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

Rivers Utd Get N10m Boost as Eunisell Unveils Players’ Jersey

first_imgAhead of this weekend’s kickoff of the Nigeria Professional Football League home game against El Kanemi Warriors of Maiduguri, last seasons’ runners up, Rivers United have been boosted with a sum of ten million naira by the club’s sponsor-Eunisell.Speaking at the unveiling of Rivers United players jersey at the Renaissance Lagos Ikeja Hotel on Thursday, the GMD of Eunisell Limited, Mr. Chika Ikenga, said the club was pleased to be associating with Rivers United and that the club’s performances so far has really encouraged the company. “They play good football and we hope they would win the league this season. Eunisell wants to be part of their history and that is one of the reasons for our partnering with them. We are pleased the development in the Nigerian league. The League Management Company, LMC, has done significantly well for the growth of the league,” Ikenga said.In appreciation of Rivers United stellar performance in the Super Four, Eunisell is rewarding the Port Harcourt based club with 10 million naira.Meanwhile, the General Manager of Rivers United, Okey Kpalukwu has promised not to let the their sponsors down, saying that the club would not only win the league this season but also do well in the continent.In a chat with THISDAY, Rivers United left full back; Ali Chiwendu said the players have been well motivated ahead of the clash against EI Kanemi.“We are aware that El Kanemi is a very strong team, but we’ve been well motivated by the management of the club and our fitness level is very high and the resolve to start the league well will see us through the game,” Chiwendu said.He however lamented last season’s narrow league loss to Enugu Rangers, but took solace in the fact that they are a younger team when compare to the Flying Antelopes.“We deserved to win the title last season, but all the same we did well considering that the team was barely seven months old then,” he said.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Garrett Richards lead solid pitching effort in Angels’ victory

first_img Newsroom GuidelinesNews TipsContact UsReport an Error THE GAME: Seven Angels pitchers combined to hold the San Diego Padres to four hits in a 2-1 victory on Sunday at Tempe Diablo Stadium. The Angels are 2-1 this spring.PITCHING REPORT: Right-hander Garrett Richards worked two innings, allowing just a solo homer to Austin Hedges. He struck out three. Richards has missed most of the past two years with injuries, but he said he feels good now, the result of an offseason regimen in which he combined strength and flexibility training. … Left-hander John Lamb, who did not pitch in spring training last year because he was rehabbing from a back injury, pitched two scoreless innings. “Those were two big innings for him,” Manager Mike Scioscia said. “Hopefully he’ll get confidence every time he goes out there.” Right-hander Luke Bard, a Rule 5 pick, worked a perfect inning. He has retired all six batters he’s faced this spring, with two strikeouts. “Luke has a good arm, another power arm,” Scioscia said. “He’s been throwing some real nice breaking balls.”HITTING REPORT: Luis Valbuena singled, his third hit in two starts. He was in the lineup at leadoff, but that’s not an indication that he will hit there in the regular season. In spring training, lineups are sometimes constructed to get players more at-bats earlier in the game. … Rene Rivera, who hit second, singled and doubled. … Jefry Marte singled in the third, driving the tying run in the third inning. The go-ahead run then scored on a passed ball.DEFENSE REPORT: Second baseman Jose Fernandez made a sliding stop of a ground ball. Fernandez is one of the candidates for the last bench spot. … Right fielder Rymer Liriano made a diving catch. … Catcher Carlos Perez made a pickoff attempt to first and threw the ball into right field. UP NEXT: Angels (Tyler Skaggs) vs. Padres (Jordan Lyles), noon PT, Peoria Sports Complex, Fox Sports West, KLAA/830last_img read more