Sleeping Pods
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Real estate news.

Are Sleep Pods where the Next Generation Lives?.

June 26, 2019
Sleeping Pods

We spoke to the people at Podular.

Pod hotels are one of the several disrupting movements changing the face of the modern-day hospitality industry, and expected to reach new heights at the end of forecast period growing with a CAGR of 6.31%.

The hospitality industry is witnessing some of the most unusual but promising changes over the past few years in the form of spurt in self-service hotels, bed & breakfast and affordable homestays, revolutionizing the US$ 570.18B hotel industry.

Given relatively quick turnaround times, travellers in the market for a bed probably want to use it to the fullest. That means lights off and heads down.

The Booming Sleep Pod Hotel Market Projected To Reach $226M in SE Asia Alone.

Recent interest in alternative accommodation, with funding radiating beyond early interest in Airbnb and other distribution platforms to other parts of the ecosystem, such as operators, owners, and back-end tech. “We see these start-ups championing a partial convergence between alternative and traditional accommodations from both a consumer behaviour, and technological back-end perspective”.

For more information see www.podular.com.au

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Queens Wharf Priority Development Area Approved.

January 1, 2019
Horaay Group Australia

Brisbane is set for a massive jobs boost with the Queensland Government formally adopting the development scheme for the renewal of the Queen’s Wharf Brisbane Priority Development Area.

The $3 billion Queen’s Wharf Brisbane Integrated Resort Development will deliver a world-class tourism, leisure and entertainment precinct for Queensland.

Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad said the Queensland Government, developed the scheme which will support up to 2,000 jobs during construction and 8,000 ongoing jobs.

“This development will transform and rejuvenate the under-utilised south-western edge of the Brisbane CBD, attract significant investment to the city and most importantly, create jobs for Queensland families,” Ms Trad said.

The Queen’s Wharf Brisbane Priority Development Area development scheme provides the planning framework for the assessment of the Destination Brisbane Consortium proposal.

Public submissions to the development scheme supported the area redevelopment, the Government’s commitment to sub-tropical design and heritage protection and the delivery of improvements to the pedestrian and cycling network in the Priority Development Area.

“We invited the community, residents, and business operators to view the proposed development scheme and we received 37 written submissions. Some amendments were made to the proposed development scheme as a result of issues raised in these submissions,” said Ms Trad.

Queen’s Wharf Brisbane was declared a Priority Development Area on 28 November 2014 to facilitate the planning and delivery of an integrated resort development including a casino and other related development on the site.

All development applications will now be assessed against the development scheme.

The final Development Scheme also includes provisions for a Design Advisory Panel to assist in delivering a high-quality project for the benefit of all Queenslanders and visitors.

“This part of our city is one of the most culturally and historically significant sites in Brisbane, and the Design Advisory Panel will help ensure that Queen’s Wharf is a civic landmark,” Ms Trad said.

The Design Advisory Panel will be chaired by the Queensland Government Architect, and members will be drawn from the Queensland Urban Design and Places Panel.

Source: News Release, Brisbane Development, 01, February, 2016

https://brisbanedevelopment.com/queens-wharf-priority-development-area-approved

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South Brisbane apartments return more than Brisbane average!.

December 26, 2018
Horaay Group Australia

South Brisbane apartments achieve $125 more p.w. than the average Brisbane Apartment .

South Brisbane apartments have an average rent per week of $510 compared to the Brisbane average which is $385 per week. (Residex August 2016)

$25 million Flight Centre Head Office Moves Into South Brisbane With 2,000 Staff in August 2016

Flight Centre’s new headquarters will be located within the commercial tower of Anthony John Group’s $590m Southpoint complex at Brisbane’s Southbank. Flight Centre’s new headquarters will be located within the commercial tower of Anthony John Group’s $590m Southpoint complex at Brisbane’s Southbank.

The travel company wanted to bring its diverse brands together under the one roof, and will ­vacate their current tenancies in Brisbane’s CBD to move their 2000 staff to the 23,000sq m new offices.

Southpoint is one of the ­biggest mixed-use transit-orientated developments in Queensland, located in the busy hub of South Bank. Southpoint will also feature a hotel and restaurants as well as apartments.

0.6% Vacancy For Inner Brisbane Apartments

In the March quarter 2016, Urbis surveyed projects within the Inner Brisbane Catchment. From the surveyed data Urbis recorded a  vacancy rate of 0.6% showing a tightening vacancy rate for new apartment product from December 2015 at 1.6%.

Top Ranked For Recreational Space 

Kelder Architects have ranked all new South Brisbane apartment developments and found that ARIA Property Group and Abacus/Kilcor’s Property (Spice Apartments) ranked the highest above all other developments for the ratio of recreational space to a number of apartments at 3 – 8 square meters of recreational space per apartment.

 

#1 Brisbane State High School in South Brisbane Dominates Private Schools in 2016

Despite fierce competition from expensive private schools Queensland’s top public school – Brisbane State High has dominated the 2016 NAPLAN results across the high school years. The selective school is located within the South Brisbane catchment and applications are only considered from South Brisbane residents.

Southpoint to Deliver $6 million South Bank Train Station Upgrade

Located at the southern gateway to South Bank, one of Queensland’s largest transit-oriented developments is set to deliver major improvements with an estimated $6 million upgrade to the existing train station late this year. With over 60,000 passengers passing through on a weekly basis, South Bank is one of Brisbane’s busiest train stations.

 


Neville Bonner Bridge

A new inner-city pedestrian bridge to be built as part of the Queen’s Wharf Brisbane project will honour the life and legacy of Australia’s first Indigenous parliamentarian, Neville Bonner. The new bridge will be part of the $3 billion Queen’s Wharf Brisbane development and link both sides of the river.

Iconic Sydney Brand Gelato Messina To Open Largest Store in South Brisbane. The shop is anticipated to be the largest Gelato Messina in Australia! Over 200 square metres of retail space to open in October 2016.  Messina’s first-ever Brisbane store will open its doors, confirmed by Messina director and co-founder Declan Lee. We predict a whole lot of hanging around South Brisbane in our future store at 109 Melbourne Street, South Brisbane –  Also home to Aria’s highly anticipated “Melbourne Residences.”

Foodies Converge on First Fish Lane Festival

Saturday saw the kick off of the inaugural Fish Lane Festival showcasing dishes not only from the venues in the lane but from restaurants from the wider Southbank dining precinct and beyond.

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Have a Clear Exit Plan Before taking Interest-Only Loans.

December 24, 2018
APRA INTEREST ONLY LOANS

The Australian Prudential Regulation Authority (APRA) has announced that it will remove interest-only lending restrictions from 1st January 2019.

These restrictions were originally introduced in March 2017 and essentially forced lenders to restrict the percentage of their new interest-only loans to 30% of their total home loans that they issue.

 

“This announcement is good news for experienced property investors who know how to invest in assets that provide income or growth, or a combination of both,” said Horaay Australia Head of Property Rocco Pennisi.

The announcement comes off the back of cooling markets in Sydney and Melbourne, which previously enjoyed strong growth, placing significant pressure on housing affordability.

“While we expect the measure will boost the market, we maintain our advice for buyers to have a clear exit plan before buying with interest only debt,” Mr Pennisi added.

JP Morgan’s Chief Economist Sally Auld said that while she doesn’t expect a quick acceleration in interest-only lending, she does expect borrowers to potentially benefit from cheaper interest-only loans.

“Interest-only loans were repriced quite significantly [higher] in the wake of this regulation, so there will likely be some reduction in rates for these loans,” she told the ABC.

The announcement from APRA marks the second time this year that the regulator has relaxed lending restrictions.

In April, APRA lifted the 10% annual “speed limit” on investor credit growth which had been in place since 2014.

“APRA’s lending benchmarks on investor and interest-only lending were always intended to be temporary,” APRA Chairman Wayne Byres said.

“Both have now served their purpose of moderating higher risk lending and supporting a gradual strengthening of lending standards across the industry over a number of years.”

 

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Perth, Brisbane and Adelaide housing affordability best in 20 years.

December 18, 2018
Horaay Group Australia

The latest Housing Industry Association (HIA) quarterly index reveals that housing affordability is at its highest level in 20 years in all of Australia’s capital cities, with the exception of Sydney and Melbourne. Residential property in Perth, Brisbane and Adelaide hasn’t been this affordable since 1997, according to a peak industry body.

“It is often overlooked that affordability conditions are favourable in the markets outside of Sydney and Melbourne,” said HIA senior economist Shane Garrett.

“Housing prices are more affordable in the other 6 capital cities today than has typically been the case over the past 20 years – primarily due to very low interest rates.”

HIA Affordability Index for 5 largest capital cities, December Quarter

The HIA affordability index measures mortgage repayments as a proportion of typical earnings in each market.

Perth is now Australia’s most affordable capital city, with an average monthly mortgage repayment of $2,194 representing 27.5% of gross average earnings, the Urban Developer reports.

City Average monthly mortgage repayment % of gross average earnings
Sydney $4,559 67.5%
Melbourne $3,566 48.2%
Adelaide $2,160 32.4%
Brisbane $2,466 32.2%
Perth $2,194 27.5%

“The HIA Housing Affordability Index saw a small improvement of 0.2% during the December 2017 quarter indicating that affordability challenges have eased,” Mr Garrett said.

During the December quarter, out of the 5 biggest cities, the largest improvement in affordability occurred in Sydney (+3.1%), followed by Brisbane (+1.4%) and Perth (+1.3%).

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