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Not All Sunshine & Rainbows

With such a rapid increase in property values locally here on the Sunshine Coast, it is important to place even more emphasis on further knowledge and research. As the Coast is fills with more and more people, we are going to need more knowledge of our local economy. Recent research from the National Cities Performance Framework Report, has indicated that the coast is the most expensive place to live in Australia relative to household incomes.

Being placed fourth amongst the fastest growing regions in the country, the demand for housing is at the highest it’s ever been. The report also showed that the Sunshine Coast was one of the most unaffordable region to live in when considering household income and rental expenses and even more expensive than Sydney and Melbourne.

Housing group Coast 2 Bay CEO Andrew Elvin said that more than 30 per cent of a household’s income would be put towards the rent or a mortgage, which ultimately results in rental street. Andrew also noted that the supply and demand is completely out of kilter at present, and is all a result of people coming to the Sunshine Coast looking to position themselves in one of the fastest growing regions in the country.

None the less, a major factor to consider in this tricky situation between supply and demand for housing on the Sunshine Coast is that very low rates of public and community housing places exist. Accordingly, the Coast holds roughly half the amount of availible community housing when compared to other regions in the nation, making it a difficult and timely process to acquire housing for many families and low income earners.

Ultimately we need to help ease the pressure and potentially solve this issue of rental stress and housing affordability, Andrew Elvin pointed out that the Federal Government need to encourage greater investment in housing across the Nation and not just in hot beds such as Sydney, Melbourne and the Sunshine Coast. The Aura development and Maroochydore CBD could help alleviate much of the stress, Coast 2 Bay also suggested that the local government could look to transfer the management of social housing to the non-government sector. In doing so this would enable third party payments and investment that would help alleviate the issues in the region.

Ultimately, people just want to call the Sunshine Coast their home, as do so many others flocking to the region in the very near future.

Newly Released Plans of Mooloolaba’s Brisbane Road, First Avenue Carpark Development Proposal.

Newly released details of Mooloolaba’s long awaited 700 new parking spaces will be carried out by the Sunshine Coast Council should a development application (DA) be submitted for the Brisbane Road carpark if it were approved approved.

As you can imagine constructing 700 car parks in Mooloolaba’s main parking zone, would create a significant amount of disruption to the area. Council are however working with developer Abacus Funds Management to prevent a huge loss of carpark bays during the proposed redevelopment.

In handling the process this way, It will ensure that if the development goes ahead. It can do so as a high priority and construction will not be delayed. The new application which was lodged late on Friday 8th December 2018 includes a full-line supermarket, shopping centre, hotel, bar, indoor sport and recreation complex and an aged care facility.

The redevelopment will also Hold about 1000 car spaces altogether, with 300 are attached to the residential component of the development. Council have said they hope construction will start in early February, however there are still some key decisions to be made, including the development application approval. None the less council are also continuing their work to widen Brisbane Road to further accommodate traffic flow in and out of Mooloolaba Beach.

The application of the Brisbane Road has been almost a 30 year project, and have recently come to fruition after lengthy negotiations with the developer. Most locals and investors are very aware that talks of a major development on the site have existed for decades.

However, with the rapid increase in population here on the Coast combined with the $500-Million airport expansion, which looks to bridge the gap between the Sunshine Coast and South-East Asia. Council are taking huge steps to ensure our local infrastructure is capable of supporting the increase in local foot traffic we are sure to see in the near future.

$10 million refurbishment of The Wharf precinct

The Wharf Mooloolaba was once known as the beating heart of Mooloolaba, with retail and tourism forming a large part of the Wharf had to offer. However, more recently following the changeover of ownership of The Mooloolaba Wharf early last year, it’s revitalisation continues. With construction, currently underway on two more restaurants the Wharf will once again be a part of the Sunshine Coast’s hottest new dining precinct.

The two new restaurants to be launched are by award-winning Queensland chef and restaurateur Tony Kelly, they will offer Asian street food as well as a “Hamptons-style” Fish and Chippery. The two new restaurants together with The new Dock Mooloolaba, a new 350-seat restaurant which is also under construction will support the rising levels of tourism we are seeing almost on a daily basis in Mooloolaba.

Further supporting the growth of The Wharf, The Mooloolaba Yacht Club have also recently opened a new, larger clubroom as part of revitalisation. The new 86 square meter clubroom will have views over the Mooloolah River, home to a very successful youth development program the club conduct races offshore and on the river every week.

With so much development coming to the area, the refurbishment of the Wharf aims to bring the community back to the precinct and once again be the beating heart for Mooloolaba tourism.

Birtinya – Groundbreaking Shopping Centre Proposal Submitted To Council

Just released is Stockland’s $5 billion Oceanside Kawana town centre development, with the shopping centre proposal being assessed by Sunshine Coast Council. The Birtinya shopping centre proposal and overall Kawana Waters Town Centre master plan, was amended to accommodate Stockland’s updated designs.

The 13,000 square metre shopping centre will include 40 stores as well as a number of indoor and outdoor dining options. The centre will include two supermarkets, with a number of late-night shopping options for stores as well as late-night restaurant dining being on the cards as well.

To add to already exciting development happening in the area, the centre will also be positioned right next to the future Caboolture to Maroochydore rail corridor. The centre will include a proposed railway station, bus stops, bike paths and pedestrian pathways which help support the infrastructure of the new town centre.

Stockland hope aim to commence building within the next three months, with the pending approvals to be in place over the next few weeks. It really is starting to show that Birtinya is making a name for itself not just for housing the Sunshine Coast University Hospital – but as a major destination for potential investors and home owners on a local and national level.

 

New kid on the block – Sunshine Coast making strides against the Gold Coast property market.

Recently experts have predicted that Sunshine Coast real estate prices will skyrocket on the back of rising infrastructure spending, industry growth, jobs and lifestyle. Analysis of region’s market over the past 12-months revealed 14 suburbs where housing achieved capital gains of 10 per cent or better, with Buddina, Forest Glen, Meridan Plains and Noosa Heads all breaking the 13 per cent barrier.

Hotspotting recently released their quarterly National Top 10 Best Buys report and named the Sunshine Coast as a real estate winner.

With a culmination of $20-billion being spent to develop infrastructure and other such projects. It’s really no wonder the Property research company chose the region as its National Growth Star in its most recent Price Predictor Index report which looks specifically at sale volumes across Australia.

With the Gold Coast starting to fade more recently, the Sunshine Coast continues to rise. Hotspotting founder, Terry Ryder, said there are opportunities from Caloundra to Noosa.

“There are more growth suburbs on the Sunshine Coast than any other local government area in Australia,”

“The Sunshine Coast is transitioning to a well-rounded regional economy and it is happening largely through infrastructure spending, some of which is creating new industries,” he said.

The Sunshine Coast University and the $2 billion University Hospital are some great examples of regional game changers.

With so much infrastructure bringing so many new people to the Sunshine Coast, of which plenty earning good money. It’s a great opportunity for the Sunshine Coast to enter into a league of its own.

The Kawana precinct between Maroochydore and Caloundra have seen a significant demand from both owner occupiers and tenants, as the airport expansions and Maroochydore CBD are underway.

BUDDINA — $750,000 — 18.9%
FOREST GLEN — $642,500 — 16.8%
MERIDAN PLAINS — $525,000 — 14.2%
NOOSA HEADS — $895,000 — 13.7%
WARANA — $650,000 — 12.9%
MOFFAT BEACH — $747,500 — 12.8%
MOOLOOLAH VALLEY — $510,000 — 12.7%
MARCOOLA — $585,000 — 12.5%
COOLUM BEACH — $625,000 — 12.2%
GOLDEN BEACH — $570,000 — 12.2%
COORAN — $397,000 — 11.8%
BATTERY HILL — $520,000 — 11.5%
DOONAN — $785,000 — 10.6%
SUNSHINE BEACH — $1,160,000 — 10.0%

*Only suburbs with 30 or more sales in the period
All data is to 12 months to July 2017
Source: CoreLogic Australia

Loan Fundamentals – How to get the best deal for less without using math

If you’re beginning to venture down the road to independence, chances are high you’ll have to take out a loan at some point. Did you go to college? You probably have student loans! Further down the road, you’ll encounter car loans and home mortgages at some point too. But, don’t fear. Loans don’t have to be scary. They’re not Sharknados or pizza rats. They’re just loans and they’re easy to understand when you break them down to their basic principles. Whichever loan you choose will be easy to payback if you do your homework.

INTEREST RATES

This is how lenders make their money. There are two types of interest rates: fixed rates and variable, or adjustable, rates. They’re called this because they change (yes, kind of like an adjustable hat).

  • Fixed rates — Fixed rates never change. If your fixed interest is at 5%, it will remain at 5% for the duration of the loan. These loans are preferable because you’ll likely know what you’re getting into from day one and there are no surprises like waking up to find your cat using your TV as scratching post. When taking out a student loan, or any major loan, look for low fixed rate loans. Popular student loan programs like Stafford and Perkins have low interest rates, and the government pays the interest on subsidized Stafford loans and Perkins loans while you’re in school.
  • Variable rates — Variable rates change over time and are based on a standard market rate. These can be enticing because the initial interest rates can be very low. Keep in mind that they will fluctuate and as a result, your payments will vary. Variable rates may be presented to you at a smaller percentage and then rise over time. In general, keep an eye out for predatory loans and move on from them quickly like a bad wine.1

SECURITY COMPONENT

Loans are considered secured or unsecured. One requires collateral before you borrow. The other does not.

  • Secured loans — A secured loan means you have guaranteed that your lender will be repaid no matter what. This usually means you’ve given your lender permission to take specific assets of yours if you default or stop paying. The lender can seize any collateral offered in the loan agreement to recoup their investment. Guarantees like this allow lenders to charge low interest rates.
  • Unsecured loans — Unsecured loans for the most part have higher interest rates than secured loans. Often, the lender requires that an additional person co-signs for unsecured loans, or vows to repay the loan if the borrower cannot (time to call Mom and Dad). Luckily, student loans are collateral-free while having low interest rates.2

Paying more than your monthly minimum will reduce how much you pay in interest.

LOAN TERMS

The term of a loan is the length of time the borrower has in which to pay the loan back. Typically, longer term loans consist of higher interest rates. Remember this best practice: loans typically can be paid back before they are due without a penalty (although some loans may have a pre payment penalty). That’s right, Ace! So, if you pay a little more back than is required every month you are winning because you’re saving money on interest.

Common reasons to take out a personal loan include:

  • Consolidating debt
  • Paying off credit cards
  • Covering medical bills
  • Saving to renovate a home or apartment
  • Buying a car

Being an adult sometimes requires taking out a loan to get ahead. It happens when you’re too old to ask your parents for everything you need. It’s also empowering to make a responsible choice. Avoid the pitfalls of accepting the first loan that’s offered to you. Shopping around is essential and pay attention to the fine print. Don’t overlook any terms, and avoid borrowing more than you can afford.

MORTGAGES

When you break down a loan and take a good look at it you’ll be able to make an informed decision. This is a great skill to instill in yourself as you climb the ladder of life and begin to weigh larger purchases, like buying a home.

When you’re looking to buy a home you’re going to need a mortgage. Mortgage rates are formulated with the same basic tenets outlined above. However, there are great tools at your disposal to find one. Use this Mortgage Calculator to determine the best fit for you within your budget.

KEYS TO FINDING A LOAN

  • Loans don’t have to be scary—calculate what you can afford
  • Pay more than your monthly minimum if you can
  • Read the fine print

Proposed South-East QLD ‘Bullet Train’ – $100 million per kilometre

Exploration continues over high-speed rail connecting regional Queensland to Brisbane, however advocacy group RAIL Back on Track has quoted an ambitious high-speed rail plan for the south-east region at an astonishing figure just below $100-billion.

If the plan goes ahead you could commute from either the Sunshine or Gold Coasts to work in the Brisbane CBD in just 30 minutes.

The group’s administrator Robert Dow estimated that the Brisbane-Coolangatta section of the rail line would cost almost $30 billion including the Cross River Rail section for $15 billion.

The northern network from Brisbane to Bundaberg, including activation of the North-West transport corridor, to come at a cost of around $40 billion. Mr Dow said costings had been done at roughly $100 million per kilometre.

Other rail services across the world including a route linking Brisbane, Sydney, Melbourne and Canberra have been significantly less expensive than RAIL Back on Track’s vague estimates.

Beyond Zero Emissions an Australia-based, not-for-profit climate change solutions think-tank found that the 1799km network could be built with a total construction cost of about $84 billion.

By doing so It would open up job opportunities across the State from the south-east regions all the way to Bundy and the border. Major regional cities including Bundaberg, Gympie, Maryborough and Logan would benefit massively from the Brisbane to Gold and Sunshine coasts rail line by increased connectivity from the Very Fast Train proposal.

  • $2.5-Million business case for high speed rail network connecting the Sunshine Coast to the rest of Regional Queensland
  • Congestion Relief delivering new mobility while relieving congestion on the Bruce highway
  • 30-minute travel time between the Sunshine Coast and Brisbane
  • Elon Musk’s hyper loop will be considered in the upcoming business case
  • Employment, housing affordability would benefit massively from the network

World Renowned Hotels Lodge Expressions of Interest – Maroochydore CBD

A number of big name hotel groups have been said to be interested in developing a number of venues in the heart of the new Maroochydore CBD, announcements are to be made toward the tail end of this year as to who will be securing the designated locations.

Many leading brands have expressed a significant interest in the 1.4-hectare site located in precinct 3 according to SunCentral CEO John Knaggs. The $200-million deal could lead to the development of five super lots, including the new council chambers and University campus. It is also likely that the John Holland Group will be keep several commercial and retail spaces for future tenants.

Nothing has been set in stone yet, however negotiations continue with several hotel groups since the expression of interest opened in the core commercial precinct just a month ago.

“Confidential discussions are continuing but there is no doubt that this site has captured the attention of Australia’s business community including hotel operators,” he said.

“The new hotel will primarily be aimed at business clientele and there is widespread recognition that demand for such accommodation will grow significantly as the CBD takes shape.”

John also went on to support the expansion of the Sunshine Coast Airport would also increase international flight capacity, thus driving business travel to the region.

“Maroochydore is already the commercial heart of the entire region but the introduction of direct international flights from Asia to the Sunshine Coast will be a huge driver of business travel to our region,” Mr Knaggs said.

“We’ve seen an eight per cent increase in business travel to the Sunshine Coast in recent years and 230,000 people have attended business events in the region in the year ending March 2017.”

“All indications are that this growth will continue with improved access and infrastructure.”

Earlier this month Mayor Mark Jamieson revealed $450-million worth of development proposals had been lodged through the EOI process since the 35 blocks were taken to market.

He expects construction of the first significant stage of the CBD to start next year, and the entire project was set to include about $8 billion worth of construction over the course of the entire project.

What would you like to see in the new Maroochydore CBD?

The Developments Just Keep Coming

It is clear as day by now that the Sunshine Coast is changing, unless you live under a rock of course. However, the sandy beaches of the Coast are starting to gleam on a national level, with places like Sydney offering entry level houses at median prices of $1,080,000 it is really hard to imagine making any massive returns in a marketplace set up like that.

So moving forwards here on the coast, the investments in infrastructure really are starting to show signs of paying off. Our incredible stretch of Coastline has gone from being a destination for retirees escaping Brisbane for the weekend to now being the ninth largest Significant Urban Area in Australia by population.

With a 10.1% growth in population was experienced over a five-year period (2008-2013 the Sunshine Coast economy is one of the largest regional economies in Australia. Which is predicted to grow in a strong and sustainable pattern over the next 20 years to reach an astonishing $33billion in 2033. Closely following this trend is an increase in high-value employment, export and household income, providing an ever-expanding local workforce to meet the needs of new businesses as new investments takes place.

The changes in the region have been occurring for a number of years now, but really did begin to show since completion of the $1.8b Sunshine Coast University Hospital this year. The health hub is forecasted provide a $5.3b in direct expenditure to the local economy as well as providing 12,000 jobs upon completion. Not to mention that the Birtinya town centre is now no longer a concept, with site works under way Stockland’s neighbouring Bokarina Beach residential community is well underway.

Closely following is the new multi-million-dollar redevelopment of Kawana Shoppingworld, set to begin this month it promises to deliver what we have all been waiting for the Sunshine Coast’s very first Gold Class cinema.

Mirvac Retail plans to introduce a 6000-square metre multi-screen Event Cinema complex, complete with a VMAX and Gold Class cinema screens. Also, following this development is a new 595 space multi storey car park, as well as more casual dining tenancies and street-fronting retail stores.

Kawana Shoppingworld centre manager Claire Torkington said the redevelopment would provide about 200 new retail jobs when all stages were complete, and would also expand the centre’s offering and engage prospective tenant interest in the Sunshine Coast.

This not even scratching the surface as in Maroochydore we still have the new Maroochydore CBD on the 53-hectare greenfield site, less than 200m from Lendlease’s Sunshine Plaza shopping centre which is currently being upgraded at a cost of $350-million and will add a David Jones, 120 speciality shops and 1500 car parks.

Development is well and truly underway in the $5-billion Aura project in Caloundra South to facilitate a community of about 50,000 people. AVID Property Group have begun their $3-billion Harmony to be developed over the next 20 years at Palm view, with 4800 dwellings on 378-hectare site with its own town centre.

Arguably one of the most instrumental changes coming from the $347-million expansion of the Sunshine Coast Airport which will be providing an international gateway to the region and is scheduled to be ready for operation in 2020.

UPDATE: Whats to be included in the Maroochydore CBD town centre ?

As time ticks on, the Maroochydore CBD is beginning to take shape, a number of significant projects are being put forward in the early stages of the SunCentral town centre.

A large new Council building is being planned along with some other major projects from international developers. The Sunshine Coast Council will soon be revealing exactly what will be going on in the 53-hectare site, and this also includes the decisions being made regarding a new 15,000 square-meter city hall which would require a 10,000 square-metre as a key anchor tenant.The new building is expected to be used as a central location for all Sunshine Coast Council staff, particularly throughout the earlier stages of development of the Maroochydore CBD.

There have been multiple reports of the John Holland property group trying to secure at least 6-9 blocks within the new CBD, including the new council building.

According to the Sunshine Coast Daily the State Government is also closing in on securing a position in the CBD for new office buildings, while AVEO retirement villages is believed to be exploring two potential retirement village sites.

To further add to some of the major development sites, the University of the Sunshine Coast is said to be interested in having a presence within the new CBD as well.

SunCentral CEO John Knaggs’ said in a recent investor newsletter that the project was “progressing well” and construction of the first buildings would start in 2018.

“Construction of the first buildings will begin in 2018 and I will soon be able to announce some exciting news about that crucial stage of the project,” he wrote.

Sources have also indicated a high level of interest in the new Sunshine Coast Entertainment, Convention and Exhibition Centre, with a number of groups believed to have shown interest in developing that project. A 4500-seat auditorium is being suggested as the option moving forwards.
At present it’s beings said its unclear how many possible casino developments will be put into the CBD, however there remains a vacant casino licence. This license could however be utilised as part of an integrated development combined with retail, dining and entertainment facilities in the CBD.
It is still early days at this point, but it is great to see some progress moving forwards with some more clarity as to what will be housed in the new SunCentral Project