Connect with us

Residential

How long it takes to earn rent in each state

HOW many hours work does it take you to cover your rent each week?Brisbane Investor,Property Management, Real Estate Brisbane, Mortgage Broker Brisbane, Brisbane property market

A widely accepted measure of affordable housing says that if your rent costs less than 30 per cent of your gross income, or a third of your working week, you’re doing OK.

Comparing ABS data on average full-time earnings with RP Data figures on median rents shows how many hours on average it takes for a full-time worker to make their rent in each state.

Joel Pringle, campaign manager at Australians for Affordable Housing, says rent is much less affordable in the Northern Territory compared to other states because of the mining boom.

“Because the population and the existing housing stock is so low [the rise in the number of people living in the state] has pushed up the prices,” he said.

 Mr Pringle said high rents in the ACT were largely due to high white-collar employment.

“And it’s such a small territory, such small population, that any swing really shows up,” he said.

Mr Pringle added that high unemployment rates in Tasmania and South Australia meant that those who were employed were in a much better position to afford housing.

NT
Median house rent: $590 (takes 16.6 hours to earn)
Median unit rent: $460 (takes 13 hours to earn)
Average weekly salary: $1417.4 ($35.44 per hour)

ACT
House rent $510 (takes 12.4 hours to earn)
Unit rent: $430 (takes 10.5 hours to earn)
Average weekly salary: $1645.1 ($41.13 per hour)

NSW
House rent: $410 (takes 11.7 hours to earn)
Unit rent: $430 (takes 12.29 hours to earn)
Average weekly salary: $1398.90 ($34.97 per hour)

QLD
House rent: $385 (takes 11.2 hours to earn)
Unit rent: $350 (takes 10.2 hours to earn)
Average weekly salary: $1370 ($34.25 per hour)

WA 
House rent: $420 (takes 10.7 hours to earn)
Unit rent: $420 (takes 10.7 hours to earn)
Average weekly salary: $1590.6 ($39.77 per hour)

VIC
House rent: $340 (takes 10.2 hours to earn)
Unit rent: $340 (takes 10.2 hours to earn)
Average weekly salary: $1331 ($33.28 per hour)

SA
House rent: $320 (takes 10 hours to earn)
Unit rent: $280 (takes 8.8 hours to earn)
Average weekly salary: $1276 ($31.90 per hour)

TAS
House rent: $280 (takes 9.1 hours to earn)
Unit rent: $250 (takes 8.2 hours to earn)
Average weekly salary: $1226.6 ($30.67 per hour)

Australians for Affordable Housing also looked at the average salary of each job and analysed which workers must spend more than 30 per cent of their income in order to afford the median rents in each capital city.

In the Northern Territory and Queensland less than one in 10 professions pay salaries that can cover median capital city rents by spending less than 30 per cent of the pay cheque.

In the NT just one profession (engineering professionals) out of 86 can cover the median capital city rent for a house.

Eight professions (sales, marketing and public relations professionals; architects, designers, planners and surveyors; air and marine transport professionals; machine operators; stationary plant operators; mechanical engineering trades workers; building and engineering technicians and engineering professionals) can cover the median capital city rent for a unit.

In Queensland just five professions (health therapy professionals; engineering professionals; financial brokers and dealers, and investment advisers; air and marine transport professionals; medical practitioners) can cover median capital city rents for houses and units.

 

Article originally published in www.Couriermail.com.au   by Sarah Michael  News.com.au 8/5/2013

Brisbane

$2.55 million sale in Le Bain tops Brisbane’s trophy apartment results

A $2.55 million sale in the Le Bain complex was the priciest revealed apartment sale of the past week across Brisbane.

The sale of 1502/22 Wyandra Street, Newstead was secured by City Realty agent Ari Sharbazifar who notified the sale to major websites on May 4.

The marketing advised Le Bain’s final penthouse release offered 220 sqm internal and external layout. There was 40 sqm wrap around balcony with sunset views over the Brisbane CBD.

“Le Bain is walking distance to local must-haves, Total Fusion Platinum, The Standard Market, Wine Emporium, Woolworths Gasworks (QLD top Woolworths), Newstead Organics, Gasworks Medical Practice, Terry White Pharmacy and a multitude of top restaurants with takeaway/pickup options such as Hellenika, SK and Beccofino,” the marketing noted.

 Le Bain

Le Bain 20 Wyandra Street, Newstead QLD 4006 

Residents shared the rooftop amenity which features a pool, magnesium wellness spa and a traditional Finnish sauna.

There is also a private fitness club featuring an external 25-metre long multipurpose lawn for stretching, sprints, lunges and yoga.

Residents can access the private dining room with fully equipped chef’s kitchen.

Le Bain’s 15 levels feature 128 one, two and three bedroom apartments. The complex was developed by Cavcorp, who offer a 50 year structural guarantee on every project.

Le Bain was Cavcorp’s eighth project on the Newstead peninsula since being founded by the Cavallucci family in 2003.

Their prior projects include Kurv, One Oak and Lucent.

Its upcoming project in Luminare.

 

Article Source: www.urban.com.au

Continue Reading

Gold Coast

Grant Hackett’s luxury Gold Coast beachfront villa snapped up in five days for $2.625m

Grant Hackett

A luxury Gold Coast pad owned by former Olympian Grant Hackett and located on “Millionaires’ Row” has sold after being on the market for just five days, fetching $2.625 million.

The three-bedroom villa at 1/100 Hedges Avenue, Mermaid Beach, is on the most prestigious beachfront strip in Queensland, metres from the beach and local cafes.

Listing agent Troy Dowker, of Broadbeach-based real estate agency Kollosche, said it was one of quickest sales he had been involved in.

“We received three cash, unconditional offers within about 36 hours,” he said.

“And, on Tuesday, we had it sold for $2.625 million.”

The contemporary home, which spans 331 square metres over four levels, boasts multiple, open-plan living spaces and floor-to-ceiling glass doors and windows designed to make the most of the stunning ocean views.

Its most appealing feature is the fourth-floor rooftop terrace with a barbecue kitchen and al fresco dining and panoramic views of the Coolangatta coastline back to the mountains.

It also boasts two double lock-up garages and visitor parking, plus a private internal lift to take residents from the basement garage to the show-stopping rooftop terrace.

Grant Hackett

Inside the luxury beachside villa that Grant Hackett sold for $2.625 million. 

Hackett, who grew up in the adjacent suburb of Mermaid Waters, bought the home in 2014 for $1.5 million, public records show.

“It’s a perfect spot. Steps away from the beach and I absolutely fell in love with it straight away,” Mr Hackett said earlier.

In the past four years, the gold medallist known as one of Australia’s best long-distance swimmers, has relocated to Melbourne with his family.

While they have used the Gold Coast property as a holiday home since, they have decided it is time to sell so they can upsize in Melbourne.

“There’s no news yet but our family is growing down here in Melbourne,” Mr Hackett said last week. “We want to get a bigger property down here in Melbourne.

Grant Hackett

Grant Hackett plans to buy a larger property in Melbourne after selling his Gold Coast holiday home this week. 

“When we do go up [to the Gold Coast] we are spending all our time with our family. It doesn’t make sense to hold such a beautiful property any longer.

“From our perspective, we’re sad to see it go but I’m sure someone else will get some pleasure out of it.”

The bright-and-breezy luxury beach pad was scheduled to go to auction on May 30 but strong buyer interest meant it sold more than three weeks beforehand.

Mr Dowker said he received offers from a local buyer and a Sydney buyer but it was snapped up by a buyer from Toowoomba, who had been looking for a holiday home in the area for more than a year.

While Mr Dowker said he anticipated the luxury modern villa to be in high demand, he didn’t expect it to sell so quickly.

“It’s an incredible home, particularly with those multiple levels of living, a really fresh, modern feel that is timeless, and then that incredible rooftop space with those 270 degree views,” he said. “It’s just got so much appeal.”

 

Article Source: www.domain.com.au

Continue Reading

Brisbane

Beautiful Queenslanders: Family home goals in Brisbane’s inner south

A Brisbane property power couple have placed their exquisite Queenslander on the market – offering a timeless slice of renovated real estate they say was the ultimate pandemic-proof paradise.

Dubbed ‘Magnolia’ and perched on a rare 1012-square-metre parcel ensconced in greenery, the magnificent five-bedroom homestead, at 108 Plimsoll Street, Greenslopes, was slowly transformed from an ageing cottage into a luxurious family abode by James and Angela Curtain, of Place Estate Agents Woolloongabba – with the result being a masterclass in old-world charm and modern elegance.

Featuring a wine cellar, a glass-framed saltwater pool, wool carpets and a carefully crafted layout blending resort sophistication with warmth and functionality – the home oozes a sense of style that Mrs Curtain said they spent over a decade cultivating before finally deciding it was time to downsize.

Brisbane

108 Plimsoll Street is on more than 1000 square metres of land in inner-city Greenslopes. Photo: Place Estate Agents

“This is one of our more memorable renovations and, because we’ve lived in it for longer than any other home, we will miss it,” Mrs Curtain said.

“We’ve hosted big family Christmases here and two 21st birthdays. We have lived in it and loved it for 12 years and even during COVID we had all our family here. We had our three boys and even their girlfriends and we had some beautiful times just cooking and entertaining and drinking wine so that it (the quarantine) was actually wonderful.”

The couple, who have had a long love affair with the quintessential Queenslander, said it was easy to see the potential of the grand old abode all those years ago, inspiring them to snap up the property off-market and undertake a series of major makeovers that included removing an old forte, extending the second level and transforming the carport underneath the house.

“We have moved quite a lot and we have renovated homes and built them, but then we found Plimsoll Street and we fell in love in with this home and the potential it had,” Mrs Curtain said.

Brisbane

A beautiful old tree shades the sprawling backyard. Photo: Place Estate Agents

“Because it was in its original form it had all the original fretwork there and the beginnings of some beautiful gardens with magnolia trees and then there was the privacy of the pool which we loved.

“But the garage was underneath the house and it wasn’t built in at all. It was just cement floors. Up the back was an old forte and that in time we got rid of and we also carpeted all the bedrooms.

Brisbane

The house features generous bedrooms. Photo: Place Estate Agents 

“In the last three years, we completely renovated the whole home and we dug in underneath the garage. We’ve put in a new kitchen with marble, we built in the side verandah and created the study with timber shutters that provided a closed in space. We also installed an internal staircase to go downstairs to the wine cellar.”

With attention to detail at the forefront (an aspect of renovating that Mrs Curtain said was arguably the most important) the home now features a fireplace, three bathrooms, a full-sized home office, a home gym, the insulated wine cellar with a humidifier and 130 square metres of lawn alongside the kitchen, which opens up to the al fresco area with a professional bar set-up.

Brisbane

108 Plimsoll Street, Greenslopes. Photo: Place Estate Agents 

Additional elements include the airconditioning, ceiling fans, automated awnings and an outdoor firepit, alongside a full push sound and vision technology system on both levels that add modern functionality to the original character features such as high ceilings, VJ walls and timberwork.

For Mr Curtain, who is the Woolloongabba office director, these features combine to make an incredible family abode with the x-factor being the land.

“The thing that first caught my eye was (not only) the 1000-square-metre block but that both of the neighbouring blocks are the same size and even the blocks behind are of a similar size so you have a great sense of space from your neighbours,” Mr Curtain said.

“It offers a beautiful level of privacy and it’s a great place to relax and getaway. The other thing when we bought it is I could see that the living spaces had the ability to be transformed into the type of space we wanted.

Brisbane

The downstairs of the house is also spacious and bright. Photo: Place Estate Agents 

“As a real estate agent, you do look at a lot of beautiful properties but the ones you think will work for you are few and far between.”

While they love the enduring style of the classic Queenslander while understanding the intricate details that make a home work for the modern family, even they couldn’t have predicted just how much their meticulous renovation would suit a post-pandemic world.

“I think you can see now that post-COVID there is a greater pressure to study from home and work from home and even the fact that we haven’t had the ability to travel means the space we have has become more critical,” Mr Curtain said.

“When we were renovating, we weren’t expecting it but when it [COVID] struck we were more than comfortable and able to accommodate teenage boys and girlfriends but also maintain our exercise and then when it came to entertaining and that wine cellar (we were thrilled).

Brisbane

The original character of the Queenslander has been preserved and extended to incorporate modern luxuries. Photo: Place Estate Agents 

“We are certainly going to miss the house and it will be a difficult transition but it’s time to move on.”

The property will go up for auction on May 15 at 11am through Denis Najzar and Chris Dixon, of Place Woolloongabba, and has already accrued buyer interest from locals, interstate buyers and offshore home-hunters.

 

Article Source: www.domain.com.au

Continue Reading

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

gold coast property management

Trending