Latest news with #RealEstateInstituteofQueensland
Courier-Mail
04-08-2025
- Business
- Courier-Mail
Renter's cat wins property lotto
A Gold Coast renter says her cat is the real winner after a $1.4m windfall means she no longer has to hide the pet from her landlord. The Biggera Waters disability pensioner planned to use her Gold Lotto win to build a home for her and her fur-ever friend. 'I'm always having to hide my cat during an inspection and I'm sick of it,' the long-term tenant said. 'I will be able to buy a house and no longer worry about inspections or the rent continuing to go up. 'This win is for my cat!' She held one of the seven division one winning entries nationally in Saturday's draw and will collect a prize of $1,428,581.63. Lottery officials have also advised Gold Coast residents to check their tickets, as there is less than one week remaining to claim a $670,000 Saturday Gold Lotto ticket won back in August 2018. The winning woman missed multiple calls from lottery officials trying to deliver the big news and was shocked to discover she was a newly minted millionaire. 'This is the biggest prize I've ever won,' she said. 'I've only ever won $11, and I've been playing for 25 years. 'I'm so excited. I've always wished of winning division one.' In Queensland, tenants are required to seek approval for pets, while landlords must consider each request on a case-by-case basis. Laws introduced in 2022 stopped property owners issuing general no-pet policies, but a request could still be denied if it was deemed the premises were not suitable to accommodate the pet, or if the animal was likely to cause costly damage, according the the Real Estate Institute of Queensland (REIQ) Pacific Fair Newsagency owner Anthony Milligan was stunned his team had sold their second division one winning ticket in under two years.,' Mr Milligan said. 'Our customers will be pleased for the winner. 'There will plenty of conversations around what they would do if they won. Maybe it's their turn next.' MORE NEWS Qld's top-selling property hotspots revealed The suburbs homeowners never want to leave 'Scary' build prices hurt family's home dream Across Australia, there were seven division one winning entries in Saturday Gold Lotto draw 4595 – two each in New South Wales and Western Australia, and one each in Queensland, Victoria, and Tasmania. The Lott's division one winning tally has now reached 258 so far in 2025, including 59 won by Golden Casket customers. A typical unit in Biggera Waters rents at $675 a week, down 3.6 per cent over the past year, PropTrack data shows.
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.'
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.
The Advertiser
13-07-2025
- Business
- The Advertiser
Olympic city house values join the million-dollar club
Interstate migration is fuelling house prices in Brisbane, which has become the second most expensive city in the country, pushing some to homelessness. The median value of houses in Brisbane hit $1,006,000 in May, up from $996,000 in April. The price rose to $1,011,000 in June, marking the ninth consecutive month the Olympic city was the second-highest house market by median value among capital cities. House values in Queensland's capital have skyrocketed by 76 per cent since 2020 following a rush of interstate migration in the wake of the COVID-19 pandemic. The relocation has resulted in a 9.2 per cent rise in the greater Brisbane population in less than half a decade. June data from property platform Cotality shows Sydney's median house value is $1,496,985, with Canberra's $980,802 and Melbourne's $947,611. Cotality says interstate migration is the biggest driver of Brisbane's growth. Brisbane (9.2 per cent) ranked just behind Perth (10.3 per cent) for a change in estimated resident population between June 2020 and June 2024. "Prior to 2020, the Brisbane market had experienced a long-term period of softer growth conditions - setting the market up for a more affordable starting point when the COVID housing boom arrived," Cotality said. "As well as initially being more affordable than Melbourne, and remaining more affordable than Sydney, Brisbane's warmer weather and lower housing density may have presented more 'lifestyle' appeal during the pandemic. "The rapid boost to population growth at a time of constraints on housing supply is likely what led to a substantial boost in values - and urgency - in the housing market." Brisbane no longer rests in the shadows of Sydney and Melbourne and is experiencing its "coming of age moment", the Real Estate Institute of Queensland said. "It really is representative of the fact that Brisbane is very much regarded now as a very vibrant, modern city," the institute's chief executive officer Antonia Mercorella told AAP. But supply has not kept up with the city's rise in popularity and population, with a not-for-profit predicting homelessness will worsen as a result. Charity The Forgotten Women says more than 420,000 women in Australia older than 55 are either homeless or at risk of homelessness. It predicts that number to rise to more than half a million by 2032, with a third of those women in Queensland. "Some of these women may be widows, divorced or escaping family violence, but however they ended up homeless, the brutal reality is they face the risk of premature death within five years if they live on the streets," founder Teresa Reed said. Just south of the Olympic city on the Gold Coast, a housing crisis is putting pressure on vulnerable women, Ms Mercorella said. "These are incredibly tough conditions to find suitable housing and as a result, older women are falling into 'hidden homelessness'," she said. A boost-to-buy scheme from the state government to help young singles and couples enter the market promises 30 per cent equity in new builds and 25 per cent in existing homes of up to $1 million for 1000 Queenslanders. Interstate migration is fuelling house prices in Brisbane, which has become the second most expensive city in the country, pushing some to homelessness. The median value of houses in Brisbane hit $1,006,000 in May, up from $996,000 in April. The price rose to $1,011,000 in June, marking the ninth consecutive month the Olympic city was the second-highest house market by median value among capital cities. House values in Queensland's capital have skyrocketed by 76 per cent since 2020 following a rush of interstate migration in the wake of the COVID-19 pandemic. The relocation has resulted in a 9.2 per cent rise in the greater Brisbane population in less than half a decade. June data from property platform Cotality shows Sydney's median house value is $1,496,985, with Canberra's $980,802 and Melbourne's $947,611. Cotality says interstate migration is the biggest driver of Brisbane's growth. Brisbane (9.2 per cent) ranked just behind Perth (10.3 per cent) for a change in estimated resident population between June 2020 and June 2024. "Prior to 2020, the Brisbane market had experienced a long-term period of softer growth conditions - setting the market up for a more affordable starting point when the COVID housing boom arrived," Cotality said. "As well as initially being more affordable than Melbourne, and remaining more affordable than Sydney, Brisbane's warmer weather and lower housing density may have presented more 'lifestyle' appeal during the pandemic. "The rapid boost to population growth at a time of constraints on housing supply is likely what led to a substantial boost in values - and urgency - in the housing market." Brisbane no longer rests in the shadows of Sydney and Melbourne and is experiencing its "coming of age moment", the Real Estate Institute of Queensland said. "It really is representative of the fact that Brisbane is very much regarded now as a very vibrant, modern city," the institute's chief executive officer Antonia Mercorella told AAP. But supply has not kept up with the city's rise in popularity and population, with a not-for-profit predicting homelessness will worsen as a result. Charity The Forgotten Women says more than 420,000 women in Australia older than 55 are either homeless or at risk of homelessness. It predicts that number to rise to more than half a million by 2032, with a third of those women in Queensland. "Some of these women may be widows, divorced or escaping family violence, but however they ended up homeless, the brutal reality is they face the risk of premature death within five years if they live on the streets," founder Teresa Reed said. Just south of the Olympic city on the Gold Coast, a housing crisis is putting pressure on vulnerable women, Ms Mercorella said. "These are incredibly tough conditions to find suitable housing and as a result, older women are falling into 'hidden homelessness'," she said. A boost-to-buy scheme from the state government to help young singles and couples enter the market promises 30 per cent equity in new builds and 25 per cent in existing homes of up to $1 million for 1000 Queenslanders. Interstate migration is fuelling house prices in Brisbane, which has become the second most expensive city in the country, pushing some to homelessness. The median value of houses in Brisbane hit $1,006,000 in May, up from $996,000 in April. The price rose to $1,011,000 in June, marking the ninth consecutive month the Olympic city was the second-highest house market by median value among capital cities. House values in Queensland's capital have skyrocketed by 76 per cent since 2020 following a rush of interstate migration in the wake of the COVID-19 pandemic. The relocation has resulted in a 9.2 per cent rise in the greater Brisbane population in less than half a decade. June data from property platform Cotality shows Sydney's median house value is $1,496,985, with Canberra's $980,802 and Melbourne's $947,611. Cotality says interstate migration is the biggest driver of Brisbane's growth. Brisbane (9.2 per cent) ranked just behind Perth (10.3 per cent) for a change in estimated resident population between June 2020 and June 2024. "Prior to 2020, the Brisbane market had experienced a long-term period of softer growth conditions - setting the market up for a more affordable starting point when the COVID housing boom arrived," Cotality said. "As well as initially being more affordable than Melbourne, and remaining more affordable than Sydney, Brisbane's warmer weather and lower housing density may have presented more 'lifestyle' appeal during the pandemic. "The rapid boost to population growth at a time of constraints on housing supply is likely what led to a substantial boost in values - and urgency - in the housing market." Brisbane no longer rests in the shadows of Sydney and Melbourne and is experiencing its "coming of age moment", the Real Estate Institute of Queensland said. "It really is representative of the fact that Brisbane is very much regarded now as a very vibrant, modern city," the institute's chief executive officer Antonia Mercorella told AAP. But supply has not kept up with the city's rise in popularity and population, with a not-for-profit predicting homelessness will worsen as a result. Charity The Forgotten Women says more than 420,000 women in Australia older than 55 are either homeless or at risk of homelessness. It predicts that number to rise to more than half a million by 2032, with a third of those women in Queensland. "Some of these women may be widows, divorced or escaping family violence, but however they ended up homeless, the brutal reality is they face the risk of premature death within five years if they live on the streets," founder Teresa Reed said. Just south of the Olympic city on the Gold Coast, a housing crisis is putting pressure on vulnerable women, Ms Mercorella said. "These are incredibly tough conditions to find suitable housing and as a result, older women are falling into 'hidden homelessness'," she said. A boost-to-buy scheme from the state government to help young singles and couples enter the market promises 30 per cent equity in new builds and 25 per cent in existing homes of up to $1 million for 1000 Queenslanders. Interstate migration is fuelling house prices in Brisbane, which has become the second most expensive city in the country, pushing some to homelessness. The median value of houses in Brisbane hit $1,006,000 in May, up from $996,000 in April. The price rose to $1,011,000 in June, marking the ninth consecutive month the Olympic city was the second-highest house market by median value among capital cities. House values in Queensland's capital have skyrocketed by 76 per cent since 2020 following a rush of interstate migration in the wake of the COVID-19 pandemic. The relocation has resulted in a 9.2 per cent rise in the greater Brisbane population in less than half a decade. June data from property platform Cotality shows Sydney's median house value is $1,496,985, with Canberra's $980,802 and Melbourne's $947,611. Cotality says interstate migration is the biggest driver of Brisbane's growth. Brisbane (9.2 per cent) ranked just behind Perth (10.3 per cent) for a change in estimated resident population between June 2020 and June 2024. "Prior to 2020, the Brisbane market had experienced a long-term period of softer growth conditions - setting the market up for a more affordable starting point when the COVID housing boom arrived," Cotality said. "As well as initially being more affordable than Melbourne, and remaining more affordable than Sydney, Brisbane's warmer weather and lower housing density may have presented more 'lifestyle' appeal during the pandemic. "The rapid boost to population growth at a time of constraints on housing supply is likely what led to a substantial boost in values - and urgency - in the housing market." Brisbane no longer rests in the shadows of Sydney and Melbourne and is experiencing its "coming of age moment", the Real Estate Institute of Queensland said. "It really is representative of the fact that Brisbane is very much regarded now as a very vibrant, modern city," the institute's chief executive officer Antonia Mercorella told AAP. But supply has not kept up with the city's rise in popularity and population, with a not-for-profit predicting homelessness will worsen as a result. Charity The Forgotten Women says more than 420,000 women in Australia older than 55 are either homeless or at risk of homelessness. It predicts that number to rise to more than half a million by 2032, with a third of those women in Queensland. "Some of these women may be widows, divorced or escaping family violence, but however they ended up homeless, the brutal reality is they face the risk of premature death within five years if they live on the streets," founder Teresa Reed said. Just south of the Olympic city on the Gold Coast, a housing crisis is putting pressure on vulnerable women, Ms Mercorella said. "These are incredibly tough conditions to find suitable housing and as a result, older women are falling into 'hidden homelessness'," she said. A boost-to-buy scheme from the state government to help young singles and couples enter the market promises 30 per cent equity in new builds and 25 per cent in existing homes of up to $1 million for 1000 Queenslanders.
Perth Now
13-07-2025
- Business
- Perth Now
Olympic city house values join the million-dollar club
Interstate migration is fuelling house prices in Brisbane, which has become the second most expensive city in the country, pushing some to homelessness. The median value of houses in Brisbane hit $1,006,000 in May, up from $996,000 in April. The price rose to $1,011,000 in June, marking the ninth consecutive month the Olympic city was the second-highest house market by median value among capital cities. House values in Queensland's capital have skyrocketed by 76 per cent since 2020 following a rush of interstate migration in the wake of the COVID-19 pandemic. The relocation has resulted in a 9.2 per cent rise in the greater Brisbane population in less than half a decade. June data from property platform Cotality shows Sydney's median house value is $1,496,985, with Canberra's $980,802 and Melbourne's $947,611. Cotality says interstate migration is the biggest driver of Brisbane's growth. Brisbane (9.2 per cent) ranked just behind Perth (10.3 per cent) for a change in estimated resident population between June 2020 and June 2024. "Prior to 2020, the Brisbane market had experienced a long-term period of softer growth conditions - setting the market up for a more affordable starting point when the COVID housing boom arrived," Cotality said. "As well as initially being more affordable than Melbourne, and remaining more affordable than Sydney, Brisbane's warmer weather and lower housing density may have presented more 'lifestyle' appeal during the pandemic. "The rapid boost to population growth at a time of constraints on housing supply is likely what led to a substantial boost in values - and urgency - in the housing market." Brisbane no longer rests in the shadows of Sydney and Melbourne and is experiencing its "coming of age moment", the Real Estate Institute of Queensland said. "It really is representative of the fact that Brisbane is very much regarded now as a very vibrant, modern city," the institute's chief executive officer Antonia Mercorella told AAP. But supply has not kept up with the city's rise in popularity and population, with a not-for-profit predicting homelessness will worsen as a result. Charity The Forgotten Women says more than 420,000 women in Australia older than 55 are either homeless or at risk of homelessness. It predicts that number to rise to more than half a million by 2032, with a third of those women in Queensland. "Some of these women may be widows, divorced or escaping family violence, but however they ended up homeless, the brutal reality is they face the risk of premature death within five years if they live on the streets," founder Teresa Reed said. Just south of the Olympic city on the Gold Coast, a housing crisis is putting pressure on vulnerable women, Ms Mercorella said. "These are incredibly tough conditions to find suitable housing and as a result, older women are falling into 'hidden homelessness'," she said. A boost-to-buy scheme from the state government to help young singles and couples enter the market promises 30 per cent equity in new builds and 25 per cent in existing homes of up to $1 million for 1000 Queenslanders.
