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

Syracuse leans on balanced offensive attack, wins at Virginia for first time since 2004

first_img Facebook Twitter Google+ No. 2 Syracuse (4-0, 1-0 Atlantic Coast) hadn’t played on a more abrasive grass surface since opening weekend, but that didn’t slow the team down Sunday afternoon in Charlottesville, Va.Kayla Treanor netted five goals, and Kailah Kempney added six points as the balanced Orange fended off No. 9 Virginia (1-3, 0-1 Atlantic Coast) for an 18-14 victory in the team’s ACC debut. Eight different players scored goals for SU, which won its first game at Virginia since 2004.“It’s still early in the season, but they played great,” Orange head coach Gary Gait said. “Just a great team effort all-around.”The Cavaliers jumped ahead on a goal from Mary Alati only 1:04 into the game. However, that would be their only lead of the afternoon.Devon Collins quickly scored the first of her four goals to knot the game at one. Thirty-seven seconds later, Alyssa Murray put SU ahead for good with her 11th goal of the season.AdvertisementThis is placeholder textThe teams then traded blows through much of the first half, and Casey Bocklet’s goal near the midway point of the frame cut Syracuse’s lead to 6-5.However, the Orange answered with a four-goal run that Virginia couldn’t recover from. Two tallies came from the stick of freshman Taylor Poplawski, who now has 10 goals in her first four collegiate games.“The first half, we didn’t miss many shots,” Gait said. “The middies got the ball upfield and also played great defense.”The Cavaliers fought back to make the score 14-12 during the second half, but a pair of Treanor goals highlighted another four-goal spurt that allowed the Orange to cruise to the finish.Syracuse now has little time to rest before facing off Wednesday at Boston College at 2 p.m. in its second conference game.“We’ll go home and get a good night’s sleep,” Gait said. “We’re 1-0 now, and we’ve got the best of the best coming up.” Comments Published on February 24, 2014 at 12:43 am Contact Tyler: [email protected]last_img read more