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Ipswich Proves Frontier In Affordable Housing

  The ripple effect of South East Queensland’s relentless growth and urban sprawl has Brisbane’s outer western corridor shaping up as the region’s ‘final frontier’ for affordable and well-connected housing. A new Urbis report, The Future of South East Queensland Housing, forecasts the Ipswich Local Government Area (LGA) will reap the lion’s share of population, job…Read More→

Ipswich Proves Frontier In Affordable Housing

 

The ripple effect of South East Queensland’s relentless growth and urban sprawl has Brisbane’s outer western corridor shaping up as the region’s ‘final frontier’ for affordable and well-connected housing.

A new Urbis report, The Future of South East Queensland Housing, forecasts the Ipswich Local Government Area (LGA) will reap the lion’s share of population, job and housing growth as jobs decentralise from the Brisbane CBD and housing demand shifts to more affordable locations.

Author Angus McLean said inner Brisbane’s physical constraints and lack of affordable housing were already driving investment and people to infrastructure and amenity-rich satellite cities such as Greater Springfield and North Lakes, which would soon funnel into the dynamic Ipswich region.

“South East Queensland is already seeing the beginning of this shift – a desire for housing that maximises quality of life and minimises the cost of living, offering competitively priced housing opportunities in well-located destinations with proximity to amenity and infrastructure,” he said.

Mr McLean said Ipswich was shaping as such a destination with its population set to more than double to 670,000 over the next 20 years, the biggest population growth in the South East corner.

“Increasing by more than 130 per cent over the next 20 years, the Ipswich LGA will play a vital role in satisfying the future population growth of South East Queensland,” he said.

This surge of new residents to Ipswich and its surrounds will generate SEQ’s highest level of housing demand with 6,600 new homes needed each year, while jobs growth is expected to more than double to 2.6 per cent per annum, far outstripping any other LGA in the region.

Mr McLean said while the median house price in the outer western corridor had grown a solid 2.8 per cent to $325,000 in the past year, it was still the most affordable housing stock in SEQ and compared very favourably with Brisbane LGA’s median of $620,000.

Urbane Homes Director Jon Rivera said his business was investing strongly in the Ipswich region, foreseeing growing demand for well-priced housing in such a critically low supplied region.

“The western corridor is one of the last remaining areas where you will find affordable homes this close to inner Brisbane,” he said.

“Five years ago SEQ residents had options in Brisbane, North Lakes, Springfield, Logan and Northern Gold Coast to purchase a new home under $400,000, but now the opportunities are few and far between and the western corridor is the last frontier to buy a new home under $400,000.

“Investors from Sydney are capitalising on this as NSW first home buyers are being forced to geographically invest for their first home, seeing how affordable our market is in comparison to their own.

“The Ipswich median house price is sitting at a low $325,000 while people in Parramatta are paying $960,000 to live in an equal distance from the CBD with terrible connection and infrastructure.”

Original article published at www.theurbandeveloper.com  by Staff Writer 24/10/16

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Rental

Council sees long-term rental as solution to regional worker shortages

council

A council in Victoria’s alpine region is urging ratepayers not to list their properties on short-stay sites and instead rent them out long-term to help plug a major shortage of key workers.

A shortage of affordable long-term rental properties is contributing to an acute under-supply of workers across a range of industries, including hospitality, healthcare and education.

Restaurants and cafes in towns popular with holidaymakers across the state have been forced to cut their trading hours because they cannot find enough employees to remain open all week, despite an increase in visitors.

More owners listing properties on holiday rental sites, the rising trend of people leaving Melbourne for regional Victoria and the increasing tendency for young people to remain in country towns have all contributed to the housing shortfall.

In a bid to address the problem as the busy summer period approaches, the Alpine Shire wrote to all landowners this month asking them to consider long-term tenants and make the switch from short-term sites such as Airbnb or Stayz.

“We strongly encourage anyone considering their property options to make contact with council”, Alpine Shire mayor Sarah Nicholas said. “Your property could become a much-needed home for a vital key worker.”

Cr Nicholas said a “handful” of property owners had so far contacted the council about letting their homes as part of the program.

Figures supplied by the shire showed the cost of renting rose 14 per cent in the year to April in Bright, while median house prices increased by 24 per cent between 2019 and 2020.

From 2014 to 2020 median house prices in the town soared from $330,000 to $715,000.

Bright’s population grew by 1.3 per cent in the year to 2020. But by April the number of long-term let properties had fallen by 6 per cent on the year before, with some changing over to the short-term market.

Holiday accommodation is scarce in the region over the summer holiday period, but some apartments are attracting prices of $1000 a night during the peak.

However, Cr Nicholas said there were benefits to long-term rentals, including fewer costs for cleaning, marketing and furnishing.

“The income difference between short-term and long-term accommodation may be less than people think,” she said.

In a Facebook video posted by the council last month, Bright P12 College assistant principal Scott Burton said he was evicted from his rental property, and it took almost 80 days to find a new home.

Bright Brewery owner Scott Brandon said he had been able to retain workers because over the years he had worked to increase his proportion of permanent staff.

But he said it was clear other businesses were struggling to attract enough staff, with many forced to reduce their hours, particularly midweek, and some of those customers flowed over to the brewery due to the lack of options in the town.

“They might be open five days a week, but tourism is a seven-day-a-week business,” he said.

A state government spokeswoman said $5 million was being invested in new pilot programs to help tackle the housing shortages in regional Victoria.

“Locations include the high country, where the popularity of the region for both tree-changers and domestic tourism is leading to accommodation shortages,” she said.

“New planning provisions for rural worker accommodation are making it easier for farmers to provide suitable accommodation to secure the workforce they need.”

Rural Councils Victoria deputy chair Jenny O’Connor said the housing shortage was a complicated problem because councils wanted to encourage tourism to stimulate their economies, but it was contributing to the shortage of workers required to serve holidaymakers.

“It’s a wicked problem. There’s no easy solution,” she said. “As communities we want permanent residents as well as tourists.”

 

Article Source: www.brisbanetimes.com.au

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Residential

Soaring prices drive call for huge investment in social housing

social housing

Think tanks, universities and the social services sector have warned Australia’s lowest income earners face a shortage of affordable housing for decades unless the federal and state governments work together on a multibillion-dollar investment in social housing.

Two separate reports from the Grattan Institute and the Australian Council of Social Service and University of NSW released on Monday said up to $20 billion needed to be sunk into low-cost housing to make up for a two-decade shortfall that is now being exacerbated by a huge increase in property prices.

House prices have climbed by almost 22 per cent over the past year with the median price in Sydney now beyond $1.3 million while in Melbourne it is approaching the $1 million mark.

Research by the ANZ and CoreLogic last week found saving a deposit for a home was now at record levels, with the average household requiring more than a decade to save a 20 per cent deposit.

The rental market is now being affected with increases across much of the country especially in regional areas, which have also recorded record lifts in median house prices.

The independent Grattan Institute said there were about 430,000 social housing properties – where the rent is capped at 25 per cent of an occupant’s income – with no change in the number over the past 20 years. Over that same period, Australia’s population has grown by a third.

It believes a $20 billion social housing fund, overseen by the Future Fund, could provide a revenue stream from its investment earnings that would provide the revenue to build an extra 3000 social housing units a year in perpetuity. The federal government could force states to match the contribution.

By the end of the decade, an extra 24,000 homes could be in place.

Grattan’s director of economic policy program, Brendan Coates, said whichever side of politics won next year’s federal election had to sharply lift investment in social housing without which the nation’s most vulnerable would face long-term financial pain.

“Australia has a housing crisis. Australians are spending more of their incomes on housing than in the past. Poorer people are feeling the pinch most,” he said.

“Many low-income renters are living in poverty, and many more are suffering financial stress. Inequality is increasing, and more Australians are becoming homeless.”

Separate research by the ACOSS/UNSW Poverty and Inequality Partnership found the Victorian, Queensland, Tasmanian and West Australian governments have promised 23,000 social and community housing units over the next few years.

But there are 155,000 households registered on social housing waiting lists across the country and even the state government promises were only for the short term, with no ongoing commitment to lift investment in the sector.

The research found rental stress was increasing and by August rents were growing at 8 per cent, their fastest rate since 2008 and almost four times the pace of wage growth.

The associate director of UNSW’s City Futures Research Centre, Professor Hal Pawson said the states alongside the federal government had to increase their investment across the sector.

“State governments generally responded well in their emergency actions to help homeless people and protect vulnerable renters during the worst of COVID. And to their credit, some have gone much further by pledging billions for short-term social housing investment,” he said.

“But there is little sign of any positive legacy on the systemic reforms and Commonwealth government re-engagement is fundamentally needed to fix our housing system.”

ACOSS chief executive officer Cassandra Goldie said pressure on low-income earners for housing was growing.

“Community organisations across the country are telling us about the growing levels of despair experienced by people trying and failing to find affordable accommodation for their families in both metropolitan and regional areas,” she said.

 

Article Source: www.brisbanetimes.com.au

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Brisbane

Pets make Brisbane’s first build-to-rent apartments a home

build-to-rent apartments

Brisbane’s first rental only apartment building, 36 Lambert Kangaroo Point, is fast becoming home to a thriving community of happy residents, including of the four-legged variety, since opening its doors in July.

One of the building’s biggest advocates is Pablo, a French Bulldog, who took up residence in the pet-friendly building in early July, with his owners Joan and Geoff Gardner, who were seeking a city-change.

For the couple, who downsized from a five-bedroom house in Springfield Lakes, having the option to bring a pet was the clincher in choosing the building, according to Mrs Gardner.

“Having a pet can really limit your rental options, so we had been looking for a suitable property for about three months, and given the sub-standard quality of many other places that did accept pets, we were really struggling to find a place before we came across 36 Lambert.

“We love the fact that there are other dogs in the building, and we are not frowned upon when we hop in the lift with Pablo. The other residents love him.

“There are heaps of people with dogs around here. We walk along the river every morning, which is spectacular, and visit the ‘dogs only’ part of the beach in Kangaroo Point, where they can safely run off-lead. It’s only a six-minute walk away, and all the dogs are so well behaved.

Mrs Gardner also appreciates 36 Lambert’s first-class amenities and location.

“The rooftop garden is amazing with the stunning views, and the facilities, such as the pool and dining room, are all brand new and perfectly maintained. We have absolutely no maintenance and you can even hang pictures on the walls, which you can’t do in a normal rental property.

“We wanted a more urban experience and to have everything on our doorstep, so we couldn’t be better located. I work from home a couple of days a week, and post-COVID, expect to resume regular interstate travel in my role as a Sales Director. The airport is only a 20-minute drive, so that’s perfect.

“Kangaroo Point is great for us as Geoff works at the Lytton Oil Refinery, which isn’t far away either. We’re even saving on tolls.

“I barely drive anywhere now as we often catch the ferry to Eagle Street Pier, which is literally across the water, to check out all the restaurants over there. Or we take Pablo with us to Howard Smith Wharves, which is a lovely 15-minute walk.

“If we ever need anything, 36 Lambert’s Resident Experience Team is fantastic, and nothing is a problem for them. They are really responsive and love dogs. Pablo always pulls into their office for a visit whenever we come home. It’s like having a hotel concierge service.

“The build-to-rent experience offers more than we could have imagined, and we would thoroughly recommend it over traditional renting,” added Mrs Gardner.

36 Lambert offers extensive amenities not usually found in traditional apartment buildings, where renters can have exclusive access to an infinity pool; 24-hour gym; rooftop terrace complete with BBQ, cabanas, spa and stunning views; sauna; dining room for 30 guests

complete with commercial-grade kitchen; television lounge/games room; indoor and outdoor yoga spaces; parcel lockers; bike storage; dog washing facilities and a children’s play area.

The building offers renters an amenity-rich lifestyle with a mix of one, two and three-bedroom apartments, penthouses, as well as two and three-bedroom split-level townhouses with house-like proportions, all available for lease on flexible lease terms.

The building is managed by a full-time on-site Resident Experience Team, who are available to assist with resident’s lifestyle needs.

The team is friendly and very responsive, according to Mr de Guzman, who recently relocated from the Gold Coast.

“It’s great having them onsite. They attend to the building and residents’ needs really well,” said Mr de Guzman, who lives with his daughter Akira, and their cavoodle ‘Miso Soup’.

Working from home as a Business and Strategy Consultant, Mr de Guzman says he wouldn’t choose to live anywhere else in Brisbane.

“We looked for a house to rent for about a month and then I decided to inspect 36 Lambert, and I was totally blown away by it. We love it here. The views are amazing, it’s nice and quiet and cruisy.

“There are quite a few regular rental apartments on the market, but this one really stood out. It’s so close to the water, is safe for my five-year-old daughter, and the general standard of the building is very high in every regard.

“We love taking Miso Soup for walks along the river and also take him on bike rides.

“He loves going to the pet events held on the roof by the Resident Experience Team, where he meets other dogs in the building. He’s made loads of friends and gets excited when he sees them in the lift or hallway.

“My close friend lives in another pet-friendly building, but the smell of the pets there is quite overwhelming. That’s not a problem here at all, as the other pet owners are very courteous and always clean up after their pets.”

Mr de Guzman is also a fan of the lifestyle offered at 36 Lambert.

“We make full use of all the facilities in the building, especially the kids’ playroom, which Akira loves,” he added.

“We love the French bakery nearby, the cafes and restaurants, particularly The Prawnster, where you eat seafood straight off the boats.

“We’re now big advocates of the build-to-rent model. Before we left the Gold Coast, we temporarily stayed in another apartment building and found owners rent their place out on Airbnb, making it quite disruptive. You can’t do that here, which is great.”

According to Marissa Davis, 36 Lambert’s General Manager, residents are experiencing a lifestyle never before seen in Brisbane.

“Build-to-rent generally offers tenants more facilities and services than they would have access to in ‘build-to-sell‘ projects and traditional rental accommodation. Residents enjoy unrivalled amenities within the building, and will soon have a long list of on-demand services available,” said Ms Davis.

36 Lambert’s management team is working with local businesses and services to provide residents with unrivalled convenience by offering a comprehensive range of optional services, such as a dog walker and groomer; car detailer; removalist; apartment sitter; dry-cleaning services; home cleaner; handyman; babysitter; beautician; personal trainer or masseuse, as well as vehicle hire.

“Our residents really appreciate being able to have their pets with them. It really makes the difference between living in a house or a home,” added Ms Davis.

“Being pet-friendly also encourages residents to connect with each other more easily. We all know the amazing ability dogs have in breaking the ice between people.”

All residences at 36 Lambert offer light-filled contemporary interiors with extensive views across the Brisbane River, CBD or leafy surrounds, and come with high quality fixtures and fittings, and a full suite of appliances, window coverings and kitchen amenities.

Weekly rents range from $470 for a one-bedroom apartment, from $595 for a two-bedroom apartment, from $990 for a three-bedroom apartment, from $795 for a townhouse, and from $1,695 for a three-bedroom penthouse.

The building is perfectly positioned just south of the CBD and the Brisbane River, with Kangaroo Point boasting a variety of parks, restaurants, cafes, recreational activities and walking paths.

The Main Street at Story Bridge East, Stop 6 bus interchange is a three-minute walk away.

For further information on 36 Lambert Kangaroo Point, please visit 36lambertkangaroopoint.com.

 

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