Latest news with #Fotheringham
Sydney Morning Herald
05-07-2025
- Business
- Sydney Morning Herald
The cheapest way to invest, help your kids or buy a first home
Inner Melbourne had an apartment building boom in the 2010s. Victoria reached a peak of 1.55 non-house dwellings completed per 1000 residents by the March quarter of 2017, while NSW completed 1.17 non-house dwellings per 1000 residents in the same period, ABS figures show. Richard Temlett, Charter Keck Cramer executive research director, said Melbourne's apartment market was cheaper than Sydney's because it was 'catching up'. The company's analysis of 2011 and 2021 census data found almost 82,000 occupied private one-bedroom apartments in Melbourne in 2021, up 48.7 per cent in a decade, compared with 123,000 in Sydney, up 54.9 per cent. 'Sydney has a more mature apartment market with more owner-occupiers, while Melbourne has more investors,' Temlett said. 'Sydney also has minimum apartment sizes, which means bigger and more expensive.' For Michael Fotheringham, managing director at the Australian Housing and Urban Research Institute, this is the crux of the problem. In 2002, NSW introduced apartment standards. 'Victoria was less restrictive on that,' he said, and set minimum standards only in 2017. Loading 'So we built a lot of tiny apartments that appeal to a very niche market and they have not appreciated, which is why they are available more cheaply,' he said. The issue, however, is complicated, especially in light of an affordability crisis. Before the minimum standards, some Melbourne units had issues with flammable cladding, tiny kitchens, borrowed light and poor ventilation. Last month, the Victorian government green-lit apartments in a Greensborough development that fall short of minimum space requirements to meet its ambitious housing targets. 'There are differing views on the trade-offs here: in a supply crisis, some say we should just be building something … rather than worrying about quality and livability standards,' Fotheringham said. Loading It's an issue canvassed in Abundance, a new book being well read among the federal cabinet, which argues progressives' regulation to ensure quality housing turned into a maze of red tape, leaving people worse off. Australians' enduring obsession with houses was also a problem, Fotheringham said, as it made apartments a less attractive long-term option, influencing their design. But not everyone dreams of a big house. When 31-year-old communications professional Mitchell Blincoe started looking to buy his first home, he knew it would be a one-bedroom apartment in Melbourne's inner suburbs. 'Within what I was willing to spend, one-bedroom apartments were the only option in the inner-city area,' Blincoe said. He found a one-bedroom flat in North Melbourne with courtyard and study nook. Blincoe paid $378,000, $6000 more than it sold for in August 2024. 'If I keep it forever, that's great, and if I decide to rent it out it has good rental potential, as it's close to the University of Melbourne and the city,' he said. 'I didn't buy for resale or for capital gain – my objectives were lifestyle and affordability.' Melcorp Real Estate's Mattia Pecorino, who sold Blincoe his flat, said one-bedroom apartments on the outskirts of Melbourne's CBD with 'decent space' and amenities usually cost upwards of $300,000. The 'significantly smaller' inner-city builds, mostly short-term rentals or serviced apartments, fetched about $180,000 to $260,000. 'I've sold a few of the smaller ones lately to interstate purchasers that have noticed the market has bottomed out there,' he said. 'People who purchased off the plan for high $400,000s or low $500,000s three to four years ago … are lucky if they can achieve $400,000 on resale today.'
The Age
05-07-2025
- Business
- The Age
The cheapest way to invest, help your kids or buy a first home
Inner Melbourne had an apartment building boom in the 2010s. Victoria reached a peak of 1.55 non-house dwellings completed per 1000 residents by the March quarter of 2017, while NSW completed 1.17 non-house dwellings per 1000 residents in the same period, ABS figures show. Richard Temlett, Charter Keck Cramer executive research director, said Melbourne's apartment market was cheaper than Sydney's because it was 'catching up'. The company's analysis of 2011 and 2021 census data found almost 82,000 occupied private one-bedroom apartments in Melbourne in 2021, up 48.7 per cent in a decade, compared with 123,000 in Sydney, up 54.9 per cent. 'Sydney has a more mature apartment market with more owner-occupiers, while Melbourne has more investors,' Temlett said. 'Sydney also has minimum apartment sizes, which means bigger and more expensive.' For Michael Fotheringham, managing director at the Australian Housing and Urban Research Institute, this is the crux of the problem. In 2002, NSW introduced apartment standards. 'Victoria was less restrictive on that,' he said, and set minimum standards only in 2017. Loading 'So we built a lot of tiny apartments that appeal to a very niche market and they have not appreciated, which is why they are available more cheaply,' he said. The issue, however, is complicated, especially in light of an affordability crisis. Before the minimum standards, some Melbourne units had issues with flammable cladding, tiny kitchens, borrowed light and poor ventilation. Last month, the Victorian government green-lit apartments in a Greensborough development that fall short of minimum space requirements to meet its ambitious housing targets. 'There are differing views on the trade-offs here: in a supply crisis, some say we should just be building something … rather than worrying about quality and livability standards,' Fotheringham said. Loading It's an issue canvassed in Abundance, a new book being well read among the federal cabinet, which argues progressives' regulation to ensure quality housing turned into a maze of red tape, leaving people worse off. Australians' enduring obsession with houses was also a problem, Fotheringham said, as it made apartments a less attractive long-term option, influencing their design. But not everyone dreams of a big house. When 31-year-old communications professional Mitchell Blincoe started looking to buy his first home, he knew it would be a one-bedroom apartment in Melbourne's inner suburbs. 'Within what I was willing to spend, one-bedroom apartments were the only option in the inner-city area,' Blincoe said. He found a one-bedroom flat in North Melbourne with courtyard and study nook. Blincoe paid $378,000, $6000 more than it sold for in August 2024. 'If I keep it forever, that's great, and if I decide to rent it out it has good rental potential, as it's close to the University of Melbourne and the city,' he said. 'I didn't buy for resale or for capital gain – my objectives were lifestyle and affordability.' Melcorp Real Estate's Mattia Pecorino, who sold Blincoe his flat, said one-bedroom apartments on the outskirts of Melbourne's CBD with 'decent space' and amenities usually cost upwards of $300,000. The 'significantly smaller' inner-city builds, mostly short-term rentals or serviced apartments, fetched about $180,000 to $260,000. 'I've sold a few of the smaller ones lately to interstate purchasers that have noticed the market has bottomed out there,' he said. 'People who purchased off the plan for high $400,000s or low $500,000s three to four years ago … are lucky if they can achieve $400,000 on resale today.'
Yahoo
04-06-2025
- Sport
- Yahoo
Broncos Cut Ties With Former Raiders TE After Failed Physical
Broncos Cut Ties With Former Raiders TE After Failed Physical originally appeared on Athlon Sports. The Las Vegas Raiders have had little success over the last several years, but they have still had an influx of offensive talent in recent seasons. Specifically, the tight end position has been bolstered with the additions of 2023 second-round pick Michael Mayer and 2024 first-rounder Brock Bowers. Advertisement While Mayer has been merely solid through two NFL campaigns, Bowers broke multiple records during his first year. He earned Pro Bowl honors and landed on the All-Pro First-Team during his rookie year. As a result of these two talented young players entering the fold, the team parted ways with tight end Cole Fotheringham at the end of last season. Former Las Vegas Raiders TE Cole Fotheringham (85).Lucas Peltier-Imagn Images In early May, Fotheringham landed on his feet as he signed with the Raiders' bitter AFC West rival, the Denver Broncos. There, he was set to compete for tight end reps with Evan Engram and Adam Trautman under head coach Sean Payton. However, on Tuesday, the Broncos signed undrafted free agent tight end Cade Prieskorn, who played college football at Memphis and Ole Miss. In a corresponding move, the team announced that they had released Fotheringham with an injury designation. Advertisement Fotheringham was originally added to the Raiders' roster ahead of the 2022 NFL season, but he had a hard time finding his way onto the field. He only played in two games for the Silver and Black, and caught just one pass for six yards. Now, he will look to find new life with another NFL franchise. Because head coach Pete Carroll and general manager John Spytek were not in charge when Fotheringham was released by the Raiders, perhaps a reunion could be in the cards, but earning playing time will still be a tall task in Las Vegas. Related: Raiders Veteran LB Praises North Carolina Coach Bill Belichick Related: Geno Smith Delivers Clear Maxx Crosby Statement at Raiders OTAs This story was originally reported by Athlon Sports on Jun 4, 2025, where it first appeared.
USA Today
03-06-2025
- Business
- USA Today
Broncos made 2 roster moves Tuesday (meet their new tight end)
Broncos made 2 roster moves Tuesday (meet their new tight end) Orchard Lake St. Mary's (Class of 2018) alum Caden Prieskorn has signed an undrafted free agent deal with the Detroit @Lions! Here's a throwback to Caden leading OLSM at quarterback in the 2016 Division 3 Football Final.@cpkorn12 — STATE CHAMPS! Michigan (@statechampsmich) April 28, 2025 With the second week of organized team activities kicking off, the Denver Broncos made a pair of roster moves on Tuesday. First, Denver waived tight end Cole Fotheringham with an injury designation, the team announced. Fotheringham, 27, joined the team last month after a successful tryout at rookie minicamp. He'll now head to the waiver wire. Second, the Broncos filled Fotheringham's former spot on the 90-man offseason roster by signing free agent tight end Caden Prieskorn, who went undrafted in April and originally signed with the Detroit Lions. Following a four-day minicamp stint in Detroit last month, Prieskorn will now get an opportunity in Denver. Prieskorn (6-6, 246 pounds) spent four seasons at Memphis and then transferred to Ole Miss, where he played from 2023-2024. He totaled 57 receptions for 850 yards and seven touchdowns in 23 games with the Rebels. He will join a Broncos tight end room that includes Evan Engram, Adam Trautman, Nate Adkins, Lucas Krull and fellow rookie Caleb Lohner. Related: These 25 celebrities are Broncos fans.
The Courier
10-05-2025
- Business
- The Courier
VIDEO: Angus provosts past and present clash over £32k salary
The new Provost of Angus has been embroiled in his first political scrap with a predecessor over a £5,000 pay rise. Monifieth Conservative Craig Fotheringham was voted into the role as a coalition administration appointed its top figures this week. It followed last month's successful vote of no confidence in the previous SNP ruling group by a Conservative/Independent/Labour alliance. However, a special meeting of the full council to decide key posts turned into a seven-hour marathon. It was peppered with political bickering. The low point was a row over claims of 'gerrymandering' by the new administration regarding committee changes. Council standing orders were suspended for business to continue beyond the usual three-hour limit. And at 7pm – five hours after it started – the meeting was adjourned for an hour as Forfar's VE Day 80th anniversary commemoration was held outside the Town and County Hall. When it resumed, Monifieth Conservative councillor Mr Fotheringham clashed with former Provost Brian Boyd. It came as elected member salaries were agreed – including the Provost's remuneration of £32,540. Councillors' pay was recently increased following a national review, including a £50,000-a-year wage for new Angus leader George Meechan. Mr Boyd told Mr Fotheringham: 'I do note you have actually increased your salary by £5,000. 'When I was the Provost of Angus, I took a normal convenership role because I wanted to look after the people of Angus. 'And as I said once before, I managed to get the expenses down to £858, whereas under your watch they were up at £17,000.' Mr Fotheringham interjected: 'Right, that's enough, that's quite enough, that's quite enough. 'The reason I think that you took less money was the previous administration appointed two deputy leaders. 'The Provost is entitled to 75% of the leader's salary.' However, he was corrected by former SNP administration leader Bill Duff and officials that there is no link between the wages of the Provost and deputy council leaders. 'Okay, my apologies, that was a misunderstanding by me,' said Mr Fotheringham. Conveners of the authority's key committees were appointed during the special meeting. Opposition councillor David Cheape secured the chairmanship of the area's planning committee after winning a cut of the cards for the development standards role against administration nominee Gavin Nicol. The committee conveners are: Family, Education and Justice – Heather Doran Civic Licensing – Ross Greig Communities – Tommy Stewart Development Standards – David Cheape Housing – Jill Scott Policy & Resources – George Meechan Scrutiny & Audit – Bill Duff
