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Queensland’s population hits 5 million people today

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Queensland's population hits 5 million people today
PHOTO: Is this Queensland’s 5 millionth person? Cordy Kerr-Kennedy was born yesterday in Townsville. (ABC News: Mark Jeffery)

Queensland’s population has tipped the 5 million mark today, Premier Annastacia Palaszczuk has told State Parliament.

Ms Palaszczuk said several expectant families were on standby to welcome the state’s five-millionth resident.

“Somewhere today a brand new mum and dad will be eager to meet their new arrival,” she told the house.

“The whole family will want to know: is it a boy or is it a girl? And the doctor will say, ‘congratulations, it’s a Queenslander’.”

Ms Palaszczuk said the two main drivers of the increase were migration growth, particularly from New South Wales, and from 60,000 babies being born in the past year.

Queensland's population hits 5 million people today
PHOTO:
 The state’s five-millionth resident was born today.(ABC North Queensland: Nathalie Fernbach)

“Overseas and interstate migration is up by 50,000 people in the past year, 19,000 came from interstate … more than 12,000, or 230 a week, move from New South Wales to Queensland,” she said.

ABS data also revealed the fastest and largest-growing area in Queensland in 2016-17 was Pimpama on the Gold Coast, which grew by 3,000 people.

Large growth also occurred in Jimboomba on Brisbane’s south side and in North Lakes — a suburb north of the city — which both increased by 2,100 people.

Coomera on the Gold Coast and Springfield Lakes in Ipswich also experienced large growth up 1,400 people.

The State Government’s population counter gives a “synthetic estimate” of the number of current Queenslanders, assuming a total population increase of one person every 6 minutes and 22 seconds.

Earlier this year the Australian Bureau of Statistics (ABS) said Queensland’s population was growing at 1.7 per cent and was projected to tick over to 5 million in May.

ABS data released in March also revealed Brisbane was one of the country’s fastest-growing cities and had increased by 48,000 in 2017, hitting 2.4 million people.

Queensland's population hits 5 million people today
PHOTO: The ABS estimated Queensland’s population was growing 1.7 per cent a year. (AAP: Dan Peled)

ABS demography director Anthony Grubb said the state’s population had “come a long way” in the last century.

“In 1901 the population was half a million; a tenth of what it is today… it took 37 years to hit the 1 million milestone in 1938 and another 36 years to reach 2 million in 1974,” he said.

But Mr Grubb said population growth “picked up the pace” after that, taking just 18 years to reach 3 million then only another 14 years to hit 4 million in 2006.

Queensland could be leading growth state in future

Population demographer Dr Elin Charles-Edwards said although Queensland is not currently the fastest growing state, it is possible it could top the leader board later down the track.

‘Not in the short-term, but Queensland is coming up off a relatively subdued growth so perhaps we might be entering an era of more rapid growth,” she said.

Dr Charles-Edwards said the challenges that generally come with increased population could be managed in Queensland.

“As long as we keep up and don’t take our eye off the ball we can continue to absorb quite high levels of growth… but really it’s keeping up with the infrastructure that’s the key challenge,” she said.

Dr Charles-Edwards said it was important to note some parts of the state, particularly in western Queensland, were experiencing population decline.

“While the south-east corner is growing and also many Indigenous communities are growing, other parts of the state are shrinking,” she said.

“Perhaps we could do more to encourage people to move outside the south-east corner.

“If we were able to work out some way to decentralise our population, growth a little bit further up into the northern regional centres, I think that would benefit the growth of south-east Queensland.”

Source: brisbaneinvestor.com.au

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Queensland Attracts UK Property Seekers

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Queensland Attracts UK Property Seekers

Research by realestate.com.au showed that searches for property in Queensland climbed by nearly a third in December compared to the same period in the previous year. This was driven largely by British people who are flocking to one of the most populous states in the country, according to a report by news.com.au.

The study found that property searches originating from the UK increased 31%, with the Sunshine Coast suburbs of Noosa Heads, Buderim and Mooloolaba as popular picks among potential buyers.

New Farm, Redcliffe and North Lakes, meanwhile, topped the list of the most in-demand suburbs in Brisbane.

Nerida Conisbee, Realestate.com.au chief economist, said Queensland, specifically its beachside properties, held the top spot in terms of total search activity among UK property seekers.

“The Hemsworth impact seems to be impacting the view of Byron Bay with this the most searched by UK property seekers in December 2018 — the number tripling from December 2017,” she said.

Universal Buyers Agents Director Darren Piper said that the chaos surrounding Brexit in Britain was enticing overseas buyers to explore the Australian property market.

“House prices in London have fallen for the fifth quarter in a row. It’s natural for investors to look for safe havens in times of uncertainty,” he said.

Australia’s property market has consistently grown over the past decade, with homes in Sydney, Brisbane and Melbourne reaching record prices.

“It’s the perfect time for people to get their foot in the door and it’s a great time as a homeowner to explore your options, maybe make a move or stay the course,” said Piper.

 

Source: brisbaneinvestor.com.au

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Where it’s cheaper to buy than rent: It’s Ipswich’s time to shine

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Where it’s cheaper to buy than rent It’s Ipswich’s time to shine

SHUT out of the Brisbane market? Don’t despair. You can still bag a bargain in Ipswich as it shakes off its stigma as the city’s poor cousin.

IT HAS played second fiddle to Brisbane for years, but finally, it is Ipswich’s time to shine.

Long regarded as the river city’s poor cousin, the “Switch” has shaken off its stigma and is forging a name for itself as the state’s property bargain capital — where you can get a house for less than your weekly rent.

New figures from realestate.com.au have revealed the suburbs across Queensland where it is now cheaper to buy than rent and eight of the top 20 are in the Ipswich growth corridor.

In Ebbw Vale, where the median house price is $248,500, it works out to be $386 cheaper to own a home in the suburb than to rent one.

cheaper to buy than rent

And in the burgeoning masterplanned community of Ripley, where it costs $1600 a month on average to rent of home, it only costs $1230 a month on average to own one.

It comes as Brisbane’s housing market has recorded its strongest annual rise in rents in three years.

After months of flat growth in rental properties, analysis of the latest CoreLogic data by realestate.com.au shows house rents increased 2.4 per cent in 2018, while the cost of leasing a unit became 2.6 per cent more expensive.

A rare combination of low interest rates, a rising population and fewer investors and new developments is starting to put upward pressure on rents in the sunshine state and industry experts say now is the time for long-term renters to buy.

Realestate.com.au chief economist Nerida Conisbee said the only way was up for rents in the city, as underlying demand in the Brisbane market began to absorb rental supply.

it’s cheaper to buy than rent

Ms Conisbee said she was surprised by the “sheer number of suburbs” in greater Brisbane where it was cheaper to buy than rent.

“There’s quite a large number of them,” she said.

“Now is actually a good time to look to buy because we are looking to see further increases in rental levels.

“The reason being we have fewer new developments going ahead and also fewer investors in the market.”

Caitlin and Bryn Williams decided to buy a home in Ripley when they realised they could pay about the same in loan repayments as they were in rent.

After previously renting in Ipswich, they bought a brand new, four-bedroom house for just over $350,000 in the Ecco Ripley estate, where stage one of the $1.5 billion Ripley Town Centre has just been completed.

“We’re happy not to be renting anymore,” Mrs Williams said.

“What we were paying in rent, we were paying off someone else’s mortgage.”

Where it’s cheaper to buy

Ripley is on track to become Australia’s biggest masterplanned community — home to 120,000 by 2041.

CoreLogic figures show the suburb’s median house price has grown by nearly 20 per cent in the past 12 months.

Mohammad Bassiri of Ray White Springfield Lakes said people were starting to realise it worked out cheaper or just as expensive to buy a home in the Ipswich region as it was to rent one.

Mr Bassiri said a friend of his recently moved from a rental at Springfield Lakes to buy a three-bedroom house at South Ripley for $320,000 because he realised the mortgage repayments were the same as his rent payments.

WHERE IT IS CHEAPER TO BUY THAN RENT IN QLD

Suburb Median house price Monthly loan repayment Monthly rent Difference

1. Lamb Island $110,000 $405 $997 $592

2. Macleay Island $182,000 $669 $1,192 $523

3. Russell Island $165,000 $607 $1,083 $476

4. Kilcoy $272,000 $1000 $1,452 $452

5. Mundoolun $576,000 $2,118 $2,548 $430

6. Laidley $237,500 $873 $1,300 $427

7. Woodford $327,250 $1,204 $1,603 $399

8. Plainland $375,000 $1,379 $1,768 $389

9. Ebbw Vale $248,500 $914 $1,300 $386

10. Ripley $335,000 $1,232 $1,603 $371

11. One Mile $242,500 $892 $1,257 $365

12. Blackstone $314,000 $1,155 $1,517 $362

13. Leichhardt $243,375 $895 $1,257 $362

14. Lowood $251,750 $926 $1,278 $352

15. Brendale $270,000 $993 $1,343 $350

16. Riverview $238,500 $877 $1,213 $336

17. Cedar Vale $498,000 $1,832 $2,167 $335

18. Goodna $310,500 $1,142 $1,473 $331

19. Loganholme $381,900 $1,405 $1,733 $328

20. Redbank $329,000 $1,210 $1,538 $328

(Source: Realestate.com.au)

Originally published as Where it’s cheaper to buy than rent

 

Source: news.com.au

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Labor Unveils $6.6bn Affordable Housing Plan to Build 250,000 New Homes

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Labor Unveils $6.6bn Affordable Housing Plan

Labor has announced a ten-year plan to build 250,000 new homes across Australia, including 20,000 during its first term in government if it wins the election.

The $6.6 billion investment would see 250,000 new homes for low income and working families, key workers such as nurses, police, carers and teachers and women over 55, the fastest emerging group of Australians at risk of homelessness.

Subsidies of $8,500 per year would be offered to investors building new homes in return for cheaper rent for eligible tenants.

Opposition leader Bill Shorten unveiled the multibillion-dollar plan in his address yesterday at Labor’s three-day national conference in Adelaide.

“Building more affordable housing is infrastructure policy. It is cities policy. It is jobs and productivity policy,” he said.

The plan would see a family paying the national rental average save up to $92 each week.

“When you provide an affordable home for hard-working people, you give them the level playing-field and fair start they need,” he said.

Shorten said Labor would work with the states and territories, local councils, and community housing providers to make sure the rollout of homes were built “where they’re needed most” and would “go to the people who need them most”.

“Not foreign investors, nor international students.”

Affordable Housing Plan

 

The new homes would be accessible for all ages and for people with a disability, with Shorten describing the new homes as “more energy efficient, meaning lower power bills”, also offering a rental discount of 20 per cent.

Describing Labor as a “party of home ownership, and a party of affordable housing and community housing”, Shorten used the speech as an opportunity to call on industry super to “step up” and invest in affordable housing projects.

And of course, the opposition leader touched upon the hotly debated campaign election issue: negative gearing.

“This is a boost for renters and for the liveability of our growing suburbs… Alongside our plans to make negative gearing fairer, it will drive a boom in construction jobs and apprenticeships,” Shorten said.

A recent report published by the Australian Housing and Urban Research Institute (AHURI) found Australia needed to triple its social housing by 2036, faced with a shortfall of 433,000 social housing dwellings.

Labor Unveils $6.6bn Affordable Housing Plan to Build 250,000 New Homes

 

Property industry bodies welcome Labor’s announcement

Property Council chief executive Ken Morrison welcomed the incentives, but said they are “no substitute” for the supply of housing which is funded by 2.1 million property investors, “including those who access negative gearing”.

Housing affordability remains a critical issue for many Australians, an issue Morrison says is often overshadowed in the media by Melbourne and Sydney’s cooling markets.

“It makes sense to harness the investment capacity of the private sector to deliver affordable housing,” Morrison said.

“Labor’s incentives for investors to deliver affordable housing will make a contribution to meeting that need while also providing a boost to our construction industry, a key driver of economic activity.”

Planning schemes, land supply, and property taxes, which make up around 25 per cent of the cost of a new house are all part of the housing affordability mix, Morrison added, “there is no single ‘silver bullet’ solution”.

Urban Taskforce chief executive Chris Johnson said many different approaches are needed to tackle the hugely complex housing affordability issue.

“State and territory governments still have a responsibility to ensure that enough appropriately-zoned land is available in inner-ring suburbs to ensure sufficient housing supply,” Johnson said.

“Infrastructure levies must be kept under control to ensure that these do not add to the cost of housing production.”

 

Source: brisbaneinvestor.com.au

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