John Maher of Inside Property asks “If some young investors can establish portfolios of 5 or more properties by their mid 20′s is the housing affordability crisis in Australia everything it is cracked up to be?” The article suggests that peoples increased expectations are the issue whereas less than a generation ago people knew that you started small and worked your way up. “People have forgotten, or ignore, that the way to get to the finish is to begin at the start.”
I recently had a trip to Sydney to see “War of the Worlds” musical on stage (in the Acer Arena at the Olympic Village) a couple of days ago. This included a walk around Sydney’s historical “brick pit” . In the history of this facility, which produced the bricks to build Sydney’s houses for many years, the following facts are displayed- At that time a new home was £1,600 (pounds) and the average wage was £220 per year. That means that the average home , probably terraced brick, small and with an outside laundry and toilet, was costing nearly 8 times the average wage and only 30% owned their own. The average wage now is around $52,000 pa – 8 times that would be $416,000 and homes now are bigger, with ensuites, media rooms, garages, and air conditioning. So is this really so different? – Martin
Source: Realestate.com.au
ABOUT 1000 people are moving from NSW to Queensland every week to fill jobs and live more cheaply, latest figures show. New population figures released by the Australian Bureau of Statistics (ABS) last week showed 51,266 people left NSW for Queensland in the 12 months to March. At the same time, about 32,000 Queenslanders crossed the border heading south.
Queensland is the fastest growing state in Australia, with more than half its new residents coming from NSW. While NSW’s population grew 1per cent last year to 6.8million, Queensland grew 2.3per cent to 4.1million.
“The cost of living in Sydney continues to become less affordable so there is no better time to look at what opportunities there are right throughout Queensland,” Even though housing prices in Brisbane have gone up markedly in recent years, homes in the northern capital cost, on average, a third less to buy than Sydney. Sydney’s median monthly mortgage repayments last year remained the highest of any of the capital cities at $1800 a month, compared with $1300 a month in Brisbane. Rents are cheaper in Brisbane by an average of $60 a week. The ABS found most foods are cheaper in Brisbane. And a University of Queensland study found the average Sydneysider needs to earn at least 25 to 35per cent more than the average Brisbane resident to enjoy the same standard of living.
Source: Sydney Sun Herald
Queensland’s population growth rate remains higher than the national average and the highest of all Australian states, according to Premier Anna Bligh.
The latest Australian Bureau of Statistics into population growth shows the state’s population has increased by approximately 92,000 people for the year ended 31 March.
“We have the lion’s share of the nation’s 307,100 increase – the highest since record keeping began in 1789,” says Bligh.
Source: QBR
BRISBANE small businesses are the country’s most self-assured, with confidence soaring in the first quarter of the new financial year, according to latest Sensis Business Index.
Business confidence among Brisbane small and medium enterprises now sits at 76 per cent, 14 per cent above the national metropolitan average. The survey also found profitability for Queensland SMEs sits well above the national average, having jumped 20 per cent in the past year.
“In fact, Queensland small businesses have the most bullish sales outlook for the next three months of all states and territories in Australia.”
Source: Sunday Mail
BRISBANE house prices will rise by as much as 40 per cent ahead of a nationwide residential property boom in three years, according to a leading economic forecaster.
But with demand bubbling away due to a continuing shortfall in the construction of new dwellings, an “upswing was coming… as soon as the lid is off the pressure cooker”.
“There’s a housing boom coming, is what I’m really saying,” Dr Gelber told yesterday’s BIS Shrapnel Economic Outlook conference in Brisbane. There were 40,000 new dwelling commencements in Queensland in the year to June 30, against demand of 45,000, according to BIS Shrapnel.
Source: The Courier Mail
Cairns and Townsville are two of Queensland’s highest growth areas, according to an analysis of the 2006 Census which was released today by the state government.
Local Government and Planning Minister Andrew Fraser said Queensland had continued to lead Australia, with unprecedented population growth, particularly in the South-East, regional cities and the resources corridor.
Brisbane, with 19,100 new people every year and the Gold Coast with 16,700, recorded the largest annual average growth of any local government area in the nation from 2001- 2006.
Source: The Courier Mail
Queensland really is the place to live. The Sunshine State is the nation’s fastest growing state, has record low unemployment, a strong economy and, according to the latest Real Estate Institute of Queensland (REIQ) median house prices, a very solid property market.
“Many Queensland regions have experienced double digit median house price growth over the 12 months to end the June this year,” REIQ chairman Peter McGrath said.
According to the 2006 Census, Queensland is still the nation’s fastest growing state. Our population is up 20.2 per cent on the 1996 Census count with about 3.9 million people now choosing to live in the Sunshine State. About 1,500 people continue to migrate to Queensland from interstate every week.
Source: REIQ
HUNDREDS of millions of dollars worth of property changed hands across Queensland last month, with buyers embarking on a bullish spending spree.
Ray White New Farm agent Dan Smith said a three-bedroom house at 12 Beeston St, New Farm, in inner Brisbane, sold for $860,000 – $110,000 above the reserve price.
He said a three-bedroom unit at nearby Newstead Tce, Newstead, sold for $40,000 more than the reserve at $730,000.“I’ve been in real estate for seven years and it’s probably the hottest I’ve seen it since the boom in 2002-2003,” he said.”We are getting multiple offers on properties at once.”
Source: Courier Mail
The Gold Coast Titans Rugby Club have announced a state of the art $500mil training facility at Robina. This will be in the precinct of the new $160mil stadium – Skilled Park – soon to be completed and the 5 story facility will be unrivalled in Australia. The facility should be completed by the end of the 2008 season.
Source: GC BULLETIN
