Fees, stamp duty up to $100k ’absurd’, warns John McGrath

first_img“Upgraders in big cities are paying close to $100,000 in fees and absurdly high stamp duty,” he said. “If we went back just 20 years for direct comparison, we are now paying an additional $40,000 (inflation adjusted) or 400 per cent more in real terms.”“This is ridiculous and penalises almost every single Australian moving around the property ladder as their life circumstances change.” Australian record smashed with $140m sale Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:36Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:36 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, 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 Rate1xFullscreenWhat do QLD buyers want?00:36 State governments seemed reluctant to address high fees and stamp duty, the report said. Picture: Getty Images.Mr McGrath said with the exception of the ACT Government — which plans to phase out stamp duty by 2032 — there seemed to be very little appetite by State Governments to find a better way.“They seem addicted to the revenue it brings them. As a result, it’s possible that these lower levels of activity will remain for some time.”More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoHe said uncertainty in the world economy was impacting confidence with many “waiting to see how some of these play out”. MORE: Home goes from avocado to masterpiece Mr McGrath said tighter supply in a market where there was strong demand off cheaper money via borrowing and lower interest rates would drive up prices.It was “likely to be a positive factor in the price rebound we’re now experiencing”, he said.“Less for sale generally means better prices. This may indeed keep us in solid territory until we see the next sales cycle begin,” he said of price growth in the market. FOLLOW SOPHIE FOSTER ON TWITTER Upgraders in big cities are paying close to $100,000 in fees and absurdly high stamp duty, says John McGrath.A property turnaround could trip over growing transaction costs in big cities, with buyers paying as much as $100k in fees and stamp duty alone, a new report warns.This according to the McGrath Report 2020, released this week, with MD John McGrath warning higher transaction costs and economic uncertainty were seeing record low listings in most city markets. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, 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 Rate1xFullscreenHow much do I need to retire?00:58 Home held for six decades sold for seven-figure sumlast_img read more

Mum power: The moment mum bought a house for the kids

first_img MORE PROPERTY NEWS Best time ever for first home buyers, but many still in doubt Dad in quarantine, mum in lockdown: Brisbane’s three state auction drama Hayley Granato cheers after winning the auction of 34 Killawarra Rd, Ashgrove. Photo: Debra BelaAN ORIGINAL condition Ashgrove Queenslander that cost two years’ salary in 1972, has sold at auction for $1.31m, more than 13 times the average annual salary in Brisbane today. It has been 48 years since this house last went to auction.Real estate agents lost count of bidders who rushed to register for the auction of 34 Killawarra Road, Ashgrove in Brisbane’s inner west. center_img FOLLOW US ON FACEBOOK “I can’t give you exact numbers, we had some late arrivals, you could say 12 to 14 bidders,” Ray White Lutwyche agent David Lazzarini said. Yellow bidder paddles could be seen scattered through the crowd in the front yard of the 911sq m property.“This is the strongest interest I’ve had in a property for quite some time due to the location and the land size and the prestige properties around it. It’s a grand Queenslander in good condition for it’s age. It’s 90 years old.” The house as it looked when it was first built in circa-1930.David and Alan Mooney’s mum and dad bought the three bedroom house at auction in 1972 for $16,000. Alan and David Mooney with a framed copy of The Courier-Mail newspaper clipping that advertised the auction in 1972.With their mother now settled in a nursing home, the brothers had tidied the house on its 911sq m elevated block before putting it on the market. Inside the home at Killawarra Rd, Ashgrove.In the auction crowd of more than 80 was Peter and Hayley Granato, whose own 1930s family home in Bardon had just gone under contract after an extensive renovation. Hayley and Peter Granato after the auction.“We’ve been looking for years really,” Mrs Granato said. “We renovated our last place and then had three babies and now the youngest is three so we thought maybe it’s time to renovate again.“Pete’s cousin lives around the corner and it’s a great pocket for us, plus we needed something to move the kids into because we’ve just sold our house.” More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours agoParks and wildlife the new lust-haves post coronavirus8 hours agoRay White New Farm principal and auctioneer Haesley Cush reminded everyone to social distance before starting the auction.Bidding in the front yard started at $900,000 and rose in $50,000 lots with the Granatos joining the auction with a bid of $1.15 million. At $1.2m the property was announced on the market and bidding slowed with the Granatos bidding against a couple who currently live in Ashgrove but wanted an elevated position. The property sits in the Avenues of Ashgrove and is only the second house to sell on Killawarra Rd in five years.At $1.310m Ray White auctioneer Haesley Cush’s hammer fell and Mrs Granato fist-pumped the auction win. Peter and Hayley Granato at the moment they won the auction of 34 Killawarra Rd, Ashgrove.Property activity in Ashgrove has remained steady in the first half of 2020 compared to last year, with 115 houses selling in both periods, CoreLogic property data shows.However the sales volume was 10 per cent higher in the first six months of 2018 when 129 houses sold.The median sale price for houses in Ashgrove broke the $1 million mark in March and sustained that through the COVID-19 lockdown period during April, the latest property data shows.October 2018 was the last time Ashgrove recorded a median sales price of $1 million.last_img read more

USACE Authorizes Final Funding for Completing Delaware Dredging

first_imgThe U.S. Army Corps of Engineers has released their Fiscal Year 2017 Work Plan which allocated $29.25 million towards to the Delaware River Main Channel Deepening Project, the Port of Philadelphia (PhilaPort) informs. That money, combined with the $33 million that Congress approved earlier in the month, represents the final federal appropriations to complete the deepening of the Delaware River navigation channel to 45-feet.“This news comes at the perfect time,” said Jeff Theobald PhilaPort’s CEO. “The completion of the channel deepening in conjunction with Governor Wolf’s $300 million investment towards improving landside infrastructure, will enable our Packer Avenue Marine Terminal to be the first terminal on the river to accept the larger vessels!”The Delaware River Channel Deepening Project is a 103-mile-long $392 million project and this federal scheme is funded by both federal and local sources.The PhilaPort is the local sponsor of the project and the signatory of the Project Cooperation Agreement known as the PCA. Pennsylvania has spent $137 million to ensure this economic engine keeps up with competing ports in the Mid-Atlantic.This is the final piece of funding that ensures that the Delaware River will be deepened to 45-feet by December 2017, said the PhilaPort in its release.Additional work to complete the project will continue through 2018.[mappress mapid=”24130″]last_img read more

DP World-CDPQ platform secures funds for new terminal investments

first_img Despite the impacts of COVID-19 and shifts in the global supply chain landscape, the ports sector has demonstrated a fair degree of resilience. Through recent strategic investments in automation and digital technology, DP World said it has strengthened its logistics capabilities, combined with the maritime services operations and worldwide network of ports and terminals, to provide a full suite of end-to-end smart supply chain solutions. “The partnership between DP World and CDPQ has been very successful, and we have benefited from each other’s expertise. The opportunity landscape for the port and logistics industry is significant and the outlook remains positive as consumer demand triggers major shifts across the global supply chain,” Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, commented. As informed, the commitment increases the total size of the platform to $8.2 billion.  “Building on the success of the first collaboration with our strategic partner, DP World,… the enhanced platform will seek investments in high-quality port and terminal infrastructure assets that will help design the future of smart trade and logistics,” Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said. Since its launch in December 2016, the platform has invested in ten port terminals globally and across various stages of the asset life cycle. In the first half of 2020, the port operator reported a profit attributable to owners of $313 million, a decrease of 58.5 per cent from $753 million seen in the corresponding period a year earlier. DP World controls 55 per cent share of the platform, while CDPQ holds the remaining 45 per cent. center_img According to DP World, the enhanced platform will continue to target assets globally, but with an increased scope to broaden its footprint in new and existing geographies, such as Europe and Asia Pacific. The investment platform will pursue its deployment and diversification objectives by expanding across a wider part of the integrated marine supply chain, such as logistics services linked to terminals. “As we take the next step in our partnership, we will further diversify our geographic reach and look to seize new opportunities in a sector that, even during a uniquely challenging period, is driven by long-term fundamental trends.” Dubai-based port and terminal operator DP World and Canada’s insitutional investor Caisse de dépôt et placement du Québec (CDPQ) have announced the expansion of their ports and terminals investment platform through a new commitment of $4.5 billion. “(W)ell connected ports and efficient supply chains will continue to play an active role in advancing global trade and cultivating the business environments closest to their operations. Alongside CDPQ, … we look forward to working together on new investments that will connect key international trade locations worldwide.” On the other hand, the company reported revenue growth of 17.7 per cent on a reported basis having booked $4.07 billion in revenue for the period. DP World said the results were better than expected given the negative impact of COVID-19 on the world trade.last_img read more

Thanksgiving

first_imgHere we are on another Thanksgiving Day.  I hope all is well with you and your family as you prepare for whatever traditions you enjoy on this day.  I will go out for a good meal and then settle down and watch a few football games.  I don’t think it would be a traditional Thanksgiving if you could not watch Detroit or Green Bay on TV.  I didn’t check the schedule so I am not sure if either team plays today.If you are a sport fan like me, you will watch any pro game that is on or any college games that may be played.  There are a couple of traditions that I enjoy when Thanksgiving comes around.  This is the week that the state football finals will take place.  A new tradition for me is the Batesville High School Alumni basketball game this Friday afternoon.This weekend also marks the annual battle between Jac-Cen-Del and Batesville basketball teams.  The girls will get together at Batesville this year, and the boys will play in Indianapolis as part of an opening 5-game basketball marathon.  Many other schools will also play games this weekend, so if you are tired of turkey, go out and support your local teams.last_img read more

Guyana to face Jamaica, Antigua and Aruba in League B of CONCACAF Nations League

first_img… GFF president confident of Nations League successBy Rawle Toney in Las VegasCompliments of Guyana Chronicle and Let’s Bet Sports)THE Golden Jaguars, Guyana’s senior Men’s National football team, will face Aruba, Antigua & Barbuda and Jamaica, in Group C of League B in the CONCACAF Nations League.The Confederation of North, Central America and Caribbean Association Football (CONCACAF) held its official draw for the 2019 CONCACAF Nations League, at the Chelsea Theater in Las Vegas, Nevada. It was conducted by CONCACAF Chief Football Officer Manolo Zubiria and the confederation’s Director of Development and former Grenada international footballer, Jason Roberts.The home-and-away group stage of the 2019 CONCACAF Nations League will be played on FIFA match dates in September, October and November 2019, while the Final Championship will take place in 2020.Additionally, the teams at the bottom of each League A and B group will be relegated to League B and C.By virtue of finishing seventh in the qualifying stages of the competition, Guyana were pitted in League B; something Wayne Forde, president of the Guyana Football Federation (GFF) says he’s comfortable with, given the fact that he’s confident that the Golden Jaguars will hold their own against the Reggae Boyz, Antigua and Aruba.“I know that the countries that would have done well will try to do better and those that might not have done good enough, are going to be making the investment because of the attention this Nations League is getting globally and within the region. It’s going to push member associations to make the investment,” Forde told Chronicle Sport in an exclusive interview in Las Vegas.Forde further added: “My only hope as in the case of Guyana, where the government has come on board in some measure and helped us. That will deepen and we’ll have a greater partnership with the Government and corporate Guyana to help us. I’m wishing similar success for my brothers and sisters within the region.”“I’m excited, I’m not afraid of this group, I think we have the players and we’re continuing to do our work at home and do our procuring abroad to find players that we think can really complement the squad. Coach (Michael) Johnson is optimistic and inspired,” said the GFF boss.Guyana qualified for their first-ever Men’s Gold Cup tournament and will feature in the June 15 – July 7 event. As Forde related that he believes Guyana will be very competitiveness and I’m absolutely confident that we will be a permanent fixture for two consecutive years at the CONCACAF Gold Cup for two consecutive years.”The groups for the 2019 CONCACAF Nations League are as follows (listed in the order drawn):LEAGUE AGroup A – USA, Canada and CubaGroup B – Mexico, Panama and BermudaGroup C – Trinidad and Tobago, Martinique and HondurasGroup D – Haiti, Curaçao and Costa RicaLEAGUE BGroup A – French Guiana, Saint Kitts and Nevis, Belize and GrenadaGroup B – El Salvador, Dominican Republic, Saint Lucia and Montserrat.Group C: Jamaica, Guyana, Antigua and Barbuda and Aruba.Group D: Nicaragua, Suriname, St Vincent and the Grenadines and DominicaLEAGUE CGroup A: Barbados, Cayman Islands, Saint Martin and U.S. Virgin IslandsGroup B: Bonaire, Bahamas and British Virgin IslandsGroup C: Guatemala, Puerto Rico and AnguillaGroup D: Guadeloupe, Turks and Caicos and Sint MaartenAt the conclusion of the group stage, the winners of each League A group will qualify to the Final Championship, while Leagues B and C group winners will be promoted to Leagues A and B for the next edition of the competition.last_img read more

Wisconsin, masked Tucker shake off Pepperdine

first_imgDEREK MONTGOMERY/Herald photoAlando Tucker’s mask didn’t stay on one second longer than it had to Saturday, and when it finally came off, the junior forward couldn’t help but smile. Whether it was for finally being free of the cumbersome protective gear, or more likely because Wisconsin had just sealed its fifth win of the season, 71-55 over Pepperdine, when Tucker left the game with 1:39 left, the congenial all-conference player removed the headgear and flashed the smile Badger fans have become very accustomed to seeing.”[The mask] is fairly new for me; I only had it one day in practice. I’m still trying to get adjusted to it,” Tucker said. “I just felt more comfortable in the second half. I tried not to worry about it as much. I think in the first half I was playing with it a lot trying to get it adjusted, but in the second half I just went out and played.”It showed, as 14 of Tucker’s game-high 16 points were scored in the second period. First-year starting junior forward Jason Chappell chipped in a career-high 15 to, along with Tucker, lead the Badgers (5-1 overall, 0-0 Big Ten) over a very feisty, if somewhat overmatched, Pepperdine (1-4, 0-0 WCC) squad.”I think after Wake Forest, in the second half, that my jump shot was feeling pretty good, so I just thought that if I had the opportunity, that I would take advantage of it,” Chappell said of his personal-best performance.UW came out of the gate with their hair seemingly ablaze, playing with passionate fire and out-hustling Pepperdine to every loose ball. On the Waves’ first possession of the game, sophomore forward Brian Butch simply ripped the ball out of Pepperdine guard Greg Barlow’s hands, setting the tempo early. Freshmen Joe Krabbenhoft and DeAaron Williams followed suit later on, snatching the ball out of the clutches of Wave players.”It was very important to come out and get a quick start at the [Kohl Center],” Butch said. “You want to come out and set the tone right away. The big thing for us is too keep that intensity … and keep on playing hard. I’m not sure we did that tonight.”As the game went on, Pepperdine seemed to steal UW’s fire and put it to use defensively, as the Badgers went without a field goal over the last 5:43 of the first half, allowing the Waves to draw within 10 by halftime.”I thought that at half-court, for us being a young team, I was real happy with our defense,” Pepperdine head coach Paul Westphal said.The Badgers went into the locker room holding a less-than-tenuous 33-23 lead, as the game was kept close by a tenacious Pepperdine defense. The Waves’ offense, however, couldn’t get comfortable against Wisconsin, shooting only 31.3 percent from the field. Pepperdine’s two leading scorers, swingman Tashaan Forehan-Kelly (12.3 ppg) and standout freshman guard Michael Gerrity, (17.3 ppg) had only one point between them, on a Gerrity free throw. Although Gerrity ended up with 12 points, he was generally neutralized, shooting 4-13 from the field.”[Gerrity] is a very talented kid,” Westphal said. “In the first half we shot a very poor percentage and I give Wisconsin a lot of credit for that.””Gerrity is a heck of a ball player, and we needed to get out there and challenge him right away,” Butch said.Wisconsin opened the second-half with a 9-2 run, but soon found that Pepperdine would not go away. After a series of 3-pointers and driving lay-ups, the Waves had drawn within nine, the score 46-37 leading into a media timeout.”I saw that they were making a run and I knew that’s when I had to make an attack,” Tucker said. “It is always picking your spots and that was a time I felt that I really needed to be aggressive.”Sparked by a layup and three-pointer back-to-back from Tucker, Wisconsin went on a 14-2 run, forcing four turnovers and culminating with a driving “and one” layup from sophomore guard Kammron Taylor (12 points, five steals, two assists). Taylor made the free throw to make the score 60-39 and Wisconsin cruised from that point on, as Pepperdine never again got within 15 points of the Badgers.Butch had another solid game for Wisconsin, scoring nine points, grabbing three steals and a game-high nine rebounds, and Wisconsin’s depth was once again evident, highlighted by center Greg Stiemsma’s two blocks, two rebounds and a steal in only nine minutes of play.”We knew [Wisconsin] had good players, and we knew they could hurt you from a lot of different places,” Westphal said.The Badgers will next face UW-Green Bay on Wednesday, beginning a stretch where three of their next four will come against the other Division I Wisconsin schools.last_img read more

WATCH: Dino Babers goes nuts in locker room after Syracuse beats No. 17 Virginia Tech

first_imgMORE COVERAGE:AdvertisementThis is placeholder textSyracuse shocks Virginia Tech with 31-17 victoryThree quick takeaways from SU’s upset winStorify: Syracuse community reacts to the Orange’s winWhat else was going on the last time Syracuse beat a ranked opponent? Syracuse (3-4, 1-2 Atlantic Coast) won its first game over a ranked opponent since Nov. 10, 2012 on Saturday afternoon. SU took down No. 17 Virginia Tech (4-2, 2-1), 31-17, in the Carrier Dome. After the game, first-year Orange head coach Dino Babers addressed his team in the locker room and didn’t hold back his emotions. Comments Facebook Twitter Google+ Published on October 15, 2016 at 8:51 pmlast_img

WINTER TRANSFER- Barcelona Drops Ighalo Interest for Congolese Forward

first_imgBy Femi SolajaThe dream of Super Eagles forward, Odion Ighalo, to play for FC Barcelona has vanished following the absence of his name in the final three short list of strikers the club aims to sign this winter transfer.Although Ighalo had hoped to return to English Premiership or any other top league in Europe, it was the interest shown by the Catalan side 10 days ago that ignite his ambition of becoming Nigeria’s highest profiled player in the current Super Eagles make-up. Odion Ighalo The Catalan club is desperately in need of a back up striker since the exit of Munir El Haddadi to Sevilla.But last night, the former UEFA Champions League champion, according to Diaro Sports, have narrowed their shortlist to three players with DR Congo international striker, Cedric Bakambu who previously played for Villarreal FC as the main target with ‘out of favour FC Chelsea striker, Alvaro Morata and Calos Vela as the other choices in reckoning.Bakambu is currently a player of Beijing Sinobo Guoan in the Chinese Super League. He was signed on for €40 million. The striker is one of the best paid foreign players in China.Barcelona coach, Ernesto Valverde, is said to be interested in the player because his skills sooth the team’s style of play.With 10 days to the end of the transfer window, the Spanish giants are reported to be pressurizing the player to hand over transfer request to his present employer to facilitate smooth switch to Camp Nou.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Metric Gaming boosts US product capacity with Sports IQ odds

first_img tweet Metric Gaming launches InAndOutBet sportsbook January 20, 2020 Related Articles Submit StumbleUpon Bet.Works agrees new partnership with Sports IQ August 5, 2020 SvenPlay confirms Metric Gaming sportsbook extension February 20, 2020 Share Martin de Knijff – Metric GamingMetric Gaming has entered a strategic partnership with US sports odds compiler Sports IQ to build and launch a full suite of next generation US sports betting products.Updating stakeholders, Metric Gaming and Sports IQ will team-up to develop a one-stop solution for the major US pro-leagues (NFL, NBA, MLB and NHL), delivering an optimal ‘simple price feed’ for US wagering incumbents.Partnership frameworks will see Metric combine its sportsbook development capacity with Sports IQ’s deep data proprietary modelling technology providing robust pricing and superior product features tailored for US sports audiences.Collaborating with Sports IQ, Metric Gaming management will seek to display new wagering provisions in Q1 of next year.Martin de Knijff, CEO at Metric Gaming, said: “We are delighted to partner with a company of Sports IQ’s calibre. The two businesses have similar DNA; we’re both committed to working at the sharpest end of the industry, competing on quality and winning in the right way. These products will represent a sharp improvement on the current quality benchmark of US Sports products available, particularly for the nascent US market.”Omer Dor, Co-Founder at Sports IQ, added: “We believe there is a new standard of expectation from suppliers to deliver innovative, reliable and best-in-class products. We are delighted to be working with an exciting company like Metric Gaming as they match our aspirations, and we recognize their huge potential to further disrupt the B2B sport betting market in Europe, the US, and beyond. We look forward to their new and existing clients benefiting from the Sports IQ suite of products.”last_img read more