People moves: Former USS CIO to chair UK infrastructure fund (updated)

first_imgGresham House, BSIF, VFPK, PensionDanmark, VFPK, BPL Pensioen, Pensioenstichting Transport, GroupLife, Penvita, Mercer, VvV, Aegon, Willis Towers WatsonGresham House – Peter Moon is stepping down from the alternative asset manager’s board to become chairman of the investment committee of its patient capital fund for UK housing and infrastructure-related assets, the British Strategic Investment Fund (BSIF). Moon was chief investment officer of the now £60bn (€67bn) Universities Superannuation Scheme (USS) for 17 years, retiring in 2009. Before USS he used to manage investments at the British Airways Pension Scheme and the then National Provident Institution (now Phoenix Life). Moon joined the board of Gresham House in July 2014 and helped oversee the manager’s transformation under a new management team.He will be replaced on the board by Simon Stilwell, who joined Gresham House as a non-executive director this week. Stilwell was chief executive of Liberum, the investment bank he co-founded in 2007, until 2015.  The Royal County of Berkshire Pension Fund, which has a 20% stake in Gresham House, is a cornerstone investor in BSIF. The fund raised £150m in commitments from Berkshire and another UK local government pension scheme for a first close in June. Gary Steinberg, former CIO of the International Monetary Fund and the Wellcome Trust, has been working alongside Moon on the investment committee of the incipient fund.LGPS Central – Five new senior hires have been made by the asset management company set up to manage the £40bn of assets of nine Midlands-based local government pension schemes (LGPS). Mike Vinton joins as chief compliance and risk officer, Sharon Johal as general counsel, David Kane as head of finance, David Evans as investment director for passive equities and Adam Neilson as head of information technology. Vinton was most recently head of compliance and money laundering reporting officer at Nestlé Capital Management Limited, while Johal was previously head of legal at Kuwait Investment Office. They complete LGPS Central’s senior executive team, which also comprises Andrew Warwick-Thompson as CEO, John Burns as chief operating and financial officer, and Jason Fletcher as CIO.Verband der Firmenpensionskassen (VFPK) — The board of the association of German corporate pension funds has been reorganised following the death of its head, Peter Hadasch. Helmut Aden, member of the board of BVV, has succeeded Hadasch as chairman. Carsten Ebsen, of the Hamburg Pensionskasse, has taken over the role of first deputy chair and Andreas Hilka, member of the board of at the €7.9bn German Hoechst Pensionskasse, that of second deputy chairperson. Hilka is the newest member of the VFPK board, having been elected to his role in July. Aden has been a VFPK board member since 2006 and Ebsen since 2011. One of the founders of the VFPK, Hadasch died in October aged 64. PensionDanmark — Emilie Juel-Helwig has been appointed to the newly-created position of head of corporate sustainability at PensionDanmark, having been promoted from her job as personal assistant to the chief executive Torben Möger Pedersen.  The Danish pension fund explained that until now it has primarily worked with sustainability from an investor perspective. From now on, as head of corporate responsibility, Juel-Helwig will represent PensionDanmark on a broader sustainability agenda. This will include corporate social responsibility and the task of integrating the sustainability agenda and the UN’s Sustainable Development Goals into the pension fund’s core business.BPL Pensioen — Monique van der Poel has been appointed on the supervisory board (RvT) of the €16.6bn pension fund for the agricultural sector (BPL Pensioen). She will focus on communication, pension management and legal matters. Van der Poel is a pensions lawyer and is also a member of the RvT of the €780m industry-wide scheme for dental technicians (Tandtechniek).Pensioenstichting Transport – Jeroen Tuijp has been named as member of the supervisory board of the €1.1bn company pension fund of delivery firm DHL. Tuijp is actuary, adviser as well as supervisor at consultancy Edmond Halley.GroupLife — Penvita, which offers eduction for members of Dutch pension funds’ accountability bodies (VO) is to be fully taken over by GroupLife, a consultancy for pension fund strategy and education. Penvita’s founders Kees de Wit, former board member of the €8.6bn pension fund PWRI and Dick van Haaster, former employee chair of the €6.8bn sector scheme for painters and decorators (Schilders) remain tutor and adviser for the VO education business. GroupLife had already become co-owner of Penvita earlier this year.Mercer — The consultancy has appointed Tony Miller as leader, investment sales solutions in the Netherlands as of 1 January, becoming responsible for the asset management sales strategy for pension funds and insurers. Tiller joins from LGT Capital Partners where he is head of sales for Benelux. Prior to this, he worked at ING Investment Management. Tiller is to co-operate with Jacco Maters, who will head Mercer’s financial sector clients team. In addition to actuarial pensions advice, Mercer is increasing its focus on asset-liability management (ALM) as well as investment services.VvV—Willem van Duin, executive chairman of Achmea, has been named as new chair of the Dutch Association of Insurers (VvV) as of 20 June 2018 for a two-year period. He will succeed David Knibbe, chief executive of Nationale-Nederlanden, who has been the VvV’s chair since December 2015.Aegon – William Connelly is to become chairman of the supervisory board of the Dutch provider of life insurance, pensions and asset management services. He will replace Robert Routs, who has decided to step down at company’s next annual general meeting in May. Routs will have served on the board for 10 years by then. Connelly, a French national, has been a member of the supervisory board since May last year. Connelly’s appointment as chairman has been approved by the Dutch central bank. Willis Towers Watson – Alberto Gallego has been named head of Iberia, a role he will continue alongside that of head of corporate risk and broking for western Europe. He starts his new role in January, replacing Anton Serrats, who will take on the role of vice president of Willis Towers Watson Iberia. Gallego joined the consultancy in 1990 and has held several senoir leadership positions since then.last_img read more

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​PRI co-founder says Norway’s sovereign fund must exit oil and gas stocks

first_imgOne of the authors of the UN’s Principles for Responsible Investment (PRI) is calling on Norway’s finance ministry to let the country’s sovereign wealth fund divest its holdings in international oil and gas companies.In an open letter to finance minister Siv Jensen, Carlos Joly argued that the country’s reliance on such energy sources risked turning Norway into “a has-been rich country”.Joly, a fellow of Cambridge University’s Institute for Sustainability Leadership, co-chaired the expert group that drafted the PRI.In the letter – which appeared yesterday on the website of the publisher Social Europe – Joly said: “Unless Norway starts to get ready for the world of 2030 and 2050, if it keeps going for the short-term gains by investing in pumping all the oil and gas it can manage and exploring for more, it will end up a has-been rich country. Carlos Joly, University of Cambridge“The NBIM should be allowed to divest of all its energy sector holdings excepting solar, wind and other non-carbon-emitting energies,” he said, adding that nuclear energy should also be off limits.Joly argued that Norway’s economy was far too dependent on oil, putting future generations of Norwegians at risk as national, regional and global policies to lower carbon emissions take effect.He added: “Furthermore, is continuing full-on oil exploitation consistent with Norway’s legal and moral obligations as signatory to the UN SDGs [Sustainable Development Goals] and to the Paris Climate Accord?”Norway’s finance ministry launched a consultation on the commission’s findings on 28 September. The deadline for submissions is 28 November. “Letting the [fund] divest of international oil and gas companies is a step in the right direction and a strong signal to investors, companies, and other governments around the world.”In November 2017, Norges Bank Investment Management (NBIM), which manages the NOK8.3trn (€873bn) Government Pension Fund Global (GPFG), wrote to the ministry recommending selling off more than NOK300bn worth of oil and gas equities on the grounds that such a move would reduce Norway’s overall exposure to the risk of a permanent fall in energy prices.However, at the end of August, a commission set up to investigate the matter argued against such a divestment, saying it would not be an effective insurance against such a scenario. Joly – a former fund manager with Natixis – urged Jensen to agree with NBIM and discard the commission’s view.last_img read more

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London pension schemes abandon Allianz equity fund [updated]

first_imgThe pension fund’s decision followed Ealing Council’s redemption of more than £300m and Wandsworth’s withdrawal of £234.5m, both in April 2018.The fund was the first to be launched by the London CIV when it opened for business in 2015.The Islington pension scheme plans to transfer its investment to a sustainable equity fund within the London CIV, managed by RBC. According to a spokesperson for Allianz, this was scheduled to be enacted this month.However, the London CIV is still trying to reclaim £1.5m in withholding tax charged to the Allianz fund, which would then be paid to Islington. It is working with custodian Northern Trust to reclaim the tax.According to Islington council documents, the Allianz fund posted an 11% return in the 12 months to the end of March 2019, but this lagged its performance target – 2% above the MSCI World index – which was 12.6%. However, since it was first appointed in January 2009, the Allianz fund outperformed its target by 0.12% a year.The London CIV offers 15 funds for use by the borough council pension funds, including eight equity funds and four multi-asset portfolios. Most recently, it named StepStone as its first infrastructure manager in March.In total, the London CIV has pooled roughly £8.5bn of the boroughs’ £38.2bn in total pension assets, according to an update from the pool dated 14 June 2019.The London CIV had not responded to requests for comment at the time of publication.This article was updated on 22 August to clarify that, while StepStone has been appointed to manage infrastructure investments for London CIV clients, no fund has yet been launched. The first pooled fund launched by the London CIV has been abandoned by its founding investors.The asset pooling company formed by London’s 32 public sector pension funds is weighing options for the LCIV Global Equity Alpha fund, run by Allianz Global Investors, after the £1.4bn (€1.5bn) Islington Pension Fund decided to withdraw its investment.Islington’s investment in the Allianz fund was worth roughly £124m as of 31 March 2019, according to council documents.last_img read more

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APG and others outline stance on BP net-zero ambition, delivery

first_imgIn their statement, the investors said they welcomed this as a response to last year’s Climate Action 100+ shareholder resolution, and also expressed their support for BP’s reporting on the consistency of new material capital expenditure investments with the goals of the Paris Agreement, in line with the 2019 AGM resolution.‘Ground-breaking’ According to the investors, this reporting “breaks new ground by developing by developing a profitability and carbon intensity test for projects under conditions which BP believes are consistent with the Paris goals”.They cautioned that the assumptions underlying this test should be kept under careful review “given the possibility that the COVID crisis may have brought forward peak oil”.“We also look to forward to building on our constructive engagement in this area, exploring how to ensure that capex is also consistent with carbon budgets aligned to BP’s journey to net-zero,” they added.The investors also said they would “welcome more clarity” on BP’s short and medium-term targets aligned to its net-zero ambition, such as greenhouse gas emissions targets for energy produced and sold (Scopes 1-3), the links to remuneration, and planned levels of investment in traditional oil and gas and low carbon technologies.“Providing a roadmap and aligning capital expenditure with a finite carbon budget are clear indicators to investors of a shift in company strategy”Steve Waygood, chief responsible investment officer at Aviva Investors“We commend BP for setting out its net-zero ambition,” said Steve Waygood, chief responsible investment officer at Aviva Investors.“Providing a roadmap and aligning capital expenditure with a finite carbon budget are clear indicators to investors of a shift in company strategy, providing milestones against which to assess progress. We look forward to continuing our engagement with BP to ensure that capex remains consistent with its goal to reach net-zero by 2050.”*Full list of supporting investors: APG Asset Management, Aviva Investors, AXA Investment Managers, BMO Global Asset Management on behalf of its advisory clients, EOS at Federated Hermes on behalf of its stewardship clients, HSBC Global Asset Management, Kempen, Legal & General Investment Management, Local Authority Pension Fund Forum, M&G Investments, Newton Investment Management, PGGM, and UBS Asset Management.Looking for IPE’s latest magazine? Read the digital edition here. Major global institutional investors involved in collaborative engagement with BP as part of Climate Action 100+ (CA 100+) have publicly set out their perspective on the company’s commitment to become a net-zero oil and gas major, welcoming “ground-breaking” reporting on capital expenditure but pledging further attention to the company’s spending.APG Asset Management, Aviva Investors, Legal & General Investment Management, PGGM and UBS Asset Management are among those* putting their name to statement that has been drafted “for consideration” upon the occasion of BP’s annual general meeting tomorrow.Due to the coronavirus and government guidance on social distancing, the AGM will be a closed meeting and will be live streamed on the Internet. Investors will not be able to participate, but chair Helge Lund is expected to acknowledge the investors’ statement when he addresses the meeting.The investors’ statement follows BP in February announcing a net-zero “ambition”, with then new chief executive officer Bernard Looney saying it would provide details about how it planned to deliver on that in September, when it holds a capital markets day.last_img read more

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Southerners moving north

first_imgPaul Fotinos, Orchard sales manager and Shawn Boyd, managing director Elements North Queensland, pictured at the Orchard Estate. Picture: Shae Beplate.BUYING activity is on the rise at residential estate The Orchard as out-of-towners make the move north, lured by employment opportunities and a more relaxed lifestyle.People from southern cities in medical fields, the defence force and resources sector are migrating north in increasing numbers.The Orchard has become an attractive option, as the estate provides an easy connection to Townsville Hospital and Lavarack Barracks via the Ring Rd.Orchard sales manager Paul Fotinos said they’d had everyone from nurses to defence force personnel buying land and making the move north to Townsville.“We’ve had three in the last month and we have another three who will probably go under contract this month,” he said.“We were at the Townsville Expo last weekend and we met a lot of people who were from out of town and keen for a change.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“I’ve actually got one older guy I’m working with who wants to move to Townsville for the fishing.“I’ve noticed in the last fortnight (that) particularly the phones, email and social media channels have been busier with inquiries and a lot of that is from people who don’t currently live in Townsville.”The Orchard is located on Darling Rd in Jensen and was developed by Element NQ as a large-lot, masterplanned community.Stage one is now selling with lots available from 1000 sqm to 2200 sqm.The larger sized lots mean residents have room for boats, sheds, caravans or swimming pools, while the community has a semi-rural feel.Mr Fotinos said he hoped more out-of-town buyers meant Townsville was starting to return to its heyday of 10 years ago when people were moving to the area chasing warm weather and an idyllic lifestyle.“There is a definite change that is coming and inquiry has really picked up,” he said.“Because a lot of these buyers aren’t from Townsville they don’t buy into the negativity.“Ten years ago when I was working with Elements NQ we were regularly seeing people moving up here from down south and it was really common and now we’re just starting to see that trickle of it happening again.”last_img read more

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Regional suburbs record double digit capital growth

first_imgREIQ CEO Antonia Mercorella“Idalia in Townsville ranks 11th on the state list and first on the Townsville LGA list,” she said. The other Townsville suburbs to make the top 68 were Rasmussen (+19.9), North Ward (+15%) and Railway Estate (+10.1%). Keyes and Co Property agent, and former Townsville City councillor, Tony Parsons, said there were suburbs doing well, and others that were still struggling, but there were positive signs in the local property market. View of Castle Hill in Townsville. Picture: Zak SimmondsTOWNSVILLE has emerged as a star performer in regional Queensland, with four suburbs recording double digit growth. REIQ has revealed the 68 suburbs that recorded double digit growth in the 12 months to June.Twenty-seven of those 68 top performing suburbs were outside of the southeast, with Townsville dominating the regional listings.REIQ CEO Antonia Mercorella said Idalia (+21.3% to $485,00 as of June) was a rapidly expanding suburb, located just 10 minutes from the Townsville CBD, and offering access to shopping centres, restaurants, beautiful landscaping around parks, lakes and the Ross River.It is dominated by older houses and luxury new homes, with properties ranging from the “low to mid $300,000s” to over $1 million. This four bedroom house at 47 Springside Terrace in Idalia is on the market for $868,000 and is listed with Keyes & CoHe said Idalia ticked a lot of boxes for families, but he was not surprised by the city’s other top suburbs with two of them “fringe suburbs” of the new stadium under construction. Blackwater (1st) +151.3%Collinsville (3rd) + 46.2%Miles (7th) +23.5%Dundowran Beach (9th) +21.5%Idalia (11th) +21.3%Rasmussen (12th) +19.9%Biloela (14th) +18.6%Burnett Heads (15th) +18.1%North Ward (24th) +15%Palm Cove (26th) +14.3% (Source: REIQ QMM report June 2018. ) *** More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoAustralian hydrofoil championships off The Strand, Townsville.Meanwhile, Cairns and Gympie had three suburbs on the list of top performers. Palm Cove was the best performer in Cairns, ranking 26th overall. Cooloola Cove in Gympie ranked 42nd, with house prices up 12 per cent to $317,500 in June 2018. In the Whitsundays region, only Collinsville, a coal town southwest of Bowen, made the list, taking out third spot overall.Ms Mercorella said Collinsville recorded an annual capital growth for houses of 46.2 per cent, taking the median sales price to $95,000 in June.Other regions reporting at least one suburb on the list were Bundaberg, Toowoomba, Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs.“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.In terms of price, the REIQ analysis found that two very different brackets dominated the list — below $350,000 and above $500,000 but below $750,000. “Eighteen top performing suburbs reported a median house price range below $350,000,” Ms Mercorella said. “Most of these suburbs are located in regional Queensland.”Similarly, 18 top performers reported an annual median house price range between $500,000 and $749,999 … 13 of these suburbs are located in the southeast corner.“Only 8 top performing suburbs reported an annual median price range above $1 million. All these suburbs are located in Brisbane, Noosa or the Sunshine Coast LGA.”*** TOP 10 PERFORMING REGIONAL QUEENSLAND SUBURBS, RANKING/1 YR CAPITAL GROWTH North Queensland Stadium under construction in September 2018 Townsville“North Ward and its proximity to The Strand speaks for itself, and Railway Estate has some of that character housing stock that many couples are keen on, those reno jobs.”As for Rasmussen, the suburb has benefited from a number of new housing estates including a Defence Housing Australia development, and the duplication of Riverway Drive. Mr Parsons said buyers could still get a bargain. last_img read more

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FNQ’s most ‘clicked’ properties of 2018

first_imgNinth most clicked property in FNQ. 1 Wharf St, Port DouglasThe home was sold in 2007 for $10 million and is owned by John and Marillyn Morris.Seven campaigns have failed to find a new buyer for the home which includes a two-bedroom gate cottage. GET ALL YOUR NEWS ALL MONTH FOR JUST $5 5. 6 ESCAPE CL, CLIFTON BEACH 6. 58 JAMIESON ST, TRINITY BEACH 7 . 24 MACARTHUR CL, PALM COVE 8. 39 OXLEY ST, EDGE HILL Pool with a view at 1 Wharf St, Port DouglasConstructed 30 years ago, the 940sq m interior has undergone a contemporary makeover adding almost every conceivable modern convenience.There are four guest bedrooms, three with an ensuite, and a secluded ground level master residence with north-facing bedroom and a luxuriously-appointed ensuite which adjoins a private living area and study. There are stunning 180 degree views across the Coral Sea and Great Barrier Reef Low Isles to Thornton Peak.The second most viewed home in Far North Queensland was a hilltop shack built in Italian Renaissance architectural style in Cairns’ leafy suburb of Whitfield.With 1,441sq m of living areas across two levels, 21 Knott Crt enjoys an unmatched position covering almost 7000sq m of some of Cairns’ most prized residential real estate, high in the foothills of the Whitfield Ranges. Timber cabinetry throughout.The property has never changed hands, although it was listed for sale in 2015, 2016 and 2017.Mr Quaid said the timing and conditions were now right to find a new buyer. (Cairns and Douglas local government areas) It is still on the market with Queensland Sotheby’s International Realty Port Douglas agent Barbara Wolveridge and has been since February this year.Price is on application. 21 Knott Court, Whitfield. Colliers International CairnsStunning 5m high ceilings in the central living area lead to panels of hand selected timber in the cabinetry built throughout the six-bedroom, seven-bathroom home.Colliers International Cairns prestige sales agent Tom Quaid said the home was more than double the size of a typical block of land.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days agocenter_img Views over Cairns.The home includes a self-contained guest apartment, two timber panelled offices, gymnasium, music room, formal and informal dining and an eight-car underground garage with workshop. 1. 1 WHARF ST, PORT DOUGLAS 2. 21 KNOTT COURT, WHITFIELD 3. 5 PLANCHONELLA CL, EDGE HILL 4. 37 BEACHFRONT DR, PORT DOUGLAS A LUXURIOUS five-bedroom, six-bathroom mansion with north-facing ocean views from one of Australia’s most exclusive resort towns was the region’s most popular property listing of 2018.New data released by REA Group has revealed the most popular property listings by clicks for 2018, and, in Cairns and Douglas local government areas, 1 Wharf St, Port Douglas was a stand out. In the top 10 – 114A Hillview Cr, Whitfield. 9. 10-12 RAMSEY CL, KEWARRA BEACH 10. 114A HILLVIEW CRESCENT, WHITFIELD TOP TEN MOST CLICKED PROPERTIES IN FNQlast_img read more

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Brisbane house price median hits new high: What’s your home worth?

first_img TOP GROWTH SUBURBS FOR HOUSES IN BRISBANE LGA IN DEC 2019 QTR The Real Estate Institute of Queensland’s quarterly market monitor, released today, reveals the strong result was mainly driven by the inner-city market, where the median house price jumped by 7.6 per cent to $850,000.Inner-city suburbs such as Petrie Terrace, Highgate Hill, Coorparoo and Windsor recorded double-digit house price gains, while the middle-ring suburbs of Enoggera and Fig Tree Pocket also outperformed.It comes as some prestige agents say Brisbane’s high-end housing market is hotter than ever, despite concerns around the impact of the coronavirus. Ray White New Farm principal Matt Lancashire has inked seven sales over $4 million in 2020 — his strongest start to a year — with four of those sales transacting after COVID-19 started to spread. 6. Kangaroo Point $1.1m 8.8% 19.6% 7. Fig Tree Pocket $1.12m 8.3% 6.7% 8. Wilston $1.06m 8.2% 20.5% Suburb Annual median price Quarterly change % Annual change % 15 Syntax Street is in Sadliers Crossing, the top median house price grower in the Greater Brisbane region.More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours ago 15 Syntax Street, Sadliers Crossing, is on the market looking for offers over $289,000.There was also significant infrastructure investment in Brisbane LGA during the December quarter.A new Roma Street Cross River Rail Priority Development Area (PDA) was declared to support the renewal of the inner-city transport precinct.State development, manufacturing, infrastructure and planning minister Cameron Dick said the 32ha PDA would fast-track the delivery of the new underground Cross River Rail station.“The New Cross River Rail Roma Street station will be the city’s pivotal arrival point, linking passengers with the existing interstate and suburban rail, the busway station and proposed Brisbane Metro station,” Mr Dick said.“There will be unique opportunities for urban development, economic stimulation and job creation. It will provide critical public transport connectivity between the precinct and the city centre and to the nearby neighbourhoods of Petrie Terrace and Spring Hill.”“This is a purpose-built facility to suit the cruise industry. We’ve worked very closely with the cruise lines and other stakeholders from the start of the process to ensure it delivers a seamless experience for travellers starting or finishing their journeys,” he said. Palmer wants special pontoon permission MORE: Cheapest mortgages in history for Aussie homeowners 1. Petrie Terrace $920,000 14.3% 17.9% 84 Princess Street is in Petrie Terrace, the suburb which had Brisbane council region’s top median house price growth in the December quarter. The house is on the market looking for offers over $899,000.“I have a database of every buyer who has ever inquired with me on any property over $5 million, so I have a database of 1660 prestige buyers,” Mr Lancashire said. “And there are some serious buyers looking.”Buyer confidence and a lack of listings has been fuelling demand, with the REIQ research showing the number of properties listed for sale in Brisbane dropped sharply in 2019 — down 9.8 per cent compared with the previous year.That means buyers are competing for fewer properties, as well as having to contend with a resurgence of investors and first-home buyers.REIQ CEO Antonia Mercorella said the record result was a reflection of stronger market conditions over the quarter, thanks largely to lower interest rates, less conservative lending criteria and a rebound in buyer demand.“It’s the first time (the median house price has) had a seven in front of it,” Ms Mercorella said. “I think that’s a significant breakthrough. Daniella and Benjamin Davis, with their boys Tyler, 8, and Houston, 7, are selling their house in Coorparoo, which is one of the suburbs that has recorded strong house price growth in Brisbane. Photographer: Liam Kidston.BRISBANE house prices have hit a record high thanks to cheap money, a bounce back in buyer confidence and a sharp drop in listings, but Queensland’s peak real estate body warns there are fresh hurdles ahead.The median house price for Brisbane’s local government area increased 3.6 per cent in the December quarter to an all-time high of $703,000 — breaking through the $700,000 ceiling for the first time. Suburb Annual median price Quarterly change % Annual change % TOP GROWTH SUBURBS FOR UNITS IN BRISBANE LGA IN DEC 2019 QTR 1. Sadliers Crossing $357,500 12.6% -2.7% 2. Kurwongbah $685,000 12.3% 14.6% 3. Highvale $1.05m 11.1% 15.4% 4. Godwin Beach $507,500 9.7% 10.3% 5. Samford Valley $987,500 7.6% 5% 6. Wamuran $625,500 6.9% 1.7% 7. Woodend $405,000 5.2% 18.2% 8. Basin Pocket $265,000 5% 2.9% 9. Yamanto $398,000 4.5% 11.8% 10. South Maclean $590,000 4.4% 7.5%(Source: REIQ) Across Greater Brisbane, Logan, Moreton Bay and Redland all recorded falls in their median house prices over the year. The median house price in Logan fell 1.3 per cent to $395,000, 0.4 per cent to $446,000 in Moreton Bay and 1.9 per cent to $525,000 in Redland.Ipswich was the only outer LGA to record a rise in median for the year, with an increase of 0.3 per cent to $346,000.Ipswich was the only LGA in Greater Brisbane to record a rise in its annual median unit — increasing 2.3 per cent to $335,000.The biggest drop in median unit price in Greater Brisbane was recorded in Logan, which was down 10.2 per cent. 2. Highgate Hill $1.026m 12.7% 15.9% 3. Coorparoo $970,000 10.9% 16.2% 4. Windsor $995,500 10.6% 23.2% Suburb Annual median price Quarterly change % Annual change %center_img 1. Point Lookout $410,000 10.8% 8.6% 2. Petrie $310,000 8.8% -3.7% 3. Clontarf $335,000 4.7% 8.4% 4. Cleveland $400,000 2.6% 0% 5. Lawnton $244,000 2.1% 2% 6. Daisy Hill $285,000 1.8% -3.4% 7. Shailer Park $292,500 1.7% 3.7% 8. Thorneside $318,000 1.4% -0.6% 9. Brassall $274,500 1.4% -2% 10. Kallangur $290,000 0.7% 0.5% (Source: REIQ) 1. Enoggera $384,000 14.8% 12.9% 2. Grange $443,500 14.6% 12.7% 3. Alderley $425,500 13.3% 13.3% 4. Mount Gravatt $423,750 13% -1.5% 5. Camp Hill $499,000 11.6% 1.8% “We know listings are down, so when an opportunity pops up, people are grabbing it and they’re prepared to pay more to secure that property that’s closer to the action.”But while the quarterly performance is cause for celebration, Ms Mercorella acknowledges there are uncertain times ahead for the state’s housing market when it comes to the coronavirus.“Despite good fundamentals in Queensland, we would expect to see the most immediate impact likely in the rental space,” she said. “I think we’re likely to start seeing, in the not-too-distant future, renters losing their jobs and perhaps having the inability to meet rent obligations. “That’s concerning, so it’s really important we see the state government announcing a package for renters to give assurance to tenants and investors.”Ben and Daniella Davis are selling their five-bedroom house in Coorparoo, a suburb which recorded one of the strongest house price gains during the December quarter.Mr Davis, a builder by trade, said he was not surprised the median house price for the inner-south suburb had jumped by almost 11 per cent in the final three months of December to $970,000. TOP GROWTH SUBURBS FOR HOUSES IN GREATER BRISBANE DEC 2019 QTR 7/16 Hawthorne Street is in Enoggera, Brisbane’s top median unit price growth suburb in the December quarter. 7/16 Hawthorne Street, Enoggera, is on the market priced in the mid $400,000s.He said he knew developments such as Coorparoo Square had the potential to increase capital growth for homeowners in the area.“I keep an eye on the market as far as what’s happening in the area and seeing all these developers starting to put money into the area, I really saw it was a suburb coming of age,” Mr Davis said.The couple bought their property at 35 Walker Street three years ago and have since raised it, built underneath and installed a pool.“We’re selling sooner than we were wanting to originally because we see it as a good time to be selling,” Mr Davis said. “All the signs are positive.”Marketing agent James Curtain of Place Woolloongabba said he had noticed an increase in appetite for property in Coorparoo and surrounding suburbs in the inner south.“There is always a good energy for property in Coorparoo, regardless of the price point,” Mr Curtain said. “I think we have certainly seen that increase in the past six months.” TOP GROWTH SUBURBS FOR UNITS IN GREATER BRISBANE IN DEC 2019 QTR 5. Enoggera $703,000 9.2% 3.4% Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Suburb Annual median price Quarterly change % Annual change % 9. Gumdale $1.1m 7.9% 32.9% 10. Nundah $760,000 7.5% 8.4%(Source: REIQ) “The quarter performed so strongly because if you think about the 12 months preceding, we absolutely saw a slowdown in that period caused by a series of factors that had a bearing on confidence. “Hopefully, what we’re now seeing with this quarterly change, is that confidence returning. I think we’re also seeing some of those buyers who were holding off clearly making a decision to return to the market.”Ms Mercorella said suburbs within a 10km radius of Brisbane’s CBD outperformed during the December quarter because of strong interstate migration and relative affordability compared with other capital city markets.“Because the affordability in Brisbane is so extraordinarily good compared to Sydney and Melbourne, those people are coming and are able to buy in those premium suburbs, close to the city with all the amenities,” she said.“In some cases they’re very cashed-up buyers and their dollar goes so much further here.“I also think people want to live close to the action. We are becoming such a sophisticated modern city and at the end of the day, those inner suburbs are the most popular. 6. The Gap $540,000 11.3% 11.3% 7. Ascot $485,000 9.7% 7.9% 8. Corinda $420,000 9.1% 4.9% 9. Oxley $345,000 7.8% 1.5% 10. Mansfield $455,000 7.1% 4.4%(Source: REIQ) Mr Curtain said interstate buyers who were originally lured to Hawthorne or Bulimba often ended up in Coorparoo.“They love the elevation, the old-world nature, the leafiness and the access to amenities,” he said. “All the characteristics that appeal to an inner-city buyer, Coorparoo has in spades. “It attracts professional families looking for big homes on big blocks and younger couples looking to get a start.” Brisbane’s unit market continued to soften in the December quarter, with the median unit price slipping 2.8 per cent to $440,000.But Ms Mercorella said there were strong signs the unit market was recovering — particularly in the inner-city suburbs where oversupply was a concern in recent years.The median unit price in South Brisbane actually increased by 3.3 per cent during the quarter to $501,000. Mr Curtain said the stock “surplus mentality” had disappeared from Brisbane’s inner south unit market.“Younger couples, even professionals with one child, who can’t afford houses are willing to buy apartments in Woolloongabba and Kangaroo Point because of the superb amenities,” he said. last_img read more

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The insane backyard pool every kid wants

first_img The magnesium pools provide plenty of space for a family and some friends to relax.“We’ve had a lot of interest from families, as you might expect,” Mr Wagstaffe said.“The kids all want to stay by the pool while the parents look at the house.”More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoThe pool is attracting its share of attention online too — the property has been viewed more than 4700 times making it one of the most-viewed residential properties in Queensland this week on realestate.com.au. Water is also a standout feature for another residence in the state’s Top 10 most-viewed — property pervs have been eyeing off a lavish Sovereign Islands mansion listed for $45 million. There’s endless summer fun on offer at 7 Sharscay Close, Burleigh Heads.“It’s like nothing I’ve ever seen before,” said marketing agent Tyler Wagstaffe of JW. Estate Agents — Burleigh Heads.“It really is something special.” Not one, but two pools and a spa.The elaborate creation is the work of the current owner who set about building the backyard water feature shortly after buying 7 Sharscay Close in 2015.The pools have recently been nominated for the Queensland Swimming and Spa Association Awards in the category of best pool between $50,000-$100,000.But the pools are soon to be the source of endless summer fun for a new family with the 701sq m property now on the market for offers over $789,000. Kids are drawn to the rock slide at 7 Sharscay Close, Burleigh Heads.It’s the pool every family would love to have in their backyard.While the parents are chilling in the magnesium rock spa, the kids can cut loose in the main pool and the secondary kids pool with its own built-in slide.center_img You can swim year-round at 132 Port Jackson Blvd, Clear Island Waters. The pool is also a feature at 26-32 Knightsbridge Parade East, Sovereign Islands.Also on the Gold Coast, a 10m indoor pool is the showpiece on the ground floor of a Clear Island Waters mansion which is set to be auctioned. last_img read more

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First Horns Rev 3 Monopiles Ready to Leave Esbjerg

first_imgThe first monopile foundations have been scheduled for shipping from the Port of Esbjerg to the site of Vattenfall’s 406MW Horns Rev 3 offshore wind farm on 9 October.The monopiles will be loaded on GeoSea’s installation vessel Innovation and shipped to the site some 29 kilometres off the coast.On the Horns Rev 3 site, the monopiles will be driven 25 to 39 metres into the seabed, according to the Port of Esbjerg.While GeoSea is in charge of installing the 49 foundations, A2SEA – now a GeoSea subsidiary – will carry out the turbine installation works with its vessel Sea Installer, scheduled to start erecting the turbines in the summer of 2018.The 49 MHI Vestas V164-8.0MW turbines, optimised at 8.3MW, will be loaded out of the port of Esbjerg.Horns Rev 3 is an extension to Horns Rev 1 and 2 offshore wind farms also installed by A2SEA in 2002 and 2009, respectively.Once commissioned in 2018, Horns Rev 3 will be the largest offshore wind farm in Danish waters.last_img read more

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