Rentals disappearing as Brisbane moves towards landlord’s market

first_imgBrisbane’s rental vacancy rate has declined for a sixth straight month, according to SQM Research.BRISBANE is fast becoming a landlord’s market as rentals are snapped up by southerners fleeing Sydney and Melbourne for a taste of the sunshine state.New figures from property valuation firm SQM Research reveal rental vacancies in the Queensland capital fell for a sixth straight month in August to 2.8 per cent — down from 3.4 per cent a year ago. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours ago Brisbane’s rental vacancy rate fell to 2.8 per cent in August, according to SQM Research. Image: AAP/James Ross.Around 9500 residential rentals are sitting empty in the city, compared with more than 19,000 in Sydney, as rising demand eats up surplus stock. But in good news for tenants, rents in Brisbane are holding firm — for now.The asking rent for a three-bedroom house in the city slipped just 0.4 per cent over the past month to $450 a week, while unit rents rose slightly to $371 a week. NEWS PRESENTER’S PLACE TO LET OFF STEAM BRISBANE UNITS SAFE AS HOUSES Brisbane is becoming a landlord’s market, with more people moving to the city to rent.SQM Research managing director Louis Christopher said Brisbane was experiencing a sustained reduction in its vacancy rate, driven by underlying demand sparked by a peak in housing completions and increased interstate migration.“The worst is definitely behind the Brisbane housing market, there is no question about that, and our expectation is vacancy rates will continue to fall from these levels,” Mr Christopher said.“There are more southerners moving from Sydney and Melbourne to southeast Queensland to take advantage of the standard of living and better housing affordability — both on the buyer front and the rental front.“Why this is happening now, as opposed to five years ago, is because job creation has increased in the Brisbane and southeast Queensland economy.”But Mr Christopher said the vacancy rate needed to get closer to 2 per cent before Brisbane could officially be declared a landlord’s market.He said asking rents would also likely start to rise as the vacancy rate continued to tighten.“When we do get close to that 2 per cent mark, that will put upward pressure on rents.” The national vacancy rate slipped to 2.1 per cent in August, according to SQM Research. The national residential vacancy rate dipped to 2.1 per cent in August, with 70,447 properties sitting empty across the country. Sydney’s vacancy rate is the highest in 13 years, with 2.8 per cent of the city’s units and houses unoccupied, yet the asking rent for a three-bedroom house in the city is still the highest in the country at $708 a week.last_img read more

ABS data show Mount Sheridan residents spend $825K on renos

first_imgMt SheridanSET in the hillsides of Cairns’ southern suburbs, Mount Sheridan has emerged as one of the city’s most affordable and family-friendly areas.While settlement of the area dates from the late 1800s, when the land was predominantly used for sugar cane farming, the population remained minimal until the 1990s, when rapid growth took place as large numbers of new dwellings were added to the area.With a population of 8271 and each home on average housing 2.8 people, Mount Sheridan is one of Cairns’ most popular suburbs.Mount Sheridan is an easy 10 minute drive from the Cairns City and has a variety of houses, from relaxed family homes to properties high on the hill with scenic views across the Far North landscape.The area is well-serviced by early childhood services and schools. Mount Sheridan is bounded by Bayview Heights in the north, White Rock to the east and Bentley Park to the south.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days agoIt is less than 15 minutes to the southern Cairns township of Gordonvale and the turn-off to the highway to the Atherton Tablelands.Australian Bureau of Statistics data this year showed Mount Sheridan residents were houseproud too, spending $825,100 on renovations.On Bernard Dr, the suburb’s residents are well serviced by Mount Sheridan Plaza, which includes Coles, Kmart, Woolworths, and an internal mall lined with specialty stores.On the periphery is a Red Rooster and Hungry Jacks.The multicultural area also make Mount Sheridan a great place to live with the Cook Islands Christian Church often hosting big celebrations.In Mount Sheridan, 173 homes were sold in the 12 months to October this year for a median price of $392,500. Values grew by 18.9 per cent over the past five years.Almost 90 per cent of properties in the suburb are detached houses but just under a quarter are owner occupied.last_img read more

Luxury emptynesters turn bedroom into wine cellar

first_img Queenslanders ‘most well off in nation’ What an amazing spot to watch Riverfire from! 32 Macrossan Street in Brisbane City is the prestigious Admiralty Quays building.Not to be outdone by famous neighbours like a former prime minister and two job queens, a pair of emptynesters converted one of their bedrooms into a lovely wine cellar.Mike and Rhonda O’Dwyer, whose children had long left the nest, had been keeping their spare bedrooms free for when the offspring visited.But, 12 months ago and almost 18 years since they’d bought the luxury apartment in prestigious Admiralty Quays, the couple decided to bite the bullet and turn one bedroom into their wine cellar. New look at Hemsworth’s mega mansion Admiralty Quays is one of the most tightly held residential buildings in the city.As outstanding as all that is, the most amazing part of the home, according to Ms Goodger, was its “floor-to-ceiling glass that encompasses the breathtaking views of the city, Story Bridge, and river”.The three bedroom, one wine cellar, three bathroom, double car park luxury apartment will go to auction at 6pm on March 20 at 33 Lytton Road, East Brisbane. And tuck into your own personal wine collection. Amy Shark sinks millions into home town The cellar and wine tasting room were created in a former bedroom. This brave move came after they’d successfully begun using another bedroom as an office in a building that’s home to the likes of former Australian PM Kevin Rudd, his wife jobs richlister Therese Rein and fellow employment queen Sarina Russo.“We decided we had so much space and said, you know what, this room would make a marvellous wine cellar,” Mr O’Dwyer told The Courier-Mail.“It holds 500 bottles. Outside the entrance of the wine cellar there’s a wine tasting room, where we have classic stools and tables.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours ago Place New Farm agent Judy Goodger is taking the property to auction next month.“It’s perfect for entertaining private, intimate numbers. You can get together with a couple of people, sit and chat just outside cellar and taste a variety of wines.”The rooms had been used for whenever their children or other guests came to stay over.“We have already converted one bedroom into an office. I’m not a wine expert, but I’ve always enjoyed a nice red. I’m more of a social person who enjoys the company of others, so the cellar has given my wife and I the opportunity to have friends drop in and share a glass of wine together.”They now have one bedroom which is theirs, one which they use as an office and another that’s a guest room. Residents have special facilities for group entertaining with stunning views across the water. 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?00:58 The residents have a gym looking out to the Story Bridge.The property is not your average home, admittedly – by the riverfront in the Brisbane CBD.It’s a tightly held residential building, according to real estate agent Judy Goodger of Place Estate Agents.“This is the first time this stunning apartment in Admiralty Quays has been on the market in nearly two decades,” she said.“The wine cellar holds 500 bottles and we believe it’s the only apartment in the building that has one this large. It is the perfect home for those who want to entertain or simply relax and enjoy the priceless, panoramic views.” MORE: NRL star cuts Gold Coast ties FOLLOW SOPHIE FOSTER ON FACEBOOK Your might bump into a former PM or a richlister in the lobby. The apartment looks out over the twinkling lights of the city, the Brisbane River and the Story Bridge.last_img read more

Cairns units give strongest investor returns in Queensland

first_img57-59 Fig Tree Drive, Caravonica. The quarterly median house price increased marginally over the December 2018 quarter, up 0.1 per cent to $400,500 — however it was an improvement on the previous quarter when the median reduced by 4.3 per cent.The result is somewhat surprising given the volume of sales was down on the previous quarter.In fact, the volume of sales in Cairns has reduced about 12 per cent over the year ending December 2018.Caravonica, nestled at the foot of rainforest, posted Cairns’ best price growth over the year with its median house price increasing an impressive 26.3 per cent to $499,000 — a price uplift of more than $100,000 in 12 months.Over the past year, the median days on market and median vendor discounts have remained relatively static.A house in Cairns required about 56 days to achieve a sale with the median negotiated discount sitting at around 5.8 per cent. CAIRNS has proved itself a standout among the state posting one of the strongest returns for units in Queensland according to the recent Real Estate Institute of Queensland’s Queensland Market Monitor report.Townsville, the Far North and Bundaberg recorded the strongest performance for the December 2018 quarter with gains of 15.9, 8.4 and 6.9 per cent.In Cairns 218 units sold at a median price of $238,500.The report authors commented that Cairns property prices were “relatively steady compared to a year ago”.The Cairns median house price reduced 1.2 per cent over the year ending December to finish 2018 on $405,000. The Whitehaven unit complex on Wattle Street, Yorkeys Knob. Picture: BRENDAN RADKE Its unit market posted similar yearly results with its median price flat at $230,000.“Over the December quarter, however, this sector was the second-best unit performer in the state,” the report read.“The rental market continues to be tight, which has resulted in weekly rents increasing from $10 to about $45 per week over the past year depending on the dwelling type.“Yields in Cairns are also very healthy, which means that the investment sector is enjoying good cash flow even if the capital growth equation continues to be mostly benign.“Only time will tell if the most recent median unit price increases are a sign of more growth on the horizon.“The volume of sales for both dwelling types is continuing to fall, however, theMore from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days agonumber of unit listings has contracted over the past year.”The most affordable suburbs for houses for the year ending December 2018 were White Rock ($287,500), Woree ($306,500) and Gordonvale ($310,000).The most affordable suburbs for units for the year ending December 2018 were in Woree ($132,250), Bungalow ($150,000) and Edmonton ($150,000).last_img read more

Queensland architect Chris Beckingham’s island masterpiece hits the market

first_imgThe only home on Hamilton Island with direct access to Pebble Beach has hit the market.An island masterpiece designed by the man behind one of the world’s most luxurious resorts has hit the market with a multimillion-dollar price tag.It’s the only home on Queensland’s famous Hamilton Island, with direct access to Pebble Beach. SUSTAINABLE HOMES A BUYER DESIRE MORE REAL ESTATE NEWS: HOW TO DESIGN A $8M PENTHOUSE FOLLOW US ON FACEBOOK Absolutely stunning property.The three-bedroom property is one of the original homes on Melaleuca Drive, designed by Queensland architect Chris Beckingham, the man behind world-renowned Qualia. Located at 10 Melaleuca Drive, the home is expected to sell for more than $4 million and has been used as a private residence and holiday rental.Hamilton Island Real Estate agent Liam Kearney said the owners were selling due to a change of circumstances. The home has been “beautifully done”.“They don’t get up here as much as they used to,” Mr Kearney said.The home has carved timber doors at the main entrance and the open-plan layout would suit a buyer who enjoys an indoor-outdoor Balinese-style of living, Mr Kearney said.“It’s an original piece on the island, it’s beautifully done.” Water views for miles.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours ago“There’s nothing compared to it — it’s a standout.”He said the eastern view lines provided one of the world’s best sunrise views.The property is on a 2365sq m block, with complete privacy.Mr Kearney said he had buyer interest from Sydney and Melbourne. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:27Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:27 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, 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 Rate1xFullscreenWhy Spring 2019 is a good time to sell01:27last_img read more

Robin Bailey lists Brisbane home

first_img Spick and span and ready for occupation. The home in Barellan Point is on a large 5,800 sq m block, with the house at the end of a long driveway.The current listing, a beautiful three bedroom 5,800sq m property in Barellan Point, in the city’s western fringe, went on the market a fortnight after she quit her job as announcer on Triple M to care for her ailing husband. Robin Bailey and her husband Sean Pickwell, who had been battling liver cancer for some time. Picture: Annette Dew.Radio personality Robin Bailey has listed her Brisbane home days after the tragic loss of her husband Sean Pickwell to cancer.It’s the second Brisbane property she has put up for sale in recent weeks, with a Chelmer unit having been sold in mid August for $290,000. Serenity off the Brisbane River. Perfect spot to set up for cozy winter days.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe house was described as being “situated on a very private and peaceful 5,777sq m parcel of usable land”.The property overlooks the Brisbane River, and was said to have not been affected by the floods of 1974, 2011 and 2013. The price has been set at offers over $495,000. The property is being marketed on realestate.com.au by Neil Mundy of Ray White Ipswich.The house was listed at offers over $495,000 on realestate.com.au.Pickwell passed away on September 26 with his wish for a farewell instead of a funeral fulfilled this week in what Bailey told Instagram was “one big kick-ass party”. Beauty queen buys in the Sunshine State TV star helps couple score dream beach house MORE: Most affordable coast suburbs close to Brisbane The block is large, perfect for picnics and kicking the ball around on weekends.Among its features was a large outdoor entertainment area running the length of the home with an inground pool. The large two bay carport was said to have potential for conversion to a man cave or granny flat with airconditioning. FOLLOW SOPHIE FOSTER ON TWITTERlast_img read more

Exelon to buy US Everett LNG terminal from Engie

first_imgImage courtesy of EngieExelon Generation, a unit of the US energy producer Exelon Corporation, struck an agreement with France’s Engie to purchase the company’s Everett LNG import terminal in the US.The acquisition would enable Exelon to supply fuel to Exelon’s Mystic generation station’s units 8 and 9 while they remain in operation before the planned shutdown in 2022.Following the acquisition Exelon will continue providing LNG to gas utilities, marketers and other market participants in New England, the company said in a statement.Transaction closure is dependent upon regulatory review by the U.S. Department of Energy for LNG import authorization and, as necessary, authorization from the U.S. Department of Justice, all expected in the fourth quarter of the year.The Everett Marine Terminal, also known as the Distrigas Terminal, is the longest-operating LNG import facility of its kind in the United States. The facility has connections with two interstate pipeline systems, as well as a local gas utility’s distribution system.Mystic generating station is a 2,000-megawatt natural gas- and oil-fueled power plant. Its units 7, 8 and 9 are the operating units currently, but Exelon has unveiled its plans to retire the units in June 2022.last_img read more

Grupo R to build two shallow water platforms

first_imgGrupo R has been awarded a contract to build two shallow water platforms in Mexico. Grupo R, a conglomerate of companies dedicated to the oil, gas and energy sector in Mexico, said on Wednesday that the contract for the engineering, procurement, construction, loading, mooring, transport and installation of two drilling platforms in the Gulf of Mexico was assigned to it last week.Construction will take place at the Bosnor shipyard situated on the Pánuco River in Tampico, Tamaulipas.The company has not revealed further details about the project.Grupo R’s principal activities include onshore and offshore drilling including ultra-deep water, operation of gas fields, offshore construction and maintenance services, oil & gas infrastructure, EPC projects and exploration.The company’s new division, Grupo R Petróleo y Gas, is involved in the development and production of oil and gas, both in conventional and unconventional reservoirs.last_img read more

PHOTO: Borr Drilling’s Prospector 5 rig on the move

first_imgBorr Drilling’s Prospector 5 jack-up drilling rig seems ready to leave Schiedam, The Netherlands, where it’s been sitting for months.Prospector 5 – Picture by Hans TompotAccording to a photo and a Linkedin post by Hans Tompot, the rig, previously owned by Paragon Offshore (a company recently taken over by Borr), is set to depart a yard in Schiedam.“At departure, the rig of the Friede & Goldman JU2000E design will be assisted by four DAMEN Azimuth Stern Drive tugs, operated by KotugSMIT,” Tompot said in his post.The Prospector 5 jack-up rig was built for Prospector Offshore by SWS in China in 2014. Prospector Offshore was then acquired by Paragon Offshore.The rig had spent three years working for Total in the North Sea between late 2014 and late 2017, at the Elgin location, in the Central Graben area of the UK North Sea. Upon the contract expiration, the rig was stacked in the Netherlands.Offshore Energy Today has reached out to Borr Drilling, seeking more info on the rig’s next destination. We will update the article if we get a response.Worth noting, while Borr Drilling has recently started a “scrapfest” selling several older rigs bought as part of Paragon transaction for scrap, the Prospector 5, and its sister rig Prospector 1 should not fear the similar fate, any time soon.Namely, announcing the Paragon transaction, Borr said the “two modern units of the leading JU-2000E design, the Prospector 1 and Prospector 5” would complement Borr’s fleet “and further consolidate its leading position in the premium jack-up segment.”Update: July 10, 2017Mr. Hans Tompot has informed us and has updated his Linkedin post accordingly, that the Prospector 5 on Monday evening left Schiedam, bound for Damen Verolme Rotterdam.Offshore Energy Today Stafflast_img read more

Lankhorst Dyneema Tethers WindFloat Atlantic

first_imgSource: Windplus SAThe 25MW WindFloat Atlantic floating project in Portugal has used the first ever Lankhorst Dyneema DM20 mooring tethers.According to the project developer Windplus SA, this is the first application of Gama98 Dyneema DM20 fiber ropes as mooring lines.The three WindFloat 8MW turbines will be moored at a water depth of between 85m to 100m some 20km off the coast from Viana do Castelo.Mooring systems of the turbines are made up of three catenary mooring lines of Gama98 rope construction made from Dyneema DM20 attached to chain and drag embedded anchors. The soft catenary mooring system will restrain the turbine’s horizontal motions, Windplus said.The ease of High Modulus Poly-Ethylene (HMPE) rope handling is expected to result in lower costs compared to spiral strand steel wire both during installation and future disconnection. The mooring lines will be pre-laid on the seabed, prior to the arrival of the turbines and connected using platform mooring connectors, the company stated.“The WindFloat Atlantic Project is a significant mooring project. It marks the first ever use of Gama98 Dyneema DM20 as mooring tethers in any offshore mooring application,” said Alberto Leao, Sales Renewable Energy, Lankhorst Euronete Portugal.“The mooring characteristics of Gama98 Dyneema DM20 makes it an ideal for offshore mooring projects and places Lankhorst at the forefront as the Fibre World Technological Leader on Mooring.”last_img read more