Brisbane house prices have hit a record high

first_imgBrisbane’s property market performed well in the past quarter with median house prices reaching a record high. Picture: AAP/ Ric FrearsonBRISBANE’S house prices have hit a record high with new figures revealing the median had now hit $670,000.While the property market continued to cool in southern states, new figures released by the Real Estate Institute of Queensland showed the median house price within the Brisbane local government area was 3.1 per cent higher in the March quarter.REIQ CEO Antonia Mercorella said the growth demonstrated “admirable resilience’’ in the local market.She said the price rise was buoyed by steady population growth and strong demand and a lack of new listings. LANDMARK HOME HITS SALE HIGH Stock on market was down to just 6.1 per cent — the lowest in the state.As a result Ms Mercorella said buyers had to act fast if they wanted to snare a property with days on market now at just 32 days.Matt Lancashire of Ray White New Farm, said the past quarter had been a strong one for the Brisbane market“Our last quarter was the most positive quarter in this financial year for us,’’ he said.Mr Lancashire said the unit market in the inner city was starting to fire again and importantly Brisbane’s property market including the luxury end, was seen as really good value.He said in the past couple of months there had been a huge amount of interstate interest in the market. SUN AND SAVINGS LURE SOUTHERN BUYERS The report said the outlook for the house market in the Brisbane local government area remained solid while parts of the unit market continued to face difficult conditions because of oversupply.“We expect to see greater equilibrium between supply and demand over the next 12 to 24 months,’’ it said.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus18 hours agoREIQ chairman Peter Brewer said the figures showed that Queensland was a “safe haven’’ for property investment.“Interstate migration is still strong, that helps give us stability around prices as well,’’ he said.Mr Brewer said with pledges for spending on infrastructure through Federal and State governments on things like Queensland roads, property was becoming more attractive here.“Overall it is a pretty healthy report for Queensland compared to other states,’’ he said.Mr Brewer said growth in Brisbane and Queensland was “steady, nice, comfortable and sensible’’ and that wasn’t a bad way to be.“Real estate is still the number one spectator sport and people still watch it with passion and we are very, very, safe.’’Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 13:43Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -13:43 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, 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 Rate1xFullscreenPrestige property with Elizabeth Tilley13:44Other council areas outside of the Brisbane area also performed well during the quarter. The Logan local government area delivered one of the strongest performances during the quarter with its median house price up 4 per cent to $395,000.The report found the “lifestyle markets’’ of the Gold Coast and Sunshine Coast had continued to drive the growth of sales and rentals.The Gold Coast median house price was down by 0.3 per cent in the quarter, but grew by 6 per cent in the past 12 months to $620,000, the highest growth in the state, while on the Sunshine Coast the median house price rose by 2.3 per cent for the quarter and 5.2 per cent for the past 12 months to $576,250.last_img read more

How to snag a bargain before the year ends

first_imgRay White New Farm auctioneer Haesley Cush in action. Saturday June 30, 2018. (AAP image, John Gass)The last week of the year is always a big time in the real estate industry. It’s not big in terms of the number of transactions, the number of opens or even the number of auctions.It’s big because everyone who hasn’t bought or sold, and wants to, gets their last minute “shopping” done. The years residual buyers and sellers can be very keen to get a contract wrapped up and under the tree before Christmas. Auctioneer Haesley Cush I recall many Christmas Eves being spent driving between buyers and sellers, getting their last initials on contracts, and then seeing their elation at the closing of the deal before heading in to the end of year break.That added incentive usually means opportunity. More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoIf you’re the person chasing the sale, you will likely move a little more due to your willingness to close the deal.I have watched many owners benefit from a determined buyer and, likewise, I have witnessed buyers get a “Christmas bargain” because they were able to present a clean contract to a seller who was equally keen to close out a stress-free sale. Generic Sold Home/For Sale Sign. ThinkstockMy advice to those people in the market is to be clear on your position. In every deal there are two separate lines of negotiation — one is the price and the other are the terms. If the timing is important then move on your price but if it’s not, don’t be bullied by the Christmas deadline and hold your line on price.All parties need to review the market conditions, their financial position and consider the alternatives if a sale is not made. This should be the driving force. Christmas is just a date on the calendar and it will be replaced by New Years, and New Years will be replaced by Australia Day. From there it’s Valentine’s Day, International Women’s Day and then Easter. There’s always something around the corner and having a plan and a clear position will ensure you walk away from a sale with a smile on your face. Haesley Cush is a licensed real estate agent and an auctioneer for Ray White.last_img read more

Tee off within minutes from this Clontarf home

first_imgThe home at 35 Bradley Rd, Clontarf.This modern house comes with dedicated space for the golf buggy and direct golf course access.Jeannie and Colin Gower have owned the property for about 18 years and built their dream home on the block 10 years ago. “We bulldozed the old worker’s cottage and built the house of our dreams,” Mr Gower said. “We went through three sets of plans before we got it right. We were over the moon with the finished product. The kitchen at 35 Bradley Rd, Clontarf. Picture: supplied“We thought this would be our forever home so we put the best of everything in it.”Mr Gower said he loved the house so much he couldn’t pick a favourite space but he did particularly like that nearly every room had a view of the swimming pool or Redcliffe Golf Course. “We’ve been members of the golf club for over 30 years,” he said. “We absolutely bought the block for its location. It’s in a great spot overlooking a pond, between the third and eighth tee, so we don’t have people teeing off at our back door.”The house is set over two levels with an open-plan living, dining and kitchen area on the ground floor opening to a patio over-looking the golf course. The formal living and dining space opens to the poolside courtyard. More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe pool area at 35 Bradley Rd, Clontarf. Picture: supplied.There is also a laundry, powder room, bathroom and guest room on this level, along with a double-car garage at the front and a golf buggy garage at the back. “I can drive straight out on to the golf course and the club house is a two-minute buggy ride away,” Mr Gower said. Upstairs, the spacious master bedroom has a walk-in wardrobe, ensuite and a private balcony. The two remaining bedrooms have built-in wardrobes and there is a family bathroom. The Gowers are selling to make a sea or tree change.last_img read more

SMD Delivers Two Sub Rescue Specification Atom ROVs to JFD

first_imgSoil Machine Dynamics (SMD) has delivered two 1000m Atom Mk1 work-class remotely operated vehicle (ROV) systems to JFD.The Atom systems, equipped with ultra-compact launch and recovery systems (LARS) and SMD purpose-designed control and workshop cabins, provide a complete turnkey solution which is essential for JFD in providing its customer, the Indian Navy, with reliable equipment for on time critical missions.Optimised for submarine rescue operations, each Atom system carries three emergency life support pods for delivery to a submarine forming the intervention element of the 3rd generation submarine rescue system.Ben Sharples, India project director, JFD, said: “At JFD, we believe in the power of improvement and the importance of collaboration and we have been pleased to work together with SMD on developing these new technologies. SMD’s Atom ROV systems play an important part in our new 3rd generation submarine rescue systems, and in advancing our ultimate aims of driving down time to first intervention, protecting life at sea, and improving the standards of safety for submariners around the world.”The small size and lightweight design of Atom was an important factor for JFD in the selection process, as the entire system must be air transportable for rapid response. During factory acceptance, SMD were able to demonstrate Atom’s thrust capability to JFD representatives at their facility in North Shields, Newcastle using its 64 cubic metre in-house test tank.Mark Collins, managing director ROV Systems, stated: “This has been a significant project for SMD that has seen us deliver two submarine rescue specification Atom ROV systems successfully to a high profile client in the defence sector. Significantly it shows that SMD can provide optimised work class ROV power and capability in a very small package that is light enough for air transportation and fast deployment. Ease of use and reliability were also key requirements which SMD are able to demonstrate through a long track record in a diverse range of sectors. We look forward to continuing our new partnership with JFD to support their current and future needs in the defence underwater arena.”last_img read more

COSCO Shipping Holdings Raises USD 1.1 Bn

first_imgHong Kong-listed COSCO SHIPPING Holdings Co., flagship of China Ocean Shipping Company, has raised USD 1.1 billion (RMB  7.7 billion) from a private share offering. The net proceeds were lower from the initial plan under which COSCO Shipping Holdings was aiming to collect RMB 15 billion (USD 2.1 billion).The private share offering raised interest from nine private investors.After completion of the proposed non-public issuance of A shares, COSCO directly holds 4.5 billion of A shares and indirectly holds 87 million of H shares through Peaktrade Investments Ltd., a wholly-owned subsidiary of COSCO SHIPPING (Hong Kong) Co. As such COSCO holds 4.6 billion shares in total, representing 37.89% of the enlarged total issued share capital in the company, and is the direct controlling shareholder.As informed earlier, the company plans to use to net proceeds to fund 20 boxships under construction, six of which would have a capacity of over 21,200 TEU.last_img read more

Highlights of the Week

first_imgTSHD Samuel de Champlain Passes Sea TrialsAfter a long conversion period, the trailing suction hopper dredger Samuel de Champlain sailed from Damen shipyard in Dunkirk last Friday, June 14th, to the Loire estuary where she arrived on Sunday, June 16th, to start dredging operations. British Ports Association: Spotlight on Open-Loop Scrubbers in PortsThe words ‘port infrastructure’ usually conjure up images of quay walls, breakwaters, roads and cranes. But some of the most critical infrastructure to port operations is below the water – berths and navigational channels maintained at safe depths, according to Mark Simmonds, British Ports Association’s Head of Policy and External Affairs. Dredging Today brings you an overview of the most popular stories from the past week (June 17-23, 2019). TSHD Vox Amalia to Take Part in Bacton SchemeJust a few weeks ago, Van Oord and Royal Haskoning DHV, working as part of Team Van Oord, have started the execution of a Sand Motor in Bacton.center_img Ravestein Lays Keel for Backhoe Dredger SarbA keel laying ceremony of the backhoe dredger Sarb, to be built for National Marine Dredging Company (NMDC), took place at Ravestein B.V. in the Netherlands on June 14, 2019. TSHD Bonny River Joins DEME’s FleetDEME’s multi-year fleet investment program continues with the arrival of the new generation trailing suction hopper dredger ‘Bonny River’.last_img read more

Energi Coast Welcomes CfD Round 3 Offshore Wind Winners

first_imgEnergi Coast is well-placed to support the development of the 1.4GW Sofia and the 3.6GW Dogger Bank projects selected in the Contracts for Difference (CfD) Allocation Round 3, this North East of England’s offshore wind cluster said.In total, six UK offshore wind projects have won CfD, including Sofia, Dogger Bank Teesside A, Dogger Bank Creyke Beck A, and Dogger Bank Cryeke Beck B, all located off the North East of England coast.Sofia is being developed by Innogy Renewables UK, and Dogger Bank projects by a partnership between Equinor and SSE.The developments secured strike prices of between GBP 39.65/MWh and GBP 41.61/MWh, which is nearly 30 percent lower compared to the strike prices in the second CfD auction in 2017.“The UK supply chain has matured to become ideally-placed to support the offshore wind developments that have been awarded Contracts for Difference,” George Rafferty, Chief Executive of UK energy sector business development experts NOF, said.“Offshore wind is now a central part of a balanced UK energy mix and the companies within the NOF membership and its wider network for diversified and evolved to contribute to the delivery of these projects through the application of innovative technology-led solutions and effective working practices.”North East England’s offshore wind cluster is well-placed to support these developments, Energi Coast said, adding that the cluster has matured to deliver the majority of what is required for an offshore wind farm, both at design, construction, installation and operations & maintenance phase. This expertise ranges from foundations, cables, installation, ports and logistics, training and specialist subsea services.James Ritchie, Chair of Energi Coast and CEO at Tekmar Group. Source: Energi Coast“This is a significant step forward to the UK offshore wind industry, which presents tangible opportunities for North East England’s cluster of supply chain companies that have the experience and expertise to support their delivery and operation,” James Ritchie, Chair of Energi Coast and CEO at Tekmar Group plc, said.“We do not underestimate the challenges this price reduction will create, but I am confident our cluster will be cost-competitive to support the delivery of these projects and we hope developers will recognise the benefit of using a proven, local supply chain. The innovation that companies from our cluster have brought to the industry will enable these developers to deliver sustainable offshore wind generation and ensure the sector can play its role in decarbonising the UK energy system.”last_img read more

Eco Wave Power Kicks Off Jaffa Port Project Assembly Phase

first_imgEco Wave Power has started the assembly phase of the hydraulic land-located conversion unit for its first grid connected installation in Israel. This will be the first time that wave energy will connect to the national electric grid in Israel and a special Feed in Tariff (FIT) will be determined for such purpose.“We are making significant progress towards our first grid connected installation in Israel with the commencement of the assembly works. This is our second grid connected installation in the world,” said Inna Braverman, CEO of Eco Wave Power.The hydraulic works are expected to be finalized within 30 days. Once hydraulic works are finalized, Siemens will begin the electric installation works. Once the land located conversion unit is fully assembled, EWP will perform final testing by means of wave simulation. This implies simulating different working pressures to examine the proper system performance. When wave simulation testing is completed successfully, the conversion unit will be transferred to Jaffa Port, where it will be connected to 10 large scale floaters.Eco Wave Power is expected to initially install 1-2 large scale floaters, and after that install the full amount. The floaters are the largest in size that have been installed by EWP to date.In parallel, Eco Wave Power’s engineering team and the EDF Renewables IL engineering team are working on enhancing automation, control and monitoring system and jointly handling the required remaining licensing and the securing of the designated wave energy FIT.“In the management and development of this project, EWP has demonstrated agility and efficiency. We have finalized planning, engineering and the procurement phase for the installation of the power station within a short time-frame, and we are already commencing the exciting phase of assembly. I am very proud of our engineering department and our highly professional, top of the line subcontractors,” says Inna Braverman.The Jaffa Port power station is partially co-funded by the Ministry of Energy of Israel and by EDF Renewables IL, as part of the Joint venture agreement entered between the parties.last_img read more

Lochmaddy Pier Contract Goes to L&M Keating

first_imgComhairle nan Eilean Siar, Scotland, has awarded a £10.1m contract to marine, civil engineering and building contractor, L&M Keating Ltd to carry out upgrade works at Lochmaddy Pier in North Uist.Under the contract, Keating will be responsible for completing all civil engineering works for the harbor upgrade project, including pier strengthening and extension, upgraded fendering, land reclamation and seabed dredging.The infrastructure upgrade work at Lochmaddy is part of the Skye Triangle Infrastructure Project, which involves significant harbor upgrades at the three ports at Tarbert, Lochmaddy and Uig.The work is designed to improve and modernize harbor facilities and prepare the way for new vessels.Minister for Energy, Connectivity and the Islands Paul Wheelhouse, said: “I am very pleased to see the planned upgrade of Lochmaddy Pier moving forward with the award of this contract, following the recent award of the contract for construction works at Tarbert on the Isle of Harris. Work can now begin on the construction phase of the project, which will deliver an improved experience for the passengers who use these important services.”The work will begin this January and is expected to be completed in spring 2021.last_img read more

Hopper Dredger River Thames Passes Sea Trials

first_img<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>DEME Group’s latest addition to the fleet, the 2.300m³ trailing suction hopper dredger (TSHD) River Thames has successfully completed its sea trials in Southeast Asia.According to the company, the newbuild was successfully put to the test near the coast of Batam, Indonesia.The vessel is designed to maintain sea and inland waterways, as well as perform land reclamation. It is equipped with the latest electronic system to improve positioning, sounding and execution of dredging work.To minimize environmental impact during dredging, the vessel is equipped with the latest innovation in the field of overflow – the IHC Plumigator.The 2,300m³ River Thames is the first of two new trailing suction hopper dredgers joining DEME’s fleet in 2020.last_img read more