Apartment sales down but bargains to be found as developers wait and see

first_imgInvestor demand for Brisbane apartments has waned, but owner occupiers are still active. Picture: Marc Robertson.Urbis anticipates that project launches won’t see any drastic increase, however sales figures are not expected to register further decline. “It is a competitive market because there is still product in the market,” Urbis director property economics and research Paul Riga said.“In coming quarters we’re tracking another four to six projects likely to launch in the coming six months. “That will add more choice to the market, and on that basis, we would expect sales to move higher.” MARGOT ROBBIE’S SECRET WEDDING ESTATE FOR SALE Mr Riga said it was positive to see that while investor activity had slowed in the inner Brisbane apartment market, owner occupiers were still active.“A large proportion of owner occupier sales were in recently built or soon to be completed developments,” he said. “Generally, owner occupiers are looking for a home, they want to be able to see the finished product before committing.” Urbis director property economics and research Paul Riga.Unlike the previous quarter, where 46 per cent of sales were in projects in a presales phase, this quarter 55 per cent of sales were in recently built and settled developments. Only 15 per cent of sales were in presales developments.More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours agoMr Riga said the decline in presales purchases was largely due to the lack of new projects launching to the market, with only three new projects yielding 146 apartments launching in Brisbane during the March quarter. And only 306 apartments were approved for development in the first three months of this year — in line with the low level of projects coming to the market. THE BLOCK’S BACKPACKERS’ MAKEOVER A GOLDMINE High-rise apartments in Brisbane. Picture: Mark Calleja.More than 4700 apartments, including in sold-out projects, are expected to settle across inner Brisbane by the end of the year.Mr Riga said many “savvier” developers were working behind the scenes with buyers, agents and valuers to ensure settlements were on track.“Many developers are monitoring to see how these settlements go before deciding to launch anything new to the market,” he said.“I haven’t heard reports of too many drastic issues when it comes to settlements.”Despite the lack of new projects, demand for the right product at the right price was still there, with a number of projects pending launch gathering interest from prospective buyers. “From our conversations within the market, we know that there has been solid interest and sales in recently built stock which has had to be resold, indicating that demand hasn’t disappeared and buyers are still active,” Mr Riga said.BRISBANE APARTMENT MARKET SNAPSHOT*154 sales in the March 2018 quarter, down from 252 sales in the previous quarter*Average sales price for the quarter remained steady at $680,195*Two-bedroom, two-bathroom product made up the majority of sales at 58% *Only three new projects yielding 146 apartments launched in the quarter*Owner occupier transactions made up the majority of sales at 34% sales(Source: Urbis)center_img Brisbane apartment sales almost halved in the March quarter, a new report reveals. Photo: Adam Armstrong.APARTMENT sales have almost halved in Brisbane as fewer new projects are launched to market and developers adopt a wait-and-see approach, a new report has found.It’s good news for first home buyers and downsizers hunting for a bargain, with the slowdown keeping a lid on unit prices.And while investor demand has waned, the appetite for units in the Queensland capital is still strong among owner-occupiers, who made up the majority of sales during the March quarter. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE The latest Urbis quarterly apartment report reveals 154 apartments were sold in the first three months of this year — down from 252 sales in the previous quarter.Owner occupier transactions made up 34 per cent of sales, overtaking foreign investor purchase, which accounted for 28 per cent of sales.The average apartment sale price remained steady at $680,195.last_img read more

Nine West Indians among 140 retained for next IPL season

first_imgMUMBAI, India (CMC) – Nine West Indies Twenty20 stars that have enriched the lucrative Indian Premier League (IPL) have been retained for next season, organisers announced yesterday.Superstars Chris Gayle and Dwayne Bravo, as well as current West Indies T20 captain Carlos Brathwaite headline the list. They are included among 44 overseas players of the 140 in total kept when the window for the eight franchises to retain players for the coming season closed on December 15.Current West Indies Test and One-day International captain Jason Holder and fellow fast bowler Jerome Taylor are the only two West Indians who were part of the IPL last season that were cut, being dropped by Kolkata Knight Riders and Mumbai Indians respectively.Gayle and leg-spin bowler Samuel Badree were retained by Royal Challengers Bangalore which lost the Final this year against Sunrisers Hyderabad.Gayle and Badree are two of 20 that RCB have retained at a cost of close to US$9 million and will help to form the same core of players that played last season.Bravo and his namesake Dwayne Smith have been kept by Gujarat Lions which retained 16 players at just over US$8.5 million, but also off-loaded eight players including star South Africa fast bowler Dale Steyn.Brathwaite regained his place with the Daredevils, as one of five overseas players retained among the 18 at a cost of close to US$7.5 million.Though they may have parted company with Holder, the Knight Riders have however, held on to spinner Sunil Narine and all-rounder Andre Russell, as two of four overseas players retained as part of a group 14, costing a little over US $7.7 million.The Indians have kept big-hitting Kieron Pollard and compatriot Lendl Simmons among six overseas players that help to form the 20 which the franchise retained at a hefty price tag of just over US$9 million – the highest of the franchises.RCB and the Indians have retained 20 – the highest number of players – and KKR have retained the least number of 14.Rising Pune Superstars released 11 players – the highest number – but Kings XI Punjab still have the biggest cap space of close to US$3.9 million to spend on bringing new playing resources to the franchise.last_img read more

Trojan Family praises 11th USC president

first_imgAfter two months in office, university President C.L. Max Nikias’ leadership and communication with students has received positive reviews from student leaders and administrative officials.Hands on · President C.L. Max Nikias has met with the Undergraduate Student Government to discuss students’ goals and concerns for the year. – Tim Tran | Daily Trojan Nikias took office on Aug. 3, but will be inaugurated today as the university’s 11th president.“He really cares about the experience students have at this university,” said Nehi Ogbevoen, vice president of the Undergraduate Student Government. “He understands that we are truly here for more than a degree, but this is also where we eat, sleep, network and learn outside of the classroom.”Ogbevoen said Nikias has taken the time to sit down with USG and discuss student concerns.Nikias has also been receptive to graduate students, said Graduate and Professional Student Senate President Jenny Novak.“After his appointment to office he called a meeting to meet with the GPSS Exec Board regarding our agenda for the upcoming year and our greatest concerns as graduate students,” Novak said. “I have been impressed by his accessibility and his enthusiasm for his new position.”Novak said the president has supported GPSS’ goal of providing housing for first-year graduate students, along with other projects.“We would like to work with him to expand summer funding opportunities for Ph.D. students, as well as give graduate students more teaching opportunities on campus to make us more competitive on the job market,” she said.Administrators said they have also felt that Nikias is an effective leader who is willing to connect with all members of the university.“On a personal level, his energy and enthusiasm for USC are really incredible,” said Jean Morrison, executive vice provost for academic affairs. “He understands the DNA of the university and because of that is able to lead the university to really great new places.”The president sponsored a welcome event for Ph.D. students and scholars that was an important occasion to speak to students, Morrison said.“He really gets the fundamental character of USC,” Morrison said. “We are incredibly fortunate to have Max Nikias as our new president.”At the beginning of his presidency, Nikias said one of his goals was to regularly connect with students by hosting afternoon teas, of which student leaders said they have enjoyed.“He has been more than willing to take time of his extremely busy day to sit down with us and listen to issues that we find important,” Ogbevoen said. “I love the intimate teas that he has with students, really makes us feel special. It is amazing how receptive he is with our ideas.”Jonathan Munoz-Proulx, a senior majoring in theatre, said Nikias has been influential in many aspects of the university, from engineering to arts.“I’m a huge fan of President Sample,” Munoz-Proulx. “I didn’t think it could ever get better, but Max Nikias is doing an incredible job.”last_img read more

NBA Draft 2019: Cavs owner Dan Gilbert gives OK to be aggressive in his absence

first_imgAnother area Cleveland’s front office will pick up involves trade talks around guard JR Smith, who made it known last November that he wants to be moved. In the past, Gilbert has given general manager Koby Altman and his staff “the freedom to go into the luxury tax by taking back a hefty contract.” The one caveat to that, though, is Gilbert wants it to come with at least one future asset. While speculation around Smith’s future has died down a bit since his trade request, the Cavaliers still have been fielding calls for Smith. It’s not clear how long it will take for Gilbert to make a full recovery. The company he founded, Quicken Loans, released a statement Wednesday, saying Gilbert’s recovery will “take time.” He underwent a catheter-based procedure and then was admitted to the Intensive Care Unit. According to cleveland.com, which cited unidentified sources, Gilbert “gave the front office the go-ahead to be aggressive” in making roster moves, even if it means taking on more salary. Cleveland.com notes the Cavaliers’ payroll was around $123 million this past season, and the franchise has committed about $134 for the upcoming season, which is expected to be one of the highest in the league.Gilbert also knows how Cleveland will approach making selections for its two first-round picks (No. 5 and No. 26) with the desire to purchase a second-rounder.  Related News NBA Draft 2019 rumors: Lakers ‘active in trade talks’ surrounding No. 4 pick Dan Gilbert wants his franchise to be aggressive in the NBA Draft at the end of this month, even in his absence. The Cavaliers owner suffered a stroke May 26 and remains hospitalized, but Cleveland’s front office intends to move forward with the offseason plan that Gilbert helped create before he was hospitalized. NBA Draft 2019: What will the Lakers do with the No. 4 pick? NBA Draft 2019: 76ers hoping to pick player at No. 24 who will ‘contribute right away’ “Dan’s recovery is a process that will take time — but we are all confident that he will meet this challenge head on as he always does,” Quicken Loans CEO Jay Farner wrote.Since Gilbert took over in March 2005, the Cavaliers have made five NBA Finals appearance and won the 2016 title.The 2019 NBA Draft will take place June 20 at the Barclays Center in New York.last_img read more

South, Charlestown consistent in ExxonMobil Girls’ tournament

first_imgThe under-14 girls who were afforded the opportunity of being a part of a new tournament continue to prove why girls should be more involved in the sport, as they concluded yet another exciting round of matches on Saturday.Although this round proved to be the most challenging one yet, the young ladies persisted on the muddy playing field and surprisingly produced three of their highest scoring encounters yet.Things got off to a thrilling start when Dolphin Secondary and South Ruimveldt Secondary met. Coming off of a win in the previous round, South Ruimveldt were quick to produce two goals within the first 20 minutes of the encounter. The half-time break seemed to be fruitful for the Dolphin ladies, as they found the back of the net twice in succession to level the score at 2 all.With defences tightened and strikers out for blood, it was the South Ruimveldt team which eventually got the upper hand with a surprising late goal to win the match up.On the other half of the playing field, New Campbellville Secondary was locked in a nil all encounter with Tucville Secondary for the entire first half. It was Alicia Maynard who ultimately netted the lone goal of the match to hand another win to the New Campbellville side.After suffering a loss to the dominant Charlestown team in the previous round, the East Ruimveldt girls were hungry for a win when they met with Vergenogen Secondary. East Ruimveldt showcased improved offensive and defensive tactics, hence it was not surprising when they cruised to a 2-0 win.Meanwhile, Charlestown Secondary administered a thrashing on an unstable Uitvlugt team. Yet to lose a match in the tournament, Charlestown seemingly had an easy time against this West Demerara side, all of their players pitching in to orchestrate a 4-0 victory against Uitvlugt.Goal ScorersDolphin SecondaryKezia ParkinsonNiomi WilliamsSouth Ruimveldt SecondaryLatesha Sutherland (2)Amanda McKenzieNew Campbellville SecondaryAlicia MaynardEast Ruimveldt SecondaryGilana KingTamara MendoncaCharlestown SecondaryTynesha Thorne 10Donna Lowe 19Annera Alim 24Akilah Koster 39last_img read more