The first of many breakthroughs in local government outsourcing of planning issues has occurred in the new Sustainable Planning Act for Queensland, albeit on a limited scale.
The Act came into effect throughout Queensland on 18 December 2009. For development applications which are “as of right” and for which technical assessment is clear cut, they will be categorised as 'compliance assessment'. Many code assessable development applications, which are deemed compliant assessment, will be able to be outsourced to a suitable qualified entity.
It is likely that Councils will soon call for nominations from Planning Consultants to become accredited qualified entities.
Sunday, January 17, 2010
Brisbane House Prices Recover to Pre-GFC Levels
The latest data from the Queensland Department of Natural Resources and Water confirms that (mean) average house prices in Brisbane have returned to their pre-GFC level.
Average house prices have recovered in the December 2009 half year to $560,000, which is 10 percent higher than the average of $511,223 recorded in the June 2009 half year.
The new data follows a fall of 10 percent, which occurred from the pre-GFC peak in December 2007 to the trough ending in June 2009. The fall in average house prices has now been matched by the recovery of similar magnitude.
However, sales volumes have not improved in the latest six month period and are still at their lowest levels since 1980.
This reflects the ‘credit squeeze’ for residential housing finance, despite the effects of the first home buyers grant. Credit continues to be a serious problem in housing and low sales volumes have a negative impact on associated industries, such as real estate agencies, removalists, valuers, solicitors, financers and the furniture/white goods/electrical sectors.
This blog is copyright to Midwood Queensland Investment Report.
Average house prices have recovered in the December 2009 half year to $560,000, which is 10 percent higher than the average of $511,223 recorded in the June 2009 half year.
The new data follows a fall of 10 percent, which occurred from the pre-GFC peak in December 2007 to the trough ending in June 2009. The fall in average house prices has now been matched by the recovery of similar magnitude.
However, sales volumes have not improved in the latest six month period and are still at their lowest levels since 1980.
This reflects the ‘credit squeeze’ for residential housing finance, despite the effects of the first home buyers grant. Credit continues to be a serious problem in housing and low sales volumes have a negative impact on associated industries, such as real estate agencies, removalists, valuers, solicitors, financers and the furniture/white goods/electrical sectors.
This blog is copyright to Midwood Queensland Investment Report.
Gold Coast House Prices Recover to Pre-GFC Levels
The latest data from the Queensland Department of Natural Resources and Water confirms that (mean) average house prices in the Gold Coast have returned to their pre-GFC level.
Data for 2,029 sales in the Gold Coast over the six months to December 2009 showed an average house price of $575,739, an increase of 7.6 percent over the lowest point in the GFC cycle of $534,924 recorded in the June 2009 half year.
The latest data is a positive sign that average Gold Coast house prices have recovered from the fall experienced during 2008 and into early 2009.
The previous high of $580,670 was recorded in the December 2007 half year and with the average now at $575,739, average prices have all but returned to their previous levels experienced in 2007.
But this is not so with sales volumes, which continue to wallow around the record low volumes experienced in the 1982-83 recession.
Low sales volumes reflect a general difficulty in purchasers being able to obtain finance, even with the Federal government’s first home buyer’s subsidy.
The impact on the local economy has been most severe on real estate agents, removalists, valuers, solicitors and financiers as well as the furniture and white goods/electrical industry, which revels in high property turnover.
Sales turnover is a better measure than prices as a means of monitoring the general health of the housing industry.
Data for 2,029 sales in the Gold Coast over the six months to December 2009 showed an average house price of $575,739, an increase of 7.6 percent over the lowest point in the GFC cycle of $534,924 recorded in the June 2009 half year.
The latest data is a positive sign that average Gold Coast house prices have recovered from the fall experienced during 2008 and into early 2009.
The previous high of $580,670 was recorded in the December 2007 half year and with the average now at $575,739, average prices have all but returned to their previous levels experienced in 2007.
But this is not so with sales volumes, which continue to wallow around the record low volumes experienced in the 1982-83 recession.
Low sales volumes reflect a general difficulty in purchasers being able to obtain finance, even with the Federal government’s first home buyer’s subsidy.
The impact on the local economy has been most severe on real estate agents, removalists, valuers, solicitors and financiers as well as the furniture and white goods/electrical industry, which revels in high property turnover.
Sales turnover is a better measure than prices as a means of monitoring the general health of the housing industry.
Wednesday, January 6, 2010
Queensland property: Projections for 2010
• The population in Queensland will grow by 110,000 in 2010, equivalent to 48,000 additional dwellings but we will only see 30,000 new dwellings constructed. This downturn in new dwelling commencements will affect employment and all ancillary industries such as finance, trades, white goods, electrical and furniture.
• Housing finance will be difficult to obtain and interest rates could rise a further 1.0% to 1.5% in the year.
• House prices will generally increase at less than the rate of inflation.
• Commercial property (except retail) will continue to perform poorly, with high vacancy rates and little or no capital growth.
• The regional areas of Toowoomba, westward to Chinchilla, Dalby, Argyle, and north to Hervey Bay, Gladstone and Rockhampton will perform better than the south-east in terms of price growth and dwelling construction.
• Housing finance will be difficult to obtain and interest rates could rise a further 1.0% to 1.5% in the year.
• House prices will generally increase at less than the rate of inflation.
• Commercial property (except retail) will continue to perform poorly, with high vacancy rates and little or no capital growth.
• The regional areas of Toowoomba, westward to Chinchilla, Dalby, Argyle, and north to Hervey Bay, Gladstone and Rockhampton will perform better than the south-east in terms of price growth and dwelling construction.
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