Klijnsma promises plans for new Dutch pensions system within year

first_imgJetta Klijnsma, state secretary for the Dutch Ministry of Social Affairs, has vowed to put together concrete proposals for a new and sustainable pensions system within a year. Speaking at a trustee seminar organised by regulator DNB, she said she aimed to flesh out the current proposal on the contours of a new system within the current Cabinet period, which expires in September 2016.Klijnsma also said she planned to table her Bill, which will allow variable benefits following a defined contribution (DC) pension plan, before this Christmas.At present, participants in DC plans must buy fixed annuities at retirement, which leads to low benefits as a consequence of low interest rates. Helma Lodders, MP for the liberal party VVD, tabled initiative legislation with the same purpose in July.During the seminar, Klijnsma suggested the new ‘general’ pension fund (APF) would come into force on 1 January 2016 only if the Cabinet received a “cheerful” response from the Council of State (RvS) about changes to her Bill.The RvS is looking into an amendment – tabled by MPs and supported by the Lower House – that would allow industry-wide schemes merging via an APF to keep their assets ring-fenced. However, the Cabinet has advised against the proposed changes, as it fears they would undermine mandatory involvement in industry-wide schemes. Klijnsma said the abolition of average pension contribution and accrual – effective from 2020 – would commence with the phasing in of age-based accrual, adding that the average premium approach would remain in place for the time being. Speaking at the same event, Frank Elderson, DNB director for the supervision of pension funds, conceded that trust in the pensions sector had not yet been restored in the Netherlands.He said schemes’ boards could help turn the tide by making “sustainable” choices, taking action themselves and telling their participants the “full and honest story”.He also warned boards against testing their limits, using the whole of their financial buffers or informing participants “selectively”.last_img read more

Pension fund for Dutch tyre industry drops Syntrus Achmea

first_img“As a consequence of this, new participants did not receive their start letter within the required term of three months,” he said.Last year, the pension fund paid Syntrus Achmea approximately €1m for its services.The company argued that problems with the new administration system dated from 2014 and said the issues had been resolved in the meantime. In November 2015, the €2bn pension fund for confectioners voiced similar complaints about Syntrus Achmea, claiming that the new administration system had caused considerable delays.At the time, the company said it had given precedence to correctness over timeliness.In 2012, it introduced a new system that linked companies’ salary administration directly with its pensions administration.At the time, it said the “new standard” would allow employers to inform both the Inland Revenue and the pension fund with the single push of a button.Syntrus Achmea is not the only pensions provider to come under pressure from clients of late.Last year, the large metal schemes PME and PMT, as well as the pension fund for the merchant navy (Koopvaardij), criticised their own provider and asset manager MN.They complained about problems with the calculation of benefits and communication with pensioners, as well as about the “too late and too slow” implementation of the improvement programme. Banden en Wielen, the €526m pension fund for the Dutch wheel and tyre sector, has dropped Syntrus Achmea, citing a number of complaints over the administration provided by the company. The pension fund switched to pensions provider and NN Group subsidiary AZL since its contract with Syntrus Achmea expired at the end of last year.The pension funds for Dutch confectioners (Zoetwaren), the retail sector (Detailhandel) and the recreation industry (Recreatie) have also dropped Syntrus Achmea in the recent past.Dutch news daily De Telegraaf quoted Ruud Spuijbroek, secretary for Banden en Wielen, as saying that the introduction of a new administration system at Syntrus Achmea last year “utterly failed”.last_img read more

Dutch cabinet seeks greater supervision for large company schemes

first_imgClarifying the €1bn lower limit, the cabinet said it wanted to keep the administrative burden down for smaller company pension funds, which have a less complex decision-making process.It added that fully reinsured schemes would also be allowed to keep their visitation committee, rather than employ a permanent committee.The measure is meant to come into force as of 1 July 2017.Commenting on the proposals, supervisor De Nederlandsche Bank (DNB) made clear that it would have preferred that all visitation committees would disappear, “as small pension funds in particular are struggling with an increasingly complex environment”.DNB said it disagreed with the cabinet’s suggestion that complexity and risks are less for small schemes.The association for internal supervisors (VITP) made clear that it felt it hadn’t been taken seriously by the government.Nelly Altenburg, chair of the lobbying organisation, said it had recently called on Jetta Klijnsma, state secretary for Social Affairs, to keep the visitation, and even extend the deployment of the committees to the large sector pension funds.“We had expected an evaluation, but now it is being scrapped without any respect to content,” she added.In the opinion of the VITP, a visitation would be in many cases an excellent way of supervision, and would include the advantage of a “view from outside”.It also said the cabinet had overestimated the costs of supervision and underestimated the costs of a supervisory board.According to the VITP, the annual costs of an RvT are between €30,000 and €40,000, instead of the government’s estimate of €27,000.The Pensions Federation, for its turn, said it would have preferred an evaluation of the proposals as well.“But as the Dutch Senate wanted to abolish all visitation committees, the current cabinet’s proposals are a compromise,” said a spokesman.When asked for a comment, the Ministry of Social Affairs confirmed that it would carry out an evaluation this year.Recently, the company schemes ING CDC (€500m) and NN CDC (€200m) announced that they would replace their visitation committee with an RvT. The Dutch cabinet wants to make it mandatory for larger company pension funds to have permanent internal supervision, rather than an annual check by a ‘visitation’ committee.This would bring them in line with large sector schemes such as ABP and PFZW, according to the bill, which comprises a collection of proposals for new pensions legislation.The supervision proposal was aimed at approximately 30 company schemes, each with assets of more than €1bn.Industry-wide pension funds have had permanent internal supervision – either through a supervisory board (RvT) or through a one-tier board – since 2014.last_img read more

UK public schemes name chair of £25bn Brunel partnership

first_imgA collaboration of 10 UK local government pension schemes (LGPS) has appointed Denise Le Gal as independent chair.Le Gal – currently chair of the £2.8bn (€3.3bn) pension fund for Surrey County Council – will lead the board of the collaboration, known as the Brunel Pension Partnership.As well as chairing the Surrey pension fund, Le Gal is a trustee of JP Morgan’s UK pension fund and chair of the pensions committee of the Local Government Association. She also acts as county councils representative for the LGPS’ Scheme Advisory Board and is vice-chairman of the Local Authority Pension Fund Forum.In a statement, Brunel said one of Le Gal’s first tasks would be to recruit non-executive directors. These hires would help her implement Brunel’s “strategy, shape, and direction”. John Beesley, chair of the Dorset Pension Fund, said Le Gal’s “knowledge, enthusiasm and will to succeed will be a tremendous asset in shaping the Brunel Company”.Beesley is chair of the “shadow oversight board”, overseeing the initial development of the Brunel project.Brunel has been set up as one of the eight LGPS pools that have emerged following the UK government’s drive for improved scale across local government funds. It is expected to cover roughly £25bn of assets for 10 LPGS funds, comprising Avon, Buckinghamshire, Cornwall, Devon, Dorset, Gloucestershire, Oxfordshire, Somerset, and Wiltshire, as well as the Environment Agency Pension Fund.Last summer the Brunel schemes set out a plan to pool assets into 22 portfolios. This was projected to save £13m a year by 2021.last_img read more

PKA splits alternatives business, opens door to co-investors

first_imgDanish pension fund PKA is splitting its alternatives investment arm into two businesses and inviting co-investments.The labour market pension provider for the healthcare sector said it would restructure PKA Alternative Investment Partners (PKA AIP) into two separate firms: AIP Private Funds, which would take on the subsidiary’s private equity and infrastructure funds, and AIP Infrastructure, which would run direct infrastructure investments.Michael Nellemann Pedersen, CIO of the DKK275bn (€36.9bn) pension provider, said: “The two investment fields are different in several different areas – both regarding market dynamics and the different kinds of requirements they have in terms of staff profiles and skills.”As part of the strategic move, Anette Eberhard has been appointed as chief executive and managing partner of PKA AIP Private Funds. She starts her new role on 1 October when she leaves her current job as CEO of the Danish export credit agency EKF. Anette Eberhard“With the establishment of the new structure, the appointments of Anette Eberhard and Kasper Hansen… the foundation has been laid for PKA AIP to carry on producing great results for the benefit of PKA’s members,” he said.The new firm AIP Infrastructure will be 50% owned by PKA with the rest in the hands of its partners.The current infrastructure investment team will continue in the new company, with a focus on direct infrastructure including energy production, storage and distribution; water; transport; and telecommunications assets.Meanwhile, PKA AIP Private Funds will be 100% owned by PKA and led by Eberhard along with partners Brian Schwartz and Nishandan Ganesalingam. It will continue to focus on investments in private equity and infrastructure funds and other pooled vehicles.The private funds investment team was expected to be increased to around 10 staff, PKA said. Meanwhile, Kasper Hansen will take on the role of managing partner for AIP Infrastructure. He has worked at PKA AIP since 2016 and is in charge of direct infrastructure investments.Anders Dalhoff, managing partner at PKA AIP since it was set up in 2012, left the company in December.PKA accelerates alternatives allocationThe pension fund also announced plans to accelerate the pace of investment via its alternatives subsidiaries. It said it would invest DKK18-20bn via private funds and at least DKK10bn in direct infrastructure over the next three years.This compared with a total of just under DKK40bn that it invested via PKA AIP since 2012.Over that period, the subsidiary produced an annual return of up to 18%, PKA said.The provider said it was also starting to invite other institutional investors wanting to create a portfolio of long-term investments with an attractive risk-return profile to join the partnerships.Peter Damgaard Jensen, chief executive of PKA, said the alternatives subsidiary was a big part of the reason why PKA had achieved such good results from its alternative investments for a number of years.last_img read more

AQR’s Lasse Pedersen calls for honesty about ESG and returns

first_imgProponents of ESG investing who insist it can only be a force for good for the world and portfolios are not telling the truth and hurt rather than help their case, according to Lasse Pedersen, financial economist and principal at quantitative asset manager AQR.Pedersen spoke at an AQR conference in London, where he presented a paper showing that a responsible investor’s decision about the costs and benefits of incorporating environmental, social and corporate governance (ESG) views in their portfolio can be conceptualised by an “ESG-efficient frontier”.Responding to a question from a delegate, Pedersen, who is also a finance professor at Copenhagen Business School and NYU Stern, said: “Insisting on something that is beyond what makes economic sense and what empirical data supports actually hurts your case, because it’s not true.”“I think people know in their hearts that ESG is not always good for returns,” he added. “I think being honest about the costs and benefits is the way to win the debate and promote ESG investing”Lasse Pedersen, principal at AQR Capital Management “I think being honest about the costs and benefits is the way to win the debate and promote ESG investing,” he said.Pedersen had been asked how AQR had come to “revisit” ideas expressed by its founder Cliff Asness a couple of years ago, when, in the delegate’s words, “Cliff was getting a lot of publicity for work saying ESG may be good for the world but it’s bad for your portfolio”.Pedersen rejected the implied claim that AQR had changed its mind about ESG, saying it was “a bit of a caricature” to describe Asnesss’s argument in that way.Pedersen explained: “Our view is that if you want to integrate ESG by having a more constrained portfolio than the optimal portfolio then it is true that more constraints should theoretically be reducing your returns.”“It is also true that if the market is fully efficient and many people are ESG-motivated, then eventually that should lower returns, so we’re still saying Cliff’s point is true.”This did not mean that being ESG-motivated was the wrong thing to do, Pedersen hastened to add.“It’s important to remember that if you get to this case, then we are in a situation where because investors are ESG-motivated, they accept a lower return for these very sustainable firms.“This means sustainable firms have a lower cost of capital so good things can happen for the world.”It was also true that some ESG information is return-enhancing, and AQR had been trading on some of those return-enhancing ESG signals for more than a decade, said Pedersen.“ESG-motivated” is one of three types of investors considered in the model Pedersen presented at the conference, with the other two being “ESG-unaware” and “ESG-aware”.Coming back to Asness’s comments, Pedersen suggested the founder had been reacting to some proponents of ESG mis-representing it as something that “is wonderful for the world and always maximises your return and Sharpe ratio”.The real world is more complex, Pedersen said in a clarifying comment for IPE.‘It’s always geek stuff’In an on-stage interview later at the conference, which was a joint event with London Business School, Asness said the article he had written two years ago included what he had thought was a very “pro-ESG” argument.He told delegates that in the piece – Virtue is its Own Reward: Or, One Man’s Ceiling is Another Man’s Floor, published in May 2017 – he was trying to explain how investors help change the world when they refuse to own certain companies.“Well, it’s geek stuff, it’s always geek stuff in the end,” he said at the conference. “You want the discount rate for the projects and people doing the bad things to be higher.”To do that, however, he argued on stage and in the article, meant getting someone else to own that company by paying them through a higher expected return, i.e. a lower price.A higher expected return for companies deemed harmful was “actually good news for you if you want to change the world because it means the companies will do less evil,” Asness said.“I was a little surprised by some of the reactions to my very-pro ESG argument, I admit”Cliff Asness, founding and managing principal at AQR Capital Management“If you haven’t changed their expected return you have not changed whether they are going to pursue the same stuff,” he continued. “I was a little surprised by some of the reactions to my very-pro ESG argument, I admit. I saw this as explaining why you’re doing good and how.”According to a survey carried out for NN Investment Partners earlier this year, 52% of professional investors (290) believe that incorporating ESG factors into their investment strategies will limit their overall returns, although the surveyed investors were also willing to sacrifice returns to support ESG or responsible investing goals. On average, investors said they were prepared to forgo 2.4% a year if it meant their investments had a positive, non-financial, impact.An experiment carried out in the US by the University of Cambridge Institute for Sustainability Leadership found that when given certain information consumers were willing to give up returns of up to 2-3% to put their money into sustainable investments. ESG constraints could reduce the Sharpe ratio – a measure of risk-adjusted performance – when the investor had another objective, but some ESG information could be good for returns.last_img read more

Why this Gold Coast mega mansion keeps changing hands

first_imgRELATED: Top three properties going to auction Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 50 Admiralty Drive, Paradise Waters.“This is the fourth time we have sold this property in the past 10 years and this is the highest sale price that has been achieved … which signals the strong current buyer demand for well positioned Gold Coast properties.”He said the high turnover could be attributed to the fact that none of the owners in the past decade have lived in the property.“Most of the people that have owned it in the past have been interstate people using it as a holiday home,” he said.Mr Rollington said they were still seeing strong demand from interstate-based house hunters, with the last few properties they had sold in Paradise Waters being snapped up by buyers wanting to relocate or invest in a holiday home on the Gold Coast. He said it was the property’s position that attracted house hunters.“You’re right on the main river and you get the city skyline looking back at Surfers,” Mr Rollington said. 50 Admiralty Drive, Paradise Waters.More from news02:37International architect Desmond Brooks selling luxury beach villa14 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“The property was sold within 3 months of listing to a buyer sourced from our database,” Mr Rollington said.“Several offers were received during the sale campaign and strong interest was received from local and a number of Sydney and Melbourne buyers looking for a Gold Coast base or to relocate.”RELATED: Inside The Block’s hottest unitcenter_img 50 Admiralty Drive, Paradise Waters. 50 Admiralty Drive, Paradise Waters. 50 Admiralty Drive, Paradise Waters.A RIVERFRONT mansion has changed hands in a multimillion-dollar deal that marks one of the highest sales this week.The $5.2 million sale of the Surfers Paradise residence on Admiralty Drive settled on Monday.First National Real Estate Surfers Paradise agent Russell Rollington marketed the property with colleague Bob Rollington.He said an interstate buyer snapped the five-bedroom, seven-bathroom property up earlier this month.last_img read more

How to choose a home design

first_imgIf you are building to a budget, be clear with your builder, to ensure the correct required level of finishes are applied to your design. Appliances, fixtures, fittings, hardware, floor and wall finishes, the many different choices surrounding these items can alter your budget considerably. Be clear with your builder which of these items you would like to spend more or less on, to steer your building quotation to suit your budget. ■ Consider the natural weather conditions Do some research on the different land locations, and what the positives are for your top choices. Every land site location is unique. It is important for your house design to work with, not against, your surroundings. Be open about your lifestyle requirements with your builder, and allow them to suggest suitable land options.More 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 2020 ■ What do you look for in a home? It is essential to decide what your house and land total spend budget is before you go shopping, so make sure you have a discussion with your bank.The shopping process is much easier when you know what your lending capability is. A lot of new home buyers go into the market thinking they have a low budget.After discussing finance with their bank or lending team, many learn they can afford to spend a little more on their home. This enables you to get what you need out of your purchase.Knowing your budget lets you have an honest discussion with your builder, to get the most suitable house and land options available, saving you huge amounts of shopping time. ■ Where would you like to live? Joel Hewitson at his display home at North Shore. Picture: Evan MorganCHOOSING a home design can be one of the most confusing aspects of building a home. Hewitson Homes managing director Joel Hewitson shares his top tips for how to get it right. ■ What is your overall budget?center_img This is a very important step to consider before shopping for or custom designing a home.How many people are to live in your home now? How many people are to live in your home in the future? What are the ages of the residents of the home? Do you require your home to adapt to your changing lifestyle, perhaps ageing residents with adaptable needs? All above considerations will determine the design elements important to you. ■ Consider the different level of finishes available If you would like to avoid airconditioning the home wherever possible, consider how you can cool the home best naturally. If you would like to spend a large amount of time on your patio, alfresco etc, consider the position of these design elements in relation to the sun and breezes. Give thought to window sizes and positions. Will the home be naturally lit to all required zones of your design?last_img read more

Soak up the best of your outdoor area in style

first_imgVictoria + Albert Napoli bath. Photo: Jim Bartsch Photography .The installation of indoor bathtubs is determined by your bathroom’s dimensions and space, however outdoor baths are less limited and can create a luxurious statement. Free-standing baths give you the opportunity to create a real spa-like haven, adding in personal touches to create an area fit for your needs.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoVictoria + Albert Baths marketing director Jonathan Carter said installing a free-standing bath outside could instantly create a sense of indulgence in your own backyard and was the perfect way to pamper yourself during the hot summer season.“Whether your outdoor alfresco area is inspired by a tropical day-spa or a modern luxurious hotel, you can easily immerse yourself in a cool tub and enjoy the outdoors, even in the Australian heat,” Mr Carter said. Napoli – Beauparlant Design, Victoria + Albert Baths. Photo: SUPPLIED Barcelona Bath – Richard Best Architecture – James Porchen photography. Baths by Victoria + AlbertThere’s nothing better than coming home to an outdoor oasis and one which features a welcoming bathtub. Gaining popularity around Queensland homes, outdoor bathing allows you to escape the heat and provides the chance to create the perfect summer haven, right in the comfort of your own home. center_img Victoria + Albert’s Napoli bath, Photo: El Questro Homestead. Free-standing baths are a great alternative to a pool if your backyard has limited space.Mr Carter said surrounding the bath with plants and natural materials created the feeling of a secluded haven.“Victoria + Albert’s free-standing baths are made of a unique material called quarrycast – a composite of volcanic limestone and resins”, he said. “They’re ideal for outdoor installations – not only are they UV resistant, meaning they won’t go yellow in the sun, but the material is resistant to thermal shock cycles, which means there’s no risk of cracking between the seasons.”Victoria + Albert products are available in showrooms at Bowen Hills, Woolloongabba and Bardon.Visit vandabaths.comlast_img read more

Affordable havens: The sub $300,000 suburbs on the verge of extinction in Brisbane

first_imgRiverview resident Telita Webb with two of her children, Margaret (5) and MJ (7). Picture: AAP/David Clark.SUBURBS with a median house price of $300,000 or less are on the verge of extinction across Brisbane.Figures from property researcher CoreLogic show house prices in some of the city’s most affordable postcodes experienced above average growth over the past year, leading to a drop in sales at lower price points.Only 1.7 per cent of properties in Brisbane changed hands for less than $200,000 in 2018.In 2019, there are no longer any suburbs in the Brisbane local government area with a median house price of $300,000 or less. RELATED: Brisbane’s affordability on the rise Chris and Tiffany Campbell have owned a number of homes across Brisbane’s affordable havens. They have renovated them and sold for a profit. Picture: AAP/David Clark.Propertyology managing director Simon Pressley said Ipswich was becoming a popular location for property investors because of its affordability, solid rental yields and good infrastructure.But Mr Pressley said he was not convinced the region had the ability to create the volume of jobs required to put pressure on the local labour market and drive property prices significantly higher.“One could do worse than investing in Ipswich, however, my overall rating of the Ipswich property market is a middle-of-the-road performer for the feasible future,” Mr Pressley said.THE SUB $300,000 SUBURBS ON THE VERGE OF EXTINCTION IN 2019: price Mar 2019 12 mths to Nov 2018 5yrs Mr Kruger said that he had noticed a shift in the buyer profile in the market as a result of the banks cracking down on lending.“Predominantly, in the past, investors were snapping up these properties for their SMSF because of the good rental returns,” Mr Kruger said.“Now the banks have cracked down, that’s incentivising a market change.“It’s better for owner-occupiers now, because they have a chance to get it over investors.“But in time, obviously these prices will jump so the sooner you can get in, the better.” This two-bedroom house at 21 Sinclair St, Ellen Grove, recently sold for just $222,000.Across Greater Brisbane, there are now only 19 mainland suburbs with a median house price under $300,000, whereas there were double that number a decade ago.The last affordable havens can be found in the Ipswich suburbs of Riverview, Dinmore and One Mile, in the Logan locations of Kingston, Logan Central and Woodridge and in Caboolture South in Moreton Bay.The median house price in Greater Brisbane is now $532,000, according to CoreLogic.More than a third of sales in Brisbane during 2018 were between $400,000 and $600,000, while 7.8 per cent were at $1 million or more.CoreLogic senior analyst Cameron Kusher said that was a drastic change from the state of affairs over the past couple of decades, with the majority of sales in 1993 and 1998 coming in below $200,000.“Over time, there has been a steady climb in the share of sales across the more expensive price points,” Mr Kusher said.“While you’d expect this in the markets that have seen strong value growth such as Sydney, Melbourne and Hobart, we have also seen it across markets where value growth has been much weaker.” This house at 57 Price St, Riverview, is on the market for offers over $245,000.He is marketing a three-bedroom house at 57 Price St, Riverview, which is currently leased for $290 a week and is on the market for offers over $245,000.“That’s a good figure for an investor,” Mr Kruger said.“At that price point, for a three-bedder on a 600 sqm plus block so close to Redbank Plaza and within 5 minutes walk of sought-after schools, I definitely it’s ideal for first home buyers or young families.”More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoSingle parent Telita Webb has rented the home with three of her children for the past year, but would love to buy the property if she could afford the deposit.“I love the place; Riverview’s my home,” Ms Webb said.Chris and Tiffany Campbell live in Bundamba, which is one of greater Brisbane’s last affordable havens — just scraping in with a median house price of $292,752.The couple are renovating a turn-of-the-century Queenslander, which they recently bought for $315,000.“Bundamba has a bad wrap; I’m not sure why,” Mrs Campbell said.“The street we live in is so quiet and full of beautiful, old Queenslanders, and you can see the growth potential.“I think it is one of those places a lot of people forget about.”They sold another property last year that they had bought and renovated two years earlier in North Ipswich and made more than $100,000 in profit.we knew going into it and paying price we did in an up andcoming suburb it was going to be a good investmentcenter_img 1. Riverview Ipswich $256,787 -2.3% 13.7%2. Dinmore Ipswich $259,481 9.0% 35.2%3. One Mile Ipswich $260,181 0.0% 15.9%4. Leichhardt Ipswich $264,565 2.1% 22.5%5. Rosewood Ipswich $273,359 6.9% 19.2%6. Logan Central Logan $273,541 -3.4% 26.1%7. Woodridge Logan $274,352 -1.3% 28.1%8. Basin Pocket Ipswich $275,769 -4.6% 25.6%9. Ebbw Vale Ipswich $276,599 -6.1% 20.3%10. Kingston Logan $285,032 -2.4% 24.2%11. Goodna Ipswich $285,329 -4.1% 10.8%12. Tivoli Ipswich $292,168 -2.7% 8.6%13. Bundamba Ipswich $292,752 4% 14.4%14. North Booval Ipswich $293,058 4.6% 17.9%15. Caboolture South Moreton Bay $293,517 0.6% 16.2%16. Gailes Ipswich $293,572 0.7% 11.8%17. Churchill Ipswich $295,020 1.1% 7.2%18. East Ipswich Ipswich $297,405 13% 27.1%19. Wulkaraka Ipswich $299,733 6% 2.6%(Source: CoreLogic) Suburb Region Median house Change in median Change in median CoreLogic senior research analyst Cameron Kusher. Picture: David Clark.Mr Kusher said that even though he expected slightly more sales to occur at lower price points over the next year, he did not expect any material change in the share of sales under $200,000 — in fact they may reduce even further.Real Estate Institute of Queensland chief executive Antonia Mercorella said Brisbane still had plenty of affordable suburbs with good quality housing compared to Sydney and Melbourne.“We have so many affordable options in really high growth suburbs,” Ms Mercorella said.“They’re not going to run out tomorrow.“And many are still within a 12km to 15km radius of the city, which is pretty mind-blowing compared with Sydney and Melbourne.” REIQ CEO Antonia Mercorella. Photo: Claudia Baxter.Ms Mercorella said Brisbane’s affordable havens provided great opportunities for entry level property buyers.“Many people assume a $300,000 house must be a dump, but that’s just not the case in the southeast corner,” she said.“Low price does not mean low quality.”Nick Kruger, principal of Your Haven Realty, said there were still plenty of opportunities for first home buyers to get a foot on the property ladder in Riverview, which has the cheapest median house price in Greater Brisbane. MORE: Labor’s plan to hit Brisbane rentslast_img read more