In this week’s 2 minute property investment news video we discuss a number of highlights including controversial laws that could result in higher body corporate fees in Queensland have been passed by State Parliament.
The new laws determine the actual proportion a unit owner has to contribute towards body corporate. Landlords with smaller units, might have to pay the same as someone with a penthouse.
For example someone with one bedroom instead of the normal two bedroom in the same block might still have to pay the same as the others. However, attorney general Jarrod Bleijie is adamant the changes wont be unfair. It is hard to see but I guess time will tell.
In other news, land values in some mining areas in Queensland are on the increase. Median land values in areas like Cloncurry near Mount Isa and Mount Coolon in Whitsunday have gone through the roof. Western Downs land values also increased. But there were also some drops in the latest state government valuations.
Land values in some Townsville suburbs dropped by around 30 per cent and flooded areas like the Lockyer Valley west of Brisbane were also down this year.
While in another resources area, Darwin, has had price rises. The Real Estate Institute of the Northern Territory says a housing shortage is driving up prices and the cost of purchasing a property is making it very difficult for both home buyers and investors.
The ANZ property research team adds the Northern Territory has the strongest market and economy in the country at the moment, thanks to the Inpex gas project and a strong defence force there. That’s a quick snapshot of what’s making news right now.
Kevin Turner hosts Real Estate Talk – a weekly property investment internet based radio show you can listen to on the go on your smartphone, tablet or computer. Subscribe now by clicking here. It’s free and apart from lots of great information from all of Australia’s leading property experts, you’ll get some great bonuses for subscribing.