BL investors unlikely to support buybacks

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Tallebudgera creekfront owners in frenzy following $2.55m sale

first_img45 Murlong Cres, Palm Beach.THE SALE of a Tallebudgera Creek shack for $2.55 million last month has put the neighbourhood in a frenzy as nearby property owners look to cash in.The 602sq m block with 50m of water frontage was sold to a local Chinese buyer who plans to build a Hamptons-inspired residence on the site. Ray White Broadbeach agent Troy Fitzgerald, who took 2 Elanora Drive, Burleigh Heads, to auction, has fielded several calls from homeowners keen to take advantage of a red-hot market.“Everyone is realising how good it is down there,” Mr Fitzgerald said.“The water is always nice and it’s calm, and flat. It’s popular for stand-up paddle boarding and it’s a bit more family-friendly than the ocean.”The impressive result prompted homeowners Ursula and Ben Watts to take their three-bedroom house at 45 Murlong Cres to auction on March 18. 26 Murlong Cres, Palm Beach.Another Murlong Cres property is set to go under the hammer on March 4.McGrath Coolangatta/Tweed Heads agent Tony Holland said the Elanora Drive auction had put creek properties on the map.“Murlong Cres is very tightly-held and I think people are recognising that these opportunities don’t come up that often,” Mr Holland said.“This house could be bought to live in, renovated or demolished and a new home could be built.”The four-bedroom house at 26 Murlong Cres is on a north facing 556sq m block.The highest sale on Murlong Cres is $1.8 million in November, 2016 for number 30.Tallebudgera Creek divides Burleigh Heads and Palm Beach.Median house prices in both suburbs have increased by more than 30 per cent over five years.Corelogic data reveals the median house price in Burleigh Heads is $725,000 while in Palm Beach it is $706,000. 45 Murlong Cres, Palm Beach.Ms Watts said the Elanora Drive sale set a new benchmark for properties along Tallebudgera Creek.“The area is finally getting the attention it deserves,” she said. “The auction was just awesome resulting in a great outcome” she said.The pair, who own Bam Bam Bakehouse and Paddock Bakery, bought the property in 2015 and have installed a new kitchen, bathroom and deck.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North11 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“Murlong Cres is the Hedges Ave of Palm Beach,” Ms Watts said.“From our home you can launch your paddle boards into crystal clear bright blue water right at your front doorstep — doesn’t get much better than that.”last_img read more

Local Economist supports decision to increase retirement age and contribution rate

first_imgLocal Economist McCarthy Marie said he is supporting a decision by the Dominica Social Security to increase the retirement age from 60-65 and to increase the contribution rate as well.The DSS said it will go ahead with recommendations in an actuary report to increase the retirement age and contribution rate.Marie said the move is not only timely, but it will benefit the institution and pensioners as well.“It’s all in an effort to maintain the DSS. Given the fact that the conditions are already as they are, we have to say that it’s the entire society who will benefit. Otherwise, those who are 40 and 50 who will retire in ten, twenty years time is at risk,” he said.Marie said if steps are not taken, there’s a possibility than many persons will lose out.“People who will lose are those who are 50 and 55 who were expecting to draw their pension at 60, would now have to wait a couple of years more,” he said.The DSS is currently holding sensitization programs around the country on the issue and have indicated that the move is imminent. Dominica Vibes News LocalNews Local Economist supports decision to increase retirement age and contribution rate by: – September 19, 2011 10 Views   no discussions Share Tweetcenter_img Share Sharing is caring! Sharelast_img read more