IN the Valley

By Ara Jansen

Thundering hooves and mallets hitting balls with a loud thwack means it’s time for Polo in the Valley.

Fierce but fun is how Glen Gilmore describes polo. The 40-year-old Queenslander will still be riding to win when he mounts his horse to play on a team as part of Barbagallo Polo in the Valley.

The dramatic sport of kings will be kicking up the grass at the private estate of Duncraig Stud in Middle Swan in April. In what promises to be an exciting day, it’s also a perfect introduction to those who have never seen the sport live before.

A polo game is divided into six chukkas, each lasting seven minutes. Players in teams of four and mounted on ponies (which are really thoroughbreds), use long mallets to drive a ball into their goal.

For spectators, a day at the polo is of course never complete without the Divot Stomps, a la Pretty Woman, plus a male and female dash, fashion parades and best-dressed competitions.
Glen has been a professional polo player since he graduated from university at 22 and has made his living in the fast-moving sport.

“I play polo for a living and also represent Australia, which is an amazing opportunity,” says Glen, the captain of the Australian Polo Team for the last 10 years. “At the same time I also play for other teams around the world.

“I get paid to play. The people who own polo teams tend to be wealthy individuals that use polo to keep fit but also to have a lot of fun with.”

Glen is based in England for about half of the year and has recently competed in China, Thailand and Melbourne and says the game continues to offer a busy circuit. He can play up to 150 games a year and rides everyday, even if there isn’t a game to play.

“The audience for polo is really growing and it has become a lot more accessible for people who want to watch – and we certainly want people to come and watch. Not only do we want people to play but we also want more people to come and see what for many of them is a new sport. It might even get some people into riding.”

Just to make it a little harder on himself, Glen often acts as commentator during the game at the same time as playing.

Barbagallo Polo in the Valley happens on April 17. For tickets and more information: www.polointhevalley.com.au

WA, a two sphere economy?

It’s fair to say the Western Australian property market is facing some pretty tough challenges right now even though there is renewed strength in the State’s economy.

We often hear the term ‘two-speed economy’ whereby the resources sector continues to flourish while other industries struggle.

Investors may well feel there are two spheres inside WA itself and these concerns stem from mining projects that fail to provide a broad flow-on effect to other sectors. The property market is one obvious area where this is not occurring.

If the mining and resources industries are doing so well then wouldn’t property, our major personal asset, reflect this? There is not one single factor but rather a number of related reasons that are driving the WA property cycle.

What we can say is that the market is currently still in the midst of a correction from liberal lending practices that overly stimulated the local market for a protracted period. The resulting post GFC fall out and the multiple government interventions into the market throughout both periods have also caused various market distortions. Right now we are going through a necessary period of stabilisation and realignment.

The good news is that this stabilisation is steadily occurring which is evidenced in the renewed activity by first home buyers, improvements in the rental market and positive activity from investors. Affordability is increasingly coming back to the property market which is a good thing. Stock levels currently outweigh demand but sellers are increasingly realising that price adjustment is a reality and if buying in the same period then it is all relative. Something positive is happening and it’s this positive economic force being driven by the mining industry which is continuing to build momentum and will progressively touch ground into the broader economy.

However, despite a lack lustre market place, opportunity is awaiting. The economic momentum being generated in the mining and resource sector will progressively begin to filter into the property market. Besides the shift in wealth into WA there will also be a considerable growth in population estimated at about 50,000 per annum. So despite immediate oversupply in the residential market right now, it is very likely we will see demand outweigh supply again in the medium term. Demand will increase, capital growth will adjust accordingly and rental returns will strengthen.

Another structural shift in the property market that will generate new opportunities is the concerted efforts by both industry and government in building property capacity in the major regional centres, especially Port Hedland and Karratha. Through the ‘Royalty for Regions’ scheme the WA Government has an ever increasing capacity to inject a lot of cash into infrastructure that will turn these areas into connected, meaningful and growing communities.

Banks have also shown more confidence in the WA property market after being very cautious in the sector for a long time. Lending criteria is becoming more favourable, and this is a key element in any positive change to the property cycle.

We are in a very unique position because we can literally see the positive fundamentals lining up for the future and although many projects are yet to fully ramp up, this is an ideal position to be in for a buyer. Right now, we have good value and choice in the market place, strong employment, growing population, massive economic build up with reasonable interest rates and increasingly favourable lending criteria. The time is ripe to focus on purchasing a home or investment.

The true impact of this next period are yet to be fully seen, but with WA being something of an economic powerhouse it seems it’s a sure thing. If you wait until everyone else is thinking of purchasing you will probably be too late to maximise your advantage.

My advice? Do the research and act with confidence ahead of the curve.

IN Landscapes

A fascination with the West Australian landscape has taken one photographer all over the State to capture the spirit of our land.

Next to her trusty cameras, Frances Andrijich’s most valued possession is a ladder. She spends a lot of time up it. Nope, she hasn’t taken up painting in her spare time; the West Australian-based photographer uses it to visualise the perfect angle for a photograph.

Though she’s worked as a photographer for decades, being based in Western Australia has meant landscapes couldn’t but become part of Frances’ photographic story as she worked shooting photographs of other things, like people or vineyards. Frances has travelled the State extensively looking for different views, a new perspective or simply stunning locations.

“Ultimately, these photos are about giving us a sense of place,” Frances says. “For people viewing them, they have either been there so it sparks a memory or the image is arresting that it captures the imagination. I’m able to give them back that memory of having been there, which I think is very soulful.

“These landscapes are a considered impression of a place. That’s where I come from – shape, form, simplicity and evocativeness. It’s about invoking a feeling.

“What I love about WA is that it’s so diverse. You can be in the Central Desert and then in the lush pastures of Margaret River and you’re still in the same state.”

During her career, the award-winning photographer has worked on books, including one with Kate Lamont and another on the wine region of Margaret River. Frances has also exhibited in Australia, Los Angeles and Croatia and sells landscape prints to people who want their own precious and unique piece of WA. You’ll also see her name attached to theatre programs, magazine spreads and some of the most iconic photos of notable faces like author Tim Winton, actors Ernie Dingo, Hugh Jackman and the late Heath Ledger and sportsmen like Matt Giteau and Adam Gilchrist. Wineries have also become a specialty, which includes working with brands like Cullen and Moss Wood.

“I’ve been doing this for long enough that I am usually close to anticipating what I will get when I plan a shoot – but then I am always surprised. I still get so excited. When you get to the site you are taking pictures at, there is always something that will trigger where and how the picture gets taken.”

Frances says while there are thousands of images in her professional collection which were planned, there might almost be as many unplanned. An early morning walk at a lake while in the south-west to photograph a winery and its vines yields atmospheric photos of birds at a lake or a misty clearing.

“There are those shots which you just bump into while working on something else. They have their own sense of beauty and that’s what I love about them. I have seen so many sunsets and they’re still exciting to photograph.

“The most exciting thing about photography is when you are not expecting something. I shot a massive storm coming across South Coogee because I happened to be there for a picnic and at another time I set-up a handful of women standing in a salt flat in the Wheatbelt and a kangaroo happened to hop past.”

www.andrijich.com.au

IN Pets

When you love your pets like family, you want them looked after with the same care, even if you’re away from home.

You might not think Jenny Hodder is the first person to call if you ended up in hospital unexpectedly. But if you’re worrying that your dog is home alone and needing to be fed, she’s perfect.

As a pet sitter, Jenny is on-hand when people go on holidays but she’s just as likely to be called on after an emergency which means budgies need to be fed, dog’s washed or cats kept tabs on. If your pet falls ill on the eve of leaving them with the neighbours, sometimes alternative arrangements are no longer possible and it’s time to draft someone in.

After spending decades of her career working in the media, when Jenny decided to change her life, she went back to her first love – animals. Wanting to get involved in something she felt thoroughly passionate about, Jenny started West Coast Pet Stayz, an affordable pet and house sitting business where pets are looked after in their own environment while their owners are away.

A pet owner and mad pet lover, Jenny says one of the most important cornerstones of the business is that sitters care for each home and pet like they are their own.

“I know a lot of people won’t go on holidays often – or at all – if they can’t leave their pets with close friends or family,” says Jenny. “Let’s face it, sometimes it can be really hard to keep imposing on those people.

“This way, the pets get to stay at home and get excellent care from someone who actually wants to spend time with them. A lot of people really pamper their pets and want nothing less when they go away. Not only do the pets get to stay at home and have a fabulous time but the added bonus is that the property is taken care of.”

Jenny has also met a number of people who have had to give up their pets when downsizing and she’s loved helping them re-connect with animals.

“Some retirement-style villas and homes or even rentals don’t allow pets, so house sitting can be perfect for someone who wants to get their pet fix for a week or two at a time.

“While you don’t get paid, it’s also perfect if you just want a change of scenery or want to holiday in a new suburb and house. I have sitters on my roster who are sick of paying rent, saving for a holiday, building or are just in between homes. It can be a really cost-effective solution if you’re willing to make a furry new friend and love a new home for a while.”

Most recently Jenny has taken on some country sits and one of her first clients has three sheep, chooks, two miniature horses and three dogs.

Rental Market Clarity

Many investors with rental properties are in the midst of a challenging market right now. This can mean a stressful or confusing time for them.

Our property management division is working with many clients who are finding the current climate difficult and I thought it appropriate here to talk about what I see the future may hold for the rental market.

The rental market softened significantly over 2010 and these early parts of 2011. This means rental returns have also softened and investors with residential properties for lease need to have a very realistic view of the market in order to keep their properties leased. Right now, investors need to keep informed and in touch with the market and cannot over estimate their returns, being realistic is absolutely key in these sorts of conditions. Some investors need to understand that rental pricing is set by market conditions and not by an owner’s loan servicing needs.

Yes, this means that you need to price your property competitively and if you don’t you may find your property goes uninhabited until you meet the expectations of tenants. This may sound harsh, but the news is not all bad for investors because the right fundamentals are lining up for an increase in rental demands.

The thing is, the right economic and social factors are lining up in this state. Unemployment is low, the mining and resource sector has a strong outlook and people are continuing to migrate to WA in impressive numbers. Interest rates are also a major factor and while they are not great news for investors in the cost of money sense, they do mean many people need to rent, rather than buy.

For investors, the rental market is likely to see a sustained and solid growth in demand in the medium term. The good times are not here yet and I’d say we still need to see out the first half of 2011 before we see a meaningful shift.


The thing about property is that it runs in cycles, it goes up and it comes down and each different part of the cycle has certain benefits and challenges depending on what your exposure is. Investors need to understand this and they need to have a long term outlook on property. An investment strategy based on the expectation of overnight boom conditions and extreme capital growth is not realistic.

So investors, I’d say the order of the day is to remain cautiously optimistic. Be realistic now and do your best to secure a good tenant to ride you out until the positive conditions consolidate. Embrace the advice of your property manger, make the most of the market knowledge they hold. Take this advice and I think you will find it will pay solid future dividends.

Need and investment Property Manager?

Contact either:

Verity Hodge 0408 004 459

OR

Jessica Featch 0404 493 771