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

DOST-6 to host robotics competition in Iloilo City

first_imgILOILO City – TheDepartment of Science and Technology VI (DOS-6) is set to launch the RegionalScience and Technology Week (RSTW) – its biggest science and technology(S&T) event in Western Visayas. This year’s regionaltheme “Science, Technology and Innovation for the Sustainable Development”features the latest innovation in technologies, products, and researches whichcan help achieve the 17 sustainable development goals of the agency.(With DOST6/JRAGabiota/PN) Last year, the MianayNational High School from Sigma town in Capiz grabbed the championship for therobotics competition, while the Capiz National High School and Ishmael B.Orillos National High School ranked as 1st and 2nd-runners-up, respectively. The activity aims toencourage youngsters to pursue science courses in the future. It is also aplatform for heralding S&T advocacy in the region. Exhibitors showcase their robotics creation during the Western Visayas-Regional Science and Technology Week at a mall in Roxas City, Capiz last year. JRAGABIOTA/DOST6 The Mini-RoboticsWorkshop and Competition on Oct. 21-25 in this city will bring exhibitors fromthe Data Science and Technology Corporation to demonstrate to high schoolstudents some robotics concepts and masterpieces through a workshop that willlast for three days. Aside from themini-robotics workshop and competition, other activities include YES! YouthExplorers of Science, iLounge, Innovation Challenge, nuLab Mobile LearningFacility Bus, and S&T attractions. The RSTW hopes tobring science community and enthusiasts together, particularly technologydevelopers and investors including the S&T service providers, to interact,exchange ideas and pursue potential opportunities in technologycommercialization and linkages. The weeklongcelebration is part of the Iloilo Innovation Expo 2019 which features variousactivities such as the Iloilo Innovation Summit, ILOILOvation Business Matchingand Investment Forum, IFIT Job Fair and National ICT Summit, among others. last_img read more

Amazon in talks to take over some JCPennys and Sears Stores

first_imgInternet retail giant Amazon may begin to take over some department stores that have closed down inside of malls.Amazon is currently in talks with mall giant, the Simon Property Group to convert former and even some current JCPenney and Sears stores into distribution hubs to help deliver packages , according to the Wall Street Journal.Many malls and businesses have been struggling to stay afloat due to the pandemic that is limiting sales and keeping some business closed altogether.Both JCPenney and Sears have filed for bankruptcy and are planning to close hundreds of stores.While Amazon is also struggling, their struggle has more to do with keeping up with customer demand as many shoppers have transitioned into an e-commerce shopping lifestyle.Purchasing the closed stores and turning them into shipping hubs would be beneficial to both Amazon and Simon as Amazon will be closer to their customers which would speed up shipping times, and while Amazon won’t attract foot traffic to the malls, they will help pay the bills.last_img read more