Oversupply of property stock to blame for land value drop

first_imgMore 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 2020Eight of Townsville’s northern suburbs recorded a drop in median land value caused by a lack of sales and subsequent oversupply.While the valuation may come as a shock to sellers, Real Estate Institute of Queensland Townsville Zone Chair, Damien Keyes said the result was unsurprising and a direct result of the city’s ongoing economic downturn.“The northern corridor has had an oversupply of stock for some time now so I can’t really say I’m surprised,” he said.“At the moments it is also cheaper to buy a quality existing home with a pool for a lower price than what it would cost to build.“I also think that Yabulu has had somewhat of an impact on the area although most would have already bolted before the assessment was undertaken but again, it does take away people who would otherwise live in those areas.”Exclusive Core Logic figures released to the Townsville Bulletin this week, show a massive 18.68 per cent drop in annual property sales across the wider Townsville region.A total of 3409 properties were sold in 2014 and 3244 in 2015, 637 and 472 respectively more than last year.The Townsville’s suburbs with a drop in land values accounted for only 17.3 per cent of last year’s property sales despite comprising of one of the region’s largest development areas. Townsville from above. Photo credit: Megan MacKinnonPROPERTY experts say an oversupply of land and housing stock is to blame for a massive 4.65 per cent drop in land value across Townsville’s northern suburbs.Of the 10 Townsville suburbs named in the Valuer-General’s annual land valuation report as having reported a drop in value, eight were located in the city’s northern corridor including Burdell, Rollingstone, Shaw, Mount Low, Deeragun, Bushland Beach, Toomulla and Bohle Plains.Land valuation decline ranged from a moderate 0.8 in Bohle Plains to 10.2 in Burdell which includes prominent development area, North Shore.last_img read more

Dodgers 4, Mets 2: Ricky Nolasco digs deep for win

first_img“It’s a special group,” said shortstop Nick Punto, who blasted his second homer of the season into the right-field seats in the seventh inning. “It’s one of those teams where hopefully special things can happen. We have a lot of talent on this team.”Nolasco had pitched seven innings just once in a Dodger uniform before Monday — in his first game July 9 at Arizona.The goal for Monday’s game against the Mets was to dig down and push deeper into the game.Nolasco (9-9) pitched 6 1/3 innings, allowing two runs and seven hits with two strikeouts and two walks. He retired 11 straight batters at one point after giving up two runs and six hits in the first three innings.The biggest culprit for Nolasco’s short outings seems to be his pitch counts, something the Dodgers coaching staff was going to watch closely. Nolasco has averaged 92 pitches and 5 2/3 innings per start.On Monday, Nolasco used a more economical 93 pitches in nearly seven innings after laboring through the first three innings with 51 pitches.“The second inning wasn’t that bad. I thought he was good all night,” Mattingly said.Nolasco left with one out in the seventh and runners at first and second. Reliever Ronald Belisario allowed an infield single to Eric Young Jr. to load the bases, but struck out Juan Lagares looking for the second out.Left-hander Paco Rodriguez entered to face left-handed hitting Daniel Murphy, who was retired on a nice running catch by Yasiel Puig in right field to escape the seventh-inning jam.Kenley Jansen entered with runners at first and second in the eighth and struck out pinch-hitter Justin Turner looking to end the threat. He recorded his first four-out save since July 3 at Colorado, striking out three in 1 1/3 perfect innings for his 18th save, including Lagares to end it.“He’s been really good,” Mattingly said of Jansen. “A lot of the saves have been 1-2-3’s, even the one-run games. You always worry about a guy getting on, things like that. But he’s kept me off the stairs. It’s been good.”The Dodgers had trouble figuring out Mejia, who retired the first eight batters before Nolasco — of all players — laced a single to right-center in the third inning.Mejia did not allow a Dodgers base runner to advance into scoring position for the first five innings and also did not issue a walk.Then the Dodgers broke through in the sixth inning.Carl Crawford legged out an infield single, and Mark Ellis lofted a single to right field just barely over the outstretched arms of the second baseman, Murphy, to put runners at first and second.Adrian Gonzalez followed with a single to center field to score Crawford, and Ellis also scored on the play when Lagares’ throw to third bounced into the Dodgers’ dugout. Gonzalez was credited with one RBI, his team-leading 75th of the season. He finished with three hits.Puig followed with a booming fly ball to left field, and even the lead-footed Gonzalez was able to cruise home for a 3-2 lead.“I wouldn’t say you could feel the momentum,” Gonzalez said. “Obviously first and second, no outs, it’s a good situation with 3-4-5 coming to the plate.“I told myself to look for something up, don’t hit the ball on the ground. I was able to fight that one ball.”Punto added a solo homer in the seventh off Carlos Torres for a 4-2 lead.Nolasco said his confidence in the Dodgers’ offense never wavered.“Nobody got down on themselves,” Nolasco said. “We had some good at-bats early and finally got to him there in the sixth. This team, offensively, is going to break through sooner or later.”Mejia still wound up with a quality start, allowing three runs (two earned), with six hits, four strikeouts and no walks.The Mets had taken a 2-0 lead in the second inning when Ike Davis, Wilmer Flores, John Buck and Omar Quintanilla opened the inning with singles. Buck and Quintanilla’s hits both produced runs for New York. The Dodgers beat the New York Mets 4-2 in front of an announced Dodger Stadium crowd of 42,915, finally putting together a three-run rally in the sixth inning to give Nolasco his third straight win.“That was a good one. It happened quick,” Dodgers manager Don Mattingly said. “That guy (Mejia) was pretty good tonight. he had good stuff. They got us down. They jumped Ricky early.“But then he hung in there, and just boom, boom, boom, next thing you know we got the lead. It wasn’t pretty, but it was pretty in the end.”It was the Dodgers’ sixth straight win and boosted their record to 21-3 since the All-Star break. It also helped the Dodgers improve to 38-8 since June 22, matching the franchise’s best 46-game record set by the Brooklyn Superbas in 1899.It is the best 46-game run in baseball since the 2001 Oakland A’s went 38-8 from Aug. 2-Sept. 27. The Dodgers also maintained their 7 1/2-game lead over the Arizona Diamondbacks in the National League West. Acquiring Ricky Nolasco was intended to bolster the Dodgers’ starting rotation.Though Nolasco has certainly been effective since the Dodgers acquired him in a July 6 trade with the Miami Marlins, the Rialto native had not been going deep into games.That changed Monday.Nolasco turned in his best — and longest — performance since his Dodgers debut July 9 at Arizona, pitching into the seventh inning while giving the Dodgers a chance to solve young Mets pitcher Jenrry Mejia’s filthy cut fastball.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more