The October edition of your member benefits update brings you five reasons on why it’s a good time to be a first home buyer right now, we have info on unpaid super (the silent wage theft), there’s some bargains to be had with home and contents insurance, we report on why Health and Safety Reps are crucial in the war on workplace stress and we have a $100 WISH gift card to give away in our monthly competition!
Photo: L-R Our AFL Footy Tipping winner and CPSU member Toby Hunt, CPSU National Organiser, Ella Factor and Andrew Wallace from ME presenting Toby with his winnings last month
A lot is happening in the market to turn a first home buyer’s frown upside down. Here are five trends making it easier for first home owners to get a foot on the property ladder, brought to you by industry super fund-owned bank ME.
1. Housing is more affordable
Home values nationally have dipped 7.6% since the market peaked, giving first home buyers a lot more bang for their buck.
In Sydney for instance, the median apartment price is now $699,000, down from $783,000 two years ago – a saving of $84,000. House prices in Sydney have also fallen over the period but the current median house price of $877,000 (down from $1.05 million two years ago) still puts a house out of reach for many Sydney-based first home buyers. In more affordable Melbourne, a house is still a possibility for first home buyers, especially as today’s median house value is $716,000 compared to $826,000 in October 2017, a price cut of $110,000.
Please note; if you haven’t already registered for the member benefits program, hit the ‘Register‘ button and input your details to access all the exclusive union member deals.
^Flood cover does not include loss or damage caused by highwater, actions of the sea, tidal waves or water entering your home due to structural defects, alterations, additions, renovations or repairs.
This may contain general advice and has been prepared without taking into account your objectives, financial situation or needs. Conditions and Exclusions apply. A Product Disclosure Statement (PDS) is available for this product, and can be requested when you call for a quote, or can be downloaded from the Vero website: www.vero.com.au. You should consider the PDS before deciding whether to buy any of these products. The insurer is AAI Limited ABN 48 005 297 807 AFSL 230859 trading as Vero Insurance.
Industry fund members can have confidence their financial planning files will be subject to the most rigorous risk and compliance assessments, with the launch of new industry-first machine-learning technology to support quality and compliance checking.
This human-assisted machine learning AI platform, called SAMI, will allow Industry Funds Services (IFS) to enhance its already rigorous risk management and compliance processes.
Instead of a traditional, manual compliance review of only a sample of client financial planning files, an automated pre-assessment of up to 100 per cent of files will now be possible. It will vastly improve the quality, consistency, and volume of documents audited, meaning more files can be processed at a faster rate.
Safe work month highlights the importance of safety in the workplace, calling on workers to ‘be a safety champion’ and leaders for work health and safety within their organisation or industry.
The ACTU is highlighting the vital role occupational health and safety (OHS) representatives make in the workplace at a time when four people are dying at work every week and physical and mental injuries are impacting thousands of people every year.
ACTU Assistant Secretary Liam O’Brien said, “Everyone has the right to go to work and come home safely, but increasingly workers are going home with mental health injuries as a result of their work. This isn’t good enough.”
We are pleased to announce the winner of the ACTU/ME NRL Footy Tipping Competition!
The winner of the NRL tipping comp is James Wither, a miner, CFMMEU member and Rabbitohs supporter from Newcastle. James won with a fantastic score of 133 points with a margin of 231 at the end of the NRL home and away season. James received a $1,000 Everyday Transaction Account from ME. Well done, James and hearty congratulations!
A big thank you to all the union member tipsters and also to ME for providing the prize money.
There are some terrific union roles currently listed on the ACTU Job Vacancies web page. A variety of positions are available from Workplace Health and Safety Trainer to Industrial Lawyer, Organiser and lots more.
So if you’re in the market for a great union job see what’s on offer today.
Here we are, dear readers, our last instalment for the year that was 2020! In December's edition we highlight how to show some sparkle at Christmas time on a scaled down budget and there's an excellent deal for union members from our friends at Union Health.