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

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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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Market Place

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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Market Place

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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