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Gold Coast market on a downward slope but don’t panic just yet

first_imgVarsity Lakes is one of the Coast suburbs that’s performing well.Herron Todd White Gold Coast director Tod Gillespie said there were a number of reasons the market was softening, but assured there was no reason to panic.Different lending criteria potentially as a result of the banking inquiry and Chinese buyers disappearing from the market were partly responsible.But he said low consumer confidence was making buyers, particularly locals, cautious.“It’s a combination of the press about the Sydney and Melbourne markets slowing,” Mr Gillespie said.“Generally the Gold Coast market follows.“We’ve just gone through four years of sustained growth year on year so at some point, it has to slow down.”He encouraged anyone looking to buy on the Coast to do their research.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 7:28Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -7:28 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p270p270p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenElizabeth Tilley talks prestige property07:29 A new report predicts the Gold Coast property market will slow down in coming months.THE Gold Coast property market is on a downward slope, a new report reveals.The latest report by property valuation and advisory group Herron Todd White suggests both the housing and unit markets on the Glitter Strip are “starting to decline”.The findings are based on property market performance in major cities and regions across the country over the first half of the year and where they are likely to go in the next six months.Following a dull period during the Commonweatlh Games, the report said agents indicated the market had improved to level back out.Despite sales dropping over the past year in most areas, some suburbs were still performing well, particularly Varsity Lakes and Mermaid Waters. The Gold Coast property market has sustained strong growth over the past four years.“They have attributed the positive levels of buyer inquiry in these suburbs to a shortage of good quality stock in central areas and asking prices being more affordable in comparison to neighbouring suburbs,” the report said.However, it said agents were finding it tougher to get quick sales for units priced between 500,000 and $1.5 million.“If the apartment is not reasonably priced from the get go, feedback has indicated that it will likely sit on the market for an extended period,” the report said.“There are many new medium to high rise developments under construction between Mermaid Beach and Surfers Paradise at the moment. More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“It will be interesting to see if this will create a huge oversupply in the near future.”The second half of the year is expected to remain stable.“Whilst we don’t expect sales volumes to increase any time soon, steady levels of demand and a lack of listed stock will likely continue in most central suburbs,” the report said.“An unexpected rate rise in the next six months however would definitely make things very interesting.”last_img read more

French Open tennis: Wawrinka powers past Dolgopolov into third round

first_imgBy Karolos GrohmannPARIS, France (Reuters) – World number three Stan Wawrinka came out on top in his French Open slugfest with Ukraine’s Alexandr Dolgopolov, winning 6-4, 7-6(5), 7-5 yesterday to set up a third-round showdown with Italian maverick Fabio Fognini.The 2015 French Open champion, who has yet to drop a set this week, may have won in three but it was tougher than it looked. The unpredictable Dolgopolov, a former top-20 player, gave him a run for his money.“He pushed me, he pressed me and I had to stay concentrated,” said Wawrinka. “It was a big game and the level was extremely high.“I had to keep pushing back. I served well and that helped so I am satisfied,” said the Swiss, who fired 16 aces compared to the Ukrainian’s six.Wawrinka and Dolgopolov broke each other once early in the first set and both players aggressively looked for quick winners with their rallies lasting an average of 2.8 shots.But the 32-year-old Wawrinka, aiming to become only the third man in the professional era to win three or more slams after turning 30, squeezed in another break to snatch the first set with a fierce backhand down the line.The pair traded blows in a finely balanced second set before taking it into a tiebreak, with Wawrinka again emerging victorious. He sealed the second set with an ace.It was a similar story in the third set with both players pummelling each other until Wawrinka broke Dolgopolov a second time to clinch victory and deny the world number 89 his first third-round spot in Paris since 2011.Mercurial Fognini could be equally tricky and Wawrinka said he was not looking forward to playing him.“He is unpredictable like Dolgopolov,” said the Swiss, one of 30 men over the age of 30 to have made the second round of the claycourt major – a professional era record. “It will be a dangerous match.”Asked if he was looking forward to the third-round encounter, Wawrinka said: “Not really. I don’t know anyone who likes to play that kind of player.”last_img read more

Fans hunting Munster Hurling final tickets.

first_imgWe’ll have full live coverage of Sunday’s game here on Tipp FM in association with Mulcahy Car Sales, Ardcroney, Nenagh. Tickets have been selling fast since they went on sale following Tipperary’s comprehensive win over Limerick in the Munster semi final.Tipp are also involved in the Minor final in Semple when they take on Limerick.County secretary Tim Floyd says tickets are selling fast and the GAA clubs across Tipperary are looking for more tickets due to massive demandlast_img