Latest news with #Smee
Otago Daily Times
2 days ago
- General
- Otago Daily Times
'Terrrible tragedy': Two men killed in plane crash
A pilot and flight examiner have died in a light plane crash that ignited a "fireball" in south-eastern Queensland. A twin turboprop Reims Cessna F406 aircraft owned by Aero Logistics crashed into a grass area at Devon Park, near Oakey, west of Toowoomba about 3pm on Sunday. Two men on board the aircraft, confirmed as an Aero Logistics pilot and an external flight examiner, died in the crash. "This is a terrible tragedy for the two people onboard the aircraft and their families, friends and workmates," Aero Logistics chief executive Ben Smee said in a statement. "They were experienced pilots and well-respected by everyone at Aero Logistics. "This is a devastating loss for everyone who knew them." Mr Smee said the company has offered its support to the families of the two men and counselling services to staff. "Safety is our first and most important priority. The cause of the accident will be thoroughly investigated for the sake of the families and the ongoing safety of our fleet," he said. Police said the crash caused the plane to burst into flames on impact. "There was a very large fireball and Queensland Fire Department did attend and extinguished the fire," Senior Sergeant Matt Forbes told reporters on Sunday. Mr Forbes said the plane crashed into a field, and the property owner heard a "loud explosion" which prompted the call to emergency services. The Australian Transport Safety Bureau said it would transport the recovered aircraft wreckage to its technical facilities in Canberra for examination. It urged anyone with video footage of the light plane, at any phase of the flight or in the immediate aftermath of the crash, to contact the agency. Aero Logistics confirmed it would fully co-operate with the investigation and has suspended all flight operations until further notice.
The Citizen
23-06-2025
- Business
- The Citizen
Tips for first-time homebuyers to get a foot on the property ladder
Tips for first-time homebuyers to get a foot on the property ladder The Western Cape remains one of South Africa's most sought-after regions for property investment, attracting strong interest from both local and international homebuyers. However, for first-time homebuyers, especially those looking at Cape Town, homeownership is a challenge as the province records the highest average purchase price. Still, data reveals that activity in the entry-level market persists, suggesting that many homebuyers are finding creative ways to get a foot on the property ladder. According to the latest oobarometer data from ooba Home Loans, the Western Cape's average purchase price in Q1 2025 was R2.33m – well above the national average of R1.66m. Yet, the province continues to draw first-time homebuyers, with the demand for property in the region showing no signs of slowing. 'We're seeing many young professionals and investors gravitating towards the Western Cape for its lifestyle, infrastructure and perceived safety, but affordability in the metro remains a challenge, especially for those trying to enter the market for the first time,' explains Grant Smee, CEO of Only Realty Property Group. Who Is Buying in the Western Cape, and Where? Lightstone data shows that 40% of the Western Cape's housing stock is priced under R750,000, and while appearing to be a more accessible price point, most of these properties can be found in smaller towns and rural areas. 'Investment properties are also in high demand, with the Western Cape recording a year-on-year increase of 0.5% to reach 12.9% in the first quarter [ooba Home Loans]. There is a growing trend of first-time homebuyers purchasing in the Boland and Overberg regions in smaller, outlying towns,' says Smee. 'These areas offer a more balanced lifestyle and slightly more accessible pricing, while still benefiting from the broader Western Cape infrastructure.' He says entry-level homebuyers investing in Cape Town's CBD are also increasingly choosing more affordable micro-apartments and sectional title units in high-density, mixed-use developments: 'These offer security and lifestyle perks like on-site retail, communal workspaces and gyms.' Attracting Foreign Investors Meanwhile, the Western Cape remains a top choice for foreign homebuyers, with its global appeal and in-demand lifestyle at comparatively more affordable prices than elsewhere. However, Smee notes they're investing in a higher price bracket. 'According to Lightstone data, the province leads in luxury price bands, with international homebuyers accounting for over 40% of purchases above R10m, around 25% in the R5m to R10m range and approximately 15% in the R3m to R5m bracket.' He adds: 'Compared to global cities, the Western Cape offers strong value. For instance, the average price of a home in one of the region's upmarket suburbs sells for around R10m. To purchase an apartment in London – with considerably less living space – homebuyers will pay upwards of R12m.' The Australian Property Investor also highlighted South Africa's comparatively low housing prices, with South Africans paying around R17,000 per square metre for a median-priced home, compared to Australia's R113,000 for the equivalent. Alternatives for First-Time Buyers Smee notes that while the Western Cape remains a strong performer in the property market, savvy buyers are increasingly exploring outlying regions that offer better value for money than central Cape Town. Areas such as the West Coast, the Garden Route, and the northern and southern suburbs present attractive alternatives. 'The Western Cape's so-called 'Zoom' towns – so-called for their remote working appeal—include Pringle Bay, Betty's Bay, Kleinmond, Malmesbury, Hermanus, and Gansbaai,' he explains. 'These areas provide easier entry points for buyers and remain within comfortable reach of Cape Town.' However, he adds that excellent opportunities exist beyond the Western Cape as well. 'Mpumalanga, for instance, is currently leading the pack when it comes to home loan applications from first-time buyers [ooba Home Loans]. Nelspruit, in particular, is booming with new estate developments that offer a secure, lock-up-and-go lifestyle, community atmosphere, and budget-friendly pricing.' Gauteng also continues to hold strong appeal. 'Popular nodes like Waterfall, Bryanston, and Hyde Park are drawing interest from buyers seeking well-established infrastructure and upscale living,' he says. Meanwhile, KwaZulu-Natal's North Coast – most notably Umhlanga, Ballito and Salt Rock – has become a magnet for investment. 'Over the past decade, this region has experienced massive growth, with estate developments, excellent schools, security, and community-driven living making it an increasingly worthwhile investment,' he adds. The Eastern Cape is quietly gaining momentum, too. Towns like Kenton-on-Sea and Jeffreys Bay are becoming hotspots for short-term rental investors, thanks to their appealing lifestyle offerings and growing popularity. 'These regions combine access to economic centres with strong lifestyle appeal, without the Cape Town price tag,' Smee explains. 'For buyers willing to expand their horizons beyond the Western Cape, there are standout opportunities, many in secure estates or fast-growing nodes. And with many of these areas doubling as holiday destinations, they open the door to 'reinvestment' opportunities, whether for short-term letting or longer-term leasing.' Practical Tips for Accessing the Market 'For homebuyers determined to get a foothold in the Western Cape property market, there are many options available,' he notes. 'This investment is well worth it too as the average growth of property in the province is around 7.4%.' He shares his top tips for those wanting to get a foot on the property ladder as follows: Enter into a joint home loan: Co-buying with a friend, partner or sibling can boost affordability and borrowing power. Co-buying with a friend, partner or sibling can boost affordability and borrowing power. Save smart and plan long-term: Set clear savings goals and budget realistically for transfer and attorney fees. Set clear savings goals and budget realistically for transfer and attorney fees. Start on the outskirts: Neighbourhoods just outside key metro areas often offer more accessible prices and are poised for growth. Neighbourhoods just outside key metro areas often offer more accessible prices and are poised for growth. Buy a fixer-upper: Properties in need of a bit of work can often be negotiated at lower prices and renovated over time. Properties in need of a bit of work can often be negotiated at lower prices and renovated over time. Buy-to-let as a stepping stone: Purchase an investment property in a growing node while renting where you live. 'The Western Cape is a great place to invest, but it could require a bit more creativity and long-term thinking for first-time homebuyers to make it work. Alternatively, if the Western Cape doesn't meet your criteria, regions like the Eastern Cape, KwaZulu-Natal and Mpumalanga have potential. It's not about compromising your goals, but rather being strategic,' says Smee. Issued by Jess Gois
The Citizen
01-05-2025
- Business
- The Citizen
From wedding bells to doorbells
The growing momentum of a global homeownership trend dubbed 'houses before spouses' has seen more young homebuyers choosing to purchase a home prior to getting married or buying jointly with a spouse or partner. This same trend has been mirrored in South Africa where, according to ooba Home Loans, the number of property purchases made with a spouse has dropped from 34% to 27% over the past decade. At the same time, the share of first-time homebuyers without dependents has increased to 64%. While some buyers still opt for joint purchases, many are turning to an alternative co-ownership model as Grant Smee, CEO of Only Realty Property Group explains: 'It's becoming increasingly apparent that, to navigate the financial challenges of homeownership, many Gen Z and millennial buyers are choosing to co-own property with friends or family, rather than relying on the financial security of a spouse.' Smee adds that first-time buyers, who are opting to purchase properties alone, are also getting older – a trend driven largely by economic uncertainty, high unemployment rates and financial instability. When it comes to 'houses before spouses' in the global context, the US leads the charge with single women owning approximately 2.72 million more homes than single men (New York Post). In the UK, solo households now make up a third of all households, according to the Urban Institute. Similarly, in Australia, the trend is gaining traction among younger generations. Houses Before Spouses Still Trending Locally – Especially in Gauteng & Amongst Women Smee notes that, for many, owning a home remains one of life's most significant achievements: 'For younger buyers, homeownership is still seen as a major aspiration – particularly in a challenging economic environment where saving for a deposit, securing a home loan, and ultimately purchasing a property are far from easy. That's why, more often than not, it takes precedence over other traditional life milestones.' Data presented by FNB indicates that buyers earning between R3,500 and R29,600 per month – referred to as the 'affordable housing segment' – are increasingly purchase homes collectively to manage high interest rates and rising costs. 'This segment saw 47% of home loans issued in Gauteng over the past four years, 18% issued in the Western Cape (despite having the highest property prices in the country overall), and 12% issued in KwaZulu Natal – as per Standard Bank's most recent data.' Women are in strong support of the 'houses before spouses' trend, with Lightstone data in July '24 reflecting that women own nearly 60% of South Africa's residential housing stock. 'Female first-time buyers now outnumber their male counterparts, with the majority being single or divorced.' Tips for Navigating the Joint Ownership Journey As the trend continues to grow in popularity, Smee believes that more millennials and Gen Zs – in particular – will choose to purchase jointly. 'Housing affordability remains a challenge and this is where joint homeownership comes in. It also helps to minimise and spread risk across the parties entering the agreement, however, buyers must understand the legal, financial and practical implications.' He unpacks these as follows: Managing Financial Risks A major risk of joint ownership is that if one owner stops contributing financially, the remaining owners must cover their share to avoid legal and financial consequences. 'This is why a well-drafted co-ownership agreement is essential,' says Smee. 'It should outline how costs are divided and establish solutions for non-payment, such as a buyout clause or forced sale options.' What Happens In the Case of Death In the event of a co-owner's death, their share does not automatically transfer to the surviving owners. 'The share becomes part of the deceased's estate and is distributed according to their will or intestate succession laws,' explains Smee. 'Meanwhile, the remaining bondholders remain jointly liable for loan repayments until the estate is settled and ownership is transferred.' Smee advises co-owners to maintain up-to-date wills to avoid legal complications. Exiting the Agreement If disputes arise over selling the property – such as one owner wanting to sell while others do not – an owner can apply to the court for an order to force a sale, known as actio communi dividundo. 'A co-owner could also attempt to sell their share without the consent of the others, which may introduce an unknown third party into the arrangement,' Smee cautions. 'A buyout agreement can help prevent such conflicts by ensuring that remaining owners have the first option to purchase the departing party's share.' If all owners agree to sell, the property is sold, and proceeds are divided according to ownership percentages. The Importance of a Co-Ownership Agreement A formal co-ownership agreement should outline: Ownership rights and obligations Procedures for selling or transferring shares Recourse for non-payment Looking ahead, Smee believes that Gen Zs in particular will change the way in which property is viewed, purchased and ultimately, used. 'While millennials have been largely responsible for driving this trend, I suspect that Gen Zs will transform the homeownership landscape in years to come. Whether it's through joint or single homeownership, we do anticipate it to be an exciting time.' Issued by Jess Gois
CBC
15-02-2025
- Business
- CBC
N.L. farmers need to up food production in face of U.S. tariff threat, says advocate
In the wake of U.S. trade war threats, advocates across Canada are pushing people to buy more local goods — and one farmer says that push should extend to Newfoundland and Labrador growing more of its own food. Mackenzie Warford, who runs the hydroponic farm Papa's Farm near Springdale, said food prices are affected by a number of external factors, including global disruptions to supply chains and international conflicts. "We pay the price. Food cost goes up, availability goes down, and the families here struggle even more to afford fresh, healthy meals. It's unacceptable," Warford told CBC Radio's The St. John's Morning Show. Warford, who is also a co-founder of the Canadian Hydroponics Association, said the costs of tariffs will ultimately be borne by consumers, and higher food prices means fewer people are able to access fresh and affordable food. "But here's the truth: we don't have to be at the mercy of the trade wars. That's why I'm pushing for local food production through hydroponics. Instead of relying on overpriced imported produce, we can grow fresh, high-quality food right here at home, year round," he said. Warford said if more food is produced in N.L., the cost of food will go down. Since the U.S. threatened tariffs on Canadian goods, many provinces, including N.L., have launched a buy local campaign to support local industries. Warford said he's heard people say they will buy local if they can afford it, but he wants to see more government support for N.L. farmers, to help produce more locally grown food. In addition, he said it's hard for some small businesses in N.L. to thrive, pointing to the Canadian Federation of Independent Business's most recent annual red tape report, which lists N.L. as the worst province to do business in. "We've got a real issue here. It's not just food security. We've got a national sovereignty issue and we need to increase food security because that is one of the core fundamentals of human life," Warford said. Vulnerable food system Food First N.L. CEO Josh Smee said the province's food security is vulnerable in the face of potential U.S. tariffs on a number of fronts. "We are coming into this as one of the more food insecure provinces in the country," he said. Approximately one in four people in the province are already food insecure, which Smee said is the highest rate in the country. "What that means, in practice, is that movements in food prices — things that push food prices up — are going to have a pretty intense impact here, particularly on lower income folks," he said. Smee said he's particularly concerned about the counter-tariffs Canada has said it will implement if the U.S. slaps tariffs on Canadian goods, saying that would drive up the cost of food coming into N.L., where a large amount of food is shipped in. From a regulatory standpoint, Smee is concerned with "unscrupulous" businesses that have raised food prices over the past few years, and worries that could get worse if the U.S. does impose tariffs. "It creates an opening for taking advantage here and pushing prices up," said Smee. Smee isn't sure the threat of rising food prices will prompt people to grow more food locally, though in the long-term, he said it is worth planning for. "But we're never going to be able to fully cut ourselves off from either the rest of Canada or the world." If Canada and the U.S. enter a trade war next month, Smee said he would like to see more income support for those who are going to be hit hardest by rising food prices. Impact Minister of Fisheries, Forestry, and Agriculture Gerry Byrne said a trade war will have an impact on Canada's food security, but he said 100 per cent of food produced in N.L., excluding seafood, is already bought by people in the province. "Our objective needs to be to produce more," said Byrne. When asked about initiatives government could bring in to encourage greater production, Byrne said N.L. already has "one of the most responsive and supportive agricultural development programs of any province anywhere in Canada." vegetable transplant program. "We have a very, very advanced supportive program and I think the Federation of Agriculture will attest to that," he said.
BBC News
12-02-2025
- Business
- BBC News
New sheltered housing schemes in Driffield and Anlaby given £7.8m
A council has been awarded £7.8m from the government to create two sheltered housing developments are set to be built in Moat Hill, Anlaby, and Deira Court, Riding of Yorkshire Council said it would spend £25.7m on demolishing existing homes and creating new one and two-bedroom flats for older people wanting to live Anne Handley, the leader of the council, said the government grant would play a "key role" in ensuring the authority "can continue to invest in its sheltered housing stock". "It's great to see the work in progress and I look forward to seeing the first new residents move into the accommodation," she and construction contracts have been awarded to Hobson and Porter, the Hull-based plans include a communal lounge for Smee, a director at Hobson and Porter, said it was a "flagship" project and he could not "wait to see it develop".The funding is from the government's Affordable Homes Programme, which gives priority to regeneration schemes and developments offering social to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
