Sun shines on autumn sales

first_imgHe too said the decision to buy or sell should not be dictated by the seasons.“Don’t always be guided by the sunshine as being the best time to buy property,” he said.“Sometimes buying in the depths of winter can be advantageous because there might be less competition for property. “Buy according to your situation and when you have your finances organised and all systems are go that’s when you do it.”Mr White said potential buyers should start by writing a list of all the things they need in a property and then work out if they can find a property that ticks all those boxes.“Market conditions can vary but if you are buying to hold, as we would recommend, it is more important to get the property with the right features, in the right location for you and suits your requirements,” he said.“If you have done all the research and are prepared that is the right time to be buying.’’ 87 Gimba Street, Mitchelton is on the market for $1.895m.When it comes to buying and selling, most people think Spring is the prime time for the property market.And while the number of listings tend to increase along with the temperature, Ray White New Farm agent Christine Rudolph said buyers and sellers should not discount the autumn months.“If you want to sell your home, now is the best time of the year to be on the market,” Ms Rudolph said.“While Spring selling season is the most popular time of year to list for sale, it is actually Autumn when more homes sell.” Troy Cassar-Daley’s ready to let go Queenslander and art collection up for grabs What would you trade for a luxury apartment and yacht? Property ticks boxes for richest female CEO “In my experience I’ve found there are not as many properties listed for sale in Autumn which means there is more competition from buyers for what is on the market.”Ms Rudolph currently has nine listings, two under contract. She said with fewer properties on the market during the cooler months, competition for houses and units could produce record sales.“I’ve already noticed more people turning out to open homes and my expectation is that will increase in the coming weeks,” she said.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago“Unlike the Southern capitals Brisbane values have remained fairly stable in the last year and it still represents good buying compared to prices in Sydney and Melbourne.’’CoreLogic Australia’s head of real estate Geoff White said the decision on when to sell or buy was a personal one, but warned buyers that hanging out for “the bottom of the market” could result in them missing out on their perfect home. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 FOLLOW COURIERMAIL REAL ESTATE ON FACEBOOK MORE REAL ESTATE NEWSlast_img read more

This house made $170,000 in 15 minutes

first_imgThe property is on a double block that could be subdivided.James said the experience was ‘a little’ nerve-racking but he was happy he stuck to his game plan.“I knew that the house was probably worth a bit more than what we could pay,” he said.“We’re going to go and check out one at Kalinga next. It’s open until noon.” The back deck where everyone gathered for the auction.Among them was Marilynn, keeping warm in a puffer vest, who had moved up from Melbourne and had been househunting for six months while renting in Clayfield with her partner.“It’s got that charm, do you know what I mean? It’s got that Queensland charm,” she said afterwards.“We’ve been looking for six months and we just walked in and felt that warmth.” MORE REAL ESTATE STORIES Six registered bidders could also see its potential and made themselves comfortable on the back deck on a drizzly Saturday morning with more than 30 onlookers. Auctioneer and Ray White Albion principal David Treloar coaxed an opening bid of $1 million from a young couple in the crowd, and the six interested parties reduced to three active bidders, who shot off nine bids in the first minute.“Great activity, good bidding,” Mr Treloar encouraged as bidding paused at $1.425 million.“Think about the capital growth.”There would be only four more bids from James and Marilynn before the auction paused at $1.46 million (with Marilynn in front) to seek instruction from the seller, Catherine Martyr.“We were relaxed,” said Ms Martyr, who was in the kitchen with her husband listening to the auction. The ultimate dream home of 2019 >>>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<<<center_img SEE WHAT ELSE IS FOR SALE IN WOOLOOWIN How real estate helped Stranger Things stars This house at 17 Oliver St, Wooloowin sold at auction for $1.475 million.THE largest property to sell in Wooloowin in three years made $170,000 for the owners in 15 minutes.The 119-year-old Queenslander on 830sq m was last sold at auction four years ago for $1.305 million.But at auction in Brisbane on Saturday, it sold under the hammer for $1.475 million.There had been plans to extend 17 Oliver St, in Brisbane’s inner-north, but the owners had instead built a new house in nearby Clayfield and were reluctantly selling. Plenty of warmth from this fireplace in the lounge of 17 Oliver St, Wooloowin.And there was James bidding at his first auction, with a one-month-old baby girl strapped to his front.He had recently moved up from Sydney and was renting in Paddington while he looked for a home for his young family.“We’ve got a buyer’s agent in Sydney. He talked me through how I should go about it,” James said after the auction.“He said when it gets down to two people left, and if you start hitting $1000 increments, go to the next $5000, and if they do another $1000, go to the next $5000.”In this auction, nobody would bid less than $5000.More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours ago From this kitchen, owner Catherine Martyr and her husband could hear the auction on the back deck.“It was in good hands,” her husband Rob said.Ray White Ascot agent Nick Kouparitsas had led the five week campaign, taking the property to auction on one of the quietest auction days of the year, in the middle of school holidays.“We knew it was going to be a popular home. I sold it four years ago, and it was the same back then,” Mr Kouparitsas said afterwards.Behind-the-scenes negotiating upped Marilynn’s bid to $1.475 million and the auctioneer returned to announce the property was on the market.With no further bids, Marilynn Ross became the new owner of 17 Oliver St, Wooloowin and the crowd applauded.“We wouldn’t subdivide it,” Ms Ross said.“It’s grand and we want to keep it grand.“We’ll redo the pool area and lift the house and maybe put a couple of bedrooms in downstairs.”last_img read more

Home auctions ready to get back into the swing of things

first_img Live next door to Thor aka Chris Hemsworth MORE: Inside the home with a built-in skate bowl More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours agoVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Queensland Premier Annastacia Palaszczuk eased restrictions on auctions starting this weekend with 10 people allowed on-site as well as an auctioneer and agent.Auctions and open homes will return to normal in Queensland from July 10, while restricted auctions begin today with 10 interested parties allowed on-site at a time. This will rise to 20 on June 12 and then 100 four weeks later. Real Estate Institute of Queensland chief executive Antonia Mercorella told The Courier-Mail that Queensland Health had confirmed the 10-person limit applied to potential buyers and did not include auctioneers and agents.Ms Mercorella sought clarification from the government after there was confusion over who was included in the 10 person limit. REIQ CEO Antonia Mercorella sought clarification from Queensland Health regarding the auction requirements for this weekend.“We don’t anticipate vendors to be rushing back into them en masse but it’s anticipated this lively method of sale will pick up as restrictions further relax in line with the Queensland government’s current road map guidelines.”Some agents immediately shifted their auctions on-site, including Chris Vote of Raine and Horne Wynnum, who has 16 Besham Parade, Wynnum, going under the hammer at 10am – a large 809sq m level block that developers have been eyeing off.“I’ve moved it on-site. Registered parties get preference and then people who want to watch. Some people can use social distancing from the street if there is going to be that many. I have a couple of parties interested. I believe it will be registered bidders outside on the lawn.” Cricketer Chris Lynn throws in luxury car to sell home Chris Vote from Raine and Horne Wynnum at 16 Besham Parade, Wynnum, with nephew of owner David Marks. The property goes under the hammer at 10am on-site. Picture: Richard WalkerOn-site home auctions kick-off today for the first time in seven weeks after the Palaszczuk government relaxed restrictions on the number of people that can be in groups.Real estate agents have spent the past week adjusting to the new normal after having moved all auctions to online and phone bidding following the introduction of a temporary ban on March 25. Brisbane saw auctions continue through the lockdown period, with bidding via phone and auctions livestreamed.“With a further easing of restrictions set to be introduced in Queensland from midnight Friday, Queensland Health has confirmed that groups of up to 10 people at a time, excluding a real estate agent will be permissible to attend open home inspections this weekend, of course adhering to strict social distancing and hygiene requirements.“This same limit will apply to in-person auctions – a maximum of 10 people, excluding the auctioneer, sales agent and other support staff necessary.”Ms Mercorella said auctions were “an exciting part of the real estate landscape” and she expected sellers to slowly ease back into that part of the market. He said it was good to be back. “It’s exciting to see it come back and to be able to do inspections on site too. I think someone’s going to get a really great buy with this home.”David Marks, whose deceased uncle owned the home, was hoping the semi-lifting of restrictions would help the sale along.The return to auctions was expected to lift sales at the prestige end of the real estate market, where buyers prefer on-site auctions to virtual sales, according to Jason Adcock, principal at Adcock Prestige.“If they’re going to bid on a property, they would rather be on-site,” he said of multimillion-dollar buyers. Mr Adcock had shifted his sales method primarily to expressions of interest during the lockdown period. Jason Adcock of Adcock Prestige said a return to on-site auctions would help the top end of the market.Some agents were not immediately moving on-site, including Ray White Ascot principal Dwight Ferguson, who planned to work with in-room and online auction procedures this weekend, with buyers able to come to the office if preferred.“Whatever we choose to do, it will be compliant with social distancing and hygiene restrictions laid out by the State Government,” he said.He has a post-war, three-bedroom home at 9 Marie St, Hendra, which has had 30 private inspections set for auction at 10am. Co-agent Alexander Sheen said that auction would be held at the Ray White Ascot office on Racecourse Road.“We can have 10 buyers plus agents,” he said. “We have buyers attending in person, and a number of buyers on the phone. It will be at the office at 10am on the terrace.” FOLLOW SOPHIE FOSTER ON FACEBOOKlast_img read more

Cheaper construction costs make now a good time to build, industry says

first_imgTV personality Liz Cantor and husband, Ryan Lysaught, with their children, Kit, 3, and Fin, 1, at the house they are building in Miami on the Gold Coast. Picture: Adam Head.HOME-hunters have been gifted a window of opportunity to build a home for a bargain price, with the coronavirus forcing builders to slash costs as work dries up.A study by MCG Quantity Surveyors has revealed some property owners are benefiting from the most competitive building and renovation environment since the GFC.MCG Quantity Surveyors director Marty Sadlier, who specialises in building cost analysis for property developers, builders and insurance advisory, said he had seen a dramatic fall in builders’ quote figures over the past month.“If you’re planning to sign up a builder, now is the time to do it,” Mr Sadlier said.“You have their attention 100 per cent and they’re not trading your job off against another potential client. “Furthermore, there is no delay in sub-contractors getting quotes back into their builder clients. Where a sub-contractor would need to be chased for a price and hounded, we are seeing quotes coming in in hours or only a day or two.”It comes as the Housing Industry Association (HIA) forecasts a drop in new home building of almost 50 per cent over the next year.“In 2018-19 the industry engaged over 1 million people to commence building almost 200,000 new homes. Next year we expect to start just 112,000 new homes leaving up to 500,000 jobs at risk,” HIA managing director Graham Wolfe said.“The shock to the economy from the halting of overseas migration, the absence of student arrivals and uncertainty over the domestic economy will see the market at a lower point in December 2020, than it was during the 1990’s recession. It will then continue to decline though 2021, even with the return of overseas students and migration.“This shock will reverberate through the residential building industry, up and down the supply chain.”But Mr Sadlier said the easing of restrictions was likely to start to restore confidence in the construction sector, and recommended moving fast in order to make substantial savings on building costs. “It’s fair to say that if you had a building contract priced and quoted 12-months ago and then had that same contract priced today, the 2020 amount to build would be much less,” he said.“We are working with builders now where we simply can’t get to their costs under the usual analysis. For example, we have a builder constructing a residential unit development for $2.5 million, and our QS assessment says it should be $2.8 million.”The question of whether to build or buy a home was one television personality Liz Cantor and her husband, Ryan Lysaught, considered for a long time.After months of attending open homes and being outbid, the pair, who have two sons, Kit and Fin, decided to build a new home in Miami to accommodate their family.The popular Channel 7 presenter took the extraordinary step of dropping flyers in letterboxes to find the perfect block to build on.“I actually said to Ryan we need to be more proactive and drop letters in every home in the areas we like that looks like a potential knockdown house and see if we can get lucky,” Ms Cantor said.“We dropped letters all through Palm Beach and Miami.”Not long after they got a call from a homeowner in Miami.“Ryan made an offer on the house before I had even seen the place which was a strange feeling,” she said.“But we knew we were buying for the area rather than the home.”The pair paid $670,000 for their beachside block at Miami.The existing house was bulldozed and construction of the new five-bedroom, two-storey Metricon home began in mid-January.It will be ready to move into in June, despite delays as a result of bushfires, floods and COVID-19.“To be very straight, it was far cheaper than any house we could find for sale,” Ms Cantor said. “And it gave us the ability to custom design to our needs and a young family. “We chose a freedom home that was four bedrooms, but changed the media room to a fifth bedroom, and added a door to our downstairs shower, so that I can walk the kids from the beach straight in!”Ms Cantor said waiting for council approvals as well as paying both rent and a mortgage was the most stressful part about building, but overall it had been a positive experience.“I’d built the new-process up in my mind to be so complicated, but you learn along the way, and it’s actually far less overwhelming then I imagined it to be,” she said. “It’s a special feeling to be able to fit out a home space for your needs.”But not everyone likes the idea of building a home from scratch.More developers are starting to cater for a growing market of homebuyers who want to buy a new home, ready to move into, without having to lift a finger. Stockland has released a range of new three and four-bedroom homes in its Pallara community aimed at first home buyers or downsizers.Starting from $525,000, the low maintenance homes come with appliances, NBN connectivity, airconditioning and ceiling fans.The homes also include exterior features that often come at an extra cost with a typical new build, such as landscaping, fencing, a letterbox, a clothes line and a driveway.Stockland senior development manager David Franklin said the homes were popular among first home buyers because they were covered by the $15,000 first homeowner grant. “We’re providing buyers with an immediate and stress-free entry into a thriving Stockland community,” Mr Franklin said. “No building anguish or wait — simply unpack your furniture and enjoy your brand new home.”More from newsCOVID-19 renovation boom: How much Aussies are spending to give their houses a facelift during the pandemic3 days agoWhizzkid buys almost one property a month during COVID-197 days agoIndustry players say townhouses are also a potentially smart investment given they have so far been less affected by the pandemic than detached houses.Porter Davis Homes says interest in its Haven Townhomes at Newport has been strong despite the uncertainty.Porter Davis property consultant Megan McColl said buying a townhouse off-the-plan meant buyers only needed a 5 or 10 per cent deposit until the completion of the build. “This means first home buyers and investors can buy a townhouse without needing to make repayments for another 12-18 months, which has a lot of appeal as buyers navigate the economic uncertainty of the next few months,” Ms McColl said. Pros ConsThe ability to custom design Takes timeUsually cheaper Council approval process can be challenging BuyingPros ConsCan move in straight away usually Often more expensiveCan be less stressful More competitive environment Building PROS AND CONS OF BUILDING VS BUYING A HOMElast_img read more

Lust for lifestyle drives home price growth in Noosa, Mackay

first_img MACKAY & SURROUNDS GROWTH SUBURBS FOR HOUSES Noosaville 9% Peter and Kim Lloyd with children, Summer, 8, and Cooper, 11, who are selling their home at a time when Noosa house prices are hitting record highs. Photo: Lachie Millard.SERIOUS home buyers in search of a sea change saw Queensland’s coastal regions outperform Brisbane’s housing market over the past year, new research reveal. Noosa has cemented its status as one of the nation’s most sought-after property markets, with its median house price hitting a new record of $800,000 — the highest of any house market in the state, according to the latest quarterly figures from the Real Estate Institute of Queensland.Its apartment market was also the strongest in Queensland in the 12 months to March 31, with the median unit price climbing 8.7 per cent to $625,000. Noosa Heads, overlooking Noosa Sound and the Noosa Spit to Noosa River.Further north, Mackay house prices recorded the strongest growth in the state, the value of vacant land in Townsville jumped a whopping 27 per cent and unit prices made double digit gains. These coastal regions are now bracing for an influx of interstate visitors post-July, with the reopening of the Queensland border set to welcome a rush of southerners in from the cold.Buyers’ agents are also reporting a steady surge in appetite for regional property from young families, relocating workers and retirees looking to optimise their superannuation savings.“For those who seek a sea change or tree change lifestyle, the appeal of some of our nation’s regions is enough to tempt many to opt out of city life and pursue a welcome change,” Real Estate Buyers Agents Association president Cate Bakos said. “For investors who have witnessed some particularly strong regional city capital growth rates, the added bonus of typically stronger rental yields has presented an attractive option for those who favour a more balanced portfolio.” REIQ CEO Antonia Mercorella.REIQ CEO Antonia Mercorella said the Sunshine Coast property market had proven its resilience — continuing to remain one of the prime spots in Australia for investment. “With a local economy that’s remained relatively buoyant, backed by strong population and job growth, along with ample investment in large infrastructure projects, the Sunshine Coast housing market has remained on a steady growth trajectory over the first quarter of 2020,” Ms Mercorella said. “But it’s Noosa’s house market that has clearly seen the biggest gains in the greater region when you consider ‘ushered in a record median price of $800,000 on the back of five-year growth of 44.1 per cent — making it the most expensive housing market in Queensland.” Earlier this month, a Sunshine Beach mansion formerly owned by tennis champ Pat Rafter sold for an eyewatering $17 million. The oceanfront home at 46 Seaview Terrace was most recently owned by Betty’s Burgers founder David Hales, who have relocated to another property in Noosa Sound. Suburb Annual price growth (Source: REIQ) GOLD COAST GROWTH SUBURBS FOR HOUSES In March, a home on the same street was snapped up by Karl and Jasmine Stefanovic for $3.6 million. This house at 46 Seaview Tce, Sunshine Beach, has sold for $17m.And while the exclusive seaside retreat has become a haven for wealthy owner-occupiers, it also remains attractive to investors, with rents continuing to rise.The median weekly rent for a two-bedroom unit in Noosa rose 4.8 per cent in the year to March 31 to $480 and increased 4.2 per cent to $500 for a three-bedroom house.While not quite as impressive, the Gold Coast’s annual median house price rose 1.8 per cent for the year to March 2020 to $636,000. But some suburbs recorded double digit price growth, such as Cooloongatta, which was a standout at 27.2 per cent house price growth. Noosa’s median house price has hit a record $800,000, according to new figures. Photo: Lisa Maree Williams/Getty Images.REIQ Gold Coast zone chair Andrew Henderson said buyer activity was reasonably strong considering listings were low.“They’ve got little choice so they funnel into what’s available, and sellers are looking toward listing in those spring months to avoid the stigma of COVID-19,” Mr Henderson said. “Also in springtime, if the borders open up, it’ll help with interstate migration which has, over the last few years, been a huge part of our owner occupier market both in houses and units.”Mr Henderson sees the Gold Coast’s ‘lifestyle credentials’ attracting new residents who have discovered the joys of remote working since the pandemic. “If there is a silver lining, people can be effectively ‘out of the office’ and live somewhere better for their lifestyle. I think that’s where we might see some big gains toward the end of the year,” he said. An aerial view of the Surfers Paradise skyline on a clear day.The Mackay house market has made a huge comeback since being plagued by soft conditions after the mining boom in the mid-2010s. According to the latest REIQ figures, the median house price in the region — which stretches from secluded islands off the coast through golden sand beaches and into lush sub-tropical rainforests — rose 6.2 per cent in the year to March to $360,000.That’s just shy of its all time record of $387,000, which was achieved five years ago.Industry experts put the resurgence in the market down to a combination of the lowest interest rates on record and a case of ‘FOMO’ among buyers who are aware they missed the bottom of the price cycle and are now making their move. Mackay’s housing market was the strongest in the state in the year to March 31. Photo: Lee Constable.The region’s rental market is also healthy, with vacancies falling even further during the lockdown as FIFO mining workers opted to stay put. Demand for rental properties prior to the pandemic had already pushed up weekly rents and those low rental vacancy rates have, in turn, pushed up sales and kept prices firm. Homes are selling quickly, with the average time on market only 34 days.“If you’re looking for property investment opportunities in Queensland, it certainly pays to look outside of metropolitan areas, where you can still find great parcels of land for sale and high price growth areas with strong rental returns,” Ms Mercorella said.REIQ Mackay zone chair Allison Cunningham said the market had started to reignite again after a pause from the coronavirus pandemic, with more people through open homes and solid offers from buyers for listings. Ms Cunningham said the regional economy had weathered the pandemic well because it was self-sufficient and not reliant on the tourism sector.One of the positive impacts on the market from the pandemic was the removal of so-called “tyre kickers” with almost all inquiries now from genuine purchasers looking to enter the market. Townsville’s housing market continued its steady recovery at the start of the year and is yet to feel any major impact from the coronavirus restrictions. The Strand’s Rockpool opens back up after being closed for maintenance.Unit prices surged 23 per cent over the year to March 31, while the median value of vacant land rose 26.9 per cent to $250,000.“That’s an additional $53,000 in equity, which is usually unheard of,” Ms Mercorella said. “It’s certainly an opportune time to buy your next home or investment property in Townsville.”REIQ Townsville zone chair Ben Kingsberry said when coronavirus hit, most agents were prepared for a complete shutdown of the market and the local economy. “The thing is, that didn’t really happen,” he said. “Sales activity remained at average levels in March and then started to firm in April — far sooner than anyone had predicted.“In fact, sales inquiries had still been coming from interstate buyers during the lockdown because of the region’s affordable property prices, as well as attractive gross rental yields.” The Townsville median house price for the year ending March was $315,000 – one of the most affordable in the state. NOOSA GROWTH SUBURBS FOR HOUSESSuburb Annual price growth Sunshine Beach 22.8%Noosaville 13.6%Black Mountain 13.5%Doonan 9.9%Pomona 7.4%(Source: REIQ)NOOSA GROWTH SUBURBS FOR UNITS/TOWNHOUSESMore from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours agoSuburb Annual price growth (Source: REIQ) Peregian Beach 3.5%center_img TOWNSVILLE & SURROUNDS GROWTH SUBURBS FOR HOUSES Suburb Annual price growth Sunshine Beach 11.5% Suburb Annual price growth (Source: REIQ) Slade Point 22.1%Moranbah 21.5%Blacks Beach 18.4%South Mackay 18.2%Bucasia 11.4%(Source: REIQ) Noosa Heads 6.3%last_img read more

Lockdown sparks renovation surge

first_imgGrace and Sanath Hettiarachchi and their dog Millie at the home they have renovated in Moggill during the pandemic. Picture: Richard Walker.If you used lockdown to fix little things around the home, you are not alone, with a new survey finding almost two in every five homeowners used coronavirus isolation to get stuck into renovations.A new survey found that almost two in every five homeowners used the coronavirus lockdown to renovate their homes or investments, with isolation forcing most into becoming DIY specialists.MORE: Buyers cash in on Brisbane homesThree level extension hides behind historic QueenslanderThis home will have you climbing the walls34 Priors Pocket Road, Moggill, has been listed for sale after undergoing an extensive renovation.The Canstar survey conducted in mid July found that despite widespread job losses and uncertainty impacting livelihoods this year, 38 per cent of Aussies put money into making their properties more comfortable for themselves or more attractive for renters or buyers.Canstar financial services executive Steve Mickenbecker said the results were “a good sign for the economy” because “it says ‘we’re thinking about the future’.”“It’s surprising that 38 per cent of households have actually done renos but when you think about how busy places like Bunnings have been through all shutdown periods and since COVID-19 came to Australia, it shouldn’t be any surprise to be honest.”“People have more time on their hands, there’s no commuting, everyone’s sitting around the house saying that’s still broken, that still needs painting … If you can’t go out and be entertained, better yourself at home with a project.”He said the renovations “improved people’s lifestyles more than property values, but it’s amazing what a lick of paint can do”.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58“The average spend on a renovation during the pandemic was $4,979, while the maximum reached as high as $45,000,” Mr Mickenbecker said.While half paid for the renovations out of savings, one in five put the cost straight onto their credit card, which Mr Mickenbecker said was “a bit of a worry”.“It’s not a problem if they repay it over a few months. We compared repaying over six months, it’s not the end of the earth.”He said a non-rewards card average interest charge of 13.45 per cent ended up costing the same ($239 interest charge) as topping up your home loan to do the renovation (about $295 fee).“Irrespective of what you use in terms of finance for these smaller things you really want to knock it off as fast as you can so it doesn’t end up being a millstone for three or four years.”Brisbane couple Grace and Sanath Hettiarachchi were ready to begin their renovation of 34 Priors Pocket Rd, Moggill, when the pandemic hit.The Hettiarachchi’s property has been listed for sale at $685,000-plus.More from newsCOVID-19 renovation boom: How much Aussies are spending to give their houses a facelift during the pandemic3 days agoWhizzkid buys almost one property a month during COVID-197 days agoThis space was made light and bright through a renovation during lockdown.“We purchased this property in January this year with the hope of settling down however given the current pandemic, our plans have been delayed, and given the success of our previous property in Oxley, we thought we would try our hand at renovating and selling the property furnished,” Mr Hettiarachchi said.They did most of the work themselves and hired tradies for specialist jobs.“We lived in it from January and would work on it tirelessly before and after work and on the weekend. We finished in around June this year.”The kitchen is ready for new owners now.The home is being sold with appliances and furniture.“The house has been renovated mostly inside. It has high ceilings and custom windows to allow the natural light and has beautiful herringbone style recycled wood flooring throughout. All bedrooms got airconditioning and fans, and the kitchen and laundry have had a makeover, adding new high-end appliances with more storage.”The pandemic had changed their approach to life, he said. “We believe the current pandemic has really made some of us realise what matters the most, and that is, being able to be with our loved ones.””With some employers now adapting to this change, living near to the city won’t be as much of a priority as there will be adequate work-from-home options.”Kym Saunders of Plum Property Toowong has listed the property for sale looking for offers over $685,000, which includes appliances and furniture.MORE REAL ESTATE NEWSlast_img read more

Video: The Ocean Cleanup Tests New North Sea Prototype

first_imgDutch foundation The Ocean Cleanup installed the first test segment of the new North Sea prototype, dubbed Boomy McBoomface, on August 29, ahead of the planned deployment of the cleanup system in mid-2018.The new test is being undertaken in the North Sea to verify The Ocean Cleanup’s new and updated design, which changed after the previous North Sea prototype. Namely, the changes included switching the system from being moored to the seabed to being free floating, requiring more stiffness.The new prototype consists of a HDPE solid pipe with a screen connected to it, preventing the plastic from going underneath the floater. The new North Sea tests are aimed at assessing two variations of floater-screen connections as well as the application of antifouling on the screen.The Ocean Cleanup added that the second test will follow soon.“We are committed to getting the Pacific system out as soon as we can, every day that we are there later the problem keeps growing. We want to work at a really high pace, doing a lot of tests and a lot of analyses really quickly and then go out with the system into the Pacific,” Arjen Tjallema, Technology Manager, said.last_img read more

InterMoor Executes Well Abandonment Project for Spirit Energy

first_imgInterMoor, an Acteon company, has recently completed a well abandonment campaign in the North Sea and East Irish Sea for Spirit Energy. Following consolidation of the former OIS Ltd decommissioning personnel into InterMoor, the decommissioning team have added four further wells to the 128 they have abandoned for operators in the North Sea since 1996.The campaign for Spirit Energy comprised three suspended subsea wells and one mudline well all requiring environmental cement barrier placement along with well severance & recovery.Planning and engineering works for the project were fast tracked in late summer 2017 with the vessel mobilised late in October to start the offshore phase of the project. All offshore operations were successfully completed as planned and the vessel was demobilised on the 5th of December. InterMoor utilised the Suspended Well Abandonment Tool (SWAT) and the Low Pressure Packer (LPP) from Claxton Engineering Services, a fellow Acteon sister company to abandon the wells.Mike Kearney, Decommissioning Lead, said: “InterMoor were delighted to be able to assist Spirit Energy in completing the final abandonment of these suspended wells having successfully completed a near identical project for Centrica in 2015 as OIS. We continue to push our capabilities further with each project and despite the wells possessing some challenging technical requirements, we were able to set environmental barriers as deep as 2,800 feet below the mudline using our SWAT wiper plug technology. InterMoor is also celebrating the fact that another project has been completed for a client without a Lost Time Incident (LTI), 2017 being the tenth consecutive year without such an incident.”last_img read more

Deep Green communication system installation gets underway

first_imgThe installation of the communication system for Deep Green tidal plant is currently being performed by Vissim Renewables which secured the contract from Minesto early in 2018.The IT and communication system will be used for communication between the various sites during installation and operation of Minesto’s device, whose deployment will begin this April in Holyhead Deep.Minesto originally selected ITS Technology Group as the supplier of the system, but the partnership with the Group never took off as it was decided early on that Minesto should proceed with another supplier and solution, the Swedish tidal energy developer informed.According to Miensto, Vissim Renewables has already started the installation of the system in the micro-grid buoy, which was supplied by Malin Group.The awarded contract for the company includes the detailed design and construction of the IT & communication system that will require inclusion of offshore and onshore services, system and hardware deliverables to facilitate communication that will initially be conducted through a micro-grid system buoy, the vessels used as part of core offshore operations, and Minesto’s offices in Holyhead.Minesto looks to install its first commercial-scale 500kW Deep Green marine energy converter in a phased process, performed over the course of next two months off the coast of North West Wales.last_img read more

FMC Aims at Carrier Alliances, Consolidation under Amended US Shipping Act

first_imgPresident Trump’s changes to the U.S. Shipping Act would see the Federal Maritime Commission address antitrust issues related to recent consolidation in the maritime industry, according to Holland & Knight partners.Signed into law on December 4, 2018, The Federal Maritime Commission Authorization Act of 2017 marks the first substantive revision to the U.S. Shipping Act since 1998 and provides several of the most significant changes to the Shipping Act since 1984.Namely, the changes are primarily related to antitrust issues regarding a recent wave in maritime industry consolidation and the emergence of ocean carrier alliances.“These changes are expected to help protect marine terminal service providers as well as other U.S. marine equipment and services providers, and to preserve investment in domestic shore-side maritime infrastructure,” Holland & Knight partners said.Enacted in 1916, the Shipping Act confers authority upon the Federal Maritime Commission (FMC) to regulate maritime commerce in the U.S. The Shipping Act regulates common carriers (both non-vessel and vessel operating) and marine terminal operators (MTOs) and affords limited antitrust protections to filed agreements among regulated parties.In 2017, Congress began serious efforts to review and amend the Shipping Act to address these changes to the maritime industry, all of which have affected U.S. infrastructure investment. The legislative efforts represent the first step toward bolstering the U.S. maritime industry.The amendments are a part of the Frank LoBiondo Coast Guard Authorization Act of 2018 (S. 140), which authorizes appropriations for the Coast Guard and for the Federal Maritime Commission through Fiscal Year 2019, reauthorizes the Department of Commerce’s hydrographic services program administered by the National Oceanic and Atmospheric Administration through Fiscal Year 2023, and provides for the establishment of uniform standards for the management of vessel discharge.last_img read more