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

Liverpool go eight points clear with 3-1 victory over Man City

first_imgBy Simon EvansLIVERPOOL, England (Reuters) – Liverpool opened up an eight-point lead at the top of the Premier League with an emphatic and hugely impressive 3-1 win over defending champions Manchester City at Anfield on Sunday.The victory, sealed with goals from Fabinho, Mohamed Salah and Sadio Mane, leaves unbeaten Liverpool on 34 points from 12 games, eight ahead of Leicester City and Chelsea, and nine in front of Pep Guardiola’s fourth-placed City.While talk of decisive results in November, with 26 games of the campaign remaining, is premature, the manner of Liverpool’s win over a team which has dominated the league for the past two seasons was certainly a declaration of intent.Anfield exploded when Liverpool grabbed a sixth-minute lead with a thundering drive from Brazilian Fabinho, who pounced on a poor clearance from Ilkay Gundogan and blasted past Claudio Bravo from over 20 metres out.Yet City felt the stunning effort should have been ruled out — and a penalty awarded to them — as prior to the break that led to the goal Liverpool defender Trent Alexander-Arnold appeared to handle the ball inside the box but the VAR review went against the visitors.It was the latest VAR controversy in the Premier League and is certain to spark more debate, but while the opening goal set the tone, Liverpool’s dominance was soon evident all across the field.City pushed forward in response and Raheem Sterling missed a close-range header, but Liverpool struck again in the 13th minute when Andy Robertson crossed from the left and Salah nodded the bouncing ball past Bravo to make it 2-0.Juergen Klopp’s European champions, without a domestic league title since 1990, now had a firm grip on the game and caused constant trouble for City’s shaky defence with their powerful surges forward.Liverpool were on top physically and their pressing stopped City from establishing their usual possession game but still they managed to carve out some openings.Sergio Aguero, who had a disappointing game, forced Liverpool keeper Alisson Becker into action in the 25th minute and then the Argentine should have done better three minutes before the break when he shot wide after being fed by Kevin De Bruyne.Guardiola needed to adjust something at the break to find a foothold in the game but City’s third defeat of the season, after losses to Norwich City and Wolverhampton Wanderers, was assured when Liverpool made it 3-0 six minutes after the interval.Jordan Henderson superbly worked space on the right flank and whipped in a cross which Mane dived to head home at the back post.Bernardo Silva pulled a goal back for City in the 78th minute, drilling home a low cross from Angelino and the visitors enjoyed some late pressure but it was too late for a comeback from the champions.City have not won at Anfield in the league since May, 2003 — their only win at Liverpool in 38 years.last_img read more