Some items have dropped however including mens clothes down 6.2% over the past year, Computers and audio down 19.9% over the past year.

Rising house prices have been well documented; but you can take effectual advice from Mark Forytarz, a real estate professional, as ABS noted a 4.4 per cent increase in rents over the year to June, and a 3.9 per cent increase in house purchase.

The RBA yesterday raised its key cash rate to 4.25 per cent - its fifth increase since October - to quell emerging inflation pressure from the export sector and rising house prices. It also dropped commentary referring to taking a ”gradual” approach to rate hikes in the future.

The series of rate increases also appears far from over, with financial markets now betting the central bank will lift its cash rate by another percentage point to 5.25 per cent within a year.

The higher borrowing costs flowing from such moves will deter some housing developers, economists say, meaning that they will make little inroad into reducing the estimated 200,000 housing shortfall.

Read the full article here:
http://www.smh.com.au/business/rate-rises-sink-housing-affordability-hopes-20100407-rr3i.html

Mark believes the process of buying and selling should be an enjoyable experience and appreciates his clients who still over the years call for his professional advice.

In 2003, Mark was made ‘Sales Director’ of Castran Gilbert in recognition of his outstanding performance, and knowledge of the Real Estate industry.

Mark is currently completing his Real Estate license and holds an Associate Diploma of Business (Marketing).

As long as you are concerned with the real estate in the area of Melbourne, then the only name that you can trust is Mark Forytarz. Mark Forytarz is the one name that has ruled the real estate market of Melbourne for a very long time now. One of his greatest achievements is that he has mixed some of the latest concepts in the domain of real estate transactionswith the more humane side of doing business. He has utilised his tremendous achievements in academics to the fullest in devising concepts that are revolutionary as well as beneficial to the people dealing in real estate in Melbourne.

One of the greatest things that are to be noted about this man, Mark Forytarz, is that he is very much passionate about the work that he does. This makes him do the work for his clients that is all the more sincere, as well as true to his stature. This is one of the reasons that some of the biggest names in Melbourne trust Mark Forytarz in their real estate transactions. Although the area of Melbourne is full of real estate agents, none are as efficient and as thorough in his knowledge of the real estate as Mark Forytarz.

Apart from the expertise that this man has in the field of real estate, it is his endeavor to do good for the community; Mark Forytarz is the member of a number of local charities.

When it comes to selecting an investment vehicle, real estate is generally one of the best options for potential investors. Even in the present scenario of global economic meltdown, this sector is booming, particularly in Australia, and especially in Victoria.

The Australian real estate market is currently experiencing tremendous growth like never before. But to get maximum benefit from this sector, strategic investment should be the major concern for every investor. But, making the right decision often becomes a daunting task for the investors, because of several difficult aspects associated with it. Because of the associated complexities with investing in real estate, some investors divert their funds to other investment opportunities, and in doing so, miss out of the great advantages that real estate has. However with the availability of real estate expert advice, this should no longer be an excuse for potential investors.

To get the best results from your real estate investment, first you need to consult with a real estate agent or consultant, who can guide you through every aspect of your investment. Among all the real estate agents in Australia, ‘Mark Forytarz’ stands shoulders above the competition. Mark has established himself as a leader in the industry, with a proven track record and specialized services.

Mark Forytarz has many years in the real estate market, and as an industry professional for such a long time, he possesses a comprehensive knowledge on different aspects of this sector, for which he can suggest the best properties to suit the needs of his clients, and their financial goals.

So, if you really want to get the maximum return of your investment, even during this global economic meltdown then without any second thought consider investing in the Australian real estate market. But, before you make your investment decision, don’t forget to call Mark Forytarz to discuss your requirements, and get his advice.

Angus was able to free himself, and with the guide, dig John out from more than 1m of snow. John is due back in Melbourne today to reunite with wife Sally and elder son Lachlan, and the rest of the Castran family.

There has been a large amount of media coverage, here is an extracts from the Herald Sun:

Speaking from Mt Hutt yesterday, the South Yarra father of two, 53, gave a haunting account of the most terrifying day of his life.

Trapped beneath 1.8m of snow after two avalanches ploughed into his five-man skiing group in the Ragged Ranges on Friday, Mr Castran described the 15 minutes he spent, alone, in the frigid dark.

He had been on a heli-skiing trip with his son, Angus, 23, and another man, Lynden Riethmuller, when the world turned white then deadly black.

Mr Riethmuller, a NSW company director, could not be revived after he was buried by snow.

Mr Castran, an experienced skier, was on an annual holiday with his youngest son when he was hit by a wall of snow.

“There was a point where I thought ‘This is it. I have seen my last sunset’, ” Mr Castran said.

“Then this second wave came five to 10 seconds later and there was this rustling noise, then terror really set in.”

Mr Castran knew a second avalanche had struck.

“I could feel the snow packing down, squeezing the air out of my body,” he said.

“I was trapped in my icy tomb.”

Mr Castran remembered to slow his breathing to conserve oxygen.

“It then became peaceful . . . I can’t remember anything until they revived me, lifted some of the snow off me around my neck and I looked up and saw these beautiful blue skies,” he said.

The multi-millionaire real estate agent credits with saving his life his avalanche beeper which shoots radio signals to nearby beepers and his “very strong” son.

Angus and one of the group’s two guides, Kevin, found the spot where Mr Castran lay buried and started digging.

They scooped out snow “big as a (Holden) Commodore” and began CPR on Mr Castran, who was unconscious.

His brush with death would change his life, Mr Castran said.

“I reckon I might relax a bit more, slow down, smell the roses,” he said.

“I have been to the other side and I can tell you this: there is nothing there. It is far better over here.”

Mr Castran is due back in Melbourne today to reunite with wife Sally and elder son Lachlan.

Interesting post in the Herald Sun today (http://www.news.com.au/heraldsun/story/0,21985,25810291-2862,00.html):

The Real Estate Institute of Victoria was summoned by Consumer Affairs Victoria boss Claire Noone to discuss ways to stop agents who deliberately underquote.

The meeting follows a Herald Sun investigation that revealed many properties were passed in at higher than advertised prices.

The State Government move comes two days after the Australian Competition and Consumer Commission said home owners would face fines up to $220,000 for underquoting.

Under new laws to come into force on January 1, home hunters who are duped will be able to ask for the return of pre-purchase costs if a property is underquoted.

Stockdale and Leggo chief Peter Thomas said deliberate underquoting was a serious problem that needed to be stamped out.

He said despite decades of experience in real estate he, too, had been duped and wasted time viewing properties that had been advertised for less then they were worth.

Last month, a REIV committee rejected a proposal that would have forced vendors to publish their reserve price before auctions.

But pressure to clean up rogue estate agents continues to mount.

Bennison Mackinnon boss Iain Carmichael said forcing owners to publish their reserve price would put an immediate end to underquoting.

"Make the publication of reserves mandatory and overnight, underquoting ceases," said buyers advocate David Morrell. "Overnight, dummy bidders disappear."

REIV chief executive Enzo Raimondo described yesterday’s meeting with the Consumer Affairs as useful.

But the REIV is believed to have declared its opposition to laws that would force vendors to publish their reserve price.

"The REIV will continue to work with CAV to outline best practice to its members and increase the provision of education to consumers," Mr Raimondo said.

Consumer Affairs spokeswoman Heather Abbott said the department would continue to work with the REIV.

"Both organisations share the same objectives — that is, compliance within the industry," she said.

"CAV will continue with its real estate compliance and enforcement program."

The home-ownership dream rarely used to feature a sibling in your bathtub and a parent on your certificate of title. These days though, first-home buyers are prepared to be flexible.

Housing affordability fell to record lows in the March quarter this year according to the latest Housing Industry Association-Commonwealth Bank report.                Mortgage payments now account for 30.7 per cent of total first-home buyer income!

Generations X and Y are also settling down later meaning for many home ownership is a solo battle.

It’s not surprising then that increasing numbers of first-home buyers are teaming up with siblings, parents or friends in a bid to break into the property market.

“There has been a noticeable trend towards family members buying property together, as property prices are still very high, particularly for first-home buyers,” says Aussie Home Loans boss John Symond.

The number of family members taking out mortgages together has jumped from about 1% of all loans originated by ‘Aussie’ to 5 per cent over the past two years!   Mortgage Choice has reported a similar trend. A survey carried out by the company last year revealed more than 6 per cent of people who bought property within the past two years had done so with family or friends. And of those who intended to buy property within the next two years, over 8 per cent intended to do so with family or friends!

The result can be a kindly warning or a significant fine and large interest bill.

The tax office says it is investors’ responsibility to get their tax returns right and they can’t blame their accountant or plead ignorance if they get it wrong.

One of the most common mistakes investors make is claiming items that should be depreciated over several years.

According to the tax office, initial repairs to fix damage, defects or deterioration that existed when a property was bought are capital expenses that should be claimed as capital-works deductions over either 25 or 40 years.

Capital improvements such as re-modelling a bathroom or adding a pergola should also be claimed as capital-works deductions.

Other mistakes include:

Interest

Taxpayers sometimes use loans for investing and private purposes — for example, to buy or renovate a rental property or to buy a motor boat.

The interest expense on the private portion of the loan (the boat) is not deductible!

Legal expenses

Conveyancing expenses incurred when buying and selling a property are not deductible. These form part of the cost for capital-gains tax purposes.

Travel expenses

If you take a holiday and visit your investment property while you’re there, you cannot claim a deduction for the full trip.

The tax office says you may claim only those expenses directly related to the property inspection and a proportion of accommodation expenses.

Plunging average prices for regional seaside homes don’t tell the full story.

Valuer-General Victoria sales figures released this month by Land Victoria show median house prices rose in a third of seaside towns!

From the end of 2007 to the end of last year, prices fell in 16 of 30 coastal towns and stayed level in four others!

Hardest hit is Port Fairy with a 34.6 per cent drop from $390,000 in late 2007 to $255,000 at the end of last year. Average house prices also fell dramatically in Blairgowrie, Barwon Heads, Portarlington and Rosebud West.

Anne Murphy of Stockdale & Leggo says Port Fairy sales during the summer were the best in the eight years she’s been there, saying the big drop in the median house price for Port Fairy is not because property values have fallen. Instead, figures have been skewed by tightly held, top-end properties being kept off the market.

“We’ve been recommending they delay selling because demand isn’t strong.”

People have owned houses here for 30 to 50 years. They’re kept in the family and passed down. Unless unforeseen circumstances such as a divorce occur, why sell in this market if you don’t have to?”

But Murphy says those Port Fairy vendors who are on the market are more realistic than past years.

“We’re not expecting a good summer season with the economy the way it is, but we’ve had extremely good results in the number of sales and most sales were within 10 per cent of asking prices.”

“In the past 18 months in our office, there has been only one sale of a property that sold for less than the vendor paid for it!”

“Most properties here are about $450,000. You won’t get much for your money under $400,000.”

That hasn’t stopped holiday-home hunters prowling Port Fairy.

“We’ve had people come in looking for that bargain,” “I personally don’t have any bargains but there are realistically priced properties and motivated vendors who’ll negotiate.”

A historic fishing port that is now a popular holiday and retirement town famed for its annual folk festival, Port Fairy is about 290km west of Melbourne.