Bargains aplenty in Gladstone as prices drop and rents, yields rise

first_imgThe Gladstone property market is ripe for investment with prices low and yields and rents rising.PROPERTY prices have hit rock bottom in Gladstone, creating some extraordinary opportunities for investors looking for bargains and an easy income stream.Real estate agents in the central Queensland city say it is possible to buy an investment unit for $75,000 and rent it out straight away for $140 a week, with the chance to increase the rent at the end of the lease by 20 per cent.Ray White Gladstone director Andrew Allen said rental space in the area was at a premium, resulting in a vacancy rate of just 0.6 per cent, which was putting pressure on a very tight market. RELATED: Sunshine state a land of opportunity This house at 3 Telopea Place, Kirkwood, is on the market for $349,000 with Ray White.One of the state’s other tightest rental markets is Cairns, with a vacancy rate of 2.3 per cent, according to the REIQ.Local property managers say the new development stock that’s coming onto the market is being snapped up by buyers, with fierce demand from tenants to lease them.The consistent high demand has resulted in rent rises of $10 to $15 a week over the past year.The median weekly rent for a three-bedroom house is now $390, while the median rent for a two-bedroom unit is $310.Cairns investors continue to enjoy some of the best gross rental yields in the state.The gross rental yields for houses is 5.1 per cent, while the yields for investors is an impressive 7.3 per cent. More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe Cairns CBD. Picture: Brendan Radke.It’s a different story in Townsville, where the property market has softened following the impact of Cyclone Oma.The median house price in Townsville fell 4.7 per cent over the June quarter to $305,000, while the median unit price dropped eight per cent to $230,000.But there is a silver lining, with rents and yields in the region both increasing. The gross rental yield for houses in March was 5.3 per cent, but increased to 5.5 per cent in the June quarter, while unit yields have risen from 5.8 per cent to 5.9 per cent.Queensland Premier Annastacia Palaszczuk said more than $245 million in disaster funding had so far been rolled out across 39 communities impacted by the cyclone.“This includes more than $91 million paid to primary producers, small businesses and not-for-profits, $33 million paid in personal hardship assistance and more than $116 million paid to local governments and agencies to support the reconstruction of essential public infrastructure and other recovery programs,” Ms Palaszczuk said. The Townsville housing market has been impacted by Cyclone Oma.On the Gold Coast, house prices softened slightly in the June quarter as the median house price fell 1.6 per cent to $615,000.Unit and townhouse prices rose over the quarter by 1.2 per cent to record a quarterly median of $430,000.Four suburbs saw double-digit gains during the year to June: Paradise Point (20.6 per cent), Surfers Paradise (14.2 per cent), Tallebudgera Valley (12.4 Per cent) and Jacobs Well (10.9 per cent).And the Sunshine Coast market also recorded softer conditions in the three months to the end of June, but solid price growth over the past year means that annual price growth remained some of the best in the state. Main beach at Noosa.In the 12 months to June, Noosa was Queensland’s top performer with median house price growth of 2.6 per cent to $733,750. Noosa’s unit market was the clear winner over the past five years as well — recording price growth of more than 50 per cent. The Sunshine Coast’s rental market is also recording more demand than supply with its residential rental vacancy rate down to 2.3 per cent over the June quarter.Median rents for three-bedroom houses, two-bedroom units and three-bedroom townhouses have also increased over the year. “A property that you would rent in Gladstone for, say, $200 a week, could cost you double that in nearby Bundaberg,” Mr Allen said.He believes it is just a matter of time before those rates are realised in Gladstone. Gladstone house prices are continuing to fall, but rental yields are rising, creating the perfect recipe for investors.The latest figures from the Real Estate Institute of Queensland show the median house price in Gladstone fell 3.2 per cent in the June quarter to $270,000. In the three months to June, Gladstone’s unit median fell 17.4 per cent to $162,000 — the most affordable of any major region in Queensland. “That low buy-in price, coupled with healthy rental yields, makes it an attractive prospect for investors,” according to the REIQ.This time three years ago, the residential vacancy rate was 10.2 per cent, but now sits at just 3.1 per cent.“It has been several years since local property managers have seen conditions ascompetitive as these,” the REIQ said. An aerial view of Gladstone, with the port, coal loading facility, harbour and Curtis Island in the background.Over the June quarter, the median weekly rent for a three-bedroom house increased from$223 to $230. Likewise, the median weekly rent for two-bedroom units increased from $170 to$180.Rental yields have also spiked. The gross yield for houses is currently 4.6 per cent and the gross yield for units is now 5.8 per cent.REIQ CEO Antonia Mercorella said Queensland’s rental population was on the rise, with 35 per cent of the state now renting — and that was only set to increase. She said it was good news for investors, because not only were price points more affordable, but rental yields were also strong. This duplex at 27 Mylne St, West Gladstone, is on the market for $290,000 with Ray White.Current investment opportunities in Gladstone include a small apartment at 5/32 Elizabeth Street in South Gladstone, which is on the market for just $75,000.A single level duplex at 27 Mylne St, West Gladstone, is for sale for $290,000, with an expected rental return of $320 a week, and a four-bedroom home on a big block in the suburb of Kirkwood is on the market for $349,000, with an expected rental return of $370 a week.“The building alone would cost $300,000 to build — so you’re only paying $49,000 for the land,” Mr Allen said. MORE: RBA rate cut expected within dayslast_img read more

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Badgers head west for border battle

first_imgView Gallery (2 Photos)Jill Gardiner has some decisions to make this weekend.One of her sons, Jake Gardiner, a defenseman on the Wisconsin men’s hockey team, is heading up to Minneapolis this weekend to play the Minnesota Golden Gophers, which has been a standard occurrence over Gardiner’s three years at UW. This year, though, Jake’s younger brother Max is a freshman forward on the Minnesota team.So does Jill create one of those half-and-half jerseys, or just switch for each game? Maybe she just plays favorites?Jake doesn’t know. He is, however, looking forward to playing his brother, and the two have scouted each others’ teams a bit. He’s not giving away too much, though.“We’re not giving any systems or anything, but telling him how our forwards are and our D,” Gardiner said with a laugh.The Badgers’ (5-2-1, 2-1-1 WCHA) trip to Minnesota (5-3-0, 3-3 WCHA) will be a homecoming for more than just Gardiner, however. As usual, the UW roster has its share of Minnesotans, including three freshmen.One of those rookies, defenseman Joe Faust, didn’t face any shock at donning the red in this series.“I was never a huge Gopher fan growing up, I was more just a hockey fan,” Faust said.Even UW’s native Wisconsinites have Minnesota connections, as senior forward Podge Turnbull played two years at Duluth East High School before playing junior hockey. As with most of the Minnesota-Wisconsin matchups in any sport, the intensity level is high, especially with so many of the players on each team knowing guys on the other.“Going in, there is always a personal contest with guys. And the Wisconsin-Minnesota pride thing, who’s better, who’s not,” Turnbull said. “It’s actually a lot of fun, you see a lot of higher tempo, bigger hits, because everyone’s playing that much harder for pride for Wisconsin.”With big rivalries come big emotions, and in hockey, that sometimes translates into unnecessary penalties. The Badgers took three unsportsmanlike conduct penalties last Saturday against Michigan Tech, resulting in the Badgers going down a man each time. And although UW is a young team, the guilty Badger in each of two of those calls was a senior.Wisconsin escaped that game giving up just one power-play goal in six MTU power plays, but head coach Mike Eaves was less than thrilled with the scraps after the whistle. The team is well aware of the need to stay levelheaded.“Emotions run high in games like this,” Turnbull said. “I definitely feel like our talk all week within the locker room has been, let’s keep our emotions in check; let’s play smart, play whistle to whistle. Let’s goad them into doing the stuff after the whistle and we’ll take the power plays.”If Wisconsin can draw calls and get on the power play, it will send out the nation’s third-best unit. UW converts on 31.1 percent of its chances on the man-advantage and is second in Division I with 14 power play goals.That doesn’t bode especially well for Minnesota, which is just 38th in the country with a 78.4 percent penalty kill.“We just have so many options, we have so much firepower on our power play. We can do a lot of things with that,” Gardiner said.Five Badgers have at least two power-play goals, and it’s no coincidence the first-unit power play makes up five of UW’s top six scorers.The silver lining in taking all the penalties last weekend was the Badgers got to see how well their penalty kill could play. The Huskies came into Madison with a 37 percent conversion rate with the man-advantage and left with a 30.6 percent mark.“Our forwards are doing a great job blocking shots, that’s definitely one of our biggest things,” Gardiner said of the UW penalty kill. “Our defense, positionally, they’re doing well, getting pucks down ice and wasting time on the penalty kill is huge.”All told, Wisconsin scores more (just barely, 4.25 goals to 4.12) and allows fewer goals (1.88 to 3.48) per game than Minnesota. Those numbers can be taken with a grain of salt, sometimes, in border battle games. Last season, Wisconsin split the four games it played with Minnesota, although nobody would say the two teams matched up evenly.In terms of other moves, Eaves is throwing one major changeup in his defensive pairings, putting Gardiner and sophomore Justin Schultz together. The two defensemen play together on the power play and Eaves was interested to see how the two would fare over the course of a full game.That leaves UW mixing two experienced guys in sophomore John Ramage and senior Craig Johnson with Faust and freshman Frankie Simonelli. Eaves said the two freshmen may play together on some shifts, depending on how things play out.Rivalry aside, Eaves still thinks the Badgers need to decide what kind of team they will be. Both teams are coming off sweeps, UW over Michigan Tech and UM going out to Colorado College and leaving with four points.The Badgers struggled in their only other road trip, a loss and tie at Denver. Eaves would like his young team to even out its course between now and Christmas.“The number one thing is to see consistency,” he said. “With a young team, we’re going to see brilliant moments and we’re going to see moments where we absolutely want to pull our hair out. And we’ve had those moments already.”last_img read more

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Second edition of Social Media Games slated for August 27

first_imgThe second edition of the annual Social Media Games dubbed “The Hood Edition” is set to come off on Saturday August, 27 at the Wembley Sports Complex, Kotobabi.The event which is one of the most sought-after events on the calendar of the youth especially social media users.  The game aims at fostering peace and togetherness amongst the youth from various communities ahead of this year’s election.It will also be used to create an avenue for socialization, meet-up, establish business contacts and a reunion for long lost friends.Organised by Hypenationgh, the event will see individuals from different communities who are hooked onto social media sites such as Facebook, Instagram, Twitter, WhatsApp, YouTube, Google Hangout among others coming together to form teams to compete with each other for honours.Games to be competed for includes an 8-aside football challenge, an 8-aside finals for ladies, ampe, snooker, lime & spoon, volleyball, table tennis, tug of peace as well as a rap battle, photoshoot and open jam section after the games. According to the coordinator for the games, Francis Aryee, the first edition held at the Ajax Park, University Of Ghana last year left many asking for more and they are looking forward to this year’s edition.“We want to use this year’s edition event to preach the message of peaceful election to the youth as the election 2016 approaches,” he said.“The youth makes up the larger chunk of voters and they are very vulnerable when it comes to elections as some politicians target and use them to cause chaos during the period. We want to use this games to preach to them that there are a better thing to life than being used as a tool for violence,” he added.He noted that there would be peace messages from prominent personalities, politicians, leaders of the youth groups in the various communities as well as some presidential hopefuls to further drum home the need for absolute peace during the December polls.He further revealed that in all, at least 20 teams will be involved in the one-day sports extravaganza and will see teams being formed online by individual leaders from the various communities (Hood). Trophies and products from sponsors would be awarded from 1st to 3rd positions respectively with the other participating teams receiving souvenirs from sponsors as well.There would be an hour of pure aerobics for all to kick start the games.last_img read more

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