This artilcle was published by the Gold Coast Bulletin on Sept 20th/21st 2008
21 Sept 2008
State of Play at Week's End
This artilcle was published by the Gold Coast Bulletin on Sept 20th/21st 2008
17 Sept 2008
Analysist says buy Sunland over Raptis!
This artilcle was published by the Gold Coast Bulletin on Sept 17th 2008
Subbies Back on Site At Raptis "Take Over Tower"
This artilcle was published by the Gold Coast Bulletin on Sept 17th 2008
14 Sept 2008
Market Ripe for Buying
Home buyers are being urged to move quickly, with house prices across Queensland defying predictions of big drops and poised to take off again on the back of cuts to interest rates and stamp duty.
Real Estate Institute of Queensland figures for the June quarter, released today, show the industry weathered the effects of interest rate rises and big petrol price increases.
Median prices were steady across most of the state for the three months. Some areas – including the Gold and Sunshine coasts, Townsville and Mackay – registered falls, but Brisbane, Ipswich, Moreton Bay and Redland continued to grow.
A 1 per cent rise in Brisbane took the median price to $495,000 for the quarter, overtaking the Gold Coast which had a 2.4 per cent dip tip $490,000.
“These results fly in the face of some commentators who had predicted doom and gloom and substantial price drops for property markets across the country,” REIQ chairman Peter McGrath said.
“Brisbane particularly, was an extremely pleasant surprise.”
“Considering what the consumer had to go through during that quarter – two interest rate rises and the filtering down of earlier interest increases, massive spiked in petrol prices and general negativity about the economy – the market has shown a lot of resilience.”
“It’s set a very important platform for the market to ease forward late this year as interest rates begin to come down. The message is simple: the market has bottomed in real terms, interest rates have stabilised. So if people have the financial capacity to enter the maker, now is the time to start looking to go forward.”
In the southeast Queensland the median house price for Ipswich was up 1.6 per cent to $320,000, Moreton Bay rose 0.7 per cent to $379,000 Redland was $450,000 (up 0.2 per cent) and the Sunshine Coast dipped 1.2 per cent to $464,500.
Mr McGrath said figures for the current quarter, up to the end of September, would also be flat or marginally lower due to a lag effect, but four “building blocks” were now in place for growth by year-end:
* The Reserve Bank’s decision on Tuesday to reduce the official interest rate by 0.25 per cent – the first cut in seven years.
* Major bank’s passing the cut on immediately to customers.
* The removal of stamp duty on the properties worth up to $500,000 from the start of this month should encourage first home buyers back. The proportion of first-time purchases, usually about to 20 per cent of the total, had slipped to 17 per cent.
* The flattening of prices in the June quarter had given prospective buyers some breathing space.
“They haven’t been chasing their tails with big price increases as they tried to save,” Mr McGrath said.
The continuing mining boom and strong migration, especially from overseas, to Queensland underpinned the ability to escape the big falls that had been feared.
And results for the 12 months to end of June show strong growth, with prices across most of SEQ and major regional centres climbing between 10 and 20 percent, Logan 17.5 per cent, Moreton Bay 15.6 per cent, Gold Coast 13.6 per cent and Sunshine Coast 12.3 per cent.
With superannuation funds reporting their worst losses in two decades and the share market down 25 per cent for the year, Mr McGrath said the rise in house values was impressive. In the past decade, the Queensland median house price has almost tripled from $135,000 to $390,000.
Property analyst Michael Matusik says returns on residential houses have outstripped all other major investment options over 10 years and he predicts property prices will grow 8-10 per cent per annum over the next three years.
Posted by Ascent Property Investment at 9:36 PM
Real Estate Institute of Queensland figures for the June quarter, released today, show the industry weathered the effects of interest rate rises and big petrol price increases.
Median prices were steady across most of the state for the three months. Some areas – including the Gold and Sunshine coasts, Townsville and Mackay – registered falls, but Brisbane, Ipswich, Moreton Bay and Redland continued to grow.
A 1 per cent rise in Brisbane took the median price to $495,000 for the quarter, overtaking the Gold Coast which had a 2.4 per cent dip tip $490,000.
“These results fly in the face of some commentators who had predicted doom and gloom and substantial price drops for property markets across the country,” REIQ chairman Peter McGrath said.
“Brisbane particularly, was an extremely pleasant surprise.”
“Considering what the consumer had to go through during that quarter – two interest rate rises and the filtering down of earlier interest increases, massive spiked in petrol prices and general negativity about the economy – the market has shown a lot of resilience.”
“It’s set a very important platform for the market to ease forward late this year as interest rates begin to come down. The message is simple: the market has bottomed in real terms, interest rates have stabilised. So if people have the financial capacity to enter the maker, now is the time to start looking to go forward.”
In the southeast Queensland the median house price for Ipswich was up 1.6 per cent to $320,000, Moreton Bay rose 0.7 per cent to $379,000 Redland was $450,000 (up 0.2 per cent) and the Sunshine Coast dipped 1.2 per cent to $464,500.
Mr McGrath said figures for the current quarter, up to the end of September, would also be flat or marginally lower due to a lag effect, but four “building blocks” were now in place for growth by year-end:
* The Reserve Bank’s decision on Tuesday to reduce the official interest rate by 0.25 per cent – the first cut in seven years.
* Major bank’s passing the cut on immediately to customers.
* The removal of stamp duty on the properties worth up to $500,000 from the start of this month should encourage first home buyers back. The proportion of first-time purchases, usually about to 20 per cent of the total, had slipped to 17 per cent.
* The flattening of prices in the June quarter had given prospective buyers some breathing space.
“They haven’t been chasing their tails with big price increases as they tried to save,” Mr McGrath said.
The continuing mining boom and strong migration, especially from overseas, to Queensland underpinned the ability to escape the big falls that had been feared.
And results for the 12 months to end of June show strong growth, with prices across most of SEQ and major regional centres climbing between 10 and 20 percent, Logan 17.5 per cent, Moreton Bay 15.6 per cent, Gold Coast 13.6 per cent and Sunshine Coast 12.3 per cent.
With superannuation funds reporting their worst losses in two decades and the share market down 25 per cent for the year, Mr McGrath said the rise in house values was impressive. In the past decade, the Queensland median house price has almost tripled from $135,000 to $390,000.
Property analyst Michael Matusik says returns on residential houses have outstripped all other major investment options over 10 years and he predicts property prices will grow 8-10 per cent per annum over the next three years.
Posted by Ascent Property Investment at 9:36 PM
1 Sept 2008
State Population to hit 8 Million!
The Expanding State
11:52a.m. 1st September 2008
| AAP
Queensland’s population is expected to reach eight million in under 50 years, a new report predicts.
The state’s population will increase from 4.1 million in 2006 to almost six million within 20 years, according to the report titled Population Projections to 2056: Queensland Statistical Divisions.
It will hit the eight million mark by 2056.
Premier Anna Bligh said it was proof the state would remain Australia’s economic powerhouse.
“A decade of solid business growth, record government investment in infrastructure and services, and improvements to productivity mean the state has evolved as a major player on the national and world stage,” Ms Bligh said.
The report, released today, also confirms the state’s population is ageing with the number of older Queenslanders expected to more than double by 2031.
Treasurer Andrew Fraser said Queensland was also in the grips of a baby boom with the number of children projected to increase by 33 per cent to 1.1 million.
“Both of these factors need to be taken into account when planning for the future and the future of our workforce,” Mr Fraser said.
The government has urged local councils to use the data, available from the Queensland Treasury, in their planning.
11:52a.m. 1st September 2008
| AAP
Queensland’s population is expected to reach eight million in under 50 years, a new report predicts.
The state’s population will increase from 4.1 million in 2006 to almost six million within 20 years, according to the report titled Population Projections to 2056: Queensland Statistical Divisions.
It will hit the eight million mark by 2056.
Premier Anna Bligh said it was proof the state would remain Australia’s economic powerhouse.
“A decade of solid business growth, record government investment in infrastructure and services, and improvements to productivity mean the state has evolved as a major player on the national and world stage,” Ms Bligh said.
The report, released today, also confirms the state’s population is ageing with the number of older Queenslanders expected to more than double by 2031.
Treasurer Andrew Fraser said Queensland was also in the grips of a baby boom with the number of children projected to increase by 33 per cent to 1.1 million.
“Both of these factors need to be taken into account when planning for the future and the future of our workforce,” Mr Fraser said.
The government has urged local councils to use the data, available from the Queensland Treasury, in their planning.
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