Metro Property Management

Welcome to February!

noreply@blogger.com (Metro Property Management) — Wed, 01 Feb 2012 21:52:43 PST

From the desk of Leah Calnan, Director of Metro Property Management...

This month is a month of planning for the future and to start it all off we as a team are having a day focused on building each staff member’s skill set, chatting about ideas to build Metro as a trusted brand and ideas for the day to day running of the business as a whole. I am always inspired and driven by what ideas my team have and I always like to have a ‘get together’ to see what we as a team and as individuals can get out of 2012. We learn and grow as a company by putting forth our ideas in meetings like this so I’m really excited about the ideas that will spring forth, so keep your eyes peeled for little changes you might see here and there. Speaking of changes and additions, this month also brings a few exciting staff additions and role changes.

Tamasan Freyer joined us last month as our new receptionist and has a keen interest in the Property Management industry, she loves a challenge and is enjoying being the ‘first point of contact’ for Metro and we feel she is doing a great job so far. Emma Racky has also joined our team this past month as Assistant Property Manager and she is quickly learning the fast pace of the industry as well as enjoying learning the ins and outs that come with Property Management. Emma has a strong retail management background, her customer service skills will assist her in her communications with owners, tenants and tradespeople alike. Welcome aboard Tamasan & Emma!

In other news our Senior Leasing Specialist, Samantha Taylor has recently been promoted to New Business Manager and is ‘taking the bull by both horns’. Already Samantha has taken to her new role well and I have every confidence that our new owners and investor groups will absolutely appreciate the level of service and experience in leasing that Samantha brings to the table. Well done Samantha.

Well as always February brings with it Valentine’s Day, like it or loathe it it comes around every February and I myself was interested as to how it came about...so I consulted the wonderfully useful ‘Wikipedia’...

Saint Valentine's Day, commonly shortened to Valentine's Day, is a holiday observed on February 14 honouring one or more early Christian martyrs named Saint Valentine. It is traditionally a day on which lovers express their love for each other by presenting flowers, offering confectionery, and sending greeting cards (known as "valentines"). The day first became associated with romantic love in the circle of Geoffrey Chaucer in the High Middle Ages, when the tradition of courtly love flourished. It was first established by Pope Gelasius I in 496 AD, and was later deleted from the General Roman Calendar of saints in 1969 by Pope Paul VI.

Modern Valentine's Day symbols include the heart-shaped outline, doves, and the figure of the winged Cupid. Since the 19th century, handwritten valentines have given way to mass-produced greeting cards. (Source: www.wikipedia.com )

Isn’t it funny how it has lasted and changed throughout the years.

Well a Happy Saint Valentine’s and a Happy February to you all.

Until next time....

2012 Here We Come!!!

noreply@blogger.com (Metro Property Management) — Wed, 04 Jan 2012 16:28:12 PST

From the desk of Leah Calnan, Director of Metro Property Management...

Welcome to 2012 everyone, and boy this New Years Eve (as it was last year) was certainly warm, as was the first few days of 2012. In fact, the hottest day reaching 40 degrees (Monday 2nd January) here in Melbourne. I hope you all celebrated the New Year by doing something special, in Australia that normally means a few celebratory drinks, perhaps a BBQ and watching the fireworks in our respective cities. When it comes to the rest of the world and their celebrations...some of these traditions are a little different.

In the USA of course we have all seen and heard about the famous Time Square in New York and the many people that pack the square to ‘ring in’ the New Year however we have discovered other popular new year traditions in the USA include, watching football games, crowded streets taking part in a special food called Hoppin' John, along with enjoying cakes and champagne for luck and prosperity. In India, Hindu New Year is the time of celebration. This is the time to meet and greet people, share gifts and sweets. Hindus will decorate and paint their homes, and create a beautiful atmosphere with lamps and candles in the evening. Some of the traditions followed in Hindu New Year celebrations include: buying and gifting new clothes, giving gifts of sweets to friends & relatives and worshiping Lord Ganesha and Goddess Laxmi, who are believed to bring in wealth and prosperity. In Greece the 1st day of the New Year is also known as St Basil’s Day known as one of the Greek Orthodox churches’ forefathers. Special New Year bread is also baked whereby a coin is buried in the dough which when found is considered great luck and fortune for the New Year to the owner. Now back to the land of Oz, and in case you weren’t aware, the Cricket season has begun.

Many of you will be enjoying this years ‘Vodafone Test Series’ Australia vs India, as always if you enjoy your cricket you will be appreciating the 4 test matches being held this month that began with the 1st test at the MCG (26th – 29th Dec) with Australia winning by 122 runs. The 2nd test runs 3-7th January in Sydney, 3rd test will be in Perth from 13th-17th Jan with the 4th and final test being played in Adelaide on the 24th – 28th Jan 2012. Let’s hope that Australia can come through with a win. In other team news, non-sport related we have added a new member to our Metro team.

We would like to introduce you to Emma Racky. Emma joins the team this month as Assistant Property Manager. With a strong background in customer service and retail management Emma has a passion for Real Estate and Property Management that she feels that working at Metro Property Management can provide, and we think so too. Welcome aboard Emma.

Well that is it from us this month.

Until next time…

Metro's Monthly Movie Review

noreply@blogger.com (Metro Property Management) — Wed, 14 Dec 2011 18:47:55 PST

Each month a team member of Metro will be writing a movie review to share with you. And this month team member Erin Cheasley has reviewed 'Immortals'. Director – Tarsem Singh, Starring: Henry Cavill, Mickey Rourke, John Hurt & Stephen Dorff.

The first thing that comes to mind when you see the trailer for the movie is that it is another 300 movie take off, apart from both being the sword and sandals genre and shirts were optional the director for ‘Immortals’ had a lot more visual tricks up his sleeve and took another approach with the Greek Myth concept, quite a comparison to 300.

Immortals definitely portrays a storyline of a battle between good and evil. Evil King Hyperion is leading his army of murderous mask wearing villains across Greece searching for the magical bow that will free the imprisoned Titans so they can attack the gods. Whilst the hero Theseus who is displeased by King Hyperion’s attack is going on the quest to obtain the magical bow himself, and in the end finding courage and leadership abilities within him to lead his forces of good against evil, which eventually wraps up into one big battle. A highlight of the movie are the action sequences, the Director really captured a level of gore and violence that will have anyone’s jaws drop using slow motion action, it will not only give you chills but have you at the edge of your seat.

This is an age of myth, a world where the gods are real, people have visions of the future and magic exists so this movie is allowed to look weird, mystical and over the top. If Greek mythology tickles your fancy then this is a movie I would recommend. Having a keen interest for Greek mythology and the way this movie used every aspect of what Greek mythology is, I found the movie Immortals to be a worth look (and so to the shirtless men) and it maybe even better than the movie 300.

Metro's Monthly Movie Review

noreply@blogger.com (Metro Property Management) — Sun, 20 Nov 2011 16:58:48 PST

Each month a team member of Metro will be writing a movie review to share with you. And this month team member Merryn Schmidt has reviewed 'The Cup'. Director – Simon Wincer, Starring - Stephen Curry, Brendan Gleeson, Shaun Micallef & Daniel MacPherson.

'The Cup' is based on the true story of champion jockey Damien Oliver and his inspirational ride to win the 2002 Melbourne Cup. Damien (Stephen Curry) crosses the finish line onboard horse 'Media Puzzle', and salutes the heavens as a gesture to his older bother, Jason, who died tragically less then a week prior, in a track accident.

Unfortunately, ‘The Cup’ is not going to stop the nation as the actual race does, but it is certainly an entertaining and enjoyable flick. As the film is set in Melbourne, I appreciated the familiarity of locations such as the Yarra River and Flemington Race Course and the infusion of original photographs and film footage of the Melbourne Cup history over decades.

'The Cup' is a little slow ‘out of the gates’ and moves slowly to give an insight to the danger, the early starts, the half starving themselves, and the dedication jockeys, trainers, strappers and the like give to their careers, all so we can be enchanted by these majestic animals as the thunder down the track for our entertainment.

Released with perfect timing, during the Melbourne Spring Racing Carnival, ‘The Cup’ may attract good odds, but I have to say it is not a must see on the big screen. When you do see this film be warned you will require a tissue or two.

- by Merryn Schmidt

Twilight Opens begin, the Excitement of the Home Buyer Show & the release of our iPhone App is Close!!

noreply@blogger.com (Metro Property Management) — Wed, 12 Oct 2011 17:36:53 PDT

From the desk of Leah Calnan, Director of Metro Property Management...

So October has rolled around and with it has come Daylight Savings which we love. More time in the afternoon to do outdoor activities and enjoy the warm weather (when the warm weather decides to pop up) and for Metro it means the beginning of our Twilight Opens for Spring/Summer. During certain weeknight evenings we are now able to show potential tenants more properties during the week which is great news for both our Tenants and Owners. These times, we have been told, are often more convenient for 9-5 workers as it means their weekends are left free to enjoy the sunshine rather than searching for their new homes, if that is what they would prefer.

In other news we recently attended the Home Buyer and Property Investor Show where we had a fantastic stall dressed in our eye catching Metro colours and enjoyed interacting with all of the people that came to the show be they current owners, tenants or brand new contacts that were simply interested in how we could manage their properties better and how we differ from other agencies. We handed out 250 Metro show bags (which was up from last year) and had much fun engaging with new people with a keen interest in what we do. We felt it was a busier year this year than last but we have yet to receive the attendance numbers from the event co-ordinators, either way there are plenty of people out there seeking investment properties.

Speaking of the purchase of investment properties... we held our final Self Managed Super Fund seminar for 2011. Many attended and really enjoyed it and felt they learnt something new, which was great. If you missed out feel free to contact my assistant Melissa Venn on 03 9831 3006 or via email at melissav@metropm.com.au , she can pass your details on to Nicholas Don of Metro Wealth who hosted the evening. Nic can offer you an obligation free Personal Review in which he will run through the benefits of SMSF with you on an individual basis and assess other financial matters that perhaps could be improved.

Also this month we will see our MetroPM iPhone application be released onto the Apple iTunes store for our clients and friends to download. We are in the final stages of approval and we will advise you as soon as it is released via our website, Facebook and Twitter so that you can be the first to use it and rate it! We think you will really enjoy the features that will assist you whether you are a current tenant, owner, investor looking to lease their property or a tenant looking for a new home. We will keep you posted as always.

Until next time...

No 'Fence-Sitting' when it comes to Feedback

noreply@blogger.com (Metro Property Management) — Wed, 21 Sep 2011 23:45:14 PDT

From the desk of Leah Calnan, Director of Metro Property Management...
Recently I came across an interesting Blog from a marketing guru I follow named Seth Godin, a really interesting guy with some interesting ideas on all things marketing. Seth believes in advertising with a conscience and that businesses need to earn buzz by being remarkable, which is a principal I agree with entirely.

Below is his latest blog:

"Please complain"

Acquiring and processing user feedback is a choice. There are good reasons to hide from it:

You might believe that inviting disgruntled customers to call or write to someone who will actually take action will encourage them to become more disgruntled. If no one is listening, the thinking goes, then perhaps the annoyed will quietly go away.
You might believe that it's expensive to listen to squeaky wheels, particularly if you have someone in authority (as opposed to a low-paid clerk) actually listening and responding.
You might believe that the noisy minority don't share the objectives of the rest of your audience, particularly the higher-paying and silent majority.

On the other hand, you might believe:

That direct feedback in real time is a competitive advantage which will help you grow.
That assuaging an unhappy customer now is worth way more than negative word of mouth later.

Whichever strategy you choose, you should choose. It's the middle way that vexes... the pretending, the grudging acceptance, the insertion of many levels of filters - when you do this, you get none of the benefits of either plan.

If you want people to speak up, be clear and mean it. If you don't, don't pretend.

(If you'd like to follow Seth's blog visit http://sethgodin.typepad.com/)

And out of the cold we come...

noreply@blogger.com (Metro Property Management) — Sun, 11 Sep 2011 17:51:53 PDT

From the desk of Leah Calnan, Director of Metro Property Management...

So here we are in September & SPRING! and goodness hasn’t the year flown already! Lots happening at the office this month, to begin with I decided to surprise the team with a Team Appreciation Day which we were all very excited about (myself included). At the recent REIV Property Management Conference we heard from many innovative and inspirational speakers one of which had the idea to surprise your dedicated team, not just at Christmas or the End of Financial Year but unexpectedly throughout the year. So we had a lovely lunch and a movie as a way of saying thank you for all of the hard work they put in, day in and day out. It has been a big couple of months which is great and this was a lovely treat, we had lots of laughs.

The end of August saw my assistant Melissa and I attend a very interesting conference on Social Media, we had heard a few speakers talk on Social Media over the past few years however this seminar was a little different. The speakers were from America and seemed to have a broader insight into what was working and what was not and how people use social media today to not only to talk to friends and family but to investigate property, review their experiences and interact daily with their favourite companies.

We will be implementing a few new programs to assist our clients and tenants with regards to Social Media (although as most of you know we have a Facebook & Twitter account along with a Blog, the links are on the home page of the website), we see this as a way of the future, not just a fad and we love to embrace new technology here at Metro. In fact, we are very close to the release of our iPhone application which you will find has great functionality for both tenants and owners alike...exciting stuff.

In other news we are beginning to get organised for our Home Buyers & Investors Show stand on the 7th, 8th & 9th of October. Last year was a great experience and we met many new and current owners there at the show so why not come and say ‘Hi’ again this year. We have a limited number of free tickets this year so please contact Melissa at melissav@metropm.com.au if you would like a couple posted out to you in the coming month so that you may attend.

Until next time...

Spring is Nearly Upon Us!

noreply@blogger.com (Metro Property Management) — Thu, 04 Aug 2011 00:29:57 PDT

From the desk of Leah Calnan, Director of Metro Property Management...

Before & After Pics of Reception Area

Wow so it is August and isn’t it a little warmer? And with the sun setting a little later in the day it feels like Spring is just around the corner. Spring cleaning is already happening at our office, to be exact a freshening up/renovation of our reception is starting to come together. Gone is the pink and purple carpet and we are loving our beautiful new tiles and the repositioning of the reception desk means more room for our new client couch and chairs which we will have very shortly. We have had some lovely comments so far and we will continue with carpet replacement throughout the office in the coming months.

In other news at Metro as mentioned last month myself and Samantha Taylor of our office will be attending the ARPM Conference in Sydney this month. Speakers include professionals like Fiona Blayney, Director of her own real estate business development and recruitment firms and highly sought after speaker who’s energy and passion never cease to amaze me, Paul Tonich who will speak on Social Media and it’s impact, Jonathon Handford - Managing Director of Newman Estate Agents who will speak on the UK’s approach on property management and then there’s James Castrission & Justin Jones who became famous for crossing the Tasman Sea in a kayak who will speak on their challenges and how to overcome adversity. These are just a few of the speakers and their topics so as you can see it will be a real mix of ideas which is really very exciting and we hope to get a lot out of our time there.

A couple of months ago now I gave an interview for which myself and the team were filmed for Business Victoria they approached me as they had discovered that our team had embarked on some tailored Customer Service based training last year and were interested in our team culture for a short video for their website (known as a Vodcast). My assistant Melissa and I attended the launch of this Vodcast and it was great to see and meet the other businesses that were involved in other Vodcasts being launched. There were so many different ideas and great advice given that other small to medium businesses can access via these Vodcasts that will be put online shortly, we will of course keep you posted of the link once they are up. Some of my team were quite shocked to learn they could soon be ‘stars’ as around 800 people per month had viewed the previous series of Vodcasts on the www.business.vic.gov.au website.

And finally a big thank you to all that came along to our recent Self Managed Super Fund Seminar and for all of your fabulous feedback. I was so thrilled that so many of you attended and got so much out of listening to Nicholas Don from Metro Wealth and his colleague Paul Kusli on the night. I wish you all the best in continuing to grow your wealth and am happy to have introduced you all to some new ideas. Again, we will keep you posted on our next Seminar evening in the near future.

Until next time...(enjoy the warmth, albeit temporary)

The Question: “I’m Bored, What Can We Do Today?”

noreply@blogger.com (Metro Property Management) — Wed, 13 Jul 2011 20:54:27 PDT

From the desk of Leah Calnan, Director of Metro Property Management
With the school holidays coming to a close this weekend you may be asking yourself “What else can I do to entertain the kids?” (or maybe they are asking you?). Well we have found a few relatively inexpensive things to do to keep them active and occupied.

Firstly there is ‘The Enchanted Maze’ garden located at Arthurs Seat. Four mazes for you and the kids to get lost in (and hopefully find your way out of by dinner time!) It is something many children may not have experienced and so much fun will be had. Not only do the different mazes have different points of interest for the kids, ie: finding the 5 Buddhas in the Hampton Court Maze or stopping off to play on the beach hut and pier, complete with sandpit in the Turf Maze Labyrinth, but there are also plenty of other activities including an area with brain teaser challenges, a small animal farm, sculpture park which has large sculptures carved out of tree stumps and plenty of interesting little gardens for you to enjoy. There’s even a cafe if you don’t wish to bring along your own picnic. For more information visit their website at http://ow.ly/5E5Dk

Our second idea is to take the kids to the ‘St Kilda Adventure Playground’. A great playground full of different things for the children to jump, climb, run and swing from. There’s a big aeroplane, wooden horse with saddle, big metal slide, trampolines, go-kart path, a small basketball court, they can ride on a dinosaur, have a zip on the flying fox, play on the pirate ship, big tepee and a big wooden castle. Open 10am - 5.30pm on weekends it is staffed & tea and coffee is provided. Again, for more info visit http://ow.ly/5E5dJ

Lastly have the kids ever ridden a pony? Well now’s your chance to take them. ‘Ace-Hi Ranch’ is a large property just south of Rosebud in the Mornington Peninsula. The experience is that of the Wild West and as for the kids they will just love it. They cater for all age groups and levels of horse-riding experience (or lack thereof!). Take a pony ride, a scenic horse ride or even a bush ‘n’ beach ride. The ranch also includes a free range style of wildlife park set on 10 acres and gives all visitors the chance to view their native animals in their typical surroundings. They have over 14 varieties of birds including- Emu's, Parrots, Cockatoos, Peacocks & Fowl. Visitors are welcome to feed & pat their furry friends - Koala's, Wombat's, Kangaroo's, Wallaby's, Deer & Dingo's.... a very cool experience for the kids to go to back to school and tell their friends about. Visit http://ow.ly/5E5CL

So there’s our Top 3 ideas, we hope you enjoy them and if you don’t get a chance to do them these holidays maybe keep them in mind for the next lot of holidays when you are asked the age old question “What can we do today?”.

Until next time.....

Busy Bees this July!

noreply@blogger.com (Metro Property Management) — Sun, 03 Jul 2011 20:25:43 PDT

From the desk of Leah Calnan, Director of Metro Property Management...
And here we are at July. As usual much has been happening and will be happening this month here at Metro PM. The first weekend of July saw the team head out to the Red Emperor for a beautiful Chinese banquet as a reward for all of their hard work this year. Many laughs and stories were told and a great time was had by all.

Leah & Matt

Rebecca, Eleanor & Melissa

Josh, Hayley, Tracey & Dave

June, Chen, Rod & Merryn

Peter & Jan

This month we continue with the office renovations – out go the carpets in the foyer and meeting rooms and in goes the crisp white tiling and funky new seating for our guests. Later in the month we will be also carpeting throughout the office entirely which will be lovely as we have lived with the pink, grey and mauve carpet for quite sometime now and you know what they say, ‘a change is as good as a holiday’.

Our team have been busy little bees as it’s all hands on deck putting together our End of Financial Year Packs from the 1st July onwards and we aim to have them all out by the 14th of this month, so keep an eye out in your mail box. In your specialised EOFY folder you will find the Annual Statement for your property/s 2010/2011, as well as some information on Metro Wealth and a handy checklist to help you prepare for your tax return.

In other news Samantha Taylor from our office and myself will be off to Sydney early August to attend a fantastic event called ARPM or the Australasian Residential Property Management Conference. The event runs over 2 days and I am looking forward to hearing from some world class property management and real estate gurus. I am also excited about discovering what fantastic new ideas myself and the team can implement into Metro Property Management in order to keep us at the top of our game in providing the best possible service to our clients. So we’ll keep you posted of what comes about from our little trip interstate.

Until next time...

Don’t Rest on Your Laurels, Be Proactive with Your Finances!

noreply@blogger.com (Metro Property Management) — Wed, 08 Jun 2011 21:17:42 PDT

From the desk of Leah Calnan, Director of Metro Property Management...

In this blog I thought I’d take the time to let you know about a fantastic service we have started to offer this year called Metro Wealth, some of you may already have read about this service but for many of you this may be the first time you will have heard about it and boy we have seen some fantastic results for our clients.

Metro Wealth is a joint initiative between Metro Property Management and Nicholas Don of Odyssey Financial. This new business has been established to assist Metro owners (and those interested in allowing Metro to become their Property Manager/s) in achieving the best possible results from their current property investments and improving their current position.

Instead of having to visit a number of separate and different business’ and service providers, then having to try to co-ordinate each piece of advice and assistance themselves, Metro Wealth is able to provide a holistic solution with one main point of contact for its members. Metro Wealth have assembled a team of professionals to assist with everything financial from initial advice through to implementation of a financial plan to ongoing management and then to annual or more regular reviews.

As a member you are entitled to a complimentary membership package which will provide all of the necessary products and services, from financial planning, mortgages, superannuation and tax advice. Metro Wealth also has exclusive access to many amazing brand new properties that you may be interested in purchasing.

I am so pleased to let you know that already this year over 80 people have already joined Metro Wealth. Those clients have had a review of their current situation and financial position along with many purchasing another property. These clients were never aware they could afford to make a purchase until they sought the assistance of Nicholas Don and the Metro Wealth Team.

If you yourself would like to become a Metro Wealth member, visit http://www.metrowealth.com.au/ or simply contact me on (03) 9831 3000 to chat about it further or email me at leah@metropm.com.au

Until next time...

Leah Calnan

The Launch Day of 'AMIA' Apartments - Brunswick

noreply@blogger.com (Metro Property Management) — Tue, 31 May 2011 21:32:02 PDT

From the desk of Leah Calnan, Director of Metro Property Management...

Well the time has finally come for us to launch the fabulous AMIA Apartments to the public this coming Saturday the 4th June from 11.00am - 12.30pm.

Come and enjoy a morning coffee, tea or hot chocolate on us from the coffee cart whilst you decide which apartment you’d love to make your new home! Brand new apartments in a designer complex in the central hub of everything that Brunswick has to offer! These luxurious 1 & 2 bedroom apartments grant a superior level of peace, privacy and exclusivity. Open plan living, quality galley-style kitchen with dishwasher, modern bathroom, separate laundry and private balconies. There is a selection of different styles, floor plans & levels available.

Many of the Metro team will be there on the day to greet you with an AMIA/Metro Promo Bag containing all you will need to apply for these fantastic properties - applications, floor plans as well as some goodies such as a Metro shopping bag, jelly beans and various info and vouchers from local businesses surrounding AMIA are all included.

We hope to see you there and should you have any further queries on the apartments please do not hesitate to call our Leasing Specialist Samantha Taylor on 0434 313 588 or 9831 3000 or visit http://www.metropm.com.au/ for more information.

Until next time...

New Additions to the Team & an Exciting New Development in Brunswick!

noreply@blogger.com (Metro Property Management) — Mon, 02 May 2011 19:37:36 PDT

From the desk of Leah Calnan, Director of Metro Property Management...

Well April passed as quickly as it had come and now here we are in May.

This past month we have added a couple of new members to the Metro team. Karli Wise and Danielle Burian, they each join us in an ‘Assistant Property Management’ role and we are thrilled to have them both on board.

Karli has a strong background in real estate having previously worked for many years in customer service/admin across different roles & fields including a stint in commercial real estate. Karli enjoys a busy and fast paced environment, which she feels Property Management offers and boy is she right, you are never twiddling your thumbs in Property Management!

Danielle also comes to us with experience in both reception and customer service within the Real Estate industry, she holds a Bachelor of Business as well as recently completing her Agents Representative certificate. Danielle has a passion for property and she has attended a few investment & property seminars in the past, these have opened her eyes to many potential investment opportunities. Danielle says that her Business degree has given her an “in-depth knowledge of economic and social aspects of business that I feel will assist me in my role here”.

In other news Metro is excited to be launching the completion and subsequent leasing of ‘AMIA’ in Brunswick another fantastic development by Caydon, the team that brought us ‘The Marque’ apartments in Collingwood late last year (of which we lease and manage just under 50 apartments). Metro will be holding an official launch day on Saturday the 4th of June so if you are keen to be one of the first to register to see these apartments on their very first open day then please just email Samantha Taylor our Leasing Specialist for this building at samanthat@metropm.com.au or call us on 03 9831 3000. To see some of the fantastic floor plans that will be on offer for lease with Metro please take a look at http://www.amialiving.com.au/ you won’t be disappointed.

And finally just a tip from us to start organising yourself for the End of Financial Year, yes it’s fast approaching. As usual if you are an owner of ours you will be receiving your ‘End of Financial Year 2010-11 packs’ with the help of good old ‘Australia Post’ by the 14th of July this year.

All in all another busy month here at Metro.

Until next time...

Oscars, SchmOscars! REIA & LPMA Award Nights are Better!

noreply@blogger.com (Metro Property Management) — Thu, 07 Apr 2011 23:21:39 PDT

It has been a whirlwind couple of weeks here at Metro with award nominations left right and centre which has been fantastic for myself and the team.

Frocked Up!

Last Thursday evening myself, my husband and several of my team flew up to the Gold Coast to attend the REIA Awards for Excellence (a national real estate award night) where I was deemed a Finalist in the ‘Residential Property Manager of the Year’ award. Due to the fact that I had won the Victorian award for this category in October last year I was thrilled to discover I had become a Finalist in these National Awards. The evening was a gala event and we all ‘invested’ in some fabulous dresses and gowns especially for the evening which took place in the ballroom at the Marriott Resort & Spa in Surfers Paradise. There was some stiff competition for the title as 6 other fabulous women were nominated and unfortunately we did not come away with a win this time, ah well, we look forward to next year. A great time was had by all, we looked fabulous (if I do say so myself) and we certainly danced the night away.

No sooner had we returned to the cooler climate of Melbourne a few of the team including myself were off to the LPMA (Leading Property Managers of Australia) Conference which runs a 2 day Property Manager & Principals Forum once a year. Within this forum Principals and their PM’s are witness to some fantastic industry presenters and new innovations in our field. It is a great eye-opener and we always come away with some great ideas that we will no doubt be implementing here at Metro in the upcoming months. Day one at the LPMA closed with their Annual Awards evening where we discovered that we were one of only 3 Finalists for ‘Excellence in Business Development’ a fantastic result and a great surprise (I was presented with a lovely trophy too!) Again much dancing and fun were had, so a great night all in all.

Myself & some of the team that attended the LPMA Awards

Coming so close to a win with both of these award evening amongst our peers in the industry really cemented for me that the hard work and dedication that myself and my team put into taking care of our clients is recognised by our colleagues in the industry, which is very humbling. So we now look forward to the rest of this coming year and strive to continue to ensure our clients have the best advice and service from Metro PM and we will let the dice fall where they may next award season.

Until next time...

A Caramel Filled April!

noreply@blogger.com (Metro Property Management) — Mon, 04 Apr 2011 23:16:41 PDT

From the desk of Leah Calnan, Director of Metro Property Management

Well it has been a productive month here at Metro and with another bumper month to come too!

Recently the team attended a full days training session here at the office with the fantastic Fiona Blayney (of Blayney Potential Plus). Fiona has such energy and enthusiasm for Property Management it was hard for the team not to get excited about what Fiona had to impart upon us all! I have noticed the change in the team already, communication is even better, each team member’s organisation has improved and as a result the vibe of the office is even more positive than before.

This coming month we are attending the 25th Melbourne International Comedy Festival http://ow.ly/4pdJ1 as we tend to do every year and we as a team are going to see the very talented Eddie Perfect with a pre-show dinner at the Red Emperor..delish! Our social calendar is also circled for Sunday the 17th April as we attend & support the Warwick Foundations “High Heel Race 2011” at Whitten Oval, Footscray. (The Warwick Foundation raises funds for young adults with cancer and their support networks). Lot’s of laughs will be had as we race as the ‘Metro Team’ in high heels and race attire, fascinators and all to contend to win the coveted 1st prize. We’ll keep you posted on how we faired on the day and keep an eye on facebook too as you may even get to share in our silly photos too. If you’d like to attend the day too please see the following link and get a group together for a fun day http://ow.ly/4pe5l

In other news I was very excited to be recently quoted in an article in The Sunday Age (3/4/11) regarding the changing face of renters and in particular the new breed of ‘lifestyle renters’ that are forming in the marketplace. If you would like to read the article that also queries builders and architects on what the ‘lifestyle renters’ are looking for in an inner city pad these days please do so here http://ow.ly/4sklz

Easter is again upon us and we thought we’d inform you all of our opening hours over the Easter break. Below are our trading hours over this period:

Thursday 21st April: 9.00-5.30pm (as normal)

Friday 22nd April (Good Friday): Closed

Saturday 23rd April: Closed

Sunday 24th April (Easter Sunday): Closed

Monday 25th April (Easter Monday): Closed

Tuesday 26th April (Anzac Day): Closed

Wednesday 27th April: 9.00-5.30pm (as normal)

So all in all a caramel filled April, much like the easter eggs we will be (or already have begun) eating.

Until next time...

Purple is in!

noreply@blogger.com (Metro Property Management) — Thu, 24 Mar 2011 20:31:36 PDT

From the desk of Leah Calnan, Director of Metro Property Management

We here at Metro love to support a great cause and tomorrow (26th March) is Purple Day. People from around Australia and the world are asked to 'Go Purple' and spread the word about the brain disorder known as epilepsy to reduce the stigma and show support for people living with epilepsy..

The following is information about the day from the www.everydayhero.com.au website:

Purple Day was founded in 2008 by then nine-year old Cassidy Megan of Nova Scotia, Canada. Motivated by her own struggles with epilepsy, Cassidy wanted to do something to get people talking about epilepsy and seizures, and to let others with epilepsy know that they were not alone. So with the help of the Epilepsy Association of Nova Scotia, Cassidy's idea became the Purple Day Epilepsy campaign.

In 2010 over 100,000 people from around the world, including school students, wore purple on 26 March. Hundreds of workplaces and community groups also joined the campaign, wearing purple to work and hosting Purple Day events.

All united to help spread awareness of epilepsy and show their support for those living with the brain disorder.

That is why this year the Epilepsy Foundation of Victoria has joined other epilepsy associations from across Australia and the world to make Purple Day for Epilepsy 2011 an even greater success.

So please join us on 26 March and help spread awareness of epilepsy in your local community. Go Purple - wear purple, decorate your home or office in purple, host a Purple Day event.

For more information on Purple Day for Epilepsy and if you wish to donate visit http://ow.ly/4m18x

Until next time...

Australian House Values...What is the Real Story?

noreply@blogger.com (Metro Property Management) — Wed, 09 Mar 2011 21:24:22 PST

From the desk of Leah Calnan, Director of Metro Property Management…

Reports on declining Australian house prices are not as bad as they seem, when you look into the ‘facts’ that is. James Kirby from ‘The Age’ delves further into the accuracy of these reports and the reality of current and future housing values. We thought it was an article worth pondering…

Don't Believe the Reports on Australian House Values
by James Kirby (Article Dated 6/3/11 Source: http://www.theage.com.au/ http://ow.ly/4bp6d)

Are they all wrong? The IMF, the OECD and now, ladies and gentlemen, those anonymous analysts at The Economist who have branded Australia 'the most overvalued housing market in the world'?
It's quite a call - our house prices are more overvalued than anywhere you'd like to name - Shanghai, Sweden or Switzerland. According to The Economist Australia's home prices are 56.4 per cent overvalued. And that's comfortably above the second-highest figure of 53.7 per cent in Hong Kong.

We stand in contrast to the US where the top 10 cities are approaching fair value at 3.7 per cent overvalued, and in wild contrast to Japan, which has been going nowhere since the early 1990s and is now estimated at 35 per cent undervalued.

These reports - and they are now as regular as Charlie Sheen meltdowns - understandably spook us in a land where the bulk of family wealth is in the home. And if it is beyond dispute that Melbourne and Sydney homes cost more than Hong Kong homes, then we are in a bubble.

But hold it one second … what exactly did The Economist measure? The ratio of home prices to rents in 20 economies.

It's a single measure - and a leaky one at that.

You could simply say Australia tops The Economist list because our average rents are too low - rental yields have remained unchanged at about 4 per cent for many years, though they are beginning to rise.

More likely our home values are justified by one of the best economies in the developed world - even if it is a two-speed model in which mining industries thrive and other sectors struggle. And that's before you factor in the exceptional tax shelter encased in the family home along with the concentration of our populations in four cities.

What's more, the factors that could start to immediately move prices - higher or lower - are dormant. Investors as a proportion of the market have remained unchanged since the GFC while the housing shortage remains virtually static.

Paul Braddick, head of property research at ANZ, points to lower home approvals. In trend terms, home building approvals have been falling for nearly a year, although it has to be said the most recent statistics on home building approvals have been skewered by the Queensland floods crisis. Indeed, the floods highlight the problem with housing statistics. The statistics are riddled with localised exceptions.

When you start comparing international house prices, the problems are enormous.

Back in the domestic market, the median dwelling price in Australia today is about $412,000, which is useful to almost nobody. If you are looking for a home in Sydney's harbour suburbs the average price belongs to another planet; if you want a house in rural Victoria the same holds true.

It's clear the factors driving the housing market have been stalled by successive interest rate rises.

But there are few signs that prices are now going to plunge.

It is much more probable that they will drift for at least a year after slipping by an estimated 1 per cent in the 12 months to January. And this is not a bad outcome for most homeowners whatever this report or the next report might care to say.

A Happy Valentine’s to All!

noreply@blogger.com (Metro Property Management) — Sun, 13 Feb 2011 14:52:25 PST

From the desk of Leah Calnan, Director of Metro Property Management…

Although many of us think that Valentine’s Day was a holiday made up by the greeting card companies, chocolate companies and florists of this world, the history of Saint Valentine’s Day is quite interesting and dates back to Roman times. There are however quite a few different legends surrounding the day as you will read below but before you get started we thought we’d give you a few interesting facts about the day...

Did You Know …

- 141 million Valentine's Day cards are exchanged annually, making Valentine's Day the second-most popular greeting-card-giving occasion. (Hallmark Research)

- Over 50 percent of all Valentine's Day cards are purchased in the six days prior to the observance, making Valentine's Day a procrastinator's delight. (Hallmark Research) (Well we understand it can be a hard & very considered decision for some).

Saint Valentine’s Day History (Source www.history.com)

The history of Valentine's Day — and its patron saint — is shrouded in mystery. But we do know that February has long been a month of romance. St. Valentine's Day, as we know it today, contains vestiges of both Christian and ancient Roman tradition. So, who was Saint Valentine and how did he become associated with this ancient rite? Today, the Catholic Church recognizes at least three different saints named Valentine or Valentinus, all of whom were martyred.

One legend contends that Valentine was a priest who served during the third century in Rome. When Emperor Claudius II decided that single men made better soldiers than those with wives and families, he outlawed marriage for young men — his crop of potential soldiers. Valentine, realizing the injustice of the decree, defied Claudius and continued to perform marriages for young lovers in secret. When Valentine's actions were discovered, Claudius ordered that he be put to death.

Other stories suggest that Valentine may have been killed for attempting to help Christians escape harsh Roman prisons where they were often beaten and tortured.

According to one legend, Valentine actually sent the first "valentine" greeting himself. While in prison, it is believed that Valentine fell in love with a young girl — who may have been his jailor's daughter — who visited him during his confinement. Before his death, it is alleged that he wrote her a letter, which he signed "From your Valentine," an expression that is still in use today. Although the truth behind the Valentine legends is murky, the stories certainly emphasize his appeal as a sympathetic, heroic, and, most importantly, romantic figure. It's no surprise that by the Middle Ages, Valentine was one of the most popular saints in England and France.

Whatever it is you decide to do to celebrate the day we at Metro hope you have a great day (& get spoilt too).

Until next time…

It’s Australia All Round!

noreply@blogger.com (Metro Property Management) — Mon, 24 Jan 2011 22:06:57 PST

From the desk of Leah Calnan, Director of Metro Property Management...
Well as most of you will be aware (we hope) it’s Australia Day tomorrow and we hope that you all have something fantastic planned with your friends and family. On Australia Day every year we come together as a country and celebrate our diverse society, landscape, our remarkable achievements and look ahead to the future as to how we can improve this great country of ours in the future.

Many events are happening around the nation tomorrow (on http://www.australiaday.vic.gov.au/ you will find the Victorian events) and you will find in true Australian spirit many of them raising funds for the Queensland Flood Victims in many inventive ways! The http://www.australiaday.org/ website tells us that there will be a national campaign for ‘floodraising’ via the ‘Australia Celebrates’ television program broadcast nationally on ABC 1 at 8.30pm on the 25th of January, dig deep for your fellow Aussies now won’t you. (Remember you can also donate directly at the Premier's Flood Appeal via www.qld.gov.au/floods/)

In other news about Melbourne, the television, news and general vibe of Melbourne has been all about the ‘Australian Open’. As I heard one commentator state this morning that it’s not very ‘Australian’ at the moment, seeing as there are no longer any Australians left in the competition. However, there is still some exciting tennis to see yet, as tomorrow sees Kim Clijsters take on Agnieska Radwanska for a place in the semifinals. In fact in an article dated 25th January 2011 on the Australian Open official website by Alix Ramsay (http://ow.ly/3JAWD) states that…

She may be many people's favourite to win the title and, in the absence of any Australian players, she may be the darling of the Australian crowd - everyone loves “Aussie Kim” - but as Kim Clijsters was keen to point out after reaching her sixth quarterfinal at the Open, she is not Superwoman.

"I'm not Superwoman," she said, smiling from ear to ear. "Look, I probably have the fullest box of anyone. I have a nanny (Clijsters takes her 2yr old Jada with her wherever she travels) , a great team around me. We are all a great bunch of friends and we take it as a great adventure, ever since I came back. I hope I can make it continue for a while longer."
Well we think she is a Superwoman anyhow, good luck Kim.

And whatever you all get up to tomorrow we at Metro hope you enjoy your Australia Day.

Until next time…

Happy New Year & "No Tan Jan"

noreply@blogger.com (Metro Property Management) — Mon, 10 Jan 2011 20:27:37 PST

From the desk of Leah Calnan, Director of Metro Property Management...

Well it’s the New Year 2011 and we are off and racing like most of you out there and feeling a little more refreshed. The office is a buzz with plenty of properties to lease, twilight & weekend open homes are in full swing and the listing of numerous new properties from existing as well as brand new clients. We are also gradually updating the interior of our offices with new painting, tiling, carpet & a kitchen upgrade which all make an exciting start to the year.

As you would know by now when we see a fantastic cause we like to get right behind it and this month we are supporting “No Tan Jan”. For the month of January we are encouraged by the Warwick Foundation to give up tanning (in the sun & with the use of solariums) for good and change the way Australians view tanning in general. The foundation is Australia's first and only organisation focused on supporting 18 - 40 year olds with cancer. They are encouraging us this month to “Fake It! Don’t Bake It!”

Their website (http://ow.ly/3BwqT) states that ...sadly, melanoma is the most common cancer for this age group and we want that to change! ‘No Tan Jan’ is all about ditching the solarium, breaking up with sun baking and embracing fake tan for the month of January. At the same time you will raise much needed funds for all young adults with cancer.

Being part of “No Tan Jan” is so easy! You just need to register, set up your personal fundraising page and give up solariums and sun baking for the month of January. If you must have a tan, then make sure it is fake.

The Warwick Foundation asks you to have your family, friends and co-workers to sponsor you for encouragement! This will not only help you kick the habit for good and decrease your chances of developing skin cancer, but you will also be supporting all young adults with the disease.

There are many companies willing to donate proceeds from spray tanning and related products to the foundation so check out the companies involved and purchase your products from them http://ow.ly/3BxlT .

If you’d simply like to donate to this foundation to support this specialised group of 18-40 yr olds living with cancer then please go to this page http://ow.ly/3BwwO and simply make your donation.

And remember it is important to get your fake tan right! As the Warwick Foundation state on their site you don’t want to end up looking like bad fake tan victims Donald Trump or Paris Hilton, worse still with a real tan like Donatella Versace!!!

Until next time...

A Merry Christmas & Happy New Year to all!!!

noreply@blogger.com (Metro Property Management) — Tue, 21 Dec 2010 16:25:48 PST

From the desk of Leah Calnan, Director of Metro Property Management…

Well can you believe it, it’s that time of year again, Christmas! It has snuck up on us again but it has been a great year here at Metro that’s for sure.

This past month our team and their respective partners had our Christmas Party, a weekend away in lovely Queenscliff, a beautiful town that we think everyone should visit.

We stayed in the grand old Queenscliff Hotel with its antique furniture and ‘Olde World’ feel, so very lovely. Being such a big group some of us stayed at Athalstane House which by all reports was a relaxing bed & breakfast style of hotel with all the mod cons. We surprised the team with a game of Lawn Bowls in the afternoon complete with prizes for the winners (pink glittered lawn bowls) and for the runners up a copy of the ‘Crackerjack’ DVD. We also had a delicious 3 course dinner and drinks at the Ripview Bistro and the following morning a fabulous buffet breakfast back at the Queenscliff Hotel, although there were a couple of us with sore heads. So all in all a fantastic time was had by all.

So it’s back into the swing of things and our offices are open over the Christmas and New Year Period, our opening hours are below…

Friday 24th December - 9am to 1pm
Saturday 25th December - Closed
Sunday 26th December - Closed
Monday 27th December - Closed
Tuesday 28th December - Closed
Wednesday 29th December - 9am to 4pm
Thursday 30th December - 9am to 4pm
Friday 31st December - 9am to 1pm
Saturday 1st January - Closed
Monday 3rd January - Closed
(NB: We resume our normal business hours 9.00am-5.30pm on Tuesday 4th January 2011)

We all hope you have something fantastic planned for New Years Eve this year and we have heard of a couple of great family friendly events being held in and around the city. One of them being the Free Family Friendly event at Yarra Park from 6pm-9.45pm include roving performers, rides, kids activities, workshops and headline acts on the mainstage. Families are encouraged to bring a picnic rug and relax on the grass to countdown to the 9.15pm fireworks. There is also the family friendly event at Waterfront City at Docklands, for more information on both of these events please visit http://ow.ly/3sS7k .

The team at Metro Property Management would like to take this opportunity to wish you all a very Merry Christmas and a safe, happy and successful New Year in 2011.

Until 2011…

December and Summer Begins

noreply@blogger.com (Metro Property Management) — Tue, 30 Nov 2010 21:57:01 PST

From the desk of Leah Calnan, Director of Metro Property Management…

And so it’s the 1st day of Summer and it’s raining…ah Melbourne…

Only 24 days until Christmas and we here at Metro are excited (& a little frightened), the tree has gone up in the office today already!

This month our team has been given $100 each to shop for gifts for the Kmart Wishing Tree, it’s a Christmas tradition now and the team just love it! It’s always a competition to see who gets the most and most interesting gifts for all ages, so far the pile is huge! My boys will come into the office and ‘test drive’ them and then each member has nominated a store nearest to them to take the gifts to, so that our gifts are given to the different charities supported by the various Kmart stores.

In other news Metro Property Management turned 4 today and we have celebrated with a pizza lunch for the team and some delish cupcakes from our favourite store…The Cupcake Bakery, a great start to the Christmas month of eating.

No doubt the shops will be hectic this weekend with people Christmas ‘shopping till they are literally dropping’, however if you happen to be in the city don’t forget to take the kids (big or small) to see the Myer Christmas Window Display, as usual they are fantastic and will have you all in the Christmas spirit. This years theme is ‘The Nutcracker’ http://ow.ly/3hW6k

Till next time…

Stamping Out Housing Affordability

noreply@blogger.com (Metro Property Management) — Tue, 09 Nov 2010 15:41:44 PST

From the desk of Leah Calnan, Director Metro Property Management...

A collegue of ours Adam Watts (of Lifetime Financial Group) has written the below article that appears on ‘The Weekly Review’ website (a popular website and magazine in Melbourne). I thought you may enjoy this interesting read in regards to the excessive Stamp Duties Victorians in particular are forced to pay....

By Adam Watts (LifeTime Financial Group), www.theweeklyreview.com.au 3/11/10

Why is it that we have all accepted excessive stamp duty on Victorian property? If you compare stamp duties across Australia, and even between countries, you will start to question the exorbitant cost.

Generally, in day-to-day life, you get what you pay for when it comes to the quality or quantity of goods and services. No such logic applies to the application of stamp duty. As Victorians, we are paying higher stamp duty than almost all states and this, combined with an already high and climbing median property price for Melbourne, adds up.

Let’s look at duties across the states.

Considering a $500,000 property price, the following stamp-duty costs would apply:

Northern Territory $23,928

Victoria $21,970

South Australia $21,330

Australian Capital Territory $20,500

New South Wales $17,990

Western Australia $17,765

Queensland $8750

(Source: www.homeloans.com.au)

So what is Victoria doing with these extra and rising proceeds?

Excessive duties are particularly being felt by younger generations as they attempt to save a house deposit. With banks and other non-banking financial institutions increasing deposit requirements, largely thanks to the global financial crisis, individual property deposit savings have been struggling to keep pace with rising property prices and the associated rising stamp duty.

Higher bank deposit requirements, coupled with flat household income trends – again an outcome of an economic correction – have made it almost impossible for first-time buyers to enter the property market without compromising on size or location.

Today’s reality is that the median property price in affluent Melbourne suburbs is now incurring more than $100,000 of stamp duty for house or investment purchases.

As at June 30, stamp-duty costs on the five most expensive Melbourne suburbs, as per their median price for the quarter, included:

Toorak $114,400

Brighton $93,500

Kew $87,480

Balwyn $82,500

Elwood $78,925

(Source: Herald Sun 18/09/2010)

Stamp-duty costs, even on Melbourne’s median property price at June 30, was near to $30,000. Understanding this cost, how long do you think it actually takes the average Melbourne worker to save $30,000 after tax? I don’t believe this research has been carried out yet, but I would imagine the answer would be “a very long time”.

It is no surprise that households are buying up outer-Melbourne house-and-land packages. Properties are simply more affordable, with the ability to take advantage of additional first-home-buyer government incentives on newly constructed houses.

However, this could be causing an undesired demographic change of young couples and young families moving from the city and its infrastructure and amenities, which may not be as well supplied in and around outer-Melbourne housing estates.

Furthermore, if housing affordability and its associated costs don’t improve in Melbourne, we may also see a migration of residents to other cities or other, more-affordable states.

Why am I so passionate about this financial issue? Not only is it an issue for my younger clients, I have started to contemplate how my son, Oliver, will ever be able to afford inner-suburban housing? Some parents seem to be planning and have invested in or intend to invest in properties (apartments) for the benefit of, and an option for, their children when they eventually move out of the family house.

In addition to viewing it as an investment with tax benefits, maybe these parents also have an ulterior motive – ensuring their children don’t move too far from mum and dad.

So at what point and at what price does the Victorian Government say “we’re charging too much?” If it is not going to reduce its cost, when does it start giving some value back to house buyers with additional facilities and services?

The system needs to improve, because if it doesn’t, we may well be naming our children’s generation as the “renting generation”.

Adam is a Financial Planner for LifeTime Financial Groupadam@yourlifetime.com.au

A Fantastic End to October!

noreply@blogger.com (Metro Property Management) — Tue, 02 Nov 2010 17:36:30 PDT

From the desk of Leah Calnan, Director of Metro Property Management…

The last week of October was a very exciting one! For one I was very proud to win the REIV Residential Property Manager of the Year 2010 Award at the 17th Annual REIV Gala Awards held at the Crown Palladium Ballroom. It was so very nice to have many of my team attend and share in my joy. I was very shocked to say the least. I was up against some tough competition and to win was such an honor and a fantastic reward for all of the hard work my team and I put into our business. The REIV tell me that this year there were a record number of entries which makes the win all the more special and it helps my team and I feel like we are doing something right. The congratulations from our colleagues and clients have been overwhelming!

In other news I was approached a few months ago for some comments for an article in the “First Property Buyer” Magazine, this is a relatively new magazine and was first brought to my attention at the Home Buyer and Investor Show that we attended a few months ago. Now in it’s 4th issue this is a magazine that is full of interesting information for those purchasing their first property either to live in or to lease out as the magazine not only targets those who have never purchased before but also those who have never been a property investor before . I was asked to make some comments &/or offer advice for an article called “Hired Help” which discussed the reality’s of becoming a landlord, the benefits of assigning a Property Manager to care for your investment, the costs involved and how to find the best Property Manager.

The article is a great read and it was fantastic to have the opportunity to inform the first time investors out there about the benefits of a great Property Manager. (The article “Hired Help” can be found in the “First Property Buyers” Magazine - November 2010 issue on Pages 63-65) For more interesting reading and information on the magazine visit their website http://www.firstpropertybuyer.com.au/

Until next time…

Real Estate Tale of Two Cities

noreply@blogger.com (Metro Property Management) — Mon, 04 Oct 2010 21:23:08 PDT

From the desk of Leah Calnan, Director Metro Property Management...

My collegue came across the below article that appeared on 'The Age' website yesterday. I thought you may all really enjoy this 'to the point' article about housing shortage, interesting reading...

By Simon Johanson, The Age.com (October 4, 2010)

AUSTRALIA is suffering a chronic housing shortage.

The figure commonly bandied about is that there is a shortfall right now of nearly 200,000 dwellings.

Around the country there are individuals, couples and families struggling to put a roof over their heads. It's a dire situation that's set to get worse.

Goldman Sachs estimates in a recent report that in two years' time the national shortage will be 250,000 dwellings - nine times the size of the next largest housing gap back in the mid-1970s.

A housing shortage is not only hard for those struggling to find a place to live, it also drives up property prices for everyone else and generally makes housing less affordable.

But buried in one of the documents littering my desk is a paragraph from an authoritative BIS Shrapnel building industry prospects paper that states the following:

''For 2009-10 dwelling commencements [in Victoria] are estimated to have lifted 27 per cent to 53,350 starts.'' In other words, 53,000 new houses were started last year.

According to the report this is a record level of housing construction for the state and is above the estimated annual underlying demand for new dwellings.

So what's going on? If, as it turns out, Victoria is building more homes than needed, why does the state still have a housing supply problem?

The answer lies in the fact that it doesn't have a problem, or at least it doesn't have as much of a problem as its northern neighbours New South Wales and Queensland.

Between 2006 and 2010 Victoria, like the rest of the nation, experienced rapid population growth that resulted in pent-up demand for housing.

At the time new home construction couldn't keep up and the state was left with a housing shortfall last year estimated at 42,000 dwellings. It turned on the building-and-land-supply tap and in three years that figure is expected to drop to 29,000 dwellings.

''As of this year, we've had a very strong upturn and we're starting to build more than is required but we also have that pent-up demand from the last three years to work through,'' says BIS Shrapnel senior analyst Angie Zigomanis.

While a deficit of 42,000 dwellings sounds like a lot, Sydney has an even bigger problem.

Figures released last week show Victoria continues to be the powerhouse behind new home construction. NSW, by contrast, dragged its feet with a severe drop in new homes sales.

This year BIS Shrapnel estimates there will be a shortfall in NSW of 99,000 dwellings.

Unlike Victoria, NSW is hampered by the slow release of land for building, geographic limitations to growth on the outskirts of Sydney, higher levies on developers and planning hold-ups.

''It's a combination of developer levies that have been much higher than elsewhere, but also the geography of Sydney makes it more difficult to bring new supply on stream than in Melbourne,'' says Macquarie Bank senior economist Brian Redican.

It's a situation exacerbated by higher interest rates.

''We've seen lending for new construction fall over the previous 12 months and now that's flowing through into people getting fewer approvals from their local governments to build new houses,'' Redican says.

Last year new dwelling starts in NSW were at their lowest level for 50 years - an unprecedented situation for a state facing such an enormous and daunting housing shortfall.

''In NSW the cost of new land has been so much higher than in Victoria that it has been much less profitable for developers to bring new supply into the market,'' Redican says.

In Sydney the cost of developing a greenfield site ($560,000) is more expensive than developing an infill site ($550,000). In other cities, it's the reverse and at least a quarter less expensive, Goldman Sachs estimates.

Because work has started on so few new dwellings, next year's estimate puts the housing shortfall at 111,000 and rising.

For the first time this year, an almost unprecedented event contributed to Melbourne's population jump - while 4280 Victorians moved north, even more Queenslanders (4471) moved south.

Those that brave the southern chill will have an easier job finding a house in Melbourne.

Queensland had an estimated shortfall of 38,000 dwellings this year. That deficit is likely to rise to 56,000 by 2012.

So what will help? More first home buyer grants? Not according to Goldman Sachs.

''The most illogical policy prescription over the past decade has been the preference by federal and state governments to provide first home buyer grants as a way of encouraging new housing supply.''

The major challenge facing Australia is an acute lack of supply, not a shortage of demand.

''Only 16 per cent of first home buyers buy a newly constructed house. The vast majority use the first home buyers grant to bid up the price of the existing housing stock.''

If you are going to fix the problem, you have to start at the source. Sydney, with a little help from Queensland, is almost single-handedly responsible for the entire nation's housing shortage.