Latest news with #AntoniaMercorella
News.com.au
07-08-2025
- Business
- News.com.au
Brisbane's record property boom set to hit the brakes: KPMG
New forecasts from KPMG predict a sharp dive in Brisbane house and unit price growth as soon as Christmas, with the cooling to be even more dramatic into 2026. Unit prices – Brisbane's biggest growth driver – are forecast to tank from 7.1 per cent growth in December this year to a mere 1.5 per cent by the end of 2026, making it the slowest property market among all Australian capitals. Kochie's blunt warning: RBA must slash rates harder KPMG's latest six-monthly Residential Property Outlook expects house prices won't fare much better, slowing to just 4.1 per cent growth by Christmas and sinking further to 3.1 per cent by December 2026. KPMG chief economist Dr Brendan Rynne warned Brisbane was now close to peak. 'After a period of rapid price growth, the housing market is only set to grow by 3.1 per cent and units by just 1.5 per cent, with prices now outpacing demand and supply,' he said. 'Brisbane's property market is close to reaching its peak for now and the city is no longer seen as an affordable alternative, meaning only modest growth is expected in the year ahead.' PropTrack data shows in the past decade, house prices have grown by 117 per cent while units have jumped in median by 93 per cent. In July, unit prices were up 13 per cent year-on-year with house prices increasing 7.77 per cent in the same time frame. Peak body Real Estate Institute of Queensland chief executive Antonia Mercorella said 'while forecasting Brisbane's property price growth is crystal ball gazing, it's not surprising to see predictions of a moderating growth rate, simply because it would be hard to sustain the steep growth trajectory our city has experienced in recent years'. 'For many years our city was overlooked, but now we've turned a corner and have been playing catch up at a rapid rate. At some point, our rate of growth will have outpaced the market as we all face economic and affordability pressures.' But Ms Mercorella is not prepared to call the end yet. 'Brisbane's property fundamentals are still strong and our capital city has a bright future ahead with the Olympics on the horizon, so it's hard to see how property prices wouldn't continue to move in a northerly direction,' she said. Shock as lenders slash rates to lowest level in 2 years The KPMG report said 'Brisbane's housing market, previously buoyed by the prospect of the 2032 Olympics, is now at an inflection point'. 'Prices have outpaced demand and supply, and the city is no longer a clearly affordable alternative to Sydney. As a result, we expect modest growth in the year ahead.' This is in sharp contract to the national outlook, with Dr Rynne upping the Australian housing growth forecast from 3.3 per cent to 4.9 per cent for 2025. 'You can really feel a renewed confidence in the market over the last few months in particular, with the quarterly growth rate hitting the highest level since this time last year,' Dr Rynne said of the national situation.
7NEWS
01-08-2025
- Business
- 7NEWS
New Queensland property law sparks market jitters and creates niche disclosure services industry
The Queensland real estate market faces some of the biggest changes to property law in a generation. New requirements are shifting the burden firmly from buyers onto sellers, under the Seller Disclosure Scheme, to reveal detailed information before any contract is signed. This has sparked both confusion and opportunity across the industry. WATCH THE VIDEO ABOVE: New seller disclosure laws From August 1, every seller must provide detailed disclosures before a contract is signed Sellers who aren't fully across the new laws could find themselves unable to list the properties. 'It is now a legal obligation,' REIQ chief executive Antonia Mercorella told 7NEWS. 'Sellers must disclose everything from structural defects to flooding, easements and contamination or risk major legal consequences.' The changes, aimed at improving transparency and empower buyers, represent one of the biggest legal shifts the Queensland property market has seen in decades. However, real estate agents warn the rollout has been rushed. 'We've had sellers and agents scrambling this week to get deals done before today,' said David Holmes from Homes and Co Auctions. 'We're expecting low clearance rates and confusion at open homes this weekend.' This weekend, Brisbane has 269 properties scheduled for auction, showing a 22 per cent decrease from last week's 344, according to What must sellers now disclose? Under the new rules, vendors must provide a completed Form 1 covering land title, planning notices, defects, and any adverse matters affecting the property. For units, the requirements go further. Strata sellers must also supply Form 2 and Form 33, including: Body corporate certificates Insurance details Sinking fund forecasts Bylaws and levies 'There's no flexibility anymore,' said CEO of Archers the Strata Professionals, Nicky Lonergan. 'Without those forms, you can't enter a contract.' But with the official forms only made publicly available on Friday morning, many sellers are already on the back foot. 'Weeks to catch up' The REIQ has warned the new regime could choke supply and disrupt auctions, particularly in the already sluggish unit market. 'We're concerned about sellers who aren't prepared, and buyers who'll face delays,' Mercorella said. 'This has come in fast and there are still gaps in education across the industry.' Agents said the changes are well-intentioned, but poor timing and lack of lead-in support are a recipe for short-term pain. 'It's going to take weeks for the market to catch up,' Holmes said. 'Until then, sellers will wear the cost in advertising, legal prep and lost momentum.' New law, new business The legislation has also given rise to a niche industry: businesses now offering to manage disclosure paperwork on behalf of sellers, for a fee. 'We've been really busy. There's been a lot of work to get this new platform ready,' said FormCheck chief executive and co-founder Druen Dorn. 'This takes something that is otherwise quite complex and it makes it really simple for them.' FormCheck charges $799 per property and promises a 24-to-48-hour turnaround for standalone homes and individual land, using a digital platform to streamline the process. 'Most of it is automated. We have plug-ins ... that allow us to order all the searches we need very quickly.' Still, depending on the property, some packages may take longer, 'up to five days because you are relying on multiple searches and multiple pieces of information back'.
Courier-Mail
31-07-2025
- Business
- Courier-Mail
Nowhere to go: Qld's tightest rental markets revealed
Queensland's rental market remains tight but stable, with 34 of the state's 50 regions recording vacancy rates at or below one per cent. But the Real Estate Institute of Queensland's (REIQ) June Quarter 2025 Residential Vacancy Rate Report revealed that while conditions remained tight, they were stable over the past three months. The statewide vacancy rate rose slightly, rising from 0.9 per cent to 1 per cent. Vacancy rates fell in just four regions – Rockhampton (0.7%), Townsville (0.9%), Cassowary Coast (1%)and Maranoa (0.3%) – declining by -0.1 percentage points. They remained unchanged in 15 regions – Brisbane LGA (1.0%), Inner Brisbane (1.2%), Middle Brisbane (1.0%), Outer Brisbane (0.8%), Ipswich (0.8%), Logan (0.8%), Pine Rivers (0.6%), Cairns (0.8%), Mackay (0.8%), Toowoomba (0.5%), Banana (0.5%), Burdekin (0.5%), Cook (0.0%), Mareeba (0.5%), and Whitsunday (1.1%). Greater Brisbane's rate was 0.9%, with parts of the southeast corner showing only slight relief, including Moreton Bay (0.8%), Caboolture (1.0%), Redcliffe (0.7%) and Redland (0.9%), along with the Sunshine Coast (1.0%) and Maroochy Coast (1.3%). REIQ CEO Antonia Mercorella said the June quarter results showed Queensland's rental market was holding relatively steady but remained severely undersupplied. 'This continued rental squeeze, while not worsening, is continuing to make a strong case for more investors and more rental accommodation to meet demand,' Mercorella said. 'We're seeing quarter after quarter of sliver-thin vacancy rate data, showing most of the state could support and sustain greater investment and new dwelling construction. 'There are some positive signs regarding investor interest in Queensland property, which is likely focused in areas where yields remain attractive, and sentiment is stabilising.' The latest ABS lending indicator data shows that Queensland registered the highest annual growth (24% in the year to March 2025) in new loans to investors for properties within the state) among all the states. Mercorella said jobs and vacancy rates went hand in hand, as did the social and economic fallout when these were both in short supply. 'Our regions rely on being able to attract and retain workers and a big part of this is being able to secure suitable accommodation nearby,' she said. 'The low rate of vacancies and therefore stifled job mobility is especially problematic, given concerns that unemployment may be starting to rise.' The seasonally adjusted national unemployment rate rose from 4.1 per cent to 4.3 per cent in June, and the Queensland unemployment rate rose from 3.7 per cent to 4.1 per cent. Mercorella said that alongside fast-tracking the delivery of new housing, we need to rethink the type of homes being built to meet our needs, and these can be regionally specific. 'We must ensure housing diversity reflects modern living arrangements – from smaller dwellings, smaller lot sizes and build-to-rent, to accessible and adaptable housing for an ageing population and even options for multi-generational living,' she said. The vacancy report revealed that the vast majority of regions (48 out of 50) wre sitting in what the REIQ classifies as a 'tight' rental market (up until 2.5%), with some having almost no available stock. Cook LGA had the tightest market with rental stock sitting at 0 per cent, with no rentals listed in Cooktown at all, followed by Goondiwindi (0.2%). They were followed closely by Charters Towers and Maranoa (both 0.3%), and a further four regions including Toowoomba, Banana, Burdekin, and Mareeba which all recorded just 0.5 per cent. At the other end of the scale, two regions entered the 'weak' category – defined as vacancy rates above 3.6 per cent – Isaac (4.2%) and Bay Islands (3.7%) which include North Stradbroke, Russell, Macleay, Karragarra, Lamb, and Coochiemudlo Islands. Australia's housing shortfall: What's gone wrong? No-go zones: Worst suburbs for investors revealed Alice Cooper's in the living room: Hilarious Aussie listings revealed Noosa came closest to re-entering the healthy range at 2.4 per cent, however this may be because of the price point of the rental properties on offer, meaning that they stay listed for longer. The biggest increase in vacancies over the quarter were in Bay Islands, up 1.2 per cent, Isaac (+1%), Maryborough (+0.5%), and 0.4 per cent in Southern Downs, Gympie, Central Highlands, Fraser Coast and Noosa. A rental market is considered 'healthy' if it has a vacancy rate between 2.6 and 3.5 per cent. Ms Mercorella said that while quarterly shifts in some regions were encouraging, this should not be mistaken for a turnaround. 'We know that the data doesn't tell the whole story, as some renters are consolidating households, delaying moves, or even leaving town due to affordability challenges – these behavioural shifts can have a subtle but real effect on vacancy levels,' she said. 'The June quarter captures a period of natural tenant turnover – the end of financial year, cooler weather in some parts of the state, and school semester transitions can all prompt moves, opening up some properties that may have otherwise remained tenanted. 'Without a meaningful lift in new housing supply, we expect vacancy rates will hover around these tight levels for some time to come.'
News.com.au
31-07-2025
- Business
- News.com.au
Nowhere to go: Qld's tightest rental markets revealed
Queensland's rental market remains tight but stable, with 34 of the state's 50 regions recording vacancy rates at or below one per cent. But the Real Estate Institute of Queensland's (REIQ) June Quarter 2025 Residential Vacancy Rate Report revealed that while conditions remained tight, they were stable over the past three months. The statewide vacancy rate rose slightly, rising from 0.9 per cent to 1 per cent. Vacancy rates fell in just four regions - Rockhampton (0.7%), Townsville (0.9%), Cassowary Coast (1%)and Maranoa (0.3%) - declining by -0.1 percentage points. They remained unchanged in 15 regions - Brisbane LGA (1.0%), Inner Brisbane (1.2%), Middle Brisbane (1.0%), Outer Brisbane (0.8%), Ipswich (0.8%), Logan (0.8%), Pine Rivers (0.6%), Cairns (0.8%), Mackay (0.8%), Toowoomba (0.5%), Banana (0.5%), Burdekin (0.5%), Cook (0.0%), Mareeba (0.5%), and Whitsunday (1.1%). Greater Brisbane's rate was 0.9%, with parts of the southeast corner showing only slight relief, including Moreton Bay (0.8%), Caboolture (1.0%), Redcliffe (0.7%) and Redland (0.9%), along with the Sunshine Coast (1.0%) and Maroochy Coast (1.3%). REIQ CEO Antonia Mercorella said the June quarter results showed Queensland's rental market was holding relatively steady but remained severely undersupplied. 'This continued rental squeeze, while not worsening, is continuing to make a strong case for more investors and more rental accommodation to meet demand,' Mercorella said. 'We're seeing quarter after quarter of sliver-thin vacancy rate data, showing most of the state could support and sustain greater investment and new dwelling construction. 'There are some positive signs regarding investor interest in Queensland property, which is likely focused in areas where yields remain attractive, and sentiment is stabilising.' The latest ABS lending indicator data shows that Queensland registered the highest annual growth (24% in the year to March 2025) in new loans to investors for properties within the state) among all the states. Mercorella said jobs and vacancy rates went hand in hand, as did the social and economic fallout when these were both in short supply. 'Our regions rely on being able to attract and retain workers and a big part of this is being able to secure suitable accommodation nearby,' she said. 'The low rate of vacancies and therefore stifled job mobility is especially problematic, given concerns that unemployment may be starting to rise.' The seasonally adjusted national unemployment rate rose from 4.1 per cent to 4.3 per cent in June, and the Queensland unemployment rate rose from 3.7 per cent to 4.1 per cent. Mercorella said that alongside fast-tracking the delivery of new housing, we need to rethink the type of homes being built to meet our needs, and these can be regionally specific. 'We must ensure housing diversity reflects modern living arrangements - from smaller dwellings, smaller lot sizes and build-to-rent, to accessible and adaptable housing for an ageing population and even options for multi-generational living,' she said. The vacancy report revealed that the vast majority of regions (48 out of 50) wre sitting in what the REIQ classifies as a 'tight' rental market (up until 2.5%), with some having almost no available stock. Cook LGA had the tightest market with rental stock sitting at 0 per cent, with no rentals listed in Cooktown at all, followed by Goondiwindi (0.2%). They were followed closely by Charters Towers and Maranoa (both 0.3%), and a further four regions including Toowoomba, Banana, Burdekin, and Mareeba which all recorded just 0.5 per cent. At the other end of the scale, two regions entered the 'weak' category – defined as vacancy rates above 3.6 per cent - Isaac (4.2%) and Bay Islands (3.7%) which include North Stradbroke, Russell, Macleay, Karragarra, Lamb, and Coochiemudlo Islands. Noosa came closest to re-entering the healthy range at 2.4 per cent, however this may be because of the price point of the rental properties on offer, meaning that they stay listed for longer. The biggest increase in vacancies over the quarter were in Bay Islands, up 1.2 per cent, Isaac (+1%), Maryborough (+0.5%), and 0.4 per cent in Southern Downs, Gympie, Central Highlands, Fraser Coast and Noosa. A rental market is considered 'healthy' if it has a vacancy rate between 2.6 and 3.5 per cent. Ms Mercorella said that while quarterly shifts in some regions were encouraging, this should not be mistaken for a turnaround. 'We know that the data doesn't tell the whole story, as some renters are consolidating households, delaying moves, or even leaving town due to affordability challenges - these behavioural shifts can have a subtle but real effect on vacancy levels,' she said. 'The June quarter captures a period of natural tenant turnover - the end of financial year, cooler weather in some parts of the state, and school semester transitions can all prompt moves, opening up some properties that may have otherwise remained tenanted. 'Without a meaningful lift in new housing supply, we expect vacancy rates will hover around these tight levels for some time to come.'
The Age
30-07-2025
- Business
- The Age
Brisbane news live: Queensland's ‘rental squeeze' continues
Latest posts Latest posts 7.15am Queensland's 'rental squeeze' continues: REIQ To start off our Thursday, let's take a look at the latest rental figures from the Real Estate Institute of Queensland (REIQ). New data from the June Quarter 2025 Residential Vacancy Rate Report has shown the state's rental market remains tight, but stable, with vacancies remaining at or below 1 per cent in the majority of regions. 'This continued rental squeeze, while not worsening, is continuing to make a strong case for more investors and more rental accommodation to meet demand,' REIQ chief executive Antonia Mercorella said. Here are some quick-fire stats from this report: Qld's vacancy rate sits at 1 per cent Noosa has some of the highest vacancy rates at 2.4 per cent North Queensland towns, Rockhampton and Townsville, had minor falls of -0.1 per cent 7.13am While you were sleeping Here's what's making news further afield this morning: Fears of a devastating tsunami faded late yesterday for the US and Japan, after one of the strongest earthquakes ever recorded struck off a sparsely populated Russian peninsula, but new alerts along South America's Pacific coast forced evacuations and closed beaches. Legendary rocker Ozzy Osbourne was farewelled in his native Birmingham overnight. The cortège of the Prince of Darkness was driven through his home city in central England before a private funeral, stopping at a bench dedicated to the band on the Broad Street canal bridge, along the city's major thoroughfare. Prosecutors are moving to take control of the home where Erin Patterson poisoned her lunch guests with death cap-laced beef Wellingtons so it can be sold to compensate her victims' families. Google has cancelled a parliamentary concert featuring rock band The Rubens after federal Labor announced YouTube, which the tech giant owns, would be added to Australia's social media ban for under 16s. In other tech news, billionaire Scott Farquhar has defended widespread adoption of AI after the tech giant he co-founded slashed 150 jobs in roles exposed to the new technology. A Sydney plumber facing the death penalty for his alleged role in the execution-style murder of Melbourne man Zivan 'Stipe' Radmanovic inside a luxury Balinese villa last month claims he was 'just helping a friend'. The Australian Tax Office is set to review a decade-old decision to write off penalties and interest related to a tax dispute with an investment company owned by former prime minister Paul Keating. And Australia was rocked by a food poisoning drama at the world swimming championships in Singapore on Wednesday night after Sam Short announced he would not line up in the 800m freestyle final. 7.08am The top local stories this morning Good morning, and welcome to Brisbane Times' live news coverage for Thursday, July 31. Today we can expect a mostly sunny day with a top temperature of 21 degrees. In this morning's local headlines: Brisbane 2032's independent infrastructure delivery body has walked back claims the proposed National Aquatic Centre at Spring Hill would cost taxpayers more than $1 billion to build. The nuclear-powered USS Ohio has quietly slipped into Brisbane for the first time, and for its crew, silence is not only a motto, it's a way of life. Deputy Premier Jarrod Bleijie has announced that Queensland's powerful public inquiry into the CFMEU will be given wide scope to consider a new 'fit and proper person' test for officials, and to scrutinise workplace agreements. In sport, Curtis Scott reached rugby league's greatest heights, suffered a fall, and rebuilt himself through combat sports. Now, the former Melbourne Storm premiership winner has declared he can launch an NRL comeback.
