These are the No Go Zones, the areas experts say you shouldn’t invest in

first_imgThe view toward Brisbane CBD from inner northern suburb of Albion. Albion has performed well in the past few years.QUEENSLAND has three regions that have been labelled No Go Zones for property investment – the suburbs and areas that new research cautions about buying in.Property analyst Terry Ryder of Hotspotting has labelled nine areas in Australia as No Go Zones. The three in Queensland were Brisbane inner city, Brisbane north side and the high rise market on the Gold Coast.It was the first time for several years that no regional, resource town in Queensland had been on the list.Mr Ryder said one thing the No Go Zones had in common was oversupply.He said it was one of the most overlooked issues by property investors, when really it should be one of the most important.“Over-supply causes rents to fall and that drags down property values,’’ he said.His report said the biggest single danger for property investors at the moment was buying apartments in some of the major cities.“Given that Melbourne, Brisbane, Perth and Darwin already have – or are heading towards – major surpluses of inner-city apartments, and Sydney, Adelaide and the Gold Coast are trending in that direction, a good strategy for property investors is to simply avoid high-rise unit markets altogether,’’ he said.“Most of suburbs we classify as danger markets in the Brisbane metro area are inner-city unit markets,’’ Mr Ryder said.“The CBD and most near-city suburbs like Fortitude Valley, Woolloongabba, Kelvin Grove and South Brisbane have vacancy rates above 6 per cent at a time when major new supply is under construction.’’Mr Ryder said tougher restrictions on lending had also had an affect on investors being able to buy, so sales levels had started to drop off.At the same time, vacancy rates were rising from 6 per cent for the CBD in November 2015 to 8.7 per cent in November 2017.“The current high vacancies and the likelihood that they will rise further as projects are completed, as well as growing evidence of declining values, means investors should avoid this market for the time being,’’ he said.Brisbane’s north side, suburbs within 15km north of the CBD, made the No Go Zone list because of the high level of new construction of units and townhouses which had lead to a sharp increase in vacancies.“It is not the whole north side but there are some parts of that market where vacancies are very high because developers built a lot of units and townhouses,’’ Mr Ryder said.“It is temporary, I think 12 months form now a lot of it may have been absorbed but right now some of these places need to be approached with caution. As an investor if you are buying those places, it is going to be hard to find a tenant at a decent rental because vacancies are quite high.“At the same time some of the locations which 12 months ago were included in this report with high vacancies, the vacancies have improved and so there is a prospect that 12 months from now that market will be looking better but right now it is one to be wary of.“The one suburb bucking the trend and confusing the market is Albion,’’ he said.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach Northless than 1 hour agoNew apartments released at idyllic retirement community Samford Grove Presented by “It’s median unit price has enjoyed an uplift of 10 per cent in the last 12 months and an average of 6 per cent per year for the past 10 years.’’The Gold Coast high rise market was on the No Go Zone list. Mr Ryder said it had a poor track record on capital growth and a boom-bust history.“In the lead-up to the 2018 Commonwealth Games, billions are being spent on infrastructure and major developments, creating jobs and demand for real estate.“But at the same time the number of apartments being marketed has risen sharply.’’While Mr Ryder said short term statistics looked good for the Gold Coast – there were low vacancies, increased rents and some price growth in unit markets in the last 12 months.The market was being influenced largely by big projects currently under construction and the scenario could change when they were completed, adding massively to the pool of rental properties.“The Gold Coast covers a large area – and its appeal is not restricted to beachside high-rise units. Houses in regular suburbia present better prospects. Many housing suburbs away from the Glitter Strip have delivered growth of 4 per cent to five per cent, per year in the last 10 years, far better than the high-rise markets.“We recommend investors concentrate on the genuine residential suburbs inland and in the growth corridor heading north towards Brisbane.’’Mr Ryder said many of the housing markets on the Gold Coast had shown growth.He said while the areas he had identified as No Go Zones weren’t all dominated by unit markets it had evolved as a growing issue.But he said there would be a time when the market bottomed and there were opportunities to buy, particularly for owner occupiers.“If you want to live in an inner city apartment maybe 12 months from now might be a great time to buy at a generally good price.’’last_img read more

USC looks to stay focused in dual meet

first_imgThe No. 2 USC men’s tennis team welcomes an old friend Saturday in San Diego coach Brett Masi.Serving as an assistant for the Trojans from 2005-2009, Masi has since taken over as coach of the Toreros and is in the midst of leading the program’s resurgenceStrong play· Freshman Emilio Gomez, who earned Pac-10 Player of the Week, looks to keep his undefeated record intact against San Diego. – Mannat Saini | Daily Trojan “This match will be really special,” said USC coach Peter Smith. “There’s only one way to treat a former family member, and that’s to beat them.”Smith is not the only one who views this match with particular interest.Many upperclassmen, including senior Jaak Poldma and juniors Steve Johnson and Daniel Nguyen, were coached by Masi and are anxiously anticipating his return.“It’s definitely going to be a tough match because [Masi] knows all of our games,” Nguyen said. “We’ve got to be focused, and treat this as if it were a match against Cal or UCLA.”No. 47 Toreros (3-1) are coming off split matches at last weekend’s ITA’s Kickoff Weekend in Knoxville, Tenn.They lost to No. 3 Tennessee 6-1, but responded with a win last week against No. 60 South Carolina 7-0.To prepare for San Diego, the Trojans (5-0) are looking to continue to focus on their singles play and aim to be more consistent.So far, the team has played solidly in the singles department, but is still trying to shake things up and find what works for doubles.“We have two solid doubles teams, but we’d like to win 3-0,” Johnson said. “That comes with more practice and more communication. We need to find the combinations that work best, and our doubles will be just as good as they have been in the past.”Smith likes the way the current matchups look, even though he is unsure if he will stick with them down the stretch.“I feel really good about doubles now that Steve’s healthy,” Smith said. “We have older and younger pairings, and I like our leadership.”That leadership is eased by the strong play of the freshman class, including newcomer Emilio Gomez, who was named Pac-10 Player of the Week.Nguyen, who played doubles last season with sophomore J.T. Sundling, and now plays alongside Gomez, is confident that this communication and comfort will come as the season progresses.USC hosts the Toreros Saturday at 1:30 p.m. at Marks Stadium.last_img read more

Thunder turn up the heat, even series with 112-101 victory over Clippers

first_img“We were down 1-0 in the series, so we wanted to come out and play better,” said Brooks, who watched Durant receive his MVP trophy from NBA commissioner Adam Silver prior to the tipoff. “That was our first line of adjustment; we wanted to play a better basketball game. And we did that. We have a prideful group of guys. We didn’t like the way we executed the last game and we rectified that by playing much better.“Our execution was better, our energy was better. Everything was better. We were connected to one another for 48 minutes.”Durant and Russell Westbrook both had terrific games for OKC, and they got help from the likes of Serge Ibaka, Thabo Sefolosha and Kendrick Perkins. Durant led the way with 32 points, 12 rebounds and nine assists. Westbrook, playing in very animated fashion — he had a running dunk that was thrilling to watch — scored 31 points. He also had 10 assists and 10 rebounds, six on the offensive end. Ibaka and Sefolosha contributed 14 points apiece and Perkins had eight points and nine rebounds.The Thunder outrebounded the Clippers 52-36. OKC shot 50.6 percent from the field, 34.8 from 3-point range. The Clippers shot 44.6 percent, 33.3 percent from beyond the 3-point line, a far cry from the 51.7 percent they shot from there in Game 1. Chris Paul was nothing but complimentary.“They were just aggressive,” said Paul, who took two early fouls and sat out the final 6:41 of the first quarter. “I think Russ (Westbrook) probably played harder than all of us. He was all over the place, and we’ve gotta play better. We have to defend a little bit better.”Paul said it was tough for him to defend the way he might have been able to because of the early foul trouble, but he did not use that as an excuse.Blake Griffin had an off night for the Clippers, as did sixth man Jamal Crawford. Griffin finished with 15 points on 5-of-13 shooting from the field. Crawford, who is so vital to the bench play, had a really poor game, making just two of his 13 shots to finish with seven points. J.J. Redick led the Clippers with 18 points, Paul had 17 points and 11 assists.Los Angeles trailed 61-56 at halftime and was down by 20 late in the third. The Clippers did well to pull within 12 points at 94-82 with 10:02 to play, and even got to within 11 points with just over two minutes to go after going back down again by 20. By that time the reserves were in and Clippers coach Doc Rivers did not put his starters back in the game. “Energy found the ball,” Rivers said, praising the effort by the Thunder. “Russell Westbrook, offensive rebounds. Because it was a loose ball, the energy found it. Perk did it over and over again, Sefolosha did it over and over again. And so that’s why they won the game.” Durant was also asked if he thought his much-talked about speech had anything to do with his team playing so much better. Like his coach, he would not say that.“I think it was more fueled because we lost by 20 points (actually 17) last game,” Durant said. “Guys were pissed off and we came back and responded. We just went out there and played extremely hard.”Westbrook intimated the help from the others helped tremendously.“I thought those guys did a great job,” he said. “They were confident, taking their shots when they were open.” Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img OKLAHOMA CITY >> Oklahoma City Thunder coach Scott Brooks was asked Wednesday before Game 2 of his team’s Western Conference semifinals series against the Clippers if Kevin Durant’s emotional MVP acceptance speech a day earlier might help motivate his team to victory. He wouldn’t quite go there.Brooks was asked after his team defeated the Clippers 112-101 before 18,203 amped-up fans at Chesapeake Energy Arena if it had anything to do with it. He still wouldn’t say for sure that it did. He did, however, admit that his team played a much better game with considerably more juice.The fans seemed to feel that extra burst, too. With the game winding down, the PA announcer informed everyone that they should consider staying inside because of possible severe weather. Some fans left, but many stayed. It was as if they wanted to bask in the glory a bit longer.The series is tied 1-1. Game 3 is Friday at Staples Center.last_img read more