Lack of hous­ing caus­ing prob­lems for all

Port Douglas & Mossman Gazette - - FRONT PAGE -

YOU might be a bil­lion­aire in­vestor or maybe even a first-home buyer but you could still bat­tle the same old prob­lem on the hous­ing front if you are in­tent on pur­chas­ing this spring.

In many states there’s a chronic lack of houses and apart­ments for sale - with agents and re­searchers claim­ing stock avail­abil­ity is down as much as 30 per cent com­pared with the past few years. Even cashed-up Asian buy­ers will find the go­ing tough.

Bris­bane agent Josephine John­ston-Row­ell says her Chi­nese clients - who flew into Bris­bane last week on their pri­vate jet - would be happy to smash the city’s $13 mil­lion record sale if they could find a house to buy.

‘‘They have ad­vised us that a home with a he­li­port (or room for one) would be an added bonus,’’ says John­ston-Row­ell, who is scour­ing Bris­bane, the Gold Coast and Sun­shine Coast for her clients, who have sig­nif­i­cant min­ing in­ter­ests in Queens­land.

‘‘In­ter­est­ingly, th­ese clients would like a prop­erty with a bit of his­tory or a story to tell . . . un­like the last Chi­nese clients re­ferred to me, who were keener on glitz and glam­our for their ac­qui­si­tion.’’

On the Gold Coast, Sun­land man­ag­ing di­rec­tor Sahba Abe­dian said: ‘‘I think over­all the sen­ti­ment in Aus­tralia with re­spect to prop­erty is more pos­i­tive than it has been in the last cou­ple of years. As to what that im­plies, we will have to wait and see.

‘‘We feel peo­ple are more con­fi­dent in terms of mak­ing a de­ci­sion (about) pur­chases of prop­erty across the eastern seaboard.’’

In Noosa, Tom Of­fer­mann of Tom Of­fer­mann Real Es­tate ex­pects mixed re­sults from his pres­tige coastal en­clave this spring. ‘‘We are go­ing to get a com­bi­na­tion of in­creas­ing sales ac­tiv­ity and some withdrawal of properties by sell­ers sens­ing bet­ter times ahead,’’ he says.

‘‘The short­age of prop­erty will be ex­ac­er­bated by the fact there has been no new sup­ply of stock for about five years in Noosa. There has not been any de­vel­op­ment in town over the past five years.

‘‘But the com­bi­na­tion of the low­est in­ter­est rates in over 50 years and pric­ing which in many cases is 30-40 per cent re­duced (could mean) the prop­erty mar­ket in Noosa is look­ing at very good times ahead.’’

On Queens­land’s Hamil­ton Is­land, the bil­lion­aire Oatley fam­ily re­ports a 30 per cent in­crease in sales over the past 12 months but sell­ing agent Wayne Sin­gle­ton says the suc­cess of sales in spring de­pends on the out­come of the elec­tion.

‘‘The in­gre­di­ents are there to pro­vide the kick but there’s a lot of other fac­tors.

‘‘I am sit­ting on the fence. Prices have been steady on Hamil­ton Is­land for the past year or 18 months.

‘‘(But) since the GFC, prices have dropped 25 per cent.’’

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