By Michelle Hele The Courier-Mail March 26, 2012 1:00AM
QUEENSLAND land values have dropped and transactions have plunged to their lowest levels in a decade, according to new figures to be released this week.
The Department of Environment and Resource Management will issue its state-wide land valuations on Wednesday.
Valuer-general Neil Bray will release his Market Movement report today, which gives a snapshot of the valuations of all types of land, including residential.
Speaking to The Courier-Mail before the release of the report, Mr Bray said Queensland land values had dropped 2.6 per cent, and the number of transactions was down 22 per cent on last year. Brisbane land values were down 0.6 per cent.
The valuations were down for the 58 rateable local government areas as at October 1, 2011.
By Michelle Hele The Courier-Mail March 26, 2012 1:00AM
QUEENSLAND land values have dropped and transactions have plunged to their lowest levels in a decade, according to new figures to be released this week.
The Department of Environment and Resource Management will issue its state-wide land valuations on Wednesday.
Valuer-general Neil Bray will release his Market Movement report today, which gives a snapshot of the valuations of all types of land, including residential.
Speaking to The Courier-Mail before the release of the report, Mr Bray said Queensland land values had dropped 2.6 per cent, and the number of transactions was down 22 per cent on last year. Brisbane land values were down 0.6 per cent.
The valuations were down for the 58 rateable local government areas as at October 1, 2011.
Am I reading the article incorrectly. I thought that it said that " transactions have plunged to their lowest levels in a decade" and not that values hade tumbled to a 10 year low.
There is a difference.
Any expressed market opinion is my own and is not to be taken as financial advice
Am I reading the article incorrectly. I thought that it said that " transactions have plunged to their lowest levels in a decade" and not that values hade tumbled to a 10 year low.
There is a difference.
Most likely the case. My friend's 135k property bought in 2004 is valued at 330k by his bank in a certain Brisbane bub.
Am I reading the article incorrectly. I thought that it said that " transactions have plunged to their lowest levels in a decade" and not that values hade tumbled to a 10 year low.
There is a difference.
Most likely the case. My friend's 135k property bought in 2004 is valued at 330k by his bank in a certain Brisbane bub.
Well I think that we have to accept that valuations have fallen, but the headline is misleading.
The biggest falls are in the high end. That's where the steals are, but still across the board values have fallen, although that doesn't always have a big impact on median values because of the way that medians are collected.
Any expressed market opinion is my own and is not to be taken as financial advice
Is the Queensland property market turning a corner? New figures suggest that property prices in the Sunshine State have finally bottomed out, and are bouncing back strongly in some areas.
According to the latest quarterly data from the Real Estate Institute of Queensland (REIQ), the Queensland property market has turned around and posted positive results for the first time in 18 months.
The March quarter median house price report from the REIQ found property prices across the majority of the state had increased, with sales numbers also showing significant improvement in some areas.
“Three months ago when we analysed the December quarter data it seemed to indicate we had reached the bottom of the market because prices were stabilising,” said REIQ CEO Anton Kardash.
“We predicted at the time that the March quarter data would be even more positive and it certainly is that. Property prices have grown in most areas and some regions have also experienced substantial increases in sales activity, which is a hugely welcome turn around.
“And while the March quarter figures contain plenty of good news, perhaps the best piece of news is some very healthy results in our tourism centres, which have struggled more than most over the past two years.”
The best performer out of all the major regions surveyed by the REIQ was the Fraser Coast, showing median house price growth of 7.8% to hit $290,000 over the March quarter. The REIQ also noted that the numbers of preliminary house sales were also up in the area by an impressive 42%.
Agents in the area have put its renaissance down to a busy Christmas period, as well as the area’s affordability.
Cairns saw a welcome comeback in its capital growth rates, seeing median house price growth of 4.5%. Its median house price now sits at $350,000, according to REIQ figures, and local agents believe that there is excellent value for money to be found in the area – especially at the upper end of the market.
“It is wonderful that Queensland’s tourism centres are starting to experience improving market conditions,” said REIQ chairman Pamela Bennett. “Fraser Coast and Cairns have not had much time in the sun over recent times so to see their markets starting to turn a corner are surely a sign of more positive results in the months ahead.”
Looking at Queensland’s booming resource regions, it appears that the Gladstone market has hit a flat patch, recording quarterly growth of -0.6%. Few investors will argue with its annual growth rate of 16.5%, however.
“Historically, it has been our resource centres that have led the charge during Queensland property cycles, closely followed by Brisbane, then our tourism centres and this pattern does seem to be repeating,” said Kardash.
“It’s still too early to tell whether this renewed confidence is here to stay, but a number of economic indicators, as well as lower interest rates, mean the future of our property market is certainly looking up.”
Brisbane saw its median house price rise by 1.2% over the March quarter to hit $505,000, according to the REIQ.
Am I reading the article incorrectly. I thought that it said that " transactions have plunged to their lowest levels in a decade" and not that values hade tumbled to a 10 year low.
There is a difference.
No you are not reading incorrectly Mr Fraser. I watched hot 'hot property ' last night. They featured a property at mermaid beach. It was a strat titled unit or villafrom memory , anyway , it was purchased 8 years ago for 330k. The auction started with lots of people yet no bid, eventually the agent put in a vendor bid of 260k and then nobody bid after that so it was passed in on a vendor bid of 260k after being purchased 8 years ago. They should of jumped on this Mr Fraser or be priced out of the market FOREVER. Little did the vendor know that soon he will be lucky to get 130k for it.
No you are not reading incorrectly Mr Fraser. I watched hot 'hot property ' last night. They featured a property at mermaid beach. It was a strat titled unit or villafrom memory , anyway , it was purchased 8 years ago for 330k. The auction started with lots of people yet no bid, eventually the agent put in a vendor bid of 260k and then nobody bid after that so it was passed in on a vendor bid of 260k after being purchased 8 years ago. They should of jumped on this Mr Fraser or be priced out of the market FOREVER. Little did the vendor know that soon he will be lucky to get 130k for it.
Ted/Crazy dave, you really are a bit of a knob You could just as easily point to Moronbah, Backwater or Happy rock and say prices are soaring Mermaid Beach is not QLD, it is but one speck of it and most people do not want to live there so a price drop is of no use to them.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Ted/Crazy dave, you really are a bit of a knob You could just as easily point to Moronbah, Backwater or Happy rock and say prices are soaring Mermaid Beach is not QLD, it is but one speck of it and most people do not want to live there so a price drop is of no use to them.
I know a couple of people who moved up there over the last five or so years , may have been mermaid waters. So people wanted to live there once but not anymore to the point that the vendor bid was was around 75% of the sale price of eight years ago and there was no genuine bids at all . Not even 261k offered , would even look cheap to me if I did not know what was really going on and how much further it will fall. So with that it is quite obvious that the herd has been awoken , I would also assume you too would be waking from your slumber about now. You should stick to depot hill Mr Castle you big end investor you. With your centerlink funded tennants , and massive rental increases I can see you going far. You know what Ive got and what I owe, you also know that I have no need to brag there Mr Castle . This is an area where you and I are completely different and answers a few questions to me and others on this forum as to your true meaning and worth. Just something for you to have a very good think about Mr Castle. You might like to think about this also Mike, as to intelligent people such as myself you have answered some questions that we ask ourselves. A weathy and humble man has no need to bragg about what he has. A wealthy and humble man finds people who need to brag about what they have are either not wealthly or just a dickhead or both. Just something else to think about
You should stick to depot hill Mr Castle you big end investor you. With your centerlink funded tennants , and massive rental increases I can see you going far.
My Depot Hill Properties are but a very small % of what I have as are my centerlink funded tenants. All are massively CF+ All have stable long term tenants in place All have have untapped development potential (Multiple adjoining properties on double blocks with side street access and rear street access)
IMHO better these style of CF+ properties with the risk spread across several than pooling the same coin together to buy one very expensive CF- property with no upside and hurting if its ever vacant.
Quote:
just a dickhead
I agree ted, you are just a dickhead
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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