If the gap fits …

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Cooling market, better affordability ahead for Queensland homebuyers

first_imgQueensland is tracking quite well on the affordability front. Picture: Brendan Radke.HOME loan affordability has increased across Queensland while the Brisbane property market has cooled to more sustainable growth, according to the PRDnationwide’s Australian Economic and Property Report 2017 released today.The report showed Brisbane’s median house price grew an average of 1.5 per cent in the first half of 2017 but growth had slowed from an increase of 7.1 per cent in the year to May 2016, to 4 per cent in the following 12 months.PRDnationwide national research manager Dr Diaswati Mardiasmo said it signalled a return to usual, more sustainable levels of strong growth that the Australian market was experiencing prior to the property boom.“Affordability is the key issue and (Queensland) is tracking quite well in that sense,” Dr Mardiasmo said.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours ago“People can still access quite a lot of suburbs under $500,000, which is not the case in Sydney and Melbourne.”She said “the Brisbane rate of income growth was disproportionate to (residential property) price growth”.“Over the past 10 to 15 years growth had tracked around 5 per cent, which was in line with our wage and income growth. So the fact that we’re still growing at 4 per cent is great because we’re still seeing that capital growth but it’s more sustainable.”Across the state, the Queensland regional markets recorded growth of 4 per cent in the first half of 2017, the highest increase of the three main states (NSW, VIC and QLD) and third highest nationally.The PRDnationwide report also found Brisbane rental vacancy rates held steady at 3 per cent and median rents had increased by 1.3 per cent.Dr Mardiasmo said the vacancy rates were the right side of healthy and the rental change was much more affordable compared to other capital cities, so it was good news for investors and tenants alike.Home loan affordability in Queensland increased by 3.6 per cent annually to March 2017, the report found. Nationally the proportion of family income needed to meet home loan repayments decreased from 31.7 per cent to 30.4 per cent and the proportion to meet rent payments decreased from 25.1 per cent to 24.6 per cent in the same time.last_img read more

Football: Arsenal hit by food poisoning in China

first_imgShanghai, China | AFP | Arsenal were ravaged by food poisoning in Shanghai that ruled several key players out of their preseason friendly with Bayern Munich on Wednesday, manager Arsene Wenger said.The Frenchman revealed the sickness that had swept the Arsenal camp, coupled with the severe heat in China and long flights, made for far-from-ideal preparations for another taxing campaign.Wenger was shorn of Olivier Giroud because of food poisoning, then captain Per Mertesacker pulled out of the game just moments before kick-off because he too fell ill with the same problem.New signing Sead Kolasinac also had to come off before the break, while Aaron Ramsey and Theo Walcott were only substitutes because they were sick.Wenger’s ailing men were outplayed for long periods by Bayern before salvaging a last-gasp 1-1 draw and then winning 3-2 on penalties.Arsenal were particularly poor in the first half in the 36 degrees Celsius (97F) heat and Wenger admitted that the extreme conditions in Shanghai were “a shock” after flying in from Australia, which is in its winter.“I was a bit scared that tonight we could have big problems and in fact in the first half we suffered a bit,” said Wenger, under pressure to get Arsenal back in the Champions League this season.“Ramsey finished the game, but Walcott, Kolasinac, Mertesacker, Giroud, they all had a little food poisoning.” Wenger said the club — who next travel to Beijing to face Chelsea on Saturday — did not know what caused the food poisoning.Wenger added of the punishing preseason schedule that many top European clubs now undertake to far-flung destinations for commercial reasons: “If you ask me is it ideal physically to prepare? I’d say certainly not.“Has it got other advantages? Yes because we can meet fans all over the world so that is very positive.”Reserve goalkeeper Emiliano Martinez was the unlikely hero for Wenger and Arsenal, saving Juan Bernat’s soft spot kick after Gunners substitute Alex Iwobi nodded in the leveller right at the end of normal time.Robert Lewandowski had needed just nine minutes to fire German champions Bayern ahead from the penalty spot as they outplayed Arsenal, before Iwobi’s late intervention meant the game went straight to penalties.Both sides fielded a mixture of first-team regulars and reserves, with new Bayern signing James Rodriguez and new Arsenal striker Alexandre Lacazette starting.Bayern play AC Milan in Shenzhen, southern China, in their next warm-up game.Share on: WhatsApplast_img read more