Everything you need can be found at Westcourt

first_imgCazalys at Westcourt is one of Cairns’ premier sporting facilities. PICTURE: STEWART McLEANFROM rock concerts to top-flight sports fixtures and a Cairns shopping hub, Westcourt residents have just about everything at their fingertips.A large dairy farm in the late 19th century, the area is now a diverse and populous inner-city suburb.Cairns real estate agent Chris Gay has worked from his Westcourt office for 25 years and said the location was hard to beat for convenience. “My son lives at Westcourt and for him it’s a two-minute drive to the office,” he said.“People appreciate the fact that the area has nice restaurants, shops and they have just done a wonderful job refurbishing the Bungalow Hotel.“There are also some beautiful homes here, especially Queenslanders.“Some people like living at the Northern Beaches, which is fine, but it’s hard to beat a $12 taxi ride home from the city.” The suburb was originally known as West Cairns and, according to Cairns Regional Council, was set to be renamed Westgate.More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days agoHowever, following the tragic collapse of Melbourne’s Westgate Bridge in 1970, the name was changed to Westcourt.The average selling price of Westcourt homes as of January this year, according to CoreLogic, was $351,000 – more than $120,000 below its neighbour Parramatta Park.Units are abundant in the suburb and delivered average rental yields in excess of 7 per cent over the 12 months to January. Westcourt’s Cazalys Stadium will this year host AFL premiers the Western Bulldogs and music superstar Elton John, while DFO Cairns shopping centre is in the early stages of a multi-million dollar revamp.Retiree Suzanne Haslam, 68, has lived on Mann St for more than 20 years and couldn’t be happier to call Westcourt home.“I’m close to all the amenities and have wonderful neighbours on both sides,” she said. “I’m a carer for one of my neighbours. There are some families on the street but most of the people are a bit older.“If I had all the money in the world and could afford to live in the richest suburbs, I would still stay here.”last_img read more

$17b in Queensland homes were approved for foreign sales last year

first_img57-59 The Corso, Isle of Capri, sold for $15.5m this year to Chinese buyers.The figures saw the average value of established homes foreign buyers were targeting remain somewhat steady at just over $740,000 ($769,000 previously).FIRB said 13 per cent of complaints about foreign purchases of residential real estate involved Queensland property, compared to 47 per cent out from Victoria and 33 per cent NSW.It found 223 properties valued at $304.8m were found to be in breach of foreign investment rules, with owners fined over half a million dollars in total. This Hope Island mansion called Sails sold to a Chinese buyer for $11m this year. Picture: Supplied.More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoOver $530m worth of Queensland approvals were granted to foreigners buying established properties, a figure which has dropped 33 per cent over the previous financial year.“The decrease can be attributed to a range of reasons including housing market conditions, state and territory policy changes, a shift to investment in new dwellings, and the introduction of fees and processing changes,” the FIRB annual report said.It said established homes could generally “only be purchased by temporary residents for use as their home while they remain in Australia” though a “small number” were allowed to buy homes to house Australian-based workers. 159 Hedges Ave, Mermaid Beach, sold for $13.25m this year to Chinese buyers.New residential real estate made up the vast majority of the approvals granted last financial year – valued at $16.36b – with developers and off the plan approvals making up the bulk ($13.15b), followed by individuals buying new dwellings ($2.55b), those buying vacant land (over $470m) and buyers looking at redevelopment of existing properties ($150m).Chinese buyers continued to top the list of foreign investment approvals in Australia’s real estate sector, with a 31 per cent rise in the value of their approvals over the financial year. The United States, the Netherlands, Canada and the United Arab Emirates were also in the mix.center_img 18-20 Southern Cross Drive, Cronin Island, is among homes sold this year to Chinese buyers at $11m.FOREIGN buyers were given the green light to buy just short of $17 billion worth of Queensland homes last financial year, a massive 62 per cent surge.Latest Foreign Investment Review Board figures show foreign buyers were given permission to invest in $16.9 billion worth of residential real estate across the state, up from $10.4b the previous year.The FIRB approved over 6,700 applications for Queensland property deals, a 33 per cent jump in the year, with the data also showing a 20 per cent rise in the average value of those residential investments to $2.5m.last_img read more

Fancy digs like Harvey Specter from US drama Suits? This penthouse might be the one for you

first_imgGot the haircut? Now get the apartment with this stylish Brisbane penthouse hitting the market. Photo: Nigel Parry/USA NetworkARE you a fan of the US legal drama Suits? You could look the part in this Spring Hill penthouse.The apartment located at 1601/477 Boundary Street, Spring Hill allows you to walk in to wrap around city-and-horizon views similar to those that greet the show’s sharp-dressed mainstay lawyer, Harvey Specter, each evening. … and going … The views from the open plan living keep going … After catching up with small-screen Harvey, you can live large with the main bedroom outlook. … and going!It’s a bit of sophisticated NYC glamour in Brisbane’s inner-hub. You’ll feel like junior partner, Mike Ross, is about to knock on the door at any moment.The Spring Hill apartment offers timber flooring, stone bench tops, VIP car parking and private lift access — it positively reeks of success.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoThe unit is located “The Johnson” art series hotel, which means the new owner can call on a 24-hour concierge, swim in the 50-metre pool, work out in the gym or host gatherings at the entertainment pavilion. Spend the morning in the beautifully appointed bathroom to make sure you look sharp for the day’s meetings.The penthouse is being marketed by Ray White – Spring Hill with Expressions of Interest closing Wednesday September 6.Follow Kieran Clair on Twitter at @kieranclairlast_img read more

Moves to dampen investment borrowing have been so effective, banks are now offering better rates for interest only loans

first_imgExperts predict levels of interest only loans may increase.DEMAND for interest only loans had dropped so substantially that some banks were reducing their rates to try and entice more borrowers.Moves to dampen enthusiasm for interest only loans earlier this year had, had a dramatic affect on that type of lending.According to Mortgage Choice’s latest home loan approval data, there has been a significant decline in the proportion of interest only loans written by the brokerage in Queensland between April and September 2017.At the time banks dramatically lifted their interest rates on these types of loans.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoMortgage Choice Ormeau principal Deslie Taylor said in March this year the Australian Prudential Regulation Authority ordered banks to limit their level of interest only loans to 30 per cent of all new residential mortgages.As a result, many significantly increased interest only home loan rates to reduce the demand for this lending.“However, it seems for some lenders at least, the pendulum may have swung a little past its centre point and they are now working on bringing it back into place.’’Ms Taylor said in recent weeks lenders had started to reduce the rates on their interest only loans. This meant it was a good time she said for borrowers or those considering buying to look at what was available.“Borrowers will just need to show good reason for wanting an interest only loan,’’ she said.Mortgage Choice data showed that during September interest only loans accounted for 12.61 per cent of all home loans written in Queensland — down from 31.29 per cent in April.last_img read more

$1.4b fall: Investor retreat likely to be long term now

first_imgInvestor borrowing for housing has continued to fall since APRA began its crackdown, which could impact places like the Gold Coast that attract a lot of southern buyers.INVESTOR borrowing for the housing market has dropped by a massive $1.4b in the past year, a fall analysts now believe will be long term — giving fresh hope to first home buyers.Latest housing finance figures by the Australian Bureau of Statistics show investor housing commitments were down by 2.6 per cent in December last year, which saw a fall of 10.5 per cent over 2017, seasonally adjusted.RateCity money editor, Sally Tindall, said the fall was a direct result of intervention by government regulator the Australian Prudential Regulation Authority.“APRA has been trying to curb investor lending for four years now. They’re finally getting long-term results,” she said.“The first time APRA cracked down on investor lending we saw an immediate drop in investor figures but the numbers started climbing back up within six months. This time around, APRA seems to be hitting the mark.”She said the 10.5 per cent drop equated to a fall of $1.4 billion in the past 12 months to investors.“First home buyers have been making traction over the last year, taking advantage of the retreat from investors. Today’s figures, while marginally down from the previous month, show a year-on-year increase in market share from 13.8 per cent to 17.9 per cent. It’s good to see these buyers securing a bigger slice of our property market.”More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours agoThe figures showed investors borrowed a whopping $11.81b year on year.Investor housing, year on yearDec.-16 $13.199bDec.-17 $11.816bFall in $ $1.383bPercentage drop 10.5 per centSource: ABS/RateCitylast_img read more

Gold Coast mega mansion a tropical retreat in the heart of suburbia

first_imgWhat a bath!The home also has a private boat ramp with winch, dry dock and two boat sheds.The family were sad to leave the home but work overseas meant they needed to sell.“It has been such a joy to live in our own resort and enjoy a special morning ritual of showering outside among the landscape,” Mrs Pearson Campbell said.“The family activities are endless with tennis, water sports and pool side relaxation.”The mansion is close to parklands, the local turf club, schools, the beach and world-class shopping, dining and entertainment precincts. The kitchen has a servery to make outdoor entertaining easier. It exudes luxury from every corner. Perfect for late-night swims.IT may be in the heart of suburbia but this waterfront mansion resembles a private, luxury retreat miles away from civilisation.The sprawling Bundall property at 13-17 Binda Place blends classic elegance with a tropical resort.Marble, limestone and wood accentuate the home’s opulence while extravagant light fixtures are standout features in almost every room. The wardrobe of every girl’s dreams.Downstairs, there is an open kitchen, living and dining area that flows seamlessly outdoors.It also offers an office, library, wine cellar and gym.One of the most impressive rooms on the ground floor is the sunken master bedroom, which boasts views to the east overlooking the water and city skyline.It has a designer dressing room with full cabinetry, bevelled mirrored doors and a drawer unit as its centrepiece.Upstairs, there are four additional bedrooms with ensuites.This includes the guest wing, which has a rumpus room, separate home cinema and terrace.The outdoor entertainment areas surrounded by tropical gardens are sure to impress with a pool and spa, indoor sauna and tennis court. The perfect spot to curl up on the couch with a book.Its lavish style was part of the reason Gregory Campbell and Beckie Pearson Campbell bought the property in 2016.“We were searching for a property with fully contained bedrooms and ensuites for each of our growing children and also wanted a ground floor master suite with an aspect to the water,” Mrs Pearson Campbell said.“We couldn’t help but feel that we had found luxury but more so we had found a home.”The impressive home has five bedrooms and nine bathrooms, including an outdoor shower and toilet.More from news02:37International architect Desmond Brooks selling luxury beach villa17 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoThe family wasted no time turning it into the luxurious property it is today.“We set about renovating and decorating each of the rooms to maximise the liveability while Greg concentrated on the renovation of the resort pool area,” Mrs Pearson Campbell said.center_img Plenty of storage for all the wine connoisseurs out there. Imagine waking up in this bedroom every day. Perfect for summer nights. What a bathroom!last_img read more