If you’re interested in property there’s some good pickings this week for Queensland and the especially Brisbane real estate markets.
Promising indeed. Read on….
- Brisbane house prices are set to rise this year – and potentially sharper than the national forecast of 4%, according to the Fitch Ratings Global Housing and Market Outlook. And check out the oh-so-affordable Brisbane & Adelaide house-price-to-gross-income ratios of 6.5 versus Sydney 9.9 and Melbourne 9.1. Remember, these are not our calculations!
- The Brisbane rental market should remain tight at around 2-3% for the first part of the year – resulting in increased competition for rental properties amongst the annual surge of university students, soon to hit the city.
- Sydney now boasts 163 suburbs with a seven-figure median house price. Another 43 suburbs were added last year, a jump of 34% in just one year. Twenty years ago, only a handful of suburbs had a majority of sales above a million, starting with Point Piper and Vaucluse.
- Queensland has been rated the best state for business investment. And there’s more…Commsec’s State of the States report also rated Queensland equal third (with ACT) overall (WA in top spot); plus third for retail trade and construction work. The Sunshine State also got a mention for a pick-up in housing finance last quarter – economic growth was up 18.5%. [sam id=37 codes=’true’]
- The Chinese are coming – billionaires, that is….agents are reporting huge activity in Australia’s prestige home market – we’re talking $53m & $32m in Sydney’s Point Piper, $12m in Melbourne and so on – by wealthy Chinese – many buying local mansions with a view to migrating to Australia; and as a base for children attending university.
- Gold Coast 2013 house values rose 2.2%; units fell 0.1%. RP Data estimate house values are 14.1% lower than their previous peak; units 16.4% lower.
- China’s economy grew at its slowest pace in 14 years in 2013 – GDP was up 7.7%, better than the targeted 7.5%. What’s it to us? China is one of our most important commodity buyers, with demand often driving the Qld coal industry.
- That’s what holidays are for – reading a good book! The SMH found 19% of its readers didn’t pick one up over the summer holiday; while 26% read 4 or more – proud of you! 16% read 1 book; 24% read 2 and 15% read 3. I read several too – and Stephen King & Jo Nebso novels count!
- Jupiters Townsville casino has just sold for $70 million. Purchased by Computershare founder Chris Morris, the price tag equates to 10 times the casino’s earnings before interest, tax, depreciation and amortisation for the 2013 financial year.
- Go Aussie – Australia ranked 13th in an index compiled by Bloomberg of the most innovative countries, measured by research & Development, tertiary activity, patents & manufacturing. South Korea was first, then Sweden & the United States.
- Warning – don’t drink and swim. 47 people have drowned across Australia this summer – mostly men engaged in water sports like canoeing, surfing, fishing etc. Swimmers have been urged to avoid alcohol.
- Noosa Heads median house price in November was $717,500 – compared to the overall median price on the Sunshine Coast of $455,000.
- Interest rate rises are now a real possibility this year. Inflationary pressures & weak employment figures are causing analysts to rethink interest rate forecasts.
WHAT’S NEWS: Our wrap of current property headlines.