Connect with us

Market Place

Five things you didn’t know about Manly, Brisbane

Published

on

brisbane market place

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

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market Place

The most in-demand Brisbane suburbs for July 2018

Published

on

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

Continue Reading

Market Place

Mega mansion sells for $11m plus

Published

on

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

Continue Reading

Market Place

Brisbane’s Top Performing Growth Suburbs

Published

on

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

Continue Reading

Make your Super Work

smsf property investment smsf borrowing

Positive Cashflow

duplex designs, dual occupancy homes

Investment Property Advice

investment property calculator successin property

Trending