Martin Fahy encouraged industry leaders to challenge the sacred cows of Australia’s financial services landscape - a massive but passive superannuation sector, and four fully-formed, but largely domestically focused banking institutions.
For further information, click here. |
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MYOB: Business upbeat for future
03 September 2010
MYOB, one of Australia’s leading providers of business management solutions, today released the findings from the latest MYOB Business Monitor, in which 74% of businesses report revenue levels at the same (39%) or higher levels (35%) than a year ago, and the average of all revenue increases reported is 26%.
In a further upbeat sign, 47% of businesses report they expect their revenue to increase even further in the next 12 months. Adding to the positive results, almost half of businesses (49%) indicated that they have more work than usual in the pipeline over the next three months.
Tim Reed, CEO, MYOB said, “These results clearly indicate that the engine room of the Australian economy has survived the GFC and is now picking up speed. Whoever forms government must look to support this momentum with some strong first term business policies.”
For further information, click here. |
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API Magazine releases property hotspots
27 August 2010
Australian Property Investor magazine has again provided its annual guide to the hottest 100 locations around the country in its flagship edition of the year. “It’s a buyers’ market, with fewer buyers around and vendor discounting expected to increase.” says API journalist Vanessa de Groot.
A brief selection of some of the locations that qualified for API’s fourth annual Hot 100 list include:
NSW: Blacktown, Kingscliff, Maitland
VIC: Northcote, St Kilda, Warrnambool
QLD: Annerley, Gladstone, Mermaid Waters
SA: Hindmarsh, Port Noarlunga, Torrensville
WA: Busselton, Joondalup, Scarborough
TAS: Invermay
NT: Stuart Park
ACT: Bruce, Lyneham
Full details can be found in the September edition of the magazine. |
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Macquarie Relationship Banking: Market Focus 2010
27 August 2010
Macquarie Relationship Banking recently held a series of presentations for their business / relationship banking clients in the real estate sector called “Market Focus 2010”.
The presentations were hosted by Global Head of Economics at Macquarie Economics Research, Richard Gibbs and Rod Cornish, Real Estate Strategist at Macquarie Capital Advisers.
The presentation focused on the central theme “How will global economic changes impact the commercial and residential property market, and how can your business maximise the opportunities available.”
Real estate clients found the sessions of great value so Macquarie Relationship Banking have passed the Executive Summary on for you to access.
To download the Executive Summary from the presentation, click here. |
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Do you disclose information correctly?
20 August 2010
Make sure you understand the Trade Practices Act
You may have noticed recent media attention in relation to new penalties which may be imposed on real estate agents who don’t advise prospective buyers/renters about murders at the property, unruly neighbours, barking dogs or even underquoting and dummy bids.
This media attention relates to some recent amendments to the Trade Practices Act 1974 (the Act), which gave the courts the power to impose civil pecuniary penalties on businesses or individuals who breach certain provisions of the Act.
The actual rules in the Act which prohibit businesses from making false or misleading representations are not new. However, up until 2010, the courts could not impose penalties for breaches of these provisions, unless criminal action was taken against the business.
The ACCC have assisted the REIA by developing examples that make your responsibilities easier to understand. To download a full copy of the article, click here.
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