National: Queensland’s Dwelling Values Now Worth $1T

The housing market value in Queensland has surpassed the trillion dollar threshold for the first time ever, thanks to the recovering economy and a rise in buyer interest.

The Sunday-Mail reported that according to CoreLogic figures, the value of the state’s residential sector hit $1.004 trillion in September, marking a 10 percent increase from $910 billion in 2016.

“Overall, due to the improved economy, increase in employment and population, $15 billion construction boom and the Advance Queensland Business Development Fund, Queensland is projected to deliver good long-term capital growth,” said Doron Peleg, chief executive at RiskWise Property Research.

This rise in value also coincides with real estate revivals in some parts of regional Queensland as towns recover from mining busts.

Valuer Herron Todd White said prices of real estate Cairns, Emerald, Gladstone, Townsville and Mackay have grown by 40 percent in the last 12 months due to surging capital works projects and coal value.

In particular, median house price in Mackay grew 2.5 percent to $335,000 over a year to June. “This market is benefiting from a jobs boom in the region and currently has the lowest unemployment rate in the state,” said Antonia Mercorella, chief executive at Real Estate Institute of Queensland.

CoreLogic’s head of research Tim Lawless said mining towns could expect an increase in home values following rebound from the sector’s downturn. “Coming into 2019, markets like Mackay should start to see some growth, we expect Toowoomba to move back into positive growth and Cairns to see a bounce higher,” said Lawless.

However, Peleg said buyers should “proceed with caution” in these areas.

National: Brisbane Printing Company Goes Out of Business

Brisbane’s Panther Print is entering liquidation after 29 years of business.

The Stafford-based offset printer was founded in 1989 by Walter Kuhn, owner of Kuhn Corp and the president of the Printing Industries Association of Australia. In 1992, Kuhn sold the company to Les Beech, father of current managing director Greg Beech.

“The company closed on Thursday and they have given a few reasons for ceasing,” Bill Cotter of Robson Cotter Insolvency Group, who is handling the liquidation, told ProPrint. Cotter said he still did not have the creditor figures, and was still “figuring it out” with the business.

Before its closure, Panther offered offset, design, production art and prepress, finishing and post production, delivery, distribution and stock control services.

This makes Panther one of the commercial printers closing its doors this year, following Sony DADC in Huntingwood, NSW in February and Western Sydney-based Saunders Print Group in March.

National: Rare Thomas Edison Cables Unearthed in Brisbane

Excavators in Brisbane have found 134-year-old rare electrical cables with links to light bulb inventor Thomas Edison.

The cables, which were laid under William Street to provide electricity to the parliamentary precinct, were removed on Tuesday to allow the new Queen’s Wharf casino complex development to go ahead.

The “Edison tubes” were designed by the late inventor and built by his American company. Brisbane was the third city to have the technology after London and New York.

“We were the first place in the southern hemisphere to have this technology, and just the third in the world,” said supervising archaeologist Tina King.

“It’s a milestone for Brisbane’s development as a city and we’re making sure to take the utmost care in the conservation of these important artefacts.”

The tubes were made of cast iron casing, asphaltum-based pitches, and two to three copper cores.

Parts of the cables will be housed in Sydney’s Powerhouse Museum, Brisbane’s Commissariat Store Museum in Brisbane, the Highfields Pioneer Village in Toowoomba, and Parliament House as well as the Science Centre in London and the Thomas Edison National Historical Park in New Jersey, US.

National: Apartment Boom Drives Residential Building Growth

Approval rate for apartments continues to rise, boosting the Australian residential building growth beyond expectation.

Latest reports from the Australian Bureau of Statistics show that apartment approvals rose by 30.6 per cent in November, while house approvals dipped 2 per cent. The gain was the largest since November 2016.

Victoria contributed the most to this increase, with an 80 per cent surge since October to 6,359 approvals for private-sector dwelling excluding houses while NSW and Queensland experienced month-on-month declines.

Overall dwelling building approvals rose by 11.7 per cent for the month, beating forecasts of 1 per cent fall by Reuters.

National: Pauline Hanson – Back At It Again With The One Nation Policy

It’s 1996 again as the One Nation Party leader makes another comeback in Australian politics, only this time with a little more success, and a new target enemy, Muslims.

Source: Daily Life
Source: Daily Life

The former fish and chip shop owner has shocked voters, securing 142, 594 of the primary vote nationally and 5.48 percent in Queensland, achieving double-digit first preference votes (most regional seats).

Source: The Conversation
Source: The Conversation

With the increase of conservative votes, One Nation received 8.97 percent of the vote and helped Prime Minister Malcolm Turnball’s ally and assistant innovation minister, Wyatt Roy. Baffled left voters have speculated that the surprise winning had resulted from an increase of recent islamophobic and terrorism propaganda perpetuated in the media influencing concerning rural voters.

 

Source: news.com.au

Despite the disturbing level of support received towards Hanson, many Australians including Prime Minister Malcolm Turnbull have unwelcomed the red-headed leader stating that there is no place for racism, hatred, and bigotry in modern Australia.

Source: AFR
Source: AFR

Someone needs to please explain Pauline Hanson’s return.