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Telephone: +61 (0)7 5522 8755
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Bill Morris' Blog/Twitter

Bill Morris, author of the Midwood Queensland Investment Report, is currently keeping a property blog, following current events in the property and investment world. Visit Morris on Property.  Follow us on twitter at www.twitter.com/MidwoodReport

Bill's latest blogs are below:

Sustainable Planning Act Permits “Outsourcing”

The first of many breakthroughs in local government outsourcing of planning issues has occurred in the new Sustainable Planning Act for Queensland, albeit on a limited scale.

The Act came into effect throughout Queensland on 18 December 2009. For development applications which are “as of right” and for which technical assessment is clear cut, they will be categorised as 'compliance assessment'. Many code assessable development applications, which are deemed compliant assessment, will be able to be outsourced to a suitable qualified entity.

It is likely that Councils will soon call for nominations from Planning Consultants to become accredited qualified entities.

Brisbane House Prices Recover to Pre-GFC Levels

The latest data from the Queensland Department of Natural Resources and Water confirms that (mean) average house prices in Brisbane have returned to their pre-GFC level.

Average house prices have recovered in the December 2009 half year to $560,000, which is 10 percent higher than the average of $511,223 recorded in the June 2009 half year.

The new data follows a fall of 10 percent, which occurred from the pre-GFC peak in December 2007 to the trough ending in June 2009. The fall in average house prices has now been matched by the recovery of similar magnitude.

However, sales volumes have not improved in the latest six month period and are still at their lowest levels since 1980.

This reflects the ‘credit squeeze’ for residential housing finance, despite the effects of the first home buyers grant. Credit continues to be a serious problem in housing and low sales volumes have a negative impact on associated industries, such as real estate agencies, removalists, valuers, solicitors, financers and the furniture/white goods/electrical sectors.

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