West Sussex fund tenders £1.2bn multi-asset mandate

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first_imgIt is expected to be worth up to £300m in revenue for the successful manager, running for a decade and functioning as a framework agreement for local authority funds in neighbouring councils.The fund said the two significantly sized mandates compliment one another based on investment styles at Baillie Gifford and UBS GAM, with the former using a growth style and the latter employing a value bias.In its last full year under the current contract, Baillie Gifford outperformed its benchmark by 5.3 percentage points, providing an overall return of 10.4%.Its mandate began in 2007 and was extended for a further four years at the end of 2010.Overall, the fund holds close to 60% in global equities managed across the two managers, with almost 6% in UK equities.It holds 18.7% in fixed income, predominately managed by UBS GAM, with 10% in property and 5% in private equity.Across the two managers and its other holdings, the fund returned 10.3% over the year to April 2014, however, liabilities increased by £300m to £3.2bn, leaving it with an £800m shortfall.Its property holdings managed by Cushman & Wakefield Investors (CWI) returned 15.1% over the year, however, in April IPE revealed the fund was ending its relationship with CWI after 22 years over performance concerns.From April this year, Aberdeen Asset Management has managed its allocations to property. The £2.6bn (€3.1bn) West Sussex Pension Fund has begun searching for an investment manager as its £1.2bn mandate with Baillie Gifford expires later this year.The local authority pension fund only assigned two mandates to its equities and fixed income holdings, which account for over 80% of assets.It currently uses two traditional balanced portfolios for its £2.2bn allocations to the asset classes, split between Baillie Gifford and UBS Global Asset Management (UBS GAM), with the former’s £1.2bn mandate coming to an end in December.“West Sussex County Council will shortly be seeking to tender a contract for the provision of investment management services for a balanced fund manager, who will be complimentary to the fund’s existing manager,” the fund said in a statement.last_img read more

UK must offer annuity ‘auto-protection’ to counter DC freedoms

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first_imgJohnson also said the government should fix the annuities market by creating a not-for-profit auction house to automate the process of purchasing an annuity, and ensure savers get the best deal.In the paper, ‘Auto-protection at 55’, Johnson wrote market intervention in the annuities market should be seen as last resort.However, he was scathing of the work done by the Association of British Insurers, the industry’s UK trade body, arguing it excelled at ”doing just enough to keep the show on the road, but not enough to address the main issues at hand”.Johnson put forward several proposals, including the default annuity system, called ‘auto-protection’, and forcing the open annuities auctioning.The paper said most savers approaching retirement preferred a safe income stream in retirement, but the challenge remained to determine the structure of the default system.“Auto-protection would ensure that savers reaching the age of 55 are not left to wallow in indecision when pondering the complexities of decumulation,” Johnson wrote.“To the extent that people went with the default of a pension, preferably deferred, the risk of running out of money before death would be reduced, as would the risks of exposure to pot conversion fraud and moral hazard.”Johnson also said ‘auto-protection’ could be incorporated with collective DC (CDC) schemes, with legislation currently before parliament, to encourage the hedging of an individual’s exposure to longevity risk.“Everyone would be free to opt out of auto-protection to pursue alternatives, consistent with the liberalisations announced in the 2014 Budget,” he added.Johnson also said the UK government would have considerable interest in creating a prudent decumulation framework given the moral hazard of relying on the state after wiping out savings.On the annuities market, Johnson wrote automation of shopping around would change both industry and consumer behaviour.A market place for all annuity providers could see them bid daily on appropriate DC pots, which Johnson said could create pricing tension. Pots could be bundled in order to improve pricing efficiency, which would in turn pool risk.The paper said it was in the national interest to see a properly functioning annuities market, as sub-par annuities also lead to a reliance on the state.It suggested the Treasury could participate in annuity provision which would provide alternative funding to Gilt auctions, an approach that would not be without precedent.Johnson said there was legitimate concerns people may fail to purchase suitable retirement products.“People approaching retirement need to be encouraged to purchase retirement income products that limit downside risks, notably longevity, investment and inflation risks that almost all of us are incapable of managing by ourselves.“However, there is a risk that the guidance service will disappoint,” he said.Other proposals included increasing the age at which savers could access savings to 60, by 2024, much faster than currently planned.The paper also called for the 25% tax-free lump sum to be delayed until 65, or scrapped entirely, but accepted political pressure would be against this.To read about the impact of the Budget freedoms for DC pensions, click here,WebsitesWe are not responsible for the content of external sitesLink to Auto-protection at 55 report by the Centre for Policy Studies The UK’s Centre for Policy Studies (CPS) has called on government to create a default decumulation system for defined contribution (DC) pots to ensure savers overwhelmed by new pensions freedoms do not make poor decisions.The traditionally right-leaning think tank said government intervention in the retirement market was a way to appease both right a left ideologies of liberalism with savings and paternalistic oversight.The paper, written by CPS fellow Michael Johnson, was supported by both Conservative peer Lord Holmes and the Trades Union Congress, the UK union umbrella group. Savers could opt out of the default system, which would lead towards annuities, in order to fully access the freedoms announced in last year’s Budget that come into force in April.last_img read more

IPE Conference: Reject outdated investment models – Amlan Roy

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first_imgInvestors must reject outdated models and assumptions and take a more realistic view of the world, argued Amlan Roy at last week’s IPE Conference.Roy, a specialist in macro-demographics and senior research associate at the London School of Economics, urged delegates to “question and challenge the basic concepts” that underpin investment models.“We have had CEOs and CIOs today talk about [model portfolio theory] and the capital asset pricing model,” he said. “It’s a single-period model, and it fails the real life test.“We are pressing [refresh] on models that are single-period, developed in the 60s, and people are still swallowing it.” Such models are usually based on a portfolio of equities, bonds and cash, Roy said, which ignores the recent rise of allocations to alternative asset classes such as real estate, infrastructure and private equity.“For the last 5-10 years, we’ve been saying equities and bonds cannot meet your liabilities,” Roy said. “They will not give you the kind of returns you bought them for in the 1970s and 1980s.”Roy also said investors and pension fund managers should consider how macroeconomics and demographics were “influencing the fundamentals of both assets and liabilities”, while avoiding long-held assumptions of what constitutes important data.For example, on the assets side, he argued that the size of a population or simple GDP were insufficient indicators of a strong economy.Instead, investors should look at GDP per capita as an indication of growing potential for a population’s disposable income.On liabilities, Roy used several examples from around the world to illustrate how retired populations were changing more than many had predicted.Globally, the population aged 80 years and above grew by 400% between 1970 and 2015, he said, “yet the world population only grew by 100%”.He added: “Japan’s 80-plus population was 1% in the 1970s, and 8% in 2015. The super-old population is not just growing faster, they are much older.”Finally, Roy issued a stark warning that “no country in the world has enough money to pay for these pensions”.“Please don’t use models because they behave badly – you need to understand limitations and ask the right types of questions,” he concluded.last_img read more

Pension funds’ liquidity problems are getting worse, says Northern Trust

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first_imgNorthern Trust’s white paper – titled “Cash: an Asset in Adolescence” – detailed several reasons for asset owners’ difficulties.Firstly investors, such as pension funds, have increased their allocation to cash because they need to support their evolving investment strategies, but in the current low interest rate environment they can expect a zero rate of return, which can become negative after inflation.Secondly, the firm said, regulations such as the European Markets Infrastructure Regulation – which requires over-the-counter derivatives to be cleared through a central clearing counterparty — have unintentionally posed liquidity challenges.”Cash is an important investment-enabler — pension funds cannot earn from it but cannot invest without it,” Austin said.However, pension funds could no longer be passive about cash as the available liquidity in the market tightened and returns on cash positions were reduced, he said.Northern Trust said that in order to start to tackle what it termed the “liquidity conundrum”, pension funds should understand investment portfolios from a liquidity perspective by maintaining a “liquidity ladder” and considering future calls on cash.They should also model and stress test their asset-liquidity profiles to be aware of the worst-case scenario and potential sources of liquidity in normal and stressed markets.As well as this, pension funds should determine optimal short and long cash positions and arrangements.Penelope Biggs, head of the Institutional Investor Group for Europe, the Middle East and Africa at Northern Trust, said: “We believe that understanding a portfolio from the point of view of how liquid it might be at any point in time is critical, particularly as the cost of cash liquidity will only continue to increase.” Liquidity problems are getting worse for asset owners, and particularly for pension funds, due to low interest rates and new regulation, Northern Trust has warned.The US financial services firm said in a new white paper that asset owners should “future-proof” their investment policies to make sure they had a balance of security, liquidity yield, and operating efficiency.Mark Austin of Northern Trust’s Institutional Investor Group said: “While the low interest rate environment and associated market dynamics, as well as the regulatory changes focused around liquidity, have affected many institutional investors differently, we see pension funds coming under the greatest pressure as a result of a confluence of these factors.” Finding and maintaining appropriate liquidity was vitally important for most defined benefit schemes closed to new members and in net decumulation, Austin said. This was becoming more and more challenging with many schemes across Europe finding it very hard to balance liquidity while creating returns, he added.last_img read more

Melbourne Mercer: Pension systems fail to make the A-grade

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first_imgDenmark has retained its place as the world’s best pension system, according to Melbourne Mercer’s annual survey – but it has dropped out of the top grade.Melbourne Mercer’s Global Pension Index ranks countries’ pension systems by three sets of criteria relating to adequacy, sustainability and integrity.In the three categories, Denmark ranked best for sustainability, Finland led the way on integrity, while France was best for adequacy.The report into the survey’s findings said that “the sustainability of some current systems is under threat” due to the multiple effects of ageing populations. #1 – DenmarkIn the 2017 Mercer report, the Danish system as a whole was given the best score – 78.9 – meaning it was in the second-highest available grade, B+. This was down from 80.5 and the top A grade the year before.Jan Hansen, deputy director of the Danish insurance and pension association Forsikring & Pension (F&P), said: “The report highlights the weaknesses of the Danish pension system, namely low savings, low employment among the elderly and poor incentives to save [for] retirement in the years just before the state pension age.”It was not worth many Danes on normal incomes saving up for a pension in the run up to pensionable age, the association said. This was because any private savings they built up in these years were offset against state benefits such as the pension supplement and housing benefit.“The problems are connected, so if politicians made it attractive to save up for a pension, there would also be a rise in employment and savings among older people,” Hansen said.However, politicians were showing that they were indeed paying attention to this, he added.Before the summer holiday season, the Danish government put forward a pensions proposal in conjunction with the Danish Peoples’ Party (Dansk Folkeparti), which could solve the problems for the over-60s by giving them the opportunity to save up without having those savings offset against benefits.In August the government launched a tax plan that included an extra tax deduction for pension contributions, Hansen said, adding: “If this turns out well, the Danish pension system could regain its top marks.” #2 – NetherlandsThe Netherlands remained in second place in Mercer’s pension index, slightly behind Denmark on a score of 78.8.However, the Dutch pensions system also saw its rating drop compared to last year’s survey, chiefly due to the inclusion for the first time of real economic growth data in the Melbourne Mercer Index’s calculations.The Netherlands could improve its score by bringing in a minimum access age to clarify that benefits are preserved for retirement purposes. Labour force participation at older ages should be increased with rising life expectancy, Mercer added.The survey also suggested improving the protection of accrued pension rights against fraud, mismanagement or employer insolvency. In Mercer’s opinion, the level of household saving in the Netherlands still needed to be raised.Bart Brenninkmeijer, business development leader at Mercer Marsh Benefits in the Netherlands, said the country could learn much from Denmark, as – contrary to the Dutch pensions system – the Danish system was “very much defined contribution”.“The Danish system scores high on participant confidence, despite having much less pensions capital,” he told IPE’s Dutch sister publication Pensioen Pro. “The question is how can we increase confidence, and how can we prepare people for a new system with more choice options?” #8 – SwitzerlandThe Melbourne Mercer report called on Switzerland to increase the statutory retirement age over time in line with its ageing population.In the referendum on the reform package “Altersvorsorge 2020” in mid-September, the adjustment of the retirement age of women to that of men was one of the most contested points, and was rejected by many female voters.Currently, various Swiss stakeholders are seeking a new reform compromise, but no results are expected to surface by the end of the year.Switzerland’s score decline slightly year-on-year, from 68.6 to 67.6.Sustainability was also the researchers major concern for Switzerland. Among their recommendations for improvement, the researchers highlighted the idea of ending any incentives for taking out money from pension funds before retirement or as a lump-sum payment.Traditionally, mainly given its mandatory occupational pension system, the country has been in the top ranks of the index. However, between 2016 and 2017 it lost two places.#13 – GermanyGermany was among the countries to have benefited the most from two new questions included for the ranking this year, relating to economic growth and the inclusion of voluntary occupational pension systems.Stable economic growth and outlook boosted the country’s rating for sustainability, while its adequacy ranking also increased. This boosted Germany’s total score from 59.0 in 2016 to 63.5 this year.The researchers pointed out the new occupational pension plans that will be set up under the new “Betriebsrentenstärkungsgesetz” law have not yet been included in the ranking.But they noted that “legislation introducing defined ambition plans is likely to increase the index value over time due to several improvements”.#15 – UKThe UK improved its score year-on-year but still fell three places in the overall ranking as three new entrants – Norway, Colombia and New Zealand – all had better scores.The improvement year-on-year (from 60.1 to 61.4) stemmed largely from the addition of voluntary occupational pension plans to Mercer’s methodology.The ongoing implementation of auto-enrolment into defined contribution schemes should improve the score further in the coming years, as would an acceleration of the increase in the state pension age, as recommended by a recent government-commissioned review.In addition, the report said the UK could further improve its rating by “restoring the requirement to take part of retirement savings as an income stream”. This requirement was removed in 2015 by the then-chancellor George Osborne as part of so-called “pension freedoms”.#21 – AustriaWhile the Austrian sustainability ranking profited from the inclusion of the economic stability factor, it could not benefit from the new sub-index on voluntary occupational pension schemes as this pillar is covering less than 30% of the working population – which is the threshold required by the researchers.Additionally, Austria has the second-lowest sustainability ranking in the index, rivalled only by Italy.Full rankingsMelbourne Mercer Global Pension Index 2017 Country2017 score2017 grade2016 score (ranking) 1Denmark78.9B+80.5 (1)2Netherlands78.8B+80.1 (2)3Australia77.1B+77.9 (3)4Norway74.7Bn/a5Finland72.3B72.9 (4)6Sweden72.0B71.4 (5)7Singapore69.4B67.0 (7)8Switzerland67.6B68.6 (6)9New Zealand67.4Bn/a10Chile67.3B66.4 (=8)11Canada66.8B66.4 (=8)12Ireland65.8B62.0 (10)13Germany63.5C+59.0 (12)14Colombia61.7C+n/a15UK61.4C+60.1 (11)16France59.6C56.4 (=13)17US57.8C56.4 (=13)18Malaysia57.7C55.7 (15)19Poland55.1C54.4 (17)20Brazil54.8C55.1 (16)21Austria53.1C51.7 (18)22Italy50.8C49.5 (19)23Indonesia49.9D48.3 (21)24South Africa48.9D48.6 (20)25Korea47.1D46.0 (22)26China46.5D45.2 (23)27Mexico45.1D44.3 (24)28India44.9D43.4 (25)29Japan43.5D43.2 (26)30Argentina38.8D37.7 (27)last_img read more

UK government backs pension dashboard with £5m pledge

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first_imgSource: PLSAGuy Opperman addresses the PLSA conference in October 2018The chancellor’s statement followed months of uncertainty after a national newspaper reported that the DWP was considering abandoning support for the dashboard. However, at an industry conference earlier this month, Guy Opperman, minister for pensions and financial inclusion, told delegates that the government was “utterly committed” to the project.The UK’s Association of British Insurers (ABI) and financial technology firm Origo have so far led the development of a prototype dashboard, which would collate data from providers to display an individual’s pension savings in one place.Anthony Rafferty, managing director at Origo, said his firm was “deeply committed to making the pensions dashboard a reality”.“We have already built the technology to securely find and enable retrieval of individuals’ pensions data, once their identity is securely verified,” he said. “The budget confirms that the Department for Work and Pensions [DWP] will consult later this year on the detailed design for pensions dashboards, and on how an industry-led approach could harness innovation while protecting consumers.“DWP will work closely with the pensions industry and financial technology firms. The budget provides extra funding in 2019-20 to help make this a reality.” The UK government has pledged £5m (€5.6m) to support the establishment of pension dashboards, aimed at collating an individual’s pension savings in one online tool.In his annual budget report, published yesterday, chancellor Philip Hammond said the government would consult on the design of such tools later this year.He also stated that the dashboards would include data on the state pension – an element that industry commentators said was crucial to the project’s success.“The government is taking steps to support the launch of pensions dashboards, innovative tools that will for the first time allow an individual to see their pension pots, including their state pension, in one place,” Hammond said in the budget report.center_img Source: Pension Dashboard ProjectExample of state pension information displayed on the pension dashboard“We have always said that the dashboard would be more effective for consumers if they could also see their state pension on the same page and this now would appear to be the government’s intention.”Huw Evans, director general of the ABI, added that the insurance sector was “ready to continue its collaboration with government on making this vital service a reality”.Steve Webb, policy director at Royal London and a former pensions minister, said including state pension data was “a real step forward” for the development of the dashboard concept.“This greatly increases the prospect of dashboards that cover all the key pension information that consumers need to know,” he said. “The additional £5m a year for the DWP in 2019-20 is also a welcome symbol of the fact that the government is committed to taking this agenda forward, albeit more slowly than we would have wished.”Scott Finnie, product architect at Hymans Robertson, urged the government to establish data standards for companies supplying data to dashboards.“By doing so, it will… allow established providers and new entrants alike to deliver a range of intuitive dashboards and tools to engage consumers in their pension provision,” he said. “By focusing on the data standards, the government will equip and encourage industry to deliver better retirement outcomes for UK consumers.”last_img read more

Gold Coast’s Hinterland suburbs are the best performing

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first_img The top suburbs on the Gold Coast are: Tallebudgera Valley is the top Gold Coast suburb according to the realestate.com.au Property Outlook October 2018.THE Gold Coast’s Hinterland suburbs are continuing to dominate with a new report revealing buyers can’t get enough of the “green behind the gold”.The realestate.com.au Property Outlook October 2018, released today, revealed Tallebudgera Valley and Tallebudgera were the top suburbs on the Coast. 11 Monday Drive, Tallebudgera Valley is on the market at $1.65 million — $1.75 million.The median house price in Tallebudgera Valley is $1.08 million, up eight per cent in just three months and almost 31 per cent over 12 months.More from news02:37International architect Desmond Brooks selling luxury beach villa14 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoMr Jacob said a limited number of properties hit the market each year in Tallebudgera Valley, creating more demand and pushing up prices.“A lot of people will stay 15 to 20 years because it is a very desirable place to live,” he said.“It’s a very tightly held area.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy location is everything in real estate01:59 209 Syndicate Rd, Tallebudgera Valley in under contract through LJ Hooker Mudgeeraba.The findings are based on demand and median price for residential dwellings across the Gold Coast.Tugun rounded out the top three while Currumbin Waters and Burleigh Waters came in fourth and fifth.Ray White Tugun Elanora agent Ken Jacob, who lives in Tallebudgera Valley, said it was no surprise to see the “Valley” on top.“I’ve been to over 50 countries and I don’t know where in the world you can actually live so close to a thriving city and yet be in a tropical Hinterland area like this,” Mr Jacob said.“It’s so close to a bustling city but you could be miles and miles out.”You wake up in pristine paradise and you come home to that same paradise.” MORE NEWS: Meet the new owner of Gold Coast prize home realestate.com.au chief economist Nerida Conisbee.Nerida Conisbee, realestate.com.au chief economist, said Queensland’s economic growth was pulling the market up.“Brisbane is doing well and much of regional Queensland is joining it, although many areas are coming off low bases,” she said.“Even (the) Gold Coast, which had a quick post Commonwealth Games demand hangover, seems to be recovering.” 1. Tallebudgera Valley2. Tallebudgera3. Tugun4. Currumbin Waters5. Burleigh Waters6. Currumbin Valley7. Mermaid Waters8. Worongary9. Bonogin10. Currumbin MORE NEWS: Titan selling Gold Coast homelast_img read more

Five prestige homes were sold on Springwood Rd in 2018

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first_imgMore from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoThe house at 447-449 Springwood Rd, Daisy Hill, sold for $1.4 million.The record was previously held by the same property, which sold for $2 million in 2010.Other sales included 427 Springwood Rd at Daisy Hill — $1.652 million, 447-449 Springwood Rd at Daisy Hill — $1.4 million, 275 Springwood Rd at Springwood — $1.18 million, and 7/330 Springwood Rd at Springwood — $1.1 million. The house at 427 Springwood Rd, Daisy Hill, sold for $1.652 million.Ray White Springwood and Daisy Hill agent Steve Gorman sold three of the five properties, and said demand for prestige properties in the area was strong.“It’s a very sought after area,” Mr Gorman said.“When these properties would come to market, all the buyers would come out of the woodwork, and once it was sold, they would fade away until the next one.“If I had those three houses back on the market, I could sell them within a week.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51 The house at 9/330 Springwood Rd, Springwood, sold for $2.4 million.One street sold more million dollar houses than any other in Springwood and Daisy Hills in 2018.Springwood Rd, which runs through both suburbs, had five sales in 2018 that were above the million dollar mark.The sale of 9/330 Springwood Rd, Springwood, even broke the street record with a sale of $2.4 million.last_img read more

New development to set a new standard of living in Brisbane

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first_img443 Queen St, a new sub-tropical development.IF you enjoy the outdoors, living at 443 Queen St, in Brisbane’s CBD, could be the perfect property for you. With each apartment sitting within a garden enviroment, buyers can enjoy a “home in the sky”. Elizabeth Watson Brown from Architectus said: “This is a distinctly Brisbane building, designed exclusively for our city”.“All homes offer exceptional amenities, design and space features that you would normally only find in a luxury home, but is here in the heart of the city,” she said. “Singapore-based WOHA and Brisbane based Architectus have drawn on their extensive experience in award-winning architecture to create a striking building embroidered throughout with gardens, trees and lush plantings.” 443 Queen St, a new sub-tropical development.More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours ago Inside 443 Queen St.Place New Farm selling agent Judy Goodger said the latest Home Collection was unique.“In my time of selling luxury riverfront apartments, I haven’t seen anything of this calibre and uniqueness created in the Brisbane marketplace,” she said.“My favourite element of the Home Collection is the stunning and very Queensland appropriate subtropical environment, which perfectly complements the panoramic river and city views.“These environmentally-minded homes take full advantage of the fresh air and natural light, perfectly designed for Brisbane’s subtropical climate; it’s a living experience that will set a new standard in Brisbane.”The homes are 40 to 50 per cent larger than most typical apartments recently developed, and true to the building’s design philosophy.last_img read more

Transformed pre-war timber cottage wins North Queensland House of The Year

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first_img Amalfi Coast meets North Queensland The owners of the property wanted a unique and stunning home that equally served for practical day-to-day living in the tropical environment of Townsville. John Galloway who judged the entrants said the builder Reeves Constructions had done well to navigate a difficult site. “The judges were equally impressed with the builder’s ability to negotiate a difficult site with major structural upgrades to the foundations and retaining walls required as work proceeded on substantial demolition of the existing structure.”Mr Galloway also noted the attention to detail which went into the design of the house. “The builder’s craftsmanship and critical attention to detail was exemplary with the skilful combination of different structural materials, various cladding selections and floor finishes,” he said. “This brought its own problems and challenges which were aptly met by the experienced construction team. 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 2020“From the spacious entry through the living zones and on to the external deck, this design oozes tropical chic while optimising the panoramic views over the marina, Magnetic Island and Cleveland Bay,” Mr Galloway said. “Perched high above a rocky precipice on Melton Hill in Townsville, a unique transformation of an existing residence has resulted in a modernist tropical home unrecognisable from the original dwelling. This spectacular home is at the cutting edge of design and building excellence.A PRE -WAR timber cottage which was transformed into a two-storey house at the beginning of this year has been named the North Queensland Master Builders House of the Year. The winning home was hand-picked from an array of high calibre designs and announced at the Ville last night as part of the 2019 North Queensland Housing and Construction Awards. READ MORE Local builder puts his family home on the market Brace for flood of tenancy tips “The judges felt this was truly a unique home with the conceptual design by Arkhefield Architects, delivered by a team of specialist subcontractors, and led by a builder who excelled in all of the virtues of what it truly means to be a Master Builder.” READ MORElast_img read more