YOUR FUTURE ... with Horace Cope
SCORPIO (Oct 24 to Nov 22)
After failing every literature question at a family evening playing trivial pursuit, you start to wonder if you’re about as well read as a copy of Mx.
SAGITTARIUS (Nov 23 to Dec 22)
You suspect the ABC TV might get into trouble with the Trade Practices Commission for describing the new series of The Librarians as “great Aussie humour”.
CAPRICORN (Dec 23 to Jan 20)
Especially seeing Channel 9 is still paying off heavy fines for calling every episode of Hot in Cleveland over recent months “hilarious”.
AQUARIUS (Jan 21 to Feb 19)
And you suspect ABC TV might be gilding the lily just a tad by billing its online preview episode of new comedy/drama Rake as a “world premiere”.
PISCES (Feb 20 to Mar 20)
You hear that new Queensland pollie Wyatt Roy is far from happy with his new office in federal Parliament – there’s no high chair.
ARIES (Mar 21 to Apr 20)
You begin stopping just about every person you meet in the street in your bid to find someone, anyone who actually watched the Commonwealth Games TV coverage.
TAURUS (Apr 21 to May 20)
On that note, as a constituent of Mr Roy you try to obtain an appointment to see him at his office but are told you first need to supply evidence you possess a Blue Card.
GEMINI (May 21 to June 21)
Meanwhile, you hear that things are going better down the corridor, where Rob Oakeshott’s introductory address to his new office staff is nearing its end.
CANCER (June 22 to July 23)
You hear that the motoring show Top Gear plans to test drive the sort of car that the great unwashed out there in TVland might ... just might, mind ... be able to afford – just not any time soon, okay?
LEO (July 24 to Aug 23)
You watch Top Gear Australia and Iron Chef Australia and begin to wonder if they are both made by the same production house and whether it is called Why On Earth Do They Bother Productions Pty Ltd.
VIRGO (Aug 24 to Sept 23)
You couldn’t agree more with the decision by Channel 9 to move Daryl Somers’ variety show to Saturday nights, especially the name change to Hey, Hey, It’s Wednesday.
LIBRA (Sept 24 to Oct 23)
As a teacher you welcome the Bligh Government’s new Schools Against Violence report on bullying because it is just heavy enough to knock out unruly students, yet light enough not to leave a bruise.
Thursday, November 4, 2010
Monday, October 25, 2010
Wobbly start for bike scheme
NEWS
Wet weather has made it difficult to gauge the early success of Brisbane’s new CityCycle bike hire scheme but it has not prevented both sides of City Hall from continuing their snipping over the multi-million dollar project.
Lord Mayor Campbell Newman’s administration declared itself “reasonably pleased” with the early support despite the weather, while Opposition Leader Shane Sutton blamed the scheme’s early teething problems on the Lord Mayor’s “failure to implement it properly”.
Launched last Friday week amid much fanfare, the scheme struck some teething problems other than the inclement weather, with reports of some users mistakingly returning their bikes to stations not yet commissioned, some other docking problems and some malfunctioning of the scheme’s subscriber card system.
But Lord Mayor Campbell Newman’s administration said it was happy that more than 1000 subscribers – the bulk taking year-long commitments – had joined the scheme by the end of the first week. City Council is hoping for 12,000 devotees within 12 months.
The CityCycle scheme started with 500 bikes in some 50 stations throughout the CBD, Fortitude Valley, New Farm and West End, and operator JC Decaux is expected to have bikes at 78 stations by Christmas and 2000 bikes at 150 stations once the scheme is in full swing.
“This scheme was always going to have teething problems because Campbell Newman failed to implement it properly,” Labor leader Shayne Sutton said.
“We know people have had trouble unlocking and re-locking bikes from the CityCycle stations. We’ve also heard many people have been frustrated to find that some CityCycle stations aren’t up and running – even though council is promoting them.
“This scheme has been plagued by safety concerns, community opposition, budget blowouts, delays in delivery and a shoddy implementation, and many of these concerns still remain. “Campbell Newman has set the bar for success so low that if anyone actually used these bikes they could ride straight over it.
“Campbell Newman has a lot more work to do if this scheme is going to be safe and successful.” Cr Sutton said.
Above: This bike station besie the Fortitude Valley Post Office is one of a number of Stage One CityCycle spots that are yet to come on line.
Agi scoops phorgraphic pool
Agi Davis of Toowong has taken home $10,000 in prizemoney for this work, Freedom of our Children at Galleries of Brisbane, which has won the open category in the 2010 Lord Mayor’s Photographic Awards.
The work was inspired by Brisbane’s vibrant cultural landscape and the welcoming atmosphere of the city’s galleries and art museums.
Lord Mayor Cr Newman said the entrants this year captured some clever depictions of Brisbane’s unique culture, community and lifestyle.
The youth category (for photographers 30 years and under) was won by 16-year-old Maddison O’Brien from Kelvin Grove for her work, Brisbane Delight, which expressed her feelings about the city.
Maddison won $2500 along with professional development opportunities for her photographic skills. The two winning entries along with the works of other finalists, in now on display in King George Square, hanging in ‘The Verandah’ area until October 31.
“I urge all Brisbane residents to come down, show their support and have a look at how talented our emerging photographers are,” Cr Newman said.
Homeless need helping hand
NEWS
The City Council wants the community to help it reach out to the city’s homeless through next month’s Homeless Connect event at the RNA Showgrounds from 9am to 2pm on November 3, with breakfast from 8am.
Homeless Connect has aided 5000 since its inception in 2006 and aims to ease the uncertainties and isolation suffered by disadvantaged groups in Brisbane. People can enjoy a meal, access medical and optical care, accommodation referral advice, haircuts and clothing.
Lord Mayor Campbell Newman said council was proud to present the important community event and urged the wider community to help where possible. “Donations of clothing, shoes, blankets, towels, toiletries and canned goods can be made at any St Vincent de Paul store, or your local councillor’s ward office,” he said.
“While these goods may not seem like much to us, they will mean the world to those in need.” Cr Newman said it was pleasing to see Brisbane business, community groups and residents unite in support of the Homeless Connect event in May.
“I invite anyone in Brisbane who is experiencing homelessness or is at risk of becoming homeless to come along on the day to access services and support,” he said.
Free bus services will commence at 7.30am on the northside on November 3, stopping at New Farm Neighbourhood Centre, Footprints, 139 Club, Pindari Hostel and Roma House. On the southside the free service will stop at West End Community House, Brisbane Homeless Service Centre, OzCare and Bowman Johnson Hostel.
Council is partnering with Volunteering Queensland and St Vincent de Paul to deliver the event, with support from the Queensland Government’s Department of Communities and Drug-Arm Australasia.
To volunteer, contact Volunteering Queensland at www.volunteeringqld.org.au.
• For further information about Homeless Connect, visit www.brisbane.qld.qov.au or phone council on 3403 8888.
The City Council wants the community to help it reach out to the city’s homeless through next month’s Homeless Connect event at the RNA Showgrounds from 9am to 2pm on November 3, with breakfast from 8am.
Homeless Connect has aided 5000 since its inception in 2006 and aims to ease the uncertainties and isolation suffered by disadvantaged groups in Brisbane. People can enjoy a meal, access medical and optical care, accommodation referral advice, haircuts and clothing.
Lord Mayor Campbell Newman said council was proud to present the important community event and urged the wider community to help where possible. “Donations of clothing, shoes, blankets, towels, toiletries and canned goods can be made at any St Vincent de Paul store, or your local councillor’s ward office,” he said.
“While these goods may not seem like much to us, they will mean the world to those in need.” Cr Newman said it was pleasing to see Brisbane business, community groups and residents unite in support of the Homeless Connect event in May.
“I invite anyone in Brisbane who is experiencing homelessness or is at risk of becoming homeless to come along on the day to access services and support,” he said.
Free bus services will commence at 7.30am on the northside on November 3, stopping at New Farm Neighbourhood Centre, Footprints, 139 Club, Pindari Hostel and Roma House. On the southside the free service will stop at West End Community House, Brisbane Homeless Service Centre, OzCare and Bowman Johnson Hostel.
Council is partnering with Volunteering Queensland and St Vincent de Paul to deliver the event, with support from the Queensland Government’s Department of Communities and Drug-Arm Australasia.
To volunteer, contact Volunteering Queensland at www.volunteeringqld.org.au.
• For further information about Homeless Connect, visit www.brisbane.qld.qov.au or phone council on 3403 8888.
Help Nicole fulfil Athens dream
NEWS
Brisbane lass Nicole Groth has already tasted double gold as a special athlete, and now she needs our help to achieve her dream of representing Australia at the Special Olympics in Athens next year.
Grace Grace, MP State member for Brisbane Central, is calling on government and local businesses to support Nicole achieve her dream.
“Nicole showed what she is capable of by winning two gold and two silver medals in the athletic events at the national games in April,” Ms Grace said.
Nicole was among the dozens of athletes from south-east Queensland who travelled to Adelaide for the Special Olympics IX National Games in April this year. The National Games featured 850 athletes from all states and territories vying for gold in 12 sports.
“We are very proud that Nicole was among the Queenslanders selected to represent Australia in Athens next year,” Ms Grace said.
“To guarantee her position at the games, Nicole needs to raise $7000 and I am calling on individuals and businesses in our community to get behind Nicole and the other athletes and make a donation and help make their Athen’s dream a reality.”
Ms Grace has also added her voice to the other members of Parliament who have called on Sport Minister Phil Reeves to consider State Government funding to help all Queensland athletes selected to represent Australia at next year’s Special Olympics Summer Games.
“Queenslanders selected to compete at the Olympics, Paralympics or Commonwealth Games currently receive a grant from the Bligh Government, but those selected for the Special Olympics do not,” Ms Grace said. The minister had undertaken to look urgently into the funding arrangements.
“To make a donation, you can go to my website at www.gracegracemp.com and follow the “Special Olympics” link, email me at brisbane.central@parliament.qld.gov.au or by post at unit 2, Hill House, 541 Boundary Street, Spring Hill, Q, 4000. Cheques should be made out to “Special Olympics Australia” and donations of $2 or over are tax deductible.
“It is important that we encourage our young athletes to excel and support them when they do,” Ms Grace said.
“The Bligh Government is committed to making Queenslanders Australia’s healthiest people by 2020 and Nicole is setting a great example for other young people with a disability. “Nicole’s success demonstrates that there are no barriers when it comes to sport and we are very lucky to have such a talented sportswomen in our midst.”
Grace Grace helps Nicole Groth show off her golden haul.
Brisbane lass Nicole Groth has already tasted double gold as a special athlete, and now she needs our help to achieve her dream of representing Australia at the Special Olympics in Athens next year.
Grace Grace, MP State member for Brisbane Central, is calling on government and local businesses to support Nicole achieve her dream.
“Nicole showed what she is capable of by winning two gold and two silver medals in the athletic events at the national games in April,” Ms Grace said.
Nicole was among the dozens of athletes from south-east Queensland who travelled to Adelaide for the Special Olympics IX National Games in April this year. The National Games featured 850 athletes from all states and territories vying for gold in 12 sports.
“We are very proud that Nicole was among the Queenslanders selected to represent Australia in Athens next year,” Ms Grace said.
“To guarantee her position at the games, Nicole needs to raise $7000 and I am calling on individuals and businesses in our community to get behind Nicole and the other athletes and make a donation and help make their Athen’s dream a reality.”
Ms Grace has also added her voice to the other members of Parliament who have called on Sport Minister Phil Reeves to consider State Government funding to help all Queensland athletes selected to represent Australia at next year’s Special Olympics Summer Games.
“Queenslanders selected to compete at the Olympics, Paralympics or Commonwealth Games currently receive a grant from the Bligh Government, but those selected for the Special Olympics do not,” Ms Grace said. The minister had undertaken to look urgently into the funding arrangements.
“To make a donation, you can go to my website at www.gracegracemp.com and follow the “Special Olympics” link, email me at brisbane.central@parliament.qld.gov.au or by post at unit 2, Hill House, 541 Boundary Street, Spring Hill, Q, 4000. Cheques should be made out to “Special Olympics Australia” and donations of $2 or over are tax deductible.
“It is important that we encourage our young athletes to excel and support them when they do,” Ms Grace said.
“The Bligh Government is committed to making Queenslanders Australia’s healthiest people by 2020 and Nicole is setting a great example for other young people with a disability. “Nicole’s success demonstrates that there are no barriers when it comes to sport and we are very lucky to have such a talented sportswomen in our midst.”
Grace Grace helps Nicole Groth show off her golden haul.
It’s time to go batty once again
One of Brisbane’s most inspiring natural events – the great flying-fox flyout on the Brisbane River – is on show again with the return of the Batty Boat Cruise Summer Season for 2010-2011.
Wildlife Queensland’s Brisbane Branch is taking bookings for the 2010-2011 season of Batty Boat Cruises, Brisbane’s own perennial wildlife treat. As the sun sets, a spectacular sight awaits passengers on board our motor cruiser as thousands of flying-foxes (aka fruit bats) take to the skies above the gleaming river from Indooroopilly Island.
Cruises run for nearly four hours and are a popular family outing. The Batty Boat for 2010-2011 is the M V Neptune and with bat enthusiasts such as Tim Low (prize-winning wildlife author and naturalist) or Greg Miller (well-known wildlife expert) giving a commentary on the river’s sights and the flying-foxes, the cruise is a natural history adventure.
And all proceeds go to Queensland flying-fox welfare and research.
Batty Boat Cruise Sundays for this summer are on Sundays, 24 October, 21 November and 5 December. Ticket prices are $30 for adults, $22 for concession, $15 for a child (3-15 years) and $80 for a family of two adults and two children).
Gift certificates are available. Book and pay online at www.wildlife.org.au or email inquiries to batty@wildlife.org.au or book and pay over the phone on 3221 0194.
Rough diamonds still out there
PROPERTY News
It’s a well-known property investment philosophy – buy the worst house in the best possible street. And across Queensland plenty of rough diamonds still remain to choose from, but buyers need to be realistic and be able to afford to invest the time, and the money, usually required to restore the sparkle to these hidden gems.
The Real Estate Institute of Queensland (REIQ) has researched the top house sales across the state over the past financial year to discover the suburbs where bargain buys among prestige property can still be found.
“While median house prices are a general indication of overall property prices in a suburb, the types of properties that are available for sale at both ends of the market can often go by unnoticed,” REIQ managing director Dan Molloy said.
“And in prestige suburbs where the median is well above what many people can afford, bargain buys can still to be found, if you have your finger on the pulse.
“But, buyers need to be realistic, getting your foot in the door via the bottom end of the price range usually comes with some sacrifices on space and actual location within the suburb or some serious work required on the property itself.”
In Brisbane, top sales over the last financial year were recorded in the city’s well-known prestige suburb of Hamilton as well as in Hawthorne and Yeronga. Each of these suburbs recorded top sales in excess of $6 million – with the top sale recorded in Hamilton for $8.72 million in Hillside Crescent. At the other end of the scale, a buyer in Hamilton picked up a home for $530,000; in Hawthorne one sold for $495,000; and one buyer bought a property in Yeronga for $390,000.
While the top sales all had large blocks with river frontage, the bargain buys were still three-bedroom houses, albeit on smaller sized blocks and located on busier roads. Redland City took out the top three sales for Brisbane surrounds – with sales over $2.3 million in Cleveland, Ormiston and Wellington Point – but all three suburbs also recorded bargain buys priced under $400,000.
A dream buy was achieved in Ormiston where a renovated three-bedroom cottage sold for $375,000, with the only downside to this property being the boundary aligning with a few extra neighbours.
Moreton Bay Regional’s top sale was $2.2 million recorded in Banksia Beach, where one fortunate buyer paid just $247,000 for a house in Alpinia Avenue.
In Logan City, Shailer Park topped the list with a house selling for $893,000 in Ronald Avenue. The most affordable price paid in Shailer Park was a home for $307,000 in Teak Street.
While Sadliers Crossing, in Ipswich City, recorded a top sale of $1.1 million for a historic home in Burnett St, the most affordable house sold for $196,000 – a two-bedroom house close to the rail line.
It’s a well-known property investment philosophy – buy the worst house in the best possible street. And across Queensland plenty of rough diamonds still remain to choose from, but buyers need to be realistic and be able to afford to invest the time, and the money, usually required to restore the sparkle to these hidden gems.
The Real Estate Institute of Queensland (REIQ) has researched the top house sales across the state over the past financial year to discover the suburbs where bargain buys among prestige property can still be found.
“While median house prices are a general indication of overall property prices in a suburb, the types of properties that are available for sale at both ends of the market can often go by unnoticed,” REIQ managing director Dan Molloy said.
“And in prestige suburbs where the median is well above what many people can afford, bargain buys can still to be found, if you have your finger on the pulse.
“But, buyers need to be realistic, getting your foot in the door via the bottom end of the price range usually comes with some sacrifices on space and actual location within the suburb or some serious work required on the property itself.”
In Brisbane, top sales over the last financial year were recorded in the city’s well-known prestige suburb of Hamilton as well as in Hawthorne and Yeronga. Each of these suburbs recorded top sales in excess of $6 million – with the top sale recorded in Hamilton for $8.72 million in Hillside Crescent. At the other end of the scale, a buyer in Hamilton picked up a home for $530,000; in Hawthorne one sold for $495,000; and one buyer bought a property in Yeronga for $390,000.
While the top sales all had large blocks with river frontage, the bargain buys were still three-bedroom houses, albeit on smaller sized blocks and located on busier roads. Redland City took out the top three sales for Brisbane surrounds – with sales over $2.3 million in Cleveland, Ormiston and Wellington Point – but all three suburbs also recorded bargain buys priced under $400,000.
A dream buy was achieved in Ormiston where a renovated three-bedroom cottage sold for $375,000, with the only downside to this property being the boundary aligning with a few extra neighbours.
Moreton Bay Regional’s top sale was $2.2 million recorded in Banksia Beach, where one fortunate buyer paid just $247,000 for a house in Alpinia Avenue.
In Logan City, Shailer Park topped the list with a house selling for $893,000 in Ronald Avenue. The most affordable price paid in Shailer Park was a home for $307,000 in Teak Street.
While Sadliers Crossing, in Ipswich City, recorded a top sale of $1.1 million for a historic home in Burnett St, the most affordable house sold for $196,000 – a two-bedroom house close to the rail line.
House guests from hell
PROPERTY Residential
Damp conditions from all the recent rains are boosting termite activity, and some homeowners could be literally being eaten out of house and home by these silent and hungry pests, Archicentre, the building advisory service of the Australian Institute of Architects, warns.
he termites leave Australian home owners with an estimated bill of $1 billion a year. And Archicentre says the drought and floods, resulting in unusually wet and warm weather, are likely to cause a significant increase in damage to houses by termites and timber rot.
Widespread flooding and heavy rains have left many homes, especially those with poor drainage and poor ventilation in the sub-floor area, damp and vulnerable.
Ian Agnew, Archicentre’s Queensland state manager said: “Pre-purchase home inspection statistics compiled by Archicentre have found that 35 per cent of all homes sold have some form of borer, termite, dry rot, or timber fungus problem.
“Borers can be a silent destroyer with the first indication of a problem being when the vacuum cleaner head hits the skirting board which turns into dust.
“Termites and timber rot, which is actually a fungus, both flourish in warm moist conditions.
“Home buyers should be particularly wary of termite problems and timber rot to structural elements and windows. Any property purchases should be subject to an independent inspection as termites do not distinguish between the type or value of homes.”
Mr Agnew said that Archicentre’s pest inspectors had seen homes with up to $100,000 in damage that would not be evident without a comprehensive inspection.
“It is critical that home buyers and home owners seek independent professional advice.”
Mr Agnew said that home owners should take action to dry out sub-floors by increasing ventilation, removing debris and generally allowing more air to circulate.
“Termite activity slows down in the winter, but new nests may be being established now which will lead to problems during late spring and summer.
“Inspect timber framing and floors generally for rot, mould and evidence of borers. Borer attack in some species of pine may be due to Anobiid borers. These will eventually destroy the timber and should be treated immediately.
“Check to see that the earth is not excessively wet. Dampness problems accompanied by inadequate ventilation encourage rot, borer and termite attack. Look carefully for termite 'shelter tubes'.
“Termites build mud shelter tubes, between 5mm and 50mm up stumps or piers and brick walls to connect their nests in the ground to the timber on which they are feeding. If you are in any way unsure about borers or termites, the house should be checked by an independent expert.
“Home owners with concrete floor slabs should now be looking for early signs of termite attack such as mud tubes on the edges of concrete slabs and damaged skirtings and architraves.”
Regional handout not working, says LNP
PROPERTY Residential
The State Government’s $4000 offer to regional first-home owners has been labelled “paltry” and has failed to attract people to settle outside Queensland’s congested southeast, according to the LNP Opposition.
LNP Shadow Minister for Community Services and Housing Rosemary Menkens said the low take-up rate on the $4000 Regional First Home Owner grant proved the long-term Bligh and Labor government put tokenism ahead of real solutions.
“Convincing people to move to regional Queensland requires more than a meagre handout to assist them buy a home,” Mrs Menkens said.
“Yet again this lazy, long-term Bligh and Labor government has engaged in tokenism rather than attempting to find out the real issues confronting regional Queensland.
“Instead of consulting with people in regional communities, Anna Bligh prefers to work as a checkout chick in Brisbane or carry out the charade of running her government from Townsville.”
Mrs Menkens said the long-term Bligh and Labor government had so starved regional Queensland of funds and essential services, many people were driven to consider leaving rather than attracting others to settle there.
“This long-term Bligh government has an appalling record in providing services throughout the state, but the situation in regional Queensland is particularly acute,” she said.
“As I travel about regional Queensland, people constantly complain about the lack of essential services required to sustain and grow their communities.
“When regional communities lack adequate access to schools, hospitals, police and other essential services, a paltry $4000 first-home owner grant is unlikely to be sufficient incentive to convince people to move from an area where they have access to such services to one where they don’t.”
The State Government’s $4000 offer to regional first-home owners has been labelled “paltry” and has failed to attract people to settle outside Queensland’s congested southeast, according to the LNP Opposition.
LNP Shadow Minister for Community Services and Housing Rosemary Menkens said the low take-up rate on the $4000 Regional First Home Owner grant proved the long-term Bligh and Labor government put tokenism ahead of real solutions.
“Convincing people to move to regional Queensland requires more than a meagre handout to assist them buy a home,” Mrs Menkens said.
“Yet again this lazy, long-term Bligh and Labor government has engaged in tokenism rather than attempting to find out the real issues confronting regional Queensland.
“Instead of consulting with people in regional communities, Anna Bligh prefers to work as a checkout chick in Brisbane or carry out the charade of running her government from Townsville.”
Mrs Menkens said the long-term Bligh and Labor government had so starved regional Queensland of funds and essential services, many people were driven to consider leaving rather than attracting others to settle there.
“This long-term Bligh government has an appalling record in providing services throughout the state, but the situation in regional Queensland is particularly acute,” she said.
“As I travel about regional Queensland, people constantly complain about the lack of essential services required to sustain and grow their communities.
“When regional communities lack adequate access to schools, hospitals, police and other essential services, a paltry $4000 first-home owner grant is unlikely to be sufficient incentive to convince people to move from an area where they have access to such services to one where they don’t.”
No end in sight for building plight
PROPERTY News
The latest lending figures bring more bad news for the plight of housing in Queensland, says Master Builders, Queensland’s peak body for housing and construction.
Finance commitments for houses in Queensland (seasonally adjusted) fell by 1.2 per cent from 9171 in July to 9063 in August. Nationally there was a 1 per cent increase. Master Builder director of housing policy Paul Bidwell said the drop in demand was right across the board, including the construction and purchase of new dwellings as well as the purchase of established dwellings. The proportion of first-home buyers also fell again in August, and is now at just 13.7 per cent compared with the long-term average of around 20 per cent/
“Lending figures are an important indicator for the sector. We had hoped that the slide in finance commitments had bottomed in June/July and that things would improve as the year draws to a close, but despite all the wishing in the world this is more bad news for the housing construction sector,” he said.
“The figures clearly demonstrate that the Reserve Bank of Australia (RBA) made the right decision on interest rates last week. “Construction is a major contributor to Australia’s economy. It is responsible for more full time jobs than any other sector in Queensland.
“We have seen how six ‘quick fire’ rate rises from October 2009 to May 2010 dampened demand in the construction industry. Currently mortgage rates are close to the long-term average and all of the talk about further hikes is spooking home buyers.
“The RBA should not be looking to lift the cash rate until we see strong signs of improvement in the housing construction sector.”
The weak state of the industry is highlighted in the results of the latest Master Builders survey of industry conditions, which will be released in a report later this month. The report shows that the residential sector fell further in the September quarter with over half of the businesses surveyed reporting softer trading conditions, with turnover and profitability both down.
“Conditions in Queensland’s residential and commercial sectors are still well below satisfactory levels and are forecast to remain weak in the short-term,” Mr Bidwell said.
The latest lending figures bring more bad news for the plight of housing in Queensland, says Master Builders, Queensland’s peak body for housing and construction.
Finance commitments for houses in Queensland (seasonally adjusted) fell by 1.2 per cent from 9171 in July to 9063 in August. Nationally there was a 1 per cent increase. Master Builder director of housing policy Paul Bidwell said the drop in demand was right across the board, including the construction and purchase of new dwellings as well as the purchase of established dwellings. The proportion of first-home buyers also fell again in August, and is now at just 13.7 per cent compared with the long-term average of around 20 per cent/
“Lending figures are an important indicator for the sector. We had hoped that the slide in finance commitments had bottomed in June/July and that things would improve as the year draws to a close, but despite all the wishing in the world this is more bad news for the housing construction sector,” he said.
“The figures clearly demonstrate that the Reserve Bank of Australia (RBA) made the right decision on interest rates last week. “Construction is a major contributor to Australia’s economy. It is responsible for more full time jobs than any other sector in Queensland.
“We have seen how six ‘quick fire’ rate rises from October 2009 to May 2010 dampened demand in the construction industry. Currently mortgage rates are close to the long-term average and all of the talk about further hikes is spooking home buyers.
“The RBA should not be looking to lift the cash rate until we see strong signs of improvement in the housing construction sector.”
The weak state of the industry is highlighted in the results of the latest Master Builders survey of industry conditions, which will be released in a report later this month. The report shows that the residential sector fell further in the September quarter with over half of the businesses surveyed reporting softer trading conditions, with turnover and profitability both down.
“Conditions in Queensland’s residential and commercial sectors are still well below satisfactory levels and are forecast to remain weak in the short-term,” Mr Bidwell said.
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