Brisbane apartment market to outperform nation: Moody’s

first_imgBrisbane apartments to recover in coming years. Source: Moody’s Analytics, CoreLogic.The latest quarterly CoreLogic-Moody’s Analytics Australia Home Value Index Forecasts report predicts a modest 0.6 per cent correction for house values in greater Brisbane in 2019.But that’s much better than the 9.3 per cent fall in house values forecast for Sydney this year and the 11.4 per cent drop expected for Melbourne.The report by the ratings agency sees Brisbane’s housing market recovering in 2020, with a 1.9 per cent increase in house values forecast, followed by a further 2.3 per cent growth the following year. Brisbane apartment values are set to rise over the next two years, according to Moody’s Analytics. Photo: AAP/Ric Frearson.Universal Buyers Agents director Darren Piper said the forecast recovery in Brisbane’s apartment market presented “great buying” opportunities for investors who knew what to look for.“The apartment market has been more sluggish in the face of excessive supply levels,” Mr Piper said.“However, unit values have started to pick up recently, perhaps hinting that the rough patch for the Brisbane apartment market is likely over now.“Since the unit construction peaked back in 2016, supply concerns are not a pressing point now.”It comes as CoreLogic’s quarterly rent review released this week revealed rental yields are rising in Brisbane and rents increased 0.8 per cent in the first three months of the year to a median of $436 a week. The Moody’s Analytics report revises down its predictions for the nation’s property market.In January, the agency forecast a 3 per cent fall for house prices across the country through 2019, but it now believes they could drop as much as 7.7 per cent — led predominantly by falls in Sydney and Melbourne.It expects a more modest correction for apartment values, which are forecast to take a 4.3 per cent hit to growth. Brisbane’s apartment market is set to outperform the rest of the nation. Picture: Mark Cranitch.BRISBANE’S apartment market is predicted to outperform the rest of the nation over the next two years as it bounces back from a supply glut.In good news for property investors, apartment values in the city are forecast to grow nearly 1 per cent this year before jumping 5.8 per cent in 2020 and climbing a further 5.3 per cent in 2021, according to Moody’s Analytics.Areas like Ipswich, Moreton Bay and Logan are expected to see the biggest gains in apartment values in the next two years. RELATED: Only way is up for Brisbane rentscenter_img Moody’s Analytics predicts strong growth for Mackay home values. Picture: Rob Maccoll. Cairns home values are also set to rise modestly this year, while Ipswich house values are expected to increase 1.5 per cent in 2019.Houses in East Brisbane are also set to buck the trend, with a 0.4 per cent rise in values predicted this year. MORE: Size matters for buyers Brisbane house values are forecast to soften this year and recover next year. Image: AAP/Darren England.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoBut not all of Queensland’s housing markets are expected to soften this year.Moody’s Analytics is predicting home values in the Mackay and Whitsunday region to grow 2.3 per cent in 2019, followed by stunning growth of 8.2 per cent and 9.1 per cent in 2020 and 2021, respectively.The report’s authors write that the “recent uptick in commodity prices and tourism has sparked recoveries in areas such as Mackay”.last_img read more

Grassroots Democracy Highlights Media Role in Open Budget Initiative

first_imgIn order to bring transparency to the national budget, the civil society organization known as Grassroots Democracy on 4 April launched the media section of the Integrated Public Finance Management Reform Project (IPFMRP) of the Open Budget Initiative designed by the Ministry of Finance and Development Planning (MFDP).The media awareness element targets citizens of Nimba County and uses local radio stations with 30 hours of airtime.It intends to provide answers to frequently asked questions or what the citizens ought to know in order to enhance their understanding on matters relating to the national budget of Liberia.The Open Budget Initiative is a policy of the Government of Liberia on what the government wants citizens to know about the national budget and to promote greater participation and engagement of citizens in the country’s wealth.Many people do not have any knowledge of the budget which makes it difficult for citizens to give their input on the national budget.In the civil society (Grassroots Democracy) point of view, citizens cannot give any feedback on the budget owing to its complexity.The Executive Director of Grassroots Democracy, Mr. Martin Sopp, said “For a very long time, the citizens only hear about the budget, but are completely ignorant of what the national budget is.“This is one reason for which this document must be reduced to a citizen friendly paper affordable by all and easily understood as compared to its majestic nature over the years.”According a survey conducted by his organization, he said in over 200 communities in Nimba, “many citizens do not know whether there is an allotment out of the county development funds in the national budget for administrative costs in every county.”He said, “In order not to hold our leaders as being corrupt, the government has decided to bring the management of the nation closer to the citizens so that they can take responsibility of their own wealth and stop ignorantly accusing the planners of the money in Monrovia of corruption through the process called Integrated Public Finance Management Reform Project/ IPFRMP.“The IPFRMP is an initiative of the government of Liberia implemented by the Ministry of Finance and Development Planning with support from the World Bank which focuses on the national budget.”He added that IPFRMP aims to help the Government of Liberia achieve its expenditure goals through an efficient management of public funds and the delivery of services to Liberian citizens. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more