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Miami homeowners the big winners of Gold Coast property boom

first_imgTamara and Johan Johnson in their newly built Miami villa. Photo: Steve HollandHOMEOWNERS in Miami are the big winners of the Gold Coast property boom, enjoying a 65 per cent increase in houses prices since 2012.The latest figures from CoreLogic show the suburb’s median house price has jumped from $455,000 to $752,500 in the past five years.Broadbeach Waters (up 60 per cent), Clear Island Waters (54.5 per cent), Bilinga (52 per cent), Tugun (46 per cent), Southport (42 per cent), Benowa (40 per cent) and Mermaid Waters and Hope Island (both 38 per cent) also experienced significant growth.Corelogic said 56 properties sold in Miami this year — among them a 1950s fibro shack at 58 Marine Pde for $3 million and a glitzy three-level mansion at 114 Marine Pde for $3.025 million.Tamara and Joe Johnson were lured to Miami from Palm Beach and have just completed two luxury villas at Sunshine Pde.“We are still trying to work out why it is such an underrated suburb,” Mrs Johnson said. “It’s flying under the radar when it comes to expensive beachfront property.” We originally lived at Palm Beach because we noticed it was one of those up-and-coming markets. Mermaid Beach was another hot suburb and right next to it was Miami, which was also becoming a bit of a trendy place to live.“We couldn’t work out why it wasn’t overpriced and why there were affordable blocks of beachside land. Seeing a great opportunity, we decided to jump at moving there.”Miami beach lifeREIQ Market Monitor editor Felicity Moore said the Miami price hike came on the back of factors such as the light rail, demand for beachfront property and the flow-on effect from Mermaid Beach.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North6 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“Proximity to the recently renovated Pacific Fair Shopping Centre, Bond University campus and Mermaid Beach, which is the Gold Coast’s most expensive suburb, make this suburb very attractive for owner-occupiers looking for high quality living,” Ms Moore said.“The future stage of the light rail project is forecast to include an extension to the Coolangatta airport providing direct access to Miami.”John Henderson Professional Mermaid Beach principal Andrew Henderson said the supply of homes available in Miami was limited.The couple love their bright and breezy luxury villa. Miami villa. Photo: Steve Holland“During the March quarter, only 19 homes changed hands in Miami,’’ said Mr Henderson. “Vendors are resisting the temptation to put homes on the market while prices are rising so strongly.“I would suggest this is exactly the time they should consider selling because the demand will not last forever.”Mr Henderson said he was not surprised Miami was city’s best performing suburbs over five years.“Five years ago Miami would have been considered one of the great underrated suburbs of the Gold Coast’’ he said.“It sits on the beachfront in the heart of the city, right beside Mermaid Beach, one of the most prestigious suburbs on the Coast and yet many people overlooked it as a potential suburb to call their home. This perception is has certainly changed.”last_img read more


Greece must launch DC pensions as post-crisis reforms bed in, urge actuaries

first_imgGreece should consider defined contribution (DC) pensions as part of overall retirement provision now that the foundations of its crisis-driven pensions reform have been laid, according to Greek actuaries.In a paper on the Greek pension reform strategy undertaken by the government between 2010 and 2014, Georgios Symeonidis, executive board member of the Hellenic Actuarial Authority (HAA), said this would let people organise their lives better.Symeonidis said: “It is now time for the government to distinguish between welfare and pension, to educate people on the demographic developments and the utmost importance these play on their pension income when they retire in a few decades.In the paper for presentation at the International Actuarial Association Colloquium in Oslo, he added: “Moreover, DC systems should be taken into consideration by the Greek people when allocating money for third age income as they are by many other Europeans.” This did not mean that the existing safety nets should be abolished, but rather that people should be given incentives to invest part of their third-age income into a different kind of system. “This also increases risk spreading and allows people to organise their lives in a much better way,” Symeonidis said.He said that over the last few years, Greece had come a long way towards laying the groundwork for more sustainable pensions, not only in limiting the superfluous, but also in sacrificing part of what was essential.It had been necessary for Greece to make these changes quickly to avoid bankruptcy, he said.“However, since real people lie behind the numbers, it is vital that adequacy is also guaranteed, so that the people reaching the third age are able to manage with integrity and pride,” he said.In 2010, Greece, under the pressure of mounting public debt, was forced to resort to the tripartite committee referred to as the Troika of the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF).The Troika agreed to provide Greece with financial help, on special terms recorded in a Memorandum of Understanding (MoU) between it and the Greek government.Symeonidis said the pension reform had been one of the most important reforms recorded in the MoU, because the Greek Social Security System had long showed signs of unsustainability and insolvency.He said the reforms had not yet finished, and that it was in any case impossible to reform a system in four years, when nothing had been changed for decades. “The administrative changes have been colossal and the way the social security system is now organised is light years ahead of what it was just a few years ago,” he said, noting that a full system record had now been established.“Based on these analytical data, the actuarial valuations provided by the HAA are now more detailed and involve less uncertainty and a reduced margin of error,” he said.last_img read more


13-year-old boxer Awinongya rescues paralyzed woman

first_imgUS-based Ghanaian juvenile boxer, Joseph Awinongya Jnr, has made a commitment to financially support Paulina Anokye to undergo surgery to remove a spinal tumour.Joseph saw the deteriorating condition of Paulina Anokye on YouTube on a local online magazine show dubbed “Common Sense Family” (CSF) hosted by Avram Ben Moshe. He was touched by the plight of Paulina and discussed with his dad Joseph Awinongya Snr how he can reach out to support Paulina.“I showed the video to my dad and he asked me to choose between getting a Play Station 5 which I so much desire to have and supporting Paulina with the funds” Awinongya Jnr said.“I chose to help Paulina and forget about the Play Station because her condition gradually is killing her because of money” he added.Paulina Anokye who is a native of Kwadaso a suburb of Kumasi in the Ashanti region of Ghana was diagnosed with spinal tumor at age fourteen when she started experiencing immobility in her left fingers.Due to lack of finance to correct the defect, she resorted to herbal treatment which further deteriorated her condition affecting her right arm and both legs rendering her paralysed. He has committed to supporting Paulina by paying for her medical assistance fees and an undisclosed amount for her up keep for four months after her surgery. Paulina be will admitted at the Okomfo Anokye Teaching hospital where she has been booked for surgery on 22nd of July 2020.The 13-year-old is currently rated number one and two in the 90lbs and 95lbs divisions in America has won almost all competition he has participated.He has shown a superb exhibition of boxing artistry, a rare display of boxing IQ, academic excellence and has become the toast of many in Ghana and Chicago where he lives with his family.Awinongya Jnr. also known as Jojo has won many awards since he ventured into the sport when he was five years.He is a three-time Silver Gloves National Champ, 1x USA National Champion, 2x Jr Olympic National Champion, 1x Western Elite Qualifier National Champion, 2x St Louis National Champion, 1x King of the Jungle National Champion, 2 x Wisconsin National Champion, and Power Gloves National Champion His sterling performance in and off the ring in his young career won him the Gold Star Award for Community Service by the black community in America (National Hook-UP of Black Women Inc) for being an outstanding role model in November 2019.Early this year he was admitted to The Better Chance Program, a prestigious college preparatory school in New York for excelling young talents.last_img read more