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Will the stadium boost property prices?

September 28, 2020 | nvxeoqvi | No Comments

first_imgI am often asked about the impact major projects have on property prices in the Townsville area. I remember when the ring road was mooted. People in the Upper Ross were telling me that their properties were now worth more money. The same today with people living around the new stadium. Do property prices soar around major infrastructure developments?In the case of the ring road, we found that it didn’t really add to the sale prices for Condon, Rasmussen and Kelso but it made the suburbs more popular because there was now another access point. In real terms the Upper Ross was not necessarily any better off with the ring road unless you wanted to visit Douglas, Riverside and the army access road. The trip to the CBD was still the same distance, you simply had another route to get there. More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020But there was a perception that the new ring road would bring prosperity to the Upper Ross. The whole neighbourhood was buzzing with the news of its arrival. Some people even bought property in the Upper Ross hoping that once the ring road was opened their property would increase significantly. It did not happen.The new stadium had, and still has, the people of South Townsville and Railway Estate excitedly talking up a storm. And now that construction has begun the site is buzzing with energy. But we still don’t see it as the silver bullet for house prices. I am confident that some buyers and sellers may have benefitted by the announcement and subsequent construction, but it is my opinion that it has made the area more desirable to live in which will drive buyer interest. But when it comes to infrastructure there is rarely, if ever, one single thing that leads to a recovery for the city. It is almost always a combination of multiple projects coming together at the same time that instils confidence in buyers and the business community. Projects such as Adani, the dual pipeline to the Burdekin, the Singapore Army interest in Townsville, the possible reopening of Queensland Nickel, the new Stadium, the solar farm at Kelso and the extensions to the Townsville port, to name just a few, will all help grow the confidence of our local area and this will attract investment to the commercial and residential sector. When people feel good they spend money and that applies to buying an ice-cream a new car right through to a new property. Let’s hope the projects online for our great city all materialise and put Townsville back on the winner’s podium where it deserves to be and will be in the future. Opinion is divided over whether the North Queensland Stadium will help increase property prices. REIQ Townsville Zone chairman Wayne Nicholson weighs in. North Queensland Stadium under construction in September 2018 Townsvillelast_img read more

first_img4 Wildfire Court, Newport, has a 34m pontoon that can take a superyacht.A suburban home in Brisbane’s north has sold for $2m with one of best excuses to get a bigger boat, ever — a whopping 34m pontoon that takes superyachts. CoreLogic sales results issued Monday named the property at 4 Wildfire Court, Newport as one of the highest sales in the state in the past week. The home, which changed hands on Friday, was marketed with a warning by real estate agent Stephan Siegfried of One Agency Redcliffe — North Lakes, stating “you’re going to need a bigger boat”. Not a bad spot to chop up some veges. Making the most of water views upstairs. Size matters when it comes to pontoons and boats.“With one of the largest pontoons in South East Queensland, this unique proposition will suit the buyer looking to have their superyacht (or multiple big boats) on their doorstep,” was how he’d described it.“The main pontoon is an extra-heavy duty set-up that is 34 metres long (yes you haven’t misread, this is over 110 feet in length). Equipped with 3-phase power both 15 AMP and 50 AMP PLUS water.”More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours ago MORE: Rugby star’s dream home revealed Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, 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 Rate1xFullscreenHow much do I need to retire?00:58 Even the pool has water views of its own.The owner sold up “because his bigger boat will no longer fit”, according Mr Siegfried.“The house was on the market for 24 days. Settlement was Thursday. It has been bought by a non-local, long-term client who had a very specific brief,” he said.“I thought the house would be perfect for them but it still took a bit of persuading. “The buyers have previously purchased from us and own another canal home in the area. They plan to retire here in 10 or 12 years. They thought about it for quite a while but with the other interest decided not to risk waiting any longer.”A tenant for the property had already been secured through the network of One Agency’s executive property management division.center_img “The buyers particularly loved the layout with the master downstairs, and being big boat lovers, the awesome pontoon and the second one as well. They love the location and will do a full renovation prior to moving in a long way down the track.”The second pontoon was less than a third the size of the first one at nine metres long with the Newport property also having what boaties with bigger vessels crave — “no height restrictions or bridges to pass under” plus “direct deepwater access”, in this case to Moreton Bay and the Pacific Ocean. FOLLOW SOPHIE FOSTER ON FACEBOOK Where $500K still goes a long way Double barrelled pontoons. The hardest place in QLD to sell a houselast_img read more

first_imgRay White Surfers Paradise Group chief executive Andrew Bell urged people to only use the report as a guide, as median prices often reflected market activity rather than predictions.“When you talk medians it reflects the activity in a market,” he said. “Sometimes you’ll see lower prices not because it’s cheaper but it’s where the activity is. “What the report does do, it spotlights some suburbs that people should have a closer look at if they are buying.”If people were in a position to do so, they should look to buy rather than rent for the long-term benefits, he said. CoreLogic’s head of research Tim Lawless said across the country households were dedicating the smallest proportion of their incomes to paying off mortgages. “This year, we have also seen an increase in the number of areas where it is cheaper to buy than rent, which can be attributed to the lowest interest rates since the 1950s together with lower housing prices relative to the market peak.” ANZ’s latest housing affordability study shows residents in the city’s north are spending on average 38.7 per cent of their income on a mortgage, while renters are forking out 40.1 per cent. Renters in the north are spending 40.1 per cent of their income on rent, while homeowners are only forking out 38.7 per cent on a mortgage.Households in the region are taking home a median $1241 a week. The median price for a dwelling in the city’s north is $470,720. The median rent is $498 per week.However, weekly repayments on a 30-year loan would be about $377 for a 20 per cent deposit, $424 for a 10 per cent deposit, and $448 for a 5 per cent deposit. Real Estate Institute of Queensland chief executive Antonia Mercorella said the record low cash rate of 0.75 per cent made “buying much more achievable to so many people”.“One of the primary drivers behind it is that interest rates are incredibly low so we are seeing people reassessing whether it is cheaper to buy than rent,” she said. “We are also seeing people explore other ways to own (property) rather than waiting to buy on their own, with friends or family members coming together to buy. “They don’t have the financial resources to buy alone but are able to share the burden.” REIQ CEO Antonia Mercorella said record a low interest rate was making buying a property more achievable. Picture: Claudia BaxterMs Mercorella warned other costs still needed to be taken into consideration when buying property, including a deposit, stamp duty, rates and maintenance. “People also need to understand if you look at the average term of a rental property it sits at around 17 months, it’s quite short,” she said. “A mortgage is likely to be in the vicinity of 25-30 years so it’s a much longer term commitment.” LJ Hooker Nerang principal Shane Colquhoun said while record-low interest rates were to thank for the improvements in housing affordability, rental strain was not easing. More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago“The big banks are still trying to achieve a 4 to 5 per cent interest rate but there are some lenders out there with high twos or (low) threes, so if people take advantage of that then, absolutely, it’s cheaper to buy than rent,” he said. “Rentals are very much still in demand. Maybe we could see a drop in rent, but if I was a gambling man I would say the rents will still increase. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, 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 Rate1xFullscreenWays to get into the property market for less00:29 It’s cheaper to buy than rent in the Gold Coast’s north, a new report shows.WANT to save at least $50 a week while living in the city’s north?Buy a home and treat yourself to 10 coffees on the money you save.A new report has revealed tenants in the fast-growing northern corridor are paying at least $2600 a year more in rent than it would cost to pay off their own home with a 5 per cent deposit. MORE NEWS: Precious property comes with $100k worth of crystalsMORE NEWS: Holiday hot spots where prices are set to skyrocket last_img read more

Townsville records record low rental vacancy rate

September 28, 2020 | aazfmwrl | No Comments

first_img Rural properties fetching top dollar Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:01Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:01 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedCaptions (En-AU)Quality Levels540p540p360p360p270p270pAutoA, 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 Rate1xFullscreenCoronavirus: Inside Australia’s renting crisis03:01North Queensland vacancy rates have continued to nosedive, with some towns experiencing their tightest rental markets on record.Townsville recorded its lowest ever vacancy rate during the June quarter, falling to just 1.7 per cent, according to the latest REIQ Vacancy Rate Report.That’s down from 2.9 per cent in March, and the record high for the city of 7.1 per cent in September 2016.The vacancy report has been collating data across the state since December 2008. MORE NEWS: Clive Palmer is buying out the neighbours Townsville’s fastest selling suburbs revealedcenter_img The Burdekin, which had an unenviable vacancy rate above 10 per cent in December 2015 and December 2016, has seen its stock of available rental properties shrink to just 1.1 per cent in the June quarter, down from 3.2 per cent in the March quarter.Charters Towers saw one of the biggest drops in vacancy rates, falling from 5 per cent in March to just 1.5 per cent in the June quarter.The Mount Isa market has also tightened, dropping from 2.5 per cent to just 0.5 per cent.Rental vacancies on the Cassowary Coast have tightened from 4.9 per cent to 2 per cent.Real Estate Institute of Queensland (REIQ) chief executive Antonia Mercorella said that about 70 per cent of Queensland’s rental market was facing “extremely tight conditions”. “In fact, the tightest conditions seen in Queensland since the global financial crisis,” she said. Real Estate Institute of Queensland CEO Antonia Mercorella Picture: Richard WalkerMs Mercorella said there had been a shift towards cheaper rental options in the outer urban and regional areas as a result of COVID-19, putting pressure on established stock.“The rental sector plays a critical role in Queensland’s housing system and the role and size of our investor market has never been so important,” Ms Mercorella said. “Any further tightening in rental availability levels will only place additional undue pressures on our housing sector, which is why more needs to be done to better support both increased and ongoing property investor activity in the Queensland property market and the contributions they make to the state economy.” FOR RENT: 18 Macquarie Street, Jensen is listed for $800 a weekJohn Gribbin of John Gribbin Realty said their vacancies were “virtually zero”. More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“The number of properties you could move into today is small, maybe half a dozen,” Mr Gribbin said. “A lot of people are staying put and others are moving into town, so the population is ­growing. Some of it is COVID-19 – people wanting to get out of the big cities.“But it is not just that. The building sector is picking up with new residential estates popping up, mining is strong.“There is a definite pick-up in town.” FOR RENT: 5/39 Quinn St, Rosslea is listed for $290 a weekMr Gribbin said that while there were still some properties yet to come back on to the ­market after the floods, there were not many left to list. “Really, I wouldn’t be above 1 per cent (vacancy rate),” Mr Gribbin said.last_img read more

first_imgArrecife Energy Systems has been selected to participate in 2017 Cleantech Open Northeast annual accelerator program to further advance its wave energy business.Throughout the 5-month accelerator, companies will be connected with mentors, entrepreneurship education, visibility, opportunities to access capital, and other vital resources to help entrepreneurs and technologists launch a successful cleantech company.Arrecife Energy was selected as one of the 31 companies for this year’s Cleantech Open Northeast accelerator, from a pool of 77 applicants. The company  is developing a new wave energy converter that features turbines with a high torque and a low speed to harness the energy of the waves.The device simulates the natural behavior of coral reefs and their efficiency in absorbing wave energy, and was recently tested in real-sea environment off Spain.The Cleantech Open Northeast Class of 2017 will kick off the accelerator in Boston on June 26-27, 2017, with the Cleantech Open East Coast Academy, a two-day program during where companies will hear from leading cleantech business leaders, receive specialized startup mentoring, and refine their business plans.“Once again the strength of our applicant pool is a testament to the vitality of the cleantech sector in the Northeast. We received a number of applications from companies that have worked with our ecosystem partners, demonstrating the network of support promoting the development and deployment of clean technologies in our region,” said Kathryn Elmes, Cleantech Open Northeast Director.Cleantech Open is a US-based cleantech accelerator dedicated to providing entrepreneurs and technologists the resources needed to launch a successful cleantech company.Over the past seven years, the Cleantech Open has awarded over $5 million in cash and services, and during that time, according to the cleantech accelerator, 880 of its alumni companies have raised more than $1 billion in external funding.last_img read more

first_imgImage Source: E.ONE.ON has posted a photo showing Van Oord’s heavy lift vessel Svanen installing monopile foundations on the 385MW Arkona offshore wind farm in the German Baltic Sea.E.ON and Statoil have organised a ceremony at Mukran Port in Sassnitz to mark the start of offshore construction works.Christian Pegel, Minister for Energy, Infrastructure and Digitisation in Mecklenburg-Vorpommern, said: “The Arkona offshore wind project is a key investment in the expansion of wind power off the coast of Mecklenburg-Vorpommern and is a further step in ensuring the provision of renewable energies. Furthermore, the construction of a fourth wind farm off the coast of our state will create new secure jobs in the region.”The monopile foundations were delivered by EEW Special Pipe Constructions, while the transition pieces were produced by Bladt Industries.The first transition pieces arrived at the Mukran Port in August.The 385MW Arkona wind farm, a joint venture between E.ON and Statoil, is located 35 kilometres north-east of the island of Rügen. The wind farm will comprise 60 Siemens 6MW turbines scheduled for commissioning in 2019.last_img read more

Japan designs WEC turbine to tame shoreline waves

September 28, 2020 | aazfmwrl | No Comments

first_imgOIST turbines placed in an array (Image: OIST) Researchers from the Okinawa Institute of Science and Technology Graduate University (OIST) have outlined plans for a wave energy turbine that could provide protection for the shore while also generating power from the waves.The project being developed by OIST team involves placing turbines at key locations near the shoreline, such as nearby tetrapods or among coral reefs, to generate energy.Each location allows the turbines to be exposed to ideal wave conditions that allow them not only to generate clean and renewable energy, but also to help protect the coasts from erosion while being affordable for those with limited funding and infrastructure, OIST said.The turbines themselves are built to withstand the forces thrust upon them during harsh wave conditions as well as extreme weather, such as typhoons, according to OIST.Five-blade turbine design by OIST (Image: OIST)The blade design and materials are inspired by dolphin fins – they are flexible, and thus able to release stress rather than remain rigid and risk breakage, OIST informed.The five-blade turbine has a diameter of about 0.7 meters. Its blades rotate on their axis when influenced by ocean wave.The axis is attached to a permanent magnet electric generator that transforms the ocean wave energy into usable electricity. The ceramic mechanical seal protects the electrical components inside of the body from any saltwater leakage.OIST said the turbine has been designed to function for ten years before it needs replacing.The supporting structure for the turbines is also flexible and the turbines bend along their anchoring axes, according to Tsumoru Shintake, Professor at OIST.The turbines are also said to be built to be safe for surrounding marine life as their blades rotate at a carefully calculated speed that allows creatures caught among them to escape.One prime location to place turbines is in front of tetrapods at the shoreline. Tetrapods are concrete structures shaped somewhat like pyramids that are often placed along a coastline to weaken the force of incoming waves and protect the shore from erosion.At this location, the turbines transform the energy from incoming waves into usable electricity which in turn dissipates wave strength and protects the shoreline.OIST team (Photo: OIST)Coral reefs are another type of location with strong breaking waves. Arrays of small WECs could harness electricity from the vortex flow of breaking waves, OIST suggests.Replacing regular with ‘intelligent’ tetrapods and wave breakers, with turbines attached to or near them, would both generate energy as well as help to protect the coasts, Shintake said.The next step for Shintake and his team is to install the half-scale models of the turbine, with 0.35-meter diameter, for their first commercial experiment.The team will soon install two wave energy conversion (WEC) turbines in order to power LEDs for a demonstration.last_img read more

first_imgOffshore helicopter operator CHC Helicopter has transferred approximately 15,000 passengers to and from the world’s largest offshore facility – Shell Prelude FLNG – since its arrival to the Prelude field offshore Australia.CHC said that the transfers were made with the four S-92s helicopters racking up 2,782 flight hours and 171,080 nautical miles with no injuries or incidents.Prelude is located 475km north-northeast of Broome and is in the process of being commissionedApproximately 800 people are working and living on Prelude and the adjacent accommodation support vessel during this commissioning phase of the project.“In the midst of all of this activity, the team in Broome have had to contend with two cyclones (hurricanes) and tropical lows which have dumped 1.5m (5ft) of rain on the coastal town and airport, where CHC has its base, in the last three months alone. That equates to more than two years’ worth of rainfall,” CHC said.When it comes to Shell’s Prelude project, the 488-meter-long and 74-meter-wide floating facility is located Browse Basin, approximately 475km north-north east of Broome in Western Australia, secured with 16 mooring chains since August 2017. Prelude FLNG facility will stay at the location for 20 to 25 years.The largest floating facility ever built will unlock new energy resources offshore and produce approximately 3.6 million tonnes of liquefied natural gas (LNG) per year. It will remain onsite during all weather events, having been designed to withstand a category 5 cyclone. Production from the Prelude field is expected to start later this year.The Prelude FLNG project is operated by Shell in joint venture with Inpex (17.5%), KOGAS (10%) and OPIC (5%).Offshore Energy Today Stafflast_img read more

Xodus Group Appoints Renewables Director

September 28, 2020 | xppcyhzz | No Comments

first_imgThe Scottish engineering and advisory consultancy Xodus Group has appointed Peter Tipler as the Renewables Director with an aim to help drive growth across the sector.According to Xodus, Tipler has been with the company for almost ten years working at a number of positions in the renewable energy, environment and decommissioning divisions.“I’m honoured to take on the role and hope my experience and knowledge of the projects over the years will allow Xodus to build up the capabilities right across the renewables industry – from wave and tidal to offshore wind,” Tipler said.“We have a long history of working in the sector. Our view is that offshore renewable energy is a fundamental part of the global future energy mix. We aren’t waiting for it to happen, we are making it happen.”Xodus partnered with Green Marine in 2017 to launch an integrated service for the maintenance of offshore renewable assets by combining its integrity management software tool XAMIN to capture and monitor live data from offshore assets with Green Marine’s physical offshore inspection and repair services.Earlier this year, the Aberdeen-based consultancy firm announced that Subsea 7 is acquiring a 60% holding in the company from Chiyoda Corporation, which is retaining a 40% stake as a joint venture partner.last_img read more

EOI Invited for Cairns Dredge Project

September 28, 2020 | jqykayon | No Comments

first_imgDredging contractors are being invited to provide Expressions of Interest (EOI) for the removal and placement of dredge material for the Cairns Shipping Development Project, the Queensland Government said in its latest release.The EOI is the first part of a two-stage process to procure a dredging contractor based on their experience, methods, equipment and capability to meet strict environmental requirements and timeframes.Minister for Transport and Main Roads, Mark Bailey, said that while a number of approvals still needed to be obtained by Ports North, calling for expressions of interest from dredging contractors was a major step forward for the Cairns Shipping Development Project.“The Queensland Coordinator-General granted environmental approval for this project in February,” Mr Bailey said.“Ports North has since been working with the State Government on a detailed business case in accordance with the Building Queensland Framework, as well as with the Federal Government to finalize approvals as soon as possible.”Member for Cairns, Michael Healy, added that the upgrade to the Port of Cairns was vital for economic and tourism growth in Far North Queensland region.“The widening and deepening of the existing navigation channel to allow larger cruise ships to berth at the Cairns Cruise Liner Terminal would unlock other benefits too,” Mr Healy said.“The project will also enable future expansion of the HMAS Cairns Navy base; improve access and efficiency for bulk cargo and larger visiting Navy vessels and increased resilience for the Port of Cairns against extreme weather events.”Subject to finalizing all project approvals, Ports North plan to start work in 2019 and have the first larger cruise ship entering the upgraded channel in late 2019.Dredging will occur over a 12-week period.last_img read more