Polish pensions reform draws more flak from within government

first_imgUnder current legislation, a fund member’s asset pool can be passed on to heirs irrespective of whether the fund member survives to retirement age.This would not be the case under the proposed change, transferring assets to the members’ sub-account at ZUS prior to retirement.The ministry has also questioned whether the proposed transfer of sovereign bond assets from the OFEs on 31 January 2014 – based on their valuation on 3 September 2013 – is compatible with the principle that laws cannot be retroactive.Minister Michał Boni, generally viewed as a supporter of the second pillar, has long wanted the OFEs to play a greater role in infrastructure investment, including the planned rollouts of local high-speed broadband, part of his ministry’s remit.The Treasury Ministry, for its part, has stated its reservations over the proposed law on future stock market prices.This ministry’s responsibilities include privatisations, and representing the state as shareholder, so arguably it has the greatest interest in ensuring attractive stock market valuations and stable institutional investors.If the majority of fund members switch from the second pillar, the investment pool for shares would shrink, leading to an oversupply, the ministry argues.For those approaching retirement, the incremental transfer of OFE assets to ZUS would inevitably lead to stocks having to be sold off at a discount.The ministry has also warned about some consequences of forcing the OFEs to keep of assets 75% in equities.Should stock prices start falling, the funds would be forced to liquidate the rest of their portfolio in order to buy more shares, at a time when they should be doing the opposite to protect portfolio values. The Polish government’s second-pillar pension reform plans continue to draw fire from within its own ranks.The Government Legislation Centre, whose tasks include coordinating the legislative work of the ministries and other bodies subordinate to the prime minister, has raised constitutional doubts about the proposed ban on second-pillar pension funds (OFEs) investing in sovereign bonds, as well as the requirement that they invest a minimum 75% of net assets in equities.It has also criticised the three-month period during which second-pillar members will have to decide whether to continue to have part of their contributions invested in the second pillar or shift this portion to the Polish Social Insurance Institution (ZUS) as far too short – especially given that the fund values may change radically should the law come into place.The Ministry of Administration and Digitisation has also raised constitutional issues, including inheritance rights.last_img read more

Friday people roundup [updated]

first_imgMorgan Lewis – Investment management lawyer Gawain Hughes has joined Morgan Lewis as a partner. He will advise institutional fund managers, administrators and investors on fund formation, investment and regulation, with a particular focus on private equity, real estate and infrastructure. PwC, The Pensions Regulator, Royal County of Berkshire Pension Fund, HowESG, Columbia Threadneedle Investments, Carmignac Gestion, Morgan LewisPwC – Stephen Soper, the UK pension regulator’s head of defined benefit (DB) regulation, is to join consultancy PwC. Soper joined The Pensions Regulator (TPR) in 2009 as head of risk and funding, being named executive director of DB regulation in 2011. He will leave TPR at the end of July, moving to his new role in September. His departure comes only a few months after Lesley Titcomb took over as the regulator’s new chief executive, bringing to an end Soper’s 20-month spell as interim chief executive in the wake of Bill Galvin’s move to the Universities Superannuation Scheme.Royal County of Berkshire Pension Fund – Howard Pearce has been named independent chairman of the local authority fund’s new pensions board. Pearce, who until early 2013 was head of pension fund management at the Environment Agency Pension Fund, is currently director of HowESG. In addition to his role at Berkshire, he has also recently been named independent chairman of the Avon Pension Fund and the Wiltshire Pension Fund’s pensions board.Columbia Threadneedle Investments – Benjamin Boyer has been appointed sales director for financial institutions in the Romandie and Ticino regions of Switzerland. He joins from Carmignac Gestion, where he was recruited to develop the Swiss market and later take part in the launch of Carmignac Gestion Switzerland as a senior business development manager. He started his career at Sinopia Asset Management.last_img read more

IMF: Low rates ‘eroding viability’ of pension fund business models

first_imgRegulators and supervisors need to “act promptly” to shore up pension funds and life insurers under pressure from sustained low interest rates, according to the International Monetary Fund (IMF), which pointed to the need in Europe for a common framework for risk assessment and enhanced transparency.It said a prolonged period of low interest rates posed a threat to the solvency of many life insurance companies and pension funds, identifying this as one of many mounting medium-term risks to global financial stability as a result of potential negative feedback loops.“Low interest rates add to the legacy challenges facing many insurance companies and pension funds, along with those from ageing populations and low or volatile asset returns,” it said in its 2016 global financial stability report today.“Heightened concern over these important long-term saving and investment institutions could encourage even greater saving, adding to financial and economic stagnation pressures,” it added. It called for “a more potent and balanced policy mix” to deliver economic growth and financial stability, setting out recommendations with respect to banks but also life insurers and pension funds.The viability of business models of many life insurance companies and pension funds are being “eroded” from sustained low interest rates, threatening solvency over the medium term, said the IMF.For pension funds, this is because low interest rates are exacerbating funding gaps via the mechanism of discount rates used to calculate pension liabilities, reflecting falling interest rates and low asset returns.The IMF cited figures for US and UK pension funds, putting the average funding gap at around 30%. Vicious cycleThe IMF said that “adverse dynamics” in many pension plans triggered by the low interest rate environment could lead to “a vicious, self-fulfilling cycle” by driving rates even lower.It sees this as a possibility because of a shift toward liability-driven investment (LDI) strategies among pension funds – notably in the US, it said – which “could substantially increase demand for duration in riskier assets, such as corporate debt and emerging market economy debt, as well as in safe haven sovereign bonds, particularly US Treasuries”.It added: “The more firms that shift their asset allocations toward such assets, the more the yields on these assets decline, reinforcing funding gaps and thus generating additional demand for bonds in a potentially negative spiral.”The IMF recommended “prompt regulatory enhancements” to tackle the risks to pension fund and life insurers and associated potential for negative spillover effects.These measures, according to the IMF, include “identifying medium-term insolvency risks and funding gaps, while enhancing the reform agenda to strengthen standards for internal models and capital frameworks and improve transparency”.For pension funds in Europe, regulations should be strengthened to ensure a common framework for risk assessment and enhanced transparency, according to the IMF.This has strong echoes of a contested recommendation from the European Insurance and Occupational Pensions Authority (EIOPA), which many in the European pensions industry fear will pave the way for solvency requirements for pension funds.The IMF did not reference EIOPA. On its recommendation for a common framework, it said this “means valuing assets and liabilities on a market-consistent basis to facilitate standardised reporting and risk analyses, such as stress testing”.It added: “Greater consistency would boost transparency, including by ensuring regular public disclosure of balance sheet metrics and risk analyses.”,WebsitesWe are not responsible for the content of external sitesLink to IMF Global Financial Stability Reportlast_img read more

Baltics roundup: Nordea and DNB to merge operations

first_imgLuminor’s CEO is Erkki Raasuke, formerly managing director of the LHV Group in Estonia and a former group CFO of Swedbank.Nordea and DNB will have equal voting rights over the combined bank, while having different economic ownership levels reflecting the relative equity value of their contribution to the combined bank at the time of closing.The merger is expected to be completed in the fourth quarter of 2017.Estonian fund takes stake in internet providerLHV Pension Funds Estonia has bought a stake in Cgates, Lithuania’s second-largest cable and internet service provider.The pension provider is part of a consortium – led by Livonia Partners and including Ambient Sound Investments – which will acquire a 35% stake in Cgates through a new share issue.LHV Pension Funds will buy 35% of the share issue, while Livonia Partners will take 51% and Ambient Sounds 14%. The value of the transaction was not disclosed.The capital injection is intended to support growth of the company and further network and technology upgrades.Kristo Oidermaa, 
portfolio manager at LHV, said: “LHV Pension Funds follow an active investment strategy, and as a result we have recently been looking more actively at the non-listed investment opportunities in the Baltics. Cgates has proven its ability to grow organically and through acquisitions.”Oidermaa added: “We believe that there are more opportunities for consolidation in the sector in Lithuania. In that sense, Cgates offers the growth perspective as well as the stability of earnings and business model inherent to the telecoms sector.”LHV Pension Funds has assets under management of just over €1bn. About 20% of its portfolio is invested in Estonia and a further 15% in Latvia and Lithuania.Oidermaa said: “The main objective of our fund’s local investments is to help local enterprises grow, while we expect to earn a profit for the clients of our pension funds from this growth.” Two Nordic financial services giants are to combine their Baltic operations within a new bank.Nordea and DNB have agreed to create Luminor Bank AS. The merger includes the operations of Nordea Life & Pensions.Mats Wermelin, CEO of DNB in Sweden, said: “Scale is key in banking today, with larger banks having more efficient use of resources. The new bank will be better equipped to counter increasing competition in the region and capitalise on scale in order to become the main bank for more businesses, customers and partners in the Baltics.”Nordea has built a strong position within the large corporate segment whereas DNB is active with smaller companies. Together, the banks said they expected to run a larger and more competitive retail business.last_img read more

BA scheme uses ‘captive insurer’ in £1.6bn longevity risk hedge

first_imgBritish Airways’ Airways Pension Scheme (APS) used a “captive insurer” to hedge £1.6bn (€1.8bn) of liabilities against increases in member longevity.In a letter to members, APS’ trustee board said it had established its own insurance company based in Guernsey earlier this year to take on the risk, which was then reinsured by Partner Re and Canada Life Re.The £7bn scheme previously hedged roughly £2.6bn of liabilities through two longevity swap transactions backed by Rothesay Life, completed in 2010 and 2011.However, the trustees said “favourable pricing” had allowed them to bypass this step and deal directly with the reinsurers. It means APS has hedged roughly 60% of its liabilities against improvements in members’ life expectancy.The move echoes similar transactions involving the BT Pension Scheme (BTPS) and the Merchant Navy Officers’ Pension Fund (MNOPF).At £16bn, the BTPS deal, completed in July 2014, is still the biggest ever longevity swap transaction. MNOPF’s deal the same year hedged £1.5bn in liabilities.Several UK insurance companies, including Aviva and AXA, have acted as the insurance intermediary for their own pension schemes’ longevity swaps.APS is the smaller of British Airways’ (BA) two main defined benefit pension schemes. It was closed to new members in 1984, with staff joining after that point going into the £13.1bn New Airways Pension Scheme (NAPS).BA is about to launch a consultation regarding the potential closure of NAPS to existing members.APS has been involved in a long-running legal dispute with BA over discretionary increases introduced by the trustees. The scheme won a case in the UK High Court earlier this year but BA has lodged an appeal against the ruling.last_img read more

German regulator scrutinising Pensionskassen ‘run-off’ deals

first_imgBaFin’s office in Bonn“Without additional capital from outside, some Pensionskassen will not be able to fulfil their obligations,” Grund said.Some Pensionskassen already receive top-up payments, either from the sponsoring employers that set them up, or from the shareholders if they are set up as a listed company.In its annual report, BaFin confirmed that many Pensionskassen had upped their capital buffers, but warned these would not suffice in a continued low interest rate environment.Nine out of the 122 Pensionskassen failed the national supervisor’s stress test, compared to eight last year.Pensionskassen are insurance-based pension funds which, like all German pension vehicles up to now, have a guarantee element.For last year, the BaFin calculated an average net interest granted by Pensionskassen at around 3.9%.They do not have to report their actual returns on investments. Germany’s top financial regulator is scrutinising two recent transactions involving the transfer of Pensionskassen to insurance-backed ‘run-off’ arrangements.At a press conference last week, Frank Grund, executive director for supervision of insurers and Pensionsfonds at BaFin, said more Pensionskassen were considering such a transaction.It follows two high-profile purchases of Pensionskassen by insurer Frankfurter Leben-Gruppe (Frankfurt Leben): In February it bought the €3bn multi-employer Pro bAV Pensionskasse from Axa Germany, and in April it bought the €1.8bn Prudentia PK, which provides pensions to workers at C&A, the fashion company.However, Grund did not name the companies involved or give details of the deals in question. “We are examining closely whether the high legal provisions are fulfilled and whether the interests of the insured would be safeguarded under the new roof,” he said.In case of doubts, he added, BaFin would “either demand alterations” to the contract or “stop the transfer”.The regulator has also placed roughly a third of Germany’s 122 Pensionskasse vehicles under “increased supervision” to monitor their funding status.It expressed concern that the continued low interest rate environment would lead to many more Pensionkassen needing top-up payments.last_img read more

Gen Y set to drive decade-long boom in demand for housing

first_imgGen Y couple Richie Yates and Amy Argyros have just bought their first home in Carina. Picture: Peter Wallis.They plan to renovate the property and live there for the foreseeable future.One of the reasons they liked the house was that it was in a quiet, cul-de-sac with a playground at the end of it. “There’s also a golf course going in across the road, so I think down the track that will have a positive affect on the area,” Mr Yates said.Steve Yates of Place New Farm said he regularly dealt with newly engaged or newly married Generation Y buyers looking to get a foot in the market in Brisbane’s inner to middle ring suburbs. “They’re generally looking to get as close to the city as they can and where they land depends on their budget,” Mr Yates said.“My feeling on the ground is that supply generally is meeting demand. “There’s starting to be that generational switching over of ownership of properties, but it really depends on the location as to how tight the market is.” Generation Y buyers are predicted to drive demand for housing over the next decade.“If Generation Y follows the trend of the previous generation and eschews renting in favour larger dwellings as they enter the family-forming age of life, then this will support a decade-long boom in demand for new houses and land in the new housing estates on the outskirts of Australia’s major cities and affordable major regional centres,” Mr Zigomanis said. UPGRADERS TOLD TO ACT NOW OR MISS OUT “Pressure is also likely to be maintained on house prices in established areas, as competition remains strong for Generation Y families looking to remain in the established areas where they have already been living and renting in smaller apartments.”In Queensland, Mr Zigomanis said demand for new housing would occur in areas like Ipswich, Logan, Jimboomba and North Lakes, while demand for established housing would be concentrated within a 10km radius of the Brisbane CBD. Suburban houses in southwest Brisbane.“The challenge is if you get a reluctance by some of those Gen Ys to move to housing in the outer suburbs, then it puts the onus on the government to try and accommodate that growth in demand in the middle ring and to be able to facilitate the construction of more suitable housing,” he said.More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours ago HOME VALUE GROWTH AT 7-YEAR LOW The Emerging Trends in Residential Market Demand report, which examines trends revealed by analysis of Census data from the past 25 years, found there had been rapid population growth among 20 to 34-year olds in the past 15 years.The report found that was driven by the movement of Generation Y into that age group and strong net overseas migration inflows. New houses under construction. Image: Brendan Esposito/AAP.Mr Zigomanis said that had helped to support the boom in apartment construction in the past decade by supplying a steady stream of new tenants to the market.“However, over the next decade, this surge in 20 to 34-year olds will translate to an acceleration in household growth of those in their late 30s and early 40s,” Mr Zigomanis said. “By this stage, Generation Y will be increasingly coupling up and moving into the family-forming stage of life, and many will be looking to purchase a dwelling — most likely larger dwellings such as detached houses or townhouses, or family-friendly apartments.” HOME SALE SMASHES SUBURB RECORD That’s the case for Richie Yates, 29, and Amy Argyros, 30, who have just bought their first house in Carina in Brisbane’s middle ring.The engaged couple had been renting for about five years and spent three of those saving a 20 per cent deposit for a house. Gen Y couple Richie Yates and Amy Argyros have just bought their first home in Carina. Picture: Peter Wallis.GENERATION Y will drive a “decade-long boom” in demand for houses in and around Brisbane as they ditch renting in favour of the Great Australian Dream, a leading economic forecaster predicts.Changes to the age profile of the population over the next 10 years are likely to produce a shift in the type of demand for housing as those aged 20 to 34 move on to the next stage in life, a new BIS Oxford Economics report released on Thursday reveals.Report author Angie Zigomanis said the emerging trend would underpin demand for new housing on Brisbane’s suburban fringe and established housing in the inner city region. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE last_img read more

Homes so close to the beach you can touch the sand

first_img The beach house with a jaw-dropping price tag The master bedroom is even located on its own gallery level, with timber flooring and sweeping views across the beach. What a view to wake up to!!!!For $2.6 million, the only thing standing between this house and the beach is some glass and a strip of grass. The price may be for the house only but with a view like that, who caresThe listing states it is “house only for sale”, but who cares with a view like that. Located at Bargara near Bundaberg, the top floor lounge has 180 degree views of the Great Sandy Marine Park, Pacific Ocean and beach. 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 estate01:59With the mercury rising, many of us will be dreaming of a beach holiday. But what if you could make it a permanent one?And just how close could you get to the beach?If you are lucky enough to snap up this one at East Bedarra, you will be pretty much ON the sand. Well the rocks at least.Called the ‘Jewel of the Reef’, this two bedroom, open plan villa is available, price upon request, and is being marketed by Christies International. MORE NEWS: What NOT to do when it comes time to sell Here, you can be at one with the ocean. Source: Christies InternationalIt is perched on around 4000 sqm of absolute beach and coral frontage, and has been designed to make the most of the ocean and island views. Hot spots for investors revealed There is a 150 sqm covered deck to bask in the sun and views, and a natural granite tidal pool to cool off.Inside there is a chefs kitchen, a king suite with a rain shower and a queen suite with reef views. There is also a fully contained caretakers residence that includes a Queen ensemble, office and kitchen, and is completely sustainable with 100 per cent solar power plus spring and captured rainwater. Located just 4km off the coast of Mission Beach, Bedarra Island is halfway between Townsville and Cairns.At Holloways Beach north of Cairns, it is hard to wrap your weary head around the fact that this three bedroom house on a 506 sqm block just steps from the sand is on the market for just $1.15 million — the same as a one-bedroom apartment overlooking the concrete jungle that is Sydney. And this one at Holloways Beach is only seperated from the sand by a fenceThe Beach House is divided into two long pavilions, which are separated by a central courtyard. The main living area is custom-designed and includes 18th century Louis XV salon chairs carved in solid pear wood, Jean Prouve 1950 armchairs along with authentic chests and ceramics with a touch of modern contemporary sofasOther features included a private in-house relaxation spa and an eco-friendly building design that includes turtle friendly, dimmable lighting.In Victoria, where you would probably want to wear a wetsuit, this beachfront home is a bargain by Melbourne standards.Located at Portarlington, it has 180-degree water views of Port Phillip Bay, and a large deck to take it all in. And in NSW, this four bedroom house at Newport is situated on almost 1418 sqm across two titles. More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThis Newport beachhouse is one of the originalsThe listing says ‘Burrangarra’ has “claimed one of the few of the peninsula’s most desirable absolute beachfront positions, spilling directly out to the sand and surf at the exclusive south end of Newport Beach”, and was one of the very first homes built on the ridge around 1915.Also in NSW, this three bedroom house on a 537 sqm block with its title stretching to the high water mark is listed for $1.95 million. It is all business at the front for this Denhams Beach houseLocated at Denhams Beach, it sits on the edge of a “quiet cove-style beach” and comes with its own private boathouse, only one of eight allowed in the area according to the listing.The waterfront home reportedly rakes in a whopping $4500 to $5000 a week as a holiday rental during the peak season. … and all party at the back!Meanwhile, in Tassie, this two bedroom beachfront cottage is just a short walk down a sandy track to Opossum Bay. Yes, that is Opossum Bay you can spy through the front doorOn the market for offers over $750,000, with views like that it may be worth embracing your inner ice cube and getting over the fact that you are roughly the same distance from Cairns as you are from Antarctica. Stunning!The cottage offers an open plan lounge-dining area with access to a timber deck with views overlooking the River Derwent, toward Hobart’s southern suburbs and the Mount Wellington Ranges.Outside the property features a double carport, front and rear decks, a large shed, three water storage tanks, gardens and an absolute beachfront position, all just a 35 minute drive south of Hobart. Insane $45m mega-mansion hits the marketlast_img read more

Yeerongpilly house wins ‘best in Brisbane’ accolade at regional architecture awards

first_imgPark Road House in Yeerongpilly is named Brisbane House of the Year in the Australian Institute of Architects’ Regional Architecture Awards.Park Road House, a renovated Queenslander in Yeerongpilly, south of Brisbane, designed by LineburgWang Architects, has been named Brisbane House of the Year at the Australian Institute of Architects’ Regional Architecture Awards.The architect also took out the Commendation – Residential Architecture Houses (alterations and additions) award. Project Park Road House Winner LineburgWang Project Wooloowin House Nielsen Jenkins Winner JB House Reddog Project Lucent Winner Plazibat Architects Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, 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 Rate1xFullscreenHow much do I need to retire?00:58 The renovation made the most of the original bone structure of the Queenslander home.The owners, who have moved in to the property, said of the renovation: “It has enhanced our lives ways unforeseen. It’s a total pleasure and indulgence to stay home. It’s a favourite pastime to stroll each room, wine in hand, discovering surprises of design detail and craftsmanship. The owners say the house has enhanced their quality of living.“The old melds seamlessly and respectfully into the new. A long-held dream become reality.”The judges said of the project: “The subtle and respectful interventions never compromise the floor plan of the character dwelling, but enhance spatial planning, ventilation and light to existing and new rooms. Clever detailing is refreshingly minimalist and contemporary, yet sympathetic to the existing.”Mr Lineburg started his company four years ago with business partner Lynn Wang and together they focus on bespoke residential and small-scale commercial projects.More than a dozen projects were recognised by the awards, covering educational, commercial, heritage, interior and urban designs. The house is a mix of architectural and historical features.It is the first year that the Lord Mayor’s Brisbane Buildings that Breathe Architecture Prize has been awarded, which went to Plazibat Architects for its Lucent residential development in Newstead, which features Australia’s longest rooftop pool.The full list of winners are: Commendation – Urban Design Project Camp Hill Winner Marketplace, Arkhefield Project The Fantauzzo Winner SJB Commendation – Residential Architecture Houses (Alterations and Additions) John Dalton Award for Building of the Year Project Park Road House Winner LineburgWang Project Queensland University of Technology, Peter Coaldrake Education Precinct Winner Wilson Architects + Henning Larsen Architects Double-digit house price falls ahead, says NAB Project Art Box Winner Sparks Architects Project 100 Creek Street Redevelopment Winner Cameron & Co Architecture Project Queensland University of Technology, Peter Coaldrake Education PrecinctMore from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours ago Winner Wilson Architects + Henning Larsen Architects, Architects inAssociation Project Department of Industry, Innovation & Science Office fit-outWinner Cameron & Co Architecture Project Elizabeth Arcade Winner Arkhefield Project CaliforniaLane Winner Guymer Bailey Architects The Lord Mayor’s Brisbane Buildings that Breathe Architecture Prize Commendation – Residential Architecture (Multi-Res) Commendation – Interior Architecture Commendation – Commercial Architecture LineburgWang Architects was behind the winning renovation. Photos: Christopher Frederick JonesThe winners of the awards, held annually to celebrate Brisbane’s standing as a city with enviable architecture, were for the first time in 81 years announced online because of the coronavirus restrictions. The winners will all be entered into the state awards to be held in July.Michael Lineburg, the co-founder of LineburgWang Architects, said he was surprised but delighted with the win.He said the project, which involved the renovation of an existing Queenslander which had been a family home for 33 years, took three years to come to fruition, with 18 months of planning and 18 months for the build. The project took three years to complete from inception.“The couple had 2200sq m of land, but the house never really sat comfortably on the site, so the project was all about turning it into a house that could encourage the family and their future grandkids to come back home,” Mr Lineburg said. “So less about making a bigger house and more about reconfiguring the rooms they already had because they weren’t functioning well.”He said they opened the house up but tried to keep the bones of the original structure. The brief was to create a secure but open home.“We wanted to keep the character of the home but the formal rooms were being under-utilised because they were so dark, as they often are in Queenslander homes, and so we really opened it up to the northeast, while keeping the qualities of the rooms,” he said.“The other side of the brief was that the owners really wanted to feel they could open the house up, so a big part of the design was that it could be secure, but left open,” Mr Lineburg said.The building full of modern angular lines and fencing outside, with character accents inside the property. MORE: Huge interest in termite-infested house Commendation – Residential Architecture Houses (New) Project Corymbia Winner Paul Butterworth Architect Project J & J Residence Winner Hogg & Lamb Project Bardon House Winner Bligh Graham Architects Brisbane House of the Year Project Lucent Winner Plazibat Architects Project Trio on Amos Winner REFRESH*DESIGN Project Small Street Townhouses Winner Reddog Architects Project The Boatyard Winner BVN Project Barca Winner Bulimba Arkhefield Commendation – Heritage Architecture Commendation – Small Project Architecture Project Adderton: house heart of mercy Winner Wilson Architects Project Bardon House Winner Nielsen Jenkins First look inside travel king’s incredible house Project Gossip Gowns Winner Reddog Architectslast_img read more

Is winter the best season to list on the Gold Coast this year?

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:31Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:31 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, 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 Rate1xFullscreenIs it a good time to list?02:31Winter could well be the new spring on the Gold Coast as a buzz of buyer activity and a surge in new listings suggest the pandemic has thrown the traditional property seasons out of whack. A report by CoreLogic shows the number of newly advertised properties for sale across the Gold Coast region increased by 6.4 per cent over the month of June, up 34 per cent from an April low.“The rise in new listing numbers is an indication that homeowner confidence has improved enough that more vendors are willing to test the market,” the report states. 108 Cabana Boulevard, Benowa Waters has been with the Hahn family for 18 years.Harcourts Coastal director Dane Atherton said the high level of buyer activity made winter an even better time to sell this year. “The pandemic has certainly thrown the traditional seasonal periods out of whack,” he said.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago“Winter on the Gold Coast is always the best time to sell because the contrast in weather is the greatest for our southern buyers which makes it even more attractive. “Our sales volumes in April, May and June have been at spring levels — we finished $30 million up in June on written business.”While new listing numbers have surged, total listings have held reasonably firm, implying a strong rate of absorption as buyer demand picks up more quickly than fresh stock being added to the market.The strong rate of absorption is likely one of the factors supporting housing values across the Gold Coast. According to the CoreLogic home value index, Gold Coast dwelling values were steady in June and rose by 0.7 per cent over the quarter.With the border now open to NSW buyers and locked down Victorians make plans to relocate, sellers are in a good position, added Mr Atherton. “What’s happening in Victoria has further fuelled inquiry in our market as people have had enough and just want to get out there,” he said. Sydney resident Gary Hahn is selling his Benowa Waters holiday home. Picture: Glenn HampsonSydney resients Gary and Julie Hahn, who are preparing to put their beloved Benowa Waters holiday home to auction next month after 18 years, felt confident going to market.“I’ve bought a few properties over the years and I don’t think there’s a good or bad time to sell,” Mr Hahn said. “If you’ve got something presentable and somebody wants it, it doesn’t matter when you’re selling.” last_img read more