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World's most expensive house up for sale

A French chateau, once owned by a member of the Rothschild family and, later on, the King of Morocco, has gone up for sale with a £363 million (AU$699) price tag. Chateau d’Armainvilliers located at Seine-et-Marne, 48km east of the Eiffel Tower, is the world's most expensive home. Built upon the foundations of a 12th century castle, the sprawling mansion boasts 1,000 hectares of land, 100 rooms across 2,500 square metres of living space, a private lake, and plenty of sequoia trees - the largest trees in the world. Ignace Meuwissen, a self-acclaimed "real estate advisor to the global elite" described the property as a display of "opulence and grandeur". "It is the most expensive castle in France and perhaps in the world. The price of €425million is justified by the property itself but also by the 1,000 hectare land which offers numerous possibilities," he told Paris Match magazine. "An investor could build thousands of apartments there if he wanted." The chateau was first bought by the Rothschild banking empird in the late 19th century, before King Hassan II of Morocco bought it in the 1980s. He then made the chateau more fit for a king, adding a hammam spa, a beauty and hairdressing salon, and a fully-equipped medical and dental facility. The Moroccan King also added a basement level, which has a network of tunnels, kitchens, cold rooms, storage spaces and staff quarters. The lucky owner will also find Moroccan mosaics and wall tiles decorating the home, and for any avid equestrians, the home also has a stable big enough for 50 horses. However, some luxury property agents have expressed their doubts on whether the property would sell with its nine-figure sum, with one saying it was an "unrealistic" price tag. "It doesn’t make sense, it’s absurd Properties of this type could sell for 20-25 million, or even 30 million if we really fall in love with them. I’m not even sure that Vaux-le-Vicomte (a Baroque French château), which has no marketing plans, would sell at this price," one agent told French real estate publication Le Figaro Immobilier. Others were unsure whether the changes made by the King in the 1980s would suit modern tastes. Images: Whisper Auctions

Real Estate

If you squat in a vacant property, does the law give you the house for free? Well, sort of

<a href="https://theconversation.com/profiles/cathy-sherry-466">Cathy Sherry</a>, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> Nothing excites law students like the idea of a free house. Or alternatively, enrages them. It depends on their politics. As a result, academics condemned to teaching property law find it hard to resist the “<a href="https://classic.austlii.edu.au/au/journals/MelbULawRw/2011/28.html">doctrine of adverse possession</a>”. The fact that a person can change the locks on someone else’s house, wait 12 years, and claim it as their own, makes students light up in a way that the Strata Schemes Management Act never will. The idea of “squatters’ rights” has received a lot of media attention recently amid the grim reality of the Australian housing market. It fuels commentators such as Jordan van den Berg, who <a href="https://www.instagram.com/purplepingers/">critiques bad landlords</a> on social media. Casting back to his days as a law student, <a href="https://www.sbs.com.au/news/the-feed/article/jordan-was-fed-up-with-australias-empty-houses-his-proposal-has-led-to-death-threats/stx6rv6fl">he’s promoting</a> the doctrine of adverse possession as a way of making use of vacant properties. As interesting as the doctrine is, it has little relevance in modern Australia. While it is necessary to limit the time someone has to bring legal proceedings to recover land – typically 12 or 15 years, depending on which state you’re in – most people don’t need that long to notice someone else is living in their house. If a family member is occupying a home that someone else has inherited or a tenant refuses to vacate at the end of a lease, owners tend to bring actions to recover their land pronto. So where did this doctrine come from, and what has it meant in practice? <h2>Free house fetching millions</h2> In unusual circumstances, people can lose track of their own land. Just before the second world war, Henry Downie moved out of his house in the Sydney suburb of Ashbury. Downie died a decade later, but his will was never administered. At the time of his death, a Mrs Grimes rented the house and did so for a further 50 years. Downie’s next of kin did not realise they had inherited the house or that they were Grimes’s landlord. Grimes died in 1998 and Bill Gertos, a property developer, saw the house was vacant. He changed the locks, did some repairs, then leased the house and paid the rates for the next 17 years. He then made an application under <a href="https://classic.austlii.edu.au/au/legis/nsw/consol_act/rpa1900178/s45d.html">NSW property laws</a> to become the registered proprietor. At this point, Downie’s next of kin became aware they may have been entitled to the property and disputed Gertos’s claim. The <a href="https://www8.austlii.edu.au/cgi-bin/viewdoc/au/cases/nsw/NSWSC/2018/1629.html">court held</a> Gertos had been “in possession” of the property since the late 1990s. The next of kin had a legal right to eject him, but they had failed to do so within the statutory time limit of 12 years. Gertos had the best claim to the house. He <a href="https://www.domain.com.au/6-malleny-street-ashbury-nsw-2193-2015821514">promptly sold it</a> for A$1.4 million. Outrageous as this may seem, the law encourages caring for land. If you fail to take responsibility for your land, and someone else does, you can lose it. <h2>An old English tradition</h2> Gertos’s jackpot was unusual, and adverse possession has always been more relevant in a country like England. First, for much of English history, many people did not have documentary title (deeds) to their land. People were illiterate, parchment was expensive, and documents could disappear in a puff of smoke in a house fire. The law often had to rely on people’s physical possession of land as proof of ownership. Second, as a result of feudalism, vast swathes of England were owned by the aristocracy. They and their 20th-century successors in title, often local councils, had a habit of forgetting they owned five suburbs in London. In the post second world war housing crisis, thousands of families, and later young people and students, <a href="https://www.bbc.co.uk/sounds/play/b017cfv4">squatted in vacant houses</a> owned by public and private landlords who lacked the means or motivation to maintain them. <h2>A sign of the times</h2> In contrast, in Australia, for most of our settler history, governments of all political persuasions actively prevented the emergence of a landed class. But now, courtesy of tax policies that <a href="https://www.quarterlyessay.com.au/essay/2023/11/the-great-divide">encourage investment</a> in residential real estate, we have a landlord class of Baby Boomer and Gen X investors. That has caused housing market stress as younger people cannot make the natural transition from being renters to homeowners. They are outbid by older, wealthier buyers whose tax benefits from negative gearing increase with every dollar they borrow to buy an investment property. Money flowing into the market then means that landlords’ greatest benefit is capital gain rather than income, and thanks to John Howard, investors pay <a href="https://theconversation.com/stranger-than-fiction-who-labors-capital-gains-tax-changes-will-really-hurt-109657">no tax</a> on half of that gain. Finally, an almost exclusive reliance by government on the <a href="https://australiainstitute.org.au/post/for-more-affordable-housing-we-need-more-public-housing/">private sector</a> to provide new homes – which it will only do if it is making a profit – has left many people in deep housing stress. While squatters in Australia are likely to find themselves swiftly subject to court orders for ejection, van den Berg’s rallying cry indicates just how inequitable the housing market has become. Baby Boomers and Gen X should be on notice – young people want their housing back. <img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/227556/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/cathy-sherry-466">Cathy Sherry</a>, Professor in Law, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/if-you-squat-in-a-vacant-property-does-the-law-give-you-the-house-for-free-well-sort-of-227556">original article</a>.

Legal

"Height of selfishness": Photo at iconic beach sparks debate over etiquette

A photo taken at Bronte Beach has sparked the age old debate over whether picnickers should be allowed to reserve picnic tables by dumping their stuff on them. The image taken at one of Sydney's most popular beaches, showed two picnic tables under the same hut with table clothes and bags on them, but there was no human in sight. “There were at least half a dozen of these tables ‘reserved’ for a couple of hours on Sunday morning from very early in the day,” one annoyed beachgoer wrote on Reddit. “We got there at 7am and left a few hours later. No one was using the tables the entire time we were there.” The post has received hundreds of comments from other annoyed picnickers, with one going as far as calling it "unAustralian". “It's not acceptable,” one person said. “You can reserve it by sitting there yourself, but not by leaving an item.” “Yes, you should be actually using it, not leaving your s**t on there to reserve it for later,” another added. “It's the height of selfishness.” “Move their stuff, move yourself in, and say, ‘it was like this when I got here’,” one commenter suggested. “All I see is a free tablecloth and free bag,” another quipped. However, a few others pointed out that there were other available seats, and that there are unspoken rules around reserving picnic spots. "In this instance, it’s probably okay,” one wrote. “The back table is free, go grab it.” "As long as there’s people there minding the tables, not just throwing a bunch of tablecloths down and walking off, I’m fine with it,” another added. “First come first served.” “If I was bringing a few things from the car I might do this,” a third commented. “Like dropping off the tablecloth and backpack before grabbing the esky etc. But I'd maintain line of sight. Anything else isn't justified in my opinion.” A spokesperson for Waverly Council have asked people to "refrain from reserving tables and always have a back up plan". “Waverley is the second-most densely populated local government area in Australia outside of the City of Sydney, and we attract millions of visitors every year, so our recreational spaces are at a premium," the spokesperson told Yahoo News Australia. “On weekends and at other peak times, picnic tables and barbecues do invariably fill up. So we ask people to share our spaces so that everyone can have a turn.” Images: Reddit

Travel Trouble

Australia's oldest person bids farewell to iconic beach house

In a heartwarming tale that speaks to the enduring love for cherished places and the passing of generational torches, Marija Ruljancich, Australia's oldest person, has bid farewell to her beloved holiday retreat. The Sorrento pile, nestled on Victoria’s Mornington Peninsula, has found new hands, marking the end of an era and the dawn of a promising new chapter. Marija, who reached the remarkable milestone of 110 years in 2023, has been the guardian of this beachside haven for countless years. With its origins tracing back to 1960, when it was designed by the esteemed architect Daryl Jackson AO for local businessman Robert Riley, the house has stood as a testament to timeless design and cherished memories. The sale of this iconic property has not only captured the attention of locals but also stirred the hearts of many across the nation. Despite its undisclosed transaction sum, it's understood that the sale falls within the property's estimated range, a fitting exchange for a home steeped in history and affection. What truly warms the soul is the buyer's commitment to honouring the legacy of Riley House. With plans to restore the dwelling to its original glory, there's a palpable sense of joy and relief within Marija's family. The Melbourne-based buyer, driven by a passion for preserving architectural heritage, sees beyond the bricks and mortar; they envision a continuation of the house's story, enriched by their own memories and experiences. As Liz Jensen of Kay & Burton Portsea recounts the emotional journey of the sale, it's evident that this isn't merely a transaction; it's a celebration of life, love, and the power of preservation. "Congratulations to Australia’s oldest living person," Liz wrote on Instagram, "as today she successfully sells her long-held and much loved Sorrento mid century beachside family holiday home designed by Architect Daryl Jackson AO." The buyer's dedication to retaining even the smallest details, such as the built-in speaker nestled within the dining room cupboard, speaks volumes about their reverence for the past and their vision for the future. Amid whispers of demolishing the home, the decision to uphold its structure stands as a testament to the enduring spirit of community and connection. For those who walked through its halls during inspections, the house isn't just a property; it's a repository of memories, a canvas upon which stories of old Sorrento are painted with every creaking floorboard and whispering breeze. For Marija and her family, and for all those who have been touched by its charm, the legacy lives on – a timeless reminder of the beauty found in preserving the past while embracing the promise of tomorrow. Images: Instagram | Kay & Burton Portsea

Real Estate

Surprising causes of most deaths on Australia’s beaches

Worried about sharks at the beach? Turns out these fearsome fish are not the biggest killers on Australia’s coastline when it comes to non-drowning deaths. <div class="copy"> Instead, depending on a person’s age, it’s more likely that a heart problem or misadventure will lead to mortality, according to research from Surf Life Saving Australia, whose red-and-gold clad patrol teams provide patrol and rescue services for beaches across the country. More than half of non-drowning deaths in the decade between July 2012 and June 2022 were caused by cardiac-related conditions. These accounted for 319 of the 616 deaths along Australia’s coasts. Traumatic and collision injuries – such as blunt force trauma – were the next most common cause of death, accounting for fewer than 1 in 6 deaths. Falls accounted for 1 in 10 fatalities, with marine animal interactions 1 in 20. But the data has other insights beyond cause of death. Males were far more likely to be killed on the coast; victims in almost 9 out of 10 cases. And while people aged over 50 account for most deaths, primarily through cardiac conditions, those below the age of 50 are overrepresented in all other mortality cases. This, the researchers say, is an important consideration when interpreting the data, as deaths from any cause are highest among older people. “Our research showed that males were 5.2 times more likely to die than females, with younger populations found to die disproportionately along the coast with the primary causes being falls and traumatic/collision injuries,” says the study’s lead researcher, Sean Kelly. Kelly and the other SLSA researchers point to those all-cause mortality comparisons. People aged 70+ have 118 times greater all-cause death rate than people aged 16-24. But when looking at non-drowning coastal deaths, it’s only 6 times greater, highlighting disproportionate deaths among young people in these environments. They suggest this is due to higher levels of coastal visitation and the type of activities young people participate in. Where a person lives also matters. “Those living in or visiting rural and remote areas were also found to be at higher risk, largely due to poorer access to services and longer incident response times,” Kelly says. “<a href="https://cosmosmagazine.com/nature/marine-life/shark-attack-triggers-shark-cul/">While sharks are often top-of-mind for those visiting the beach</a>, all marine creatures including sharks and jellyfish only made up 5% of non-drowning deaths and less than 2% of overall coastal deaths.” The study was <a href="https://doi.org/10.1016/j.anzjph.2023.100113" target="_blank" rel="noreferrer noopener">published</a> in the Australian and New Zealand Journal of Public Health. Image credits: Getty Images <div> <noscript data-spai="1"><img decoding="async" class="aligncenter size-full wp-image-198773" src="https://cdn.shortpixel.ai/spai/q_lossy+ret_img+to_auto/cosmosmagazine.com/wp-content/uploads/2023/12/MICROSCOPIC-TO-TELESCOPIC__Embed-graphic-720x360-1.jpg" data-spai-egr="1" width="600" alt="Buy cosmos print magazine" title="surprising causes of most deaths on australia’s beaches 2"></noscript> </div>  <img id="cosmos-post-tracker" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=300638&title=Surprising+causes+of+most+deaths+on+Australia%E2%80%99s+beaches" width="1" height="1" loading="lazy" aria-label="Syndication Tracker" data-spai-target="src" data-spai-orig="" data-spai-exclude="nocdn" /><a href="https://cosmosmagazine.com/australia/surprising-causes-of-most-deaths-on-australias-beaches/">This article</a> was originally published on <a href="https://cosmosmagazine.com">Cosmos Magazine</a> and was written by <a href="https://cosmosmagazine.com/contributor/matthew-agius/">Matthew Ward Agius</a>. Matthew Agius is a science writer for Cosmos Magazine.</div>

Domestic Travel

Inside Ash Barty's new $4m beach pad

Australian tennis sensation Ash Barty has made headlines once again, this time not for her remarkable prowess on the court, but for her latest investment – a breathtaking beachfront apartment on the Gold Coast. The Wimbledon champion recently secured a half-floor sky home in a striking 41.25-metre-high tower, currently under construction at Palm Beach, for close to a whopping $4 million. The 12-story apartment building, aptly named Kloud, is not just another luxury development; it represents a significant milestone for celebrity developer Graya as it marks their debut into the opulent real estate market of the Glitter Strip. Headed by brothers Rob and Andrew Gray, Graya has carved a niche for itself by creating show-stopping residences in Brisbane for high-profile clients, including sports stars like rugby league great Darius Boyd and renowned figures like rapper Example and his then-wife, model Erin McNaught, along with rugby players Quade Cooper and Izzy Folau. For Ash Barty, this investment signifies more than just acquiring a lavish property; it's about indulging in a lifestyle befitting her status. With earnings exceeding $30 million throughout her illustrious tennis career, Barty's purchase of this beachfront abode reflects her penchant for luxury and relaxation. It's reported that she intends to use the Jefferson Lane apartment as a lock-and-leave holiday home, allowing her to escape the rigours of public life and bask in the serene coastal ambiance whenever she desires. Speaking about Barty's choice, Rob Gray <a href="https://www.realestate.com.au/news/tennis-star-ash-bartys-lavish-gold-coast-property-score/" target="_blank" rel="noopener">told Realestate.com.au</a> that “the proximity to the water afforded by the beachfront location on Jefferson Lane gives the apartments such a premium luxury feel, and Palm Beach offers that relaxed holiday lifestyle. Like myself, I assume Ash and her family will want to spend every weekend there.” Now, let's take a glimpse inside Barty's new coastal sanctuary. Spanning approximately 200 square metres of living space, this four-bedroom, three-bathroom apartment offers panoramic ocean views that will leave anyone in awe. The design seamlessly integrates indoor and outdoor living, with soaring glass walls opening onto a private balcony complete with an integrated barbecue kitchen, ideal for entertaining guests against the backdrop of the shimmering sea. Inside, the interiors exude sophistication and refinement, featuring open-plan living areas adorned with European oak floorboards and a kitchen boasting sleek finishes such as a large island dining bar, integrated Miele appliances, and natural stone surfaces. The master bedroom is a sanctuary in itself, boasting plush wool carpeting, a walk-in robe, and an ensuite bathroom replete with indulgent amenities like a walk-in twin shower, dual vanity and a luxurious freestanding bath. For Barty, this acquisition comes at a pivotal moment in her life. Having retired from professional tennis at the age of 25 in 2022, she has embarked on a new chapter, one that sees her building her dream home in Brookwater, a residential community situated close to her hometown of Ipswich, west of Brisbane. While her tennis career may have come to an end, her legacy continues to flourish both on and off the court, solidifying her status as not just a sporting icon but also a discerning connoisseur of luxury living. Images: GRAYA \ Instagram

Real Estate

Homeowner fined just $667 over fire that killed six people

A homeowner has been slapped with a fine for smoke alarm failure after a house fire killed six people. The 61-year-old woman has been forced to pay just $667 for failing to install legally required and compliant smoke alarms, after a father and his five children died in the property due to a deadly house fire. Donna Rose Beadel was the owner of the home on Russell Island where Wayne Godinet, 34, and his five sons were residing in August 2023. The house was engulfed in flames, also destroying two neighbouring homes and leaving several people needing treatment for minor burns and smoke inhalation, while the children's mother Samantha Stephenson, and another woman survived the blaze. Cleveland magistrate Deborah Vasta handed down the maximum fine of $667.25 to Ms Beadel for failing to comply with smoke alarm legislation, saying, "It seems a pittance, however it's not for me to comment on the laws." "It's absolutely no excuse that she failed to keep abreast of the laws required of an investment property owner in having the premises legally wired with smoke detectors after January 2022," Vasta said. The fine comes just weeks after the children's grandmother claimed her daughter had "begged" their landlord to <a href="https://oversixty.com.au/finance/legal/major-claim-in-investigation-into-deadly-house-fire-that-killed-five-children" target="_blank" rel="noopener">fix</a> the smoke alarms in the house. When Ms Beadel was charged for her involvement in the tragedy, Rebecca Stephenson claimed that her daughter had spoken to the landlord about updating the smoke alarms in the property just one week before the fire. Image credits: Nine

Legal

Elevating tradition: La Traviata at the Sydney Opera House

Opera Australia is set to enchant audiences as it opens its highly anticipated 2024 season with the Sydney premiere of Sarah Giles’ acclaimed production of Verdi’s timeless masterpiece, La Traviata. The curtains will rise on January 2nd at the iconic Joan Sutherland Theatre in the Sydney Opera House, promising an unforgettable journey into the world of love, sacrifice and redemption. Hailed as "an absolute triumph" by The AU Review and described as "audaciously new" by InReview, this co-production by Opera Queensland, State Opera South Australia and West Australian Opera promises to deliver the quintessential glamour of La Traviata while offering a fresh, female perspective. Director Sarah Giles skilfully brings the inner turmoil of Violetta to the forefront, shedding light on the harsh realities and heartaches of her life as a courtesan. Enhancing the narrative, Charles Davis' masterful set design delves into Violetta's public and private spheres, while his costumes brilliantly capture the opulent world of lavish parties and extravagance synonymous with La Traviata. For the first time, the award-winning conductor Jessica Cottis will take the baton, leading the Opera Australia Orchestra and the celebrated Opera Australia Chorus through Verdi's emotionally stirring score. Audiences can anticipate spine-tingling renditions of iconic pieces such as the lively "Brindisi" and the achingly beautiful "Sempre libera". Taking centre stage as Violetta, Australian soprano Samantha Clarke, fresh from a string of successful debuts in prestigious venues worldwide, including Carnegie Hall and the Sydney Symphony Orchestra, is set to mesmerise audiences with her poignant portrayal. Joining her are the talented Australian-Chinese tenor Kang Wang, reprising the role of Alfredo, and New Zealand baritone Phillip Rhodes, making his Opera Australia debut as Giorgio Germont. As the season progresses, rising Australian soprano Sophie Salvesani will step into the shoes of Violetta, a role she previously captivated audiences with in 2022. Alongside her, Australian tenor Tomas Dalton returns as Alfredo, while baritone Luke Gabbedy, fresh from his acclaimed performance in OA's five-star production of the Ring Cycle in Brisbane, graces the stage as Giorgio Germont. Prepare to be swept away by the passion, drama, and timeless melodies of La Traviata, as Opera Australia invites you to experience this unforgettable journey of love and sacrifice, reimagined for a new era. Don't miss your chance to witness this exquisite production at the Sydney Opera House, from January 2nd to March 16th, 2024. For more information, <a href="https://www.sydneyoperahouse.com/opera-australia/2024-season/la-traviata" target="_blank" rel="noopener">click here</a>.

Art

What is negative gearing and what is it doing to housing affordability?

<a href="https://theconversation.com/profiles/michelle-cull-340911">Michelle Cull</a>, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> Australia’s housing crisis is putting the <a href="https://www.mortgagechoice.com.au/guides/what-is-the-great-australian-dream/">Australian dream</a> to own one’s home out of reach for many. But it’s not just <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">home ownership</a> that has been affected. Rental affordability has also become a serious issue. This has reignited the debate about negative gearing; whether or not it is fair and whether it holds the key to fixing the housing crisis. <h2>What is negative gearing?</h2> <a href="https://treasury.gov.au/review/tax-white-paper/negative-gearing">Negative gearing</a> refers to using borrowed money to invest in an asset so it results in a loss which can be claimed as a tax deduction against other income. For example, a property investment is negatively geared if the net rental income received is lower than the mortgage interest. The loss is then offset against other income, such as wages and salaries, which reduces the amount of income tax payable. Negative gearing is commonly used for property investments but also applies to other investments (such as shares). Investments can also be positively geared when net income from the investment is more than the interest on borrowings. The attractiveness of negative gearing in Australia is mainly due to its ability to reduce the amount of income tax. For this reason, it can be more beneficial to individuals who are on higher marginal tax rates. However, capital gains tax must be paid on any gain when the asset is sold. <h2>How does negative gearing work?</h2> Let’s look at a simple example of negative gearing. Say an investment property was rented to tenants at A$500 a week ($26,000 a year), and associated expenses (such as agent fees, rates, mortgage interest, maintenance) were $40,000 for the year. This leaves a shortfall of $14,000. The property owner can deduct the $14,000 from their taxable income to reduce their liability. For example if they received $100,000 from wages, they would pay tax on only $86,000 (saving $4,550 in income tax). Individuals on higher incomes and therefore higher marginal tax rates would receive larger tax deductions (for example, someone earning over $180,001 would pay $6,300 less tax). While negative gearing an investment property can reduce tax while it is being rented, it can also result in a large <a href="https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/what-is-capital-gains-tax">capital gains tax</a> bill once the property is sold (even though capital gains tax is halved for assets held for more than 12 months). For example, if the cost base for a property purchased ten years ago was $400,000 and it sells for $900,000 today, capital gains tax would be calculated on half of the $500,000 difference. At a marginal rate of 45%, the tax bill would be $112,500. <h2>How widespread is it in Australia?</h2> According to the <a href="https://data.gov.au/data/dataset/taxation-statistics-2020-21">Australian Taxation Office</a>, about 2.25 million individual tax payers (21% of all individual tax payers) claimed deductions against rental income for a total 3.25 million properties in 2020-21 financial year. Of these, 47% negatively geared their properties, claiming a net rental loss. This is equivalent to just less than 10% of all taxpayers. Investors with fewer properties were more likely to be using negative gearing with over 71% of property investors having only one investment property. <hr /> <iframe id="Wv9lV" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/Wv9lV/" width="100%" height="400px" frameborder="0"></iframe> <hr /> The largest group of property investors (524,220) had one investment property and a total annual taxable income between $50,001 and $100,000. The chart above shows the proportion of property investors by age group. From 2016-2017 to 2020-2021, the total net rental income on property investments in Australia went from a loss of $3.3 billion to a gain of $3.1 billion (as you can see from the chart below). For the same period, the proportion of investors negatively gearing their properties dropped from 58% to 47%, as lower interest rates reduced losses. <hr /> <iframe id="fXnoe" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/fXnoe/" width="100%" height="400px" frameborder="0"></iframe> <hr /> Negative gearing is also becoming less attractive with the government’s recent changes to <a href="https://treasury.gov.au/tax-cuts">tax brackets and marginal tax rates</a>. According to a study conducted by <a href="https://www.pexa.com.au/staticly-media/2023/03/Whitepaper-2-Private-renting-in-Australia-a-broken-system_compressed-sm-1679450145.pdf">LongView and PEXA</a>, 60% of property investors would be financially better off if they instead put their money into a superannuation fund. <h2>When was it introduced?</h2> Negative gearing has been allowed under tax laws since 1936. It was thought it would encourage investment in housing and increase supply. However, debate around its impact on housing affordability led the government to partially abolish it in 1985 by not allowing rental property losses to reduce tax on other sources of income. There was a shortage of housing and rents rose during the two years it was abolished. As a result, in 1987, negative gearing was reinstated and capital gains tax legislation was introduced. <h2>Is it used in other countries?</h2> Canada, Germany, Japan and Norway use negative gearing. In Finland, France and the United States, rental losses can offset future rental income only. In the US, <a href="https://www.irs.gov/publications/p936#en_US_2023_publink1000229891">home owners are entitled</a> to claim a tax deduction for mortgage interest on their own home. The use and benefit of negative gearing depends upon all aspects of a country’s tax system. So although it may be attractive in countries with high marginal tax rates, other taxes such as capital gains tax, land tax and stamp duties may reduce its appeal. <h2>Negative gearing’s impact on housing affordability</h2> Many factors affect the cost of housing, including interest rates, inflation, employment, the overall taxation system and population growth, making housing affordability a complex issue. <a href="https://www.smh.com.au/politics/federal/nz-kills-tax-loophole-on-property-to-slow-soaring-house-prices-20210323-p57d9s.html">In New Zealand, negative gearing is being phased out</a> due to its impact on housing prices. However, unlike Australia, New Zealand does not have capital gains tax, making negative gearing more popular and more likely to impact housing prices. In addition to phasing out negative gearing, the New Zealand government <a href="https://www.hud.govt.nz/our-work/public-housing-plan/">increased the supply of public housing</a> and <a href="https://www.abc.net.au/news/2023-09-25/nz-auckland-house-supply-experiment-results-in-dramatic-change/102846126">relaxed zoning regulations</a> to provide more affordable housing. In Australia, however, there are concerns abolishing negative gearing will cause rents to rise, as they did in the 1980s. More innovative approaches to housing affordability are needed to ensure ample supply of property for first home buyers and tenants. Some consideration could be given to allowing first home buyers to claim a tax deduction for mortgage interest, increasing capital gains tax, limiting the number or type of investment properties held, capping rent increases, or more infrastructure investment from the government for first home buyers and social housing. One or more of these measures would be a step in the right direction. Negative gearing on its own is not the answer to housing affordability. The whole system needs an overhaul, with a combination of measures needed to adequately address affordability, for now and for future generations. Taking no action will put home ownership out of reach for even more Australians.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/223823/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/michelle-cull-340911">Michelle Cull</a>, Associate professor, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-negative-gearing-and-what-is-it-doing-to-housing-affordability-223823">original article</a>.

Money & Banking

Surprising Aussie beach crowned best in the world

An iconic Australian beach has been named the best in the world in a prestigious list of the most picturesque coastlines on the planet. Each year, <a href="https://www.cntraveller.com/gallery/best-beaches-in-the-world" target="_blank" rel="noopener">Condé Nast Traveler</a> ranks the beaches from around the world to curate a list of 34 locations that every beach lover needs to visit. In the top ten list, five beaches from both Australia and New Zealand feature, living up to the countries reputations of stunning coastlines. With a “combination of leaning palm trees on powdery sand”, the publication crowned Palm Cove Beach as the best beach in the world, describing the spot in Queensland as “the epitome of a tropical paradise”. Located north of Cairns, the publication shared that Palm Cove is relatively “crowd free” and home to a range of unique wildlife. While many on social media were quick to agree with the winning location, others argued that there are beaches around Australia more deserving of the crown. “The only way you rank Palm Cove as the best beach in the world is if you have never been to Palm Cove or don’t like beaches,” one wrote. “Eyre Peninsula beaches leave Palm Cove for dead,” another added. “Best beach if you don’t ever want to go in the water. What about all the magic in WA?” one questioned. Check out the top 10 list of the world’s best beaches below. 10. Die Plaat, South Africa 9. Awaroa, South Island, New Zealand 8. Noosa Beach, Australia 7. Dune du Pilat, France 6. Mona Vale Beach, Australia 5. Ora Beach, Indonesia 4. Wategos Beach, Australia 3. Brekon, Shetland 2. Honopu Beach, Kauai, Hawaii 1. Palm Cove Beach, Australia Image credits: Shutterstock

International Travel

Major claim in investigation into deadly house fire that killed five children

The grandmother of five children who died alongside their father in a tragic house fire has spoken out, claiming her daughter had "begged" their landlord to fix the smoke alarms in the house. In August last year, Wayne Godinet, 34, died along with his four-year-old twins Kyza and Koa, his three-year-old son Nicky, and his stepsons Zack, 11, and Harry, 10, in a <a href="https://oversixty.com.au/news/news/6-beautiful-souls-family-break-silence-after-tragic-house-fire" target="_blank" rel="noopener">horrific blaze</a> in Queensland's Russell Island. Mr Godinet and his sons became trapped upstairs of the two storey home after he raced back into the house to save them, while the children's mother, Samantha Stephenson, 28, and her sister were able to escape the fire. On Wednesday, the owner of the rental property, 61-year-old Donna Rose Beadel, was charged by police over her alleged involvement in the tragedy. The family has spoken out in anger, with the grandmother of the five boys, Rebecca Stephenson, claiming that her daughter had spoken to the landlord about updating the smoke alarms in the property just one week before the fire. Ms Stephenson told the Courier Mail, “The week before it happened, Sam texted the landlady and asked for the smoke alarms to be updated.” She claims she knew of at least three times her daughter had asked for the smoke alarms to be fixed. “It was the first thing you noticed when you walked into the house, a smoke alarm hanging from the ceiling and then a marking of one in the kitchen that had been painted over,” she added. Police allege that Ms Beadel's property did not have compliant smoke alarms when the fire broke out, with police further alleging that she wasn’t present when the fire occurred. Image credits: Facebook

Legal

Valentine's Day proposal sparks backlash for litter

While Valentines day is the perfect day to celebrate all kinds of love, Manly residents were left fuming in the aftermath of one couple's elaborate proposal. On Wednesday, residents were forced to pick up "hundreds of plastic petals", used candles and plastic wrapping discarded on Manly beach, which marine experts have branded "very intentional" littering. One local said that "no attempt was made to pick it up" and they were sure that hundreds of the petals would've already "blown into the sea to float around choking wildlife for the next several hundred years". "Candles were placed in the sand, so it seems the celebration took place there on the beach as well as above by the footpath," the resident wrote in a Facebook post. "Plastic petals are cheaper than the real thing, but surely whoever you’re doing this for would prefer fewer real petals to hundreds or thousands of fake ones. "I usually just pick things up and get on with it but this was all very intentional and I believe it doesn’t actually occur to some people to consider the impact when making decisions like this so I want to say: Think about your long term impact, make choices accordingly and feel better about them." Conservationists have also slammed the act, and said that the littering would likely result in the death of wildlife. "These photos are pretty shocking to see, especially knowing that these items were intentionally littered," vice president of Ocean Conservancy’s plastics program, Nicholas Mallos told Yahoo News. "In sufficient quantities, ingesting plastics like these can absolutely harm birds and sea creatures. He added flexible plastics and polyester petals can be deadly if it is consumed by smaller animals as it can block their digestive tracts causing them to starve, and disrupts their reproductive behaviours. "It takes only a few tiny pieces of plastic to kill a sea turtle hatchling, for example," Mallos said. "There’s no doubt the beach is a spectacular setting for an event, but it does require special attention to protect the surrounding ecosystem," he added. AMCS Plastics & Packaging Program Manager Tara Jones also agreed, and said there are "far better earth-safe alternatives." She said that "around 90 per cent of all seabirds alive today have ingested plastic of some kind." "Juvenile sea turtles, like the ones hatching now along the Queensland coasts, have been known to ingest hundreds of pieces of plastic in their short life. "Our ocean wildlife deserves better." Images: Facebook

Relationships

Pink spotted at Bondi ahead of national tour

In a dazzling spectacle of beach vibes and sun-soaked fun, pop sensation Pink has graced the shores of Bondi Beach ahead of her highly anticipated Australian tour. The iconic singer, known for her powerhouse performances and unapologetic personality, was spotted basking in the Aussie sun with her adorable children, making waves Down Under. The excitement was palpable as Pink, with her trademark pink hair, took to social media to express her joy at being back on Australian soil. "Bondi Beach, it's been too long!!!!!!! Bills was delicious, too. ️Soooooooo happy to be back on this side of the world! Thank you beautiful Australia for being our home away from home. Kids are stoked," she gushed alongside some envy-inducing beach pictures. It seems Bills, a popular eatery in Sydney, left quite the impression on the star. If Pink says it's delicious, it's practically a culinary endorsement for the ages. (Move over food critics; Pink's tastebuds have spoken.) But this isn't Pink's first love letter to the Land Down Under. The singer has long expressed her admiration for Australia and has been a staunch supporter during challenging times. In 2020, she pledged a generous $500,000 donation to the country's fire services during the devastating Black Summer bushfires, proving she not only rocks the stage but also has a heart of gold. As Pink gears up for her stadium tour in Australia, aptly named the Summer Carnival tour, fans are eagerly anticipating a spectacle that will undoubtedly leave them smiling and singing until their cheeks hurt. Kicking off at Sydney's Allianz Stadium on February 9, the tour will then take Pink and her musical carnival to various cities, including Newcastle, Brisbane, Gold Coast, Melbourne, Adelaide and Perth. It's been nearly six years since Pink's 2018 tour, Beautiful Trauma, which wowed almost 560,000 Australian and New Zealand fans. Eager to share the joy once again, Pink expressed her excitement, saying, "I can't wait to bring the Summer Carnival tour to my home away from home and smile and sing together until our cheeks hurt. Summer 2024 can't come soon enough!" The tour is not just a celebration of Pink's electrifying stage presence but also a nod to her ninth album, Trustfall, released in February the previous year. The anticipation is building, and fans can't wait to witness the magic unfold live on stage. Adding a touch of whimsy to the excitement, Pink <a href="https://www.oversixty.com.au/entertainment/music/my-home-away-from-home-pink-s-dream-down-under" target="_blank" rel="noopener">teased the possibility</a> of making Australia her permanent home last year. In an interview with 60 Minutes, she revealed, "Last year, I was thinking about applying for citizenship; I am not even joking. I was like, 'If we're going somewhere Carey, [Australia] is where we're going'." Australia, get ready to welcome Pink with open arms – she might just become our newest citizen! So, as Pink readies to paint Australia with her musical colours and contagious energy, fans are counting down the days until the Summer Carnival kicks off, promising a tour de force that will linger in their memories long after the final note fades away. Bondi Beach, Bills, and a Summer Carnival – it's a Pink party, and everyone's invited. Images: Instagram

Domestic Travel

"She was everything": Beach Boys' Brian Wilson shares devastating news

The Beach Boys singer-songwriter Brian Wilson has shared that his wife of nearly 30 years has passed away. The 81-year-old musician broke the news on Instagram on Wednesday morning, saying that his "heart is broken" after his wife Melinda Ledbetter Wilson died aged 77. "Melinda, my beloved wife of 28 years, passed away this morning. Our five children and I are just in tears. We are lost," he wrote in his post, underneath two pictures of his wife. "Melinda was more than my wife. She was my saviour. She gave me the emotional security I needed to have a career," he said. "She encouraged me to make the music that was closest to my heart. She was my anchor. She was everything for us. Please say a prayer for her. Love and Mercy, Brian." <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/p/C2vSn-zO_32/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/C2vSn-zO_32/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Brian Wilson (@brianwilsonlive)</a> </div> </blockquote> In his post, he also shared a tribute that appeared to come from their five children collectively, which read, "It is with a heavy heart that we let everyone know that our mum, Melinda Kay Ledbetter Wilson passed away peacefully this morning at home." "She was a force of nature and one of the strongest women you could come by. She was not only a model, our fathers [sic] savior, and a mother, she was a woman empowered by her spirit with a mission to better everyone she touched. We will miss her but cherish everything she has taught us," the statement read. "How to take care of the person next to you with out expecting anything in return, how to find beauty in the darkest of places, and how to live life as your truest self with honesty and pride." They added, "We love you mum. Give Grandma Rose and Pa our love." Brian and Melinda first met in 1986 and married in 1995, before adopting their five children. Their love story and relationship was portrayed in the 2014 biographical drama film Love & Mercy, which starred John Cusack and Elizabeth Banks. Image credits: Getty Images

Caring

Teen lifesaver's heroic rescue after cliff jump

A teen lifesaver has been praised for her heroic effort to rescue three boys stranded in a cave, after a cliff jump went wrong. With temperatures soaring up to 37C near the coast in Sydney, many locals decided to go to the beach to escape the heat. One group of teenage boys decided to go cliff jumping over the Warriewood Blowhole, north of Manly. But, things started to go wrong when one 15-year-old boy slammed his head on the water after diving from the cliff, leaving him semi-unconscious. As his two friends clambered over rocks to move him into a cave below the cliff, the trio quickly became stranded as waves pounded the rocks. Lifesaver Saskia Rundle Towbridge, 16, was quick to jump into action, hopping into the rubber duck and bravely manoeuvring her way through rough waves to rescue the boys. “The waves were pretty big, especially when I was coming in,” she told Nine. “I got thrown up against them, and the cord of my rescue tube was stuck on the rocks, so I was being battered for about two minutes.” She eventually made it onto the rocks and was able to swim the boys back to the boat. The injured teen was treated by lifesavers before an ambulance was called, as he was disoriented and couldn't remember where he was. The 15-year-old was taken to Northern Beaches Hospital and is in a stable condition. Images: Nine

Domestic Travel

9 things you should never touch in someone else’s house

A hands-off approach Nothing like a global pandemic to critically alter your lifelong and intrinsic sanitary practices, huh? And while we know coronavirus does not spread easily from surfaces, there are still plenty of other germs and bacteria that do. And it’s not always a matter of good hygiene – sometimes it’s just a matter of good manners! The door Of course, you can actually touch the door, but you should never do so to let yourself into someone else’s home without them, or without being invited. Always knock or ring the bell, even if it’s been left unlocked, unless someone has expressly told you that you don’t have to. And please, don’t show up knocking earlier than expected – it could be a huge inconvenience to your host. Their bathroom As with most of the things on this list, you should avoid this unless you’re specifically invited. Try not to stray after your trip to the bathroom for a look around – it’s definitely off-limits if you don’t have permission or are going in without your host knowing. Of course, there are exceptions, as it may not be so serious an offence if you know the person very well, or if one lives in a shared living space, a studio, or an apartment with limited space. And on that note, it’s best to wait until you’re invited to sit or relax on someone’s bed. Many people also find that a bedroom is a convenient place to store coats if there are guests coming over, but wait until they offer instead of assuming it’s OK. The floor - with your shoes on Depending on personal preferences or cultural norms, many households have a no-shoes-inside policy. Take the tip from your host – if they’re wearing shoes in their house, you can probably assume it’s OK for you. When in doubt, ask what they would prefer. Another place you shouldn’t be putting your feet? On the couch or coffee table. I can think of five good reasons you should ban shoes in the house, period. The fridge and cupboards This one might sound like it should go without saying, but some might not realize just how rude it is to help yourself to someone else’s food. If you’re hungry, let your host know, or suggest going out to eat. If you’re staying for a long time, your host will probably prepare and shop for food accordingly, but it’s a good idea to offer to bring or buy some groceries yourself. And if you came for dinner, eat what’s been prepared for you, and offer to bring a dish or wine to share. If you have a restricted diet, let your host know beforehand and prepare a dish to bring if it’s difficult to accommodate. Offer to help cook, and lend a hand with the dishes and cleanup. Countertops are absolutely one of those things you should be cleaning every day, regardless. The windows or thermostat Always let your hosts set the thermostat number – it’s their house, after all, and they’re the ones paying the bill for it. If you’re really too cold, a better option might be to ask to borrow a jumper, or extra blankets if you’ll be staying overnight. Too hot? Suggest an activity to help cool off, like going to a place with air conditioning. If you have a medical condition that makes you particularly sensitive to heat or cold, you should always inform your host ahead of time so you can make plans accordingly. Drawers and cabinets This one is definitely invasive of your host’s privacy. Don’t go rummaging for anything that’s not in plain sight or in the rooms your host is expecting you in. You might find it tempting to snoop, but the medicine cabinet is certainly off-limits. Workspaces, mail, or bills To go along with the last one, it’s always best to avoid snooping. In some homes, a guest bedroom might also double as a home office, so steer clear of using these spaces to store your things. You have no idea how they might have organised their things, so try to leave it as is. Not going through someone’s mail is basic manners! Cigarettes or e-cigarettes Unless your host is doing the same and gives you permission, you should never, ever start smoking a cigarette or e-cigarette in someone’s home. This rule is especially inflexible if there are children in the house. Not only can you expose them to the harmful ingredients and chemicals in cigarettes, but the effects – and the smell – can linger long after you’re gone. If you can’t wait, excuse yourself to go outside, and try to move away from doors and windows so it doesn’t waft into the house. Removing the cigarette and cigar smell is quite the cumbersome task. The Wi-Fi Try to refrain from asking for the Wi-Fi password unless you’re a long-term guest or a very frequent visitor. If you’re asking at the beginning of a dinner party, it’s sending the message that you’d rather be on your phone. Try to stay off of your phone as much as possible to really have quality time when you’re visiting. Image credits: Shutterstock This article originally appeared on <a href="https://www.readersdigest.com.au/true-stories-lifestyle/9-things-you-should-never-touch-in-someone-elses-house" target="_blank" rel="noopener">Reader's Digest</a>.

Home & Garden

Baby boomer's "humble brag" backfires spectacularly

A baby boomer has been mercilessly mocked online after complaining that the value of her home skyrocketed by $1 million. A Sydney mother took to Reddit to share that she purchased a family home for $2 million six years ago, and was shocked to learn her neighbour had sold their home for a whopping $3 million. The boomer parent feared that the property market was becoming so unaffordable that her children would also need to come up with a seven-figure sum to eventually own their own homes. Despite the poster being genuinely concerned, commenters on Reddit were less than sympathetic that her children might end up "worse off", and asked why they even needed a multi-million dollar home in the first place. The mother insisted that she was not bragging about her situation and that she considered herself "lucky" to be able to buy her first house "when they were affordable". "Prices have risen since, it's not news to anyone," she wrote. "I have never been excited about the value of my house going up because I've always known it just meant things would be harder for my kids and all other younger people." Despite trying to appear understanding of the plight of would-be homeowners, she was slammed for her "tone deaf" take on the issue. "Oh my heart bleeds, but why do your kids need multi-million dollar homes," one user asked. Another user said that her "humble brag" was "very sad". Others agreed that she was facing the reality that they had been facing for years and suggested that she toned down her children's expectations for home ownership. Image credits: Getty Images

Money & Banking

Why Dave Hughes didn't buy the final Block house

David ‘Hughesy’ Hughes was the surprise guest at this year's The Block auctions, and the Aussie comedian was keen on buying the final home to go on auction – Leah and Ash’s house. Hughes was one move away from buying House 2 - which was passed in after it failed to hit reserve - but his wife blocked him from buying the home. “I was accosted as I left the auction, trying to get out of there, because one house didn’t sell and I said, ‘I’ll go talk to my wife’,” Hughes said on KIIS FM’s Hughesy, Ed & Erin on Tuesday morning. The radio host then called his wife Holly live-on-air so she could explain the reason why they did not buy House 2. Holly revealed that she "was being asked by students and teachers,” about whether or not the couple bought the Block house. “You [Hughes] came home and as we were getting into bed, you said, ‘How would you have felt if I just bought that house?’ And I said, ‘Furious’," Holly revealed. She then called out her husband, claiming that he only wanted to buy the house to "show off". “If you bought a third house [in Melbourne] without consulting with me …” she said. “He never expressed any interesting in investing in that part of Melbourne, it’s so random, he would’ve just been buying a house to show off. “He had not looked at the houses or anything. He hadn’t watched an episode.” Although Hughes didn't get a property this season, his <a href="https://www.oversixty.com.au/finance/money-banking/dave-hughes-sets-the-record-straight-over-famous-block-house-purchase" target="_blank" rel="noopener">previous Block buy</a> in 2017 was a huge success. Image: Nine

Money & Banking

Tiny house, big dreams: How to take a trip and give back at the same time

When it comes to getting away over the summer, there is no one size-fits-all option to accommodate everyone’s unique needs. Some of us may prefer an off-the-grid adventure to the bush to reconnect with nature, while others just can’t pass up an opportunity to lay on the beach and frolic in the ocean. But if there’s one thing every holiday goer can agree on, it's the absolute need to relax. Luckily, <a href="https://reflectionsholidayparks.com.au/" target="_blank" rel="noopener">Reflections Holiday & Caravan Parks</a> has something for everyone this summer. From blissful camping and caravanning sites to luxurious tiny homes and creature-comfort cabin accommodation, Reflections is proud to be New South Wales’ largest holiday park operator, showing 2 million visitors a year the magic of the outside. You can feel good about your stay with Reflections, as the company is the first and only holiday park group in Australia that is certified as a <a href="https://www.socialtraders.com.au/news/what-is-a-social-enterprise" target="_blank" rel="noopener">social enterprise</a>. That means the profits from the parks go back into the Crown land nature reserves the company manages to protect and nurture the land, for their lasting preservation and the community’s enjoyment while also giving back to local areas. A holiday here is essentially giving back to the local environment and community. I was lucky enough to be invited for a trip away with Reflections, and stayed in a charming Tiny House at the Jimmy’s Beach park in Hawk’s Nest on the mid-coast of NSW. Despite bringing the dreary Sydney rain with me up the coast, my stay with Reflections was nothing short of a dream. The tiny house provided all the comforts we needed on an overcast weekend, with the cosy atmosphere providing the perfect place to fully unwind from busy city life. Despite being, by name, a tiny house, the one bedroom home provided everything we needed, including a comfy bed, spacious shower, a large lounge and TV, as well as everything you could need to cook your own meals. A spacious deck was also most welcome, giving you the chance to sit in the sun and take in the picturesque nature around you, while spotting the best of Australia's wildlife. As the sun came out, we were able to indulge in all that Reflections had to offer, including bush walks, trips to the beach and even a dip in the pool. The sense of community in Reflections holiday parks is palpable, as making friends and meeting new people is encouraged and fostered, with a welcoming environment making it easy to hear the life stories of others as you cross paths in communal areas. The holiday parks are also perfect for families, with playgrounds available for the little ones, and even an ice cream truck making the rounds while playing Waltzing Matilda to signal the arrival of delicious treats. So, when booking your summer trips away, whether you’re after a quiet beach stay, a family-friendly destination, or an exploration off the beaten track, a stay at a Reflections Holiday Park is sure to leave you refreshed, reconnected, and ready for whatever comes your way. Image credits: Supplied

Domestic Travel

Dave Hughes sets the record straight over famous Block house purchase

Dave Hughes has hit back at long-standing rumours that he grossly overpaid for his house in Melbourne at The Block auctions. The radio host addressed the speculation on 2DAY FM’s Hughesy, Ed & Erin breakfast show, as his co-host Erin Molan queried him about how the investment property was performing. In 2017, Hughesy bought the five-bedroom home in Elsternwick, built by contestants Josh and Elyse on Nine’s long-running reno show, for $3.067 million: a whopping $447,000 over the reserve. Given the steep increase of the price, the purchase of the house led to a lot of talk that Dave Hughes had overspent. Molan told her co-host on-air that a recent value estimate of the property that she’d found online put the home at $3.4 million. Six years on from his purchase and with inflation, stamp duty and other factors weighted, Hughes noted that that $300,000-odd increase in value would actually put him at a loss. However, Hughes said he had recently had the house valued himself, and the news was much better: He was told it is currently worth around $5 million. After the purchase of the house, even Hughes himself conceded that he may have spent much more than what the house was worth. In an interview with Stellar magazine in February 2018, he said that the bank had valued the property at “much less” than he paid. “I went to get a bank loan the other day and they haven’t valued it the same as I paid for it, which is fine, but annoying because there were five bidders,” he said. He said it was “enough less that it made me annoyed”. “For f**k’s sake … I just think it’s good value and in a few years’ time people are going to be going, ‘Well, f**k, didn’t he do well with it!’ I am playing the long game, all right? That is what I say to my wife, anyway.” In September of 2018, he told his then-co-host Kate Langbroek that he’d “copped so much flak” over the purchase. He said, “It was ridiculous and it’s gone on and on and on. A lot of experts weighed into my purchase … There are articles that have been written all year having a go at me. One article from one mob called Property One or something, they had a dinner party discussion about how I paid too much.” Image credits: Nine

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Dave Hughes sets the record straight over famous Block house purchase

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