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Developers move away from units and apartments in the Sunshine State

first_imgCOOLING OFF: The number of apartments in the planning phase has crashed across Queensland.THE total value of apartment and unit constructions across Queensland in the planning phase has dropped to less than a third of what they were one year ago.Data from CoreLogic’s Cordell Construction Monthly show that although the construction sector has grown, the number of new apartments and units in the planning phase had declined.Across the state there were 52 apartment and unit developments in the new project phase with a combined construction value of $450 million last month, compared to 76 projects with a construction value of $1.5 billion just a year before.Commercial research analyst at CoreLogic Eliza Owen said it was no surprise that planned projects had appeared to cool down.“The new project phase is very responsive to market conditions,” Ms Owen said.She said changes in the market like increased scrutiny on risky lending from the Australian Prudential Regulatory Authority could have had a big impact.“I think developer activity is responding to perceived risk,” she said.More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours ago“If they are expecting certain investor loans to decline then they are less likely to develop the same amount of apartments.”14 Of the 52 Queensland apartment and unit projects currently in the new project phase were in Brisbane and four were in Logan.Apartment and unit investors have had a tough 12 months across Brisbane, with values stagnant or even dropping in many inner city neighbourhoods.Although planned construction of new apartments appears to be cooling in Queensland there was still a lot of new construction projects planned across Australia.The total number of new projects recorded by CoreLogic across Australia over March was 1707, a jump of four per cent in just a month.Civil engineering made up 35 per cent of these planned projects, and apartment and units accounted for 27 per cent.last_img read more

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Pulev in Pole Position to Face Ruiz Joshua-Ruiz Jr Winner

first_imgBulgaria’s Pulev, whose only defeat in 29 fights came against Wladimir Klitschko, beat Hughie Fury to earn his position as IBF mandatory challenger and, last weekend, he outpointed Rydell Booker.The IBF told Sky Sports earlier this year about the race between Pulev and WBO mandatory challenger Usyk: “Ours has to come first. The organisations have agreed that the IBF mandatory would be next.”Joshua’s promoter Eddie Hearn first explained in August that the winner of the rematch against Ruiz Jr would have two mandatory challengers to immediately contend with.“We’re going to have a problem where Usyk and Pulev both say: ‘you’ve got to fight me next’,” Hearn told Sky Sports.That could lead to the possibility of a belt being vacated by the winner of Ruiz Jr versus Joshua.“Some belt could become vacant,” Hearn said. “Because the IBF and the WBO are both going to order their mandatories after Joshua-Ruiz Jr. Unless a deal can be done with someone, you’ve either got to do that, or vacate.“But the Joshua-Ruiz fight is so big, it’s almost bigger than the belts.”Usyk, the former undisputed cruiserweight champion, won his heavyweight debut against Chazz Witherspoon last month and immediately said “I am ready” to challenge the champion of his new division.He had previously made clear that his dream fight would be against Joshua at Wembley Stadium, saying: “If you want to be the best, you have to fight the best.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The winner of Anthony Joshua’s rematch with Andy Ruiz Jr could be mandated to fight Kubrat Pulev next, instead of Oleksandr Usyk.Pulev (IBF) and Usyk (WBO) are the mandatory challengers for the titles that are stake between Joshua and Ruiz Jr on December 7, and are racing to be the next opponent for whoever emerges with the belts.“Kubrat Pulev’s next fight will be for the IBF world heavyweight title,” his promoters Top Rank told Sky Sports. “If the Joshua-Ruiz winner decides not to fight Pulev, his next fight will be for the vacant IBF title.”last_img read more

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