Whitsunday Property Management Newsletter
What is happening in the marketplace post TC Debbie?
Of course, we all know about ex-tropical Cyclone Debbie and the tremendous affect she has had on our beautiful Whitsunday Region. Although some of her remanence remains, the clean-up continues in full force nearly 3 months after her destructive visit.
A lot of people in our region have been left traumatized by this event, but as a community on a whole we have moved mountains getting our region back in ship-shape. It is absolutely astonishing to see how helpful and how supportive our Whitsunday community is so kudos to us!
But what is happening with Real Estate? Is there interest here anymore? YES!
Sales and Rentals are all about supply and demand at the moment and it has been a long time since we have seen this in our area. The majority of most rental properties are renting within 24 hours, some are renting prior to being advertised.
The number of listings has fallen across our local area, reducing competition for home sellers,
making it a great time to sell. Buyer demand has picked up with with 389 sales taking place over
the past 12 months. In houses, the best performing suburb currently is Proserpine with the median
sales price growing 14% over the past year. The median sales price of a home in Proserpine is now $285,000. House sales prices in Cannon Valley grew 4.6% with the median price at $575,000 and Cannonvale grew 0.9% across 61 individual sales with a median of $429,000. Cannonvale has demonstrated the lowest price falls for units with prices falling -5.9% over the past year.
Themedian price for units in Cannonvale is now $239,000. People are snapping up property left right and center, some investors are putting their hands in their pockets again and local buyers are securing their new homes. Some tenants are even saying, “we were planning on buying in the next 6 months anyway, we might as well buy something now.”
We live and breathe real estate in the Whitsundays, we were right there with everyone going through this distressing weather event, we understand our neighbourhoods, our specific property trends, pricing and value and we are still right here with you moving forward. Whether you are looking to make some serious property decisions or even just being inquisitive on the market since Debbie.
ADANI Project Gets Green Light
Adani Chairman, Gautam Adani, today gave the “green light” for the Carmichael mine and rail projects in Central Queensland. “I am proud to announce the project has Final Investment Decision (FID) approval which marks the official start of one of the largest single Infrastructure – and job creating – developments in Australia’s recent history,” Mr Adani said.
“This is an historic day for Adani, an historic day for regional Queensland, and an historic day for Indian investment in Australia. “This is the largest single investment by an Indian corporation in Australia, and I believe others will follow with investments and trade deals. “We have been challenged by activists in the courts, in inner city streets, and even outside banks that have not even been approached to finance the project. “We are still facing activists. But we are committed to this project. “We are committed to regional Queensland and we are committed to addressing energy poverty in India.”
Mr Adani said the Carmichael projects will generate 10,000 direct and indirect jobs, with pre-construction works starting in the September Quarter 2017.
Queensland Premier, Annastacia Palaszczuk, today officially opened Adani’s Regional Headquarters (RHQ) in Townsville from where the company will oversee the construction and operations of the project. The RHQ will also accommodate Adani’s Remote Operations Centre, the first time that such a centre has been deployed in an Australian regional city.
The Prime Minister, Malcolm Turnbull, was represented at the ceremony by the Federal Minister for Northern Australia and Resources, Senator Matt Canavan. Australia Head of Country and Chief Executive, Jeyakumar Janakaraj, said the company had already invested $3.3 billion in the project including buying the bulk coal handling port at port of Abbot Point Adani today signed letters of award for design, construction, operations, supply of materials and professional services.
The biggest deal is with Downer Mining for the construction and operation of the Carmichael mine. The company has also announced in the past few weeks contracts totalling more than $150 million for railway tracks and concrete sleepers for the planned 388-kms standard gauge rail link between the mine and Abbot Point. Importantly, these contracts had gone to regional cities to generate jobs - $74 million for railway tracks (Arrium Steel, Whyalla) and $82 million for sleepers (Austrak, Rockhampton).
Mr Janakaraj announced a further contract for the Carmichael Rail Network linking Galilee Basin mines including our mine to the port of Abbot Point. This contract is with AECOM, who are regionally based here in Townsville. The AECOM deal, which covers surveying and design for the rail link, with the company basing 70 people in Townsville.
“But we are building more than a rail line,” Mr Janakaraj said. “We are building a line that will open the Galilee Basin, linking that massive coal reserve to markets around the world, generating power, and – importantly – generating many thousands of direct and indirect jobs in regional Queensland. “In Adani’s case, it will link its Carmichael coal mine to our bulk loading facility at the port of Abbot Point from where it will be shipped to Adani’s power stations in India.
“While some may be looking for ways to leave regional Queensland, we are looking to the future. We are looking to ensure regional Queensland remains a great place to live, work and to raise a family. “To achieve that, Adani is delivering on its promise to address power poverty for hundreds of millions in India and unacceptably high unemployment in regional Queensland.
“To those activists who sit in creature comfort and criticise us, I ask a simple question – what are you doing for those people?
Greater Whitsunday Alliance advocating for the region
JOHN Glanville is keen to find out what the people of the Whitsundays want.
The chairman of the newly formed Greater Whitsunday Alliance (GW3) asked the group at the bi-monthly meeting. Describing the group as a "joining the dots" organisation, he reflected on a time in the 1970s when Airlie Beach locals bucked all possibility of development and wanted the town to remain a sleepy fishing village.
Then along came Hamilton Island developer, Keith Williams, who was consequently able to realign the island as the hub of the Whitsundays, meaning many years later there are still some visitors to the region who don't set foot on the mainland.
The GW3, which has secured $500,000 in combined funding from the Isaac, Mackay and Whitsunday councils, is about fostering economic opportunity - in line with what the local communities want.
"Part of our job is to is to try and get a better share of that, and part of our job is to try and diversify our industries so when you get a mining down turn the place doesn't fall on its knees."
Current topics of focus for the GW3 include water security, infrastructure funding, cheaper power and in the Whitsundays specifically the development of the cruise ship industry on the mainland.
The group plans to tackle what it described as "post code" discrimination by lenders by providing a united front when advocating for investment in Mackay, Isaac and the Whitsundays.
And feedback on what the communities want is encouraged, either directly or through the regional tourism organisations and chambers of commerce, who can feed information up.
Story by The Whitsunday Times
What have our owners had to say…
“Thank you again to all of you, it’s so reassuring at times like this to know I have the best team in the Whitsundays looking after my property.” – C Santeris
“I wanted to take the time to say thank you for all your help and support and the care you have taken in managing my property. It has been an absolute pleasure dealing with such professional and caring people, I wouldn’t hesitate to recommend LJH and I sing your praises to anyone who listens”
- T Giannopoulos
“I just want to thank you Jess and your team at L J Hooker Whitsundays for the tireless efforts in securing a quality tenant for my property in Cannonvale. The constant correspondence and updates from you during the process was extremely professional.”
- J Fitzpatrick
“Well done team on a massive effort throughout this distressing time (Cyclone Debbie). Thank you for the comprehensive communication” – S & M Atkinson
“LJ Hooker made the whole process easy and stress free for me. Having a very busy life I needed someone to take care from the moment I listed it to every day forward. She is takes care of everything. Sometimes I forget I have the property until the cheque is in the mail. Thank you!” - E Banks
“You’ve done really well, all of you. It must have been very hard (TC Debbie). Thank you for your support, you’ve been great!” – A O’Driscoll & C Dahlstom
“Thanks again for your time today Kelsey, much appreciated and found your conduct very good and professional.” - P Bond
“Thank you all very, very much for what you have done!” – A & L Brand