Old Mandurah Footbridge

Sales Consultant Moya Mulvay shares a little Mandurah history….

Mandurah Footbridge
The footbridge in Mandurah had its origins with the Peninsula Hotel. My father Harold Blakeley Snr bought the property in 1929. As you can see by the picture below the footbridge abuts the wall surrounding the Peninsula Hotel. When it was pulled down in 1958 (I was 5 years old) I remember my brother collecting the wood and building a cubby underneath the boatshed (just visible on the right of the picture). We had so much fun in that cubby until we too had to pull it down.

Before there was a footbridge there was only a sandy pathway, (this pathway now has the “Stage Door” Cinemas and many more shops) which could be swampy, (it was so much fun walking through this swampy mud) linking Mandurah to Stingray Point. If you had no form of horse travel, the walk was long and on occasions, hot or extremely wet.

The Mandurah Footbridge was built in 1904. It became a favourite walk from town to Stingray Point and something of a tourist attraction with many holiday makers using it to fish from. Shortly after its construction, debate ensued as to who was responsible for the ownership and upkeep of the structure. The Public Works Department was asked to manage the footbridge because it was over water. They were not interested and they approached the Murray Roads Board, another body, which did not want to take responsibility for the footbridge. It was believed to be a private enterprise without the concurrence of the Board. This was a difficult position as the bridge was a public one and the locals wanted it to remain. The dispute resulted in the local government authority, the Murray Roads Board taking control of the footbridge in September 1909 and eventually declaring the footbridge to be a public roadway.

The footbridge remained in place for many years; in the thirties it was having its second overhaul in a decade, and in 1939 the Board declared that boats should not be allowed to tie up to it as the Board had just spent a considerable amount of money on repairs.

Around this date my father laid a water pipe under the footbridge extending to the western end for campers to use and for the use of the hotel. The pumping station was a small block which is now part of the Smart Street Mall. The cost of maintenance over the years was extensive, and severe damage was done to the bridge during the floods of 1945 which marked the start of a downward spiral for the footbridge. It spent much of the time from this point on in a state of disrepair and was finally removed in 1958.

For further information on Mandurah history please visit Mandurah Community Museum.

A guide to Old Halls Head

Sales Consultant Jill Zimmer provides some insight in to this often overlooked area of Mandurah.

There are by far many locations of Mandurah to choose from when you are contemplating where you want to live. But one of my favourite locations is Old Halls Head. Many buyers who come to Mandurah to invest in property are not aware of the different areas which all fall under the banner of Halls Head.

Old Halls Head is one of the original settlements West of the Mandjar Bay Inlet. Halls Head was named after Henry Edward Hall (1790 – 1859) he established a farm here in the 1830’s after receiving a land grant. Hall Cottage situated on Leighton Place is an historical land mark of Old Halls Head. In 1990 Stage 1 Port Mandurah commenced and the road was cut through Leighton Road for the Mandjar Bay inlet to flow into the canals. Leighton Road was then renamed into Leighton Place, Leighton Road East and Leighton Road.

The average original block size in Old Halls Head was between 911sqm – 1012sqm. The bigger leafy blocks, the wider streets, the landscape, the beautiful beaches, public open spaces and Mary Street Lagoon are some of the attractions that keep luring people to want to invest, retire or raise their families here.

This area is scattered with fabulous old character homes, original old holiday shacks, quirky beach homes, Blue Bay Apartments (a landmark tower), many inexpensive beach front units, and more recently the trendy upmarket Waterline Apartments accommodating the popular meeting spot of the Dome Café. All roads lead to the water within Old Halls Head.

As this area develops and evolves, we are seeing some fabulous Townhouses being developed within the R40 zoned areas, since deep sewerage became available the trend has been that many of the bigger blocks are being subdivided and people are building quality individual homes on these R25 sites.

 

Having lived in this area for the past 26 years, the time to purchase property has never been better. We are seeing some fabulous properties come to the market at an all time low. There are some amazing development sites, sub-divided sites, and original character homes that haven’t been offered for sale in the past 20 plus years.

If you are someone that loves to get your teeth into a renovation, then this is the area for you, as the old cliche goes look for the worst house on the best street and you can’t go wrong. Again the time has never been better than now to heed this message.

If you are thinking of buying or selling in the Old Halls Head contact Jill Zimmer your local area specialist.

Make it a Classic Mother’s Day

 

 

 

 

With Mother’s Day just around the corner, many people are making plans to spoil the ladies in their life. And while we all love a little pampering, this year my daughter and I will be starting the day with an 8km walk to raise money for Breast Cancer research. And I can’t think of anywhere I would rather be!

For over a decade the Mother’s Day Classic has been raising much needed funds for the National Breast Cancer Foundation and, if they hit their target of $4.2 million, hope to take their tally to $15 million dollars with this year’s event. The statistics on Breast Cancer are frightening. One in nine women will develop breast cancer in their lifetime, who do you know who has been affected by this disease?

Personally, I am grateful for the women in my life. I am grateful for my family, my friends and my colleagues. And I want to do what I can to keep them in my life. I am also grateful to be fit and healthy and able to take part in this wonderful event.

If you would like to take part you can register online or donate online. I have attached the links below. Alternatively you can donate at LJ Hooker Mandurah. Let’s make this a Mother’s Day to celebrate all the women in our lives and take a step (or many!) towards a cure for this disease.

https://register.eventarc.com/event/view/7499/tickets/mothers-day-classic-perth
http://mothersdayclassic.com.au/donate

Jenny Glasson – Sales Consultant

The pro’s and con’s of Interest Free Loans

Now more than ever, interest free finance is everywhere we look.

Consumer finance is a great tool for retailers to make expensive items affordable to customers and an ideal way for customers to purchase goods that may have otherwise been out of reach due to low savings.

While allowing you to take home the items you have purchased that day, you will need to remember you are committing to a repayment schedule typically from six to thirty-six months.

Reading the terms and conditions, understanding the fees and charges and staying on top of your repayments can make interest free loans a perfect way to relieve stress and financial pressure. However, like most loans if you don’t understand the fine print, miss repayments, or fail to meet your obligations it can be costly and lead to a lot of financial stress.

Interest free loans are like most other loans in they are typically accompanied by an establishment fee and monthly account keeping fees. Sometimes the longer the term of the loan, the more fees are involved. Dishonour fees and late payment fees can be charged too.

There are both pros and cons of paying interest free. For example, retailers will often keep their prices between $100-$300 higher if you are paying interest free, as they will need to cover their merchant service fee which can be anywhere from 9% to 12% of the finance being sold. Had you been paying cash for the item they may have sold it to you for less. Don’t be afraid to negotiate for cash purchases.

Example: Let’s say you have purchased a new fridge on twenty-four months interest free for $1,295. The statement you will receive from the Finance Company will usually only ask you to pay a minimum payment of around 3% per month which on this purchase would be $38.85 per month.

However, to pay back $1,295 in twenty-four months your monthly payments need to be around $54. Accordingly, if you only paid the minimum, you would end up with a shortfall of approximately $360. So if you want to avoid a shortfall at the end of the term you will need to pay $54 per month plus and monthly account fees that apply.

Most finance companies will charge anywhere from 27% to 29% on payments not made within the interest free time period. With penalties this high, it certainly pays to make sure you are ahead with your repayments.

Things to watch out for when applying for interest free finance:
• More often than not they will approve you for a higher amount than just the amount of the item you wish to purchase. This makes no change to the payments that need be made and acts almost exactly like a credit card. But be careful as this card could also carry an awfully high interest rate and other unfavourable characteristics.

• Just because it is an interest free card doesn’t mean all purchases made on it will be interest free. Cash withdrawals, BPAYs, any purchase that is a non-promotional purchase will be typically be charged interest. A way to avoid this is once you receive your first statement call the company and ask them to make your limit only what is owing. This takes the temptation away from spending money you don’t have.

• Make sure to read the terms and conditions and don’t be afraid to ask questions if you don’t understand.

On a positive note consumer spending has been made easy and in some cases less stressful by this very tool. It is an easy way of purchasing an item you need in the short term without the immediate financial pressure, however this also causes impulse purchasers which are often not thought through and can leave long term damaging financial stress.

Save when you can, purchase when you must.

Saving for significant items can be rewarding even though there are quicker ways. It pays to know where your money goes. (Source: LJ Hooker Finance)

LJ Hooker Mandurah Rewards Draw

How lucky we are…

Sales Consultant Graeme Knight takes a minute to reflect on how fortunate most of us really are.

Just a short blog to bring to the forefront of people’s thinking just how lucky most of us are. If you have small change in the console of your car or in a dish at home you are probably richer than over 3/5ths of the world’s population and if you have access to a Doctor, clean water or a hospital then you will most likely live longer than over half the population of the world.

In general I do not think most of us have a lot to complain about but we all at times let others know what is annoying us. Have a quick look at the link below to learn a little of a mother who is doing it tough but is not about to give up. With the help of her friends and family she is planning on being around for some time to come. Please remember to keep her and others like her in your thoughts as we live our busy lives.

http://news.ninemsn.com.au/national/8449169/wa-cancer-mum-gets-nano-chemo-in-china

Information for Investment Property owners with GESB accounts

IMPORTANT INFORMATION FOR INVESTMENT PROPERTY OWNERS WITH GESB ACCOUNTS
From Empire Financial Group.

After much anticipation, the WA State Government has recently granted superannuation choice for all State Government Employees.  This means that they are no longer obligated to use GESB (Government Employees Superannuation Board) funds for their superannuation contributions.  Furthermore, funds held within GESB can also be rolled out to another superannuation fund.

This means that anybody who has ever worked for the WA State Government needs to make a decision as to the best course of action for their retirement savings. Anybody who owns investment properties or other assets that may have a capital gain in the future need to be particularly careful when making this decision.

This will no doubt create lots of discussion surrounding options for the future, and it has certainly opened up government employees to benefits they may not have been able to access in the past.

Empire Financial Group has had a long standing relationship with LJ Hooker. We are in the unique position of having an in house adviser with extensive experience in the GESB environment.  Chris Taylor has until recently worked with GESB for 4 years, so he is very well placed to provide an objective opinion drawing from his experience in both the government and private sector.

GESB has its benefits and its drawbacks.  Furthermore, there are different types of GESB funds available, which have different benefits, and it is imperative any decisions made are related to your specific position.

Before you speak to us about your individual circumstances, some of the pros and cons of the GESB accounts to be considered are outlined below:

Pros

West State Super is not bound by the annual concessional contribution limit.

• You may have the potential to reduce the tax payable upon exit from the fund using any pre 1983 service.
• They are reasonably low cost funds depending on investment option, and particularly for small account balances.

An example where this may be of benefit when selling an investment property:

Jim, aged 45, has recently sold an investment property and has a $100,000 assessable capital gain. Jim earns a salary of $89 000 per annum, meaning the capital gain will be taxed in both the 38.5% and 46.5% Marginal Tax brackets (including medicare levy).  Jim, in consultation with his Empire Financial Adviser, decides to live off the capital gain and salary sacrifices his $89,000 annual salary to his West State Super.  Making these contributions means that Jim saves $21,635 in tax.

As Jim is aged 45, if he was to contribute to another superannuation fund, he would only be able salary sacrifice an additional $16,990 into superannuation for the financial year.   His employer would have already made $8,010 in compulsory contributions, allowing him to contribute $16,990.  This would reduce his tax by $4,713

Contributing the funds to West State Super has saved Jim additional tax of $16,922.

Cons

Potentially higher tax paid on returns within the fund.

• Limited investment options  with no ability invest into direct equities, property or fixed term deposits, or choice of fund managers.
• Depending on investment options desired, and amount invested (particularly for larger investors) it can be a relatively expensive fund
• No ability to utilize tax advantaged dividends received from Australian Shares.
• Benefits tax is paid upon exit from the funds rather than entry
• Limited insurance options

An example of how this could be detrimental?

Jane has her superannuation funds invested in a Balanced Plan within West State Super. Jane’s superannuation have increased in value over a number of years so she will need to pay tax when exiting the fund. As she is in West State Super she is not entitled to receive any discounts on the capital gains meaning she pays the full 15% of the fund value upon exit. If she earned the same return with another superannuation fund she may be entitled to the 1/3 capital gains discount meaning she only pays 10% on the gains.

This has increased Jane’s capital gains tax by 50%.

So how do we get the right answers?

You may not have any GESB funds, however you will certainly know someone who does. To ensure you, or your friends and family, are making the correct decision regarding the GESB superannuation funds contact Chris on 9323 3000 for an initial discussion at our cost.

We look forward to providing you with the help required in this, not to be taken lightly, decision making process.