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Affordable acreage suburbs within 20km of the Brisbane CBD

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BUYERS from southern states will be tree-green with envy as we reveal Brisbane’s most affordable acreage suburbs within 20km of the CBD.

CoreLogic analysis has identified 14 suburbs where you can live on land, lots of land, for less than $1 million and still be within a half-marathon of Brisbane CBD’s Queen Street Mall.

Using an automated valuation model (AVM) it analysed the value of properties with a land area of more than 4000sq m in each suburb to assess a median value.

According to the results, the cheapest buy-in was at Eatons Hill on Brisbane’s north where you could purchase your acreage dream for just over $780,000. Eatons Hill also had a healthy six per cent capital gain in value during the past year.

Acreage priced below $800,000 could also be found in Warner and Pinjarra Hills, while Moggill, Bellbowrie, Anstead and Bunya were priced below $900,000 for rural residential.

The analysis revealed acreage property had experienced healthy long-term 10-year gains.

This would be amazing to come home to: 49 Landing Place Moggill.

This would be amazing to come home to: 49 Landing Place Moggill.Source: Supplied

CoreLogic head of research, Cameron Kusher, said tracking the price cycle of acreage markets could be challenging.

“You don’t typically see many transactions in the market and it’s a very specific buyer for that kind of property,” he said.

Mr Kusher said while buyers moving to Queensland from southern states were driving price growth for near-city housing on traditional size lots at present, acreage provided good, long-term prospects for purchasers.

“It’s never going to be a market that consistently ‘shoots the lights out’, but when the demand does turn, you can get some pretty strong increases in values over a pretty short period of time,” he said.

Ray White Rural director, Jez McNamara agreed lifestyle acreage price cycles could be a little bit difficult to track.

“It’s a very slow moving market that’s based on emotion rather than need,” he said.

“It’s very hard to do a comparative analysis as well because there’s not only different houses but different infrastructures.

“You might have some with large sheds or stables or horse complexes or beautiful gardens — it varies greatly.”

Room for a tennis court and pool at Carson Drive, Bunya.

Room for a tennis court and pool at Carson Drive, Bunya.Source:Supplied

Mr McNamara said there were opportunities for buyers to get in now and enjoy long-term benefits.

“I think the cycle is still growing — people are getting more confident to go out a bit further and get that dream home,” he said.

“You look at a New Farm house where you’re paying $1.1 million for 400sq m with a rundown Queenslander, or you can go to Camp Mountain or Chandler and buy five acres with a nice house on it. It starts to make sense for a lot of families.”

Mr McNamara said infrastructure which helped reduce commuting time would continue to benefit near-city acreage.

“Through Brookfield, Pullenvale and Fig Tree Pocket — those sorts of areas. Legacy Way tunnel has really changed that commute to Brisbane,” he said.

“I got back to New Farm from Brookfield in about 15 minutes using Legacy Way — I was shocked actually.”

Mr McNamara said as Brisbane continued to grow, so would the value of commutable acreage.

“When you can buy acreage this close to the Brisbane CBD for under $1 million — I just see nothing but upside in it,” he said.

According to realestate.com.au Moggill has the highest number of acreage properties listed on the market at the moment — 30. While there are none in the Eatons Hill area.

Originally Published: www.news.com.au

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Looking for a property to rent? Good luck finding something here

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Looking for a property to rent? Good luck finding something here

Realestate.com.au has revealed the most in-demand suburbs for rental properties. Source: ThinkStock

LOOKING for a rental property? You’ll have to move pretty quick if you want to snare one in these areas which have been identified as Queensland’s most in-demand rental suburbs.

DEMAND for rental properties in Brisbane has jumped by nearly 24 per cent in the past year, new figures from realestate.com.au reveal.

As competition for rentals heats up, the site has also identified the most sought-after suburbs to lease a property in the past six months, within 20km of the CBD.

The research shows more people want to rent a house in Brisbane’s inner north than anywhere else in the city, but the southside prevails when it comes to demand for unit rentals.

Realestate.com.au chief economist Nerida Conisbee said the site had already recorded 1.2 million searches for rentals in Brisbane in just the first two weeks of 2018.

Ms Conisbee said realestate.com.au’s rental demand index was up nearly 23.8 per cent in Brisbane compared to the same time last year.

“What that typically means is it reflects jobs growth,” she said.

“I think it’s good news for Brisbane.

“The growth in rental demand is similar to Melbourne but a lot higher than Sydney.”

Camp Hill, 6km from the CBD, tops the list for units in the city, attracting more than 820 online visits per property, followed by Holland Park.

The median weekly rent for a unit in Camp Hill is $370.

Camp Hill is the most in-demand suburb to rent units, according to realestate.com.au. Picture: Patria Jannides. Source: News Corp Australia

Camp Hill is the most in-demand suburb to rent units, according to realestate.com.au. Picture: Patria Jannides. Source: News Corp Australia

When it comes to houses, you’ll have a tough time snagging something in Fortitude Valley, with listings in the inner-city suburb receiving more than 1200 online visits in the second half of 2017.

It was followed closely by nearby Windsor, New Farm and Newmarket, which all attracted more than 1100 views per listing.

Fortitude Valley is the most in-demand suburb for houses to rent. Picture: Jono Searle. Source: News Limited

Fortitude Valley is the most in-demand suburb for houses to rent. Picture: Jono Searle. Source: News Limited

The median weekly rent for a house in Fortitude Valley is $465, but jumps to $753 in New Farm.

A quick search on realestate.com.au reveals there are not many houses for rent in Fortitude Valley, but plenty to choose from if you venture into its neighbouring suburbs.

A four-bedroom, two-bathroom cottage at 176 Arthur St, Fortitude Valley, is currently for lease for $600 a week.

In New Farm, this three-bedroom Queenslander at 585 Lower Bowen Terrace is available for $625 a week.

This house at 176 Arthur St, Fortitude Valley, is for rent. Picture: realestate.com.au. Source: Supplied

This house at 176 Arthur St, Fortitude Valley, is for rent. Picture: realestate.com.au. Source: Supplied

 

This house at 585 Lower Bowen Tce, New Farm, is available for rent. Source: Supplied

This house at 585 Lower Bowen Tce, New Farm, is available for rent. Source: Supplied

For $330 a week, you can rent a tidy, two-bedroom unit in Camp Hill, like this one at 6/25 Bundah Street.

This spacious, two-bedroom, two-bathroom unit at 827 Steele St, Holland Park, will set you back $120 more.

ISLAND GEM SELLS

Unit 6, 25 Bundah St, Camp Hill, is for rent. Picture: realestate.com.au. Source: Supplied

Unit 6, 25 Bundah St, Camp Hill, is for rent. Picture: realestate.com.au. Source: Supplied

This unit at 27 Steele St, Holland Park, is for lease. Picture: realestate.com.au. Source: Supplied

This unit at 27 Steele St, Holland Park, is for lease. Picture: realestate.com.au. Source: Supplied

Rental applications often peak in January as many renters view summer as the perfect time to find a better deal.

Ms Conisbee said most people looking to rent were often younger, which might explain the popularity of Fortitude Valley and surrounding suburbs.

“It has to do with those areas being very popular with young people,” she said.

“These areas are a lot of fun, have a good night-life, restaurants and are close to the city.”

Ms Conisbee said the high-demand areas for apartments were suburbs that did not have much apartment stock, such as Camp Hill and Holland Park.

Realestate.com.au's most in demand suburbs for renting units in Queensland. Source: The Courier-Mail

Realestate.com.au’s most in demand suburbs for renting units in Queensland. Source: The Courier-Mail

In good news for renters, vacancy rates in Brisbane rose in December from 3.4 per cent to 3.8 per cent, according to the latest figures from SQM Research.

They had tightened significantly over the past year.

But rents are also rising, with asking rents for houses up 1.1 per cent to $448 a week and units rising 0.6 per cent to $368 during the month.

SQM Research managing director Louis Christopher said it was common for vacancies to rise in December due to seasonality.

Mr Christopher said vacancy rates in all capital cities rose in December, but the rise in Sydney was larger than expected.

Realestate.com.au’s most in-demand suburbs to rent a house in Queensland. Source: The Courier-Mail

Realestate.com.au’s most in-demand suburbs to rent a house in Queensland. Source: The Courier-Mail

Originally published: news.com.au

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Seaside suburbs the star performers of southeast Queensland property market

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Seaside suburbs the star performers of southeast Queensland property market

THE lure of affordability, lifestyle and world-class beaches made southeast Queensland’s coastal markets the stars of the property sector in 2017.

THE lure of affordability, lifestyle and world-class beaches made southeast Queensland’s coastal markets the stars of the property sector in 2017, fuelled by a fresh wave of interstate migration.

While home values grew just 2.4 percent in Brisbane over the past 12 months, they jumped nearly 7 percent on the Gold Coast, while houses climbed in value by more than 7 percent on the Sunshine Coast, according to the latest data from property analytics firm CoreLogic.

Half of the top 10 property sales in Queensland last year were made on the Gold Coast; totalling $48.9 million.

And some agents say the markets are set to strengthen further in 2018 as Sydney and Melbourne homeowners cash out of their million-dollar homes in favour of a more laid-back, affordable lifestyle in the tropical north.

The REIQ’s latest Queensland Market Monitor shows the median house price in the Sunshine Coast statistical division jumped from $557,500 in June to $570,000 in September, while the Gold Coast achieved a new house price record of $606,000.

The Queensland government recently declared the number of interstaters migrating to the state was at its highest level in eight years, with 15,716 people moving here in the year to March 2017 — most coming from New South Wales.

CoreLogic senior research analyst Cameron Kusher said both the Gold Coast and Sunshine Coast property markets had benefited from that boost in interstate migration more than Brisbane.

Areas like Broadbeach Waters on the Gold Coast have experienced strong property price growth. Photo: Chris Bashall. Source: Supplied

Areas like Broadbeach Waters on the Gold Coast have experienced strong property price growth. Photo: Chris Bashall. Source: Supplied

 SQM Research managing director Louis Christopher expects both markets to outperform the state’s capital in 2018, writing in his latest Boom and Bust Report that the Gold Coast had a diversified economy and had benefited from the lead-up to the Commonwealth Games.

Ray White Surfers Paradise holds its major auction event of the year later this month to coincide with the January holiday period when many interstate and overseas visitors flock to the Gold Coast.

More than 100 properties will go under the hammer at its annual ‘The Event’ on January 28, with many holiday homes and investment properties set to sell to interstate and local investors.

This house at 80 Admiralty Dr, Surfers Paradise, is going to auction on January 28 through Ray White. Source: Supplied

This house at 80 Admiralty Dr, Surfers Paradise, is going to auction on January 28 through Ray White. Source: Supplied

Ray White Surfers Paradise chief executive Andrew Bell said the region had recorded solid sales figures in 2017 thanks to economic stability, job creation and steady population growth.

Mr Bell said the property market at the northern end of the Gold Coast had strengthened considerably because of new medium and high rise development in areas like Southport and Hope Island.

“That’s where all the new development is and it’s given people a lot more opportunity,” he said.

Mr Bell said suburbs like Coomera and Pimpama were had also become “powerhouses” for house-and-land developments, attracting demand from interstate.

“It’s not just people buying holiday homes,” he said.

“It’s just getting so difficult to live in Sydney with the cost of living and the traffic.

“People are saying ‘it’s time to move!’ and I think they’re seeing the Gold Coast as being the best it’s ever looked.”

And with vacancy rates of less than 1 per cent on the Gold Coast, Mr Bell said an increase in home construction was more than welcome.

“We can have 20 plus people turn up to an open home, so we desperately need more investors to buy some stock to help with this huge demand from tenants,” he said.

Kollosche Prestige Agents managing director Jordan Williams said the Gold Coast property market experienced periods of strength and weakness in 2017, but he predicted a bigger year in 2018.

“I know for a fact that for the last half of last year a lot of buyers were sitting on their hands reading the negative articles that said the market was going to crash,” Mr Williams said. “They’ve bought off me since then and realised its actually going to continue to improve.

“I think it’s going to be an exciting year.”

Mr Williams also said the majority of homes he sold were cash contracts, unlike the pre-GFC days.

“We have very affluent local and interstate buyers who are fourth, fifth and sixth generation wealthy,” he said.

“Our vendors who own these homes are also affluent, successful people and they don’t muck around with finance and building and pest inspections.”

Kristian and Haley Hughes are selling their five-bedroom waterfront home at 31 Pilot Court, Mermaid Waters through Kollosche Prestige Agents.

They’ve lived there for nearly three years, but have decided to sell and rent in the area so they can use the capital to fund Mrs Hughes’ new make-up venture.

This property at 31 Pilot Court, Mermaid Waters, is for sale. Source: Supplied

This property at 31 Pilot Court, Mermaid Waters, is for sale. Source: Supplied

Mrs Hughes, who runs The Institute of Makeup beauty school, said Mermaid Waters had benefited from the growth in popularity of nearby Burleigh Heads.

“I feel it’s becoming the new central location — nestled between Burleigh and Broadbeach,” she said.

The Hughes are hopeful they’ll benefit from the growth in the market over the past 12 months, with the median house price in Mermaid Waters increasing by more than 17 per cent.

The view from the home at 31 Pilot Court, Mermaid Waters. Source: Supplied

The view from the home at 31 Pilot Court, Mermaid Waters. Source: Supplied

Their family home is decked out with floor-to-ceiling glass, which captures spectacular 180 degree views.

“For someone who wants to make it their forever home, they’ll never run out of room,” she said.

“It was hard finding a place to put an offer on even then, because (homes) were selling before they even went to market.”

Further north, Noosa was the standout performer in 2017.

REIQ figures show Noosa was the state’s top performing market in the three months to September, recording annual house price growth of nearly 10 per cent.

Over the past five years, Noosa’s median house price has jumped by more than 40 per cent.

Main Beach at Noosa. Photo: Chantay Logan. Source: Supplied

Main Beach at Noosa. Photo: Chantay Logan. Source: Supplied

Tom Offermann Real Estate principal Tom Offermann said the company ended 2017 with eight sales averaging $5.9 million each.

The agency sold a sprawling waterfront home with a drive-through boatshed, two jetties and a boat ramp at 29-31 Wyuna Dr, Noosaville, for close to $11.9 million late in 2017 — setting a new record for the area.

This property at 29-31 Wyuna Dr, Noosaville, recently sold for about $11.9m. Source: Supplied

This property at 29-31 Wyuna Dr, Noosaville, recently sold for about $11.9m. Source: Supplied

“It’s not just the prestige properties that buyers are targeting,” Mr Offermann told The Courier-Mail.

“There are good opportunities for buyers at all levels who want to invest or live here.”

Another driving factor behind demand for the Gold Coast and Sunshine Coast markets is a lack of stock, but BIS Oxford Economics expects rising supply over the next three years to slow forecast price growth.

Another coastal market in Queensland that performed better than expected in 2017 was Cairns.

BIS Oxford Economics noted Cairns had benefited from improved tourism and a deficiency of dwellings, which was estimated to have pushed the median house price up by 20 per cent in the past five years.

It expects home prices to grow another five per cent until 2020.

Originally published: www.goldcoastinvestor.com.au

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Market Place

This Brisbane suburb is loved by locals, but largely unknown

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This Brisbane suburb is loved by locals, but largely unknown

IT’S a Brisbane suburb many would know by name, and quite possibly because of a famous poem which has no bearing on its locality, and yet they’d be hard-pressed to find it on a map.

Geebung on Brisbane’s northside is one of those places people tend to hear of but have no idea where it’s located.

Not even Banjo Patterson’s famous Geebung Polo Club ode is affiliated with the suburb.

Even local cafe owner Paul Edwards recounts recently ordering supplies from a business in Nundah, just a few kilometres south of his Railway Parade establishment, only for the receptionist to ask where Geebung was.

Paul Edwards, from Bite My Biscuit, admits he’d only ever driven through Geebung before moving his cafe to the suburb. Picture: Darren Cartwright

Paul Edwards, from Bite My Biscuit, admits he’d only ever driven through Geebung before moving his cafe to the suburb. Picture: Darren Cartwright

“I said ‘you’re kidding, it’s only two suburbs away’ and I had to spell it,” Mr Edwards said.

“I think it’s off everyone’s radar. Chermside is where everyone goes and it’s right next door.”

The owner of Bite My Biscuit even admits to being a little bit unsure of Geebung before he relocated his cafe from Stafford to opposite the railway station five years ago.

He took the punt to move after one of his regular customers, who lives at Geebung, mentioned a shop was available for lease.

“She said there was an empty shop here and it’s only five minutes from home, but I really didn’t know much about Geebung and I had lived in Wavell Heights for 15 years,” he said.

“I drove through but never stopped.”

But it would pay for people to make a pay a little more attention to Geebung, says Innov8 Property principal Michael Spillane.

He said even though Geebung is just 12 kilometres from the CBD and sidles more affluent suburbs, the median house-price is a mere $530,000. The highest sale for 2017 was $860,000 (Jan- Aug.).

Mr Spillane said there was so much room for growth that the suburb was prime for home renovators or even professionals looking to flip a house.

“It’s a forgotten and older suburb and some people don’t know Geebung’s locality even though they’ve heard of it,” he said.

“It’s not big geographically and it’s known to have a lower socio-economic background, but it’s perfectly placed when you think of access to Sandgate and Gympie roads, it’s not far from the airport, it has two railway stations and is extremely close to Chermside shopping centre.”

The two railway stations are Sunshine and Geebung and the latter of the two has undergone a major facelift which coincided with the opening of a $200 million rail overpass at Robinson Rd which the RACQ identified as one of Queensland’s worst traffic black spots.

The flyover on Robinson’s Rd opened in 2014 and connects Robinson East and Robinson West Roads.

Mr Edwards said the overpass had not affected his trade and was primarily for traffic passing through the area rather than heading into Geebung.

“We arrived as they were building it and the station was updated when they put in the overpass and they put in new lifts as well,” he said.

“We have a lot of young families come in and it can be extremely busy one minute. It’s like everyone moves in waves around here.”

Bite My Biscuit maybe one of the more recently established trades in Geebung but the oldest family-run business in the area, and possibly the oldest in Brisbane, is Gerns Continental Smallgoods in Buhot Rd.

The business started in 1895 after Heindrich Gerns, who emigrated from Hanover, Germany, bought 20 acres for 20 pounds.

Hendrich’s grandson Edwin Gerns, who is semi-retired and handed down the business to his son Andrew, said he’s seen a lot of changes over the decades.

“There used to just see paddocks around here but not anymore,” he said.

Gerns Continental Smallgoods and retail store sits at the rear of a block in a dead-end street at Geebung.

Edwin said his grandmother offered his father some motherly advice which he wished his dad had listened to now that Geebung is very much part of suburbia.

“In 1914 the homestead was built,” Edwin said.

“My grandmother said to my dad one day on the deck of the homestead, ‘why don’t you buy 70 acres there for 70 pounds for somewhere for the kids to play’ but he was too busy making salami.”

The exterior of the Geebung RSL. Picture: Darren Cartwright.

The exterior of the Geebung RSL. Picture: Darren Cartwright.

Within 500m of Gerns Continental Small Goods is Geebung State School while St Kevin’s Catholic Primary School is also nearby.

Mr Spillane said Geebung may only have a couple of schools but there are several respected one in the surrounding neighbourhoods which were very accessible and added to the appeal of the suburb for younger families.

Geebung’s public high school catchment area includes Aspley, Wavell Heights and Craiglea State High Schools and Earnshaw State College.

“There are a lot of schools around and you Nudgee College not that far away and neither is the Australian Catholic University at Banyo,” Mr Spillane said.

As for growth in real estate prices, Mr Spillane said the suburb had improved more than 20 per cent in the past five years and it was likely to climb at an even faster rate given the demand on properties in nearby suburbs like Chermside and Wavell Heights.

“When you think about it, you’re paying close to $500,000 for a two-bedroom unit at Chermside and yet you can buy a two or three bedroom house with land in the next suburb and it’s on a train line and Chermside isn’t.”

“And it’s quick to the city from there as well.”

Originally Published: www.couriermail.com.au

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