Monthly Archives: September 2020

Popular pad sells in a flash to determined buyer

first_imgThe property at 6 Dell Ct, Caboolture, sold in three days. Picture: Supplied.A neat three-bedroom home has sold in Caboolture in just three days, smashing the suburb average time on market of 35 days.The owner-occupied property at 6 Dell Court went for $314,900 during the traditionally slow holiday period. Marketing agent Frank Pike, of Marsellos Pike Real Estate, said the key factors in the quick sale were the condition of the property and the location. “When you advertise anything in immaculate condition with a shed in a quiet cul-de-sac, that’s gold,” he said. Mr Pike said the property attracted plenty of inquiries but an offer was submitted within days of the home coming to market from a buyer who had previously missed out on another house in the Caboolture area. More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours ago“As soon as they saw it, they fell in love with it,” he said. Mr Pike said the Caboolture market was performing well despite a slump in investor activity. “From an investor point of view, we’ve seen a big drop off, which is not to be unexpected with the banking royal commission tipping lending upside down,” he said. Mr Pike said there were less buyers in the market at the moment as a consequence but he wasn’t concerned. “(The market) may soften a bit but that’s a good time for buyers to upgrade,” he said. “I think 2019 might be a challenge for some people but overall Caboolture and Morayfield always fair well regardless of market conditions.” Follow Courtney Todd on Twitterlast_img read more

RBA to cut rates twice in 2019, says Australian Big Four bank

first_img Champion hurdler Sally Pearson sells Gold Coast home in a matter of days Westpac has revised its GDP growth forecasts downwards and also its residential housing construction growth for 2019 and 2020. Picture: Penny Stephens.“Westpac’s growth forecast in 2019 and 2020 has been a much weaker 2.6 per cent in each year but even that number now appears too high. Our new forecast for GDP growth in 2019 and 2020 is 2.2 per cent.”Westpac had “consistently held (since the August 2016 rate cut) the line that the RBA cash rate would remain on hold for the foreseeable future (a standard two-three year window)”.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours ago“To an extent this view was influenced by the perception that the Bank welcomed the adjustment in the housing markets and saw insignificant spill over effects to the rest of the economy,” Mr Evans said. “The recent change of rhetoric from the Bank on that issue is important. Our revised growth, inflation and unemployment forecasts now make a convincing case for lower rates.”Among headwinds facing the country, the housing downturn was expected to spill over into consumer confidence and construction activity, but it would also have to face the challenge of tougher lending via “developments around credit”. MORE: Yacht racing millionaire’s $3m discount Westpac’s chief economist Bill Evans has predicted RBA will drop rates twice this year because of a downturn in the economy. Picture: AAP Image/Kelly Barnes.One of Australia’s biggest banks has predicted that the Reserve Bank would be forced to cut rates twice this year, bringing the official cash rate to a historic 1 per cent low.Westpac chief economist Bill Evans today predicted that RBA would cut the cash rate by 25 basis points in August and then again in November because of a downturn in the economy.Even further, he foreshadowed that any inaction on rates by RBA could see Westpac’s forecast 5-10 per cent property price drops in Sydney and Melbourne in 2019 go even further in 2020.The major move comes in the wake of Westpac cutting GDP growth forecasts for both this year and 2020 from 2.6 per cent to 2.2 per cent, which was expected to trigger higher unemployment to 5.5 per cent by the end of this year.“That makes a strong case for official rate cuts to cushion the downturn and, in turn, meet the RBA’s medium term objectives,” he said in his latest report on the market.Mr Evans said even through RBA had revised its growth forecasts down from 3.25 per cent to 3 per cent for 2019 and 3 per cent to 2.75 per cent for 2020, “momentum in 2018 slowed dramatically”. FOLLOW SOPHIE FOSTER ON FACEBOOKcenter_img Westpac believed “the need to restore affordability and the impact of tighter lending standards on prices” would see property prices fall by around 5-10 per cent in Sydney and Melbourne this year.“Absent any policy response from the RBA we expect that further falls will be necessary in 2020 before stability in these markets will be achieved.”Mr Evans said the new lending for housing correction in the second half of 2018 was “sharper” than Westpac had anticipated, down 14.9 per cent with both investors (-15.5 per cent) and owner occupiers (-14.7 per cent) affected.“These falls are a combination of both demand (concerns around falling prices and stretched affordability) and supply (new regulations and caution from some lenders in a falling market). We expect these falls, albeit at a much slower pace, to continue through 2019 representing a negative feedback loop to prices.”Westpac has also revised its residential housing construction forecast further downwards for 2019 to –10 per cent from –7 per cent, and –5 per cent in 2020 from –3 per cent predicted earlier. Foreign buyer retreat nationally, but not QLDlast_img read more

AREC 2019: Pink’s drummer Mark Schulman on how to hack the rock star attitude

first_img Mark Schulman treated delegated at AREC 2019 to an impromptu rock concert. Pic: Mikaela DayBetween jam sessions, stories of life on the road with some of the world’s best performers, including Pink and Billy Idol, and surviving cancer, he had some important messages.He encouraged agents to check their attitude before leaving the house everyday and making sure it was a positive one, particularly in hard times.“It’s all about attitude,” Schulman said.“No matter what happens to us, we always have the power to change and shift our attitude about what happens to us.”More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoAs the chemistry for excitement and fear in the body are identical, he said many people often confused the two.“You have the power to shift fear into excitement,” he said. Mark Schulman, drummer from Pink’s band, spoke at AREC on Sunday.THOUSANDS of real estate agents were treated to an impromptu rock concert by pop star Pink’s drummer on Sunday.Talented musician Mark Schulman captivated the audience at the Australasian Real Estate Conference with his enthusiasm in an electric presentation on “hacking the rock star attitude”.He kicked it off by bashing out a drum solo to motivate the crowd of more than 3000 people.“I’ll be your own personal rock star, at your service,” he promised.“That’s how I live my life, like everything is a performance.”center_img He captivated the crowd with his enthusiasm.“It simply makes it more fun and if you’re having a better time, you’re performing at a better level.”Schulman said being grateful was one effective way of shifting a negative attitude to a positive one.“It’s most effective to think about gratitude in the changing times,” he said.“We can’t have a positive and negative thought at the same time. When you’re focusing on gratitude your brain starts to respond.”And he wanted everyone to remember, passion and purpose were just as important as each other to reach your goals.“Passion might be how we do it, purpose is why we do it,” he said.“The why is our emotional attitude to what we do.“When I sit down to play the drums, every single note matters.“If every single note matters then I attach a sense of purpose to every note.”Schulman was the last speaker at the event on Sunday. The conference will continue Monday.last_img read more

Younger retirees prioritise social spaces and security over nanna naps and games of bingo

first_img 2- Village bus connecting to retail, dining, sporting and medical facilities in the reading and peaceful enjoyment of outdoor space 89% MORE QLD REAL ESTATE NEWS: rooms to alfresco cafés and barbecue spaces 91% Wendy Bunyan and Trish Phillips at Noyea Riverside Retirement Village. Photographer: Liam Kidston.Since moving to RetireAustralia’s Noyea Riverside Retirement Village at Mt Warren Park, Trish Phillips and Wendy Bunyan are two active seniors who can be seen on any given day taking part in a friendly game of tennis, bowls or darts, having a dip in the pool in the warmer months or enjoying Friday night happy hour in the village bar and lounge.The pair are also often out and about – shopping, sightseeing, visiting the neighbouring RSL or off travelling the world.It’s a lifestyle neither imagined prior to joining the Noyea Riverside community at Mt Warren.“It’s the best move I could’ve ever made for myself,” said Mrs Bunyan, 68, who moved in four years ago.“My husband passed away when I was 61 and I knew I had to go somewhere like this to have a life – somewhere that had plenty of things to do and ways to have fun.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours ago“It’s a completely different change of life for me. I’d never played bowls, tennis or darts before. My kids think I’m nuts to play tennis at 6.30am but that’s how much I enjoy it.”Trish, 71, moved to Noyea six years ago and also enjoys the active lifestyle as well as thelike-minded community, many of whom are friends from her “prior life”.“My kids love seeing the happiness and stress-free life I’m living,” she said.“You can do as little or as much as you like. And you have your own pool boy andgardeners.“People shouldn’t wait until they’re really old to move into a retirement village, they shouldmove in as soon as they can – they can ease back on the housework and just enjoy life.“You haven’t got time for fun when you’re trying to maintain a big house in the suburbs.”The pet-friendly village hosts regular events and activities, with onsite facilities including acommunity centre, croquet green, putting green, swimming pool and spa, tennis court, bowlsgreen, billiards table, table tennis, arts and crafts area and gym.Meanwhile on the Sunshine Coast, The Avenue Maroochydore, a new retirement village has attracted retirees to its open plan two and three-bedroom apartments.The new community is also home to state-of-the-art facilities including a wine room, gym, internal courtyard with outdoor barbecue area and billiards room and bar, while still encouraging residents to make the most of local amenities like bowling greens, golf clubs, yoga studios and cinemas.RetireAustralia chief executive officer Dr Brett Robinson said the latest research supported the feedback received from residents and potential buyers across the company’s existing and future communities.“Extensive research is carried out as part of the planning stage for every one of ourretirement communities including our new vertical retirement villages, FancuttsRetirement Living in Brisbane and The Verge at Burleigh Golf Club on the GoldCoast,” Dr Robinson said.“Seniors are more active than ever before and are seeking age-appropriate housingoptions that will enable them to lead fulfilling, adventurous and healthy lifestyles asthey age.” broader community 95% 3- Resident’s bar 92% The Resolution Research shows men prioritise support, such as housekeeping and meals, for improved independence and better enjoyment of life when deciding on a village, while women see opportunities for socialising and activities as more important.Resolution Research director Diana Howes said the industry-based research revealed there were both similarities and differences in the drivers of demand for post-war retirees and their baby boomer counterparts looking to make the move into a vertical retirement village. “Both cohorts are, in the main, looking to increase their levels of social engagement while removing the onerous responsibilities of home maintenance from their lives,” Ms Howes said.  “Women are more driven by social engagement and activities than men – 92 per cent of women nominated this in the top five primary drivers to move into a retirement village, compared with 75 per cent of men.”Remaining within their current community is shown to be universally important with 87 per cent of all respondents nominating this as one of their top criteria in the decision making process.Property Council of Australia’s retirement living executive director Ben Myers said about 5.5 per cent of all Australians aged 65 and over live in a retirement village. “With the number of senior Australians set to double in the next 30 years, the retirement living industry is experiencing significant challenges in obtaining appropriate land, obtaining planning approvals and working with an unstable regulatory framework to generate the supply needed to meet the demand of this growing population,” Mr Myers said.“A big benefit of independent retirement living, as distinct from aged care, is the strong focus on forging social connection and lifestyle, which goes well beyond the village and extends into local communities.” 5- Open green spaces for passive pursuits including quiet contemplation, HERITAGE HOME INCORPORATED IN PROJECT 4- Community dining spaces which support a variety of needs from formal dining Wendy Bunyan and Trish Phillips enjoy living at Noyea Riverside Retirement Village at Mount Warren Park. Photographer: Liam Kidston.Hanging out for happy hour and ditching housework – this is the lifestyle over 55s are looking for in Queensland.A new generation of younger retirees are prioritising social spaces, security, and access to shopping precincts over nanna naps and games of bingo, and retirement developments across Queensland are rising to the challenge.Research carried out for national retirement village developer RetireAustralia, shows Australia’s post-war baby boomers have a sophisticated set of needs, with men setting different priorities to women.And with the number of senior Australians set to double in the next 30 years, accommodating these needs is becoming a top priority. 1- Security for the village and for individual apartments 97% Top five things retirees desire BRISBANE’S MILLION-DOLLAR CLUB Source: Resolution Research RetireAustralia’s The Verge at Burleigh will offer residents a coastal lifestyle combined with access to one of the Coast’s most popular golf clubs.And residents at The Verge, co-located with Burleigh Golf Club, will have the opportunity to access club facilities right on their doorstep, or they can take advantage of the rooftop terrace and bar or onsite wellness hub with a gymnasium, indoor and outdoor activity areas, salon and cafe.last_img read more

Howe Building ramps up renovating

first_img6 Vance Close, TinarooIT MIGHT be the last place in the Far North to experience a surge in home renovations, but the Tablelands is certainly giving builders plenty of work revamping and reimagining older homes.And for Jesse and Tya Howe, a renovation project at Lake Tinaroo got them not one, but two industry awards. Easy entertaining.Under the Howe Building banner, the pair won both the Far North region and Queensland state award for best Master Builders Home Renovation/Remodelling Project ($276,000-$575,000) for 6 Vance Place. Mr Howe has been in the construction industry for 18 years and established his own business in 2016.He said there were about 50 per cent new builds and 50 per cent renovation projects on the books at the moment. Glorious wooden floors.“We’ve got two new builds happening now – one at Tinaroo and one at Atherton – and a renovation on a rural property at Malanda,” he said.“The house at Vance Place was a standout because of all the beautiful timber features. The floor and deck were made from timber and the custom designed and made timber staircase had a handmade wrought iron balustrading. Room with a view.“I thought it was a unique project and thought we’d have a chance at winning and we did. It was a fantastic outcome.”Mr Howe said the project took 12 months to complete.“I learnt what quality workmanship was early on from my father, who was also a state award-winning builder,” he said.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days ago The stunning bathroom.“We offer services in all aspects of building, including building new custom-designed homes and concreting as well as commercial and industrial.“Coming within budget while never compromising the quality is what we strive for and have always succeeded in. Howe Building second year adult apprentice Elima Bourke, tradesmen carpenter Russell Rankine and first year apprentice Zackary Dart with Tya and Jesse Howe.“We are a small family business that offer a more personal approach to building and I like to be on the tools whenever I can.”Howe Building operates from its Yungaburra base. The team includes Mr Howe, two qualified carpenters and two apprentices.last_img read more

PGS Sees More Multi-Client Activity

first_imgNorwegian seismic player Petroleum Geo-Services (PGS) has released an operating update for the third quarter of 2017.In the Q3 the vessel utilization on the contracted basis was 28 percent compared to 33 percent in the corresponding period in 2016.On the multi-client seismic basis, the company has seen a slight increase in vessel utilization from 45 percent in Q3 2016 to 53 percent in Q3 2017.The company excluded the cold stacked vessels from the statistics.In Q3 2017 PGS operated nine 3D vessels, corresponding to 128 streamers.The percentage of the stacked/standby vessels was 12 percent in Q3 2017 compared to 10 percent in Q3 2016.Subsea World News Stafflast_img

Safe Bulkers Wrapping up Engineering Studies for Scrubber Installation

first_imgDry bulker owner Safe Bulkers has so far completed detailed engineering studies for scrubber installation on five vessels as part of its IMO 2020 preparations.The studies are in the final stage of completion for another eight vessels and are on track to be completed within the first quarter of 2019, the company added.Safe Bulkers expects to install scrubbers in 19 vessels – close to a half of its fleet – this year, starting with four units in the second quarter. This will be followed by nine in the third quarter and six in the fourth quarter of 2019.The majority of installations will be concurrent with the ships’ dry-docking periods. The procedure will be carried out by Cosco Shipping Heavy Industry (Cosco) under an agreement announced in September 2018.An additional scrubber will be installed on one of the company’s Capesize bulkers after the IMO 2020 deadline, at the request of the charterer, the cost of which will be reimbursed by the charterer.The update was provided by the company as part of its 2018 financial report. Safe Bulkers closed a positive 2018 with a fourth quarter net income of USD 9.5 million compared to a net loss of USD 86.6 million during the same period in 2017. Revenues increased by 24% to USD 52.6 million, compared to USD 42.4 million for 4Q 2017.The company returned to profit in the first quarter of 2018 and staying afloat for the remainder of the year.Net revenues for 2018 increased by 31% to USD 193.2 million from USD 148 million during the same period in 2017. Net income was USD 27.7 million compared to a net loss of USD 84.7 million reported in 2017.“We closed 2018 profitably, having refinanced a large portion of our debt, targeting smooth debt profile for the next five years and gradual deleverage. We acquired one second-hand vessel and one resale newbuild for 2020 and bought back one vessel under sale and lease back agreement. We implement BWTS investments,” Loukas Barmparis, Safe Bulkers president, said.“In view of IMO 2020 sulphur cap regulation we are installing scrubbers in about half of our fleet during 2019, while we have selected to compete on the basis of vessels’ fuel consumption for the remaining part of our fleet.”Safe Bulkers’ operational fleet consists of 41 drybulk vessels, including 14 Panamax class vessels, 10 Kamsarmax class vessels, 13 post-Panamax class vessels and 4 Capesize class vessels.The company also has a post-Panamax newbuild vessel on order. The Japanese-built unit is expected to be delivered within the first half of 2020.last_img read more

Glomar Offshore buys two Bourbon vessels

first_imgOffshore support vessel owner Glomar Offshore has bought two multi-purpose vessels from Bourbon Offshore. Bourbon Amilcar; Source: BourbonGlomar said on Thursday it had bought the 2008-built Bourbon Arethuse and the 2009-built Bourbon Amilcar vessels, which are to be renamed Glomar Worker and Glomar Supporter, respectively.Glomar said that, after modifications and upgrades in its yard in Gdynia, Poland (Globaltic Marine), the vessels will be dedicated to serving the oil and gas and renewables clients in the North Sea and Baltic on subsea and survey projects.In addition, Glomar reported that upgrades on its recently acquired Minkar, Situla and Shaula (ex Halul 10, 11 and 12, all 2002 built) are proceeding and the vessels are expected to be ready to trade by 3Q 2019.The vessels are to be certified as NOGEPA standby units, serving Glomar’s Dutch oil & gas clients.Glomar said: “We would like to thank both previous owners, msrs Bourbon Offshore and Halul Offshore Services, as well as our brokers, Grieg Shipbrokers, for facilitating both transactions successfully.”last_img read more

VIDEO: German influence in offshore wind

first_imgOffshore Wind in Germany has taken a remarkable development in the past decade. With the zero bids in the last tender round, also economics are very attractive. Many companies from Germany have enabled that learning curve and are looking forward to cooperating with other market actors to further advance offshore wind.“We need to talk more about the high capacity factor of offshore wind. Especially in Northwest Europa offshore wind is highly available during autumn, winter and spring when other renewables sometimes are not that abundantly available. Offshore wind can play an important role to secure energy supply at high load season,” comments Jan Rispens, managing director, Renewable Energy Hamburg.Enable sector couplingSo what stands in the way of offshore wind in the energy transition? Rispens notes that it depends on the market and its regulations. In markets with a relative high share of fluctuating renewables like Germany, the main challenges seem to be to enable sector coupling, the improvement of the electricity grid and also storage solution. Grid expansion is a process that takes a long time and needs careful planning by authorities and regulators.“We hope that the grid expansion plan in Germany will lower grid congestion problems. For sector coupling the energy market regulation needs to be improved, as until now green electricity is not economically competitive to use for heating and mobility due to taxation and surcharges.”Defined by government“Grid expansion and sector coupling is largely defined by governments and regulators,” Rispens continues. “They need to prepare for energy systems with much higher levels of renewables in future than today. So providing the right framework is definitely a public authorities task. Innovation is also important as we see that sector coupling technologies or power-to-gas solutions become available increasingly and also increasingly cost effective. Many technologies today are basically available but innovation depends on upscaling markets – just as it was in the wind sector two decades ago.”last_img read more

PCCW and Telecom Egypt Ink PEACE Cable Deal

first_imgPCCW Global and Telecom Egypt recently signed a landing party agreement in Beijing.This agreement will enable the Pakistan & East Africa Connecting Europe (PEACE) cable system to land and cross Egypt, effectively linking Asia, Africa and Europe with a 12,000km ultra-low latency high-speed cable system.The trilateral agreement between Telecom Egypt, PCCW Global and HENGTONG provides for the system to cross Egypt through the new diversified terrestrial routes connecting Zafarana and Abu Talat, where new landing facilities have been constructed.PCCW Global and HENGTONG will cooperate in the PEACE Mediterranean undersea segment of the cable that will then link Egypt to Europe through a landing point in Marseille, France amongst other landing points in the Mediterranean Sea.When complete, the PEACE cable system will provide the shortest and most direct data route from North Asia to Europe.Jordick Wong, senior vice president, Innovation Planning & Procurement, PCCW Global, said, “The PEACE cable system connects the same regions and countries as the legendary Silk Road, and similar to the ‘One Belt, One Road’ initiative, will enhance cooperation and shared economic benefits in the exchange of goods, technology and ideas.”last_img read more