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

Valida names new CEO as Zakostelsky pursues politics

first_imgThe former chief executive of Siemens Pensionskasse is to take over as chairman of Valida Vorsorge Management, after Andreas Zakostelsky announced he would leave to focus on his career in politics. Stefan Eberhartinger, former head of Siemens Pensionskasse – renamed Valida Industrie Pensionskasse upon its takeover by Valida in 2012 – has been named chairman of Valida Vorsorge Management, the holding for Valida’s Pensionskasse, Vorsorgekasse and consultancy.Zakostelsky has stepped down to pursue his political career, following his election to Austria’s lower house in 2013.In a press release, Raiffeisen Bank, one of the main shareholders in the Valida Group alongside the insurer Uniqa, said Zakostelsky would continue to focus on the “strategic development of retirement provision in Austria”. He will also stay on as head of Austria’s pension fund association FVPK and remain “special envoy”, helping Valida with strategic questions regarding retirement.Last year, Eberhartinger was appointed to the board of the Valida Holding together with Albert Gaubitzer to work alongside Zakostelsky and tackle the administrative clean-up of joining several pension funds bought by Valida over the last years.From now, Eberhartinger will cover asset management, consulting, product development and membership management, while Gaubitzer will be responsible for operations, IT, risk management and finances as the only two board members at the Valida Holding.The seats Zakostelsky is vacating as chariman on the supervisory boards of the three Valida Holding subsidiaries – the Pensionskasse, the Vorsorgekasse and the consultancy – would be “filled by summer”, Raiffeisen said.  For 2014, Valida Pensionskasse reported above average returns.last_img read more

Joe Maddon doesn’t want Angels pitchers taking aim at the Astros

first_img Angels’ Shohei Ohtani spending downtime working in outfield Reliever Luke Bard was recalled to take Sandoval’s roster spot.TEXAS TIMEThe Angels-Astros game starts at 6:10 p.m. Friday because of an MLB guideline for 2020 designed to help with the TV audiences in the American League West, which is the only division that has teams two time zones apart.When Texas teams play on the West Coast, the games start at least an hour earlier than normal, and when West Coast teams play in Texas, the night games start an hour later than they normally would. The idea is to make it easier for the road team’s fans to watch the games in prime time. Stassi, who also had hip surgery after the season, reworked his swing with hitting coaches Jeremy Reed and John Mallee. Maddon said now he doesn’t see a hitter who looks like he had a .167 average in 2019.“Well, it’s completely different than what he’s used to because he’s closed, he’s short and direct to the ball, they’ve gotten rid of him laying the bat down, now he’s more direct, the barrel is staying up above his hands, and wow,” Maddon said. “The other day, he fouled off a ball straight back at Oakland and it was an A-hack. He’s taken nothing but A-hacks. All I know is what I’m seeing right now, I like a lot.”McNAMARA DIESJohn McNamara, who managed the Angels and was better known for managing the Boston Red Sox during the 1986 World Series, died Tuesday, his family told the Associated Press. McNamara was 88. The cause of death was not known.McNamara managed the Angels in 1983-84, his fourth of six managerial jobs. The Angels were 161-191 in his two years.He also managed the Oakland A’s, San Diego Padres and Cincinnati Reds prior to taking over the Angels. After the Angels, he managed the Red Sox and Cleveland Indians.He is best known for being the Red Sox manager when they lost the 1986 World Series, despite having a lead in the ninth inning of Game 6 with a chance to clinch. That was the game in which Bill Buckner famously made an error that allowed the New York Mets to score the winning run.SANDOVAL DOWNThe Angels optioned Patrick Sandoval to their reserve squad in Long Beach a day after he pitched four innings in a victory over the Seattle Mariners.The Angels have an off day Monday, so they can skip Sandoval’s spot in the rotation. Also, Julio Teheran could be ready to rejoin the rotation as soon as next Tuesday, which would knock Sandoval down to No. 7 on the depth chart.Related Articles Kelly was suspended for eight games, which is more than 10% of the 60-game season. Kelly has appealed the suspension.The Angels are lined up to have Matt Andriese, Griffin Canning and Shohei Ohtani start the three games against the Astros.BIG IMPROVEMENTMax Stassi has three hits already this season, which is the same as he had in 42 at-bats with the Angels after he was acquired in a July 31 trade last year.Stassi, who hit a three-run homer Tuesday, said he retooled his swing over the winter to simplify it, a decision that was easy as as looking up at the scoreboard and seeing his batting average.“I mean, last year was terrible offensively,” Stassi said. “I mean, there’s no other way to put it. I battled a few things physically. That kind of turned into mentally and then my swing mechanically was off.” ANAHEIM — The Astros are coming to Angel Stadium this weekend for their first games against the Angels since news of their sign-stealing scandal broke last year.Despite the pandemic and the lack of fans to boo the Astros, major-league players clearly haven’t forgotten, a point made obvious when Dodgers reliever Joe Kelly incited a bench-clearing incident by throwing behind Alex Bregman on Tuesday.Angels Manager Joe Maddon said he’s aware some Angels pitchers might have hard feelings, but he’s encouraged them to think carefully about how they react.“We’ve talked about playing baseball, straight up,” Maddon said Wednesday. “That’s what I’m anticipating. That’s all I’m looking for. What happened yesterday, if you were immediately impacted by (the sign stealing), I could get it a little bit. But then you saw the commissioner’s response, regarding what happened. So you got to choose the method you want to incorporate, and I would prefer that we just go play baseball.” Angels’ poor pitching spoils an Albert Pujols milestone center_img Jose Suarez’s rocky start sinks Angels in loss to Astros Angels offense breaks out to split doubleheader with Astros Angels’ Mike Trout working on his defense, thanks to Twitter Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more