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Archives for: September 29, 2020

Singaporean sovereign investor buys stake in Rothesay Life

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first_imgTay Lim Hock, president of GIC Special Investments, expressed confidence in the current Rothesay management team.“We also believe in the long-term potential of the expanding market for pension insurance buyouts and buy-ins,” he added.MassMutual CIO M Timothy Corbett said the investment was compatible with its search for long-term returns.“Demand for risk management from UK defined benefit pension schemes offers significant growth opportunities, and our ongoing investment in Rothesay Life supports our view the company is well-positioned to capitalise on this opportunity,” he said.The parties did not disclose a price for the transaction, which is subject to approval from regulators, including the UK’s Prudential Regulation Authority.Rothesay has written almost £1.4bn in business this year, agreeing buy-ins with Philips and aerospace firm Cobham, as well as a buyout with the UK branch of Intercontinental Hotels.The firm, established in 2007, expanded its hold on the pension insurance market in 2010 by acquiring rival Paternoster. Singaporean sovereign wealth fund GIC is to acquire a 28.5% stake in UK pension insurer Rothesay Life, months after Goldman Sachs confirmed it was looking to sell part of the wholly owned subsidiary.In addition to GIC, funds managed by Blackstone will also buy 28.5% of shares, and Massachusetts Mutual Life Insurance will acquire 7%, leaving Goldman as the largest shareholder, with a 36% stake.Chief executive Addy Loudiadis said she was delighted three “substantial” investors had been attracted to the company.“With over £12bn (€14.1bn) of accumulated liabilities, we have now successfully diversified our shareholder base as the next step in our journey,” she said.last_img read more

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Dutch pensions industry challenges EIOPA approach to stress tests

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first_imgThe Dutch pensions industry has criticised recent European stress tests, arguing that the approach taken by the European Insurance and Occupational Pensions Authority (EIOPA) will fail to provide any useful insights.APG, the largest pension fund in the Netherlands, recommended using asset liability management (ALM) studies in place of economic scenarios to assess the viability of the pensions sector, an idea backed by pension managers PGGM, MN, Syntrus Achmea and the Dutch Pensions Federation.In a joint article for the current issue of IPE magazine, Peter Vlaar, APG’s head of ALM modelling; Wilfried Mulder, senior policy adviser at APG; Siert Vos, MN’s senior policy adviser; Agnes Joseph of Syntrus Achemea; Niels Kortleve, PGGM’s innovation manager; and Sibylle Reichert of the Pensions Federation, said EIOPA should not treat pension funds like banks or insurance companies.The authors – pointing out that pension funds cannot default and are unleveraged and unburdened by mass withdrawals – denied that the sector posed a contagion risk to other institutions. “On the contrary,” they said, “Dutch IORPs absorb financial shocks without amplifying or transmitting these to other institutions, and thus they have a stabilising effect in financial markets, especially in times of financial market distress.”They added that any distress caused by a financial downturn where risks are associated with a pension fund, such as benefit certainty, is not instantaneous but rather evolves slowly.“This is due to the long-term nature of the liabilities of Dutch IORPs and, in the case of defined benefit (DB) schemes, also due to the associated recovery plans,” they said. “In this case, the financial distress of a typical Dutch IORP is not transmitted to the financial system and therefore does not lead to instability of financial markets.”Instead of EIOPA’s assessing European pension funds based on the two adverse market scenarios – proposing a crash in share prices or a rate increase – or an increase in life expectancy, the authors instead proposed ALM studies as a means of providing insight into the impact of stress scenarios on beneficiaries.They argued that the ALM study included a number of calculations, such as future potential benefit levels, that were absent in EIOPA’s calculation.“Moreover,” they added, “contrary to the DB stress test approach, it provides metrics – such as expected impact and impact in a ‘bad weather’ scenario over multiple time horizons – that provide insights into the consequences of a shock.”The results from the stress tests, conducted between May and August last year, are expected to be published by the second quarter of 2016.last_img read more

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Asset management roundup: Aberdeen Standard Life merger completes

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first_imgJupiter M&G Woodford Investments Hermes Absorbing research costs Passing costs on to clients Source: IPE JP Morgan Amundi Schroderscenter_img Man Group The merger was first announced on 6 March. It was previously announced that the chief executive officers of Aberdeen and Standard Life, Martin Gilbert and Keith Skeoch, respectively, would become co-CEOs of the merged group.Skeoch said: “Today marks the culmination of many months of hard work and preparation by our business, and the beginning of a new chapter in our history as Standard Life Aberdeen plc.“Our leadership team is in place and we have full business readiness from day one.”The formal launch of Standard Life Aberdeen comes after Prudential, the UK financial services group, announced that it would merge its two main businesses to create a £332bn asset manager.  JP Morgan to absorb MiFID II research costsJP Morgan Asset Management has announced that it will cover the cost of external research under the Markets in Financial Instruments Directive (MiFID II) rather than passing on the costs to clients.It said it has not made any changes to its internal research teams as a result of this decision, and that it uses external analyst research “where we believe it can add value to client portfolios”.In deciding to pay for sell-side research costs itself, JP Morgan is following the likes of Hermes, Kempen, M&G, Vanguard and others. Amundi, Janus Henderson, MAN Group and Schroders have signalled their intention to pass on the cost to clients. Janus Henderson Aberdeen Asset Management and Standard Life have completed their merger today to form Standard Life Aberdeen, which manages £583bn (€642bn) of assets.The move creates the fifth largest European asset manager and 25th largest in the world, according to IPE’s 2017 Top 400 rankings. This is based on data from the end of 2016.The new group’s investment business is Aberdeen Standard Investments, while its pensions and savings business is Standard Life. Together the group has assets under administration of £670bn.Overall Standard Life Aberdeen will have a market capitalisation of over £11bn. Select asset manager decisions on research costs post-MiFID II Vanguard Kempenlast_img read more

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Danish government moves to simplify financial regulation

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first_imgThe Danish pensions industry association has thrown its weight behind proposals to cut red tape – part of a wide-ranging government overhaul of financial regulation.Per Bremer Rasmussen, chief executive of industry group Insurance & Pension Denmark (IPD), said the sector had seen “a massive amount of regulation” in the wake of the financial crisis, which had been extensive and costly.IPD was part of a working group – set up by Denmark’s Ministry of Industry, Business and Financial Affairs – alongside banking lobby group Finans Danmark, the Danish central bank Nationalbanken, researchers, and others.Bremer Rasmussen said the group came up with suggestions on how to simplify regulation, but without compromising consumer safety.  It recommended the implementation of 56 initiatives covering direct EU regulations, Danish implementation of EU regulations, special national rules, and the supervision activities of the Danish FSA (Finanstilsynet).Brian Mikkelsen, Minister for Industry, Business and Financial Affairs, said: “The working group has carried out a good service check on whether the benefits of the last few years’ sharpening of financial regulation overall outweighs the costs that regulation involves for the financial sector.”The group’s suggestions could contribute to estimated financial savings of more than DKK300m (€40.3m) for businesses every year, even though there were some initiatives where it was not possible to gauge the level of savings, said IPD.The group also looked into whether regulation could be made more compatible with digitalisation, and how more use could be made of technological developments. Bremer Rasmussen said the insurance and pensions sector had many new options within digitalisation. “I am particularly glad it is possible to use digital solutions to a greater degree and focus more on providing insurance products that live up to consumer expectations for digital insurance products,” he said.last_img read more

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People moves: PMT, Cardano add investment expertise [updated]

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first_imgPMT, MPD, Cardano, Franklin Templeton, Society of Pension Professionals, AXA IM, TabulaPMT – Roelie van Wijk has started as a member of the investment committee of PMT, the €80bn Dutch sector pension fund for metalworking and mechanical engineering. She has been CEO at TKP Investments, a subsidiary of Dutch insurer Aegon, for more than 11 years. Since 2018, she has been Aegon’s head of public affairs while also leading its sustainable strategy and investment operations. At the start of 2020, she left Aegon in order to focus on non-executive board, advisory and supervisory positions.The pension fund has also appointed Dominique Dijkhuis as a trustee and chair of its investment committee. It said she has ample experience in asset management and financial risk management. Dijkhuis has been in several supervisory positions and senior management jobs at supervisors DNB and AFM as well as asset manager BMO, the former F&C. Currently, she is also a board member, responsible for asset management, at DNB’s pension fund. MPD – José Claus has been appointed as director of Media Pensioen Diensten, the pensions provider for the €6.5bn non-mandatory sector scheme PNO Media. Claus succeeds Walter Mutsaers, who started as executive chair of the €23bn merger pension fund for public transport (Rail & Openbaar Vervoer) in April. She has been manager for pensions & IT at MPD since August, after joining from PGGM, where she was director of pensions management. Prior to this, Claus has been in several management positions at insurers and pension providers.Cardano –  The pensions and investment management consultancy has hired Ross Barr as an investment strategist, and Nigel Sillis as client portfolio manager. The latter is a newly created role, in which Sillis will provide advice and support to fiduciary and advisory clients. He has over 20 years’ experience in financial services and joins Cardano from Barings, where he led research across rates, currency, credit and multi-asset investment sectors.Barr will join Cardano in early July, having most recently been at Coal Pension Trustees Services. His background is as an economist. Franklin Templeton – The asset manager has named Louise Evans as head of asset management for Franklin Real Asset Advisors (FRAA). Based in London, Evans joined the firm in March 2020 and reports to Riccardo Abello, director and portfolio manager for FRAA, Franklin Templeton’s dedicated global real asset investment platform, led by Raymond Jacobs, managing director.Evans will be responsible for the asset management of FRAA’s European portfolios, supporting the strategy within the social infrastructure and traditional real estate sectors, and will work closely with the acquisition team supporting the underwriting and due diligence of new investments.In addition, Evans will actively drive investment performance of existing properties by implementing asset level business plans, environmental and social sustainability policies, as well as sales and marketing strategies.Society of Pension Professionals (SPP) – The representative body for providers of advice and services to work-based pension schemes and to their sponsors, has elected James Riley as the next society president. The two-year term takes effect from 1 June 2020.Riley succeeds Paul McGlone, partner at Aon, who has been president since 1 June 2018. Over the last two years, McGlone has led SPP through a period of significant change both within the pensions industry and within the organisation itself.This has included the creation of a new CEO role and in March this year, the SPP announced Fred Emden as its first CEO.Riley is a partner at Isio, which was formerly KPMG’s UK Pensions Advisory Practice. He is an experienced actuary providing strategic advice to sponsors and trustees on the financial management of some of the UK’s largest pension plans.AXA Investment Managers (AXA IM) – The asset manager has appointed Mark Hargraves as global head of Framlington Equities, based in London. As part of his new role, he will continue to maintain his current portfolio management responsibilities.Hargraves takes over the role from Matthew Lovatt, who has been appointed global head of client group, core. He will report to Hans Stoter, global head of AXA IM core.Isabelle de Gavoty has been appointed deputy head of Framlington Equities. As part of her new role, she will continue to maintain her current portfolio management responsibilities. Based in Paris, she will report to Hargraves.Framlington Equities is AXA IM’s active, long-term, conviction-based equities business focused on aiming to deliver consistent excess returns through active, fundamental, bottom-up stock selection.Tabula Investment Management – The specialist fixed income ETF provider has appointed Franco Mancini to Italian speaking coverage, which includes targeting a broad range of institutional investors in Italy and Lugano.Before joining Tabula, Mancini was responsible for business development at Redhedge Asset Management.last_img read more

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Asset owner-steered project delivers blueprint for net-zero investing

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first_imgThe results of this analysis will be launched with the final framework, which is expected to be out before the end of this year.“Setting a long-term net zero target is the easy part, the challenge is to have a credible and transparent framework that enables your fund to convert intent into practical decisions and action,” said Adam Matthews, director of ethics and engagement at the Church of England Pensions Board and co-chair of the PAII.Speaking to IPE, he said those involved felt the framework was “a hugely important piece of work”.Claudia Kruse, managing director, global responsible investment and governance at APG Asset Management, which co-chairs the PAII, said the Net-Zero Investment Framework needed to be established as a global industry standard.Primary objective: real-world decarbonisationThe framework covers four different asset classes – sovereign bonds, listed equities, corporate bonds and real estate – with infrastructure and private equity to be added in a second phase.It identifies five components of an effective net-zero investment strategy – objectives and targets, strategic asset allocation and asset class alignment, policy advocacy, investor engagement activity, and governance – and recommends a comprehensive set of actions, metrics and methodologies. “The framework overcomes limitations of other approaches that leave room for investors to technically meet targets while selling the problem to someone else”More than 25 different methodologies and tools were assessed in the development of the framework, with those considered best fit approaches included.The PAII followed five key principles to guide its work, and to assess methodologies and test conclusions: impact, rigour, practicality, accessibility, and accountability.According to the IIGCC, the focus on driving real-world decarbonisation “overcomes limitations of other approaches that leave room for investors to technically meet targets while selling the problem to someone else”.“This falls short in delivering additional meaningful long-term emission reductions,” it said.Vicki Bakhshi, director in the responsible investment team at BMO Global Asset Management, was involved in the PAII working group on listed equities and corporate fixed income and said that although there were many climate change-related initiatives and methodologies in the market, the PAII framework was the first to bring these together.“It’s a way of piecing all that together for a much more comprehensive strategy across asset classes,” she said.Tools that the framework leans on include the Transition Pathway Initiative and the EU’s “taxonomy” of environmentally sustainable economic activities, which the framework says should be used, to the extent possible, as the basis for targets for allocation to climate solutions.‘No excuses’According to the consultation document, the intention is that once the framework is finalised, investors would adopt it on an “implement or explain” basis, to take account of specific strategies where certain elements may not be applicable.“We really encourage investors to implement the framework as soon as possible,” said Stephanie Pfeifer, CEO of the IIGCC. “There’s no excuses not to do something immediately and certainly no time to waste.”The IIGCC is asking for feedback on the framework by 25 September.It is also launching a second phase of PAII work, aimed at expanding the framework to include infrastructure and private equity, and to address technical issues, such as identifying and measuring material Scope 3 emissions and assessing the potential for methodologies that capture relative impact of climate solutions investment.Besides APG and Church of England Pensions Board, the PAII steering committee include representatives of AP2, Brunel Pension Partnership, LGPS Central, Lloyds Banking Group Pensions Trustees, PKA and TPT Retirement Solutions.The PAII consultation document can be found here. A major collaborative process overseen by some of Europe’s best-known pension investors has produced a framework aimed at enabling asset owners and asset managers to maximise the contribution they can make to keeping global warming to 1.5°C.Published today for consultation, the Net-Zero Investment Framework is the first output of the Paris-Aligned Investment Initiative (PAII), which was established in 2019 by the Institutional Investors Group on Climate Change (IIGCC) at the request of European asset owners who felt that a comprehensive approach to help investors take action in support of the Paris Agreement was missing.More than 70 investor members of the IIGCC contributed to the PAII-produced framework across different working groups, and input from a wide range of stakeholders is being sought to help validate and strengthen the proposed framework.APG, Brunel Pension Partnership, Church of England Pensions Board, PKA and Phoenix Group will be putting the framework to the test across their portfolios, including with a view to assessing the financial implications. Source: European ParliamentParis Agreement signing ceremony in the European ParliamentLooking for IPE’s latest magazine? Read the digital edition here.last_img read more

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Infrastructure the key to city’s future

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first_imgONE of the country’s leading property analysts says it’s indisputable that infrastructure spending will lead to Townsville’s property market recovering.Hotspotting founder Terry Ryder is tipping Townsville will be the next Sunshine Coast as billions in projects leads to population growth and an increase in demand for housing.He will be in Townsville on November 9 to speak at the Urban Development Institute of Australia’s Heads Up: Hot Property Townsville.Mr Ryder said he was positive about Townsville’s future despite prices not yet stabilising.“The only other regional city in Australia with as much infrastructure and property development in the pipeline would be the Sunshine Coast,” he said.“You are going to see growth because you can’t possibly have that level of infrastructure investment without the property market responding.“When you look at the full list of projects they won’t all go ahead but if so much as even half of it happen it will be massive for Townsville.“If you look at the current numbers of Townsville’s property market they’re not particularly flattering figures and property prices have gone backwards but we’re always looking to the future and right now we think Townsville is a very good buy so that’s where the smart investors will be buying.”Mr Ryder said the Sunshine Coast was a prime example of the impact infrastructure investment can have on a regional city’s property market.The Sunshine Coats is being heralded as the hottest place to invest by real estate heavy weights such as John McGrath.The region is experiencing an infrastructure boom with billions of dollars being invested in upgrading and creating new facilities.Mr Ryder said the raft of projects would result in people being lured to Townsville for work and while some will only stay for a short time, others will make a permanent move due to the lifestyle and climate which would in turn increase demand for housing.“What we know to be true from our many years of research is that infrastructure spending is one of the most pivotal things in driving residential property markets,” he said.“It creates a lot of economic activity and out of that comes jobs.“When people are getting employment they then start to think about where they are going to live whether that be renting or buying.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“It will invariably boost the property market.”Mr Ryder will be joined at Heads Up: Property Townsville by Propertyology founder Simon Pressley.UDIA CEO Kirsty Chessher-Brown-Brown said the industry event was a great opportunityto hear from a couple of property experts.“ Development is critical to the local economy delivering over $1.9 billion in gross regional product and creating over 15,000 direct and indirect jobs,” she said.“These jobs cost the industry $471million in wages and salaries that are taken home by localworkers.”The event will be held on November 9 from 3pm at the Townsville Brewing Co at 252 Flinders St.Tickets start at $65 got members.For more information visit www.udiaqld.com.au.last_img read more

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Charming style on show at eclectic Gold Coast house

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first_img67 Skyline Tce, Burleigh Heads, has hit the market. A stunning blend of coastal, Hamptons and French provincial styles make this Burleigh Heads house a charming and unique find.The property at 67 Skyline Tce exudes character from every nook and cranny, making it feel like home from the moment you step inside.The eclectic mix of styles are effortlessly blended throughout the renovated two-level house. The custom-designed kitchen is a highlight of the home. It will head under the hammer on May 4. The property is scheduled to go under the hammer on Saturday at 11am through Ray White Prestige Gold Coast Jackson Paradise. An open family and meals area, which flows onto a covered patio, offers plenty of space for entertaining.A media room and separate living area with a fireplace and study nook offer the perfect escape, ideal for movie marathons or a rare quiet moment away from the children.There are six bedrooms, four on the ground floor and two upstairs.The main bedroom with ensuite and walk-in wardrobes flows onto the rear deck. It has an eclectic style. The six-bedroom house uniquely blends coastal, Hamptons and French provincial styles. center_img What an entrance. More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoA large, covered rear deck is one of many spots to enjoy the 180-degree views and it connects seamlessly with the main indoor living areas. MORE NEWS: Chur bro, these are the hottest Kiwis up for grabs The custom-designed kitchen at the heart of the home is another highlight with hi-tech Gaggenau appliances, shaker cabinetry, Carrara marble benchtops, a butler’s pantry and a 1.8m Tasmanian oak butcher’s block. MORE NEWS: Unit block fetches $2.04 million at heated auction 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 estate01:59last_img read more

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$20 million development in hinterland attracts buyers

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first_imgDeveloper Unison Projects’ $20 million Seacliffs development at Suffolk Park in the Byron Bay hinterland features 34 elevated lots in the 16ha eco-friendly hinterland estateOnly three lots remain in the third and final stage of one of Byron Bay’s largest residential subdivisions, situated within a pristine rainforest only minutes from the beach.Developer Unison Projects’ $20 million Seacliffs development at Suffolk Park in the Byron Bay hinterland features 34 elevated lots in the 16ha eco-friendly hinterland estate, including some with ocean views. Only 3ha of the 16ha has been developed, with the remaining 13ha of rainforest untouched or revegetated.Unison Projects’ Jonathan Levy said the final three lots of stage three of Seacliffs were all elevated with ocean views.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“New residents will be joining a prestigious community where the quality of houses constructed has been outstanding and worthy of the premium development we wanted to create,” Mr Levy said.“The response to Seacliffs has been fantastic particularly from the local market as most of our buyers were already living in the Byron Bay region and they recognised the unique nature of the estate.“Seacliffs Byron Bay is a rainforest fringed enclave with 73 per cent of the estate maintained as a nature reserve and a wildlife corridor for native animals.“Seacliffs is where the hinterland meets the sea and it brings together the best of both worlds of beautiful Byron Bay.”McGrath’s Nick Dunn said Seacliffs appealed to a wide range of buyers including families, downsizers and locals seeking a more elevated location in Byron while staying close to the town centre and major amenities.Mr Dunn said the remaining blocks were cleared and priced from $575,000.last_img read more

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The Gold Coast suburbs at the centre of a price boom

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first_img MORE NEWS: What the Coast’s property market will look like in a decade 1. Jacobs Well, up 15 per cent to $560,0002. Paradise Point, up 15 per cent to $1,137,5003. Biggera Waters, up 15 per cent to $780,0004. Maudsland, up 12 per cent to $643,7505. Tallai, up 7 per cent to $895,0006. Palm Beach, up 6 per cent to $857,0007. Miami, up 5 per cent to $775,0008. Ormeau, up 5 per cent to $504,0009. Labrador, up five per cent to $550,00010. Broadbeach Waters, up 4 per cent to $1.15 million.(Source: realestate.com.au) Jacobs Well is one of the suburbs that has seen 15 per cent growth on its median house price in the past year.GOLD Coast house prices have been slowly climbing over the past year but some suburbs appear to be in the midst of a price boom.Latest realestate.com.au data shows median house prices in Jacobs Well ($560,000), Paradise Point ($1,137,500) and Biggera Waters ($780,000) have jumped as much as 15 per cent in the year to the end of May.While it has been a slow year for the Australian property market, industry experts say the spikes come as no surprise.Realestate.com.au chief economist Nerida Conisbee said most of the Coast’s suburbs that recorded hefty rises were under $1 million. MORE NEWS: QLD suburb tops the nation Several suburbs have seen prices surge over the past year. More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoThere have been a few big sales on the Sovereign Islands at Paradise Point recently.Increased demand as well as a rise in the number of people knocking down older homes and building new ones was what he said was bumping prices up.Harcourts Coastal agent Tim Zampech echoed Mr Mian’s comments, explaining the northern suburbs were the next best beachside areas.“Even though it’s not the surf beaches, it’s still a beachside suburb and it’s still so cheap in comparison to other suburbs on the Coast,” he said.“Some people’s budgets wouldn’t allow them to get into the more expensive suburbs, these will always be more affordable than the central suburbs.”According to the data, Maudsland had the second-highest increase with its median house price jumping 12 per cent followed by Tallai (7 per cent) and Palm Beach (6 per cent). TOP BOOM HOTPOTS “Some of them aren’t that expensive so that’s part of it,” she said.“There are people who are looking for affordability and those areas provide that.”She said with more house hunters flocking to the areas, the more likely prices would increase.An influx of young renters wanting to buy, particularly in the more affordable locations, was also contributing to the increases.“We’ve been seeing really strong rental demand on the Gold Coast for the past couple of years,” she said.“I think there’s been a lot of young people looking to these areas now they’re looking to buy.”Amir Mian, the director of his self-titled agency, compared Paradise Point to Mermaid Beach, explaining they both had similar village lifestyles with a popular cafe and restaurant scene.“It is offering what Mermaid Beach is offering,” he said. “The difference there is that it’s mostly residential … and less touristy.” 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 estate01:59last_img read more

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