The cash rate could fall below 2 per cent by the end of 2009, according to industry forecasts.
Loan Market Group executive director John Kolenda’s predictions that the RBA would likely lower the cash rate by 1 per cent today were correct, with further cuts to follow.
“We expect the cash rate will now go under 2 per cent this year, but the question that remains is how the RBA manages the timing of these rate cuts,” he said.
It is expected that these interest rates cuts will stimulate buyer activity. Sales manager for Niecon Developments Jo Pavlovich says, “The combination of these rate cuts in addition to the low Australian dollar has seen increased buyer enquiry from the United Kingdom, Malaysia and New Caledonia”. Niecon Developments are currently building the twin tower project “The Oracle” in Broadbeach, the largest development on the Eastern Sea Board on Australia’s Gold Coast.
Niecon Developments, Gold Coast’s premium luxury developer is giving the community a great boost by contributing to Gold Coast City Council’s affordable housing initiative.
The Developer of the $850 million twin tower Oracle project in Central Broadbeach donated $550,000 to the Gold Coast City Council as a part of its planning approvals.
Councillor Eddy Sarroff said the contribution was the latest example of the Gold Coast breaking “new ground”. This is the first time a developer has contributed to this kind of a housing program.
Niecon CEO Con Nikiforidies said the company was pleased to be contibuting to the situation in Broadbeach. Niecon has had a significant impact on development in Broadbeach and the Gold Coast over the past 30 years and continues this tradition by supporting the community with employment, growth opportunities and direct financial contributions.
The council will channel the $500,000 in to the Gold Coast Housing Company.
http://www.goldcoast.com.au/article/2009/05/16/79385_gold-coast-business.html
Grocon the builder of Niecon Development’s “The Oracle Broadbeach” luxury development set for completion in later part of 2010 is defying world trends by increasing staffing over the next year. The Company is bucking the global trend by employing more staff for its construction commitments. As the luxury twin-tower Broadbeach development is progessing, more locals are being employed. Niecon’s building company, Grocon already has over 500 staff on their 2 Gold Coast Projects and expect to have a total of 870 by the end of 2009.
http://www.goldcoast.com.au/article/2009/02/12/48285_gold-coast-business.html
Colliers International’s new research has showed that apartment values in Coolangatta and Tweed Heads have reached new heights. The report showed 3 buildings in the area achieved an average resale price of more than $1 million . 2 of these 3 buildings, both award winning ‘Reflection on the Sea’ and ‘Reflection Tower 2′ were developed by Gold Coast’s prestige apartment developer Niecon Developments. Niecon is also responsible for two major developments under construction on the Gold Coast, namely “The Oracle Broadbeach” and “Nirvana By the Sea” on Kirra Beach.
Commenting on Coolangatta, Colliers International director of project marketing Brinton Keath said the research showed how strong the fundamentals of the area were in a quieter market. “The majority of new high-rise apartment developments in the area is along the beachfront strip, which is one of the factors driving up resale values as the demand for premier positions on the beach remains strong.”
“Billions of dollars is also being poured into major infrastructure improvements in the area, further fuelling values growth.”
“Major projects include the $100 million redevelopment of the Gold Coast Airport, the $920 million extension of the rail line south to the airport, which has started with the extension to Varsity Lakes, and the $70 million expansion of Southern Cross University to a site adjoining the airport.”
If you would like to hear more about the award winning towers at Coolangatta or Niecon’s apartments please contact our sales office on 1800 681 098 or +61 7 5536 1109. Or alternatively you can email us on info@niecon.com.
30 Jan - 1 Feb 2009 at the Gold Coast Convention and Exhibition Centre across the road from The Oracle Broadbeach. After the show come over to our new display under “The Wave” Building 89 Surf Pde, Broadbeach. 2 for 1 voucher Gold Coast Food and Wine Show
Niecon Developments is offering new purchasers sensational value this January!
Option 1 - Rental Incentive for Purchasers seeking to maximize rental returns. Niecon related entity leases back apartment unit for two years at a maximum return of 7.1%. *
Option 2 - Interest Eliminator “0%” for purchaser seeking to maximize cash flow for new home purchases. Niecon related entity rebates first year’s interest expenses to a maximum of 5% of the sales price. *
Option 3 - Easy Entry Option for purchasers seeking an apartment home or investment. Niecon related entity rebates stamp duty, legal fees, body corporate fees and insurance. *
Option 4 - Unit Enhancement Option for owners seeking lifestyle upgrades or furniture packages. Apartment lifestyle enhancements and furniture allowances to 5% of purchase price.*
*Terms and Conditions apply and are available from the project sales offices. One option per apartment sale.
Incentive Start Date: 26th December 2008
Incentive Finish Date: 31st January 2009
Please contact Greg McKinnon on 0412 522 435 or Jayde Pezet on 0402 517 365 or alternatively, visit one of our sales offices.
