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First home buyers might disagree, but new report finds housing is getting more affordable

first_imgNew report finds housing affordability is improving. Picture: AAP/Dave HuntMore from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours agoData for Queensland showed the proportion of income required to meet home loan payments decreased to 26.7 per cent in the March quarter of this year — a 1.3 per cent drop compared to the previous quarter and one per cent less than a year ago.Nationally, the figure also dropped 1.3 per cent to 30.4 per cent.Adelaide Bank general manager Damian Percy welcomed the improvement, but said the country was still in the midst of a housing affordability crisis.“Recent measures by governments to assist first home buyers are similarly welcomed, but the reality is that it will take years for these policy measures to wash through the system and translate into meaningful price action,” he said.“Anything short of a national objective of halting house price inflation in Australia’s major population centres is underestimating the profound impact having some of the world’s most expensive houses in one of the world’s least densely populated nations is doing to the economic and social wellbeing of the nation.”Adelaide Bank general manager Damian Percy says regardless, we are still in the midst of a housing affordability crisis. Picture: Realestate.com.auJust over a quarter (26 per cent) of all first home buyers in Australia were from Queensland yet the number of loans to first home buyers in the state fell by 7.4 per cent.The average loan size to first home buyers was $291,367 — down 3.4 per cent over the quarter.The news isn’t as good for tenants in Queensland, with rental affordability declining slightly during the March quarter.The amount of income required to meet median rents in the state rose by half a per cent. First home buyers might be inclined to disagree, but one industry report has found housing is actually getting more affordable.The Housing Affordability Report, compiled by Adelaide Bank and the Real Estate Institute of Australia, shows an improvement in affordability nationally in the first quarter of this year.The findings are based on the amount of household income required to meet mortgage repayments.last_img read more

The top ten things that turn off Queensland homebuyers

first_imgDayne Rapihana, and Rebecca Karatau, with their three boys Luke, 10, Harry, 9, and Sam, 5, at their newly renovated Fairfield property. Picture: Liam KidstonMORE Queenslanders would live near a brothel than put up with crime, asbestos and bad smells according to new research from Australian comparison website Finder. A recent Finder survey of Queensland property buyers found the biggest real estate turn-off was a high crime rate with 63 per cent of potential homebuyers indicating they would knock back a house in an area known to be dodgy. In a close second was asbestos with 62 per cent of those surveyed admitting they would shun a property containing the potentially harmful material, while 59 per cent would not tolerate bad smells caused by the likes of pets, cigarettes and dampness. Being located next to a brothel was the ninth biggest turn-off while no parking, bad internet and being close to noisy roads, loud bars and flight paths could also put a damper on potential real estate love affairs. Finder money expert, Bessie Hassan said turn-offs could knock thousands off the value of a home.“If you can think outside the box to remedy the issue, this could be a way to pick up a bargain property because demand might be low,” she said.“There’s not much you can do about a property being close to a main road but you could reduce the road noise by installing soundproofing or high fencing.” Queensland’s top property turn offs Bad smells caused by pets, cigarettes and dampness was the third biggest turn off for Queensland buyers. Picture: Katrina BridgefordRay White New Farm principal, Haesley Cush agreed with the survey findings that bad smells and loud noises could drive buyers away. “Poorly presented properties are easily discounted and, if not discounted, harshly judged financially,” he said. “A buyer may leave an inspection not liking a property because of a bad smell but the thing that tuned them off, they may not remember. They just remember they didn’t like the property and they won’t go back.” Mr Cush said when it came to crime, buyers tended to accept or reject an area based on criminal activity long before making it to an open house but he warned against hasty judgment as gems could be found in suburbs perceived as bad. “For example, everyone who has owned in New Farm for over 20 years, when they bought their property friends and family would have said don’t buy there because of the junkies and prostitutes,” he said. “Now because of gentrifications people think they are real estate soothsayers and have predicted the future.” Dayne Rapihana, and Rebecca Karatau, with their three boys Luke, 10, Harry, 9, and Sam, 5, at their new renovated 115 Ashby St, Fairfield property. Picture: Liam KidstonHomeowners Beck Karatau and Dayne Rapihana weren’t scared off by asbestos in their latest renovation project, a Queenslander at 115 Ashby Rd, Fairfield, that has been listed for sale through Pauline Karatau of Ray White New Farm.“There was a small amount asbestos and we were able to remove it,” Ms Karatau said. “A small amount is not a problem and if a house needed to be totally gutted and re-sheeted that would come down to the cost. “If you engage the right qualified people (to deal with it), it’s not an issue.” Mr Rapihana is a builder, Ms Karatau has gained her builder’s license and together the couple are often hunting for renovation projects. Ms Karatau said property turn offs weren’t necessarily a bad thing as they could result in a more affordable sale price. “A lot of problems can be solved,” she said.“Being on quite a busy main road would be the number one turn off for us … but we can redesign a house to minimise issues. “We’d design easy access onto the property, put living areas to the back of the property and use insulation and double glazing to cut down on noise.”center_img 1. Above average crime rate of suburb (63%)2. House with asbestos in the walls/ceilings (62%)3. Bad smells (pets, cigarettes, dampness) (59%)4. Located near a noisy pub/bar (57%)5. No parking (53%)6. Located in an industrial area (53%)7. Being on the flight path (51%)8. Close to a major road (50%)9. Located near a brothel (48%)10. Bad broadband connection (44%) Asbestos was the second biggest property turn off. Picture: Asbestos AwarenessQueensland Government Asbestos Unit director, Peter McGarry said homebuyers should be alert but not alarmed about asbestos in homes. “If asbestos containing materials are in a good condition there’s not a risk,” he said. “If the asbestos is well painted and if any cracks are sealed, that is considered to be good condition.” Mr McGarry said about 50 per cent of Queensland housing stock was reliably estimated to contain some amount of asbestos. “Any house built or renovated before 1990 should be assumed to contain some degree of asbestos materials,” he said. Mr McGarry said risk came from improper removal or renovation of asbestos, which can also result in prosecution and fines. More from newsNoosa’s best beachfront penthouse is about to hit the market12 hours agoNoosa unit prices hit new record high as region booms: REIQ12 hours agoHe said homebuyers should factor the cost of maintaining asbestos or having it removed by a licensed professional when purchasing a house containing the product. “On average it costs about $25 to $35 per square metre for removal and disposal of asbestos containing material,” he said. last_img read more

The Latest: Hoosier, Kentucky hoops dreams snuffed by virus

first_imgThe NBA, the National Basketball Players Association and ESPN will stream a HORSE tournament on ESPN’s app.The NBA HORSE Challenge will have eight participants. The quarterfinals are to be shown Sunday and the semifinals and final on April 16.The quarterfinal matchups are Trae Young of the Atlanta Hawks against former NBA player and ESPN analyst Chauncey Billups; WNBA great and 2020 Basketball Hall of Fame inductee Tamika Catchings against Mike Conley Jr. of the Utah Jazz; Zach LaVine of the Chicago Bulls against NBA retiree and ESPN analyst Paul Pierce; and Chris Paul of the Oklahoma City Thunder against Allie Quigley of the WNBA’s Chicago Sky.Players must call their shots before the attempt and dunking is not allowed. The players will be isolated and competing on separate home courts.State Farm is the presenting sponsor and will offer a prize pool exceeding $200,000 to charities working on the coronavirus response. The event will be pre-taped. April 9, 2020 Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The Indiana-Kentucky boys and girls high school all-star games have been canceled for the first time since World War II. Montreal was scheduled to hold the trials this summer from June 25-28, but the event was postponed due to the COVID-19 pandemic.The trials will serve as the final event to determine the athletes nominated to the Canadian Olympic and Paralympic teams competing in Tokyo.Montreal hosted the Canadian Track and Field Championships in 2019. The last Olympic trials held in Montreal were in 1996.The Tokyo Games will take place July 23 to Aug. 8, 2021, after being postponed for a year due to the novel coronavirus. The Paralympic Games will run from Aug. 24 to Sept. 5.___ Commissioner Wayne Pearce says they wanted to set a date and then work on finalizing a competition. It will depend on border restrictions in New South Wales and Victoria states and New Zealand opening up.Pearce says “a date is to give certainty to players and their schedules, clubs and thousands of people who are out of work through clubs and millions of fans.”He says “the situation is changing dramatically and we need to get moving. It is in the best interests of our clubs, our players, our stakeholders and importantly our fans that the competition resumes as quickly and as safely as possible.”___Australia’s two-test cricket tour of Bangladesh in June has been postponed because of the coronavirus pandemic. The Canadian Baseball Hall of Fame induction ceremony has been postponed indefinitely because of the COVID-19 pandemic.Former Toronto Blue Jays first baseman and two-time World Series champion John Olerud, 2006 American League MVP Justin Morneau, former Blue Jays pitcher Duane Ward, and Montreal sportscaster Jacques Doucet were scheduled to be enshrined in a ceremony in St. Marys, Ontario, on June 20.The hall of fame said in a release Thursday that the ceremony and related events are postponed until further notice.The museum and ballfields are closed to the public, as mandated under Ontario’s declaration of emergency.___ ___The International Cycling Union says it can get through its greatest crisis since World War II with limited damage “as long as the situation does not last longer than current predictions.”The UCI has received more than 650 requests for postponements or cancellations from organizers because of the coronavirus pandemic. That represents 30% of its international calendar.The UCI says it is reimbursing all registration fees of canceled events to help organizers.The UCI will take a considerable financial hit from paying those fees and it also expects its Olympic revenue payment from the delayed Tokyo Games to be postponed and likely reduced. Southampton has become the first Premier League club to announce its players will defer some of their salaries amid the coronavirus pandemic.The Premier League had wanted all squads to take a 30% pay cut but the move led to a standoff with the players’ union.The league has been indefinitely suspended.Southampton says players will defer part of their salaries in April, May and June “to help protect the future of the club, the staff that work within it and the community we serve.”Southampton manager Ralph Hasenhüttl, his coaching staff and directors will also defer some pay over three months. The Indiana boys hold a 99-44 advantage in the seniors’ series while the Indiana girls lead 50-38.The move comes less than a month after the Indiana High School Athletic Association canceled the boys state tournament for the first time since its inception in 1911. ___The Canadian Olympic and Paralympic track and field trials for next year’s Tokyo Games will remain in Montreal.Athletics Canada announced Thursday that the trials will take place in 2021 at Montreal’s Complexe sportif Claude-Robillard. The event is expected to be held June 24-27. Officials from the two states cited measures taken by both state governments to battle the COVID-19 pandemic, including the closure of schools through the rest of academic year.The boys series began in 1940 but was not played in 1943 or 1944. The girls games were added in 1976 and have never previously been called off.The series pits the top seniors from each state and were scheduled to play June 5 in Georgetown, Kentucky, and June 6 in Indianapolis. The top juniors were scheduled to square off June 1 at Floyd Central High School near the Ohio River.Indiana also has canceled the junior-senior all-star games on June 3 and the All-Star Shootout on June 6.“I am sad for the players and coaches who comprise this year’s All-Star teams,” Indiana game director Mike Broughton said in a statement. “This is a once in a lifetime experience for the seniors who made the team, but they do have the satisfaction that they are an Indiana All-Star for life.” The Latest: Hoosier, Kentucky hoops dreams snuffed by virus The first test was to start on June 11 in Chattogram. The second from June 19 in Dhaka.Both were part of the world test championship. The final of that tournament is scheduled for next June. Trying to find a new slot for the tests will be a challenge.Cricket Australia CEO Kevin Roberts says “the global cricket calendar is very busy but we will do everything we can to honor our commitment to Bangladesh and will continue to work with the BCB on an agreed date.”The Bangladesh-Australia series is the second in the world championship to be postponed. England returned home from Sri Lanka last month at the start of the outbreak.___ The UCI says its leadership has agreed to reduce salaries or allowances and furloughed all 130 employees of the UCI and the world cycling center.___Australia’s rugby league championship plans to restart on May 28.The NRL has been suspended since March 23.The governing ARL Commission also says it intends to play a full three-game State of Origin series. Southampton says it has “put measures in place to ensure that all staff not deferring part of their salaries will continue to receive 100% of their pay, paid in the normal way until 30th June.”___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6last_img read more