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The most expensive home sales of 2017 — and those set to break records in 2018

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brisbane market place

IT could be a record-breaking year for the state’s property market, with experts predicting a fresh wave of migration into southeast Queensland to drive home prices higher in 2018.

BRISBANE’S housing market could smash through the $20 million price ceiling in 2018 on the back of a record-breaking year that heralded a new era for the city’s property sector.

With an exodus of Sydney and Melbourne homeowners predicted to sell up and move to the Sunshine State this year, agents say the only way is up for prestige property prices.

The top sale of 2017 in Queensland was a clifftop Kangaroo Point home, which sold for a whopping $18.48 million — easily eclipsing the prior $14 million record set in late 2014 when mining magnate Gina Rinehart bought a home in Aaron Ave, Hawthorne.

The luxurious home at 1 Leopard Street became Brisbane’s most expensive residential property when it settled in March last year.

It was also one of the 25 most expensive home sales of 2017 in Australia.

Ray White New Farm principal Matt Lancashire, who brokered the landmark sale, along with four of the top five house sales of 2017, is optimistic a new record could be set this year.

“There are a number of property owners I’m talking to that may, or may not, potentially do something this year (that would see a new record set),” Mr Lancashire said.

“There are not too many properties in Brisbane that have the capacity to do that, however, there are some amazing homes.

“It’s just whether the ducks line up for the sellers.”

Mr Lancashire said he was aware of at least two properties that could fetch more than 1 Leopard Street.

“Brisbane is undervalued compared to the southern states,” he said.

“I think $20 million is the next Brisbane barrier — that’s definitely an achievable target.”

Ray White New Farm principal Matt Lancashire (L), with Hamish Bowman, negotiated four of the top five house sales in 2017, including the house behind them at 24 Palm Ave, Ascot. Picture: Lyndon Mechielsen.Source:News Corp Australia

Ray White New Farm principal Matt Lancashire (L), with Hamish Bowman, negotiated four of the top five house sales in 2017, including the house behind them at 24 Palm Ave, Ascot. Picture: Lyndon Mechielsen.Source:News Corp Australia

CoreLogic senior research analyst Cameron Kusher said there was potential for Brisbane homes to fetch even higher prices in 2018, with a fresh wave of interstate migration likely to drive prices higher.

“Migration to Queensland is picking up from New South Wales and Victoria where people are accustomed to much higher prices,” Mr Kusher said.

“I wouldn’t be surprised to see higher priced sales this year than we saw last year just because although the market’s not really hot, you are seeing some growth and people are moving here from areas where it’s a lot more expensive.”

Macquarie Bank expects about 130,000 people to move from Sydney to Brisbane in the next three years, bringing with them an estimated $8.1 billion.

But Mr Kusher admitted it would be a hard task to eclipse the record set by 1 Leopard Street.

The opulent residence spanning three levels features five bedrooms, six bathrooms, an internal lift, a gym, a sound proof cinema, a wine cellar and marble flooring imported from Greece.

A heated infinity lap pool and spa span the width of the property on the cliff’s edge, offering almost 72 metres of uninterrupted views of the Brisbane River and city skyline.

“That’s a pretty unique property,” he said.

“Not too many properties have a view like that.

“But it’s not unrealistic to see a $10 million sale this year.

“What you can get for $10 million in Brisbane, you’d probably pay $30 million for in Sydney.”

The view from the bathtub in the apartment at 10/170 Bowen Tce, New Farm. Source: Supplied

The view from the bathtub in the apartment at 10/170 Bowen Tce, New Farm. Source: Supplied

A two-floor, “sky home” apartment in New Farm was the most expensive unit sale of the year in Queensland, fetching $6.15 million.

The property at 10/170 Bowen Tce features four bedrooms and four bathrooms over two levels, with amazing views of the city from every room.

Place managing director Sarah Hackett said homes of that quality rarely became available in Brisbane, but there was definitely a strong appetite for them.

“There are people that have that sort of money looking to buy in Brisbane … but trying to find them a property that suits them is hard,” she said.

“Those properties do exist, but the owners are mostly happy living in them!”

She said she and her husband, Damian, had sold $9 million worth of property in the week before Christmas.

“The end of the year was really strong and I think (2018) will start strong,” she said.

One of the properties on the market with the potential to breach the $20 million barrier is the opulent house built by one of Australia’s most notorious businessmen, Christopher Skase.

The opulent mansion built by Christopher Skase could break records if it sells in 2018. Source: Supplied

The opulent mansion built by Christopher Skase could break records if it sells in 2018. Source: Supplied

The nine-bedroom, nine-bathroom mansion, known as ‘Bromley’, at 36 Dickson Tce, Hamilton, was built in 1988 at a reported build cost of $35 million and was extensively renovated ten years later.

A luxury residence built into the side of a hill at 10 Morgan St, Ascot, is tipped to change hands for more than $14 million — when the right buyer comes along.

This house at 10 Morgan St, Ascot, is tipped to sell for more than $14 million. Source: Supplied

This house at 10 Morgan St, Ascot, is tipped to sell for more than $14 million. Source: Supplied

The four-storey home had been expected to set a new record for Brisbane before 1 Leopard St sold.

Other properties with the potential to fetch big dollars if they sell this year include ‘Cintra House’ at 23 Boyd St, Bowen Hills, which is one of Brisbane’s oldest and most prestigious homes, and ‘Rivergum Retreat’ at 36 Needham St, Fig Tree Pocket, which is owned by Linc Energy founder Peter Bond.

Stefanie Brown at the historic Cintra House which she is selling. Picture: Peter Wallis.Source: News Corp Australia

Stefanie Brown at the historic Cintra House which she is selling. Picture: Peter Wallis.Source: News Corp Australia

The second highest sale in Queensland in 2017, according to property data firm CoreLogic, was on the Gold Coast, where a palatial Hope Island mansion changed hands for $16.75 million.

A Vietnamese businessman bought the waterfront residence at 2620-2622 Virginia Drive after just five days on the market.

This home at 2620-2622 Virginia Dr, Hope Island, fetched $16.75m in 2017. Source: Supplied

This home at 2620-2622 Virginia Dr, Hope Island, fetched $16.75m in 2017. Source: Supplied

Further north, the biggest house sale of the year in Cairns was at Trinity Park for $2.5 million, while a house in Townsville’s North Ward fetched $1.825 million.

TOP QLD HOME SALES OF 2017

BRISBANE

Houses

Price Sale Date Address

1. $18.48m March 2017 1 Leopard St, Kangaroo Point

2. $8.8m September 2017 128 Crosby Rd, Ascot

3. $8.3m February 2017 24 Palm Ave, Ascot

4. $7.6m June 2017 26 Mayfield St, Ascot

5. $7.6m June 2017 2 Castleton St, Hamilton

Units

Price Sale Date Address

1. $6.15m March 2017 10/170 Bowen Tce, New Farm

2. $5.662m March 2017 450/1 Newstead Tce, Newstead

3. $4.9m June 2017 2141/32 Refinery Pde, New Farm

4. $4.3m May 2017 602/1 Gray St, New Farm

5. $4m May 2017 141/1 Newstead Tce, Newstead

(Source: CoreLogic)

GOLD COAST

Houses

Price Sale Date Address

1. $16.5m May 2017 2620-2622 Virginia Dr, Hope Island

2. $9.5m February 2017 201-205 Monaco St, Broadbeach Waters

3. $9m March 2017 75-77 Monaco St, Broadbeach Waters

4. $6.95m February 2017 The Promenade, Surfers Paradise

5. $6.95m June 2017 Southern Cross Dr, Surfers Paradise

Units

Price Sale Date Address

1. $5.5m April 2017 Gold Coast Hwy, Broadbeach

2. $3.795m March 2017 Brighton Pde, Southport

3. $3.7m January 2017 The Esplanade, Surfers Paradise

4. $3.5m June 2017 Enderley Ave, Surfers Paradise

5. $3.38m May 2017 The Esplanade, Palm Beach

(Source: CoreLogic)

TOWNSVILLE

House

Price Sale Date Address

1. $1.825m August 2017 Cleveland Tce, North Ward

2. $1.4m May 2017 Saltwater Dr, Toomulla

3. $1.25m May 2017 Landsborough St, North Ward

4. $1.2m February 2017 Panorama Crt, North Ward

5. $1.12m May 2017 Edinburgh Crt, Castle Hill

Unit

Price Sale Date Address

1. $1.4 October 2017 The Strand, North Ward

2. $1.2m September 2017 Walker St, Townsville City

3. $1.19m November 2017 Mariners Dr, Townsville City

4. $1.15m April 2017 Mariners Dr, Townsville City

5. $1.1m May 2017 Mariners Dr, Townsville City

(Source: CoreLogic)

CAIRNS

House

Price Sale Date Address

1. $2.5m October 2017 Brindabella Quay, Trinity Park

2. $2.15m November 2017 Apollo Quay, Trinity Park

3. $2.025m October 2017 Knott Crt, Whitfield

4. $1.75m February 2017 Marina Quay, Trinity Park

5. $1.5m February 2017 Gaway St, Caravonica

Unit

Price Sale Date Address

1. $2.35m January 2017 Marlin Pde, Cairns City

2. $1.25m February 2017 Grafton St, Cairns City

3. $1.2m February 2017 Esplanade, Cairns North

4. $1.1m March 2017 Marlin Pde, Cairns City

5. $1.1m September 2017 Colonel Cummings Dr, Palm Cove

(Source: CoreLogic)

Originally published: www.news.com.au

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Top 68 suburbs for growth in Queensland revealed

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Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.

Top 68 suburbs for growth in Queensland revealed

Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.

The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.

Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:

  • Spring Mountain with growth of 103.6 per cent;
  • Collinsville with growth of 46.2 per cent;
  • Minyama with growth of 45.8 per cent;
  • Hamilton with growth of 32.9 per cent;
  • Hollywell with growth of 30.5 per cent;
  • Miles with growth of 23.5 per cent;
  • Mount Coolum with growth of 21.9 per cent;
  • Dundowran beach with growth of 21.5 per cent;
  • Boonah with growth of 21.3 per cent; and
  • Idalia with growth of 21.3 per cent.

Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.

It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”

South-east Queensland

While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.

Of these, 15 suburbs were located in the Sunshine Coast region, with the highest growing being Minyama, which ranked fourth overall.

The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.

Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.

Regional Queensland

Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.

Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.

While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.

The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each

Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed

The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:

RankSuburbMedian priceCapital growth over 12 months (as a percentage)
1Blackwater$94,250151.3%
2Spring Mountain$450,000103.6%
3Collinsville$95,00046.2%
4Minyama$1,310,00045.8%
5Hamilton$1,442,00032.9%
6Hollywell$810,00030.5%
7Miles$148,25023.5%
8Mount Coolum$670,00021.9%
9Dundowran Beach$607,00021.5%
10Boonah$324,50021.3%
11Idalia$485,00021.3%
12Rasmussen$347,50019.9%
13Yaroomba$749,00019.7%
14Biloela$272,75018.6%
15Burnett Heads$317,00018.1%
16Tivoli$295,00018.0%
17Cashmere$690,00018.0%
18Walloon$370,00016.7%
19Sunshine Beach$1,400,00016.7%
20Noosa Heads$1,070,00016.0%
21Hope Island$739,75015.7%
22Ripley$374,00015.4%
23Sandgate$705,00015.2%
24North Ward$575,00015.0%
25Paddington$1,150,00014.7%
26Palm Cove$606,00014.3%
27Charters Towers City$142,50014.0%
28Pelican Waters$761,00013.9%
29Cooee Bay$313,00013.8%
30Mount Ommaney$944,00013.7%
31Fernvale$357,50013.5%
32The Range$380,00013.4%
33Landsborough$432,50013.4%
34Sunnybank$832,50013.3%
35North Mackay$270,00013.2%
36Whitfield$540,00013.1%
37Graceville$932,50013.0%
38Hendra$1,100,00012.7%
39Shorncliffe$840,00012.4%
40Moranbah$185,00012.1%
41Coes Creek$442,50012.0%
42Cooloola Cove$317,50012.0%
43Battery Hill$578,00012.0%
44Seven Hills$940,00011.9%
45Nundah$755,00011.9%
46Monkland$240,00011.6%
47Bongaree$470,00011.6%
48Clifton Beach$557,50011.5%
49Maroochydore$639,00011.2%
50Twin Waters$823,00011.2%
51Cambooya$322,50011.2%
52Tewantin$572,50011.2%
53Coolum Beach$675,25011.2%
54Kedron$744,50011.1%
55Sunrise Beach$820,00011.0%
56Oakey$241,50011.0%
57D’aguilar$416,00010.9%
58Mountain Creek$610,00010.9%
59Flinders View$371,50010.9%
60Highland Park$570,00010.7%
61Rosewood$291,00010.7%
62Bulimba$1,300,00010.6%
63Kirkwood$353,50010.5%
64Woodgate$402,50010.3%
65Railway Estate$309,50010.1%
66Auchenflower$1,070,00010.0%
67Rainbow Beach$489,50010.0%
68Ormeau Hills$530,00010.0%

Top 68 suburbs for growth in Queensland revealed.

Source: smartpropertyinvestment.com.au

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Brisbane’s median home price deceptively low

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Brisbane’s median home price deceptively low

Brisbane’s median home price deceptively low

Brisbane’s median home price deceptively low. LATEST analysis shows Brisbane’s significantly more affordable median home price is deceptively low, given only three areas sit below the citywide median.

At $491,925, Brisbane’s median was over 40 per cent cheaper than Sydney ($833,876) and just over 25 per cent less than Melbourne ($655,044).

But when CoreLogic research analyst Cameron Kusher broke it down in zones around the capital, the data told a different story.

“While that ($491,925 is substantially lower than Sydney and Melbourne you can see that all of the regions relatively close to the city have current median values which are higher than that,” he said.

“The most expensive region of the city is the West ($659,554) while the most affordable is Ipswich ($350,511).

“Only three SA4 regions of the city actually have a median value which is lower than the citywide median.”

Brisbane’s median home price deceptively low

The cafe lifestyle in inner-city New Farm is part of the reason that median prices there are definitely above the citywide average. Picture: Annette Dew.Source:News Corp Australia

Those three SA4 regions of Greater Brisbane were Ipswich with a median property value of $350,511, Logan-Beaudesert on $387,401 and Moreton Bay — North on $413,962.

All the rest had medians that were above the official median Brisbane dwelling led by Brisbane West where the median of $659,554 was higher than that of Melbourne.

Brisbane South’s median was $639,457, followed by Brisbane Inner City $584,539), North ($549,231), East ($548,746) and Moreton Bay — South $501,509.

The closer you are to desirable attributes such as the river, the higher prices tended to go, according to the analysis.

“Desirable areas close to the city centre typically have much more expensive housing costs than the broad capital city median,” Mr Kusher said.

“Although it is clichéd, location, location, location holds true and purchasers still pay a significant premium for well-located properties.”

Mr Kusher said the data gave “a more granular insight into how median values in each city compare to smaller regions across each city”.

Buyers were well advised to look at markets closer “as housing costs or the housing market performance can be vastly different when you look at different areas of a city”.

Source: news.com.au

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Regional suburbs record double digit capital growth

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Regional suburbs record double digit capital growth

Regional suburbs record double digit capital growth

Regional suburbs record double digit capital growth. TOWNSVILLE has emerged as a star performer in regional Queensland, with four suburbs recording double digit growth.

REIQ has revealed the 68 suburbs that recorded double digit growth in the 12 months to June.

Twenty-seven of those 68 top performing suburbs were outside of the southeast, with Townsville dominating the regional listings.

REIQ CEO Antonia Mercorella said Idalia (+21.3% to $485,00 as of June) was a rapidly expanding suburb, located just 10 minutes from the Townsville CBD, and offering access to shopping centres, restaurants, beautiful landscaping around parks, lakes and the Ross River.

It is dominated by older houses and luxury new homes, with properties ranging from the “low to mid $300,000s” to over $1 million.

 

Regional suburbs record double digit capital growth

REIQ CEO Antonia Mercorella

 

“Idalia in Townsville ranks 11th on the state list and first on the Townsville LGA list,” she said.

The other Townsville suburbs to make the top 68 were Rasmussen (+19.9), North Ward (+15%) and Railway Estate (+10.1%).

Keyes and Co Property agent, and former Townsville City councillor, Tony Parsons, said there were suburbs doing well, and others that were still struggling, but there were positive signs in the local property market.

Regional suburbs record double digit capital growth

Regional suburbs record double digit capital growth

This four bedroom house at 47 Springside Terrace in Idalia is on the market for $868,000 and is listed with Keyes & Co

He said Idalia ticked a lot of boxes for families, but he was not surprised by the city’s other top suburbs with two of them “fringe suburbs” of the new stadium under construction.

Regional suburbs record double digit capital growth

North Queensland Stadium under construction in September 2018 Townsville

“North Ward and its proximity to The Strand speaks for itself, and Railway Estate has some of that character housing stock that many couples are keen on, those reno jobs.”

As for Rasmussen, the suburb has benefited from a number of new housing estates including a Defence Housing Australia development, and the duplication of Riverway Drive.

Mr Parsons said buyers could still get a bargain.

Regional suburbs record double digit capital growth

Australian hydrofoil championships off The Strand, Townsville.

Meanwhile, Cairns and Gympie had three suburbs on the list of top performers.

Palm Cove was the best performer in Cairns, ranking 26th overall.

Cooloola Cove in Gympie ranked 42nd, with house prices up 12 per cent to $317,500 in June 2018.

In the Whitsundays region, only Collinsville, a coal town southwest of Bowen, made the list, taking out third spot overall.

Ms Mercorella said Collinsville recorded an annual capital growth for houses of 46.2 per cent, taking the median sales price to $95,000 in June.

Other regions reporting at least one suburb on the list were Bundaberg, Toowoomba, Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs.

“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.

In terms of price, the REIQ analysis found that two very different brackets dominated the list — below $350,000 and above $500,000 but below $750,000.

“Eighteen top performing suburbs reported a median house price range below $350,000,” Ms Mercorella said.

“Most of these suburbs are located in regional Queensland.”

Similarly, 18 top performers reported an annual median house price range between $500,000 and $749,999 … 13 of these suburbs are located in the southeast corner.

“Only 8 top performing suburbs reported an annual median price range above $1 million. All these suburbs are located in Brisbane, Noosa or the Sunshine Coast LGA.”

Regional suburbs record double digit capital growth

TOP 10 PERFORMING REGIONAL QUEENSLAND SUBURBS, RANKING/1 YR CAPITAL GROWTH

Blackwater (1st) +151.3%

Collinsville (3rd) + 46.2%

Miles (7th) +23.5%

Dundowran Beach (9th) +21.5%

Idalia (11th) +21.3%

Rasmussen (12th) +19.9%

Biloela (14th) +18.6%

Burnett Heads (15th) +18.1%

North Ward (24th) +15%

Palm Cove (26th) +14.3%

(Source: REIQ QMM report June 2018. )

Source: sunshinecoastdaily.com.au

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