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Auction preview: Inner city houses perfect for first-home buyers

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Auction preview: Inner city houses perfect for first-home buyers

While the rest of south-east Queensland seems to be on holidays or at the Commonwealth Games, savvy first-home buyers could potentially pick themselves up a premium inner city Brisbane house this weekend.

Up for auction are a few starter homes in some of Brisbane’s most sought-after inner city locations, such as 17 Wakefield Street, Albion, a three-bedroom Queenslander cottage within walking distance of the train.

Set to go under the hammer at 11am this Saturday, April 7, the house represents an amazing opportunity in a suburb that often flies under the radar, according to marketing agent Hayley Jane from Place New Farm.

Auction preview: Inner city houses perfect for first-home buyersCottage cuteness: 17 Wakefield Street, Albion. Photo: Supplied

“Albion is without a doubt a suburb that people tend to forget when they’re looking for an inner city house,” Ms Jane said.

“It definitely flies under the radar but it’s all here: beautiful streets, views, character and incredible access to the CBD. You’re literally two suburbs out from the city.”

The median house price in Albion is $727,500, having grown at a steady rate of 3.9 per cent last year – but that’s all likely to change with the advent of a $750 million development set to transform the precinct surrounding Albion train station.

Auction preview: Inner city houses perfect for first-home buyers17 Wakefield Street, Albion, will go under the hammer on Saturday, April 7. Photo: Supplied

“Albion is a suburb that won’t fly under the radar for much longer, but right now it’s exceptional value considering its proximity to the CBD, valley and surrounding services,” Ms Jane said.

“And this house has so much potential for expansion – it’s on a flat 405 square metre block and the house could be doubled in size if it was lifted up.”

Ascot is not your average first-home buyer suburb, which makes this three-bedroom character home, considered to be entry level, a rare prize.

Auction preview: Inner city houses perfect for first-home buyersEntry level blue chip: 15 Butler Street, Ascot, will go to auction this Saturday, April 7. Photo: Supplied

Going to auction at 10am on Saturday, 15 Butler Street is is set on 405 square metres of blue chip real estate, only minutes from some of Brisbane’s most elite private schools and, of course, neighbouring multimillion-dollar properties.

The median house price in Ascot is $1,475,000 – Domain Group data shows house prices increased by 15.5 per cent in 2017 – so while entry-level price is out of reach for many house hunters, marketing agent Alexander Shean of Ray White Ascot said he had fielded strong interest from first-home buyers during the campaign.

“We’ve had investors through as well, as the house has been an investment property for a number of years, but mainly we’ve had a lot of interest from first-home buyers keen to get into the Ascot area,” he said.

Auction preview: Inner city houses perfect for first-home buyersThe lounge room at 15 Butler Street, Ascot. Photo: Supplied

“I’d say this is a rare opportunity. Ascot has a high proportion of prestige property, so this type of property doesn’t come up in the area very often.”

The house features three bedrooms, two bathrooms, two living areas and a single lock-up garage.

Over in Paddington, a gabled pre-war home at 58 Rockbourne Terrace will go under the hammer at 2pm.

Auction preview: Inner city houses perfect for first-home buyersPre-war charm: 58 Rockbourne Terrace, Paddington. Photo: Supplied

With four bedrooms, two bathrooms and two-street frontage, it’s liveable as is but has further room to add value, agent Ben Wakely of Urban Property Agents said.

“This has been in one family for years and it’s a much-loved family home,” he said. “I’ve had interest from first-home buyers, double-income earners with no kids and also from older people looking to downsize from a large family home.

The house is in a premium Paddington location within walking distance of Paddington Central, local cafes and schools.

Source: www.domain.com.au

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The most in-demand Brisbane suburbs for July 2018

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The most in-demand Brisbane suburbs for July 2018

Brisbane may not be the most popular Queensland location to invest into compared to other markets, but it is certainly seeing a rise in demand and in median price, according to new data.

Data from realestate.com.au’s Property Outlook – July 2018 report shows that demand in Brisbane is up 5.9 per cent year-on-year. Both houses and apartments are up, with rises of 6.7 per cent and 4.5 per cent respectively.

The report stated that offshore property searches are very active and is the most popular capital city for demand from this particular investor type.

The overall median price saw a rise of 1 per cent to $485,000, with the report noting that the timing in the cycle seems to be moving out of sync with Sydney and Melbourne, claiming “prices never increased to the same level and it remains far more affordable”.

Overall, metro Brisbane was fairly in demand and experienced positive price growth. The eastern region of Brisbane was the most in demand and saw the largest median price growth, with a rise in demand of 16.7 per cent and a median price rise of 5.7 per cent to $556,000. The next best region in demand was the inner city region, which saw demand rise to 13.7 per cent, but was the only region to experience a price growth decline by 3.1 per cent down to $628,000.

The most 10 popular suburbs in Brisbane, according to realestate.com.au, are:

Houses

  1. East Brisbane
  2. Indooroopilly
  3. Paddington
  4. Holland Park
  5. Wilston
  6. Chandler
  7. Windsor
  8. Coorparoo
  9. Newmarket
  10. Toowong

Apartments

  1. Graceville
  2. Mansfeld
  3. Tarragindi
  4. Camp Hill
  5. Red Hill
  6. Ashgrove
  7. Holland Park
  8. Tingalpa
  9. New Farm
  10. Paddington

Regional Queensland saw every single area rise in demand with the exception of the Gold Coast, which declined by 9.1 per cent. The strongest rise in demand was Gladstone, which was up 39.1 per cent and a median price of $230,000 and was followed by Fraser Coast, which was up 33.8 per cent and a median price of 33.8 per cent and Gympie, which was up 32.2 per cent and a median price of $295,000.

Despite the demand, price growth was fairly down, aside from four areas; the Sunshine Coast which rose 5.8 per cent to $545,000, the Gold Coast which rose 4.1 per cent, Mackay which rose 0.3 of a percentage point to $321,000 and Gympie, which held steady.

Gladstone saw the largest median price growth decline, falling 14.8 per cent, and was followed by Rockhampton, which declined 12.7 per cent to $240,000 and Bundaberg, which declined 7 per cent to a median price of $265,000.

Metro Brisbane median price and demand

RegionMedian priceMedian price year-on-year percentage changeDemand year-on-year percentage change
East$556,0005.7%16.7%
North$540,0001.9%6.0%
South$635,0001.6%-2.1%
West$633,5000.6%0.1%
Inner City$628,000-3.1%13.7%

Regional Queensland median price and demand

RegionMedian priceMedian price year-on-year percentage changeDemand year-on-year percentage change
Bundaberg$265,000-7.0%30.2%
Cairns$340,000-4.2%6.5%
Douglas$335,000-1.2%19.3%
Fraser Coast$305,000-1.6%33.8%
Gladstone$230,000-14.8%39.1%
Gold Coast$536,0004.1%-9.1%
Gympie$295,0000.0%32.2%
Mackay$321,0000.3%31.1%
Noosa$608,000-3.5%24.2%
Rockhampton$240,000-12.7%5.6%
Sunshine Coast$545,0005.8%6.5%
Toowoomba$355,000-1.0%4.8%
Townsville$310,000-1.6%10.9%

Source: www.smartpropertyinvestment.com.au

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Mega mansion sells for $11m plus

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Mega mansion sells for $11m plus

The riverfront property in Hawthorne sits on a 2137 sqm riverfront block.

ONE of Brisbane’s most enviable trophy homes has sold for more than $11 million in the city’s biggest sale of the year so far.

The mega mansion, on a sprawling 2137 sqm riverfront block in Hawthorne, has been home to energy executive Shaun Scott and his wife, Sarah, for the past eight years.

Mega mansion sells for $11m plus
The view from the property in Hawthorne.

The Scotts’ property has been snapped up by self-made millionaire Anthony Yap, who founded Good Price Pharmacy Warehouse.

Mega mansion sells for $11m plus
Good Price Pharmacy Warehouse managing director Anthony Yap. Picture: Richard Walker.

Mr Yap and his wife, Hahn Luu, happen to be selling their current, six-bedroom home in neighbouring Balmoral, which is scheduled to go to auction next month.

Ms Luu declined to comment when contacted by The Courier-Mail.

Mega mansion sells for $11m plus
This house in Balmoral is for sale.

Mr Yap also owns another ­mansion in Balmoral, but his new digs in Hawthorne really are something else.

The home has five bedrooms, six bathrooms, two swimming pools, a heated spa, a north-south facing championship-size tennis court, a boat house, putting green and private 12m jetty.

Mega mansion sells for $11m plus
Inside the Hawthorne home.

Wait, there’s more.

There’s also a wine cellar, music room, library, gym and games room with built-in bar.

Records show Mr Scott, who is the former chief executive of Arrow Energy, bought the original property for $6.85 million in 2010.

Mega mansion sells for $11m plus
Shaun Scott is a former chief executive of Arrow Energy.

They employed architect Donovan Hill to design a brand new house, which was completed in 2014.

Selling agent David Price of Ray White – East Brisbane said the property attracted interest from potential buyers in London, New York and Dubai, as well Sydney and Melbourne.

“It was a truly international campaign,” Mr Price said.

“It’s a spectacular home. The house really had the lot because of the views over New Farm Park and the city, as well as being a flat block with a tennis court.”

There’s been some big money changing hands between the movers and shakers of Brisbane’s property market in the past year, with prestige homes attracting strong demand and increasing interest from interstate buyers.

This latest sale is the biggest of 2018 in Brisbane so far, eclipsing the $11 million sale of a mansion at 27 Sutherland Ave, Ascot, in March, and the $10.138 million sale in February of the Hamilton Hill mansion built by Christopher Skase at 36 Dickson Terrace.

Mr Price also recently sold a riverfront home at 15 Laidlaw Parade, East Brisbane, for $3.45 million and has listed another executive address at 10 Aaron Ave, Hawthorne.

“The top end’s very strong,” he said.

Mega mansion sells for $11m plus
The view from the house in Balmoral.
Mega mansion sells for $11m plus
The Hawthorne home sold for the highest price in Brisbane so far this year.
Mega mansion sells for $11m plus
Inside the Hawthorne house, which has sold.

Source: www.sunshinecoastdaily.com.au

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Brisbane’s Top Performing Growth Suburbs

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Brisbane’s Top Performing Growth Suburbs

Canny property owners in Brisbane have made huge cash gains after investing in suburbs which have recorded high capital growth.

Despite reports of a stalling real estate market, Place Advisory research has identified high performing suburbs in Brisbane, Ipswich and Logan, in the six months to March 2018.

Brisbane recorded an average capital gain of 6.2 per cent, with the inner suburb of Milton landing the highest capital growth of 19.9 per cent with median house values of $892,500.

Place Advisory’s Lachlan Walker said the growth has resulted in significant yields for property owners who have sold in the current climate.

“These gains are however the result of long-term strategies, crystallising capital growth if their initial investment was made based on the underlying drivers of population growth and the delivery of planned strategic local infrastructure,” Walker said.

SuburbGrowth (%)
Milton19.9%
Ascot13.3%
Kenmore Hills11.9%
Bundamba9.7%
Jamboree Heights9.4%
Shorncliffe9.2%
Park Ridge6.9%

Ipswich has lead the market in terms of a general rise in demand and pricing.

“The Ipswich corridor has undergone significant change over the past few years,” Walker said.

“Low entry level prices have allowed for strong growth to be achieved and value to be recognised by purchasers as this area continues to develop.

“The suburb of Bundamba recorded the highest capital growth in the Ipswich area, a significant 9.7 per cent.”

The Ipswich property market has also benefited from the awarding of a $5 billion defence contract to the region, which is forecast to generate jobs and infrastructure for the next 40 years.

In Logan, the top performing suburb was Park Ridge, with 6.9 per cent capital growth.

“The wider Logan area is a long-term investment opportunity,” Walker said.

Source: theurbandeveloper.com

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