A Multi-Million Dollar Home Gym
It feels like everywhere you look these days there’s a new 24-hour gym opening and many apartment projects sport gym facilities. However, along with celebrities like Madonna and Kate Moss, a multi-million-dollar home gym might be the ultimate home feature. Clearly with that sort of price tag we’re not talking about a set of dumbbells under the couch. We’re talking about creating the ultimate home gym. This is the stuff dreams are made of, for luxury work-outs the comfortable way. These spaces have everything; computer-designed for ergonomically correct muscular development, ambient lighting, weight racks, treadmills, saunas, rock-climbing wall, basketball court and crazy huge built-in aquariums. The most extravagant home gym could be yours, and the price tag, you’ll need to budget around $4,000,000.
Property Taxation Revenue
In Australia the Commonwealth Government levies and collects all income tax, from individuals and business. It also collects a portion of other taxes, including GST. The revenue base of state governments consists of taxes on property, on employers’ payroll, and on the provision and use of goods and services. The sole source of taxation revenue for local governments is taxes on property. The growth in property taxes has run alongside booming property markets. In 2011-12 Property Taxes totaled $33.5 billion by 2016-17 the figure was $52.5 billion. By far the biggest share was collected by State Governments, $20.4 billion in 2011-12 increasing to $35.2 billion in 2016-17.
The pace of technology appears never to stop and that includes home based innovations. The big items now hitting the shops include smart-fridges and speakers, new model smart-TVs and portable power banks. Smart fridges are a reality with see-through doors where you can see the contents without opening the doors, saves energy and possibly endless snacking. These fridges also scan use-by dates and so help with the household budget and shopping. Smart-speakers do a lot more than play music, they can tell you the weather or give you diary reminders. When it comes to smart-TVs, these have been around for a while, but they are getting bigger with 77-inch screens that are way less than one-inch thick and with amazing picture quality. As we sometimes face electricity disruptions powerful portable power banks able to provide 200 watt-hours are on the way.
Trees and Playspaces
Open space, parks and trees are important in any urban environment and even more so with greater population density. As part of the 2018-19 NSW State Budget, $157.5 million will be spent on strategic open space and playspaces. The ‘Five Million Trees for Greater Sydney’ program will also get funding to help double the cities tree canopy in from 16.8% to a target 40%. The additional funding will also enable land to be identified and purchased for public open space. The NSW Government having already purchased 16 hectares of land in West Hoxton which will be an extension to the Western Sydney Parklands. Councils will get money to renew, renovate or build more than 200 playgrounds. This sort of soft-targeted infrastructure is important to every local community.
Improving Infrastructure Delivery
Infrastructure is a hot topic, not only in Australia but across the world so much so that the G20 have been focusing on initiatives that can make infrastructure an attractive asset class and also improve delivery. A G20 report ‘Roadmap to infrastructure as an asset class’, has proposed several initiatives that should help, including to: enhance project preparation so that projects are more ‘bankable’, align the risk of projects to the risk profile of investors, increase the data available on projects, promote quality infrastructure and good governance, improve local currency capital markets in emerging markets and explore the creation of standardised contracts for activities such as financing and risk sharing. All valid points recently quoted by Luci Ellis, RBA, Assistant Governor (Economic)
Take Notice of Millennials
Millennials have now reached the peak stage of home ownership and parenthood making this group very important to real estate marketing. A few key points to keep in mind includes the fact that millennials have a highly distinctive voice, they read reviews, they value ratings and they have a strong understanding of value. Mobility and urban location are important and they are tech-smart and energy aware and may well rent rather than buy and prefer apartments over houses. An interesting group that the industry needs to cater for as they will not be shoe-horned with their buying and rental options.