30 August 2017

Mount Low – Top Price Property Of The Week – 6 Newell Court – $560,000

This week’s winner – 6 Newell Court Mount Low
As part of the northern beaches development corridor in Townsville North Queensland, Mount Low is popular with couples and families because of the estates such as Sanctum offering block sizes larger than the average property.
The neighbourhood of just over 4600 residents and 1430 dwellings has on average 3.4 persons occupying each dwelling.
Like the Rangewood estate featured in last week’s Top Price Property of the Week, Mount Low is a location that has acreage lots, and brings with it the value of freedom, that such an outer urban lifestyle offers.

However, Mount Low has standard residential lots also which have been presented and made appealing to investors. Mount Low has a higher average number of rental properties than all of Townsville suburbs combined.
Image: Front view of 6 Newell Court Mount Low Photo: Explore Property
In addition, the lifestyle of Mount Low is semi-rural located on the northern beaches and just a short bike ride to Bushland Beach.
As twelve percent of the population attend university studies, construction of the final stage of the Townsville ring road has connected Mount Low and the northern beaches to major infrastructure and services at James Cook University, Townsville Base Hospital and Lavarack Army Barracks, reducing the journey time by as much 20 minutes.
The vendors and agents have achieved an excellent result getting this property to TREN’s Winner of the Top Price Property of the Week with a sale price of $560,000.
In the face of what many commentators and the researchers have confirmed, the market for sellers has been very tough indeed.
Property estate agent, Alison Gough from Explore Property supplied a description of the property for TREN.
The property

Ms. Gough said the property has a “Modern home that provides freedom both inside and out is just what the astute acreage buyers are looking for and this home offers just that. A generous five-bedroom home with multiple living areas and livable bedroom spaces is just the start.

Image: Kitchen view of 6 Newell Court Mount Low Photo: Explore Property
“The master suite presents as a genuine retreat with two-way access walk through wardrobe, dual vanity and a substantial bedroom space. A central kitchen area with ample storage options, island preparation bench and induction cooking is a pure pleasure.
“Liveable Features include:
  • Semi open plan living from the kitchen
  • Generous Theatre room
  • Cleverly designed wide hallways
  • Separate bath and shower to the main bathroom
  • Split system air conditioning throughout
  • Built in wardrobes
  • Internal laundry
  • Double linen cupboard

"A 4,426 sqm fenced allotment with established gardens accompanied by drip feed irrigation.
“The 12 x 7.5 metre powered work shed has clear driveway access to the back of the property and the home includes remote double garage.
“Located just 15 minutes north of the Townsville CBD and Townsville Airport, Mount Low is positioned in the heart of Townsville’s growth area – The Northern Beaches.
“Mount Low is now a short 10-minute drive from the Townsville Hospital, James Cook University and Lavarack Barracks thanks to the recently completed Stage 4 Townsville Ring Road extension which links the Northern Beaches directly to essential services and major employment hubs.
“Within close proximity are local State and Catholic primary and secondary schools as well as access to the beach and boat ramps to experience some popular fishing destinations.”, Ms Gough said.
Investment profile

The suburb of Mount Low has a population of 4655 people, 1656 dwellings and 1273 families based on the 2016 Census.
Residents living in Mount Low have an average weekly income per person of $840. On average families earn $1926 and households earn $1,869 per week. 14.6 percent of residents earn more than $3,000 per week in income.
The suburb has generated approximately 60 sales over the past 12 months.
Mount Low has a current median house price of approximately $345,000. While just twelve 12 months ago, the suburb recorded a median house price of approximately $380,000.
The decline in the median house price represents an approximate drop of -9.3 percent. In 2013, the median house price was approximately $328,000 and five years earlier $166,000.
The historical medium house prices indicate the short history of the suburb and the growth that has occurred in such a short period where in 2011 the census shows just over 2000 people lived in Mount Low compared to 4655 in 2016.
Mount Low has inadequate unit dwelling stock to define a reliable median price. In August 2016, the suburb had just 2.4 percent of the population living in semi-detached units. 97.3 percent are separate houses. 67.8 percent have 4 or more bedrooms and 28.1 percent of dwellings have 3 bedrooms. The balance of dwellings is 1 and 2 bedrooms.
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48.2 percent of dwellings in the suburb are owned with a mortgage, while a significant 39.4 percent are rented and 10.4 percent are owned without a mortgage.
Mount Low is a very popular location for families comprising 86.6 percent of all households.
Also, Mount Low has substantial investor interest because of the high number of rental properties which is slightly above the Townsville average and nearly 10 percent above the Australian average.
Based the 2016 Census, the median rental price for houses in Mount Low was $330 per week with an approximate rental yield of 4.8 percent, down from approximately 6.0 percent in 2013.
Approximately 230 rental properties were turned over and/or newly built in the market over the past 12 months.
The average mortgage payment per month in the estate is $2,058. And again, over 88.4 percent of households with a mortgage spend less than 30 percent on mortgage payments per month.
Achieving a sale price of $560,000, the weekly top price property at 6 Newell Ct Mount Low will impact the median sale price for the area as it is approximately $215,000 above the current median sale price for houses in the suburb.
The Townsville market is showing signs of a recovery on the back of increased business confidence, development stimulation and industry investment.
The vendors purchased the property as block of land or a house and land package in November 2004. The land purchase price was $75,000. The cost of the build is not available.
The demographic profile of Mount Low is favourable to families; older, maturing and young couples make up 72 percent of the population. Independent singles, youth and the elderly makeup approximately 21.8 percent.
The suburb is approximately 1 ½ to 3 kilometres from two government and one private Catholic school for primary and secondary students. James Cook University, Townsville Base Hospital and Lavarack Army Base is approximately 20-25 minutes drive from this property.
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Recipe Favourite – Coconut Blueberry Banana Cake

Coconut Blueberry Banana Cake
It is so much fun getting creative with food. Here I have modified the recipe posted last week.
We enjoyed the light coconut flavour of the Malibu Tropical Coconut Cake, added some bananas and blueberries whilst decreasing the sugar content and increasing the flour quantity.

This combining of these beautiful flavours has resulted in a very easy to make cake that even the savoury lovers will want to give this a try.
The point of this is to adventure out with food and try different things to discover something you enjoy.

2 ripe bananas
1 tin of well-drained blueberries or 1 cup of fresh blueberries
50 grams desiccated coconut
150 grams boiling water
225 grams butter
100 grams caster sugar
1 teaspoon vanilla essence
3 eggs
250 grams self-raising flour
½ teaspoon baking powder

25 grams butter
180 grams cream cheese
375 grams icing sugar
25 grams desiccated coconut
4 tablespoons Malibu coconut rum or Bailey’s Irish Cream

Preheat oven to 180 degrees
Image: Coconut Banana Blueberry Cake with Icing
Photo: Jodie Klaproth
Soak the coconut in the boiling water and leave for about 5 minutes.
Whilst the coconut is soaking, blend the bananas until they are mushy.
Put all the ingredients (except the blueberries) in the mixer and mix until you have a soft batter.
Pour the soft batter mixture into a bowl and fold in the blueberries until they are mixed through. Be careful not to mix too hard that the blueberries fall apart.
Line a loaf tin or square cake tin with wet baking paper.
Pour the batter into the lined tin and cook in the oven for 25 – 35 minutes.
Check to see if ready by inserting a skewer or metal rod and if comes out clean then the cake is cooked.
Whilst the cake is cooking prepare the icing by beating the butter until soft and creamy.
Add the cream cheese and beat until smooth.
Add the icing sugar, coconut and Malibu/Bailey’s and mix until combined.
Once the cake is cooled to room temperature of cooler than ice the cake with the frosting.
Note: This cake is best refrigerated.
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Crime: Is The Solution In The Reason? Exclusive Report From Local Candidate

Crime – an investigative review of hand outs and lack of discipline

One has to ask why the increase in crime across the country and why the offenses that are taking place are so prolific.

Is it because some fifteen years ago, young couples were offered money to have children instead of having them for the pure satisfaction of loving and nurturing their own offspring, with little or no financial help?

Is it because of the lack of discipline? Not being allowed to smack your child and, wrapping them in cotton wool for fear of their feelings being hurt?

Is it because of the breakdown of the family unit with children feeling the guilt of a loveless marriage and separation from their parents as they are handed from parent to parent week-on and week-off?

Domestic violence leading to the child not understanding any other way of life and believing that it is ok to hit and be hit, as they know no better, may be a connection that leads to their violent future.

With many children now in child care, as mum and dad have to work to make ends meet, children often miss out on that one on one time with their parents – and the luxury of simple things – such as the smell of biscuits coming out of the oven and a chat with mum after school over issues such as bullying and poor school grades, may lead to many children believing that their parents just don’t care.

Is it because children are having children with no role models or guidance? No training to be mothers and fathers from school education, and no family support.

Worse still, the case of poor parenting being the only mentoring for some young mothers, which relies upon the rule that ‘the apple doesn’t fall far from the tree’ only leading to a bitter unbroken cycle in the future?

Lack of self-esteem and respect from growing up in a family that doesn’t care whether they exist or not contributes to a forever cycle which only escalates as their confidence in crime increases.

Is it because initially getting pregnant is glorified by movies and television programmes, and suddenly a young teenager is left holding the baby with no support network and realizing being a mum isn’t all sugar and roses.

Maybe getting pregnant for some is a way out of an education system they do not enjoy, or a way to earn money to get away from an abusive family environment, and, without a support network offspring from this lost environment may be why these children are committing crimes.

Unfortunately, revenge pregnancies are not uncommon, but no thought is given to the child who in turn grows up unloved and feeling unwanted.

A ‘me’ society where everything is ‘mine’ no matter what, has certainly sprung up with past generations of parents having the disposable income to spoil on their children. Buying is easier than giving the most precious gift of all which is free yet unavailable for many …the parent’s gifts of time.

We see our children fixated to computer screens in their bedrooms, shooting at cartoon people and objects, or animated games where de sensitivity with no parental supervision does not teach the rights and wrongs of the actions on the children’s screens, with some believing that what they play on the computer can be replicated in real life.

Movies can be very educational but also dangerous in glorifying crime, and giving young, vulnerable and naive children the opportunity to see the use of drugs and acts of sex that they should never be exposed to, especially whilst watching these programmes unsupervised. Sure we have censorship and parental lock systems but these only work when caring families use these controls.

Advertising of fast cars appears to be the norm, encouraging young to do the same behind the wheel, with such promotions of acceleration from 0 to 160 in seven seconds. It makes you question why when most of our roads in the country have a maximum speed limit of 100kms per hour.

Many criminal youngsters, through peer pressure, often only make contact with friends with similar criminal records and once those friends are locked up inside the need to commit a crime may manifest just to be with the only company they know.

Sadly in some cases committing a crime leads to being institutionalized with an assurance of a warm bed, three hot meals a day, television and a nice hot shower, something not available to them on the ‘outside’.

Brazen attacks often occur simply because they can, or are due to peer pressure to prove they are as tough as their mates and desperately want to be accepted by fellow criminals.

Drugs such as ice bring more violent attacks. The choice to indulge in this illegal activity because of lack of employment, boredom, insecurity and peer pressure, often appears, in their eyes, to help many to escape from the sad reality that life has led them to. Stealing and ‘dealing’ has it’s own supposed rewards for some in the form of immediate assets and opportunities to make money to fuel their next fix.

Addressing the issue of crime has not come without its problems but obviously, what has been tried is not working. Maybe addressing the issues one by one, taking each criminal case on an individual basis and taking the time to find out why these criminals, many of them as young as ten years old are committing such acts may be a help in finding the solution.

No one solution will fit the cap of every criminal but maybe it’s a start to breaking the cycle of terror that many have experienced during the violation of their homes, and, theft and damage of their possessions.

Last but absolutely not least is the victims.

No matter how irresponsible we as ordinary people are for leaving items around, not locking our houses, walking home in the dark, wearing a short dress or leaving keys in cars, is absolutely no excuse for anyone to help themselves in any way shape or form to anything or anyone.

Victims work hard for every single asset they gain and the anger and frustration in many can be felt loud and clear. The inconvenience of no vehicle, or repairs to it whilst chasing up insurance companies, as well as the increase in insurance premiums, having to chase up the banks to cancel credit cards and wait for new ones, repairing or replacing damaged property and worst of all having to heal both mentally and physically certainly takes its toll. A toll, our society should not have to take, ever.

Maybe somewhere there is a solution, but doing what is being done now is not working we need to find a new way, but first, let’s ask why. Maybe no one knows what the solution is but taking time to find out the reason is a good start.

Author: Margaret Bell, Candidate for the One Nation Party in the State seat of Hinchinbrook

Margaret Bell
One Nation Candidate

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How Government Have Widened The Gap Between Generations In Home Ownership

Various government policies have fuelled the demand for housing over time, expanding the wealth of older home owners and pushing it further and further beyond the reach of young would-be home buyers. A new study highlights this divide between millennials and their boomer parents.

The study is part of a Committee of Economic Development of Australia (CEDA) report called Housing Australia. It compares trends in property ownership across age groups over a period of three decades.

Between 1982 and 2013, the share of home owners among 25-34 year olds shrunk the most, by more than 20%. On the other hand, the share of home owners among those aged 65+ years has risen slightly.
The rate of renting has spiralled among young people. By 2013, renting had outstripped home ownership among 25-34 year olds.
Same policies, different impacts on generations

There is undoubtedly a growing intergenerational divide in access to the housing market. The timing of policy reforms has been a major driver of this widening housing wealth gap.
Negative gearing has long advantaged property investors, potentially crowding out aspiring first home buyers. While negative gearing was briefly quarantined in 1985, this was repealed after just two years.

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The appeal of negative gearing grew as financial deregulation spread rapidly during the 70s and 80s. This deregulation widened access to mortgage finance, but also pushed real property prices to ever higher levels.

In 1999, the Ralph review paved the way for the reform of capital gains tax on investment properties. Instead of taxing real capital gains at investors’ marginal income tax rates, only 50% of capital gains were taxed from 1999 onwards, albeit at nominal values.

The move, designed to promote investment activity, actually aggravated housing market volatility. The confluence of negative gearing benefits and the capital gains tax discount encouraged investors to go into more debt to finance buying property, taxed at discounted rates. The First Home Owners Grant, introduced in 2000, was another lever that increased demand. In the face of land supply constraints, these sorts of subsidies were likely to result in rising house prices.

Other policy reforms, while not directly housing related, have also affected young people’s opportunities to accumulate wealth.
The Higher Education Contribution Scheme (HECS) was introduced in 1989, at a time when many Gen-X’s were entering tertiary education. This ended access to the free education that their boomer parents enjoyed.
HECS parameters were tightened over time. And in 1997, HECS contribution rates rose for new students and repayment thresholds were reduced.

Of course, the 1992 introduction of the superannuation guarantee would have boosted Gen X’s retirement savings relative to boomers. However, these savings are not accessible till the compulsory preservation age, so can’t be used now to buy a house.
All these policies have clearly had varying generational impacts, adversely affecting home purchase opportunities for younger generations while delivering significant wealth expansion to older home owners.
An intergenerational housing policy lens

A new housing landscape has emerged in recent years. It is marked by precarious home ownership and long-term renting for young people.
It’s also dominated by a growing wealth chasm – not just between the young and old – but also between young people who have access to wealth transfers from affluent parents and those who do not.
The majority of housing related policies do not consider issues of equity across generations. There are currently very few examples of potential housing reforms that can benefit multiple generations.
However, there is one policy that could – the abolition of stamp duties. It would remove a significant barrier to downsizing by seniors.
The equity released from downsizing would boost retirement incomes for seniors, while freeing up more housing space for young growing families. Negative impacts on revenue flowing to government could be mitigated by a simultaneous implementation of a broad based land tax. This would in turn push down house prices.

As life expectancies increase, the need for governments to take into account policy impact on different generations is critical. On the other hand, policies that take a short-term view will only worsen intergenerational tensions and entrench property ownership as a marker of distinction between the “haves” and “have nots” in Australia.
Author: Rachel Ong Deputy Director, Bankwest Curtin Economics Centre, Curtin University

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