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What’s news in property this week – Michael Matusik

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….

news

  • 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.

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Michael is director of independent property advisory Matusik Property Insights. He is independent, perceptive and to the point; has helped over 550 new residential developments come to fruition and writes his insightful Matusik Missive


'What’s news in property this week – Michael Matusik' have 1 comment

  1. Avatar for Property Update

    February 18, 2014 @ 12:34 am Justin Hagen

    Go Ahead!! Brisbane is the better option to buy a proprerty at reasonable prices this year.

    Reply


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