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Five things you didn’t know about Manly, Brisbane

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It might not be home to a rugby league team or a ferry like its namesake, but the Brisbane suburb of Manly has many strings to its waterfront bow.

About 19 kilometres east of the Brisbane CBD, the seaside suburb of Manly is a place locals have known and loved for years – and interstate migrants are falling for the locale, too, it seems.

Many of the new residents have previously had a connection with Manly via its boat harbour – which is the largest in the southern hemisphere with more than 3000 dry standings and wet berths.

Fun fact: Manly Boat Harbour is the biggest in the southern hemisphere.

Fun fact: Manly Boat Harbour is the biggest in the southern hemisphere. Photo: Tammy Law

Water-loving migrants are starting to sail in now, according to Belle Property’s Renee Brace, because of the suburb’s location as well as its more affordable property prices compared to Sydney and Melbourne.

In fact, Ms Brace and her family made the move about eight years ago from Sydney for exactly the same reasons.

“I moved up here with a six-year-old and a nine-year-old, smaller blocks than what I was used to in Sydney, but you’ve got all this parkland so you just spend all your time down there,” she said.

Brisbane's bayside secret is out: The waterfront walk snaking along the edge of the bay goes for kilometres.

Brisbane’s bayside secret is out: The waterfront walk snaking along the edge of the bay goes for kilometres. Photo: Tammy Law

“It caters to families and, of course, the yachting and sailing community. But it’s a buzz. It’s a weekend destination. Lots of people come down here just to be on the foreshore.”

Wandering down Cambridge Parade on a quiet (and drizzly) Wednesday afternoon, the weekend buzz isn’t anywhere to be seen, but there are plenty of changes afoot.

Amongst the stalwarts of the Manly Hotel and Celtic Corner Bar & Bistro are trendy offerings such as the Blue Bottle Bar + Kitchen, Love Juice Superfood Bar and even an oyster bar called Shucked, which recently opened its doors near the well-known Fish Cafe.

Picturesque Cambridge Parade, Manly, hosts cute restaurants and beautiful coffee shops.

Picturesque Cambridge Parade, Manly, hosts cute restaurants and beautiful coffee shops. Photo: Tammy Law

During her time in Manly – and especially over the past two years – Ms Brace has witnessed these changes, as well as an increasing number of renovations, taking place.

“We just have a younger generation, too – whether they are executives or people with small kids – they just want to be able to walk to the village,” she said.

“It’s a very variable (market) area, so you might have a $1.3 million house next to a $500,000 house, just depending on what stage it’s at and whether it’s been renovated or it’s new.

The hilly streets of Manly have stunning views of the bay and over to South Stradbroke Island.

The hilly streets of Manly have stunning views of the bay and over to South Stradbroke Island. Photo: Tammy Law

“We are seeing quite a bit of change with some of the older places that have been lifted, renovated and modernised.”

Real Estate Institute of Queensland Eastern Suburbs Zone Chair Peter Barrett said Manly’s median house price had grown significantly over the past five years as buyers learnt of the suburb’s myriad attractions.

“It’s a very family-friendly suburb and the population has grown almost 25 per cent in the past decade, from 3046 in 2006 to more than 4000 in 2016, which is driving price growth,” he said.

“The area has been the recent focus for developers and some exciting projects are on the horizon here and in neighbouring Wynnum, including an eight-screen cinema and retail complex.

“This area has been earmarked for significant growth in the South East Queensland Regional plan, with height limits extended to eight storeys, plus this bayside suburb is within easy commuting distance of the Brisbane CBD.”

So it appears that Manly is on the cusp of change – although not all long-term locals are reportedly keen to see it transform.

However, with a median price far below other southern city’s seaside suburbs, it’s hard not to see the area gentrify more in the years ahead.

And those pesky southern buyers are already staking their claim on the suburb.

“We had one recently that sold prior to auction, and it was the first open, and the gentleman had been there 10 minutes and he put in a cracking offer and just went, ‘I want it’.

“The competition is definitely there. People are ready to buy and are ready to roll straight away,” she said.

Local buyers best take note that if they snooze beside the seaside, they might just lose out on owning a piece of the Manly pie while its median price is still on the “right side” of $1 million.

5 things you didn’t know about Manly

1) It’s home to the largest boat harbour facility in the southern hemisphere.

2) The Manly Railway Station was opened in 1889 and provides rail services to Brisbane and Cleveland.

3) In 1882 land was sold by auction for the “Manly Beach Estate”, apparently named after Manly in Sydney.

4) Manly State School opened in 1910 and is so popular, parents have been known to camp overnight to secure a place.

5) A heritage-listed beach house at 150 Kingsley Terrace was built as a holiday home by politician Michael Gannon in about 1888.

Originally Published: www.domain.com.au

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Brisbane unit market ‘a buyer’s market’

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Brisbane unit market ‘a buyer’s market’

The current state of Brisbane’s unit market is a viable option for investing in the capital city, a property specialist has claimed.

After reports by BIS Oxford Economics about Brisbane facing a unit oversupply, with around 20 per cent of its apartments remaining empty, Selena Corness, buyer’s agent at Universal Buyers Agent, said that right now is the right time for interested investors to enter into Brisbane’s market.

“Now is absolutely the time to buy and diversify your portfolio,” Ms Corness said.

“In the past 18 months, there have been a lot of new residential multi-storey unit complexes completed within a [two kilometre] radius of Brisbane CBD… [and] this has flooded the market and pushed prices down.”

As a result, Ms Corness said that buyers have panicked and pulled out. Investors can use this confusion to their advantage and find an entry point into the market via an affordable unit.

“By buying smart and taking advantage of the market, buyers are really in the driver’s seat,” the expert said.

“It’s a real ‘glass half full’ view — you could choose to see the doom and gloom side of the market and see it as half empty or appreciate it for what it is as a buyer: an opportunity.”

In order to enter the market, Ms Corness said that buyers need $300,000 in pre-approved finances, which will allow for investors to enter the premium markets of New Farm and Teneriffe.

“Not too long ago, living in these inner-city locations would have been a dream for most buyers, but now [that] prices are at the bottom end of the market, it’s a dream that can become a reality,” Ms Corness said.

“We know that prices will not continue to stay this low, so there is a lot of opportunit[ies] to make smart investments that will create great returns in the long term.”

As an example, Ms Corness pointed out how a unit developer cut its prices by nearly 25 per cent to try and sell its last units, from approximately $630,000 to $475,000, emphasising the room prices can grow back up to when the market corrects itself. However, deals such as this, she warns, are complicated to find.

“If you have $600,000 to invest in the Brisbane property market, my recommendation would be to split it and buy two units in different buildings aiming for an immediate minimum gross rental yield of 5.5 per cent,” Ms Corness said.

Source: www.mortgagebusiness.com.au

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Brisbane suburbs earning double what the average worker does

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Brisbane suburbs earning double what the average worker does

Amanda Wolski at 2837 Old Cleveland Road, Chandler, which is on the market for $1.15m. Picture: AAP Image/Josh Woning.Source:News Limited

HOMES in these suburbs earn double what the average worker does, raking in as much as $724.66 a night as their owners sleep.

Latest figures from realestate.com.au and CoreLogic showed the top 10 Queensland suburbs for capital growth in the last year came out of the southeast corner of the state, the bulk of which were in Brisbane and Ipswich.

Chandler in Brisbane’s southeast topped the capital gains of the 10 best performing suburbs in the state when it came to daily earnings, with homes there bringing in a whopping $724.66 a day without their owners having to lift a finger. At $264,500 for the year, that’s about as much as the average futures trader earned in salary last year according to the Australian Taxation Office ($264,830).

Homes in Yeerongpilly were making their owners $506.85 richer every day ($185,00 annually) – which was like having a petroleum engineer in your wallet ($185,808), while Indooroopilly houses were cranking out a $495.89 boost in value daily ($181,000p/a) which was a public servant deputy level salary ($181,849).

Top performer percentage wise was Kurwongbah in Moreton Bay (32 per cent), four of the top 10 suburbs were in Brisbane (Yeerongpilly 28.2 per cent, Corinda 25.6 per cent, Indooroopilly 22 per cent and Chandler 21.5 per cent), the same out of the Ipswich region (Willowbank 27.7 per cent, Brightview 23.1 per cent, Chuwar 21.7 per cent), and Boonah in Scenic Rim also made the cut (20.9 per cent).

Agent Nyree Ewings of LJ Hooker Birkdale-Wellington Point said Chandler’s big earnings were not a surprise given the size of its blocks and Goldilocks proximity to the city, ocean and Gateway Motorway.

“It’s the most affordable acreage with good access to the city,” she said. “That’s the exciting part – there’s a package for every style of acreage there.”

“The reason there’s been so much capital growth there is people wanting a good old fashioned lifestyle but still within reach of the city and water.”

She said entry level in the area was over $1m now such as 2837 Old Cleveland Road which has 2.36 acres, two four-bedroom houses and a massive eight car spaces.

Its owner Amanda Wolski put the Chandler property on the market for $1.15m – “an entry level price”.

“I know it’s a good area. I did build it 12 years ago. It’s just beautiful out here, private, it feels like you’re in the country but you’re just 20 minutes to the city, private schools, close to the Gateway Motorway. You can be on the coast in an hour. The location is just incredible.

“It’s been the most beautiful place to raise children, they’ve had horses, guinea pigs, been in the pony club for years, had motor bikes, go carts, chickens, geese, campouts, firepits. We will miss that most plus just the peace and the trees.”

Ms Ewings said the home was attracting developers looking to land bank as well as locals keen to get into acreage as well as people from outside the area.

QLD TOP 10 CAPITAL GAINS

HOUSES

1 Kurwongbah 32% gain; $452.05 a day; $79.33p/hour

2 Yeerongpilly 28.2%; $506.85 a day; $88.94p/hour

3 Willowbank 27.7%; $246.58; $43.27

4 Corinda 25.6%; $457.53; $80.29

5 Brightview 23.1%; $164.38; $28.85

6 Indooroopilly 22%; $495.89; $87.02

7 Chuwar 21.7%; $273.97; $48.08

8 Chandler 21.5%; $724.66; $127.16

9 Boonah 20.9%; $157.53; $27.64

10 Basin Pocket20.6%; $132.88; $23.32

(Source: realestate.com.au)

Source: www.news.com.au

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Why savvy Brisbane buyers are targeting 600 square metre development sites

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Why savvy Brisbane buyers are targeting 600 square metre development sites
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