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Property and Finance Brief - 8 March 2013

Surat Basin drives industry activity

Activity in the Surat Basin is resulting in increased demand for industrial properties in the region. This placed upward pressure on prices and rents. Market leading rentals are being achieved in the towns of Dalby and Chinchilla


$59 Billion in projects in North Queensland

A recent report compiled by Townsville Enterprise confirms that approximately $59 billion worth of projects underway and in the development pipeline. This is an increase of $4.2 billion over the September quarter 2012.  Mining continues to be the highest contributor to projects within the region valued at $25.5 billion. Industrial infrastructure is also a significant contributor, with $13.3 billion worth of projects underway, approved and proposed. New additions this quarter include the Clyde Park coal project valued at $330 million and a number of new Townsville City Council projects valued at $45 million.

Gold Coast still a long way to go

Two Gold Coast regions were recently ranked as the worst performing regions for mortgage delinquency, according to the latest Fitch Ratings Australian Mortgage Delinquency report for the six months to September 2012. There remain a number of unit developments on the Gold Cost in the hands of receivers. These developments are setting the price levels for resale units and will continue to do so until all developer stock is sold out. Due to the large volume of unsold and unsettled developer stock across this market segment, it is expected that it will be a long time before we see a recovery in the apartment market.

Cash rate to be cut by 0.75%
NAB predicts cash rate to be cut by a further 0.75% by November with the next cut to be in May. NAB expects the RBA to take action to take the heat out of the aussie dollar which should then support growth in manufacturing and tourism. It is also expected to encourage increased activity in the building and construction sector.

Home Loan rates from 5.32% Comparison rate 5.33%
One of our lenders in currently offering variable rates from 5.32% (Comparison 5.33%) with 100% offset account, no application fees, no valuation fees, and no ongoing annual package fees. Conditions apply and offer is only available for a limited time. Contact us to discuss your options