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Our house price surge to top of southeast



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NOOSA reigns supreme in southeast Queensland’s with its world-class beaches and lifestyle helping drive median house price increases above all others.

REIQ CEO Antonia Mercorella said the annual growth for Noosa of 9.6 per cent outstripped the Gold Coast with 7.3 per cent while the Sunshine Coast came in at 6.8 per cent.

“Tourism is one of the largest contributors to Queensland’s gross state product, with almost 8 per cent of GSP coming from tourism,” Ms Mercorella said.

“This is roughly $25billion in the year to June 2016, which means when that sector grows it offers employment opportunities and this attracts workers who need somewhere to live,” she said.

She said the strong performance of the southeast corner’s coastal markets has helped drive Queensland’s growth in the last 12 months, with more than 58,000 houses sold and an annual median price growth of 2.4 per cent.

Ms Mercorella described Noosa price growth “a whopping” result taking it to $655,000 – $100,000 more than the Sunshine Coast.

“These two markets have powered ahead through the past 12 months,” she said.

“These markets are clearly offering buyers exactly what they’re looking for and the REIQ’s prediction is that when the Bruce Highway is improved, to the point where comm- uting to Brisbane becomes more reasonable, we will see demand balloon.”

The REIQ said the unit market has been positive, growing 3.7 per cent on the Sunshine Coast and just 0.4 per cent over the past 12 months for Noosa’s annual unit median price.

“Looking ahead to 2020, house prices in the southeast corner are tipped to rise, with the QBE Australian Housing Outlook report projecting growth for Greater Brisbane of seven per cent, the Gold Coast six per cent and the Sunshine Coast four per cent,” she said.

“This is consistent with the southeast corner’s moderate growth in recent years.

“This level of growth, and these projections, reduce the risk of speculative buying behaviour and this increases the likelihood for continued steady growth.”

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Queensland Construction Companies at ‘High Risk’ of Insolvency



Queensland Construction Companies at ‘High Risk’ of Insolvency
After a difficult 12 months for Queensland-based construction companies, insolvency experts have cautioned that there are tough times ahead.

Despite a steady period of growth and surging infrastructure activity, insolvency group SV Partners’ warned that more than 430 Queensland construction businesses are at high to severe risk of insolvency.

Smaller businesses related to the construction industry are being warned to keep an eye on their capital as activity faces a possible downturn.

The latest data from SV Partners’ Commercial Risk Outlook report said that while the construction industry has experienced steady growth so far in 2018 the benefits may not be shared among smaller construction service businesses.


Construction workers2

Plumbers, electricians, carpenters and residential builders are most at risk of financial collapse in the next 12 months.

SV Partners managing director Terry van der Velde said smaller construction services are more prone to a predicted residential building downturn and the least likely to gain from the rise in commercial activity.

“Industry bodies are forecasting a downturn in residential construction in the coming year, particularly in the apartment market due to oversupply, and there has already been reports of weakening apartment and unit dwelling approvals” van der Velde said.

“Construction companies need to keep a close eye on their cash flow to ensure they have enough capital to weather short to medium term cash flow shortfalls.”

SV Partners report showed 1,967 construction businesses, or three per cent of the industry, were at risk of failure.

It also found that a total of 12,338 businesses, or 2.4 per cent of incorporated Australian businesses across all industries, were at high to severe risk of financial failure over the next 12 months.

Construction site 3

Property is the country’s biggest industry contributing $200.9 billion (13 per cent) of GDP and is the nation’s largest employer with 1.4 million people.

“Construction businesses tend to be very interlinked, so when one business struggles to pay its creditors, it can have significant impacts on contractors in the chain,” van der Velde said

“Contractors in the finishing trades are often the first to be impacted by these struggles, as they are usually the last in the chain and hence the last to be paid, which creates cash flow strain.

Van der Velde says that despite these weaknesses, business can put in place strategies to cope with the changing conditions and make the most of opportunities.

“Implementing robust cash management strategies and well-thought- out capital structures can assist in future proofing a business.”

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Property price growth on Gold and Sunshine coasts outperforming Brisbane, REIQ report finds



Property price growth on Gold and Sunshine coasts outperforming Brisbane, REIQ report finds

PHOTO: Highgate Hill, Milton, Kelvin Grove and West End suffered the biggest sales price declines in the inner-city ring. (ABC News: Isobel Roe)

Several of Brisbane’s more expensive suburbs are among the biggest losers in the property stakes, a Real Estate Institute of Queensland (REIQ) report rating performance in 2017 has found.

The Queensland market monitor showed Highgate Hill, Milton, Kelvin Grove and West End suffered the biggest sales price declines in the inner-city ring, followed by Wilston, New Farm and Taringa.

Highgate Hill in Brisbane’s inner-south suffered a median price plunge of 17.9 per cent year-on-year to $937,500.

Milton’s median price fell 11.4 per cent to $855,000, compared to 2016.

In Kelvin Grove, the median sale price was down 7.9 per cent to $764,750 and West End dropped 6.3 per cent to $1,030,500.

But some Brisbane suburbs enjoyed strong growth.

Teneriffe in the city’s inner-north became Brisbane’s first $2 million suburb in 2017 with a median sale price of $2.4 million — up 30 per cent on 2016.

At the same time, Kangaroo Point and Kalinga joined the $1 million club, with median sale prices soaring 28.4 per cent and 22.5 per cent respectively.

REIQ media manager Felicity Moore said inconsistences in price growth throughout the city could be attributed to “supply issues”.

“When you see a price soften significantly, it could be that there’s an additional level of stock developed, such as house and land packages that meets the level of demand,” Ms Moore said.

Gold Coast skyline
PHOTO: The Gold Coast recorded an overall increase in median sale price of 7.7 per cent. (Supplied: Tourism and Events Queensland)

Beach lifestyle proving attractive

Both the Gold Coast and the Sunshine Coast outperformed Brisbane in terms of house price growth.

The REIQ report showed the Gold Coast recorded an overall increase in median sale price of 7.7 per cent and the Sunshine Coast achieved 5.9 per cent, while Brisbane only managed an average of 2.6 per cent.

Ms Moore said the rediscovery of the beach “lifestyle markets” was somewhat overdue.

“When you look at what those markets have to offer, the Gold Coast and Sunshine Coast are just world class coastal beachfront living at its best,” she said.

“They’re not densely populated, they’ve both got world class beaches, great shopping and good schools and the amenities that go into those communities are of a very high standard.”

She said 2017 results positioned the Gold Coast as the strongest market in Queensland and among the top 10 nationally.

“It’s a similar story with the Sunshine Coast, although for years the level of supply going into that market has been a bit constrained,” she said.

“It’s struggled from a long-time lack of construction of new dwellings and when there’s demand building up it puts pressure on prices.”

Mining downturn impact

The report indicated the mining downturn continued to impact parts of central Queensland.

In Blackwater, the median sale price nosedived 70 per cent to just $36,000 last year, down from $120,000 in 2016.

Five years ago, the average sale price was $450,000.

“It’s a very sad situation but there is good news on the horizon,” Ms Moore said.

“The global body that monitors coal demand is forecasting that from 2022 there’s going to be a global uptick in demand, so in anticipation of that we’re seeing some coal miners pull some smaller mines out of mothballs.

“There’s a level of confidence coming back into the coal sector.”

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The property clock strikes big for hot spot areas



The property clock strikes big for hot spot areas

9 Lion St, Ipswich. Picture:

DESPITE last month’s previous lacklustre values, analyst Michael Matusik has identified the areas on the upswing.

While property values remained fairly stagnant during February, property analyst Michael Matusik has revealed where the housing market is on the upswing.

Mr Matusik’s latest property clock for houses, has Brisbane, Gold Coast, Logan, Redlands, Sunshine Coast and Gympie all in upswing.

He said a market’s position on the property clock was based on the strength and direction of key indicators including sales numbers, price and rent, demand and how much new supply there was.

His latest Matusik Missive also listed Ipswich, the Fraser Coast and Noosa markets as heading into upswing territory.

Ipswich has many beautiful homes, often at prices well below what something similar would cost in Brisbane’s suburbs. A four-bedroom home at 9 Lion St,Ipswich is listed for $879,000.

The land the home sits on was bought in 1904 from the family of the then Ipswich Mayor Mr Pettigrew. A home was built on it in 1907.

The period home has 3.5m high ceilings, VJ walls, period window, and timber floorboards which have all been restored.

REAL ESTATE: 9 Lion St, Ipswich. Picture:

REAL ESTATE: 9 Lion St, Ipswich. Picture:

The home has two new bathrooms, a large separate dining area and study. It is listed through Steve Athanates of NGU Real Estate Ipswich.

On the Gold Coast at Robina, 196 Easthill Drive is listed for more than $850,000.

The three-bedroom home is within the Glades Golf Community.

It has formal and informal living and dining areas, and an outdoor entertainment area with a swimming pool nearby.

196 Easthill Drive, Robina. Picture:

196 Easthill Drive, Robina. Picture:

It is listed through Ian and Linda Mills of McGrath – Palm Beach.

On the Sunshine Coast at Noosaville a home at 15 Bluebell Court is listed for offers of more than $740,000.

The three-bedroom home is in a cul-de-sac in a residential pocket bordered by the Lake Doonella Reserve.

The single-level home has open plan living and dining areas. An outdoor area overlooks the pool and reserve at the rear of the property.

15 Bluebell Court, Noosaville. Picture:

15 Bluebell Court, Noosaville. Picture:

The property has a double lockup garage, plus on-site side parking for a boat or caravan, on the 975sq m block.

It is listed through Tansy Grant and Justin Sykes of Ray White – Noosa.

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