Sunday, May 30, 2010
Saturday, May 29, 2010
Monday, May 24, 2010
Saturday, May 15, 2010
- Apt 1705, 2 bed with roof top terrace listed at $750,000 being sold by the original developer FKP
- Apt 3102, 2 bed, renting at $460, listed at $430,000 (sold for $350,000 in 2006)
- Apt 2303, 2 bed, 5th floor, listed at $470,000 (purchased off the plan for $440,000 in 2004)
"Ray White South Brisbane principal Dean Yesberg said 17 out of 54 properties sold on the day. “We had a large number of buyers and a positive response but the number of sales was down on previous years,” Mr Yesberg said. “Certainly the message we got out of the day is that owners need to bring their expectations back into line with the marketplace and what buyers are prepared to pay. People still want to buy but recent interest rate rises and current uncertainty in the world economy is starting to make people nervous. “It was a successful day but it was a tough day at the office.” Despite the lower than average number of sales on the day, Mr Yesberg expected more properties to be sold over the next week.
Sunday, May 9, 2010
My favourite floorplan in Skyline (30 Macrossan Street) is the G2 floorplan. It is a 3 bed apartment, and most have 2 carparks. There is a big difference in views from lower floors (which have a good city street view towards the Marriott Hotel, and some river glimpses between Admiralty Quays and Admiralty One) and the higher floors, that have a river view over Admiralty One.
- Apt 1205, 1 bed, 1 bath, no car - sold for $350,000
- Apt 1902, 2 bed, 2 bath, 1 car, river views - sold for $660,000
- Apt 3205, 2 bed, 1 bath, 1 car - sold for $520,000
- Apt 1903, 2 bed, 2 bath, 1 car - sold for $460,000
- Apt 2809, 1 bed, 1 bath, 1 car passed in at auction - auctioneer's bid of $395,000
Saturday, May 8, 2010
Thursday, May 6, 2010
"Alderley Square is a village-style, mixed-use community inspired development set to reinvigorate the heart of one of Brisbane's most established suburbs. It combines the finest of residential apartment living, a thriving retail centre and a bustling commercial precinct.
The 241 residential apartments comprise a mixture of studio, 1, 2 and 3 bedroom residences over two towers and a terrace homes complex.
Both owner-occupiers and investors alike will appreciate the open plan designed apartments with generous sized balconies to take advantage of the prevailing breezes. Breathtaking views to the CBD, North-East and over the mountain will significantly enhance the 'Queensland lifestyle' feel of Alderley Square."
Wednesday, May 5, 2010
Monday, May 3, 2010
Brisbane City Council has fined The Oaks Group for unlawfully leasing residential carparks to commuters after an investigation which City News understands lasted several months.
According to its website, The Oaks Group arranges short-term bookings for eight unit blocks in the CBD. Car parking spaces meant for long-term residents have instead been leased to inner-city workers for up to $5000 a year. Councillor David Hinchliffe (Central) welcomed the penalty and said he believed the practice was widespread and was “potentially just the tip of the iceberg”.
He said he believed senior managers in both the private and public sectors had paid for carparks made available in contravention of the Council’s planning approvals. “If you’re operating a commercial carpark, then you need to be zoned and approved for a commercial carpark,” he said. “One carparking space can generate easily around $5000 a year in revenue for the company, 200 car spaces are worth $1 million in revenue.
“My understanding is that apartments are being rented out without carparks so that the company can lease out the carparks separately to commuters, encouraging more people to drive to work and park and adding to congestion.”
Brisbane City Council failed to answer several questions about the practice before City News’ deadline. When contacted for comment, an Oaks spokeswoman replied: “We are not at liberty to respond to that matter.”
An investigation by the Office of Fair Trading has resulted in a Kangaroo Point-based resident letting agent and his company being banned from holding licences under the Property Agents and Motor Dealers Act 2000 for ten years after ripping off unit owners.
Minister for Fair Trading Peter Lawlor said Leigh Gregory Craig, who was also fined $2500, was found guilty by the Queensland Civil and Administrative Tribunal of failing to follow his clients’ instructions and producing false invoices. His company Brass Properties No 1 Pty Ltd was also banned for 10 years and fined $3,000.
“Mr Craig first came to the attention of Fair Trading officers after they received a complaint from a unit owner who was falsely charged a $132 fee for the retrieval of a set of car keys accidentally dropped down a lift shaft,” Mr Lawlor said. “Following an investigation, Mr Craig was also found to have advertised Bridgeport Apartments for short-term letting which flies in the face of body corporate by-laws which impose a minimum period of six months.
“He deliberately misled unit owners by failing to disclose the higher than usual fees he was charging renters, which at times was double the normal amount. This additional income was not passed on to the unit owners. This type of behaviour has no place in Queensland’s real estate industry. Queenslanders deserve to know they are dealing with reputable and licensed agents,” he said.
"This decision is a clear reminder to the real estate industry to act responsibly. If an agent chooses to breach the law by deceiving their customers, they risk the loss of their licence, reputation and livelihood. The legislation is there to protect businesses and clients, and must be complied with. Licensees caught doing the wrong thing will be penalised."
Mr Johnston said the exclusive riverfront development at Tennyson Reach had exceeded everyone’s expectations in the current market. "The fact it’s sold so well in a market affected by the GFC is testament to the quality of the product and the prime location," he said.
The Tennyson Reach sales ranged up to $2.845 million for luxury apartments on the riverfront, located close to the new Tennyson Tennis Centre. Mr Johnson said that apart from families with old money, 2010 had seen the return of the investor – and they’re not all mum and dad investors with $600,000 to spend on a three-bed, one-bath inner-city renter.
An increasing number of multi-million dollar sales have been to investors, such as one riverfront apartment Mr Johnston sold for nearly $3 million last month. The investor is planning on renting the apartment out.
Ms Havig said foreign investors and expats were also present in the prestige market.
"They feel that the market is still going to rise considerably and want to get in before it does," she said."
Sunday, May 2, 2010
The second part – and given equal weight in the review – is a national land tax of 1 per cent applying to all land regardless of use. Absolutely no mention of that in either leaks or today’s statement.
The Henry Review also recommends a 40 per cent discount to individuals for net interest income, residential rent, capital gains and interest related to listed shares. Also leaked, but rejected."
Saturday, May 1, 2010
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