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Home ownership a priority

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Moreton Investor, Property Management, Real estate Moreton, Mortgage Broker Moreton, Moreton property market, Moreton property prices, renovating, Gen Y

The majority of Australians are prioritising the great Australian dream of owning a home, above getting married and having children.

Moreton Investor, Property Management, Real estate Moreton, Mortgage Broker Moreton, Moreton property market, Moreton property prices, renovating, Gen Y

GREG Matthews outside his recently purchased home at Doolandella. Picture: Philip Norrish

According to Westpac’s home ownership report conducted in July this year, owning a home or paying off a home sooner are the top priorities for 57 per cent of Australians who already have a home or are planning to buy within the next 12 months.

At the other end of the scale is finding Mr or Ms Right and becoming a parent with having children and getting married rated at 8 per cent and 5 per cent respectively.

Gen Y women in particular place a strong priority on home ownership with 49 per cent listing home ownership as a top lifetime goal, while having children and getting married rate at 14 per cent and 5 per cent respectively.

Westpac’s head of home ownership Melanie Evans said there were several reasons for the large gap between lifestyle priorities.

“Owning a home is a tangible dream we have some control over,” she said.

“People also find a strong sense of identity in owning a home and enjoy a huge amount of financial security.

“Homes are not only a place to live but a great investment and we place a large sum of net worth in them.

“Together, this identity and security can be big emotional drivers for wanting to own a home.”

Ms Evans said another reason why owning a home was such a high lifestyle priority was that the social fabric of society was changing.

According to the Australian Bureau of Statistics’ Australian Social Trends, March quarter 2012 report, the median age for first marriages for men and women increased by more than three years between 1990-2010.

The median age of first-time mothers has also changed between 1990-2010, increasing from 27.5 to 28.9 years.

“With a young, well-educated workforce with great earning potential, owning a home is now an affordable option at all lifestyle stages,” Ms Evans said.

Mechanic Greg Matthews, 26, is one of this young workforce who has just bought a three-bedroom home for $350,500 at Doolandella, in Brisbane’s western suburbs.

He plans to move to the home in December with his girlfriend when his contract settles.

“I’ve always been wise with my money and after travelling for awhile, I thought I’d buy a home,” he said.

“It took me about three years to save the money for the deposit and I had shares my parents bought me as well.”

After considering the state of the real estate market, Mr Matthews said he was particularly keen to buy a home.

“I thought it was better to get in now while interest rates are low and prices are good, especially in places like Doolandella,” he said.

“After renting for years in Indooroopilly, it will be good to have a space of my own.

“The mortgage might stop me from travelling or a big social life but it will be worth it.”

 

Original article published at www.news.com.au by Charlotte Durut, Real Estate Reporter, The Courier Mail  31/10/2013

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Renewed hopes of saving North Lakes Golf Club

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north lake

Residents living around the financially troubled North Lakes Golf Club are increasingly hopeful it can be saved from being turned into a retirement community.

The course has been bought by developer Village Retirement Group and is due to close at the end of 2019 although a DA is yet to be submitted.

The Save North Lakes Golf Club group met with Moreton Bay Regional Mayor Allan Sutherland this week and spokesman Andrew Cathcart tells Mark he is confident local will get a fair hearing.

Source: 4bc.com.au

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SEQ begins big push for a billion-dollar City Deal

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SEQ begins big push for a billion-dollar City Deal

Queensland Premier Annastacia Palaszczuk (left) and Treasurer Jackie Trad are pushing for a City Deal for south-east Queensland.

Photo: AAP/Dan Peled

Political delays dogging infrastructure projects will be history if talks on Tuesday morning cement a new billion-dollar 15-year City Deal for south-east Queensland between all three levels of government.

Such a deal could benefit 3 million people catching trains and buses, driving on highways, building businesses, looking for housing, and finding school and universities between the Sunshine and Gold coasts and west to Toowoomba.

Deputy premier Jackie Trad and Brisbane’s lord mayor Graham Quirk will on Tuesday morning outline how close the 10 south-east Queensland councils – Brisbane, Ipswich, Logan, Moreton Bay, Redland, Scenic Rim, Somerset, Sunshine Coast, Toowoomba and Lockyer Valley – are to signing Australia’s largest City Deal with the federal government.

Australia now has three City Deals backed by the federal government: Townsville (2016), Launceston (April 2017) and Western Sydney (March 2018).

Cr Quirk, the chairman of Council of Mayors (SEQ) that represents the region’s local governments, described a City Deal for the area as “a dramatic change”.

“The power of aligning the efforts of all levels of government and securing a long-term program of investment in our region will be a game changer,” Cr Quirk said.

“For the first time, all levels of government will be working in unison to protect and enhance the prosperity and liveability of south-east Queensland.”

SEQ begins big push for a billion-dollar City Deal
Brisbane’s lord mayor Graham Quirk begins a campaign for a City Deal funding package for 10 councils on Tuesday morning.
Photo: Fairfax Media

A City Deal binds the three levels of government — federal, state and local — as a group to agree to a 15-year rolling funding program of infrastructure projects that a fast-growing region needs.

As projects provide a lift in land value, that financial uplift is identified, captured and then re-invested into the infrastructure funding pool, under a model first identified in Manchester in 2012 and then in Brisbane in 2014.

In April 2018, Cr Quirk and Ms Trad met the federal government’s new Cities and Urban Infrastructure minister Paul Fletcher, when they first put forward the SEQ City Deal.

All parties described those 2018 talks as “positive”.

Cr Quirk and Ms Trad will begin the public push for the SEQ City Deal at a business breakfast at Brisbane’s Convention and Exhibition Centre on Tuesday.

“We secured Australia’s first ever City Deal in Townsville, which is paying dividends with projects like the North Queensland Stadium, delivered through the City Deal,” Ms Trad said.

“That is under construction and on track to be open for the start of the 2020 NRL season.”

Townsville’s City Deal is a 15-year arrangement, while Launceston’s is a five-year deal and Western Sydney’s is a 20-year deal.

The federal government is tipped to announce City Deals for Geelong and Darwin by September 2018, allowing planners to work on Hobart, Perth and south-east Queensland over 18 months.

How could it help?

It locks in project funds over 15 to 20 years, moving them away from political promises, which are subject to election outcomes. It could remove election squabbling over the same project.

It sets out a timetable for  projects allowing the private sector to invest more confidently.

It could help the next generation of infrastructure projects, after the Pacific Motorway, Cross River Rail and Brisbane Metro projects were all delayed by politics, angering voters.

It has also been mentioned as a way of funding Moreton Bay’s new university campus at Petrie and breathing life into the Brisbane River’s Resilient Rivers proposal.

What is Townsville’s experience after 18 months?

The Townsville City Deal was signed on December 9, 2016. It is a 15-year agreement.

Work has begun on stage two of the 25,000-seat $250 million North Queensland Stadium. It will be finished for the 2020 rugby league season. It is funded by the federal and state governments, and Townsville City Council.

The Queensland government has promised $250 million for new water supply for Townsville.

A business case for new Townsville Port facilities is almost finished and the Queensland government has pledged $75 million for port upgrade.

Townville mayor Jenny Hill said choosing the right projects was essential to make a City Deal effective.

“The City Deal provides a roadmap for delivery that breaks the political cycle so it is very important to choose the right projects or areas for reform that will make the biggest difference to a city or region,” Cr Hill said.

“All three levels of government also need to buy into the key priorities of the local area that are included in any City Deal.”

SEQ begins big push for a billion-dollar City Deal

Townsville Mayor Jenny Hill on top of Castle Hill with Townsville in the background.
Photo: supplied

SEQ City Deal – the background

  • May 2012Co-funding model idea began in United Kingdom.
  • June 2015: Queensland prepares its own case for City Deals after Ms Trad looked at the UK City Deals idea in Manchester.
  • 2016: Council of Mayors (SEQ), Queensland Property Council and the Queensland government put a plan together.
  • November 2016: Queensland Premier Annastacia Palaszczuk signed a memorandum of understanding with prime minister Malcolm Turnbull in November 2016 to develop “tailored City Deals” for Queensland.
  • February 2017: Ms Trad and Cr Quirk wrote to then-federal cities minister Angus Taylor, agreeing to a joint submission.
  • Late 2017: A Cities Transformation TaskForce established in Brisbane.
  • June 2018: Queensland’s major contractors called for a City Deal.

Source: brisbaneinvestor.com.au

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Where you can still invest by the water in QLD for less than $700k

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Where you can still invest by the water in QLD for less than $700k

James and Jasmine Campbell with their daughter, Pippa, love living by the water in Woody Point. Image: AAP/Steve Pohlner.Source:News Limited

IT’S unheard of in Sydney and a distant memory in Melbourne, but for under $700,000, it’s still possible to buy a house by the water near Brisbane.

In the sleepy beachside suburb of Margate, a four-bedroom house only a block back from the beach is up for grabs for offers over $599,000.

Down the road in nearby Scarborough, another four bedder just 200m from the water is available for $595,000 — little more than the cost of a Sydney car park.

Where you can still invest by the water in QLD for less than $700k

This house at 41 Palm Tree Ave, Scarborough, is for sale for $595,000.Source:Supplied

Where you can still invest by the water in QLD for less than $700k

This house at 41 Palm Tree Ave, Scarborough, is for sale.Source:Supplied

Even in the popular family holiday spot that is Coolum Beach, a cute three-bedroom pad is going for $695,000.

New data provided exclusively to The Courier-Mail by RiskWise Property Research has identified the 10 best suburbs by the water in southeast Queensland to invest in.

Woody Point, 25km north of Brisbane in the Moreton Bay region, is the top pick, with a median house price of $490,000, followed by the neighbouring suburbs of Margate and Scarborough.

Where you can still invest by the water in QLD for less than $700k

This house at 55 Duffield Rd, Margate, is available for offers over $599,000.Source:Supplied

Where you can still invest by the water in QLD for less than $700k

This house at 55 Duffield Rd, Margate, is close to the water.Source:Supplied

The coastal suburbs of Thorneside, Birkdale and Wellington Point, about 20km southeast of Brisbane, are also ripe for investment, according to RiskWise.

And what better time to scope these areas out for holiday homes than during school holidays.

RiskWise chief executive Doron Peleg said the suburbs were ranked based on affordability, proximity to water and distance from working hubs.

“Deception Bay is a great example because the prices there are significantly cheaper than what you see in alternative suburbs,” Mr Peleg said.

“Overall, anything that starts with a four or is below $500,000, when you get proximity to water at that price tag, it is extremely affordable.”

Mr Peleg said Coolum Beach was another good example because it was possible to work in Brisbane and commute.

“It’s also not far from Noosa, but a fraction of the price of Noosa Heads,” he said.

Where you can still invest by the water in QLD for less than $700k

This house at 3 Devon Ct, Coolum Beach, is on the market for $695,000.Source:Supplied

Where you can still invest by the water in QLD for less than $700k

Inside the house at 3 Devon Ct, Coolum Beach.Source:Supplied

Mr Peleg’s only advice to investors looking in these suburbs was to think long term.

“The only thing you need to do is to buy and hold because of the nature of the real estate market and transaction costs in Queensland,” he said.

“Regardless of these specific areas, southeast Queensland currently represents outstanding value.”

Where you can still invest by the water in QLD for less than $700k

REAL ESTATE: Sunset over the marina at Scarborough.Source:Supplied

James and Jasmine Campbell are selling their three-bedroom house at 1 Westbrook St, Woody Point, for just $485,000.

They bought the house almost six years ago as their first home and it has achieved solid capital growth in that time.

Where you can still invest by the water in QLD for less than $700k

James and Jasmine Campbell, with their daughter, Pippa, love living by the water in Woody Point. Image: AAP/Steve Pohlner.Source:News Limited

Mr Campbell said they loved being just 500m from the water and being able to stroll along the boardwalk of an afternoon with their two-year-old daughter, Pippa.

“The house is close enough that you still get that smell of the ocean,” he said.

Where you can still invest by the water in QLD for less than $700k

This three-bedroom house at 1 Westbrook St, Woody Point, is for sale for $485,000.Source:Supplied

Selling agent Brendan Philp of Abode Properties said Woody Point and Margate were becoming popular with owner-occupiers, either families, retirees or interstate buyers relocating from Sydney and Melbourne.

Mr Philp said the area’s sandy beaches and affordability — with the average house selling for around $500,000 — made it one of a kind.

“Geographically, you are 25 minutes to the airport, 30 minutes to Brisbane CBD, an hour to the Sunshine Coast — you can’t find another suburb for that sort of money,” he said.

“In Wynnum or Manly, you’re paying at least a third more.”

Where you can still invest by the water in QLD for less than $700k

The beach at Woody Point, which has been identified as one of Queensland’s top growth suburbs by the water for houses under $700,000.Source:Supplied

TOP 10 EMERGING WATERSIDE SUBURBS

Suburb Property type Region Median sale price

1. Woody Point House Moreton Bay $490,002

2. Margate House Moreton Bay $453,820

3. Scarborough House Moreton Bay $550,719

4. Thorneside House Brisbane – East $523,177

5. Birkdale House Brisbane – East $541,048

6. Wellington Point House Brisbane – East $589,185

7. Wynnum House Brisbane – East $639,622

8. Lota House Brisbane – East $635,082

9. Deception Bay House Moreton Bay $352,245

10. Coolum Beach House Sunshine Coast $637,984

(Source: RiskWise Property Research, CoreLogic)

Source: www.news.com.au

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