File photoTOWNSVILLE’S vacancy rates have increased slightly to 4 per cent but are still well below 2017 levels.The latest REIQ Rental Survey shows that vacancy rates rose from 3.8 per cent in March 2018 to 4 per cent in June 2018.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020A REIQ spokeswoman said despite Townsville’s vacancy rate being the second weakest of a major centre, there was positive signs.“The Townsville rental market has shown signs of improvement over the past 12 – 24 months,” she said.“In March 2017 the Townsville vacancy rate was 6.2 per cent so this market is clearly moving in the right direction and is headed toward recovery.”In September 2016 vacancy rates in Townsville peaked at 7.1 per cent before making a steady decline.In September 2008 they stopped as low as 1.5 per cent before they started to rise.According to the REIQ Townsville’s rental market will remain weak until vacancy rates fall below 3 per cent.
CHENNAI: Non-life insurer SBI General Insurance on Monday said it had closed last fiscal with a net profit of Rs 412 crore and a lower underwriting profit of Rs 61 crore.Simply put, underwriting profit is the difference between the premium received and some share of expenses incurred and claims paid. The SBI General Insurance posted an underwriting profit of Rs 61 crore last fiscal down from Rs 79 crore posted in FY19. According to SBI General Insurance, the company posted net profit of Rs 412 crore last fiscal and a gross written premium (GWP) of Rs 6,840 crore. (IANS) Also Read: RIL stocks rise, market cap crosses Rs 10 lakh crore