Present 28
Speaker John Newlands and his 2 sons John and Tom
Rotarian Cliff Harmsworth from Mermaid Beach
Toast Peter Dimond to St Patricks Day
Sarg Bill Rex
Dr Graham Sivyer gave an update on Vanuatu Pentecost Island Project
Structure estimated to be completed by the end of April then to be flat packed for shipping. Rotaract members from Griffith University working on the structure. Surgical equipment etc from the Uni sorted and already sent over.
President Les Bulless gave an update on coming events including District Conference, Hub trivia night 30 March and a talk from our Mt Tamborine RYLA attendee In April.
Raffle. P Armstrong
Heads and Tails. David O Dwyer
Ray Milton introduced Guest Speaker John Newlands
Main Points
Strong Sellers Market at the moment from
- Low interest rates for property approx 2%,
- Interstate migration from perception Gold Coast safe and clean and
- QLD has affordable property and a good lifestyle.
Much higher prices for property and this year there were 283 (1 Million plus ) properties sold compared to 115 at this time in 2020. Investors are moving from low interest bank returns to higher property returns. Low interest likely to be stable for 2-3 years given high unemployment.
Infrastructure investment also helping demand.
$2.4 billion Coomera Connection
Casino -high end towers
Gold Coast Turf Club - new track and stable refurbishment
Vacancy rate 1.1% is very low creating demand with high rentals being achieved 3 bed house av. $600/week and unit av. $450/week.Property prices have increased in some areas by 30% over the last 5 years and in some areas 15%-28% over the last year.
Reforms are needed to stop stamp duty impost, red tape on approvals and allow new home grants to purchase existing properties.
Units are changing to fewer facilities to reduce body corporate, lower rise and gardens, open space within larger units.
