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Alarm bells ring as affordability shrinks housing turnover rates

first_imgCaloundra West had Queensland’s highest housing turnover rate of 11.6 per cent.LOW housing turnover rates have set off alarm bells in the property industry, as the knock-on effects of affordability concerns come home to roost.Latest CoreLogic data showed that in the 12 months to May, only 5.1 per cent of all the houses in Queensland, New South Wales and South Australia were sold, with Victoria even lower at 4.5 per cent and the national figure at 4.8 per cent.Not a single Brisbane suburb saw double digit housing turnover rates, but the two coastal zones north and south of the capital topped Queensland results.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoThe highest housing turnover level in Queensland was 11.6 per cent in Caloundra West on the Sunshine Coast, with 241 of its 2,079 dwellings sold in the year to May. Stockland’s Bells Reach in Caloundra West was among developments that have added stock to high performing markets in the past few years.Jacobs Well on the Gold Coast was also in double digits with 80 of the 745 houses in the suburb sold, while the rest of Queensland’s top five coming out the Sunshine Coast with Pelican Waters seeing 10.4 per cent sold (238 houses), Birtinya notched 9.7 per cent (50 sold) and Burnside saw 75 houses sold or 9.3 per cent of its total dwellings.CoreLogic research analyst Cameron Kusher said even suburbs in the top five were seeing “substantially less than half of all houses selling” and most had seen a substantial injection of new housing stock.Mr Kusher warned that with “such a small fraction of housing actually transacting over a given period”, median prices were not reflective of the whole market.John Cunningham, the REINSW President, said the data showed “just how little has been transacted over the past year”, with “the affordability issue” was now presenting a “bigger picture problem, particularly for Sydney and Melbourne”.last_img read more

Vertonghen extends Tottenham deal

first_imgRelatedPosts EPL: Son fires four past Southampton Tottenham sign £25m Sergio Reguilon Tottenham re-signs Bale on loan Tottenham defender, Jan Vertonghen, has agreed to extend his contract until the end of the season.The Belgium international was due to leave the club on June 30 but has signed a temporary deal until the current campaign is finished. Goalkeeper Michel Vorm has also committed to the club until the end of the season.Spurs had until Tuesday to agree extensions with players out of contract at the end of the month and left it late with Vertonghen.The 33-year-old, who joined Tottenham in 2012, is still expected to leave in the summer, after reportedly holding talks with a number of European clubs.“Jan is a fantastic guy, fantastic professional. His love for the club, his respect for the club, is never in doubt,’ boss Jose Mourinho said last week.“We and him want him to be with us until at least the end of the season and hopefully Jan and his people and my club can agree that. “But speaking now until the end of his contract, in the end of June, he’s here to help and of course we totally trust him.”Spurs have also agreed for a number of players, including Danny Rose, to stay at their loan clubs until the end of the campaign.Tags: Jan VertonghenmJose MourinhoMichel VormTottenham Hotspurlast_img read more

In Photos: USC defeats Fresno State, 52-13

first_imgThe Trojans ushered in the Steve Sarkisian era on Saturday afternoon following a chaotic week in Troy. USC’s 15th-ranked football team silenced all the whispers about senior cornerback Josh Shaw’s suspension and senior running back Anthony Brown’s departure by charging to a 52-13 victory over the Fresno State Bulldogs.Photos by Ralf Cheung.last_img

Lecture on Life and Wisdom of Epicurus

first_img Facebook Twitter: @NeosKosmos Instagram Lecture Life and Wisdom: Notes on Epicurus, will be given by Professor Andrew Benjamin as part of season two of Greek History and Culture Seminars 2013. Predominate area of interest of Professor Andrew Benjamin, of Monash University, is philosophical aesthetics. The seminars are held by the Greek Orthodox Community of Melbourne and Victoria. When: Thursday, 20 June, at 19:00 pm Where: Kelvin Club, Melbourne Place, opposite the Russell St Greater Union cinemaslast_img read more