Chair Rob Soros opened the meeting with a toast to Rotary International. President Neville Taylor commenced with a warm welcomed to the guest speaker Geoff White from CoreLogic Australia. He thanked Bernie and Marjorie for circulating the notice of the passing away of April Ackerley, wife of Honorary member Cec Ackerley. Cec was a key member of our Rotary Club in the early years. President Neville was pleased to announce that the raffle for the morning included produce from Thankyou and Bills Jams. The weekly raffle enables the club to provide ongoing support to the important work of social enterprises. Guest Speaker – Geoff White, Head of Real Estate for CoreLogic Australia Chair Rob Soros introduced the guest speaker Geoff White, who is Head of Real Estate for CoreLogic Australia. CoreLogic is a large worldwide Independent Property Data and Analytics company, which also involved in mortgage and lending. Geoff gave a highly detailed and interesting presentation on State of the Real Estate Market with emphasis on the last year and what the property market has done, what has been the main contributing factors to the shift in the market and how the market may perform during 2019. Some of the key points he made were: Residential Real Estate is worth $6.2 trillion and significantly underpins Australia’s Wealth. It is worth more than either superannuation or stocks. In the last 12 months the market has contracted, however there are other statistics that are still important to keep in mind. For example, over the last 20 years dwelling values have increased 274%. Dwelling values in Melbourne have fallen by 4.1% over the three months to February 2019 and they are 9.1% lower than the 12 months to February 2019. All of Melbourne sub regions have seen a material weakling in market conditions with the greatest change in Melbourne’s Inner East and Inner west. Premium dwelling values continue to record much larger values falls than those of more affordable housing. While previous housing cycles have generally been dictated by changes in interest rates, the current slow has been heavily influenced by changes in credit availability. Geoff also believes there is also a naturally quieting after a buoyant period. Auctions only traditionally represent 20-25% of what is sold on the market. However the clearance rate is still a really good indicator of what is happening in the market. Clearance rates have just begun to increase from a multiyear low. Geoff sees a light at the end of the tunnel with the current downturn, with there being signals of an increase in the number of buyers. However one big factor that will affect the market this year is the upcoming Federal election. Geoff responded to some questions from members, and kindly invited members to contact him with any questions. The presentation slide pack will be made available to members through the weekly bulletin, and includes Geoff’s contact details, and a disclaimer on the information provided.
Announcements Rob Hines advised that the club has been working with two other clubs, in India and America, to be able to raise a global grant of $62,000. This has now been approved, and Central Melbourne will be contributing $8400. More information on the project, which is based in India, will be distributed shortly, including details of an upcoming Indian themed fundraiser at Peter Duras’s house, on the evening of May 4th. Mary Voice encouraged members to register for the social golf afternoon, being held on the last evening of daylight saving for the year – the Friday 29th March. Registrations for the event are made using Trybooking. Family and friend are very welcome and there will also be fun golfing activities other than the main round of golf. Three clubs are involved in the event (Central Melbourne, Fitzroy and Hawthorn) and the surplus will be donated to End Trachoma. Peter Duras accounted: There has been a terrific response to the request for toys to support the Remand Centre. The drive will run for one more week, and people are also welcome to bring toys to the upcoming Peninsula Family BBQ on 17th March. The recent sausage sizzle achieved a great result of $1,502, which will be requested to support Rob Hines’ aforementioned global grant project in India.
Rob Soros advised of an upcoming members event on 25th March, a talk on ‘the future of work – people, purpose and the impact of purpose on purpose driven businesses’. More details to come. Des Benjamin provided a verbal report to the meeting on a rotary peace seminar that he had attended in November. The seminar was on peace, and examining whether peace could be Rotary International’s next main focus, given that PolioPlus is almost at the conclusion of meeting it’s objective. Des raised the question for members to think about: what does peace mean to our club and how would be want our club to respond to such a focus? Des also provided an excellent quote to reflect on: “The way to war is a well paved highway, the way to peace is a wilderness”, President Neville’s Announcements: President Neville expressed appreciation and thanked Des for his involvement in the Peace seminar, and the always excellent and valuable reports he provides to club members after attending such events. President Neville advised that he had recently attended Rotary’s International Women’s Day breakfast along with eight other members from the club. The Batman cluster President’s meeting was held recently. Dale Hoy has been nominated as the District 9800 District Governor in 2021-2022. . Next week's meeting is the special Diversity Week breakfast, with Emma Gee as the inspirational speaker. This meeting is NOT at the RACV Club, but at the Angliss Restaurant, 550 Little Lonsdale Street, Melbourne. Jump on Try booking to register: http://www.trybooking.com/BARQE
President Neville encouraged members to reflect on the many activities of Rotary and others, and find what can be an inspiration to yourself, and to others. Coffee and fellowship continued after the meeting in the downstairs foyer. |