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It is cheaper to buy than rent in some Gold Coast suburbs

first_imgThis apartment at 14/154 Musgrave Ave, Southport, is listed for rent at $430 per week.“There’s good rental return on it so it’s a good investment,” Mr Brown said.“But I’m going to live in it for a few years first.”Buyers agent Tony Coughran, of Gold Coast Property Advisors, said the key to making long term savings was to make sure mortgage repayments were affordable.“As long as you get into the market at an affordable and comfortable level, you can’t go wrong,” Mr Coughran said.“As the rents go up and the mortgage repayments stay the same, it’s bridging that gap.“Don’t look back in 20 years time and say, ‘I should’ve, could’ve, would’ve’ while our prices are tangible and affordable.” This apartment at 32103/9 Lawson St, Southport, is listed for $429,000. This home at 9 Learning St, Coomera is listed for rent at $430 per week.He said people who only planned to live on the Coast for a short time were better off renting, as well as those in a tight financial position.“If they were an investor, it’s a different scenario altogether,” Mr Newlands said.“They do need to be able to show that they have an income to show they can manage that mortgage.”While there were plenty of variables, he said in many cases it was cheaper to buy, especially with interest rates low.Eddy Brown recently bought a property at Mermaid Waters and plans to rent it out for more than his weekly mortgage repayment.He is paying $350 a week on the $387,000 property, which he said was rented out for $390 about a year ago. This home at 14 Cassia Drive, Coomera, is listed on the market for $429,000 to $469,000.More from news02:37International architect Desmond Brooks selling luxury beach villa18 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agocenter_img It’s tough finding affordable rental properties on the Gold Coast.REIQ Gold Coast zone chairman Andrew Henderson said demand for rental properties was outstripping supply, which was leading to the increase.“The rental demand has come from people migrating here, (there’s) plenty of construction work here too,” he said.Mr Henderson said stamp duty increases and more stringent requirements from banks were driving investors away, further restricting the supply of rental properties.“All of that has led to a tightening of investors getting into the market,” Mr Henderson said.REIQ’s latest Market Monitor has the Coast rental vacancy at just 1.1 per cent.Mr Henderson said buyers were better off making a purchase as soon as they could.“The sooner you do it, the better it is for your long-term financial situation,” he said.“But it depends specifically on what type of area you’re looking at.”REIQ director John Newlands said location was just one of the factors prospective buyers needed to consider before taking the plunge. It’s cheaper to rent than buy in some of the Gold Coast’s suburbs.LOW interest rates and a shortage of rental properties has made it cheaper to buy than to rent in many Gold Coast suburbs.CoreLogic data shows the median rent on the Coast is $499 while the median property value is $533,950 (units and houses).A weekly repayment on a mortgage of this value is $453, based on a 3.5 per cent interest rate and a 20 per cent deposit, a saving of $46 per week on the rental cost.last_img read more

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Pogatetz wants Hammers to stay calm

first_img Press Association The Hammers’ 2-1 defeat at struggling Aston Villa was a fourth loss in six league games and left them in 11th place, with a seven-point cushion above the relegation zone heading into the final 12 matches of the season “We shouldn’t panic. We are in a good position,” Pogatetz said on West Ham TV. Emanuel Pogatetz says West Ham must not “panic” as they look to steer clear of a battle for Barclays Premier League survival.center_img West Ham host Tottenham on February 25 before taking on both Chelsea and Manchester United next month, and the Austrian defender added: “Obviously we know we have hard games coming up, but we are up to the task. “Our performance was all right at Villa and if we can push on from that, we can put many more points on the board and achieve everything we want by the end of the season.” Manager Sam Allardyce used the break in domestic action caused by this weekend’s FA Cup ties to take the squad away for some warm-weather training in Dubai. Last season, it helped rejuvenate the squad for their end-of-season run in, which culminated in a victory over Blackpool in the npower Championship final at Wembley that secured promotion. Pogatetz, 30, can only see positives from the change in routine. “When I played in Germany for the last two years, we got a winter break and I think this is a similar break now,” he said. “The lads will enjoy the break and the warm weather. They can recover the bruises and knocks or whatever they have got and then make a fresh start next Monday when we are back. I think the group will really benefit from it.” last_img read more

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Mourinho aware of FFP demands

first_img “Every wrong move you make has an influence on the future. You need to work more closely with the board in the financial area, you have to have a different perspective and a different look at the players on loan and youth football. “It’s more global. Instead of just focusing on your team, and your targets and ambitions, it’s an overall view. It’s a different profile of job and I’m happy with that, I’m enjoying that.” The changes are certain to affect Chelsea’s usual approach to the transfer market and cast doubt on the possibility Mourinho will this summer exceed the estimated £70million he spent on players when he first arrived at Stamford Bridge in 2004. The Blues have already signed Andre Schurrle from Bayer Leverkusen for an undisclosed fee while Napoli striker Edinson Cavani, Zenit St Petersburg forward Hulk and Galatasaray playmaker Wesley Sneijder are all reported targets. Mourinho has identified regular qualification for the Champions League as one key to maintaining Chelsea’s economic stability. “We need to go back to this stability,” he added. “It’s important for the players, for the young players’ development, for the club, for the fan base and for the economic situation which is more important with Financial Fair Play. “This is what we want, me as a manager, the owner and the board. The owner and the board want stability and then after that if we are working well and working together, success comes naturally.” Jose Mourinho will embrace the new era of Financial Fair Play as a motivating factor during his second spell as Chelsea manager. Press Associationcenter_img Club accounts have been subjected to assessment for the last two years under the FFP regulations laid down by European football’s governing body UEFA, with outgoings being measured against revenues from football activities, and those wishing to participate in European competition are not permitted to make significant losses. “It’s very motivational and demands more from you. You have to think more about every decision and every move,” Mourinho told chelsea’s official website. last_img read more

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Ghana FA recieves Black Stars’ sponsorship cash from Ricemaster

first_imgThe Ghana FA has received Ghc 100,000  as sponsorship money from Ricemaster, the official meal sponsor of the Black Stars,  ahead of the Cairo Clash on November 19.The amount is for the 2013/14 season and is in fulfillment of their responsibility as the official meal sponsor of the Black Stars.The money comes at a time when the Black Stars is set to begin preparation ahead of the second-leg of the 2014 World Cup playoff clash against Egypt. The team is set to leave for the Turkish capital, Istanbul from 11th November, to begin preparations before leaving for Cairo.“We are really grateful to Ricemasters for their support for the Black Stars over the years. This money comes at a time that we are preparing for the Cairo Clash,” Ghana FA boss Kwasi Nyantakyi said at a brief presentation ceremony on Tuesday.The Black Stars will arrive in Cairo on 18 November for the match to be played at the Air Defence Stadium.The match against the Pharaohs will be played on 19 November. The Black Stars won the first-leg by 6-1 in Kumasi on 15 October. The aggregate winner qualifies for next year’s finals in Brazil.last_img read more

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PRESS STATEMENT: Ghana FA warns football clubs engaging in friendlies

first_imgIt has come to the notice of the GFA that some clubs are engaged in off-season matches without sanction by the FA which is in clear contravention of Article 6 of the GFA Regulations. To this end, we wish to request all clubs affiliated to the GFA to respect the provisions made in the Regulation with regard to off-season matches or face sanction under Article 7(3) of the Regulations. Under the circumstances thereof, the Referees Committee of the GFA is hereby directed to take note of Article 19(1) of the Regulations and also refrain from appointing Match officials for off-season matches without prior approval and consent of the FA.last_img read more