The listing of this home at Hamilton is tipped to test the luxury market

first_img1 Dickson Tce, Hamilton. 1 Dickson Tce, Hamilton.BRISBANE’S high end property market has been firing of late, with a number of significant multimillion-dollar sales chalked up in recent weeks.Nationally, million dollar plus sales are rising with the latest figures revealing the number of properties selling for more than $1 million is at a new record high.In the 12 months to June 2017, 15.4 per cent of all house sales and 8.8 per cent of all unit sales nationally were at a price of at least $1 million.A property predicted to well and truly exceed that level is a home owned by Brisbane developer Anthony Barakat and his wife Terrie at Hamilton.Mr Barakat, who does a lot of his investing south of the border these days, said with their four children growing up, they didn’t use the home at 1 Dickson Tce, as much as they once did and they were going to downsize to a unit.1 Dickson Tce, Hamilton.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoThe house at 1 Dickson Tce, Hamilton was designed by Greg Harris who also designed a massive home at 1 Leopard St, Kangaroo Point which broke Brisbane’s house price record when it sold for more than $18 million earlier this year.1 Dickson Tce, Hamilton.Mr Barakat said as his children grew older they really only used three rooms of the house, the kitchen, the laundry (which was in constant use) and the barbecue area.1 Dickson Tce, Hamilton.The home has multiple living and entertainment areas over three levels. There is an infinity edge pool with glass fencing and an outdoor kitchen.1 Dickson Tce, Hamilton.The home has been listed through Damon Warat of Ray White Ascot.1 Dickson Tce, Hamilton.last_img read more

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

Big nests lure the ‘kidults’

first_imgManoj & Madhuri built their home with Ownit Homes, with the focus on creating enough space so their daughters could stay at home as long as possible.They are often labelled “kidults” or “boomerang kids” – adult children who still live at home.But not all parents are so keen for their grown-up offspring to fly the nest.Manoj and Madhuri Vemula are bucking that “grow up and leave” mentality, and have moved in to their new, purpose-built home at Highvale in the Samford Valley.Constructed by Brisbane-based Ownit Homes, the six-bedroom house was designed to allow their two daughters, Mousami, 27, and Mounavi, 22, to stay under their wing as long as possible.“We want our girls to stay as long as they need to,” Ms Vemula, who works in the industrial relations sector, said.“In our culture (Indian), it is common for several generations to live under one roof.”The family recently made the move in to their dream home, leaving behind a four-bedroom house on a small block at Taigum.Their new home has six bedrooms, each with an ensuite, a large entertaining area and media room, a granny flat and two acres of land.Its completion marked the culmination of years of hard work, after the family moved from India 15 years ago in pursuit of the great Australian dream.“We saw Australia as offering so many more opportunities. This is our dream come true,” Mrs Vemula said.“The girls were growing up (Mousami, who works in human resources, recently married, and Mounavi is a doctor) and with real estate the way it is, we wanted to give them the best opportunity to succeed when they do move out.More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours ago“I would have them at home forever if I could, and I would welcome any future grandchildren here.“It’s not unusual in our culture to have several generations under the same roof.“I lived with three generations. We look after each other.”But no one gets a “free ride” in the Vemula home. Rent and bills are paid, and chores are shared.Ownit Homes managing director Brad Ganim said his company was seeing an increase in people wanting an extra bedroom or space away from the main living areas.“Grandparents or extended family can live there or it can be used as a teen getaway,” he said.“People are recognising that the kids may be around longer and are building accordingly. We’ve seen it grow in popularity over the past few years.”In October last year, Bold Living director Brett Boulton said the modern family had come full circle, with many grandparents now sharing a home with their children and grandchildren.“This new-age family co-living is making housing more affordable for the younger generation and is attractive to grandparents who get to spend more time with their kids and grandkids and have room to park the caravan when they’re not travelling,” he said at the time.last_img read more

The one simple thing you can do to avoid being scammed thousands of dollars

first_imgMore from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus18 hours agoIt’s easy to avoid being scammed according to GlobalX CEO Peter Maloney.But he said there was one very simple thing buyers could do to avoid being caught – make a phone call.Any email asking for funds to be transferred should be verified with a phone call before any money was released.“Pick up the phone and ask them,’’ he said.“It really is that simple’’. WHICH CAPITAL CITY IS BEST FOR UNITS Australian Institute of Conveyancers President Shane Jacob echoed the call for all involved in the property purchase process to be diligent.“It is vital that buyers and conveyancers become more informed. If you receive an email that you think is suspicious, buyers should be calling their conveyancer to confirm it is legitimate,” Mr Jacob said.“Scammers are getting smarter, so property buyers and their legal representation need to be aware in order to protect themselves.” Do one simple thing to avoid losing thousands when you buy property.MILLIONS of dollars have been lost to scammers intercepting property transactions already this year, but there is something you can do to protect yourself.Conveyancing technology experts GlobalX has revealed that many who operate within the industry are unaware that scammers are successfully ripping off buyers already in Australia.CEO Peter Maloney said millions had been lost in transactions.The common rort involves scammers hacking conveyancers’ client lists, impersonating them and emailing their clients to advise them the property trust account details had changed so clients would transfer property purchase funds into a fraudulent account.Mr Maloney said he was aware of instances of money being stolen this way in both South Australia and Western Australia where eight buyers were targeted and lost millions.Mr Maloney said if you were paying a $200,000 deposit to buy and house and put it into a scammers account unknowingly it could be almost impossible to trace and retrieve it.He said the buyer was not the only one affected as transactions could then fall through and the seller would have to market their home again.last_img read more

Coast beach house changes hands for $3m in secret sale

first_img11 Dryandras Court, Casuarina. 11 Dryandras Court, Casuarina.More from news02:37International architect Desmond Brooks selling luxury beach villa17 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“They wanted to find somewhere that was very private that allowed them plenty of space,” Mr Witheriff said.“I had been speaking to them for a couple of months previously and we’d looked around at half a dozen other homes in the area.“We ruled out six other properties that were on the market.”He said they picked the property and negotiated a sale price with owner Nathan Johnston, who runs luxury home building company Measured Up Builders. 11 Dryandras Court, Casuarina.“It went to contract (within) a week of them seeing the property,” Mr Witheriff said.The home has soaring ceilings with full-length windows, a fireplace at the heart of its living area and Italian tiling in the bathrooms.The pool and basement with workshop, gym, store room and parking for six cars are standout features.Mr Witheriff said it was the highest beachfront sale recorded in Casuarina since before the global financial crisis.center_img 11 Dryandras Court, Casuarina.A BEACHFRONT home at Casuarina has fetched more than $3 million in an off-market sale.The contemporary five-bedroom house, which was designed by Gold Coast architect Paul Uhlmann, was snapped up by a couple from Far North Queensland for $3.25 million.Marketing agent Nick Witheriff, of LJ Hooker Kingscliff, said they were determined to move to the Tweed Coast.last_img read more

The 40 tonne axleload will come

first_imgbut track and train need common management’CONSIDER a new heavy haul railway with 40 tonne axleloads and high adhesion locos hauling frequent trains at 120 km/h, and suppose it damages your business. What are you going to say to your business manager?’ This warning from Harry Tournay of Spoornet was issued to nearly 400 engineers and specialists in the heavy haul freight business at the Sixth International Heavy Haul Conference held in Cape Town on April 6-10. Delegates had spent three days deliberating on engineering advances that would allow them to haul more tonnes at lower cost. While the iron ore market has recovered from the slump of the mid-1980s, thanks in part to rising steel demand in China and other booming Asian economies, Ben Alberts of South Africa’s Iron & Steel group ISCOR said that ’the price in real terms is in constant decline’.It was against this background that Spoornet Chief Executive Braam le Roux reminded delegates that the IHHA ’was not a very natural partnership because the customers are international competitors’. How refreshing then, that IHHA members are still willing to share their expertise in the unending search for the ideal wheel-rail interface where wear is controlled to the practical minimum. Much progress has already been made – in the last 10 years, according to the IHHA’s first chairman Dr Bill Harris, rail life has been extended from 600 million to 2 billion gross tonnes. All heavy haul railways stand to benefit from the unique fund of knowledge and research that exists within the IHHA, as do other railways with lower tonnages who experience the same wear problems over longer timescales.Le Roux urged delegates ’to push the limits beyond those which enable sound sleep’. This will require the courage to exploit advanced technologies, which could include automated train health checking, ’smart’ trains with on-board rolling stock monitoring and perhaps crewless operation, optic fibre rail integrity checking, and ground penetrating radar to ensure the subgrade is in good fettle. Perhaps the biggest challenge is to go beyond the 38 tonne axleload limit already being contemplated by BHP in Australia’s Pilbara, with 40 tonnes and beyond forming the quantum leap that Tournay saw as missing in topics up for debate at the conference.In contemplating the advance beyond current axleload limits, Harris warned that it was ’imperative to treat the railway as a system’ and cited the cost in terms of track wear in North America in the 1970s after many railroads introduced so-called 100 ton cars (loaded weight 119·3 tonnes) – ’it wasn’t long before the subgrade let us know that it wasn’t very happy’. Outgoing IHHA Chairman John Reoch considered separation of operations from infrastructure to be ’fundamentally flawed’, a view supported by Roy Allen, Vice President, Research & Test, at the AAR who pointed to rail grinding that had contributed to a spate of derailments affecting double-stack trains.It will be instructive to see how aspiring IHHA members in Sweden (operator MTAB and infrastructure authority Banverket) handle the planned upgrade to 30 tonne axleloads on the Luleå – Kiruna – Narvik line; the price of getting it wrong could be high. To find out what transpires, rendez-vous in Russia in 1999 for the IHHA’s next specialist technical session on the wheel-rail interface. olast_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

EAPF commits £85m to new Ownership Capital fund

first_imgThe Environment Agency Pension Fund (EAPF) has committed £85m (€106m) to a new long-term equity fund launched by Ownership Capital.The $750m (€578m) fund, still conducting its first round of capital raising, has attracted mandates from four pension investors, with the £6.5bn scheme for employees of Unilever and the UK’s Pensions Trust also named.Mark Mansley, CIO at the EAPF, said his fund was impressed by Ownership’s commitment to stewardship and responsible investment and noted that it was implementing the recommendation’s of the UK’s Kay Review by focusing its portfolio on 20-30 stocks.He told IPE the EAPF had committed £85m to the strategy, which would form part of the scheme’s 25% allocation to sustainable investments. Ownership was launched in 2012 after four of PGGM’s responsible equity team, including its head Alex van der Velden, left the pension manager.Van der Velden, now the company’s CIO, said much of the asset management industry was “overly short-termist”, an issue Ownership hoped to address“We are excited to have the backing of such highly rated investors as Unilever, the Pensions Trust and the EAPF, and look forward to investing on their behalf,” he said. The fund will target returns over a decade-long period, the company said.Dutch manager SPF Beheer has recently enjoyed some success with more concentrated equity portfolios, while both the EAPF and the UN-backed Principles for Responsible Investment have highlighted the opportunities stemming from a more long-term investment approach.last_img read more

European Commission to push ahead with revised IORP Directive

first_imgIn the draft work programme’s preamble, the Commission noted that the European Fund for Strategic Investments would only form part of the €300bn investment programme, with the use of “innovative” financial instruments key.It also identified the completion of the “significant overhaul” of financial regulation in the wake of the 2008 financial crisis as a major area of its work.“The financial regulatory framework,” it added, “will be further strengthened by a proposal dealing with crisis management and resolution of non-bank systemic entities.”Jonathan Hill, commissioner for financial services, previously told a parliamentary hearing he would like to publish a proposal tackling the risk of clearing house bankruptcy early next year.The draft further identified 80 proposals that would either be withdrawn or modified, many of which are directives and regulation that have stalled due to lack of support from member states.Despite being listed as “under review” in a November letter from Juncker and Commission vice-president Frans Timmermans, the IORP Directive was not among the 80 proposals to be abandoned or substantially modified.Hill told journalists in Brussels earlier this week it would be “odd” to withdraw the revised IORP Directive now, when the Council of the EU had, under the Italian presidency, agreed a number of changes over the course of four compromise drafts.The Council most recently finalised its negotiating mandate with the European Parliament, although no MEP has been appointed as rapporteur to oversee its passage through the chamber. Dave Roberts, senior consultant at Towers Watson in the UK, noted that the withdrawal of the revised IORP Directive so soon after Michel Barnier published it risked being perceived as “openly critical” of the former commissioner’s work.Roberts also noted the problems that could have arisen due to the commissioners currently involved.“Given that Mr Timmermans is Dutch and that the Commissioner now in charge of IORP II, Jonathan Hill, is from the UK, withdrawing the Directive could lead to accusations of national bias – with the Netherlands and UK leading antagonists of IORP II,” he said. The European Commission is set to push ahead with the revised IORP Directive, with the legislation not among the dozens of proposals earmarked for withdrawal in a draft of the executive’s work programme.The 2015 Work Programme, set to be published on 16 December, outlines president Jean-Claude Juncker’s priorities for the coming year and highlights the launch of the Commission’s €300bn investment plan, among other measures to stimulate growth.The undated draft of the work programme seen by IPE is likely to have been circulated at a meeting of Commission vice-presidents earlier this week.It listed the action plan on the Capital Markets Union and a framework to wind up systemically important financial institutions, such as clearing houses, as two of the new measures the Commission would prioritise in 2015.last_img read more

Alecta’s return, solvency level fall year-on-year

first_imgSweden’s largest pension fund Alecta saw its investment returns on both defined benefit (DB) and defined contribution (DC) products dip in 2016, with solvency levels also contracting.The return on DB pensions was 5.1% in 2016, according to full-year figures just released, down from 5.8% in 2015. DC pensions ended last year with a 5.8% return, down from the 7.9% produced the year before.Alecta pointed out that the five-year average for the two pension types was 8.9% and 12.5% as of last year, .Magnus Billing, the current chief executive of Alecta, said: “I am proud of [DC fund] Alecta Optimal Pension’s long-term return over the five-year period.” The slight fall in returns followed a warning from Alecta’s then-chief executive Staffan Grefbäck a year ago that the good return seen over many years and the low level of interest rates suggested future expectations should be kept low.Speaking about 2016 results, Billing said the company had now completed its recent property transactions in the US and could focus on drawing efficiency benefits from its ongoing property management.Earlier this month, Alecta offloaded the last of its directly-held US real estate assets, selling its portfolio of 22 assets, worth around $1.8bn (€1.7bn).Following the US property sales, Alecta has now exited all its directly-held international real estate investments, in accordance with its new strategy.“We also recently reached a milestone of having SEK10bn [€1.1bn] invested in green bonds,” Billing said, adding that it was “excellent and quite natural” that Alecta put part of its managed assets into this type of sustainable investment.The portfolio of DC product Alecta Optimal Pension now had SEK70bn in assets, of which 63% is invested in equities, Alecta said.Meanwhile, the DB pension scheme had assets of SEK697bn at the end of December 2016.The group solvency level fell to 166% at the end of 2016, from 171% a year before, but Alecta still described this as strong.Administrative costs fell to 0.09% from 0.1%.last_img read more