whats in the news?

31 Jul What’s in the news in July?

What’s in the news in July?

Brisbane tenants pay some of the cheapest rent in the country

Brisbane remains one of the cheapest capital cities in Australia to rent a house or unit, coming in more affordable even than Hobart, a new report shows.

New figures from the Domain Group’s June quarter Rental Report show Brisbane is one of the cheapest capital cities to rent in the country, with the median weekly rent less than everywhere bar Adelaide and Perth.

The median asking rent for a house in Brisbane is $450 a week and $390 a week for units. Neither of these figures have changed in more than 12 months, the data showed.

You can read the full article from Domain by clicking here.

For lease
Median asking rents for houses and units in Brisbane have not moved for more than 12 months, according to a report from Domain. Photo: Tammy Law
Lux-Appartments-
Luxury apartments and suburbs with desirable school catchments continue to outperform. Photo: Tammy Law

Units without car parking under pressure in softening Brisbane property market

The new unit oversupply is well entrenched in pockets of inner Brisbane, but one type appears to be feeling the pressure the most.

According to experts, investor stock without car parking is bearing the brunt of the soft new-unit market. Herron Todd White director, David Notley, said it was difficult to calculate an exact median price differential due to location variables.

However, he said recent sales evidence showed units without car parking were experiencing market resistance and an increased reduction in value compared with those with a car space due to the limited demand in the market currently.

You can read the full article from Domain by clicking here

The article is by Nicola McDougal

Developer predicts ‘game changer’ for suburb

A new development is expected to boost market appeal in Lutwyche, according to developer Merchant Estates CEO Arshan Merchant. Mr Merchant said Prentice Park Residences would be a “game changer” for the northern suburb market and predicted the end result would be akin to how the Emporium development improved the Fortitude Valley market.

Relating it to Fortitude Valley, maybe 10 or 15 years ago, it was a very downtrodden area, it was a bit dodgy,” he said. “Then the Emporium launched and a few other high-end projects launched and the dynamic of Fortitude Valley and that area has changed and that’s really what this project is all about.

You can read the full article from Realestate.com by clicking here

Prentice-Park
Prentice Park Residences, a new development in Lutwyche, is expected to start construction within weeks.
Property professionals surveyed by NAB predict Queensland will lead the country for capital growth in the next two years.

QLD housing market to lead the nation for capital growth: NAB

QUEENSLAND’S housing market is tipped to lead the country for capital growth in the next two years while prices in NSW and Victoria continue to slide, according to a survey of hundreds of property professionals.

The latest National Australia Bank (NAB) quarterly survey of 300 respondents reveals the industry expects house prices in Queensland to increase by 0.7 per cent in the next year and to have risen by 1.3 per cent in two years.

Areas tipped to enjoy above-average growth over the next year include Brisbane, Cairns, the Gold Coast and the Sunshine Coast, with Coomera and New Farm singled out as suburbs expected to outperform.

The outlook for rents in the state is also positive and likely placing upward pressure on yields.

You can read the full article from the Courier Mail by clicking here

The article is by Elizabeth Tilley

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