Experts warn of sharp fall in house prices

Posted on 30 September 2020
Source:  Courier Mail A ban on immigration could make the next few months a great time to buy a house, with COVID-19 sparking conditions not seen in 40 years. A COVID-19 induced ban on immigration is set to see Australia hit a giant population slump, the likes of which we have not seen in four decades, according to market experts, Fitch Ratings. In a research note, Fitch Ratings predicted Australian house prices would fall by 5 to 10 per cent in the next 12 to 18 months as a resu...
 

Mixed outlook on house prices

Posted on 30 September 2020
Source:  Australian Property Journal

RATINGS agency Fitch is forecasting house prices will decline by 5-10% over the 12 to 18 months due to lower immigration but economists disagree and believe the housing downturn will soon come to an end and they predict values could rise by up to 15% in 2021. Fitch noted that immigration was already slowing prior to the outbreak of the pandemic but numbers have plunged due to the government's stricter controls on international travel to com...
 

New real time data: cafe culture booms in the burbs

Posted on 15 September 2020
Source: Illion New data released today by illion shows the important role coffee is playing in helping COVID-weary Aussies cope with the daily grind. Whether it's a time-honored cappuccino or a trendier macchiato, cafephiles in Sydney and Melbourne continue to feed their cravings for fresh ground caffeine in the suburbs. Sydney Coffee consumption in Sydney City, has fallen. However, the traditional latte lines of Sydney have increased their suburban café spending, with th...
 

Emu Swamp Dam - Latest Update Aug 2020

Posted on 28 August 2020
Source: Southern Free Times - Dan Hunt, GBIP Project Chairman Looking back at the history of the Granite Belt Irrigation Project (GBIP) we are delighted by the progress that has been made in 2020 and the major steps that have been taken towards building this much- needed piece of water infrastructure for local primary producers and communities. The recent appointment of national engineering consultancy Premise places us in a strong position to obtain the necessary government permits and...
Posted in: Emu Swamp Dam Granite Belt Irrigation Project  

Buyer misled by subdivision "sold" prices, wins $2.6million compensation for sale above market value

Posted on 28 July 2020
Source:  Carter Capner Law In September 2007 Derek Eckford and wife Gale were enticed by a sign advertising the sale of undeveloped lots in the Avalon@Coolum estate. They drove up to the hilly subdivision to find the site office and were instantly attracted by the panorama that extended in the distance to the east, the Pacific Ocean and to the south, Mount Coolum. The sales brochure handed to them showed 17 of the 60 blocks including lot 10 on which the Ken Guy Rea...
 

Over 14k Qld renters on COVID-19 support

Posted on 22 July 2020
Source:  Australian Property Journal - Nelson Yap OVER 14,000 tenants across Queensland impacted by COVID-19 have requested rent reductions significantly higher the state government's estimates of 3,950 with Brisbane landlords and renters bearing the brunt. According to the Real Estate Institute of Queensland (REIQ), agents have been involved in negotiating temporary reduced rents on behalf of more than 14,000 rental tenants with their landlords. REIQ CEO Antonia Mercorella s...
 

Emu Swamp Dam - Another Infrastructure Project Proceeding

Posted on 12 June 2020
Minsol Group/Leeson Valuers/Costello Group are pleased to be awarded the land procurement contract associated with the Emu Swamp Dam/Granite Belt Irrigation Project.  This project is of national significance, consisting of a dam and pipeline that will provide the Granite Belt region with new water storage and irrigation.  The project has an estimated construction cost of $84 million and is scheduled for completion in 2022. The key benefits of the project include water security, foo...
Posted in: Emu Swamp Dam Granite Belt Irrigation Project  

Buyers are surprisingly responsive to a rise in listings over May

Posted on 10 June 2020
Source: Corelogic - Eliza Owen   COVID-19 has brought about downside risks for the economy and housing market. A 0.3% decline in March GDP confirmed a technical recession is underway in Australia, total wages paid fell 5.4% between mid-March and early May, and Australian dwelling market values saw the first month-on-month decline since June 2019. But one surprising sign of stabilising emerged in May. Home sales have risen, with home owners testing the mar...
 

The New Normal

Posted on 8 June 2020
Source:  McCarthy Durie Lawyers - Jon McCarthy As this financial year draws to a close it is time to consider the things that we can capitalise on going into 2020/2021. The 'new normal' demands that we focus our efforts to produce leaner more efficient businesses able to capitalise on opportunities that an economy in recovery presents. Everything must be 'on the table' service offering, staffing, premises, IT, working hours and locations everything! In normal tim...
 

Pandemic has thrown out the textbook approach to valuing anything

Posted on 20 May 2020
Source:  SMH - Stephen Bartholemeusz How do you value anything in the time of the coronavirus? Things are, of course, being valued. Shares, bonds, property and businesses are being traded despite the raft of uncertainties spawned by the coronavirus pandemic. Whether it's a share, a property - or a business like Virgin Australia -prospective buyers are having to think through the impacts of the pandemic on the particular asset. They know some businesses will be impacted more sever...
 
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