Price of land doubled over decade and it’s expected to get worse fast

If you waited a decade to buy land in SEQ, you will have found prices have doubled.THE price of land in this part of South East Queensland has doubled in the past decade with experts warning the situation is expected to get worse amid limited new supply coming on-stream.Latest data from property research firm Oliver Hume found the price per square metre for vacant land sales, on the Gold Coast corridor especially, went from $312 per square metre in 2007 to $620 in 2017.It found that land sales prices had increased for four consecutive years, while lot sizes had been decreasing two years in a row.More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours ago“Over the last 10 years, from March 2007 to March 2017, median prices have grown 22 per cent, however average lot size has decreased 38.5 per cent during this period while price paid per sqm has increased from $312/sqm in 2007 to $620/sqm in 2017,” the research found. “The average price per square metre ($/sqm) has increased at a significantly higher rate of 98.7 per cent over the last 10 years.” The corridor between the Gold Coast and Brisbane has seen rapid growth in demand including Coomera.Oliver Hume Queensland managing director Brinton Keath said “prices have and will continue to rise while there is such a shortage of new land coming on to the market”.He said the surge was driven by the search for affordability in master planned communities that were still close to services and facilities.“Several unique factors are combining to spark strong activity in the southeast Queensland residential land market, particularly in the Gold Coast region,” he said. “Demand from offshore buyers, strong population growth, and a strong construction sector all contribute to the demand for new house and land.“These factors combined with a lack of land stock are generating strong buyer activity from both ‘warm’ and ‘hot’ buyers who have identified infrastructure activity as a hallmark of growth, and are rushing to capitalise on the potential growth.” read more

PHOTOS Students LGBT activists join public workers in May Day demonstration

first_imgMay Day in Costa Rica this year brought together protesters from public workers unions and a wide variety of other groups, including high school and public universities students, sex workers, indigenous people, LGBT activists, feminists and socialists.The annual march started at about 10 a.m. in front of La Merced Park on San José’s Avenida 2. Another group of protesters joined the march a few blocks ahead. That bloc was formed by groups asking support for Cuba, Palestine, Venezuela and even a small group of self-identified anarchists who took the front of the march. The mostly scattered group covered some four blocks along Ave. 2.Public workers unions marched, as always, to commemorate International Workers’ Day, also known as May Day or Labor Day, but they focused their protests this year against bills under discussion at the Legislative Assembly that would broaden taxes, and curb public sector salaries and benefits.Along the march route and upon their arrival in front of the Assembly, protesters displayed banners and chanted slogans against the government, particularly President Luis Guillermo Solís and his cabinet members.Some signs bore harsh insults aimed at the president. One read: “No more Luis Gui, or any of his ministers! We will never again accept any of those bourgeois oppressors of the working class!”Wrath was also aimed at former presidents Óscar Arias and José María Figueres, both of whom are rumored to be interested in the 2018 presidential nomination from the National Liberation Party.No major incidentsThe May Day demonstrations ended peacefully around 1 p.m. In past years, groups have vandalized the Legislative Assembly buildings and clashed with cops.National Police officers formed a perimeter around the Assembly’s main building early on Sunday morning. Security measures also included closing traffic access to all surrounding streets.AgreementsAlbino Vargas, secretary general of the National Association of Public and Private Employees, the country’s largest union, demanded lawmakers meet protesters on the street and accept a list of demands. After several minutes, Henry Mora from ruling Citizen Action Party and Broad Front’s Gerardo Vargas agreed to meet with protesters and accepted the documents.Legislators had a long work day Sunday, negotiating for the election of a new directorate, which was sworn in Sunday evening. According to Vargas, Mora has pledged to propose an amendment to move the election of the Legislative Directorate to a different date “in order to leave May 1 only as a celebration date for workers.”See photos from the Labor Day demonstration: Related posts:Caja Executive President steps down at President Solís’ request Costa Rica President Solís advocates for migrants at UN General Assembly President Luis Guillermo Solís to meet with U.S. Vice President Michael Pence Hundreds of medical procedures, surgeries postponed by public workers’ strike L. Arias/The Tico Timescenter_img Facebook Commentslast_img read more