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

2 suspects jailed for ‘theft try’

first_imgWith the help of the closed-circuittelevision footage, the suspects were nabbed and identified as 19-year old SkyInventor and 24-year-old Jay Rose Delprado, a police report showed. Personnel of the Majesty Spa reportedInventor and Delprado to the police around 7 p.m. on Dec 29, the reportadded. Bacolod City – Police arrested two suspects who tried to cart awaykaraoke equipment worth around P46,340 at a bar in Barangay Singcang-Airport. Inventor and Delprado were detained inthe lockup facility of Police Station 8. Charges will be filed against them./PNcenter_img Sky Inventor (right) and Jay Rose Delprado were arrested for allegedly stealing karaoke equipment at a bar in Barangay Singcang-Airport, Bacolod City on Dec 29. POLICE STATION 8/BCPO Recovered from them were two karaokeplayers with remote control, a microphone and a songbook, the policeadded. last_img read more

Train service in Costa Rica resumes Wednesday following strike

first_img Facebook Comments Trains are expected to run normally around Costa Rica’s greater metropolitan area on Wednesday after a strike staged by train drivers on Tuesday left some 16,000 people struggling to get to work and school.The Costa Rican Railroad Institute (INCOFER)’s brand new president Cristian Vargas said service would resume on Wednesday. Tuesday was Vargas’ first day on the job.The cancellation of the train service between San José and the provinces of Cartago and Heredia caused a saturation of commuters at bus stations in the three provinces. Lines at bus stations extended for several blocks, transport companies reported.The drivers’ strike came after INCOFER and the employees failed to come to an agreement on a new contract. The train drivers worked for an auxiliary company that was contracted by INCOFER, but the contract expired Monday.Catenaria, the new company hired to provide services for INCOFER, had yet to come to an agreement with train drivers for their continued employment. The employees demanded better working conditions, including increased wages, rain gear and a place to rest in between morning and evening shifts.The workers’ attorney, Jorge Regidor, said that after more than 10 hours of negotiations the new employer agreed to review current salaries and make a proposal in the next two weeks.Negotiations also included an agreement to provide employees with new uniforms and to pay travel expenses and accommodation for workers who live outside the train routes.The Public Services Regulatory Authority said Tuesday afternoon that it is considering filing an administrative complaint against INCOFER for suspending a public service that impacted the daily routine of thousands of citizens.Lawmakers agreed to call INCOFER president Vargas to appear before the Legislative Assembly on Thursday to explain why the train operator hired a new private contractor to provide train services.In 2015, trains transported a total of 3.7 million people around Cartago, Heredia and San José, INCOFER reported earlier this year. The company is working on opening a new route between San José and Alajuela. UH: Acuerdo entre maquinistas y contratista logra reanudación del servicio de trenes para mañana miércoles 17 de agosto en horario normal— INCOFERCR (@INCOFERCR) August 16, 2016center_img Related posts:Lawmaker proposes suspending permits of motorists who crash into trains Taxi drivers to stage another demonstration against Uber Taxi drivers to stage nationwide protest against Uber on Tuesday Costa Rica to purchase eight new trains from Chinese companylast_img read more