MN – The fiduciary manager has appointed Michael Wray as senior investment strategist and Paul Doyle as business development analyst. Wray joins from Blackrock, where he was head of CEMEA LDI and pensions solutions, which included a focus on providing strategic advice to fiduciary clients in the UK and the Netherlands. Doyle joins MN’s business development team from Buck Global Investment Advisors, where he worked as an investment analyst servicing medium-sized pension schemes and as an alternatives research analyst.Société Générale Securities Services – David Painter has been hired by Société Générale Securities Services as head of trustee and depositary services in the UK. He will be based in London and report to Michèle Besse, global head of depositary control, and Bertrand Blanchard, the company’s country manager in the UK. Painter was previously a board director of the JP Morgan Trustee & Depositary Company and was this year elected chairman of the executive committee of the UK Depositary & Trustee Association, representing JP Morgan.UBS Global Asset Management – James Finch has been appointed by UBS Global Asset Management as head of global liquidity management for the EMEA. He will be based in London and report to the firm’s head of global liquidity management, Joe Abed. Finch was previously head of UK and fixed income business development at Source. APG, Belgacom, BP Pension Trustees, Avida International, Horeca, MN, Société Générale Securities Services, UBS Global Asset ManagementAPG – The €375bn asset manager and pensions provider APG has appointed Philip Neyt as senior public affairs adviser on its strategy and policy team. Alongside Theo Timmermans, head of APG’s international public affairs, Neyt is to focus on international stakeholder management. Neyt has been chief executive at the country’s largest pension fund – the €5bn scheme of telecommunications provider Belgacom – for 15 years, and acted as an adviser on pensions for several Belgian governments. He received numerous awards for pension fund management as well as for his personal contribution to the development of the pensions sector in Europe.Avida International – Sally Bridgeland, former chief executive of BP Pension Trustees, is joining the UK team of Dutch governance and outsourcing advisers Avida International. Her role will be as senior adviser, and she will start in October. Bridgeland left BP Pension Trustees in April this year, having started her work there in 2007. Before that, she worked for 20 years at Aon Hewitt and its predecessor Bacon & Woodrow. She has non-executive roles at EDHEC, FTSE and the Worshipful Company of Actuaries. Horeca – The €5bn pension fund for the hospitality and catering sector, Horeca, has appointed Gérard Aben as its new independent chairman as of 1 July. With a background in human resources, Aben has, according to Horeca, much experience on the board of large companies, such as coffee and tea producer Douwe Egberts and PostNL. He has also been a trustee at several pension funds. He succeeds Eiko de Vries.
Dutch pension funds could speed up the process of improving the sustainability of their portfolios by increasing co-operation, according to the Dutch Association of Investors for Sustainable Development (VBDO). At a presentation of the association’s annual survey, VBDO director Giuseppe van der Helm said: “Despite several small schemes performing well, there is a correlation between scale and performance on sustainability.”The VBDO ranked the €161bn healthcare pension fund PFZW and the €345bn civil service scheme ABP in first and third place, respectively, for their green investment policies, while the €13bn pension fund for the agricultural sector, Landbouw, came in second.Van der Helm said PFWZ and ABP had introduced “important innovations” and could help smaller schemes with “capacity building” by sharing their expertise. The total sustainability scores for Dutch pension funds, according to VBDO’s latest benchmark survey, failed to improve against 2014.The association found that the proportion of pension funds applying ESG criteria had increased from 12% in 2009 to 76% in 2015.But it pointed out that this did not mean three-quarters of pension assets had been fully invested sustainably.“Sometimes pension funds have simply excluded a few companies from their investment universe” Van der Helm said.In his opinion, schemes must also engage with companies on their green performance, or invest in frontrunners on sustainability.The VBDO’s survey found that responsible remuneration, labour conditions and human rights were the most commonly used criteria for ESG policies.It also recognised a sharp increase in investments in green bonds, particularly renewable energy.The VBDO ranked the €7.8bn pension fund for KLM pilots, Vliegend Personeel, last in its survey, conducted among nearly all of the 50 largest pension funds in the Netherlands.The €3bn Heineken Pensioenfonds made the biggest improvement last year, jumping from 41st to 24th in the ranking.
It explained its decision in terms of the difficulty and cost PSAs would incur in sourcing cash for central clearing while central counterparties work to find alternative solutions for pension funds.“Since PSAs hold neither significant amounts of cash nor highly liquid assets,” the Commission said, “imposing central-clearing requirements on them would require very far-reaching and costly changes to their business model, which could ultimately affect pensioners’ income.”The Commission had in late November flagged a possible further extension of the EMIR clearing obligation for pension funds.It also said it would consider permanently freeing them from this obligation and that it would look into this as part of a targeted review of EMIR in early 2017.In other EU regulatory news, the revised occupational pensions directive, IORP II, will come into force next Wednesday, 12 January.Member states have two years from this date to transpose the legislation, which was passed by the European Parliament on 24 November. The European Commission has extended by one year the temporary exemption from central clearing for pension schemes under EMIR.The current exception runs until August 2017 and is due to run until 16 August 2018 after the Commission adopted a Delegated Regulation amending EMIR, the regulation containing the clearing requirement for over-the-counter derivatives, on 20 December.The Delegated Regulation moves to the Council of the EU and the European Parliament for consideration.The December decision is the second time the Commission has used its power under EMIR to extend the temporary clearing exemption for pension scheme arrangements (PSAs).
MP Pension’s new CIO Anders Schelde spoke to IPE about the fund’s investment strategy and how the fund has progressed since striking out on its own in 2015, in this month’s edition of the magazine. The fund’s board of directors has decided to divest of all shares in companies with exposure to oil, coal and tar sands.In 2016, MP Pension resolved to make sure its investment policy supported the Paris Agreement’s goal of limiting the increase in average global temperature to two degrees above pre-industrial levels.“This goal requires action by politicians and companies worldwide,” it said. Munch Holst said the pension fund’s analysis showed that the decision to exclude fossil fuel companies would also benefit the fund’s overall long-term return.The pension fund plans to sell all its coal and tar sands exposure by the end of this year, while oil shares will be sold before the end of 2020.“MP Pension already has green investments of DKK3.5bn, and this figure will grow,” it said.A year ago, Denmark’s PKA divested from five Canadian oil companies, meaning it had blacklisted 53 companies involved in fossil fuels in the space of two years.However, it rejected a blanket ban on companies’ involvement in the fossil fuel sector, saying it wanted to know if the firms had long-term plans to be part of the renewable energy sector. Denmark’s MP Pension plans to exclude all fossil fuel-related companies from its investment universe in order to help limit climate change.The DKK114bn (€15.3bn) pension fund for Denmark’s public sector university and secondary school staff said the move would excise 1,000 companies from its investment universe, freeing up more than DKK1bn.Jens Munch Holst, chief executive of MP Pension, said: “Our ambition is to deliver the highest possible returns for our members, based on responsible investments.“Given our stated goal of following the Paris Agreement’s recommendations for a better global climate, we must also take action to realise that goal.”
Tesco Pension Investment, the £17bn (€18.6bn) in-house asset manager for the supermarket’s pension scheme, has announced a set of leadership changes linked to the current CEO and CIO’s plan to retire next year.Steven Daniels will retire at the end of March 2021, it was revealed, with Danny Firth, currently deputy CEO, to take on the role of CEO following Daniels’ retirement.The chief investment officer role will be carried out by Jenny Buck from next March. In anticipation of this move, she has been promoted to deputy CIO.Nadir Maruf has been recruited from Eastspring Investments in Singapore to join the pension manager as head of private markets, taking over from Buck following her promotion. Maruf was CIO for alternatives at Eastspring, the Asian asset management arm of Prudential plc, and will relocate.Buck and Firth are to work closely with Daniels over the next month through a full handover process, Tesco Pension Investment said in a statement.Daniels has been with Tesco Pension Investment since overseeing its creation in 2012, having joined the Tesco Pension Scheme the year before. In 2014, when Daniels’ team managed some £2.5bn of assets, he spoke to IPE about the shift to in-house management.Ruston Smith, now chair of the board of trustees, was CEO of the in-house manager until 2017.He said: “Steven has built an extremely capable team and delivered a strong track record of performance. During his time, Steven has made a significant contribution to the development and growth of the Scheme’s assets and I’m very confident that Danny and Jenny will continue to build on this success.”Daniels said: “I have thoroughly enjoyed the last nine years, working with a brilliant team of colleagues to build TPI into the strong firm it is today, and delivering real value for Tesco colleagues. I’m delighted to be passing the baton to two very valued and talented colleagues in Danny and Jenny, and I look forward to welcoming Nadir to the team.”To read the digital edition of IPE’s latest magazine click here.
More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours agoGavin Fredric and Nadine McGarry at the home they are selling in Fairfield. Image: AAP/John Gass.Outside of Brisbane, the mining town of Clermont has seen the second largest increase in listings in the country over the past year, with a whopping 80 per cent jump in the number of homes for sale.Other Queensland mining towns such as Hughenden and Cloncurry have also seen huge increases in home listings in the past 12 months.Mr Kusher said that suggested owners may be more willing to sell as conditions level out or more distressed assets are hitting the market. “We have also seen a slight uptick in sales in the past 18 to 24 months, so it’s a probably a case of people bringing their properties on to the market now because there’s a bit more confidence,” he said. “Conditions to sell are still not great, but they’re better than they’ve been in some time.”Mr Kusher said rental yields were still reasonably high in regional mining towns too, which could be attractive to investors.SUBURBS WITH THE BIGGEST RISE IN HOMES LISTED FOR SALE Suburb Number of listings 12 mth change Median house price1. Fairfield 108 44% $714,000 2. Dutton Park 58 31.8% $848,500 3. Coopers Plains 148 28.7% $571,2504. Corinda 162 28.6% $785,000 5. Macgregor 112 25.8% $730,0006. Logan Reserve 141 24.8% $410,0007. Banyo 183 22.8% $535,0008. Albion 139 21.9% $758,0009. Mansfield 168 21.7% $677,50010. Woolloongabba 207 21.2% $842,000(Source: CoreLogic)SUBURBS WHERE ASKING PRICES FOR HOUSES HAVE DROPPED THE MOST Suburb Price June 2017 Price June 2018 12 mth change 1. Tangalooma $615,730 $522,600 -15%2. Chandler $1.305m $1.12m -14%3. Karawatha $515,869 $445,543 -13%4. Archerfield $621,746 $541,400 -12%5. St Lucia $1.248m $1.104m -11%6. Dayboro $733,992 $656,468 -10%7. Hendra $1.034m $930,123 -10%8. Wamuran $740,077 $674,280 -9%9. South Brisbane $911,038 $840,960 -7%10. Yeronga $813,738 $751,600 -7% (Source: SQM Research)SUBURBS WHERE ASKING PRICES FOR UNITS HAVE DROPPED THE MOST Suburb Price June 2017 Price June 2018 12 mth change 1. Virginia $386,462 $314,000 -19%2. Keperra $421,923 $346,520 -18%3. Sumner $429,077 $358,800 -16%4. Marsden $362,115 $303,520 -16%5. Lawnton $282,288 $237,320 -16%6. Narangba $417,481 $352,520 -16%7. Petrie $352,615 $300,920 -15%8. Hemmant $262,885 $224,400 -15%9. Underwood $412,308 $361,640 -12%10. North Lakes $386,500 $342,400 -11%(Source: SQM Research. SQM Research conducts on-going monitoring of a number of real estate listings websites. In providing the information, SQM Research, have received the information passed on from third parties. SQM do not accept any liability (direct or indirect) for any injury, loss, claim, damage or any incidental or consequential damages, including but not limited to lost profits or savings, arising out of or in any way connected with the use of any information, or any error, omission or defect in the information contained.) SQM Research managing director Louis Christopher.But that’s unlikely to last for long.“I do think those areas closer to the city are going to see more demand in coming months, quarters and years,” Mr Kusher said.On Your Side Investments founder Mike Harvey agrees.“We are already seeing a greater influx of people selling off in Melbourne and Sydney and taking the extra equity and buying in Brisbane for half the price and enjoying a better lifestyle,” Mr Harvey said.In its latest report, industry forecaster BIS Oxford Economics predicts Brisbane will experience the highest house price growth of all capital cities over the next three years — jumping 13 per cent, or $70,000, to a median of $620,000. Inside the house at 19 Mearns St, Fairfield, which is for sale.The neighbouring suburb of Dutton Park saw a 31.8 per cent rise in listings in the past 12 months, followed by Coopers Plains and Corinda.CoreLogic senior research analyst Cameron Kusher said stock levels were beginning to tighten in Brisbane and buyers may have a limited opportunity to capitalise on the rise in properties for sale in these suburbs. THE MASTER SUITE BIGGER THAN YOUR HOME “We are seeing pretty strong interstate migration into Queensland now … and it does seem like most of that migration is coming into the southeast corner,” Mr Kusher said.“Given that, for someone looking to sell, you could be finding there could be a bit more demand for those properties over the coming months and years.” This house at 19 Mearns St, Fairfield, is on the market. Fairfield has seen the biggest rise in home listings in Brisbane in the past year. CoreLogic senior research analyst Cameron Kusher.Mr Kusher said he was not surprised that most of the suburbs with the biggest increases in listings were in inner Brisbane because they had generally experienced greater capital growth.“Maybe people are trying to use the equity in their home to upgrade, and also, there’s a bit more demand around so they’re probably trying to capitalise on that,” he said.“It’s early days, but we are starting to see this demand — particularly migration coming from NSW.” BIG PROPERTY CHANGES STARTING JULY 1 Asking prices for homes in Brisbane have remained almost unchanged over the past year, with the average asking price for a house rising just 0.8 per cent in June and only 2 per cent over the past year, while unit asking prices have remained flat.Some suburbs have seen significant drops in asking prices in the past 12 months though, with prices for units in Virginia and Keperra falling 19 and 18 per cent respectively, while asking prices for houses in Chandler, 14km southwest of the CBD, are down 14 per cent. SQM Research managing director Louis Christopher said Brisbane was a mixed market, providing an opportunity for buyers to find value in suburbs where asking prices had fallen and stock had risen. “For buyers who have a long term view, it’s actually a pretty safe time to buy,” Mr Christopher said. BRISBANE TO LEAD HOUSING GROWTH Brisbane property is attracting interest from interstate buyers. Picture: Supplied.Unlike other capitals, the Queensland capital still represents excellent value for buyers, which has sparked a surge in demand from interstate.The latest figures from SQM Research reveal the number of properties for sale in Brisbane over the past year rose only 5.8 per cent, but there are some suburbs where stock on market has climbed much higher in the past 12 months — giving home hunters more buying power. TOP TIPS FOR THE GARDEN THIS WINTER Most of the suburbs with the biggest rise in listings over the past year are in Brisbane’s inner city region, according to research by CoreLogic.Fairfield, just 4km from Brisbane’s CBD, has experienced the greatest jump in the number of homes for sale over the past year, with a huge 44 per cent rise. Gavin Fredric and Nadine McGarry are selling their investment property in Fairfield.. Image: AAP/John Gass.HOME hunters have a window of opportunity to nab a bargain in some of Brisbane’s best suburbs before an influx of interstate migrants swallow up stock and push prices up, experts say.New figures reveal the number of properties listed for sale in some parts of the city have climbed by more than 40 per cent in the past year — putting pressure on sellers to set more realistic price expectations. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE Vendors in some parts of the city have dropped their asking prices for units by five to 15 per cent and 10 to 20 per cent for houses in the past 12 months, according to SQM Research.But experts have warned prices may not fall for long, with some analysts predicting double digit house price growth for Brisbane over the next three years. Expected total house price growth from 2018 to 2021 (%). Source: BIS Oxford Economics. But Mr Christopher is more cautious. “T here’s still a lot of stock on the market in Brisbane,” he said. “We’re not forecasting a boom in Brisbane.”Gavin Fredric and Nadine McGarry are selling their investment property in Fairfield.The couple bought it five years ago for their children and friends to live in while they were attending university.“We looked in St Lucia at the time and for the same price of a really good property in Fairfield, you’d get something really badly maintained in St Lucia,” Mr Fredric said.The five-bedroom, two-bathroom house with a pool at 19 Mearns Street has been returning $830 a week as student accommodation, but could also serve as a family home.It’s within walking distance to the train station, a shopping centre and the Princess AlexandraHospital.The property is listed with Nathalie Martinsson of Ray White Annerley.
Dream home not what you might think Gold Coast $260,000Sunshine Coast $255,000Brisbane $238,750Far North $170,000Darling Downs $170,000Northern $150,460Mackay $147,000West Moreton $146,000Wide Bay-Burnett $145,000Fitzroy $145,000 (Source: HIA-CoreLogic Residential Land Report) The Housing Industry Association-CoreLogic Residential Land Report June 2018 was released on Tuesday October 23, 2018. FOLLOW THE COURIER-MAIL REAL ESTATE QLD pair tipped to win The Block “On a per-square metre basis, Melbourne is still the capital city market with the strongest price increases over the past year,” the report said. “Over the year to June, the price of land rose by 26.5 per cent in Melbourne, 8.6 per cent in Adelaide, 7.5 per cent in Brisbane, 6.3 per cent in Sydney and 2.2 per cent in Perth. Prices in Hobart fell by 6.4 per cent.” Millions spent to snap up Brisbane ‘castle’ Brisbane buyers have a unique advantage in that their capital city land prices have actually gone backwards in the past quarter by -1.5 per cent. As well as that, the Queensland capital’s median of $238,750 was third highest in the state.The report found that the Gold Coast had the highest median residential lot value at $260,000 followed by the Sunshine Coast at $255,000.In every other state, it was the capital city that had the highest prices, led by Sydney ($477,250), Melbourne ($375,000), Perth ($250,000), Adelaide ($220,000) and Greater Hobart ($148,000). QLD median residential lot value: MORE: Every other major capital saw single digit rises, with Brisbane land prices growing the slowest of the capitals at 1.5 per cent, followed by Hobart (2.1 per cent), Adelaide (2.8 per cent) and Sydney (4.2 per cent). More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoBrisbane’s residential land sales and median lot value. Source: HIA-CoreLogic Residential Land Report. The most expensive median land price in Queensland is out of the Gold Coast, followed by Sunshine Coast with Brisbane third.A NEW report has found the price of land has shot up 15.5 per cent across state capitals in the past 12 months alone.The price of capital city vacant residential land grew three times as fast as blocks in regional areas, according to the latest national land report, released Tuesday.The surge was driven by a massive 38.4 per cent rise in Melbourne; s median lot value, which was reinforced by Perth’s 14.1 per cent jump over the past year, the Housing Industry Association-CoreLogic Residential Land Report said. Brisbane’s median land price was $238,750, according to the latest HIA-CoreLogic land report. Picture: Jono Searle. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 4:18Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -4:18 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p400p400p320p320p228p228pAutoA, 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 Rate1xFullscreenReal estate – Prestige Listings – Elizabeth Tilley04:19
Two self-contained living areas make 10 Looranah St, Jindalee a good investment.Music has been made at 10 Looranah St, Jindalee, and not just by the visiting kookaburras and lorikeets.David Campbell has been a drummer for more than 30 years and is 60 per cent of the way through recording a new album.“The downstairs was in a raw state when I bought the house so I could furnish it into what I needed,” Mr Campbell said.The five bedroom house at 10 Looranah St, Jindalee.“I had a recording studio downstairs.“Now it’s a two-bedroom apartment.”The upstairs level has three bedrooms that he sometimes lets out as a holiday rental.Its bushland setting makes it popular with overseas visitors.This view is a photographer’s muse.“It’s truly an Australian experience living here,’’ he said.The bloom of the Jacaranda tree heralds exams and Christmas, and perhaps the sale of 10 Looranah St, Jindalee.“I’m always up for the sunrise and I do time lapse photography from the front deck.“For getting motivated for the day nothing beats sitting on that front deck.”Mr Campbell is now keen to find new motivation in Tasmania, and that means a new chapter is about to start for this two-storey house on a hilltop in the family-oriented suburb of Jindalee.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019It is on the market through Coronis Toowong with offers over $650,000 considered.Update or just enjoy this country kitchen.“It’s for anyone who appreciates a good view,’’ Mr Campbell said.“It would suit a growing family or anyone who would like the lifestyle with a granny flat or Airbnb.“There’s plenty of flexibility.“I’d like to see it taken and turned into the wonderful hilltop mansion that it could be.”SEE WHAT ELSE IS ON THE MARKET IN JINDALEEMr Campbell has finished walls downstairs, landscaped outside, and painted.He also has redone the drainage to manage stormwater run-off.“It feels like it’s city adjacent now with the new tunnel,” he said.“When that went in, the 45-minute commute to the city turned into 20 minutes.“It’s been great for me.”<<
You’ll love this house to the moon and back First Home Buyer Buddy’s Daniel and Lisa Baxter are hosting a First Home Buyers Masterclass at Pimpama on February 28. First time buyers should see less competition given the retreat by investors. Prices on the Gold Coast and in Brisbane’s outer suburbs have not taken as big a hit as Sydney and Melbourne, but are still more affordable. Picture: Penny Stephens. Participants at First Home Buyer Buddy workshop.He said it was easier to get a new first home build with builders “certainly catering to this market in terms of locations of land and design”.But, he warned, that learning about the new build process, pitfalls, and even questions to ask were important for first timers.“It can be really confusing. Some of these building companies are like massive marketing machines, selling the dream and reeling in the buyer with low advertised pricing, and then hitting them up for extras and site costs that the first homebuyer thought were included.” Participants at a First Home Buyer Buddy workshop — organisers of one scheduled for Queensland at the end of the month have been inundated with queries.First homebuyers get ready, experts say conditions are right for a major surge — especially across South East Queensland.The triple effects of affordability, good lending options and a retreat by investors were creating the right conditions for the next generation of buyers, according to First Home Buyer Buddy co-founder Daniel Baxter.Mr Baxter, who’s had to double registration for his First Home Buyers Masterclass scheduled for Pimpama on February 28, said “a softening property market probably has a little to do with it, although Brisbane and the Gold Coast have come out almost unscathed compared to Sydney and Melbourne”. The suburbs where millionaires are being made 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 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“Investors are retreating to some extent so they now feel like they have less competition and maybe a little more choice,” he said.“Property is still really affordable in these areas too, and you don’t have venture too far from the Gold Coast or Brisbane CBD to find a great house, apartments or land to build on. This is obviously extremely appealing for Millennials.”He said it was important to dispel myths, especially around home loans and deposits, for first time buyers.“These days they have so many more lending options than just going with one of the Big Four banks, who let’s face it, rarely have an appetite for first home buyers with small deposits.”Among the advantages for Queensland newbies was the state’s first homeowner’s grant of $15,000 for new builds.“It’s a very popular and affordable option for a lot of first-time buyers,” Mr Baxter said.“And then you also have access to stamp-duty concessions as well, which certainly helps.” FOLLOW SOPHIE FOSTER ON FACEBOOK MORE: Brisbane homes listed at $300k
One in two homes tested for meth in Queensland come back with a positive reading.MORE than half of all Queensland homes tested for methamphetamine residue have come back with positive results, and some of the suburbs are where you would least expect it.From Chapel Hill and Chermside, to Woolloongabba, East Brisbane, Maroochydore and Upper Mount Gravatt, houses in these suburbs, and many more, tested positive to a presence of residue of methamphetamine when tested by Meth Screen between January 1 2018 and March 31 2019.Meth Screen tested 179 Queensland homes last year, with 97 of those returning a positive result for methamphetamine residue.Of the 56 properties tested by Meth Screen in the first quarter of 2019, 28 came back positive, and 27 were above the acceptable level of 0.5ug (micrograms per 10sq cm).Some of the highest readings of 2018 were up to 1600 times the acceptable level, with sky high readings at Jimboomba (800ug), Chermside (780ug), Southport (300ug), Chapel Hill (310ug) and Redland Bay (102ug), among many others. Buying a house without testing for methamphetamine is like buying a lotto ticket and hoping for the best.Mr Matthews urged prospective home buyers to test a house for methamphetamine residue in the same manner one would get a building and pest inspection before purchasing, and for investors between tenants.Testing starts from $198, but Mr Matthews warned those who choose to forgo screening risked thousands in clean-up bills, let alone the health risks contamination could cause.“Most of the time there is absolutely no evidence (of methamphetamine contaminants) except for maybe neighbours talking about it,” he said.“How are you going to know if it’s contaminated if you don’t test it?“The levels could be really low or they could be staggeringly high, but if you don’t know, as soon as you purchase it and you then find out its contaminated, there could be a $30,000 to $40,000 problem.”More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoPlace Estate Agents director of property management Cathie Crampton believed the production and consumption of ice within rental properties was an increasing issue.Place Estate Agents director of property management Cathie Crampton believed the production and consumption of ice within rental properties was an increasing issue, and supported the notion of compulsory testing between tenants.“Absolutely it is a problem, particularly in Queensland, South Australia and Western Australia there are massive examples of contamination in properties” Ms Crampton said.“I think there needs to be legislation … be that like smoke alarms.“There needs to be testing around the commencement and the renewal of a lease.”A Queensland Health spokesman said most illicit drug labs were found within rental properties and residual chemical contamination could linger for years in the walls, floor and furnishings.The spokesman said methamphetamine residue could produce symptoms such as throat irritation, breathing difficulties, headaches, eye and skin irritations, nausea, dizziness and mental health problems, and infants, children, pregnant women, elderly people or those with compromised health may be at a higher risk. While Mr Matthews said it was difficult to know exactly how many Australian houses could have a presence of methamphetamine as there had been no long term testing, by comparing it to data from New Zealand and the United States with the rate of methamphetamine usage in Australia, it could conservatively be estimated that 8-10 per cent of properties in Australia would test positive to a presence of methamphetamine.However, he stressed this did not mean the property was contaminated. Meth Screen test for traces of methamphetamine. PICTURE: MATT THOMPSONMeth Screen managing director Ryan Matthews said no suburb was immune, with some of the most unsuspecting of houses testing as contaminated.“We’ve seen levels in beautiful homes that you would never suspect,” Mr Matthews said.“Some people in more affluent suburbs have got more money.“You can’t rule it out based on demographic — it doesn’t discriminate.”Australian Bureau of Statistics data shows death rates from methamphetamine quadrupled from 1999 to 2016, from 0.4 per 100,000 to 1.6 deaths respectively. Last month, News Corp reported a Gold Coast family unknowingly lived in a house with dangerous levels of methamphetamine and not only had to throw out most of their belongings, they experienced health issues as a result of the residue. Some of the largest or most surprising readings from 2018: Beenleigh — 160ugBellbird Park — 360ugBroadbeach Waters — 270ugBuderim — 21ugCentenary Heights — 150ugChapel Hill — 310ugChermside — 780uqEast Brisbane — 5.1ugEdens Landing — 140ugGoodna — 320ugJimboomba — 800ugMaroochydore — 15ugMoranbah — 610ugRedland Bay — 102ugSouthport — 300ugUpper Mount Gravatt — 80ug