Three property entrepreneurs, backed by Westpac Funds Management, are planning to revolutionise Australian housing investment, with what could become a $1 billion network of inner and middle-ring city apartment communities across the country. The three have formed a residential development and management group, weLive. Their objective is to put rental stock on the market which is city-centred, high-quality accommodation, offering value-add facilities and services with an initial lease term of up to three years. The properties will not target low-income housing. Instead they will be aimed squarely at 25 to 35 year olds, and those over 55, who want to live close to work and the city but want to invest in other assets besides expensive inner-city housing.
Hi Catalina Purchasers,
Well it’s been an exciting year @ mrd this year as we have seen many clients begin on their journey to wealth through property or add to their portfolio another “windmill” ready and in place for when the wind blows. For those of us that have staked our claim on the Gold Coast – the fastest growing city in Australia, the winds have already begun to blow.
There is a staggering $66 billion of new development happening on the Gold Coast at the moment with $1.3 billion happening in Coomera. PRD spokeswoman Lynda Campbell has said the Gold Coast needs about 133 new dwellings per week to satisfy the demand created by the massive population boom. “That number is expected to be sustained each year in line with the Coast’s forecast population boom, however land supply on the Coast’s seaside villages is rapidly drying up” she said “the future lies in finding land in the Coast’s outer reaches or through the creation of medium and high density building’s on the coastal strip. The areas that will benefit in the future are those with available pockets of land and that is the northern corridor of the Gold Coast, such as Coomera where we are already seeing a population boom,”
2008 is set to be another exciting year in the property market, so we are looking forward to seeing the reality of “ROYE” begin to take shape in yours and our lives. (Nick and I have purchased in Cairns and have set some windmills in place in various other locations)
Catalina Park is now in the titles office awaiting registration; which could happen as early as today. Please note that you could be asked to settle as early as 14 days after registration of titles, regardless of public holidays, solicitors’ offices being closed and so on. We are not saying that this will happen… but it is imperative that you speak with your broker/lender and ask that they are on top of mortgage documentation preparation etc. Unfortunately, even if settlement is held up because your lender was not ready to effect the settlement, under the terms of the contract you can still be charged penalty interest.
In a perfect world, titles will issue on the 7th January, settlements on the 21st (great time for tenants!) and the banks, solicitors and so on will all be on time and ready. Please be prepared for something happening sooner, however.
We and all the team @ mrd wish you a wonderful Christmas full of family, laughter and fun times and a very prosperous new year.
Hi City Park Purchasers,
Well it’s been an exciting year @ mrd this year as we have seen many clients begin on their journey to wealth through property or add to their portfolio another “windmill” ready and in place for when the wind blows. For those of us that have staked our claim in Cairns, the winds have already begun to blow. This year has seen the median average growth for units and townhouses in Cairns increase by 16%.
Hello Clifton Waters Purchasers,
Well it’s been an exciting year @ mrd this year as we have seen many clients begin on their journey to wealth through property or add to their portfolio another “windmill” ready and in place for when the wind blows. For those of us that have staked our claim in Cairns, the winds have already begun to blow. This year has seen the median average growth for units and townhouses in Cairns increase by 16%, and as a result, prices for purchasing Clifton Views (across the road from Clifton Waters) were lifted by $20,000 in October… and the first bricks had only just hit the ground!
Hello Clifton Views Purchasers,
Well it’s been an exciting year @ mrd this year as we have seen many clients begin on their journey to wealth through property or add to their portfolio another “windmill” ready and in place for when the wind blows. For those of us that have staked our claim in Cairns, the winds have already begun to blow. This year has seen the median average growth for units and townhouses in Cairns increase by 16%, and as a result, prices for purchasing Clifton Views were lifted by $20,000 in October… and the first bricks had only just hit the ground!
In the 1st half of last year I said that by the end of 2006 our market would begin to take off and the West Australian market would ‘come off the boil’.
I don’t think anybody would argue that 2007 has seen the East Coast property market begin to soar while property in the the West has levelled off. When it comes to investing for your future, you will have to contend with the many competing voices and conflicting opinions. But it’s not that hard to ‘block out’ those voices and opinions when you understand that:
RESIDENTIAL real estate (unlike any other form of investment) is dominated by home owners (i.e. not investors) and everybody has to have a roof over their head.
Tenants are set to face skyrocketing rents over the next three years, keeping the pressure on inflation and interest rates, as the number of new homes being built continues to fall well short of demand. Official figures show that in the September quarter, work started on 37,647 homes, 1.3% more than in the June quarter but down 0.8% from the same period last year. The result has highlighted concerns that the rate at which homes are being built is falling well short of the demand generated by population growth, intensifying the pressure on an already very tight rental market and opening the way for rents to accelerate above 6% annually.
Source: ITP – Matusik, The Australian Financial Review, Page 5, 18 December 2007
“In a nutshell, affluent areas are showing strong demand for properties as consumers in these areas are yet to reach their borrowing capacity,”RP Data said. “In contrast, affordability problems and mortgage stress are hurting the outer fringe, where many of the buyers who would typically buy into these suburbs are at their borrowing limit or beyond their borrowing capacity.”RP Data said in areas where land was most affordable -Logan and northern Beaudesert -prices had kept parity with the inner suburbs.
Source: ITP – Matusik, The Courier-Mail, Page 15, 14 December 2007
Foreign buyers are spending more on residential property on the Gold Coast than anywhere else in Queensland, according to research conducted by Lynda Campbellof Colliers International.Compiled by Colliers’ Gold Coast office, the report indicates that of the $547.7 million spent in Queensland by foreigners in the last financial year, the Gold Coast represented $269.2 million, or 49% of the total. Brisbane City followed in second place, receiving $111.8 million,while Cairns replaced Noosa for third place.
Source: ITP – Matusik Report, www.apr.com.au, 17 December 2007
Tenants are set to face skyrocketing rents over the next three years, keeping the pressure on inflation and interest rates, as the number of new homes being built continues to fall well short of demand. Official figures show that in the September quarter, work started on 37,647 homes, 1.3% more than in the June quarter but down 0.8% from the same period last year. The result has highlighted concerns that the rate at which homes are being built is falling well short of the demand generated by population growth, intensifying the pressure on an already very tight rental market and opening the way for rents to accelerate above 6% annually.
Source: ITP – Matusik Report, The Australian Financial Review, Page 5, 18 December 2007
Next Page »
