Brisbane council cracks down on investors operating ‘pseudo hotels’

A crack down on short-term rentals will see Brisbane property owners pay substantially higher council rates to operate holiday homes, with the local mayor lamenting ‘different tenants coming and going’. Brisbane’s lord mayor, Adrian Schrinner, unveiled the Queensland capital’s budget on 15 June, which included a steep rate hike for property owners trying to make money off the short-term accommodation marketplace. They will now pay 50 per cent higher rates than those who rent out their properties on a long-term basis. Acknowledging the pressing housing crisis facing the city during a speech introducing the new budget, he zeroed in on the rental market as an area in need of intervention. “With the rental vacancy rate now at record lows, it’s incredibly hard for tenants to find affordable places to live with six or twelve month leases. Short-term rentals may be convenient for tourists and visitors to Brisbane, but they throw up a minefield of issues,” Mr Schrinner said. “The short-term rental trend, facilitated by well-known booking apps, removes homes from the long-term rental market. To be clear – this contributes to supply shortages and increasing housing costs”.He said the 50 per cent increase in council rates would bring the levies imposed on those operating holiday rentals closer in line with what is charged to commercial operators. It will apply to whole properties (but not single room rentals) where the dwelling is available for short term stays more than 60 days of the year. The rate hike will involve the introduction of new rating categories for transitory accommodation. A property on the minimum rating level, for example, will be subject to a hike of almost $600 extra a year. Acknowledging that some might find the increase hard to take, he characterised it as a requirement for owners to “pay their fair share”. And he noted that while owners will initially be encouraged to self-identify, the council will increasingly use public reporting and its own online research to pinpoint who should be paying the increased rates. Mr Schrinner made it clear that the ultimate goal of the plan was not to rake in more money, but to encourage property owners to return their investment properties to the long-term market. “Residential streets were not meant to be home to pseudo hotels, with different tenants coming and going every weekend,” he commented. The council’s move comes just a few months after the Real Estate Institute of Queensland (REIQ) implored investors across the state to release their homes onto the long-term market, after the flooding pinched rental vacancy rates even further. “Displaced tenants and owner-occupiers are now hitting the market, desperate for alternative accommodation, adding to the already unprecedented demand for long-term rental accommodation. It is difficult to see any way that this wave of demand can be met without the support of property owners moving their properties to the long-term rental market,” Ms Mercorella commented at the time. In addition to the city’s crackdown on short-term rentals, Brisbane will also embark on a project of identifying new areas that can be unlocked to create residential and mixed-use communities. Called “Suburban Renewal Precincts,” it will look to expand the city’s residential footprint into areas that may have previously had a commercial or light industry use, according to Mr Schrinner. T

DUFFIELD 53 - LJ GILLAND REAL ESTATE LOCAL PROPERTY MANAGERS

Housing Affordability Crashes!

The latest report on Housing Affordability from ANZ and Corelogic underscores the pressures on Households, and mirrors findings from our own Stress Surveys. On every metric, affordability has crashed, but then what do you expect from 20+ years of bad policy, ultra low rates and Government incentives? And, no, the answer to all this is not just of offer more incentives to drag people into the market at these high multiples! Today's post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high - price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.

44/36 Kathleen Street, Richlands QLD 4077 - LJ Gilland Real Estate

44/36 Kathleen Street, Richlands QLD 4077 - LJ Gilland Real Estate

SOLD IN NORTH LAKES

7 Samson Street, NORTH LAKES, QLD 4509 https://www.realty.com.au/property/house-7-samson-street-north-lakes-qld-4509-1851630

SOLD IN KALLANGUR - LJ GILLAND REAL ESTATE

REDBANK PLAINS INVESTMENT PROPERTY UNDER CONTRACT 8-4-22

SOLD! 6-4-22 -THE GAP BRISBANE - FIVE STAR VENDOR REVIEW

Growth standouts over the past year have been Brisbane (27.02%), regional NSW (26.85%), and the ACT (26.4%), with regional Queensland (23.35%) also performing strongly.

Australia’s rampant home price growth slowed further in March, lifting by 0.34%, the slowest pace of growth since May 2020, according to the PropTrack Home Price Index. The PropTrack Home Price Index is an Australia-first monthly revised residential property price index just launched by REA Group’s data business, PropTrack, to deliver timely insights on home prices and market trends. The report found monthly price growth was highest in South Australia (1.03%), with Adelaide (0.84%) the top performer of the capital cities. Prices fell slightly in Melbourne (-0.02%) while larger falls have been recorded in Perth (-0.11%) and the Northern Territory (-0.13%). Findings also showed that regional areas continue to outperform the capitals in the post-pandemic market, with prices rising 25% in the past year in regional areas, compared to only 16% in the capitals. Growth standouts over the past year have been Brisbane (27.02%), regional NSW (26.85%), and the ACT (26.4%), with regional Queensland (23.35%) also performing strongly. “Home price growth has slowed considerably in 2022,” said Paul Ryan, PropTrack economist and report author. “The increase in prices across the country in March 2022 was at the slowest pace since May 2020, after national pandemic lockdowns. While price growth has slowed dramatically, it is comparing to an exceptional period – 2021 saw the fastest growth in over 30 years. In March, regional areas continued to benefit from relative affordability and preference shifts towards lifestyle locations. Regional areas in all states outperformed their capital city region.” Ryan said the easing in price growth reflects the reduced influence of lower interest rates. And with fixed mortgage rates expected to rise further as RBA increases the cash rate, probably later in the year, “the outlook for price growth remains subdued, with the speed of official interest rate hikes the big unknown for the market in 2022.” Source Broker News Best Most Recent Sale Brisbane Wide:- #VENDOR FIVE STAR REVIEW RECEIVED 10TH MARCH 2022 ⭐️⭐️⭐️⭐️⭐️ Excellent - above & beyond expectations Linda and her team have managed our investment property from Day 1. They have been totally organized, prompt and responsive to any requests during the rental period. Excellent vetting of tenants, with proactive management of the property. 12 months ago we were ready to sell, however Linda's guidance and advice suggested we should wait - which we did. Recently we decided to sell - that advice gained us an additional, yes additional, 60% over what we would have achieved previously. Very happy with her professionalism, knowledge & guidance. ⭐️⭐️⭐️⭐️⭐️ Carlos and I are very appreciative and thankful for your kind words. As a team, LJ Gilland Real Estate were privileged to look after your Investment Property, treating it as if it was our own. Please stay in touch with us for many more years as our relationship is more than just the long term business, it's a loyal trusting friendship. Thank you. https://www.ratemyagent.com.au/real-estate-agency/lj-gilland-real-estate/property-listings/26-daryl-reinhardt-st-redbank-plains-afxszs #BUYER FIVE STAR REVIEW FOR 26 DARYL REINHARDT ST, REDBANK PLAINS RECEIVED 19TH MARCH 2022 We certainly are happy customers Carlos and his wife were very helpful. I bombarded them with lots of questions and they had excellent knowledge of the property we were interested in. I am sure I was quite a complicated client . I had no experience in buying a property. Carlos is a great communicator, kept in regular touch by phone or internet and guided me through. We are very happy with the property and the process. Thank you !! Verified by RateMyAgent https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/26-daryl-reinhardt-st-redbank-plains-ab1eip

REDBANK PLAINS! INVEST OR NEST! 10 COLANE ST - LJGREALESTATE.AU

Xin Nian qui la 2022

Best wishes to all our family & friends who will be celebrating the 2022 Lunar New Year tomorrow. May the Year of the Tiger roars and ushers in a year of prosperity & good health to you and your family …….. 向明天将庆祝 2022 年农历新年的所有家人和朋友致以最美好的祝愿。 愿虎年为您和您的家人带来繁荣和健康的一年……..

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🙏✅ Excellent Realtor

Linda is a dedicated and honest real estate agent with a high level of attention to detail. Linda helped me throughout the way with the whole buying process. She followed up on her promises and assisted in ensuring the buying process was problem free. She has a significant level of industry experience and would recommend her to anyone for the sale and purchase of a property.

Verified by RateMyAgent #property #property #realestateagent #experience #propertymaintenance #propertyinvestment #property #propertymanagement #brisbanewide #referrals #wordofmouthmarketing #est1996 #ljgrealestate Linda J.姬琳达珍 Gilland (Debello) LindaandCarlos Debello Linda-Jane 姬琳达珍 Gilland(Debello) #realtor

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http://ljgrealestate.com.au/rental/11-neilson-street-lawnton-qld-4501/ OPEN HOME FRIDAY 27-8-21 5 PM - 5.30 PM

Brisbane lockdown extended: "We need another 24 hours"

Queensland Premier Annastacia Palaszczuk has announced lockdowns will be lifted for much of Queensland this evening as planned, but the detection of two new cases who visited numerous central Brisbane sites means the state capital's restrictions will be prolonged for an extra day. The ongoing lockdown will apply to both the Brisbane City Council and Moreton Bay Regional Council areas, after a mother and daughter from Carindale got tested yesterday and returned positive COVID-19 results. A third locally acquired case has also been reported - the partner of a case from yesterday. "They had been out quite extensively around Brisbane," the Premier said. "Because our contact tracers need that extra time, we need another 24 hours," she said. "We will come back early tomorrow morning once our contact tracers get on top of this, and we'll look at the case numbers overnight." Chief Health Officer Dr Jeannette Young revealed several venues the mother and daughter had visited: Harris Farm Markets, West End - Sunday, 26 June (11:50am-1:50pm) Woolworths, West End - Sunday, 26 June (approximately 1:50-1:55pm) Greek Orthodox Community Centre, South Brisbane - Monday, 28 June (most of the day) Greek Orthodox Community Centre, South Brisbane - Tuesday, 29 June (most of the day) Espresso Engine, Turbot St - Tuesday, 29 June (7:20-7:30am) Woolworths Metro, Turbot St - Tuesday, 29 June (9:30-9:35am) JB Hi-Fi, Albert St - Tuesday, 29 June (12:20-12:30pm) Zara, Queen St - Tuesday, 29 June (12:30-12:41pm) Mecca Maxima, Queen St - Tuesday, 29 June (12:42-12:50pm) "We will get more information but you can see there's a lot of venues there that we're now going to have to go and contact trace," Dr Young said. "I also need to know whether they're linked to any of our current Delta outbreaks, because of course, that's more contagious, or whether to our Alpha outbreak related to the Portuguese centre. The local government areas (LGA) where the lockdown will end tonight are Noosa, Sunshine Coast, Ipswich, Logan, Redlands, Gold Coast, Scenic Rim, Lockyer Valley, Somerset and Townsville, but some restrictions will still apply in these regions for the next two weeks. "That means everyone will have to carry a mask on them and wear that mask whenever they're outside of their home, but of course not when you're driving your vehicle," the Premier said. "This is our added protection at the moment until everyone gets their vaccine." The Premier will also be calling for a 50 per cent reduction in Queensland's international arrivals intake at today's National Cabinet to reduce pressure on the health system. Updated at 8:55am AEST on 2 July 2021.

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