Owner occupiers helping QLD ride out market turbulence

first_imgThe development at 63-69 Dickenson Street, Carina, is four to six weeks away from completion.He said it was “a challenging and tougher market at the moment than prior to August 2016” with market demand expected to remain the same the next 12 to 24 months.“As construction finance is becoming harder to obtain from Australia’s big banks we can foresee many developers looking to use second tier lenders for finance or form syndicates to finance projects. Michael and Chris Papa of Scotmore who are among those who have helped seen a surge in owner occupiers underpinning property development.OWNER occupiers have reclaimed their title as the mainstay of the Queensland residential construction market, fuelling demand for hundreds of builders across the suburbs. Latest Australian Bureau of Statistics data showed Queensland had the highest growth rate in approvals for private sector houses (1.6 per cent) though apartment approval growth was in negative territory (-11.5 per cent). The number of houses approved for construction in Queensland in April (2269) was the highest trend result achieved in a decade for the Sunshine State, while non-house approvals were at 1523, a farcry from its 2015 monthly peak of 2409 achieved two years ago.Chris and Michael Papa of Scotmore were among builders riding the multi-unit trend, producing almost 70 individual apartments and townhouses in the past four years. Scotmore’s latest development at 63-69 Dickenson Street, Carina, is 75 per cent sold, with each buyer an owner-occupier.“Owner occupiers have been our largest increasing buyer demographic in the past few years,” Chris Papa told The Courier-Mail. “In previous years approximately 80 per cent of our buyers were owner occupiers and 20 per cent were investors but in recent years the buyer ratio has increased to approximately 98 per cent of owner occupiers and 2 per cent are investors.” Beach shack sells for record $11.2m Huge drop in Brisbane land prices Where to buy for under $500,000 Every buyer so far in their current 29 apartment project at 63-69 Dickenson St Carina — which was 75 per cent sold — was an owner-occupier, he said, with the remaining 25 per cent expected to also go the same way.More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours ago“Obtaining finance for the construction of a project in recent years has been one of the biggest changes for all developers,” he said, with all lending institutions requiring pre-sales from developers before approval was granted. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 7:28Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -7:28 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenPrestige property with Liz Tilley07:29 The brothers focus on high quality finishes which are especially important to the owner-occupier market.“The success of the developer to acquire finance will determine whether construction will begin but it will be interest percentage charged by the financier and the management of the project which will determine the viability and profitability of the development.”Managing that level of risk and exposure in the volatile conditions was important, he said.Scotmore’s latest project at 63—69 Dickenson St Carina was now four to six weeks away from completion, he said, with a mix of two and three bedrooms apartments with single and double lock up garages still available priced from $535,000. FOLLOW SOPHIE FOSTER ON FACEBOOK last_img read more

Qld cricketer Chris Lynn leases inner north Brisbane home

first_imgThis house at 54 Fifth Ave, Kedron, has just been leased. Picture: CoreLogic. The kitchen in the house at 54 Fifth Ave, Kedron. Picture: CoreLogic.Records show Lynn paid $842,000 for the property in 2014.It’s nowhere as swanky as the six-bedroom, five-bathroom home he actually lives in a few suburbs away in Windsor.That property set him back $1.7 million in January last year. Inside the house at 54 Fifth Ave, Kedron. Picture: CoreLogic.More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoThe house, which was built in 1930, hasn’t been renovated, but sits on a huge 810 sqm block of land in one of Kedron’s best streets — perfect for a hit of backyard cricket.It’s also walking distance to public transport and bike paths, and accessible to the M3 and M7 tunnels. The backyard of the house at 54 Fifth Ave, Kedron. Picture: CoreLogic. Australian cricketer Chris Lynn. Picture: Phil Hillyard.PROFESSIONAL Australian cricketer Chris Lynn has rented out his investment property in Kedron.The large, three-bedroom Queenslander at 54 Fifth Avenue was listed for lease earlier this month for $400 a week and was snapped up in a matter of days. The Windsor home owned by cricketer Chris Lynn. The Windsor home owned by cricketer Chris Lynn.Brisbane born and raised, Lynn is a batsman for the Queensland Bulls, and also plays for the Brisbane Heat in the Big Bash League.The 28-year-old made his One Day International debut for Australia against Pakistan in 2017.last_img read more

$11m mansion is nation’s hottest home

first_img50 Dauphin Terrace, Highgate Hill, with the Brisbane CBD in the background.An $11m waterfront mansion — at a site where General Douglas MacArthur once led the Pacific campaign — is the hottest house in the country after going viral.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:49Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:49 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenThe Great Gatsby Mansion03:50The trophy home sits on the hillside overlooking the Brisbane River just 2.5 kilometres from the CBD and was the most viewed residential listing in the country in the past week.Figures show the home at 50 Dauphin Terrace, Highgate Hill,beat every other property currently listed on realestate.com.au including a stunning three house property with Airbnb income in Noosa and a luxurious trophy apartment just off Hyde Park in the Sydney CBD.50 Dauphin Terrace, Highgate Hill, is one of the most stunning homes on the market.One of its carports has a car inspection pit for those who like to tinker with vehicles.MORE: Tudor estate a subdivision-in-waitingThe suburbs where millionaires are being madeFirst home buyers set to surgeAgent Emil Juresic of NGU Real Estate said if any property was going to excite people, it was this one.“I was expecting for this property to gain a lot of attention. We think this is one of the icons in Brisbane, it’s an amazing home, so close to the city, with close to 4000sq m at a price of $11m.He said they “created marketing good enough that will be loud enough” for a home like that, but there was no taking away from the fact that it was simply a stunning home.The home also has a multiple storey turret.The home is just over 20 years old.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoGreat spot for summer, though the pool is heated by gas for winter swims as well.“It had 55,000 views online in the first 24 hours of launching the property. On Facebook, it’s had 1,100 likes and 1,600 comments. Our video is already 86,670 views in one week. It’s gone viral absolutely.”Mr Juresic said the expectation was that a home like that would see “quite high” interest levels.“We’ve already had private inspections, and will continue having by appointment. A home like this suits that rather than open homes. We are in discussions with a few interested parties.”A home office with views on all sides.The staircase is definitely a statement piece.The property has two-street frontage, two self-contained guest quarters, 60m river frontage, a pontoon for a 60m vessel, seven bedrooms, four bathrooms, parking for five cars, a car inspection pit in a separate two-car carport, a chairlift from the lower level to the ground level, a 23m gas-heated pool, four separate decks, an electronic boat lift, boathouse, two workshops, a mancave and provision for a 2000-bottle wine cellar.FOLLOW SOPHIE FOSTER ON FACEBOOKModern touches across multiple living rooms.Guests won’t want to leave with this type of space on offer.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58last_img read more

Suburb of extremes pulls buyers of all budgets

first_imgThe renovated house is on an elevated block and backs on to bushland. “I had initially thought it would be a young couple who bought it but in the end we found the right buyers,” Chris Foenander of NGU Real Estate Southwest said.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019“I had one buyer who missed out on the sale, she knocked on the door of the seller offering to pay directly to buy the property.”Fifty-five people viewed the property with multiple parties interested in the serene bushland location on a hill.“It’s good to send a positive message to the market,” he said.“The majority of people interested in this property were first home buyers, but they were most interested in the $500,000-$600,000 price bracket, we were chasing premium dollar.” SEE WHAT ELSE IS FOR SALE IN SINNAMON PARK Property prices in Sinnamon Park reflect the quality of housing stock, with the first three months of 2019 seeing sales ranging from $558,000 to $1.34m.“It was a price in line with what the sellers needed,” Mr Foenander said.“They are off to build their dream home on the coast.” A beautiful view and 800sq m of land in the Centenary suburb of Sinnamon Park has attracted broad interest.DOWNSIZERS from Brookfield were the surprise buyers of 89 Dove Tree Court, Sinnamon Park, paying $800,000 for the four-bedroom renovated brick house. >>>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<<<last_img read more

Townsville braces for a flood of tenancy tips

first_imgHouses inundated with flood waters are seen in Townsville, North Queensland, Tuesday, February 5, 2019. The RTA will be hosting a series of tenancy information events for tenants, landlords and property managers.THE Residential Tenancies Authority (RTA) is touching down in Townsville this month to host a series of tenancy information events for tenants, landlords and property managers. RTA chief executive officer Jennifer Smith said the Townsville renting community was still recovering following the severe flooding event that devastated the region earlier this year. Slice of history offers endless opportunity READ MORE Flood damage at houses in Aquatic Court at Idalia, Townsville. Photo Lachie Millard“We know North Queenslanders have been doing it tough this year, particularly after the floods severely impacted the housing and rental market,” said Ms Smith. “The RTA is committed to giving the community the assistance and resources they need to support their renting experience, and to ensure people are doing the right thing. “That’s why we are delivering a series of free, targeted tenancy events for tenants, landlords and agents in Townsville on 26 and 27 August.” READ MORE Timeless charmer with unbelievable views Buyer activity ramps up with less stock on the market More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Ms Smith said the RTA’s Townsville event series includes a free tenant information session and sausage sizzle at Upper Ross Community Centre on Monday 26 August. “This free drop-in session and sausage sizzle is for anyone who is currently renting, or planning to rent in the near future and wants to access helpful information from tenancy experts,” said Ms Smith. “The RTA is working closely with Community Gro, Tenants Queensland, RentConnect, and Tenancy Skills Institute to deliver this free event for tenants. “If you have a burning tenancy question you want answered, then this session is for you.” The RTA will also host a free education seminar for property managers/agents on Tuesday 27 August from 10am to 11.30am, followed by a second free session for landlords between 6pm and 7.30pm. RTA Townsville event series • FREE tenancy information session and sausage sizzle, 11am-3pm Monday 26 August, Upper Ross Community Centre, 1/43 Allambie Lane, Rasmussen. No registrations required. • FREE seminar for property managers, 10am-11.30am Tuesday 27 August, Mercure Hotel. Registrations required — register now • FREE seminar for landlords/self managing lessors, 6pm-7.30pm Tuesday 27 August.last_img read more

MacArtney Winches Hornsea Project One Contract

first_imgMacArtney has won a contract to deliver electrical cable winches which will pull array cables and export cables from the seabed onto the substation decks of DONG Energy’s 1.2GW Hornsea Project One wind farm off the Yorkshire coast.Hornsea Project One is equipped with three offshore substations. The scope of supply covers three MacArtney 160 kN electrical cable pulling winches including three comprehensive spare parts packages for each of the three winches.The power cables are to be pulled through a total of 15 J-tubes onto each substation for connection. The actual winch is rotatable for direct 360 degrees operation and the pull is generated through 250 m Ø32 Dyneema rope.MacArtney will also provide additional equipment consisting of a DNV approved password-secured ‘capacity reduction mode’ which enables cable installers to use smaller sheave blocks to install the inter array cables. In addition, the supply includes an integrated data logger with an extra large 15.4 inch HMI, and 360 degrees rotation for optimised operation, which reduces the costs of reversible units and sheave blocks. Additionally, Dyneema ropes have been chosen for reasons of simplified operation, the company said.The scope is designed and manufactured according to DNV/GL 2.22 certification, to CE marking, and to LOLER.”We are happy to be part of this project. We believe in setting the bar high and the project reflects both good team work and long-standing competences when it comes to project management, designing, engineering, and constructing appliances required by the offshore wind sector,” said Søren Hartvigsen, Technical Director of MacArtney Manufacturing.last_img read more

Video: Wavepiston deployment at DanWEC

first_imgWavepiston has released a video showing the recent redeployment of its wave energy device prototype off the coast of Denmark.Wavepiston’s device is comprised of a 120-meter long steel wire stretched between two anchored buoys.The string currently has one energy collector mounted onboard, while the second is expected to be added soon, the Danish wave energy develioper Wavepiston said.In total, the prototype system will house 8 optimized energy collectors, with the expected power output of 12kW.It works as the moving plates pump seawater into pipe which leads it to a turbine that produces electricity.The device hit the waters of DanWEC testing center on May 11, 2017.last_img read more

VBMS Nets Moray OWF East Inter-Array Cable Deal

first_imgVBMS, a subsidiary of Royal Boskalis Westminster, has signed a Preferred Bidder Agreement for the supply and installation of the inter-array cables for Moray Offshore Windfarm East (MOWE) in the UK. MOWE is a joint venture company owned by EDP Renewables (77%) and ENGIE (23%).The contract award is subject to financial close which is expected to take place in the second half of 2018, the company noted.The project scope includes the supply, installation and burial, as well as termination and testing of approximately one hundred 66kV inter-array cables.The project execution will begin at the start of next decade.last_img read more

Drewry: Asia-West Africa Trade on Recovery Path

first_imgThe outlook for the Asia-West Africa trade is improving, but there is much ground still to recover, shipping consultancy Drewry said.Container throughput during the third quarter of this year in the southbound Asia to West Africa trade grew at its fastest rate since the last period of 2014, rising by 7% year-on-year.This built on the 3% growth recorded in the second quarter, which marked the first upswing in over two years. The latest figures yielded a year-to-date growth rate of 3.2% with volumes landing just over 900,000 TEU after nine months.As this trade is highly exposed to the vagaries of the oil market, with the major oil exporting nations in West Africa being highly dependent on foreign exchange earnings to fund imports, the rise in container volumes seen in 2017, therefore, can be partly attributed to the rising oil market.Prompted by improving volumes and freight rates, operators in the Asia-West Africa trade introduced a large slug of additional capacity to the market from August, which led a drop of 25% in the value of spot market freight rates.Looking forward, this trade is set to see similar volumes in 2018 as well, with some modest growth potential.“While the demand outlook is improving there is little reason to expect any great surge in inbound volumes into West Africa next year. Having got greedy, carriers will be more wary of adding too much capacity to this trade in one hit in the future,” Drewry concluded.last_img read more

European Commission Seeks Comments on Future Regime for Liner Shipping Consortia

first_imgThe European Commission is inviting comments on the regulation exempting liner shipping consortia from EU antitrust rules that prohibit anticompetitive agreements between companies, known as the “Consortia Block Exemption Regulation”.Given that the regulation will expire on April 25, 2020, the commission has launched a consultation seeking to collect views from stakeholders.These comments are to assist the commission’s assessment of the impact and relevance of the regulation and provide evidence for determining whether it should be left to expire or prolonged, and if so, under which conditions.In particular, the European Commission is seeking the views of shipping companies, their clients — shippers and freight forwarders, port operators and their respective associations. Other interested parties include industry analysts, academics, and law firms specializing in competition law and the maritime sector. The competition authorities of the EU Member States will also be consulted.All stakeholders are invited to submit their views on the commission’s consultation website until December 20, 2018.Liner shipping services comprise the provision of regular, scheduled non-bulk maritime cargo transport on a specific route. They require significant levels of investment and therefore are regularly provided by several shipping companies cooperating in consortia agreements. Consortia can lead to economies of scale and better use of the space of the vessels. A fair share of the benefits resulting from these efficiencies can be passed on to the users of the shipping services in terms of better coverage of ports and better services.Container shipping organised on the basis of liner consortia accounts for the majority of non-bulk freight carried by sea to and from Europe. Competitive shipping services are therefore essential for the EU’s economy as a whole.EU law generally bans agreements between companies that restrict competition. However, the maritime Consortia Block Exemption Regulation allows, under certain conditions, shipping lines with a combined market share of below 30% to enter into cooperation agreements to provide joint cargo transport services.Where such consortia face sufficient competition, where they are not used to fix prices nor share the market, their users may benefit from improvements in productivity and service quality. They are therefore exempted from the prohibition of anticompetitive agreements in Article 101(1) of the Treaty on the Functioning of the European Union (TFEU).last_img read more