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

Iowa farmers cope with turbulent weather, troubled trade talks

first_imgDES MOINES, Iowa – The U.S. is coming off the wettest 12 months on record, and Iowa farmers are being encouraged to boost conservation practices to help them adapt.Too much rain has kept many farmers out of their fields this spring, at a time when U.S. farm income already is projected to drop 45% below a 2013 high. Agronomy professor Gene Takle at Iowa State University said Iowa’s weather is significantly affected by the Gulf of Mexico jet stream, which will bring excess moisture to the state for the foreseeable future.“Physics is very clear that this jet is getting stronger,” Takle said. “And so it’s a natural consequence that our climate in the Midwest should be linked to increasing rainfall.”The National Oceanic and Atmospheric Administration said the period between May 2018 and April 2019 was the wettest 12 months since record-keeping began in 1895. The Center for Rural Affairs has encouraged farmers to adopt preventive measures, such as wetlands, grassed waterways and cover crops.Iowa has experienced excessive rainfall almost every year since 2010, according to Rural Affairs policy associate Kayla Bergman. She said preventative measures such as cover crops can provide a work-around and improve soil health to better hold the moisture.“If you do not hay or graze that cover crop this year, so that the soil is not washing away throughout the rest of the spring and summer, even though it’s not a cash crop, you just have something on the ground,” Bergman said.The federal government has promised financial aid to farmers harmed by the trade disputes, but to qualify they had to plant a crop. Takle said that puts many between a rock and a hard place.“Not only will it be whether they should plant corn or soybeans because the markets are fluctuating on the basis of the tariffs, but then if they get a supplemental payment they might plant for the wrong reason – they might plant for the rebate – and that’s not good farming. And they don’t like that either,” Take said.To date, corn planting is 68% complete, in contrast to 97% at this time last year; while only 40% of soybeans are planted compared to 87% this time a year ago.last_img read more

Manchester City back on top as Spurs party in style

first_imgFireworks above Spurs new stadiumLondon, United Kingdom | AFP | Manchester City brushed aside struggling Cardiff to leapfrog Liverpool at the top of the Premier League on Wednesday as Tottenham opened their glittering stadium in style.City’s 2-0 victory over Cardiff took Pep Guardiola’s quadruple-chasers to 80 points — one clear of Jurgen Klopp’s Liverpool, with both sides having six matches to go.Tottenham marked their long-delayed move into their state-of-the-art new home with a 2-0 win against Crystal Palace, while Chelsea thumped Brighton 3-0.Kevin De Bruyne put City ahead in the sixth minute at the Etihad Stadium, firing in from a tight angle and Leroy Sane doubled the lead for the defending champions with a sharp finish just before half-time.Guardiola, whose team take on Brighton at Wembley in the FA Cup semi-final on Saturday, made seven changes to his starting line-up, handing teenager Phil Foden his first Premier League start.Despite the win, Guardiola said his side, who had 11 shots on target, needed to be more clinical.“We played really well,” he said. “We started really well. A magnificent goal from Kevin De Bruyne. Unfortunately we missed a lot of chances, we need to score more goals.“Phil Foden played excellent. He did everything, arriving in the right positions with the right tempo. He always has chances, has a sense of goal. He’s ready, we know it, to play any game in any position.”The defeat leaves Neil Warnock’s Cardiff third from bottom, five points from safety, with only relegated Huddersfield and Fulham below them.Spurs, who were on the edge of the title race for a large chunk of the season, started their match at home to Palace in fourth spot, behind north London rivals Arsenal.– Spurs back on winning track –But Son Heung-min and Christian Eriksen made sure the celebrations did not fall flat, scoring second-half goals that enabled Spurs to end a wretched run of four defeats in five league games.Spurs boss Mauricio Pochettino said it was a “special night” as they re-energised their bid to finish in the top four.“The emotion was amazing from the beginning,” he told Sky Sports. Share on: WhatsApp “To win was so important to us. Today we touched the glory. Now we need to touch the glory of lifting trophies. Now is the start of a chapter. We close one chapter and open another chapter and bring victory to our fans.”Chelsea boss Maurizio Sarri made multiple changes from the team that started Sunday’s tense 2-1 win at Cardiff, with Eden Hazard and N’Golo Kante back in the starting XI.But the main talking point was a first Premier League start for 18-year-old Callum Hudson-Odoi, who has already impressed for Gareth Southgate’s young England side.Sarri has angered Chelsea fans with his refusal to start the winger and they vented their feelings at Cardiff on Sunday.Hudson-Odoi was in the thick of the action at Stamford Bridge, setting up Olivier Giroud for just his second Premier League goal of the season in the first half.Hazard doubled Chelsea’s lead in the 60th minute and midfielder Ruben Loftus-Cheek put the game beyond doubt just three minutes later.Sarri said his team had returned to the good form they showed at the start of the season and praised Hudson-Odoi.“Callum played very well and defended very well,” he said. “He has improved during the season a lot. He’s ready to play 90 minutes in very important matches.”City’s victory against Cardiff was their eighth consecutive Premier League win and puts them back in pole position in the Premier League.With the League Cup already in the bag, City are struggling to quell growing talk of a historic quadruple even as Guardiola attempts to keep his players’ feet on the ground.After this weekend’s match against Brighton at Wembley, they will take on Tottenham in the first leg of the Champions League quarter-final, with a maximum of 13 games to make history.The race for the top four is tight, with just three points separating third-placed Spurs from Manchester United, in sixth position.Ole Gunnar Solskjaer’s team suffered their second Premier League defeat in three games on Tuesday, losing 2-1 to Wolves.last_img read more