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Sun, sand and surf riding wave of property popularity as losses hit lowest levels since GFC



SUN, sand and surf are riding a wave of popularity, with coastal losses at their lowest levels since the turbulent post global financial crisis period.

Coastal markets, especially those linked to lifestyle, were back in vogue as the major capital cities experienced a rise in property values.

CoreLogic’s Pain & Gain Report for the June Quarter this year, released over the weekend, found such lifestyle regions had “experienced a significant decline in the proportion of resales at a loss over recent years”.

Holiday and retirement destinations like Mooloolaba have seen a rise in popularity. Picture: Lachie Millard

“Gold Coast loss-making resales are at their lowest proportion since April 2010 (8.9 per cent) and on the Sunshine Coast the proportion is the lowest since November 2008 (7.2 per cent).”

The lowest levels of resale losses across the regions nationally came out of areas close to Melbourne and Sydney, led by Newcastle Lake Macquarie (1.8 per cent), Illawarra (1.9 per cent), Geelong (2.4 per cent), Richmond-Tweed (4.4 per cent), and Mid North Coast (5.7 per cent).

Six-year-old Layla Lai plays with her Kelpies Banjo and Indy at one of a myriad of beaches on the Sunshine Coast. Picture: Lachie Millard.

“This is reflective of demand growing for coastal/lifestyle property and also reflective of reinvestment from Sydney and Melbourne homeowners that have accrued substantial equity in their properties.”

Loss making resales in Cairns were at 26.1 per cent while the figure was at 26.5 per cent in the Western Australian port city of Bunbury.

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Brisbane’s population picks up, but more people moving to Pimpama



Brisbane’s population picks up, but more people moving to Pimpama

Brisbane’s population hit 2.4 million in June 2017, according to ABS figures.Source:Supplied

BRISBANE is back among Australia’s fastest-growing cities thanks to a growth spurt, but more people are flocking to areas outside the state’s capital.

New figures from the Australian Bureau of Statistics show the city’s population grew by 48,000 in the year to June 2017 to hit 2.4 million — the fastest rate of growth in four years.

Brisbane’s population picks up, but more people moving to Pimpama

Suburban homes in Brisbane’s southwest.Source:News Corp Australia

In Brisbane, net overseas migration was the biggest contributor to the surge, with 38 per cent of the population growth coming from overseas.

Births accounted for 37 per cent of the growth, while interstate migration accounted for 25 per cent.

The fastest and largest-growing area in Queensland is Pimpama on the Gold Coast, which grew by 3000 people or 31 per cent in 2016-17.

Brisbane’s population picks up, but more people moving to Pimpama
An aerial shot of Pimpama on the northern end of the Gold Coast. Picture: skyepicsaerialphotography.Source:Supplied 

Net internal migration was the main driver of growth, accounting for almost 90 per cent of population change.

Other areas to experience significant population growth include Jimboomba on the southern outskirts of Brisbane, North Lakes-Mango Hill in the Moreton Bay region, Coomera on the Gold Coast and Springfield Lakes in Ipswich.

Brisbane’s population picks up, but more people moving to Pimpama

Springfield Lakes has experienced strong population growth, according to the ABS.Source:News Limited

Ripley in Ipswich, the inner Brisbane suburb of Newstead and Peregian Springs on the Sunshine Coast were the fastest growing areas in the state in 2016-17.

ABS demography director Anthony Grubb said the latest population estimates were the first to include data on the components driving population growth in capital cities and regions.

“It is now possible to not only see how much population is changing in an area, but to understand why this change is occurring”, he said.

Michael Matusik, director of independent property advisory Matusik Property Insights, believes Queensland’s improving population growth should impact house prices, but it hadn’t so far because the state’s economy also needed to improve.

Brisbane’s population picks up, but more people moving to Pimpama

Houses in Ipswich, where areas like Springfield and Ripley are experiencing strong population growth.Source:News Limited

Mr Matusik told The Courier-Mail Pimpama’s population was growing at a rate he didn’t believe was sustainable.

“It’s a reflection of where land supply is on the Gold Coast at the moment and I think that will calm down,” he said.

“But if the Gold Coast is going to continue expanding, those areas will become more like North Lakes in due course.”

Sydney’s population grew by just over 100,000 people in one year for the first time, taking that city’s total numbers to 5.1 million.

Australia’s big east coast cities carried most of the growth — Melbourne, Sydney and Brisbane accounted for over 70 per cent of Australia’s population increase.

Darwin, Adelaide and Perth grew at 1 per cent or less.


Suburb Population change 2016-17 Population as at June 30, 2017

1. Pimpama, Gold Coast 30.8% 12,586

2. Jimboomba 7.9% 28,639

3. North Lakes-Mango Hill 6.7% 33,225

4. Coomera 10.3% 15,227

5. Springfield Lakes 8.7% 17,468

(Source: ABS)


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Gympie region’s rental crisis hits a new low



Gympie region's rental crisis hits a new low

RENTAL vacancy rates in Gympie have plunged from almost 6 per cent in June 2011, to 0.5 per cent, making it most likely the toughest rental market in Queensland.

What this means is that finding a place to rent in Gympie is hard, and rents are going up because of the high demand for what is available.

The March quarter vacancy rate data reveals generally improving rental markets across Queensland, according to REIQ’s Q1 2018 Vacancy Rate report, released yesterday.

Gympie region's rental crisis hits a new low
Residential vacancy rates in Queenslandcontributed

According to the data, the only place in Queensland as tight as Gympie when it comes to finding a place to rent is Caloundra Coast. Even Noosa is easier to find a place to rent than Gympie.

Regional Queensland, in particular, has delivered good results in the wake of a two or three bleak years, the REIQ says.

CEO Antonia Mercorella said the regional vacancies improvements this quarter followed similar small improvements in 2017 Q4, and these small but steady improvements were the hallmarks of Queensland real estate.

Gympie region's rental crisis hits a new low
Rentals are in short supplyCONTRIBUTED

In the Gympie region, residential vacancy rates have had a stead slide from 3.7 per cent in September 2016, to 2.1 per cent in December 2016, 2.2 per cent in March 2017, 1 per cent last December and 0.5 per cent in March 2018.

Gympie region's rental crisis hits a new lowResidential vacancy rates in Queenslandcontributed

“Some of our markets, such as the Gold and Sunshine coasts, remain uncomfortably tight and we would like to see more investors enter those markets, however APRA’s tightened lending criteria is not encouraging investors to consider property. The result is tight markets remain tight, despite good opportunities for landlords in those markets,” she said.

Greater Brisbane’s vacancy rates eased by 0.1 per cent to 2.7 per cent, which remains a healthy market.

Brisbane LGA also eased 0.1 per cent to 3.1 per cent, which indicates a healthy market for a second consecutive quarter.

Ipswich tightened marginally, moving from 3.1 to 3.0 per cent, but has maintained its position as a healthy rental market.

“This area is really a growth corridor for Queensland and we’re seeing buyers and renters flocking to this part of the southeast corner. It’s great news that the rental market is maintaining its stability and healthy status,” Ms Mercorella said.

The Sunshine Coast, overall, has a vacancy rate of 1 per cent. Caloundra, along with Gympie, has the tightest vacancy rate in Queensland, with just 0.5 per cent of properties vacant.

“The Sunshine Coast is very challenging for renters who are looking for accommodation and we have said consistently for quite some time that this market would benefit from additional investor activity. The upward pressure on rents, as a result of this tight vacancy rate, will serve to push this market towards unaffordable,” Ms Mercorella said.

Noosa is also very tight, at just 0.8 per cent.

“It’s no surprise that renters are flocking to this market – it’s such a stunning part of the world with employment opportunities – but additional supply into this market would be very beneficial,” Ms Mercorella said.

Fraser Coast, which is made up of Hervey Bay and Maryborough, is a tight market, although it has eased somewhat. Fraser Coast has moved from 1.6 per cent in December to 1.9 per cent in March. Hervey Bay is now 1.8 per cent – a tight market – and Maryborough is now 2.5 per cent, which is a healthy market.

Cairns has also eased from 1.6 per cent to 2.1 per cent, moving this popular destination closer to a healthy rental market.

Bundaberg has moved from 1.7 per cent to 3.4 per cent. This is quite a jump, but there’s likely to be a seasonal factor at work here with the transfer season impacting vacancies as people move in and leave for employment factors. Bundaberg remains a healthy rental market.

In continued good news for Gladstone, this market has fallen for a third consecutive quarter. Essentially this market has improved significantly since March 2016 when the vacancy rate was 11.3 per cent.

“We are seeing some stabilisation of the market in this area, with the rental market delivering some cautiously improving. It’s been a long time coming and we’ll continue to wait and see with this region,” Ms Mercorella said.

Mackay is another good news story, with significant improvements from December 2016, when vacancies were 7.9 per cent.

“To see this market at 3.6 per cent, which although it is technically just outside the healthy range, it is still in reasonably good shape and this is very encouraging. It has been consistently improving over the past couple of years and we have much to be optimistic about,” Ms Mercorella said.

The Rockhampton vacancy rate has been somewhat volatile in the recent years, however, we are starting to see some consistent downward trends emerge. The fourth consecutive quarterly fall has resulted in the lowest vacancy rate since September 2014, of 4.1 per cent.

Toowoomba has tightened to its lowest vacancy rate since September 2016. With just 2.3 per cent vacancies, this market is in the tight range.

Townsville has tightened again and this is now the lowest rate it’s been since 2013. This is a continued good news story for this market which represents some of the best buying opportunities in Queensland at the moment. The vacancy rate is 3.8 per cent and while that is just outside the healthy range (healthy is 2.5 – 3.5 per cent) it is a vast improvement on the highest rate of 7.1 per cent in September 2016.


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Buyers spend $16m-plus to snap up Qld farms at auction



Buyers spend $16m-plus to snap up Qld farms at auction

3872 Gatton Esk Road, Esk, sold for $10m under the hammer.Source:Supplied

THREE large farms with big skies and rolling farmland fetched over $16million under the hammer in Brisbane Friday morning.

Sunnyside in Esk – made up of a massive 21 adjoining surveyed lots, with a total land area of 2,339.85 hectares – was the biggest prize of the day, selling for a massive $10m.

Agent Jez McNamara of Ray White Rural Queensland told The Courier-Mail that it was a new benchmark for large grazing properties in South East Queensland.

“It’s been owned by the same family for four generations, they’ve built on it. It was tough decision to sell but it was time to wind up the family partnership and move on. It’s a stunning property and less than an hour from the Brisbane CBD,” he said.

Buyers spend $16m-plus to snap up Qld farms at auction

Such an idyllic location.Source:Supplied

Buyers spend $16m-plus to snap up Qld farms at auction

If you love open country, this is your heaven.Source:Supplied

Buyers spend $16m-plus to snap up Qld farms at auction

Classic homestead going back several generations.Source:Supplied

The property hit the market for the first time in 33 years and includes 27 earth dams, bore, well, seasonal creeks and gullies, and also has town domestic water and access to mains water for stock water.

“Whether you wish to breed, feed-on or fatten there is easy access to cattle sale yards, feedlots and abattoirs all less then half an hour away.”

With the property at 3872 Gatton Esk Road, Esk, located so close to Brisbane, it also had potential for future subdivision subject to council approval.

Another farm “Galloway Downs” at 193 Macaulay Road, Tansey, fetched $4.3m at auction Friday morning.

Buyers spend $16m-plus to snap up Qld farms at auction

Galloway Downs at 193 Macaulay Road, Tansey sold for $4.3m.Source:Supplied

Buyers spend $16m-plus to snap up Qld farms at auction

Perfect flat farmland.Source:Supplied

Buyers spend $16m-plus to snap up Qld farms at auction

Space for all the family.Source:Supplied

The property was made up of eight titles with 360 acres of blue gum creek flats used for cropping, with the balance used for grazing.

It’s located 25km from Goomeri, just 70km from Gympie and 250km from Brisbane, according to its listing by agents Ian Newson and Janelle Duffin of Ray White – Mundubbera.

The property has a six bedroom country homestead that overlooks grazing land.

They were also responsible for the third successful auction which involved a property called Boonimba” in Windera – 50km from Goomeri and 105km from Gympie.

It had a triple whammy of wilderness, cattle and timber, all potential income sources and sold for $2.4m.

Buyers spend $16m-plus to snap up Qld farms at auction

Surely there’s eco-tourism potential at “Boonimba”.Source:Supplied

Buyers spend $16m-plus to snap up Qld farms at auction

How wide is this tree trunk? Can’t even wrap arms around it.Source:Supplied

Buyers spend $16m-plus to snap up Qld farms at auction

What a great spot for a day’s work.Source:Supplied

Set over 2,602hectares, it was listed as having “immediate cashflow from mature trees and income for decades to come from younger trees under Managed Hardwood Program” and also has a herd included in the sale with stunning scenery perfect for tourism options.

The property had over 6km of frontage to Barambah Creek and access to a stunning gorge, as well as lava flows, diverse native flora and fauna and potential for an eco-tourism retreat.


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