Development

Bunnings reveals plans to open at Yawalpah Road in Pimpama

BUNNINGS has announced plans to open up a new centre in the Gold Coast’s northern suburbs.

The hardware chain today confirmed it hopes to submit a development application for a new warehouse in Pimpama, one of the Gold Coast’s fastest growing suburbs.

According to Garry James, acting General Manager of Property at Bunnings, the proposed site is located on Yawalpah Road.

“Developer Baycrown will submit a development application for a new Bunnings Warehouse in Pimpama,” Mr James said.

SUBSCRIBE TO THE BULLETIN: $5 A MONTH FOR THE FIRST THREE MONTHS

MORE IN NEWS

On September 15 a driver of a Nissan Qashqai has lost control and driven into a house on Kallaroo Crescent. Picture: Queensland Police Service
Driver allegedly flees after ploughing car into Coast home
Jake Bailey Tilden, 18, leaves the Southport Magistrates Court.
Rampant masturbator was high on Xanax

The new Bunnings is planned for a site on Yawalpah Road in Pimpama.

MORE NEWS

Dollar for dollar: Gold Coast private schools compared

Man critical after ute crashes during police chase

New police station to be built at Pimpama

FROM OUR PARTNERS

Opinions you can’t ignore. Watch Alan Jones 8pm Tues & Wed, Sky News. For more.

According to the company the development would represent a $36 million investment.

The site is planned to span 14,500 square metres with car parking for more than 380 cars.

Once operational the development could create up to 190 new jobs for local residents.

“We look forward to working with our developer and the relevant authorities throughout the development application process,” Mr James said.

New Coomera high school officially named

Education Minister Grace Grace has today announced ‘Foxwell State Secondary College’ as the official name of the new $64 million high school opening in Coomera in 2020.

Ms Grace said the name had been decided following extensive consultation with the local community.

“This state-of-the-art high school is located on Foxwell Road, which was named in honour of the Foxwell family who were important pioneers of the Coomera community, so it’s a fitting choice,” Ms Grace said.

“This is an exciting time for the Coomera community with the new school able to cater for up to 250 year 7 students in 2020.

“Stage One will include junior classrooms, a covered lunch area, sports centre and an oval.

“I’m looking forward to seeing the first students walk through the gates of Foxwell State Secondary College on day one of the 2020 school year.”

Foundation Principal Kym Amor said she was over the moon that the school now had an official title.

“I am very pleased to have found a name that has such widespread community support and that does not conflict with any other school names in Queensland,” Mrs Amor said.

“From face-to-face conversations to online engagement, the community’s involvement in this process has been an absolute stand out, and I am grateful for the support and enthusiasm.

“I believe the name accurately reflects the unique identity of the school while remaining respectful to the local community and location in which it stands.”

Mrs Amor said enrolments would open from the start of Term 3 (July 15).

“Now that we have an official name, we are able to move forward with designing uniforms, our logo, school colours, and many other pieces of the puzzle will start to fall into place.”

Ms Grace said contractor FK Gardner & Sons are making plenty of progress on the site.

“The ground floor concrete slabs have been poured for the admin and general learning buildings,” she said.

“Construction of level one of these buildings will start soon, as the main buildings start to visually come out of the ground.

“The construction of the school is supporting 170 local jobs which is great for the Gold Coast economy.”

Foxwell State Secondary College is one of eight new state schools opening across Queensland next year, including Fortitude Valley State Secondary College; new secondary schools at Calliope, Mango Hill, Yarrabilba and Ripley Valley; a new primary school in Ripley Valley and a new special school in Caboolture.

How long can a fixed term lease run for

With more and more Queenslanders renting for longer, there is growing interest in more secure and sustainable tenancies that meet the needs of both tenants and property owners.

Data from the Residential Tenancies Authority (RTA) indicates the median length of tenancies for houses – which account for half of Queensland’s rented dwellings – has increased from 15 months to 17.5 months over the past five years.

It’s common practice for property managers/owners to offer six-month, fixed term tenancies, but the RTA encourages tenants and property managers/owners to discuss the proposed length of the tenancy and the type of agreement they are entering into to ensure the tenancy is tailored to meet their needs.

Tenants should consider the length of tenancy they want and their ability to commit to the proposed length before signing any agreement. A longer tenancy provides the opportunity and stability to settle into routine with school, friends and family, whereas a shorter agreement will offer the flexibility to move if circumstances change.

Keep in mind that the tenancy agreement is a legally-binding document, so there may be consequences for ending an agreement early.

For property owners, a fixed term agreement with specific start and end dates can ensure a steady stream of income and allow them to plan further ahead. In some situations, signing a periodic agreement with a definitive start date and no end date may be a more suitable idea to keep options open with regards to renting or selling their property. A periodic agreement may provide flexibility for everyone.

The RTA has a tenant checklist to help tenants navigate and initiate conversations and negotiations around terms of the proposed agreement, the type of agreement and the length of tenancy on offer.

Remember that open and honest communication is crucial between tenants, property managers and property owners. Working together and considering each others’ needs and wants will contribute to a positive relationship and pave the way for secure and sustainable tenancies.

Queensland to rank among best state markets in 2019

Queensland’s housing markets are expected to rank among the best performing across Australia during 2019 as they have the key factors that drive growth – liveability, affordability, booming infrastructure and enhanced economic prospects.

The Sunshine State leads the nation when it comes to confidence in residential property, as the gears shift from recovery to rising prices.

The NAB Residential Property Index recently tipped Queensland house prices will grow the fastest of the nation over the next two years.

The survey of more than 300 property professionals confirmed rising sentiment around the Queensland markets. And these property professionals also saw Queensland leading the way when it comes to rental growth.

South East Queensland is tipped to be the prime beneficiary of Sydney and Melbourne’s property slowdown, with the state possibly set to return to its place as Australia’s No 1 destination for interstate migration, as more families and downsizers from the southern cities cash-in for a lifestyle in the sun.

2018 saw strong price growth across Queensland, from suburbs of Brisbane to the coastal localities.

Economic growth and jobs now assisting the property market’s performance as Queensland emerges from the shadow of the mining downturn.

It is the value gap between the East coast capitals that makes the move compelling for many.

The value gap is the largest it has ever been between Brisbane and Melbourne and the largest in 15 years with Sydney, according to CoreLogic.

A typical house in Brisbane is around $393,000 cheaper than Sydney and $227,000 cheaper than Melbourne, with Brisbane’s median sitting at $542,000.

Observers suggest this affordability, coupled with positive economic signs, means Queensland is primed for future growth.

The increasing opportunity to work remotely, having set up a home business, or taking up a new job in Queensland is a do-able option.

Brisbane’s median house price sits at new highs, after posting a 2.3 percent increase in the September quarter, with the Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella saying the strength of growth proved that Queensland real estate was a good investment and could be relied upon to deliver capital growth.

“While other markets around the country are struggling in the face of tightened lending criteria and cooling investor appetite, the southeast corner of Queensland continues to deliver steady, sustainable growth,” Mercorella said.

“Queensland’s economy is proving itself to be a good performer, against a backdrop of national gloom, with new jobs bringing population growth and demand for housing.”

The REIQ found coastal Queensland locations ranking as the state’s strongest performers during 2018.

These included Mackay’s housing market which has come back from the mining downturn to post 5.6 percent annual growth in its median house price, according to the REIQ’s late 2018 figures.

“We are confident this growth can continue for the moment,” the REIQ advised.

The region has the lowest unemployment rate in the state at 3.3 percent, while the population is growing as jobs attract workers back to the region and the rental market is one of the tightest in the state with just 0.9 per cent vacancy.

With a $340,000 median house price, Mackay is still one of the most affordable coastal districts, with prices still at levels below the peak of the mining boom five years ago.

The tightening of bank lending standards has been seen across Queensland, as noted by the latest SEQ report by Ray White on house and land sales.

Despite this there has been an increase in house and land package prices, up 7.8 percent in Brisbane, up 5.05 percent on the Gold Coast sales and 4.99 percent on the Sunshine Coast where house and land package are a popular way to create a new start.

Estate agent John McGrath noted recently that Queensland’s top two regional performers were the Sunshine Coast and the Gold Coast due to rising demand from interstate home owners and investors.

One of McGrath’s pinpointed suburb’s to look out for in 2019 was Pimpama, in the northern part of the Gold Coast.

Pimpama recorded Queensland’s fastest population growth at 31 percent in FY17, with many enthusiastically buying or building brand new homes.

“Pimpama is affordable with a median house price of $475,000 and is located within the rapidly developing northern Gold Coast region along the M1 corridor,” McGrath said.

The $100 million Pimpama City Shopping Centre opened in 2018 and the $56 million Northern Gold Coast Sports and Community Precinct is set to open in 2020.

There’s also plans for a new train station to better connect Pimpama to Surfers Paradise.

The economic forecaster BIS Oxford Economics concluded Brisbane will lead the mainland capitals with price growth.

 

 

Source: www.propertyobserver.com.au

Booming Coomera to be home to residential community Camelot

Camelot in Coomera is the latest residential community in the heart of the booming Northern Gold Coast growth corridor suburb of Coomera.

Location-wise, Camelot offers everything for growing families. The area is home to numerous primary and secondary schools, the Coomera Marine Precinct and a modern TAFE campus.

Stage 1 of the billion dollar Coomera Town Centre – designed over 60ha with a focus on business, livability and community – has now opened.

The centre features 140 specialty shops, including Woolworths, Coles, Target, Kmart and a cinema; it will transform Coomera into a benchmark dining, lifestyle and entertainment destination.

The flagship of the town centre is a new Westfield shopping centre, anchored by a Myer department store.

The centre also includes government and commercial offices, medical facilities, alfresco dining precinct, and world-class retail, all close to the existing Coomera Railway Station.

Coomera train station is the multimillion- dollar transport hub of the Northern Gold Coast, providing train station and rapid commuter services to Brisbane and Robina.

Stage 2 of the Gold Coast Light Rail is now complete, linking the Northern Gold Coast via light rail to the centres of Surfers Paradise, Broadbeach and Griffith University.

Its progress is set to unlock around $1 billion of development along the route.

The hub and interchange is also serviced by Gold Coast buses and links with the Gold Coast’s three major theme parks.

Camelot in Coomera also puts on your doorstep the natural wonders of South Stradbroke Island, the Coomera River, and the Gold Coast’s Broadwater and its sundrenched beaches. Each is a must to experience first-hand, where you can share and enjoy a special piece of paradise.

 

 

Source: www.propertyobserver.com.au

Foundations laid for new hotel at Gold Coast airport

Gold Coast Airport has completed laying the concrete foundations for a new hotel at the site.

It involved the pouring of 2,050 cubic metres of concrete.

Queensland Airports Limited executive general manager, property and infrastructure Carl Bruhn said the 3,000 square metre concrete slab forms the foundations for a $50 million seven-storey, 192-room hotel.

The Rydges hotel will have a rooftop bar and views over Kirra Beach and across the runway.

It was expected to open in mid-2020.

It is being built by locally-based construction company, Condev, on behalf of developer, Trepang, a company associated with John Robinson and Nick Paspaley, who have developed hotels in Darwin, including two airport hotels.

Queensland Airport is the owner and operator of Gold Coast, Longreach, Mount Isa and Townsville airports.

Gold Coast Airport handled 6.52 million passengers in 2018, down from 6.5 million in 2017.

The airport’s master plan has forecast annual passenger numbers rising to 16.6 million by 2037.

In March, the airport appointed Lend Lease to build a new three-level terminal expected to be completed by mid-2021.

 

 

Source: www.propertyobserver.com.au

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic

Gold Coast sales activity has fallen 17% over the year to February 2019, according to the latest CoreLogic Regional Report.

The report suggests it was the largest fall recorded across all five regions in Queensland.

Of the 15,475 dwellings that transacted, 43% were houses, while 57% were units.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 1

Gold Coast home values are down slightly when compared to March 2018, with house values falling -2.8%, while unit values are down -0.4% over the year.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 2

The advertised rental rates across the region increased by $20/week for houses and $10/week for units over the year, an increase of 3.7% and 2.4% respectively.

The average home is taking an additional 14 days to sell for houses and 13 days for units when compared to February 2018, while the average vendor discount has increased to -6.4% for houses, and -6.3% for units over the same period.

The CoreLogic Regional Report reveals challenging property market performance across Australia’s regions, with falling sales activity in the 12 months to February 2019.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 3

 

Source: www.propertyobserver.com.au

Lenders adjusting mortgage rates

As speculation builds that a cut to Australia’s cash rate could be arriving in the near future, several of Australia’s lenders have been adjusting their home loan interest rates over the past week.

Beyond Bank has slashed fixed rates across a range of mortgage products, including its Total Home Loan Packages and Pinnacle Plus Packages.

Fixed rates were slashed as low as 3.79% p.a. (comparison rate 4.88% p.a.) for Beyond Bank’s Total Home Loan Package 3-year special, though the most substantial cuts were for its Total Home Loan Package investment loans, which fell 20 basis points to as low as 4.19% p.a. for selected loans (comparison rates: 5.34% p.a. for 1-year fixed, 5.26% for 2-year fixed, and a 5.19% p.a. for 3-year fixed).

Read more

Which direction for property prices now that we have a coalition win

After an amazing weekend, many people are asking “What is the future of the Property Market”?

The results are in and to the surprise of many, Scott Morrison has led the Coalition to win this year’s Federal election.

And this means our housing markets are likely to pick up by the end of the year.

The stability of government and the fact that there are no changes to negative gearingor Capital Gains Tax will encourage investors.

The market hates uncertainty, and the Coalition win should return confidence to our subdued property.

Read more

top tenants

Being a landlord isn’t always easy. Dealing with tenants who are bad payers or appear to be on a mission to turn your rental property into a rubbish tip can be time consuming and stressful.

Renters currently have the upper hand in many Australian cities. Inner-city Brisbane, for example, has experienced a high volume of apartment construction in recent years and landlords have had to reduce rents and offer incentives to lock in leases.

With renters able to pick and choose, landlords need to try harder to ensure they attract –and keep – top quality tenants.

Here are some tips for achieving this:

Best face forward

The way you present and market your property will influence the type of interest you receive. If a rental property appears dirty and unkempt, prospective tenants may assume you’ll be equally lackadaisical once they’re in residence. This may be appealing to those who share your ‘relaxed’ approach to home and garden care, but it’s likely to be a turn-off for renters who keep things in proper order. The better the home looks and feels, the higher the calibre of applicants you’ll attract (and the higher the rent you can potentially command).

Extra enticements

Faced with the choice between your dwelling and another that’s broadly equivalent, tenants are likely to go for the property that offers extras that add to their comfort. Installing air conditioners in the living room and main bedroom may tip the balance in your favour, or deter good sitting tenants from considering their options during the summer sizzle. Similarly, a dishwasher in the kitchen and freestanding wardrobes in bedrooms that lack built-ins are modest investments that can make a big difference.

Gardening made easy

Not everyone has a green thumb. Ensuring garden maintenance is as easy as possible can make your house or townhouse appealing to renters who may be good payers, but don’t have the time or inclination to mow and prune. Consider providing a green bin, include a monthly or quarterly yard clean-up in the rent and plant shrubs and trees that require minimal TLC.

Lock it up

If you want tenants to take good care of your property, it pays to demonstrate that you’re committed to looking after their personal property too. Installing security that’s appropriate to the home and the neighbourhood can provide peace of mind and make it cheaper and easier for tenants to obtain contents insurance.

Attend to maintenance

Having to ask repeatedly for something to be fixed is irritating, particularly if the request is reasonable. Attending to repairs as soon as possible tells good tenants you respect them and value the relationship. Conversely, making them wait weeks for maintenance requests to be actioned may result in them looking elsewhere for a landlord who can keep up their end of the bargain.

Reasonable rent rises

The market will determine the rent you can charge. If what you’re asking isn’t on par with equivalent dwellings in the same area, renters will assess their options. Should a lease be due to expire and you’re happy with the tenant, it’s wise to be realistic about rent rises – or open to the possibility of a reduction if the market has dropped. Keeping a good tenant is usually easier than finding a replacement

Related article: How to attract and keep top tenants in your rental property