CoreLogic: Brisbane property selling for big profits

first_imgKyle Hughes is selling the house he has renovated atEast Brisbane. Picture: Mark Cranitch.BRISBANE’S property market has chalked up more profitable sales than any other region in Queensland with the latest figures revealing nine in ten sales were for more than owners originally paid.According to CoreLogic’s latest Pain and Gain report, 92.8 per cent of property sales in Brisbane were for a profit in the December quarter and the median gross profit was $175,000.This was up from 92.4 per cent of sales in the previous quarter.Of the 7.2 per cent of sellers who sold for less than they originally paid the median loss was $26,000. CLICK here to get the latest real estate news direct to your inbox CoreLogic analyst Cameron Kusher said there was a pretty low proportion of houses reselling at a loss in Brisbane, 4.1 per cent, but for units there was quite a high proportion of 21 per cent. “That is an interesting trend that is kind of emerging, a lot of unit development is going on so we are starting to see the underperformance there,’’ he said. The Redland LGA where this home at13 Artic St, Thornlands is listed for sale had a high percentage of profit making sales. Picture: realestate.com.au“But houses are still pretty sought after, particularly in the Brisbane and the Redlands Council areas, that’s where you are seeing the lowest proportion of resales at a loss overall.’Kyle Hughes and Margarita Escartin hope the results are good news for the upcoming sale of their East Brisbane home.The couple bought the home at 69 Gresham St, about ten years ago and have now listed it for sale through Henry Hodge of McGrath Estate Agents.The post war home has five bedrooms and is on a 706sq m block about 2km from the Brisbane CBD.Mr Hughes said the location was what had initially appealed to them because it was close to where their sons’ school.Over the years they have renovated it and completed the work about six months ago before deciding it was time for a change and to buy in northern New South Wales.“When we bought all of the structural work had been done,’’ Ms Escartin saidMr Hughes said they thought it was a good time to be offering the home for sale now and it was good that so many Brisbane homes were achieving profitable results.“We have seen some high sales in the area around here,’’ he said. Toowoomba LGA had the highest level of profit making sales in Queensland. This home at88 Taylor St, Newtown in Toowoomba is listed for sale. Picture: realestate.com.auMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours ago THESE markets are swell locations Mr Kusher said other council areas were improving as well.Across the broader southeast Queensland region, Toowoomba had the lowest level of properties selling for a loss, 6.5 per cent, followed by Redland 7 per cent, The highest levels of loss were recorded in the Lockyer Valley, 19.5 per cent, Scenic Rim 15.5 per cent and Somerset 14.3 per cent.Some of Queensland’s regional markets fared substantially worse. Mackay continued to hold the honour of the highest proportion of loss making sales with more than half, 58.4 per cent, of properties, selling for less than owners originally paid.Fitzroy in Queensland had a 44.3 per cent level of loss making sales and Townsville 42.6 per cent.“I think it is going to take quite a while to turn them around significantly,’’ Mr Kusher said“If you look at Mackay for example, it did actually pull back a little bit, the percentage of loss making sales over the quarter. Same in Townsville, same in Fitzroy but they are still very elevated and it is going to take those markets a long time to improve because anyone that has bought over the last four or five years at least is going to see the value of their property significantly lower than what they purchased it for and that is ultimately the challenge.’’ LGA % OF LOSS MAKING SALES AND MEDIAN PROFIT Brisbane 92.8% – $175,000Gold Coast 89.9% – $117,000 Ipswich 88.2% – $70,500Lockyer Valley 80.5%- $64,500Logan 92.4% – $93,000Moreton Bay 92.2% – $80,000 Redland 93% – $100,000Scenic Rim 84.5% – $73,250 Somerset 85.7% – $54,750Sunshine Coast 90.7% – $102,000 Toowoomba 93.5% – $74,000last_img read more

RECOVER Lake Okeechobee Measure Approved

first_imgThe RECOVER Lake Okeechobee Stage Performance Measure used to evaluate regional scenarios for the Comprehensive Everglades Restoration Plan (CERP) has been approved by the RECOVER (Restoration, Coordination & Verification) Executive Committee.RECOVER (REstoration COordination & VERification) is a multi-agency team of scientists, modelers, planners and resource specialists who organize and apply scientific and technical information in ways that are essential in supporting the objectives of the Comprehensive Everglades Restoration Plan (CERP).The RECOVER team conducts scientific and technical evaluations and assessments for improving CERP’s ability to restore, preserve and protect the south Florida ecosystem while providing for the region’s other water-related needs.“The RECOVER Lake Okeechobee Stage Performance Measure that represents the conclusions of scientists and planners charged with researching and applying scientific information to restore and protect the Everglades, has been approved by the RECOVER Executive Committee,” said Angie Dunn, Jacksonville District’s Environmental Branch Chief.As restoration of the Everglades progresses, it is important to be able to estimate the ecological response to restoration projects and the program as a whole. Performance measures are tools to allow managers to evaluate the impact and effectiveness of the CERP.last_img read more

Ambris replaces Kyle Hope in Windies Test squad for NZ tour

first_imgST JOHN’S, Antigua, (CMC) – Vincentian stroke-maker Sunil Ambris has been rewarded for his recent prolific scoring and named in a West Indies 15-man squad for the two-Test tour of New Zealand starting later this month.The 24-year-old, who played a single One-Day International in the five-match series against England last September, is the only new face in the unit, replacing Kyle Hope who failed in successive series against England and Zimbabwe recently.Ambris smashed 608 runs at an average of 43 for Windward Islands Volcanoes in the last first class season and was one of the leading scorers in the Regional Super50 earlier this year when he pummeled 423 runs at an average of 70.Last month, he tipped the scales heavily in his favour with two hundreds in the three-match “Test” series against the touring Sri Lanka A, as he emerged the leading batsman in the series with 278 runs at an average of 55.Sunil has replaced Kyle Hope in the squad, and this is on the basis of his consistent performances across formats and his outstanding returns for the Windies ‘A’ team in the ‘Test’ series against Sri Lanka ‘A’,” chief selector Courtney Browne said.“This type of consistency is very welcomed by the panel.”Hope has struggled in international cricket, gathering just 41 runs in six Test innings on a difficult tour of England.The 28-year-old right-hander also failed to produce against minnows Zimbabwe, managing just 60 runs in three innings.“Kyle is encouraged to return to the first-class championship and turn in the strong performances his talent suggests he can deliver,” Browne said.Apart from Hope, selectors have kept faith with the unit that lost 2-1 to England last August but impressed in winning the Caribbean side their first Test on English soil in 17 years with the stunning result at Headingley.They completed a 1-0 victory over Zimbabwe last week, winning the first Test by 117 runs before being held to a draw in the final match, and Browne said this series win was underpinned by a strong collective effort.“The panel congratulates the players and the entire team management unit on the series victory in Zimbabwe,” the former Test wicketkeeper said.“It was a strong team effort and highlighted by those players that did not do as well as expected on the recent tour of England, playing critical roles in the team’s success.“Their success augurs well for the selection process and the philosophy of continuity which has underpinned our selection for the tour of New Zealand, and not the chopping and changing mentality.”West Indies will undergo a camp in Brisbane starting next week before travelling to New Zealand where they open that tour with a three-day match against New Zealand A starting November 25.The first Test bowls off December 1 at the Basin Reserve in Wellington, with the second starting eight days later at Seddon Park in Hamilton.SQUAD – Jason Holder (captain), Kraigg Brathwaite (vice-captain), Sunil Ambris, Devendra Bishoo, Jermaine Blackwood, Roston Chase, Miguel Cummins, Shane Dowrich, Shannon Gabriel, Shimron Hetmyer, Shai Hope, Alzarri Joseph, Kieran Powell, Raymon Reifer, Kemar Roach.last_img read more