What multiple homes for sale in one street can mean

A single street, townhouse development or unit complex with several homes on the market can signal a warning. Perhaps you’ve been vying to purchase for a number of months but the tightly-held nature of the area has made it impossible, but almost overnight, for sale signs pop up simultaneously. This can prompt concern for some and for others an opportunity that creates choice and bargaining power.
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Spring is noted as the season that activates buyers and sellers. An increase in listings within a specific area could be due to the dynamics of market behaviour as well as other influences.

Despite recent reports of a quarterly downturn to Sydney house prices, it appears vendors are not discouraged. New listings have risen across all Sydney regions.

The south experienced the largest boost, jumping by 21.4 per cent annually to 1203 houses (includes houses and townhouses) listed for sale during the September 2017 quarter when compared with the September quarter of 2016.

Vendor activity in the south-west, the inner west and the west jumped about 16 per cent when comparing the September 2017 quarter with the same period last year, with 3705, 881 and 4112 houses respectively listed.

Canterbury Bankstown increased annually by 10.2 per cent to 726 houses, and the lower north shore by 9.3 per cent to 401 houses listed during the September 2017 quarter.

Increases in other areas were relatively low by comparison. The Central Coast grew annually by 5.4 per cent to 1832 houses listed in that quarter, the northern beaches grew by 4.3 per cent to 532, the upper north shore increased by 4.2 per cent to 1801 and the city and east by 3.5 per cent to 590.

The upbeat nature of new vendors in each region could be the spring effect, or the result of vendors reacting to the negative house price growth over the quarter, creating an element of urgency to enter the market before prices make any further correction. Related: Should you sell before buying a home?Related: Buyer’s agents: A major property advantageRelated: Should your home have sold already?Use a solicitor to uncover anything adverse that could affect a home’s value. Photo: Louie Douvis

Other factors, like the ripple effect, could come into play. An astounding nearby sale result that smashed price expectations can become the impetus to list.

Economic implications can also drive a surge in listings. Normally prevalent in holiday areas, distressed sales as a result of an economic downturn can mean a flick to the second home for an instant boost to finances. In the era of historically low interest rates, this is something that could occur in our ‘everyday housing landscape’, particularly for those who have financially overextended. This is not much of a concern now, while interest rates remain low, but is certainly one to watch.

Ultimately, due diligence is required for any purchase. If anything untoward occurs in a specific area – perhaps a recent development or major infrastructure approval – a solicitor should uncover anything adverse that could affect the home’s value. If something is discovered, use it as a tool to negotiate a better price.

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Newcastle Italian Film Festival 2017: seven films spanning romantic comedy, drama and classics

La dolce vita: Nick Moretti and Andrew Licata said they were proud to offer one of the few opportunities to enjoy European films in the Hunter. Guests at night screenings will enjoy Napoli Centrale pizza. Picture: Simone De PeakSTORIES about a powerful Mafia family;a dinner party tinged by secrets; and teenagers questioning their identities will illuminate the big screen at the eighth Newcastle Italian Film Festival.
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Organisers Nick Moretti and Andrew Licata expect about 1500 people to attend one or more of the seven filmsshowing during the festival, which has become a popular annual event on the region’s cinema calendar.

“There is a certain number of people who wait for it to come around and start asking when it will be on,” Mr Moretti said of their growing following. “That’s a good feeling to know that whatever it is we’re putting together is working and it’s enjoyable for people to come along.

“This isn’t a business enterprise – we just want people to feel good.”

The festival opens on November 3 with “dramedy” Perfect Strangers.It includes Where Am I Going?, which boasted the near equivalent of Star Wars: The Force Awakens’ three-week ticket sales after its first weekend showing in Italy.

It closes on November 5 with the 1960 Sophia Loren classic Two Women.

“There are more romantic comedies than other genres in the festival, but If You Tell Me is a mafia biopic and and there’s also One Kiss, which features a gay teenager,” Ms Moretti said.

The festivalalso includes the awarding of the Dino Cesta Memorial Scholarship, which will provide a student with $2500 to study writing, music, visual arts or film and television at a tertiary level.

“The scholarship keeps Dino’s name associated with the festival,” Mr Moretti said of his friend and festival co-founder, who had motor neurone disease and died in 2015.

“When I need to make a decision I still think ‘What would Dino have done?’”

All films will be shown on the ground floor ofTower Cinema and have English subtitles. Guests at the night screenings will be offered complimentary continental treats from Delikacies, Burraduc Farm buffalo cheese, Angove wine, Napoli Centrale pizza and dolci or desserts from The Umbrian.

Net proceeds go to the Motor Neurone Disease Association NSW.

Program and tickets:facebook苏州夜总会招聘/NewcastleItalianFilmFestivalorwww.eventcinemas苏州夜总会招聘.au/Cinema/Newcastle

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Farmers slam sale of Murray Goulburn to Canadian giant

The Age, News, 27/10/2017, Photo by Justin McManus. AGM Murray Goulburn dairy at the Exhibtion centre. CEO Ari Mervis.Victorian farmers have blasted Murray Goulburn over the dairy processor’s decision to sell the business to Canadian giant Saputo for $1.31 billion at a sometimes fiery annual general meeting in Melbourne.
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Murray Goulburn’s leaders were told during the meeting that their behaviour had been morally bankrupt, that they had capitulated, and they had not done enough to preserve the processor’s milk supply as farmers left and sent their milk elsewhere.

Many farmers hit out after the company told the ASX a couple of hours or so before the meeting started that it had struck a deal to sell to Saputo.

The news shocked some farmers who were not aware negotiations were so advanced. Some expressed concern that Saputo was an international player, rather than an n co-operative or company.

Paul Mundy, a dairy farmer from Cobram East, earned applause when he told the meeting the board had not made enough “of the very hard decisions that were required” to preserve the processor.

Mr Mundy, who unsuccessfully ran for a spot on Murray Goulburn’s board recently, also said: “Why is it that we have effectively capitulated?”

The proposed deal with Saputo -??? which still needs approval on a number of levels and which includes higher payments for Murray Goulburn farmers – comes after a tumultuous period for MG, during which scores of frustrated farmers switched to rival processors after it slashed milk payments.

After the AGM, in an interview with Fairfax Media, Mr Mundy said: “I believe that the board should have taken far greater action, much earlier, to secure our milk flow, milk being our most valuable asset … It appears to us, as suppliers, that there has been a lack of willingness to do so.”

Mr Mundy said Murray Goulburn could have done more to cut costs, questioning why it had rented office space in Melbourne’s Southbank. And he said the company’s “opening price” for this financial year, the amount it would pay farmers for milk, was “an absolute disaster. They should never, ever, ever have come out with $4.70 [per kilogram of milk solids]

Another farmer, Brad Adams, expressed anger at Murray Goulburn’s leadership, while grilling chairman John Spark during the meeting.

“I want to know why there has been this agenda to sell Murray Goulburn,” he said. “I want to know why, when [chief executive] Ari [Mervis] took over we had 2,200 supplier members, we had 2.7 billion litres of milk last financial year, we estimated that we had 2.5 [billion litres] for this year, yet it would appear we have done nothing to retain any of that milk.”

“Our company has now been devalued … Rightly or wrongly we’ve been ripped off. I’ve had a knot in my guts all the way down from Cobram today, and it’s about time you people took some responsibility for the decisions that you make.”

Earlier, Mr Spark defended the unanimous board decision that Murray Goulburn should be sold to Saputo.

“Unfortunately, we as a board, on behalf of the shareholders, have had to make a decision which is unpopular,” he told the meeting. “It is not the best decision that any of us would have wanted to make. But we are doing it with the best intention for all of our shareholders, and ultimately we are putting it to a vote of our shareholders to see if you wish to approve it.”

In Murray Goulburn’s ASX statement, Mr Spark said the Saputo deal represented “the best available outcome” for suppliers and investors. “MG has reached a position where, as an independent company, its debt was simply too high given the significant milk loss,” he said.

Another dairy farmer at the meeting, Tim Dwyer, defended Mr Spark, saying “you can’t run a milk company without milk”.

“It’s a very sad situation that we are in here today,” he said, adding that Mr Spark became chairman in “a very difficult set of circumstances”.

Mr Mervis acknowledged that the company’s declining milk supply had hurt it. “The reality is that when you’ve got half the milk that you had two years ago, it’s very very difficult,” he said. “You’ve got the same debt level, you’ve got the same operating costs and you’ve got half the intake … it becomes unsustainable.”

Mr Mervis said he understood that many of Murray Goulburn’s dairy farmers would be disappointed. “I recognise that many of you and your families have been involved with the co-op for generations,” he said.

Mr Mervis said Saputo had been very successful in Canada, Argentina, America and “done themselves proud here in ” after it bought Warrnambool Cheese and Butter in recent years.

In a statement released in Canada, Saputo said: “The acquisition of Murray Goulburn will add to and complement the activities of Saputo’s Dairy Division (). By acquiring a well-established industry player, the company reinforces its commitment to strengthen its presence in the n market. Saputo intends to continue to invest in its n platform and contribute to the ongoing development of its domestic and international business.”

Under the Saputo deal, farmers will receive a 40?? a kilogram of milk solids extra payment for milk supplied this financial year, and “active” suppliers will pocket an additional 40?? a kilogram “loyalty payment” in fiscal 2018 along with commitments for milk collection and market pricing into the future.

The proposed deal remains subject to approval by Murray Goulburn voting shareholders, the n Competition and Consumer Commission and the Foreign Investment Review Board.

Murray Goulburn also recorded strong protest votes at the AGM, of about 13 per cent, for the election of special directors John Spark and Mark Clark.

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Know your rights in the lead up to Boxing Day trade

Sales event: Stores will be allowed to open for trade on Boxing Day after laws passed in state parliament last month.A hotline has been established for workers and businesses to help ensure they are aware of their rights and responsibilities in the lead up to Boxing Day trade.
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Stores will be allowed to open for trade on Boxing Day after laws passed in parliament last month.

Retail workers fear thelegislationwill rob them of time with family and friends in the Christmas holiday period.

Thelegislation,now uniform across NSW,gives retailers, employees and consumers the freedom to trade, work and shop on Boxing Day.

The retail workers union–SDA– condemned the decision saying the NSW Governemnt had“disregarded clear researchand opposition from retail workers and most employers.”

“The passing of this legislation will ruin Christmas for workers and their families forcing thousands to work when they should be enjoying time with family and friends,” a SDA spokeswoman said.

“Mums and Dads who should be with their kids will be pressured back to work on Boxing Day.”

Treasurer and Minister for Industrial Relations Dominic Perrottet said the NSW Government was rolling out a comprehensive education campaign as part of the reforms to provide retail workers with the choice to work on Boxing Day.

“A two-year trial found clear support for unrestricted Boxing Day trade across NSW so that businesses outside Sydney’s CBD including those in regional centres have the option to open their doors,” Mr Perrottet said.

“As workplaces start having roster discussions now ahead of December 26, we have a package of support in place for workers and their employers.

“We want to make sure anyone with questions has multiple avenues to get the right advice, either through our hotline, web seminars or the website.

“There is a choice as to whether people trade, work or shop on one of the busiest shopping days of the year and I encourage people to make an informed decision.”

New laws provide strict safeguards to protect workers, with retailers who force staff to work on December 26 facing fines of up to $11,000 per employee.

Penalties of up to $22,000 will apply for landlords that force tenants to open on Boxing Day.

The Boxing Day Hotline number is131 628.


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Ex-RBA boss Glenn Stevens joins Millionaires Factory

Former Reserve Bank of governor Glenn Stevens is joining the boards of Macquarie Group and Macquarie Bank as the Millionaires Factory posted yet another record first-half profit.
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Mr Stevens, who was governor of the RBA between 2006 and 2016, will become an independent director on both boards from November 1, Macquarie said in a statement to the ASX.

He has been on a number of n and international boards and committees, including the Financial Stability Board, and on a range of G20 committees. As RBA boss, he led ‘s economy through the GFC, the mining boom and a record low interest rate environment.

Macquarie Group chairman Peter Warne said Mr Stevens “brings a unique perspective, not only regarding the drivers of ‘s economy, but also of the international economies from which Macquarie derives the majority of its income.

“Glenn is an internationally respected central banker who has contributed significantly to ‘s economic success,” Mr Warne said.

A spokeswoman for the bank said Mr Stevens wasn’t available for comment.

Managing director Nicholas Moore emphasised Mr Stevens would be in “very much a governance role” as a non-executive director, not an employee of the bank.

“It’s clear that Glenn Stevens as the governor has had a very distinguished career here in , and would be an outstanding candidate for any board for any, frankly, international or n company,” Mr Moore told journalists.

The appointment comes after speculation that Mr Stevens turned down an appointment on the board of the Commonwealth Bank in the wake of the Austrac allegations against the bank of breaches of anti-money laundering rules.

Reporting its latest result on Friday morning, Macquarie beat expectations by posting a record first-half profit, boosted by performance fees.

The investment bank and fund manager’s net profit for the six months to September 30 was up 19 per cent at $1.2 billion, beating the average $1.14 billion forecast of analysts according to Thomson Reuters I/B/E/S. Net operating income rose 3.4 per cent to $5.4 billion as performance fees more than tripled to $537 million. But the profit contribution from its commodities and global markets arm fell 23 per cent during the period.

Macquarie said it now expects full-year earnings to exceed last year’s record profit of $2.2 billion.

Its shares have surged more than 10 per cent since it said last month it expected a solid first-half profit. This week they hit their highest level since the government slapped its levy on the country’s biggest banks in early May.

The company also announced a 45 per cent-franked interim dividend of $2.05 per share, up from $1.90 a year ago, and flagged an on-market share buyback of up to $1 billion.

with Reuters

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