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Pensioners pushed out of Gold Coast property market

first_imgBrent Martens said rental prices have skyrocketed. Picture Mike Batterham“I had two owners who have recently sold and are looking to rent for a year or two, and they are shocked at how much rent has increased in even just a couple of years,” he said.CoreLogic shows the median house rental price on the Gold Coast has increased to $530 in the last twelve months to August, 2017, an increase of almost four per cent.Units are up to $410, an increase of 3.79 per cent. Demand far outweighs supply of rental accommodation. Picture: NIGEL HALLETT“We were not surprised by the affordability issues on the Gold Coast, as identified by the National Shelter report,” she said. “However, we do expect a small reprieve once the Comm Games have passed. The accommodation built for the Games will be converted to student accommodation and this will go some way to easing those tight conditions in this market, albeit briefly.”The REIQ agreed there was a need for more affordable accommodation for pensioners. Most of the Gold Coast is reportedly unaffordable. (AAP Image/Dave Hunt)National Shelter executive officer Adrian Pisarski said the report showed “most of the Gold Coast is moderately unaffordable” to an average annual household income of $80,000.“When you drop the income down to $60,000 a year, the whole of the Gold Coast is unaffordable to severely unaffordable to renters,” Mr Pisarski said.Real Estate Institute of Queensland CEO Antonia Mercorella said the Gold Coast vacancy rate is 1.9 per cent in the September quarter and the market remains in tight range with demand for rental accommodation outstripping supply. It’s beautiful, but it costs more than a pretty penny to rent here.PENSIONERS are the worst hit by the Gold Coast rental crisis, as rents surge across the city.New figures in the national Rental Affordability Index revealed Surfers Paradise, Southport and Robina lead “extremely unaffordable” suburbs for single pensioners receiving $25,000 in benefits a year.center_img Anne Parker has launched her own website to help other battling renters.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North1 hour ago02:37International architect Desmond Brooks selling luxury beach villa21 hours agoMs Parker is now looking to rent in a senior sharehouse with many other women in her position.“It’s just not feasible, everyone is getting squeezed out of the market,” Ms Parker said. “Prices have gone up astronomically.”But it’s not just seniors doing it tough. Harcourts Coastal business development manager Brent Martens said all rentals in a 10km radius of Surfers Paradise have skyrocketed. An aerial view of residential apartments and housing on the Gold Coast , Wednesday, May 17, 2017. (AAP Image/Dave Hunt) NO ARCHIVINGAnne Parker spent 35 years on the Gold Coast, working in IT for Gold Coast City Council and police prosecution.But the mother-of-three is now living with her aunty in an Eagleby retirement village, after she fell sick and was forced to retire.“Life has changed from being independent to begging,” Ms Parker, 52, said. “I’ve been struggling ever since, I’ve been homeless.”last_img read more

Thursday people roundup

first_imgGreater Manchester Pension Fund – Paddy Dowdall has moved over to the £12.6bn (€15.1bn) Greater Manchester Pension Fund from Merseyside Pension Fund, where he was senior investment manager, with particular responsibility for alternatives. In his new post, Dowdall will co-ordinate regional investments made by GMPF. Merseyside has just finished advertising for a replacement and will make an appointment in due course.Ancala Partners – Vincent Gerritsen has joined Ancala, an infrastructure investment firm, leaving his post as senior investment manager in the infrastructure team at PGGM. Gerritsen will start his new role at the start of June and becomes a partner at the firm. While at PGGM, Gerritsen worked on several infrastructure projects, including two where Ancala was involved.Neuberger Berman – Andrew Wilmont has joined the fund manager as lead for its European high yield portfolio, based from London. WIimont joins the firm from Alcentra, where he was head of European high yield investments. He will report to Ann Benjamin, CIO of non-investment grade strategies.BNP Paribas Investment Partners – Cynthia Sweeney Barnes has joined the French asset manager as head of global segments for the EMEA countries. She will also be responsible for corporate and endowment clients, insurance companies, pension funds and official institutions. She joins from HSBC Global Asset Management, where she led the sales for corporates and official institutions. She will begin her London-based role next month. Pioneer Investments – Isabelle Spitz has been appointed senior sales manager for Switzerland at the French asset manager. Spitz, from Zurich, will be responsible for wholesale clients such as banks, independent asset managers and family offices.Allfunds Bank – Chris Edge, former managing director of JP Morgan in Luxembourg, is to join the firm to head up its Grand Duchy business. He will be responsible for driving the firms international expansion after over 20 years with JP Morgan in a variety of roles.last_img read more

Serena battles through tension-filled US Open fourth round

first_imgRelatedPosts Live stream Premier League, La Liga, Serie A on Showmax Pro this weekend Thiem claims his first Grand Slam title after thrilling fightback in US Open Serena pulls out of Italian Open Serena Williams advanced to the US Open quarter-finals after a gritty, tension-soaked 6-3 6-7(6) 6-3 win over Greece’s Maria Sakkari on Monday.The 23-times Grand Slam winner came up short in the second set tie-break, with her power serve abandoning her when she needed it most. Sakkari carried the momentum into the third set as she started the decider with a break.But the 38-year-old American once again showed the battling instincts that has made her one of the all-time greats.She broke back to level for 2-2 as Sakkari’s forehand started to misfire.The six-times Flushing Meadows champion marked her 100th win on Arthur Ashe Stadium with a roar that could be heard all around the grounds.“I just kept fighting,” said Williams, who lost to Sakkari two weeks ago in the Western & Southern Open. “She was doing so well she was being so aggressive.“I knew I needed to do the same thing.”Reuters/NAN.Tags: Maria SakkariSerena WilliamsUS Openlast_img read more