House prices bounce back stronger despite disaster

first_imgBrisbane has seen a surge in development since 2011, much of which has centred around the riverfront suburbs. Picture: AAP/ Ric Frearson.In Brisbane, it had undertaken a study early this year that found 19 of the 20 suburbs affected by the 2011 floods outperformed the rest of the city.Five areas did so well they punched way above the city’s five-year growth rates of 26.7 per cent to deliver upwards of a 40 per cent rise in prices. Brisbane’s three-for-one home deal within reach of the city QLD to defy ‘mini credit crunch’ set to hit Sydney and Melbourne More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours ago Inner-city house sells for $2.7m“This is because these high-flood areas are well located on the river which is in high demand. Also, statistically floods like those in 2011 are a once-in-a-50-year event and that makes these homes a risk people are willing to accept.”He compared that to the two most impacted areas of Cyclone Yasi — Cassowary Coast and Hinchbrook located about 1225km from the Brisbane CBD — which saw 7.4 per cent and -1.9 per cent respectively, lower than capital growth in the rest of Queensland of 7.5 per cent in the five-year period. There was a huge emotional toll on homeowners during the Brisbane 2011 floods, but the market recovered for those able to hold on. Picture: Russell ShakespeareHe said some of that impact was also off weakness in the closest major city, Townsville, which had -5.7 per cent capital growth in the period.The study had found similar popularity-based results out of flood-affected Gippsland, Bass Coast, Baw Baw and Cardinia — located on average 78km from the Melbourne CBD — where the average capital growth in the past five years was 44.6 per cent, beating the rest of Victoria’s benchmark of 31.3 per cent.In comparison, around 126km from the CBD, houses in Latrobe and South Gippsland — which were also impacted by floodwaters — averaged a relatively low capital growth rate of 19 per cent in the same period.So too the Victorian Black Saturday bushfires where suburbs that were closer to the Melbourne CBD like Murrindindi and Nillumbik (around 50km away) saw an average 55.6 per cent growth — a much stronger performance than Indigo and Wellington (around 210km from the CBD) which saw 29.3 per cent. FOLLOW SOPHIE FOSTER ON FACEBOOK The Brisbane 2011 floods turned waterfront properties into islands. Picture: Russell ShakespeareHOUSE price growth is so watertight in some parts of flood-affected Brisbane, it can take whatever’s thrown at it, come rain, hail or high water.Market figures show rampaging city housing demand was the driving force behind why even disaster-hit areas that run the risk of future devastation still see house prices bounce back strongly.Riskwise Property Research chief executive Doron Peleg, whose firm studied the property price impacts of the 2011 Brisbane floods and 2011 Cyclone Yasi along with the 2012 Gippsland Flooding and the 2009 Black Saturday Victoria Bushfires, said it was all about popularity.“It really depends on the popularity of the areas. We found each of the natural disaster areas that were closer to the CBD delivered higher capital growth than areas that were a greater distance from the CBD. This is despite any unpredictable future impact of floods or fire.”center_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:56Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:56 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p512p512p400p400p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenJuly 21: Aleisha Dawson talks property03:57last_img read more

Proud Phobian: Bernard Avle is Hearts of Oak’s latest signing

first_imgElvis Herman Hesse, Chapters Committee Chairman for Accra Hearts of Oak and Communications Director, Opare Addo earlier today [5th June 2020] presented the General Manager of Citi FM and Citi TV, Mr. Bernard Avle with a replica jersey of the club.The club officials who described Mr. Avle as a “proud Phobian” added that Mr. Bernard Avle has  “truly demonstrated his love and passion for the club”The Football club in a post on Twitter also described the host of Citi FM’s Breakfast show and Citi TV’s Point of View show as a “die in the wool” Phobian.Hearts of Oak today made a presentation to a die in the wool Phobian, Bernard Avle, host of Citi FM’s Morning Show and, he truly demonstrated his love and passion for the club. Bernard is indeed a proud Phobian.🔴💛🔵#AHOSC pic.twitter.com/ATHWLJPFU1— Phobians (@HeartsOfOakGH) June 5, 2020The gesture by the club has since ignited a footballing conversation on social media site, Twitter with many including musician Manifest, joining in to show their support for the club.Phoooobia 🏆 https://t.co/1OFQh2FiE4— M.anifest – #WeNoDeyHear (@manifestive) June 5, 2020Bernard Avle earlier this year in February declared his love for the rainbow team on Citi FM’s breakfast show, leading to a conversation that ignited a football fanbase discussion on the country’s most listened to English morning radio show.A true super excited @benkoku receives a branded jersey from Hearts of Oak..Aloski.🔴💛🔵#AHOSC pic.twitter.com/BgnXgsJqDJ— Phobians (@HeartsOfOakGH) June 5, 2020Mr. Bernard Avle in a post on Facebook and twitter, also thanked the club for the gesture with a quote from the club’s famous tagline, “until the bones are rotten”Elvis Herman Hesse, the Chapters Committee Chairman for @HeartsOfOakGH and Comms Director Opare Addo surprised me with a customised jersey today.Never say die until the bones are rotten! Phoooobia! pic.twitter.com/vEWeR9SvVC— Bernard Avle (@benkoku) June 5, 2020Accra Hearts of OakAccra Hearts of Oak Sporting Club is a professional sports club based in Accra (Greater Accra), Ghana.The club was founded on 11 November 1911. Hearts of Oak won their first major match in 1922 when Sir Gordon Guggisberg, Governor of the Gold Coast, founded the Accra Football League. Hearts won 6 out of 12 seasons in this league.In 1956, Hearts joined the Ghanaian football league and have flourished since.In the year 2000, Hearts of Oak won the Ghana FA cup, the Ghana Premier League and for the first time in their history the CAF Champions League.This was the most successful year in the Clubs’ history.–By: Jude Duncan Tags: Bernard AvleHearts of Oaklast_img read more