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SSC Newspaper : January 2011
food glorious food Every restaurant and food shop listed in the Good Food Guide read it online at www.ourstrathfield.com.au gdfdGuide Strathfield Scene 3 “I’m planning to leave in April to go to Nepal and do some volunteer work,” – former high school student Carissa Licciardello. news www.ourstrathfield.com.au By Mark Chipperfield With house prices in strathfield tipped to increase by 8.8 per cent over the next 12 months some investors are understandably nervous about the impact of higher state land taxes. As most property owners are aware, the threshold for land tax has just increased from $376,000 to $387,000 – a jump of 2.9 per cent. Land tax is levied at a rate of 1.5 cents in the dollar, leaping to two cents in the dollar for a property valued at above $2,366,000. Any increase in property taxes is bound to be unpopular, but local real estate agents do not believe that the minor increase in land tax will have any significant impact on the strathfield property market, or future values. John Attneave, from Richardson & Wrench strathfield, says that most investors are interested in buying apartments where the impact of the new land tax will be marginal. “They are buying units because of the good rental yields in strathfield,” he says. “People are usually buying houses here to live in, with the prospect of long-term capital gain and perhaps further redevelopment down the track.” Describing land tax as “just a fact of life, which no one likes”, Attneave believes the biggest threat to the property market is the difficulty in borrowing money at the moment rather than minor changes to government property taxes. “The reality is that banks are incredibly cautious about who they lend to at the moment,” he says. “i think the availability of credit will have more impact than any change to interest rates. in addition, the strength of the Aussie dollar might put off some foreign investors.” sam Georges, from Georges ellis & Co, is equally confident that a small rise in land taxes will not have any significant impact on the demand for property in strathfield, where the median house price now tops $1.3m – beyond the scope of most short-term investors. “i think it really depends on the area,” he says. “investors looking at strathfield are generally buying units, which are at the lower end of the market. Most houses are selling for over $1m. At those prices people are not just buying and wanting to see a quick return.” Although not as strong as glamour performers Rockdale (20.2 per cent) and Randwick (19.1 per cent), median land values showed healthy growth in strathfield increasing by 7.5 per cent in 2009-2010. experts say that the latest statistics suggest that residential property prices will continue to bounce back in 2011. “There are signs of the market beginning a recovery,” says NsW Valuer- General, Philip Western. “some of these rises are above the norm, and show a ripple effect out from the centre of the city.” Australian Property Monitors concurs: “it is expected that sydney’s median house price will rise well above $650,000 during 2011 and extend the price gap between other capital cities.” According to APM, the worst-performing suburbs in sydney during 2009-2010 were those on the western and southern fringes of the metropolitan area. strathfield house prices showed a healthy 32.2 per cent increase in value during 2010 after two previous years of negative growth. There were 1056 properties sold over the last 12 months, the majority by private treaty rather than at auction. Market alert over tax By Bernadette Chua AfteR the academic rigours of the high school Certificate and the interna- tional Baccalaureate, two of strathfield’s most gifted high school students are now turning their thoughts to community service and overseas travel. Carissa Licciardello, a former santa sabina College student who scored 90 or above in all of her hsC subjects, is currently saving up so that she can work as volunteer in Nepal. “i’m planning to leave in April to go to Nepal and do some volunteer work,” says the 17-year-old high achiever. “The reason why i decided to do this was because the hsC gave me a lot of great opportunities for academic learning and so now i want to do something a little different. since the community has given me so much, i now want to give some- thing back, to a different community.” former MLC Burwood student Natalie Czapski, also 17, wants to study arts-law. “i’m going to major in interna- tional relations and hopefully i can travel in 2012 to spain,” says Czapski, who achieved a perfect score of 45 out of 45 in the international Baccalaureate. “i’d love to learn spanish and experience a different culture.” top-flight student to give back Natalie Czapski Carissa Licciardello ChANCE TO dINE wITh NSw MINISTEr fOr SMAll BuSINESS The strathfield Chamber of Commerce will host a dinner for business owners with the NsW Minister for small Business, frank terenzini, on february 7 at Liu Rose Restaurant, 243-247 Concord Road, North strathfield at 7pm. tickets cost $50 which includes dinner and non-alcoholic drinks. to book, contact the strathfield Chamber of Commerce on 0432 323 439 or email sue McDonald at firstname.lastname@example.org . ChINESE NEw YEAr strathfield Council and the flemington Chamber of Commerce will be holding Chinese New Year celebrations in homebush West. festivities will include a parade by the Lion Dancing troupe. Road closures will be force at The Crescent and henley Road. Date: friday 4 february; time: 10am to 12pm; Location: The Crescent, homebush West; Cost: free. BOOk NOw fOr SpOrTS fIEldS Applications for the use of sporting fields and facilities for the 2011 winter are now open. Contact Council’s Customer service Centre on 9748 9999. Applications must be received by strathfield Council, Po Box 120 strathfield NsW 2135, fax 9764 1034, or email council@ strathfield.nsw.gov.au by 18 february 2011. In Brief
Strathfield Scene December
SS9 February 2011