OWNER INFORMATION
Real Estate Queensland
From the September edition of the WEEKENDER:
New Home Demand
The HIA (Housing Institute of Australia) reports that despite a nominal fall in new home sales nationally - down 0.6 per cent for July - Queensland has seen considerable growth in the sector at 7.5 per cent.
South Australia and Western Australia recoded higher demand with 17.4 per cent and 10.5 per cent increases respectively, while both New South Wales and Victoria reported falls. "There's enough evidence to show that the alarm bells are ringing in some cities and regions, while the rest of Australia enjoys the renewed confidence of buyers who haven't been priced out of the market, and investors taking advantage of tight rental markets and high rent returns, " HIA's chief economist Simon Tennant says.
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Retail Rents
Brisbane recorded double-digit industrial rental growth over the 12 months to June 2005, according to research by Jones Lang LaSalle. Apparently the market has been buoyed by increased land values and construction costs with pre-lease rental growth of up to 12 per cent in Brisbane's south in the 12 months to June this year. It has also registered double-digit rental increases for existing prime properties. The drivers are strong tenant demand, a shortage of existing space and rising construction costs. The transport and storage industry has also dominated demand.
Mexican Move Up
Despite the elimination of the NSW vendor tax, REIQ (Real Estate Institute of Queensland) says most NSW buyers will still see the Sunshine State as a sounder investor option - with or without the unpopular property tax. "Queensland still presents fewer investment property tax imposts than buying in NSW," REIQ managing director, Don McKenzie says. The institute said it is likely many NSW investment property owners would see the removal of the vendor tax as an opportunity to sell their properties and reinvest in a higher growth environment such as Queensland.
Homehound Hot Tip:
Before home inspections, let as much natural light in as possible and keep lights or lamps switched on in the living areas.