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October 6, 2020

The REIQ says a weak inner city vacancy rate is no cause for alarm for property investors

first_imgPine Rivers has the tightest vacancy rate in Queensland. This home at 4 Livingstone St, Strathpine is listed for rent for $420 per week. Picture: realestate.com.auPine Rivers, north of Brisbane, had the tightest rental market in the state with a vacancy rate of just 1.3 per cent. Residential Tenancy Authority figures reveal 479 bonds were lodged for three-bedroom homes in Pine Rivers region during the March quarter compared to 367 at the same time last year. Ms Mercorella said the lower vacancy rates had switched from the inner city five years ago to the outer suburbs.More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours agoNow there were fewer vacancies in outer suburbs and more in the inner city.Ms Mercorella said the weak inner city market was “ not sounding alarm bells for us at this stage’’. “At the moment, supply is quite high and tenants have got the ability to shop around and that is why we are seeing those vacancy rates hit those kind of levels,’’ she said.“I think over time that will stabilise, we will see that supply absorbed and those vacancy rates will normalise.“Most landlords understand that what we are going through is a pretty unique period in our history.” Ms Mercorella said the current high levels of inner city apartment supply meant that some potential investors could buy well.“If you are looking to invest in that market, because the supply is higher you can actually negotiate yourself a pretty good deal when you are buying.’’But she warned that meant they may also have to negotiate a more reasonable rental rate because there were more properties to choose from. REIQ CEO Antonia Mercorella. Picture: Claudia BaxterFinding  a rental property in inner city Brisbane is becoming a lot easier, with new figures revealing the vacancy rate has hit 4.4 per cent.A vacancy rate of about 3 per cent is considered an equilibrium.Real Estate Institute of Queensland CEO, Antonia Mercorella labelled the inner city vacancy rate as “weak’’, but she said it shouldn’t be a major cause for concern for property investors.She said higher vacancies were a result of the steady level of apartments being built in the inner city exceeding demand. Five years ago, the inner city vacancy rate was a very tight 1.4 per cent.Ms Mercorella said just outside the inner city ring, vacancy rates had tightened. Within the five km to 20km ring, vacancy levels went from 3.3 per cent to 3.1 per cent. Within the greater Brisbane area, encompassing Ipswich, Logan and Moreton Bay council areas, vacancy rates had also reduced. Vacancies on the Gold Coast are tight. This unit at 2/3028 The Boulevarde, Carrara is listed for rent for $670 a week. Picture: realestate.com.auMore broadly throughout the state, Ms Mercorella said the news was fairly good as vacancy rates had started to improve in regional areas and were showing “promising signs’’.She said the stronger price of coking coal, and the lower Australian dollar boosting tourism numbers, had improved the regional economies.“The housing market in regional Queensland is closely tied to these two industries and we can see that workers are being attracted back to these cities with the tightening of vacancy rate figures,” Ms Mercorella said. Within the southeast, vacancies remained tight on the Gold Coast at 1.7 per cent and the Sunshine Coast at 1.8 per cent.last_img read more

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January 18, 2020

Landmark win as Djokovic reaches Queen’s semis

first_imgNovak Djokovic of Serbia celebrates winning his quarterfinal tennis match against Adrian Mannarino of France at the Queen’s Club tennis tournament in London, Friday, June 22, 2018. (AP Photo/Kirsty Wigglesworth)LONDON — Novak Djokovic became the 10th man to register 800 victories since the Open Era began in 1968 when he beat France’s Adrian Mannarino 7-5 6-1 on Friday to reach the Queen’s Club semifinals.Djokovic, a 12-time Grand Slam champion, follows in the footsteps of Jimmy Connors (1,256), Roger Federer (1,156), Ivan Lendl (1,068), Guillermo Vilas (949), Rafael Nadal (903), John McEnroe (881), Andre Agassi (870), Ilie Nastase (846) and Stefan Edberg (801).ADVERTISEMENT “It’s a great achievement,” said the 31-year-old Serb. “I should be happy for it and proud of it. It’s still the sport that I love with all my heart. I put in that heart every single day.”Djokovic, through to the semifinals for only the second time since last year’s Eastbourne International, next meets France’s Jeremy Chardy after he defeated American Frances Tiafoe 6-4 6-4.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownTop-seeded Marin Cilic also advanced with a 7-6 (3) 6-2 win over 2010 champion Sam Querrey.Cilic now faces Nick Kyrgios, who eliminated defending champion Feliciano Lopez 7-6 (5), 7-6 (3). The Croatian player hit 10 aces and dropped only three points on his first serve against American Querrey. He didn’t give him a break point chance, and broke twice.Kyrgios again served 32 aces against Lopez, as he did in beating Kyle Edmund on Thursday, matching his personal best.Sports Related Videospowered by AdSparcRead Next Taal victims get help from Kalayaan town Christopher Tolkien, son of Lord of the Rings author, dies aged 95 Don’t miss out on the latest news and information. In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ Volcano watch: Island fissures steaming, lake water receding Jury of 7 men, 5 women selected for Harvey Weinstein rape trial Take 2: Sexton to wear Irving’s jersey number with Cavalierscenter_img Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Bicol riders extend help to Taal evacuees Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award View comments Cloudy skies over Luzon due to amihan MOST READ Jiro Manio arrested for stabbing man in Marikina LATEST STORIESlast_img read more

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