Brisbane Canal-front land sales update Sales of new canal-front blocks on the Gold Coast have slowed, however according to research prices have not decreased.

The average canal-front block costs between $700,000 and $1 million on the Gold Coast.

Over the long term waterfront land on the Gold Coast has increased in value at about 15% per annum.

The value of waterfront land should not go any lower due to its scarcity and will probably increase further. Source: (AFR Pg. 58)

The importance of the development of West Dapto is highlighted by a recent report :

Population is expected to increase by approximately 59,000 people over the next 25 years, driven largely by migration from the Sydney basin" The key issue is how to provide up to 33,000 dwellings over this period when a number of current release areas are rearing completion and there are limited opportunities for new release areas - West Dapto is one of the last areas with this potential. Increased densities within existing centres will need to be encouraged to meet the demand for housing and the need for increased housing choice.

Department of Infrastructure Planning and Natural Resources Illawarra and South Coast Regional Strategies, Background Paper

Cairns apartment sales update    

Receivership sales dominate in Cairns in every sector – apartments, residential land, industrial, commercial and even rural properties.

At the same time there is a significant over supply, with an estimated 650 new apartments to be sold across the north Queensland city – about four times the number of units sold this year with prices dropping significantly.

There has been discounting of up to 50 per cent with an average drop of between 25 per cent and 30 on original price according to research.

When credit was cheap and plentiful and tourism was strong, up to 700 apartments were being sold off the plan a year.

Defence Housing Australia has bought land in Ermington for $8.8 million at auction. The 1.57 hectare property is located near the corner of Victoria and Marsden Roads. The property includes the Riverview Nursery and the childhood residence of Olympic great Betty Cuthbert – a single storey heritage listed Federation style house. The site already has in place development approval for the construction of 47 multi-unit dwellings comprising 40 three-bedroom townhouses and seven two-bedroom townhouses. Each dwelling includes a courtyard and a carpark.

 (AFR Pg. 57)

REAL estate agents are buoyed by the interest in Ipswich homes after a sluggish start to 2010.

Springfield Lakes and Redbank Plains were strong performers in the first half of the year despite sales being their lowest for the Ipswich region since 2000.

Professionals Thornton principal Charlotte Thornton said Springfield Lakes and Redbank Plains were genuine property hot spots because of high levels of development and from November’s market activity expected buyer demand to increase Ipswich’s sales. ‘‘There is pent-up buyer demand and as buyer awareness of the favourable conditions continues to build, we will without a doubt see increased activity,” she said.