TRENDS – 12th August 2020
This is the first of our blogs reporting on legal and other trends in our community. I promise not to refer by name to a particular virus in this article. But there are some noticeable trends flowing from the recent disruption, and from the government response, not all of which are as predicted.
- Residential Land sales are on the move.
Writing from our Brisbane office, I am amazed at the low comparative values for residential land in Bundaberg and Bargara. In Brisbane, vacant land of 800 square metres in a good transport area can easily surpass $1 million.
New subdivisions in Bundaberg and Bargara are now selling fast and this is no real surprise to us at MRH. We are blessed to work with the best developers producing the best subdivisions which have fantastic services, infrastructure and parks, whether it be rural residential, Bundaberg communities or new developments in Bargara.
- Agricultural Land values are not just holding up, they are still rising.
Government regulation continues to grow in the areas of vegetation management, mining permits, run-off controls, carbon rights and water rights.
Despite increasing regulations and despite the Paradise Dam issue, agricultural values continue to rise in our Bundaberg district. In tough times it seems that investors look for real assets. Yes, there are some substantial issues for foreign investment, with the temporary reduction in notifiable and significant actions to $nil. And yes, the sugar industry continues to struggle. But foreign capital needs a home and Australia continues to offer the best agricultural investment opportunities in the world. At MRH we are currently involved in several very major sales to both local and overseas investors, who continue to show unprecedented interest in our region.
- Our clients are getting their affairs in order.
Many clients have used the down time from the initial shutdowns to sort out their personal affairs. It is as if we have had more time and mental space to get organised. We have seen a substantial increase in work relating to Wills, Powers of Attorney, and Advance Health Directives. Of course this could also be because we are more attuned to the fragility of life in these difficult times. The most common comment from our clients when they complete this process is that they have been meaning to sort this out for years and it was far simpler than they expected.
We make the process simple, no matter how complex your affairs may be.
Finally, many people, particularly the young, are suffering through unemployment and through loss of rites of passage as simple as a school formal or physical attendance at University. With this in mind, we have recently advertised a position for a new graduate lawyer in Brisbane as we continue to expand this office. Please see our Seek ad if you know a young law graduate who might benefit from this role, which comes with full training and mentoring.