Your money | Economic, Markets & Financial industry

Two bedroom unit fetches 19m at fiercely battled manly auction




A TWO bedroom waterfront unit in Manly was picked up for close to $2 million at a fiercely battled auction today.

The apartment at 10/12 Cove Ave was picked up for $1.9 million by a downsizing couple.

There were nine registered bidders- a mix of both downsizes and investors.

Selling agent Sandro Petrini, of Belle Property Manly, said Christmas rush had helped drive up the competition.

People know if they dont buy now there wont be any new stock coming on the market until February, so it was quite competitive, Mr Petrini said.

Even though this is in the higher price range, it attracted investor as well as owner occupier interest because Manly give good returns.

A luxury unit, the property features 110sq m of space, 180 degree harbour panorama views and three stacker glass sliding doors opening up on to he balcony.

The property had last sold for just $133,000 in 1982 according to CoreLogic property records.

United kingdoms 5 note is so much more awesome than australias




THE value of the British pound sterling may have been dropping in recent weeks, but imaginative Brits have found a way to put cash to work: It turns out the new plastic five-pound-note can be used as a stylus to play vinyl records.

A number of YouTube videos have been posted in recent days showing the new note playing music on a turntable, though it must be said the fidelity does not match sound produced by expensive equipment.

The plastic note is illustrated with images of Queen Elizabeth II and Winston Churchill. It was introduced last month to generally favourable reviews.

The note is worth just over $6 at Wednesdays rate. The pound has been dropping largely because of concerns about Britain leaving the European Union.

Last month, the Reserve Bank of Australia unveiled its own fancy new $5 note, the product of a determined campaign by blind teenager Connor McLeod.

The notes tactile markings, which make it easily recognisable by the vision impaired, are not its only distinguishing feature.

While its not necessarily a music maker, its security measures are a step above Britains.

Our new $5 note is bisected by a world-first, clear top-to-bottom window thats designed to make it harder to copy.

The new banknotes are the culmination of many years of research and trial and extensive consultation with subject-matter experts and the cash-handling industry, as well as qualitative research involving focus groups, RBA Governor, Glenn Stevens said.

The new $5 banknote has a range of security features that have not previously been used on an Australian banknote and that will help to keep our banknotes secure against counterfeiting into the future.