Qld boom has now overtaken NSW...

Discussion in 'Property Market Economics' started by big max, 30th Jun, 2017.

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  1. big max

    big max Well-Known Member

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  2. big max

    big max Well-Known Member

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  3. Sackie

    Sackie Well-Known Member

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    Slowly buy surely this rooster is coming to lay the next golden egg:cool:
     
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  4. Kangabanga

    Kangabanga Well-Known Member

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    no need to create a new thread every time there is a new article on Brisbane.
     
  5. kierank

    kierank Well-Known Member

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  6. kierank

    kierank Well-Known Member

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    ... and the egg is getting bigger and more beautiful by the day :)
     
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  7. Redwing

    Redwing Well-Known Member

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    I was just reading this (Queensland centric) re: Changes come July 1

    COST OF LIVING

    1. Commencement of the Major Bank Levy on NAB, ANZ, CBA, Westpac and Macquarie and anticipated flow on increases in home and commercial lending rates. (Federal)

    2. Electricity bills in Regional Queensland will rise by 3.3% for households and 4.1% for small businesses (these increases are half of those originally proposed as a result of State Government funding the removal of the Solar Bonus Scheme from electricity prices for three years and directing Energy Queensland to remove costs from network charges across Queensland). (State)

    3. Council rates across Queensland will rise. Brisbane (2.4%), Gold Coast (1.8%), Sunshine Coast (2.3%), Logan (1.7%), Moreton Bay (3.99%), Western Downs (2.9%), Bundaberg (3.45%), Redland (2.73%), Cairns (1.75%), Townsville (1.48%), Ipswich (2.95%t). (Local Government)

    4. Water and sewerage charges will increase for example by 2.3% in Greater Brisbane (Queensland Urban Utilities) and 3%t in SEQ (Unity Water). (Local Government)

    TAX

    5. A 1.5% surcharge will be introduced for absentee payers of land tax, applying to land holdings of $350,000 or higher in addition to other land tax payable (does not apply to Queensland residents but anticipated to impact on property investment). (State)

    6. Foreign tax residents will be subject to an increased Capital Gains Tax withholding rate of 12.5% (up from 10%) and a reduced CGT withholding threshold of $750,000 (down from $2 million). (Federal)

    7. ATO will disallow deductions for travel expenses relating to inspecting, maintaining, or collecting rent for a residential rental property. (Federal)

    OTHER

    8. Individuals looking to buy their first home will be able to access specific voluntary contributions made in to superannuation after July 1, 2017. The voluntary contributions will be accessible by individuals from July 1, 2018. Limits apply to the amount that individuals can contribute under this measure to $15,000 per year and $30,000 in total. (Federal)

    9. To assist first home buyers entering the housing market, the Queensland First Home Owners' Grant temporary increase, from $15,000 to $20,000 for contracts on newly constructed homes will be extended to eligible transactions entered into between July 1, 2017 and December 31, 2017. (State)
     
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  8. kierank

    kierank Well-Known Member

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    Mate, hype is good.

    More hype is more good :).
     
  9. Marg4000

    Marg4000 Well-Known Member

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    Brisbane prices are increasing, but I can't see fundamentals that may lead to a boom any time soon.
    Marg
     
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  10. RetireRich101

    RetireRich101 Well-Known Member

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    we let it be...

    it's rare occasion we see big max include Brisbane on the hype :p
     
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  11. Kangabanga

    Kangabanga Well-Known Member

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    Lol ok then , but I still think GC is going to boom more ! ;)
     
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  12. kierank

    kierank Well-Known Member

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    I want them both to boom :)
     
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  13. Kangabanga

    Kangabanga Well-Known Member

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  14. turk

    turk Well-Known Member

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    We are talking about the volume of sales, not price for a period of 1 month.

    I'm excited:rolleyes:

    Hopefully for Brisbane investors it won't lead to an oversupply of rentals.
     
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  15. Sackie

    Sackie Well-Known Member

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    And this egg aint gonna bust any time soon ;)
     
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  16. vbplease

    vbplease Well-Known Member

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  17. Kangabanga

    Kangabanga Well-Known Member

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    Hehe yes ice cream is the way to go, just like Maccas, my 3+ year old toddler is already addicted to Happy meals, toys and Ice Cream.
     
  18. JDP1

    JDP1 Well-Known Member

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    Did someone say hype...where can I sign up..
     
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  19. big max

    big max Well-Known Member

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    The biggest "fundamental" I see is actually comparative value (price and yield) compared to Sydney. So this alone will be a natural driver over the coming years, especially if Sydney can manage to hold its current levels or not fall too sharply in the coming years.

    Secondly is population growth especially for Gold Coast. Both population growth in general as well as great longer term trends in terms of child birth rates and immigration.

    Next is a bounce back in resources/mining. I believe things will get better in the long term.

    Also is a potentially massive tourism boom coming from Asia, especially china, south east Asia and India as these regions middle class (and wealthier class too) discover Australia. Nominal % increases from these regions can have a massive total of effect.

    There are other potential very big drivers but as these are speculative I won't list them here
     
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  20. kierank

    kierank Well-Known Member

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    TBH, this is a bloody stupid idea. The ponies will be a magnet for all the local kids.

    When people come to buy my property, I want them to max out their serviceability, their wallets, their purses, their bank accounts and their credit cards.

    Not to be distracted by some short ar_$e horse :).
     
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