13 September 2017

Idalia – Top Price Property Of The Week – 8 Waterbury Terrace – $725,000

This week’s winner – 8 Waterbury Terrace Idalia
In Idalia, falling in love with the house of your dreams on a waterfront lot with designer opulence fused with beautiful indoor and outdoor characteristic causes the heart to beat above the normal resting rate.
This excitement is especially so for the buyers of this property who are returning home to Townsville from the Gold Coast to collect the keys with their young family.
It’s the beginning of a new chapter for the couple in a place they know and love because they too were raised like so many families drawn to Townsville for city’s excellent education lifestyle.
Image: Patio and pool view of 8 Waterbury Terrace Idalia
Photo: Ray White Douglas
And what a great bonus, absolute waterfront living is a dream lifestyle for many home owners.
Although everyone has the opportunity to reach these dreams if they choose, not everyone gets to realise the reality of the fulfillment and joy that a quarter of the million dollar property brings to the great Australian dream.
Now, even though the buyers may not realise this fact as they are buying a lifestyle home, they have acquired a property in a corridor that is set to benefit from an explosion in population growth to the South-west of Townsville in the coming 15 years.
This local Townsville family have worked hard, and as Townsville’s economy sprouts fresh pickings of a recovery with arguably the best educational facilities in the nation, there is no better time to buy in Idalia as the median house price has fallen back to near 2008 prices.
The location is a non-coastal suburb boasting a median house price below $400,000. Yet we are featuring a quarter of million dollar property here as TREN’s top price property of the week winner. So achieving a sale price above the market benchmark is, of course, the envy of owners and sales professionals in the property industry.

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In an exclusive interview with TREN, we will hear from the real estate agent who sold the property with over 15 years experience, Ms. Nicole Plozza from Ray White Douglas.

But firstly, let’s put the suburb into context. Idalia was developed from a light industrial suburb to become one of Townsville’s fastest growing suburbs. The Fairfield Waters development saw the construction of nearly one thousand homes. Many of the homes are designed to executive standard with large floor areas, ensuites, 4 bedrooms and quality finishing.
This week’s residential property Top Price Winner of the Week has all of the features families have come to enjoy and need such as space, comfort, convenience, security and lifestyle.

The property sold for a cool $725,000 which is $327,000 above the current median house price for the suburb at $398,000.
If it were not for this positive price outcome in properties of this calibre, Idaila’s unimpressive drop in median house prices of 25 percent since Dec 2015 could have been much worse.
These positive sales stimulate improvement in the recovery and even verify that TREN’s predicted short to medium term recovery is in full swing.
We asked the real estate agent, Ms. Plozza, what are some of the highlights for you selling this home?
Ms. Plozza said; “The greatest highlight for me was that this is the third property I have worked on with these sellers after meeting them over 10 years ago when they bought their first 2 properties from me”.
“The home is pure opulence with absolute waterfront to the lake. It’s the perfect lifestyle home that fuses the outdoors with the indoors. It was great that the buyers were coming home to Townsville from the Gold Coast.”
With a sense of excitement and pride in serving the Townsville community with more free appraisals than she can remember, the veteran real estate professional voluntarily provided a comprehensive description of the features of this gorgeous home for TREN.
Ms. Plozza said;
The property

“Spanning over an impressive 412sqm of opulence that must be seen to be believed, careful consideration has been given to the design in order to create the perfect fusion of indoor and outdoor living spaces resulting in a one of a kind lake front masterpiece.
“This property is a genuine opportunity like no other to own a statement home, meticulously designed to enhance the sprawling views over the lake toward Mount Stuart.
Image: Pool view of 8 Waterbury Terrace Idalia
Photo: Ray White Douglas
“The property has been entirely repainted internally allowing the new owners the opportunity to move right in and enjoy this stunning location. The property also has:
  • Absolute lake front allotment has uninterrupted views of the lake, Mount Stuart and mountain ranges.
  • Grand entrance complete with stunning chandelier, study nook, vaulted ceilings, large picture windows to maximize the natural light, high gloss porcelain tiles throughout
  • Striking modern kitchen with stone bench tops, glass splash backs, walk-in pantry, double oven, instant filtered hot and cold water, feature colour accents and cabinetry

“For families, the home offers uninterrupted views of the patio, pool and back garden from the kitchen, dining, lounge and master bedrooms, ideal to watch the children at play.
“In addition, the property has:
  • Expansive open plan living and dining room with cathedral ceilings, large frameless picture windows overlooking the pool, cascading natural light
  • Central theatre room with step up seating and fully equipped with surround sound system, projector, screen and eight single theatre chairs all inclusive
  • Master suite with walk-in robe and shower, separate toilet, Balinese inspired cabinetry, floor to ceiling tiles, direct access to the patio and pool
  • Three additional bedrooms fully carpeted, second bedroom features void to allow additional light and louvers to capture the breezes
  • Main bathroom dressed in opulent floor to ceiling tiles, seamless glass shower, separate bathtub and chic feature accent tiles
  • Resort style oasis pool with waterfall, glass fence surrounds and wooden decking which extends onto the patio
  • Spacious wrap around patio with spectacular lake side views and direct access to the pool, lounge room and master bedroom, the ideal entertaining space
  • Fully fenced irrigated gardens and lawns, private gate access to the lake side walking tracks, low maintenance manicured gardens
  • Third separate toilet near kitchen, 2.5KW solar system, split system air-conditioners throughout, internal laundry, oversized double remote lock up garage with internal storage
  • Minutes walk to Fairfield shopping centre, and a short drive to the CBD, Lavarack Barracks, Townsville Hospital and James Cook University.” Ms Plozza said.

Investment Profile
TREN’s research has identified that the suburb of Idalia had a population of approximately 3600 people as defined in the 2011 census. Between 2006 and 2011, the suburb grew in population by approximately 1600 people. Based on the 2016 census, the current population has increased to 4438.
The residential increase in the population of Idalia occurred when the Fairfield Waters housing estate was created in 1998. The most significant growth occurred when the Fairfield Shopping Centre was developed in 2008.
The suburb represents excellent value. Yet first home buyers of established homes are not eligible for the first home buyer’s grant if they were to buy this property. In spite of the $20,000 new home buying incentive, the discounts being experienced in Idalia are worthy of both investor and first home buyer attention.

Image: Google Map of Idalia Townsville
The suburb has a current median house price of $398,000, down approximately 12 percent from $460,000 over 12 months ago. Units in Idalia have a median unit price of $238,000 down a massive 40 percent over the past 12 months from $405,000.

The sale price achieved for this property of $725 thousand will have a positive impact on the median house prices in Idalia as it exceeds the current median house price for the suburb. Approximately 69 house sales have been recorded in Idalia over the past 12 months.
The median rental price for houses in Idalia is $410 per week producing a yield of approximately 5 percent from 194 tenanted properties in 12 months. Units have a median rental price of $330 per week producing a yield of approximately 3.7 percent from 31 tenanted units in 12 months.
Idalia has a desirable lifestyle for couples and families with shops, schools, university and well established landscaped streets and water side walking and bikes paths in the area.
Maturing, established and older couples and their families make up 58% of the population. Independent youth, make up 11% and established independent people make up 11% of the population respectively.
The old Ross River meat works in Idalia is of heritage significance. It closed down in 1995 after 103 years of operation and demolished. However, the chimney of the old meatworks has been retained.

The suburb supported workers in the meat industry, including the establishment of a meat experiment station in 1914 until it was taken over by the CSIRO in 1932. During the Second World War, a military camp was established in Idalia.
The Oonoonba Primary School has taken enrolments since 1920. The current location of the school is approximately 600 metres walking distance of this property which was established as a new school in 2002. Southern Cross Catholic School is 1.4 kilometres and three other schools are located 2 to 2.5 kilometres from the property.
James Cook University and Australia’s largest army base, Lavarack Army Barracks, is approximately 5 minutes drive from the property.
The demand for housing in Idalia has increased over 100% since prices have reduced over the past 12 months.
Over the same period, demand for rental accommodation has been steady. Prices for rental properties have also been steady while house sale prices have reduced by nearly 12 percent and unit prices have reduced by nearly 40 percent.
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Recipe Favourite – Pumpkin Bread

Pumpkin Bread
This pumpkin bread is another recipe for parents that want to hide the veges from the kids or for those “big kids” (adults) that don’t like to eat their veges either.
Pumpkin is such a versatile vegetable that can be used in a variety of ways such as sweets, spreads and as a bread.
This pumpkin bread turns out more like a cake, so I wouldn’t make plans for making a salad sandwich with it.
The recipe has a couple of variations that you can change to suit your taste.
Whether you call it bread or cake, it is delicious especially with the saltiness of some butter spread on it.

2 cups (300 grams) self-raising flour (gluten free if you like)
½ cup (100 grams) caster sugar + ½ cup sugar substitute or 1 cup (200 grams) caster sugar
2 ½ teaspoons ground cinnamon
½ teaspoon ground ginger
¼ teaspoon ground nutmeg
1 ¼ cup mashed pumpkin (mash with a little maple syrup)
2 eggs, lightly whisked
100 grams butter, melted, cooled
½ cup (125ml) skim milk

Preheat oven to 180C.
Line a loaf tin (10cm x 22cm) with baking paper, allowing the 2 long sides to overhang.
Combine the flour, sugar, cinnamon, ginger and nutmeg in a large bowl.
Combine the mashed pumpkin, whisked eggs, butter and milk in a large jug, whisk to combine.
Add to the flour mixture and stir to combine.
Pour into the loaf tin.
Bake for 1 hour then test with a skewer inserted in the centre. If it comes out clean remove from the oven to cool in the pan for 10 mins before removing to a wire rack to cool.
If not cooked through, return to the oven and bake for a further time at your discretion.
Note: If you have a Thermomix just place all the ingredients in the TM bowl on speed 4 until well blended. Then pour into loaf tin and cook as per normal.

Variation: If you want to you can add ¾ cup dried cranberries or ¾ cup (75 grams) frozen blueberries. Just add them at the very end of mixing all the ingredients so they don’t break up.

Inspiration: Paula W
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International Flights; Senator Calls For Townsville Airport Boss To Step Down

Corporatocracy Leadership Cohort Scrambling for Excuses
International flights out of Townsville to Bali will be discontinued by Jetstar from 22nd March 2018 due to a lack of patronage the budget carrier said, putting Townsville’s capital of North Queensland claims in serious jeopardy and a Senator calling for the Townsville Enterprise (TEL) Chairman to stand down.

The CEO of Townsville Airport and TEL Chairman Mr. Kevin Gill campaigned aggressively in 2014-15 with local Townsville leaders to achieve federal government support for customs and border protection resources to be stationed in Townsville in order to boost the City’s international tourism numbers.
The Jetstar decision this week comes just days after Mayor Jenny Hill criticised the budget airline’s parent company Qantas for refusing to raise the price of domestic airfares by $3 per passenger as a means of funding the proposed $80 million upgrade of the airport.
Speculation that the feud created by Queensland Airports Limited and Mayor Jenny Hill demanding that Qantas increase its airfares to pay for the airport upgrade contributed to the Jetstar decision to axe the Bali flights.
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But the CEO of Jetstar’s Australian and New Zealand business Mr. Dean Salter may have unintendedly implicated Ms. Hill and Mr. Gill because he said the $3 levy would have made the route even more unviable. However, the $3 levy does not apply to international routes out of Townsville.
When Jetstar had agreed to deliver a Townsville to Bali service in 2015, the airport CEO and Chairman of TEL said: “I encourage North Queenslander’s to embrace the new service when it starts in September, proving that there is a growing appetite for direct international services from Townsville”.
Jetstar’s argument for closing the service is that insufficient support existed for the service, which could be frustrating for the TEL Chairman who anticipated the people of Townsville would prove Jetstar’s support for the city was justified. This was not to be.
Many questions must be asked now about the management of Townsville Airport and the suggestion that Townsville’s tourism marketing under the stewardship of TEL has been poorly executed in attracting international passengers from Asia through to Townsville via the Bali route.

Senator Ian McDonald called for Mr. Gill to stand down as Chairman of TEL.
This comes on the back of advice from marketing guru Don Morris in the Pure Projects report that puts Townsvilleans and the “experiences” tourism product of the City at the centre of any future successful marketing initiative.
Now it seems the lack of accountability in the Townsville cohort of leaders and the poor execution of an Asian and global marketing plan brings a sense of déjà vu just like the highly political collapse of Queensland Nickel under the weight of unviable commodity prices.

Townsville Enterprise CEO Patricia O’Callaghan said “It’s not about simply marketing, it’s much deeper than that.” she said in a comment to Townsville Bulletin reporter, Domani Cameron.
“We need to keep going and keep analysing new routes. It does definitely impact our brand and we’re going to have to work harder”, Ms O’Callaghan reported.
City’s international reputation at risk by “reckless” Mayor
Yet there was no suggestion of accountability among the Townsville leadership cohort except the local Senator Ian McDonald who called for the Townsville Airport CEO to stand down from his role as TEL Chairman or in his role with Queensland Airports Limited.
The owner of Townsville Airport, Queensland Airports Limited, has come under further scrutiny from a rambunctious Mayor Jenny Hill who has not only accused board members of a conflict of interest in not supporting Townsville’s bid to become the fly-in fly-out hub for the Adani coal mine, but directing her exuberant comments towards Qantas for not increasing prices on flights to cover airport upgrades and undermining the national icon’s brand.
Ms. Hill has become consistent in attacking commercial brands, even visiting journalists reporting candidly on the lack of appeal of the City’s tourist attractions, using bullying tactics as a weapon for negotiation that has seen the economy plummet into recession under the leadership of the veteran Labor politician.
Reaching out to another airline to fill the void of Townsville’s international descent by Jetstar fleeing the international scene could be a tall order considering the way in which the leadership treats company’s taking commercial risks in the region.
The local government authority and the leadership cohort have become used to demanding handouts and hand ups from the federal and state government, commercial enterprise and rate payers while castigating and ridiculing businesses that have already ventured their capital in the City for a little dividend over the past 5-10 years.
Despite the good news of economic stimulation projects in construction of housing, mining and energy, and the federal and state governments’ investments in social services in the City, the Townsville leadership, communication and marketing formula for success has alluded the current crop of leaders. At the glimpse of any further withdrawl of big business, the capital of North Queensland status could be stripped too if the City loses its international airport altogether.

Strategic airlines also cancelled Bali to Townsville flight in 2011 due to the lack of passenger numbers.
Again, the ripple effect of Townsville’s downgraded tourism status and lack of vision and commercial acumen within the leadership cohort of the City presents concerns for business confidence and the supply chains that service and provide opportunities to the stakeholders in the property market.
Political and climate change related risks are serious elements to the economic sustainability of the City and Northern Australia moving forward and the direct and indirect consequence on property yields and capital values.
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Property Law – The Concept Of Property And Its Ridiculous History

Property Law
Land can be defined as any area of three-dimensional space. It is not confined to earth’s surface area and may extend above or below. Cuius est soum eius est usque ad coelum et ad inferos in Latin maxim that governs the rights of the landowner. Basically, this means the person who owns the land, owns it from the heavens above to the centre of the earth.
Of course, over time this has been changed by statute as we now have the common law view. Obviously, if we had this view of Maxim today it would literally open a lot of interpretation such as how wide, height and width etc. If any object flew over such land then this would be considered trespassing of one’s land.
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This, of course, would be ridiculous as to where would it stop. What about building sites where some object may impose at height. Thank goodness that common sense prevailed. 

However, it did not stop a case in which a plaintiff took the defendant to court as the plaintiff accused the defendant of trespass on his land whilst the defendant took photos from an aircraft above the defendant’s property. Basically, the outcome was that the landlord’s right incorporates only height necessary for the ordinary use and enjoyment of the land so common sense prevails.

What about native rights of the indigenous people with regards to property history? In a well-known case in Queensland took the view that a member of a tribe was charged by the magistrate’s court for breaching the 1974 Fauna Conservation Act for using a traditional harpoon to catch two juvenile crocodiles without a permit. This member and the tribe has a connection with the land that existed before the common law and continued as their custom. Did the Native Title Act 1993 contravene the 1974 Fauna Conservation Act? According to s109 of the Constitution, the tribe in question has a right to exercise those rights and interest.
The word property according to Leeson CJ, Kirby and Hayne JJ held (at 264), is often used to refer to something that belongs to another. But the Fauna Act, as elsewhere in the law, ‘property’ does not refer to a thing. It is a description of a legal relationship with a thing. Usually, it is treated as a ‘bundle of rights’. What they are referring to here is property does not always mean full ownership of a thing but rather the degree of power exercised over a resource or land.

Of course, property and indigenous rights have had the fair share of problems in history the Anglo-Saxon point of view was different to the Australian indigenous viewpoint of property and ownership, historically this was not reflected in English law. This is no longer the position since the famous case of Mabo that set a presentence; on native title been recognised by the common law.
It seems the concept of property is tied to the relationship of property and the ownership of it. This implies rights of use, possession, and rights of transfer. It is an ownership that gives the right to enforce laws against the world at large.
If our history is anything to go by we are in for a rocky ride into the future of property and ownership.
It seems that Common Law, on one hand, has improved some situations and others made things more difficult. Who knows what the future holds, but let’s hope that common sense prevails and that future history will learn from the past.
Author: Kathleen Dale, Business Advisor and Founder of Compass Business Advisory.

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