Brisbane rents on the rise as housing market holds strong

first_imgYear-to-date change 0.8% 0.9% 0.8% The latest quarterly auction report from CoreLogic reveals rents are on the rise. Image: AAP/Glenn HuntWith a median rent of $582 a week, Sydney remains Australia’s most expensive city for tenants.CoreLogic senior analyst Cameron Kusher said the first quarter of the year had recorded the highest increase in weekly rents since the corresponding first quarter a year ago.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago“Our regional housing markets are performing marginally better than the capital cities, many of which have been experiencing weaker rental market conditions in recent years due to excess housing supply,” Mr Kusher said. This three-bedroom house at 10 Kipling St, Moorooka, is for rent for $440 a week.BRISBANE RENTAL MARKET MARCH QTR 2019 All dwellings Houses UnitsMedian rent $436 $453 $399 Year-on-year change 1.4% 1.5% 1.2% Rents are rising in Brisbane. Image: AAP/Glenn HuntAnd they have jumped 1.4 per cent in the past 12 months.The report noted the past year had marked a change in direction for the Brisbane rental market, following several years of declines.Rental yields are also strong in Brisbane at 4.55 per cent, which is higher than the national average of 4.1 per cent.Quarterly rents increased in all capital cities, except Darwin. Monthly change 0.1% 0.2% 0% Current yield 4.5% 4.3% 5.4% center_img A two-bedroom, two-bathroom unit in this complex at 19/15 Durham St, Coorparoo, is for rent for $450 a week.Universal Buyers Agents director Darren Piper said factors such as affordability, interstate migration and the return of investors indicated the Brisbane property market would see stronger rental yields and capital growth this year.Mr Piper said properties in the city’s inner and middle rings offered the most exciting capital growth opportunities for investors in the long-term.He highlighted the suburbs of Keperra and Chermside West for investors looking for entry-level properties, and Cannon Hill, Holland Park and Kedron for those seeking a middle-ring investment. Yield 12 mths ago 4.4% 4.2% 5.2% A house for rent at Caboolture. Picture: Paul GuyRENTS are defying the national housing downturn, with Brisbane showing one of the biggest rises as it continues to buck the trend.The latest quarterly rent report from property researcher CoreLogic reveals rents increased 1 per cent around the country in the first three months of the year.Rents in the Queensland capital rose 0.8 per cent during the period to reach a median of $436 a week, which is the same as the national average. (Source: CoreLogic) Quarterly change 0.8% 0.9% 0.8% last_img read more

Quran sells for record $2.3 million

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.That was a record auction price for a Quran or any type of Islamic manuscript, the auctioneer said. A nearly complete, 10th-century kufic Quran, thought to be from North Africa or the near East, sold for $1,870,000. Both were offered for sale by the Hispanic Society of America, and were purchased by trade buyers in London, Christie’s said. The record-setting Quran was signed by Yahya bin Muhammad ibn ‘ Umar, dated 17 Ramadan 599 (June 1203). It was acquired in Cairo in 1905 by Archer Milton Huntington, who founded the Hispanic Society in New York City in 1904. AUCTION: Manuscript from the 13th century is thought to be world’s oldest complete copy. By The Associated Press LONDON – A Quran written in 1203, believed to be the oldest known complete copy, has sold for more than $2.3 million. The holy book, which had been estimated to sell for up to $715,000, fetched $2,327,300 at Tuesday’s auction in London, Christie’s said. Huntington, the adopted son of railroad and ship-building magnate Collis P. Huntington, died in 1955. The calligraphy in the manuscript was done in gold outlined in thin black lines, and the marginal notes are in silver outlined in red. The kufic Quran bridges a gap between the earlier style, copied on parchment of horizontal format, and the later style of vertical composition, often on paper, Christie’s catalog said. The kufic script takes its name from Kufah in Iraq, an early center of Islamic scholarship, according to the British Library. Because the script’s vertical strokes were very short but the horizontal strokes elongated, it was written on papers in a landscape format.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more