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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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Interstate migrants are moving to QLD … but they’re not coming to Brisbane

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Interstate migrants are moving to QLD

Less than 5 per cent of interstate migrants during the 2016-2017 financial year settled in Brisbane, according to data from the ABS. Photo: Glenn Hunt

Interstate migration to Queensland is booming but analysis shows most new residents are bypassing Brisbane for other regions in the Sunshine State.

Buyers’ agency Propertyology analysed ABS data, which showed there were 17,246 internal migrations to Queensland in 2016-17. But out of those, only 846 relocated to Brisbane, which equates to less than 5 per cent.

Propertyology managing director Simon Pressley said the lion’s share went to the Gold Coast, Sunshine Coast, Moreton Bay, Cairns, Ipswich and the Scenic Rim.

Interstate migrants are moving to QLD

Interstate migration to Queensland is strong but ABS figures reveal most of the new residents are relocating to regions outside of Brisbane, such as the Gold Coast.

“We’ve read a lot about interstate migration to Queensland lately and it’s been growing each year, which is great,” he said.

“The thing is, people automatically think Queensland means Brisbane but when you actually look closely at the numbers, they tell a very different story.”

As a proportion of total population growth over 2016-17, the biggest beneficiaries of interstate migration were Tasmania (22.5 per cent) and Queensland (21.9 per cent).

Interstate migrants are moving to QLD

The Sunshine Coast has had an influx of interstate migrants. Photo: Mike Swaine

House prices in the regions with the most internal migrations have mainly increased — house prices on the Sunshine and Gold Coasts have increased by 7.9 per cent and 3.3 per cent respectively over the past 12 months — although Mr Pressley said the correlation between population growth and house price growth was often overstated.

“I know logically it makes sense — if an area has a big surge in population, house prices should go up — but there’s much more to it than that,” he said.

“Jobs growth is a lot more important than population growth, so is wage growth, [and] affordability is also extremely important.”

Interstate migrants are moving to QLD

Moreton Bay’s affordable property prices and relaxed bayside lifestyle are drawing new residents from interstate. Photo: Ray White Redcliffe

REIQ Gold Coast zone chair Andrew Henderson said each of those factors was connected and all had contributed to the Gold Coast’s house price success in recent years.

“Our local economy is strong but it’s also changed. We’re no longer solely reliant on the tourism industry. The diversity of our job offering has changed,” he said.

“With new infrastructure like universities and hospitals, we’ve got people moving here from interstate into jobs who would have never been able to move here 10, 20 years ago.

“So the age of the people we’ve got moving here has also changed. We’ve always had a lot of retirees but we’ve noticed a surge in people in their 20s, 30s and 40s – people moving their whole families up here. Around Mermaid Waters and Clear Island Waters there’s a really strong southern presence.”

Andrew Campbell of Ray White Redcliffe said the influx of interstate migrants buying up locally in the Moreton Bay region had become apparent more recently.

“We noticed a dip in the interstaters for a while but recently they’ve started to come back and it’s about affordability. All the properties around that median price are really moving so quickly,” he said.

Domain Group figures show the median house price in Moreton Bay is $456,000.

“There’s a lot of first-home buyers who fly up here for the weekend from Sydney. They know they can’t afford to buy there so they’re moving here because they see you can buy a house for under $500,000, get the lifestyle and still only have to drive 40 minutes to work in Brisbane,” Mr Campbell said.

But Mr Pressley said interstate migrants were being “pushed” to Queensland, rather “pulled” as they were during the mining boom.

“People have always wanted to come to Queensland because of the good lifestyle, weather and affordable housing,” he said.

“In the past they came for those things but also because we created more jobs year after year than everyone else. Now, we’re not dragging here through job growth, they’re coming here by default.

“To me, that’s why interstate migration hasn’t translated into property prices yet … and that’s why only minimal people have gone to Brisbane.

“I anticipate that in the next 12 months we’re going to see another really strong year of interstate migration into Queensland; if our economy improves, then it could translate to property prices for Brisbane and all over Queensland. Overall though, this is a good news story for Queensland and Brisbane as well. It’s looking positive.”

Source: goldcoastinvestor.com.au

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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Andrew Galloway is selling his investment property in Loganlea, which has been identified as one of Queensland’s most affordable growth suburbs. Image: AAP/John Gass.Source:News Limited

THESE are the best performing cheapie suburbs in Queensland. Find out which areas buyers on a budget should be targeting.

QUEENSLAND’S best growth suburbs for buyers on a budget are in lifestyle locations and affordable hot spots in Brisbane’s backyard, a new report has revealed.

For an investment property under $500,000 and with good capital growth prospects, look no further than Palm Beach on the Gold Coast, Noosaville on the Sunshine Coast and Loganlea, south of Brisbane, where values have increased by up to 20 per cent in 12 months.

The Top Affordable Suburbs Report, released by researcher CoreLogic, identifies suburbs where property values are below half a million dollars and have shown strong capital growth.

These suburbs are good targets for entry-level buyers, offering affordable real estate, improving infrastructure and strong track records that suggest ongoing strength.

Palm Beach holds the number one spot as the most affordable for capital growth in the state, according to the report.

Unit values in the beachside enclave have jumped 20.2 per cent in the past 12 months and more than 52 per cent in five years to a $471,758 median.

But you can still snap up a two-bedroom apartment a few streets back from the beach there for $379,000.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the apartment at 3/2 Brooke Ave, Palm Beach.Source:Supplied

After Palm Beach, the second most affordable growth suburb in the state is Noosaville on the Sunshine Coast, where unit values have gained more than 14 per cent in the past year to reach $486,468.

Alexandra Headland is also in the top 10 list compiled by CoreLogic, with units in the beachside suburb increasing in value by more than 12 per cent in a year.

But you can still get a two-bedroom unit with ocean views in the suburb for $429,000.

GOLD MINE FOUND IN BRISBANE BACKYARD

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom unit in Camfield St, Alexandra Headland, is available for $429,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This Alexandra Headland apartment is for sale for $429,000.Source:Supplied

CoreLogic senior research analyst Cameron Kusher said first home buyers were still active in Queensland and the more affordable end of the market was not facing the same pressures as the more expensive suburbs, which explained why suburbs like Loganlea, Ripley and Jimboomba were performing well.

“We are finding the lower end of the housing market is the higher value stock — even in Brisbane,” he said.

“We might not see the same gains over the next 12 months or three years, but there’s still going to be demand in these affordable markets.”

The latest CoreLogic home value figures reveal a strengthening of affordable and lifestyle locations, particularly on the Sunshine Coast, which recorded a 5.5 per cent increase in home values in the past financial year.

HOME FIT FOR HARRY AND MEGHAN

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Waterfront properties at Witta Circle in Noosa Heads on the Sunshine Coast.Source:News Corp Australia

Mr Kusher said the Gold Coast housing market was starting to cool off, but demand was still strong for the Sunshine Coast.

“These people from Sydney and Melbourne who want to buy a holiday property are looking at these areas and seeing pretty good value,” Mr Kusher said.

“I think that’s where the buyers are coming from.”

In Loganlea, about 25km south of Brisbane, house values have increased more than 14 per cent in the past year to a still very affordable $391,469.

Andrew Galloway is selling his investment property, which is on the market for just $339,000.

The four-bedroom, two-bathroom brick house at 10 Starling St, Loganlea, has been returning about $345 a week in rent.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This four-bedroom house at 10 Starling St, Loganlea, is on the market for just $339,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the house at 10 Starling St, Loganlea.Source:Supplied

Mr Galloway said the property had recorded solid capital growth in the past 11 years he had owned it and he had decided to take advantage of that.

“I think it’s achieved the capital gain it’s going to achieve in the time frame I’m going to have it,” he said.

Mr Galloway said he had noticed gentrification in and around the street in the past decade, which had made it more appealing.

Selling agent Pamela Anemaat of Raine & Horne Beenleigh said there had been an increase in large blocks in the suburb being subdivided by developers offering house and land packages, which had helped generate interest, particularly from first home buyers.

Mrs Anemaat said Loganlea was also popular suburb for investors because it was a high rental area and still so affordable.

“It is a feast for southern buyers, and they are moving up here and purchasing up here because they just can’t afford to buy a new home down there,” she said.

QLD’S 10 BEST PERFORMING AFFORDABLE SUBURBS

Suburb Property type Median value Value change Value change

12 mths 5 yrs

1. Palm Beach Units $471,758 20.2% 52.2%

2. Noosaville Units $486,468 14.4% 36.9%

3. Loganlea Houses $391,469 14.3% 43.8%

4. Mudgeeraba Units $399,637 13% 37.8%

5. Alexandra Headland Units $397,297 12% 36.6%

6. Ningi Houses $458,469 9.2% 11%

7. Jimboomba Houses $494,933 9.1% 22.1%

8. Ripley Houses $391,736 8.7% 23.9%

9. Elanora Units $372,760 8.6% 29.7%

10. Narangba Houses $493,418 8.3% 26.9%

(Source: CoreLogic, based on data to March 2018)

Source: brisbaneinvestor.com.au

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