Quick Snips July 2011<< Back to Blog
Congratulations on making it though to the end of the 2010-2011 financial year. Easier said than done for most of us and I can’t think of too many highlights other than the last 6-8 weeks since Easter which have finally managed to remind us why it is possible to like it here so much. So I think it is safe to say let’s forget last year on get some positive vibes going about the year in front of us.
Thankfully it appears that La Nina is dead for now and we should be able to enjoy a reasonably clear run with the weather through to summer. The build up of sand along our beaches has them looking their best in years and spectacular sunrises and sunsets have dyslexic atheists across the coast wondering if there really is a DOG. Everything is in place for people to start coming back out to enjoy all that is good about the Coast.
As if to prove a point the Hyatt sold out their Wine & Food festival on the last weekend in June. I hate telling you about these things after the event but at $75 per ticket it is a good sign that people are prepared to start spending again which is something that has been missing particularly during the first half of this year. There have been some pretty major player announcements for this years PGA tournament at Coolum which this year will be held November 24-27. Apart from our regular A grade line up of stars, Greg Norman has agreed to play again for the first time in 7 years plus Australia’s newest superstar Jason Day will be playing at Coolum for the first time. World Top 10 Player Bubba Watson has also agreed to join the season ending event. With all of the worlds best players in Australia playing the Presidents Cup in Melbourne the week before the PGA expect other major player announcements in the next couple of months. In all likelihood this could be the best line up of golfing talent that we will ever see put together for the Coolum event. Speaking of talent, the Mighty Maroons will be back in camp at the Hyatt in the lead up to the final game of this years series. It was a nice gesture to let the Blues get back into the series but I am sure another week back in Locky’s last camp as a player at the Hyatt will get them over the line in Game 3.
The Sunshine Coast Airport will have it’s 50th anniversary on August 12. The management at the airport are working on a number of celebrations including closing off the runway for a period on the Saturday morning to allow the public in to have a walk around the Tarmacs. There is also talk of a possible fun run or match race around the main runway.
Now I bet that is something most of us have never considered doing before now.
The State Government announced some pretty big changes to Stamp Duty in their latest (& hopefully last) budget. As of August 1 2011 there will no longer be any stamp duty concession for principal place of residence. This will mean that you will pay the same amount of stamp duty if you are an owner occupier or an investor. In dollar terms this will be an increase of approximately $7000 for an owner occupier buying a $400,000 property. In our two speed economy where we are obviously in the very slow lane and In a real estate market that is already in reverse, stressed and struggling to gain any traction this seems like very strange thinking. It could be worse I guess, only if at the same time we were continuously threatened with the prospect of rising interest rates and a brand new carbon tax. Say no more!
To balance out some short term sweetener for home buyers, the government has introduced a $10,000 grant for any new property purchased in the 6 month period from August 1.
Construction work on the new and to be redeveloped Coolum Shopping Village is now well under way with completion expected by early 2012. The new centre will have Coles as the main anchor tenancy (replacing Luke’s IGA) which is scheduled to open in September. Luke’s IGA will officially close trading at the end of July so there will be a gap of 4-8 weeks whilst it sorts itself out. Most of the existing tenants will be part of the new Centre.
I attended the opening of the new Pacific Paradise School multi purpose hall and library during the month. These were built with the funding made available through the federal governments building education revolution response to the GFC. In short the new buildings are astoundingly good and will make a huge impact on the educational opportunities available to the kids at that school. There have been many debates about how the money was spent and the amounts spent on particular projects at different schools around the country. At least this is one positive that we can take out of our GFC experience that I am sure will have long term benefits.
Our sales team have a huge number of auctions coming up over the next month. This is an intentional sales strategy that we have undertaken to try and stimulate some buying activity and results for our sellers. There is no doubt that we are in a buyers market which means there are some fantastic opportunities available. Check out the Auctions icon on our website for full details.