One more reason why Queensland is better than New South Wales

first_imgThere are plenty of homes on offer within 20km of the CBD for less than $500,000, including208 Lyndhurst Rd, Boondall which is listed for offers of more than $499,000. Picture: buyers should be laughing as new figures reveal our affordable hot spots are half the price of those in Sydney.The latest PRDnationwide Hot Spots report labelled Sydney’s “affordable’’ suburbs as having median house prices of more than $800,000, while in Brisbane they were around $400,000.The report found 16.1 per cent of suburbs within 20km of the Brisbane CBD had a median price of less than $500,000.The majority of suburbs, 41.7 per cent were priced between $500,000 and $750,000 and only 3.8 per cent were for more than $1.25 million.PRDnationwide national research manager Dr Diaswati Mardiasmo said while buyers in the Brisbane market could still access plenty of suburbs with properties for less than $750,000 that number had dropped slightly since the end of last year.“Interestingly the under $500,000 market remained stable, potentially due to new unearthed suburbs becoming gentrified,’’ she said.More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours ago“Affordability is the big question.’’While there were 16.1 per cent of the suburbs within 20km of the Brisbane CBD for under $500,000, in Sydney only 0.3 per cent and in Melbourne 7.5 per cent fell within that range.“Buyers in Brisbane with a maximum of $500,000 can access triple (the number of suburbs than) Sydney and double Melbourne.“You would need a budget of $1 million to $2 million to access most of Melbourne and Sydney.“this demonstrates the extreme affordability contrast between the three capital cities.Dr Mardiasmo said in the past 15 months to March 2017 Brisbane’s LGA median house price grew by 4.8 per cent, with the western suburbs attracting the strongest house price growth and the northern suburbs the strongest unit price growth.On there are more than 5000 properties listed within the greater Brisbane region with an asking price of less than $500,000. Of those 897 are within the inner Brisbane area including.last_img read more

Kindred Q1 growth hit by exceptional charges

first_img Submit Kindred Group has this morning published its Q1 2020 trading update stating that its business model has shown its ‘resilience against COVID-19’s exceptional circumstances’.The Stockholm-listed operator recorded a strong opening to 2020 trading, with group revenues ‘returning to double digit growth’ with the group reporting a 11% increase to £250m (Q12019: £224m).During Q1, Kindred detailed that all core markets were tracking above ‘positive expectations’, attributed to a strong take-up of its sportsbook products (trading with higher operating margins) up until COVID-19’s mid-March sports postponements.Kindred maintained an improved EBITDA of £32.5m (Q12019: £30m) despite reporting a number of ‘items affecting comparability’, with the group choosing to absorb specific charges related to ‘disputed regulatory sanctions’ (£8m) and ‘accelerated amortisation costs attached to acquired assets’ (£10m) during period trading.Despite reporting improved top-line results, accounting for significant exceptional charges Kindred declared Q1 2020 operating profits of £7.3m (Q12019: £15m).“As part of the previously communicated plans to review the Group’s cost base, we have recognised a charge of GBP 1.9 million in the first quarter of 2020 in connection with restructuring costs,” said Henrik Tjärnström, Kindred Group CEO.He added: “We have additionally decided to rationalise the Group’s brand portfolio and have announced the pending closure of several smaller brands. This, together with a wider review of acquired intangibles, has triggered a noncash charge of GBP 10.8 million in the first quarter.”Closing Q1 trading, Kindred’s attention has fully shifted to mitigating COVID-19 disruptions across its group operations. This March, Kindred governance sanctioned a number of cost controls and capital liquidity protections to safeguard the firm during lockdown.Tjärnström continued: “We have seen positive growth in other products and we have acted quickly to adapt our marketing and other investments and to maintain an even tighter control over all operating costs. If we see any further deterioration in the business, we will not hesitate to make further adjustments.“As a pure digital company, we are well prepared and ready to take the opportunities that will come when markets start to normalise. I am very confident that Kindred’s well-diversified and financially sound business model will enable us to emerge stronger over the coming quarters.” Share StumbleUpon Unibet backs #GoRacingGreen as lead racing charity  July 28, 2020 Mace launches EQ Connect to solve the industry’s ‘single view’ conundrum on identifying risk  August 10, 2020 Related Articles Share Kindred marks fastest route to ‘normal trading’ as it delivers H1 growth July 24, 2020last_img read more