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Brisbane’s biggest bargain buy sold for less than it fetched a decade ago

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A FIVE bedroom home within 15km of the CBD has sold for less than it did a decade ago in what must be one of Brisbane’s bargains of the weekend.

A FIVE bedroom home within 15km of the CBD has sold for less than it did a decade ago in what must be one of Brisbane’s biggest bargains of the weekend.

The house at 32 Sunset Place was on a large 809sq m block in Carindale and had been forced under the hammer as part of bankruptcy proceedings.

The home sold for less than was paid a decade ago.

The home sold for less than was paid a decade ago.Source: Supplied

It’s in such neat condition the new owner can move right in if they wish.

It’s in such neat condition the new owner can move right in if they wish.Source: Supplied

The house has a formal lounge and dining room.

The house has a formal lounge and dining room.Source: Supplied

The owners had bought the property in October 2007 for $1.03m, according to CoreLogic data, and ten years later have had to see it sell for less than they paid — with it going for $1.011m under the hammer on Saturday.

In the past five years, alone houses in Carindale have grown in median price by 27.7 percent, with the annual change over the past decade sitting at 3.9 percent. The median asking rent for houses in the area is $580 a week and homes sell in under a month when they go to market (23 days).

His and hers vanities in one of the bathrooms.

His and her vanities in one of the bathrooms.Source: Supplied

The master bedroom.

The master bedroom.Source: Supplied

Veranda access of another bedroom.

Veranda access to another bedroom.Source: Supplied

The three bathroom, double remote garage property had been built as a display home in 2000.

It has a formal lounge and separate dining room as well as a family and meals room.

The home features a covered entertaining area, an inground swimming pool, high ceilings, ducted and split system air conditioning, built-in wardrobes and a large laundry.

Originally Published: www.news.com.au

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Residential

Rental demand in Qld; Mackay’s vacancy rate the tightest in the state: REIQ

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IT has become almost impossible to find a rental property in Mackay, with the regional city’s vacancy rate now the tightest in Queensland. FIND THE VACANCY RATE IN YOUR REGION.

Rental demand

Local agents take down a ‘For Rent’ sign in Cairns, which is one of the tightest coastal rental markets in Queensland.Source:News Limited

IT has become almost impossible to find a property to rent in Mackay, with the regional city’s vacancy rate now the tightest in Queensland.

The latest Real Estate Institute of Queensland residential vacancy rate report shows the coastal market’s vacancy rate tightened by a whopping 100 basis points in the September quarter.

rental demand

The rental vacancy rate in Mackay has fallen from 1.9 per cent to 0.9 per cent in three months. Picture: Rob Maccoll.Source:News Limited

The rental vacancy rate in Mackay fell from 1.9 per cent to 0.9 per cent in just three months, which means the city is pretty much full.

Rents are also on the rise, increasing in the range of 10 to 20 per cent over the past year, with two-bedroom houses and three-bedroom units reporting annual growth in the weekly median rent of $50.

rental demand QLD

Mackay has the tightest rental vacancy rate in Queensland at 0.9 per cent.Source:News Limited

REIQ chief executive Antonia Mercorella said the strength of the regional economy and the employment market were driving the increase in demand for rentals.

About 3900 new job opportunities were created in Mackay in the year to August — putting downward pressure on the jobless rate, which is now just 3.3 per cent.

“As the state’s economy improves and the jobs market in regional Queensland strengthens, we are seeing people returning to those areas and are looking first for rental accommodation,” Ms Mercorella said.

“Markets such as Mackay, Toowoomba and Bundaberg, which are tight, are stabilising after a period of correction.”

Rental Demand

REIQ chief executive Antonia Mercorella.Source:Supplied

The report found rental markets in the largest regional centres continued strengthening during the quarter as median rents trended upwards, particularly in Mackay, Rockhampton and Toowoomba.

The Fraser Coast and Cairns markets are the tightest coastal rental markets in Queensland with regional vacancies of 1.4 per cent.

Steady rents are boosting the rental market on the Fraser Coast, with well-priced rental properties snaring a tenant in less than a week on average.

The report found only two of the major regional markets in the state — Gladstone and Townsville — were weak, with vacancies above 3.5 per cent but below 4.5 per cent.

Overall, the state’s rental market strengthened again in the September quarter, with 27 markets classified as tight by the REIQ, four as healthy and four as weak.

The greater Brisbane rental market held steady at 2.2 per cent, but the local government area of Redland reported one of the region’s tightest vacancies of 1.5 per cent.

rental demand

The Brisbane LGA rental vacancy rate has tightened to 2 per cent. Image: AAP/Darren England.Source:AAP

The Brisbane LGA tightened to 2 per cent, with vacancies for both the inner and middle ring falling to the tight range during the September quarter.

“Even though this market has tightened to 2 per cent vacancies, we are hearing that pockets of the inner city are oversupplied and tenants are still negotiating well on terms,” Ms Mercorella said.

She said the state’s increasing population growth would require more rental supply.

Originally published as Rental demand jumps in Qld

Source: www.news.com.au

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Brisbane’s penthouse listing of 2018 hits the market

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brisbane penthouse
A property billed as “Brisbane’s biggest penthouse listing of 2018” has hit the market, as demand for ultra-luxurious sky homes in Queensland’s capital shows no sign of slowing.

One of Brisbane’s very first sky homes, at 801/8 Kyabra Street, Newstead, has been transformed from an empty shell into a penthouse, which marketing agent Tom Lyne, of Ray White New Farm, described as “next level”.

Mr Lyne said listings of this quality and style were rare in Queensland.

brisbane penthouse
801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

“This is a property you’d see in Los Angeles or Sydney,” he said. “It’s pushing the boundaries in terms of what has been on the market in Brisbane before.”

The three-level apartment not only offers five bedrooms and bathrooms over a staggering 962 square metres, but also an extraordinary roof-top terrace complete with outdoor dining, an open fire pit and manicured gardens all serviced by a large wet bar.

As well as a heated infinity edge swimming pool and spa on the middle level, the roof-top views across Brisbane have to be seen to be believed.

brisbane penthouse
Views like no other: 801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

Owner Jordana Stott spent eight months designing every aspect of the property’s interior and roof-top, and admits the views will be sorely missed when she moves on to her next project.

“Just being able to crack a bottle of wine and sit in your private garden and look at that view is pretty spectacular. That’s something that we will miss. We love that part of the property,” she said.

The couple chose a penthouse over a house because of the plethora of lifestyle amenities right on their door step, she said.

At the time, she said, they wanted to be able to walk to restaurants and enjoy everything that Newstead had to offer.

“Being in Newstead, it’s such a new little hub that’s really booming at the moment. You’re so close to everything, but you also then get the luxury of having the privacy of your own lawn in a sky home – that’s very special,” she said.

“It’s really cool for Brisbane. It’s one of the first that’s coming through.

“Brisbane is really coming into its own. I think we’ll start seeing more sky homes, especially with the new casino being built.”

The first of two penthouses in the luxurious development 443 Queen Street recently sold off the plan for more than $6 million, making it one of the most expensive apartments ever sold in Brisbane. Agents have reported a shortage of stock in the luxury apartment market.

brisbane penthouse
A bedroom with a rather nice view at 801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

Mr Lyne said one of the Newstead penthouse’s many features was that the seventh level was completely self-contained.

“It’s extremely unique to Brisbane, probably Queensland for that matter,” he said.

“We’re getting a good cross-section of people who are specifically looking for a penthouse, but also buyers who may have been considering quite a high-end house locally, or on the river, who are now considering this because it’s over three levels.”

The property is scheduled to go to auction on Tuesday, November 13, at Ray White New Farm’s Auction Under the Stars event starting at 6pm at X Cargo.

brisbane penthouse
That rooftop: 801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

Features include:

Unrivalled city views, private infinity edge swimming pool, rooftop terrace and garden;

First level leads to four private bedrooms, two bathrooms, media room and kitchen;

Versace and gold cork wallpaper and bespoke Timothy Oulton chandeliers;

Double showers in every bathroom;

Two kitchens each with a butler’s pantry and double oven;

Multiple formal and informal entertaining and al fresco areas;

Gas fireplace in living area and outdoor fireplace on rooftop;

Two fully equipped wet bars;

Dressing room;

Alarm system;

Three large car parks and storage;

Built-in garden maintenance room;

Lift servicing each level;

Metres from top lifestyle precincts popular for great restaurants, shops and boutiques.

brisbane penthouse
801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.
Source: www.domain.com.au
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Residential

Acreage blocks are selling hot at Yatala

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PIES aren’t the only things selling hot at Yatala — with acreage property flying off the market.

Doleman Property Group director Donna Doleman said this property, a four bedroom, two bathroom, lowset brick house on 5058sq m attracted about 30 groups and two written offers.

yatala

REAL ESTATE: 14 Alto Tce, YatalaSource:Supplied

“The new owners were devastated when they first saw it because it was under contract,” Ms Doleman said.

“When that contract fell over, it all fell into place for them.”

Ms Doleman said the new owners liked the location, the flat land and the house.

“They’re investors who will rent it out and move into it in about three years time,” she said.

The agent said acreage stock such as the property at 14 Alto Tce, which sold for $859,000, was in high demand.

yatala

REAL ESTATE: 14 Alto Tce, YatalaSource:Supplied

“Acreage is going unbelievably well,” she said.

“People are looking for bigger properties to get a bit of space between neighbours.

“I’d definitely like to see more stock, there is definitely not enough in the acreage market.”

According to CoreLogic data, the suburb median house sale price for Yatala is $739,000.

yatala

REAL ESTATE: 14 Alto Tce, YatalaSource:Supplied

Source: www.news.com.au

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