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Locals insist this Brisbane suburb is about more than just bad headlines

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brisbane market place

IT’S a suburb well known for its public housing and cultural diversity, but it’s now gaining a reputation for a market which draws on four corners of the globe.

Woodridge, which sits about 22km south of the CBD, is easily maligned but rarely appreciated for successfully bringing dozens of nationalities together, says local councillor Russell Lutton, who was once the local station master.

Mr Lutton challenged those that look down their nose on the suburb, to visit the Sunday market at Woodridge railway station to witness multiculturalism in full flight.

Local councillor Russell Lutton praised Woodridge for its ability to draw cultures together.

Local councillor Russell Lutton praised Woodridge for its ability to draw cultures together.
“We’ve got cultural diversity that you would not see anywhere else,” Mr Lutton said.

“If you come down to the market you will see there a Global Village market where three or four thousand people visit every Sunday.

“We have a big refugee cohort and … the suburb doesn’t get enough credit for absorbing all the cultures.”

Bang in the middle of the market action is local newsagent Tony Tjin who has been in business in Woodridge for more than 25 years.

Mr Tjin once ran a supermarket but now spends his days meeting and greeting customers from all walks of life.

“There are just so many nationalities we have people from Africa, Vietnam, Myanmar, Samoans and so on,” Mr Tjin said.

“There’s a lot of assistance within the suburb with language classes and they take them for driving lessons to help them integrate into the community.

“I know the greetings and the pleasantries of most languages which is something I’ve picked up in the shop and it makes it more personal.”

Over the years, Mr Tjin has seen many a family start life in Woodridge only to move on, but that’s not such a given these days.

Two of the most telling examples of locals calling Woodridge home forever were local lottery winners, said Mr Tjin.

“We’ve had a couple of people win division one lotto and they could have moved out, but they stayed in the community,” he said.

Tony Tjin has operated a newsagency in Woodridge for almost three decades. Picture: Darren Cartwright

Tony Tjin has operated a newsagency in Woodridge for almost three decades. Picture: Darren Cartwright
Not only is Woodridge known for an eclectic mix of cultures, but also for being heavily family orientated.

According to the latest ABS Census, of the 12,579 residents, 24 per cent are 14-years-of-age or younger.

The average age of the local population is 32 which is five years below the state average and six years below the national average of 38.

The high number of families has both to do with the migrant intake but also the affordability of the suburb, says John Ahern Real Estate principal John Ahern.

“It’s good for community services which assist the refugees and migrants,” Mr Ahern said.

“You’ll find in any major city there are lower socio economic areas and Brisbane is no different and Woodridge is where you have a mixture of people because it’s a great starting point.

“First home buyers are quite noticeable in the area because not everyone wants a big mortgage and it offers great value for money.”

The median house price is tracking at $300,000 this year which is slightly down on 2016 ($303,300) but still well up on 2015 ($277,000).

The affordability factor certainly hasn’t been lost on interstate investors who are parking their money in Woodridge.

Of the some 550 properties Ahern Real Estate manages, some 30 of them have been owned by long term investors.

“One of our biggest buyers is investors,” he said.

“About 41 per cent of the properties are rented which is a reasonably high percentage compared to some of the other suburbs closer to the city because it’s both affordable for buyers and renters.

“I’ve been in business 37 years and we’ve had more than 30 people who had investment properties with us for more than twenty years.”

The low median house price means the suburb is not being picked-off by professional renovators looking to ‘flip’ a house for quick profit.

Mr Ahern said sales over $500,000 are “pretty rare” which means there’s little profit to be made in purely renovating houses for immediate resale although that won’t last forever.

“There’s a little bit of flipping (houses) where we get the builder handyman person who add some value and tidy it up then sell it, but not major renovations,” he said.

Trinder Park railway station is one of three stations to service the area. Picture: Darren Cartwright

Trinder Park railway station is one of three stations to service the area. Picture: Darren Cartwright
While there are plenty of social services for those in need, there are also plenty of schools to accommodate the young families with no fewer than five schools including the highly culturally diverse Woodridge State High, Woodridge State primary School, St Paul’s Catholic Primary School and Harris Fields State School in the region.

The suburb is also well served by two railway stations, Woodridge and Trinder Park, and an extensive bus service, including a regular service to Garden City.

A police beat has recently opened across from Woodridge Station and which was welcomed by the community, said Mr Tjin.

“I’ve live here for more than 25 years and I’ve seen it cleaned up a lot but I’d like to see more foot patrol with police,” he said.

“The police beat has moved in a few months ago which has helped a lot but there are still a few rat bags around but you are going to get that no matter where you go.”

Originally Published: www.couriermail.com.au

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Market Place

The most in-demand Brisbane suburbs for July 2018

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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

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Market Place

Mega mansion sells for $11m plus

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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

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Market Place

Brisbane’s Top Performing Growth Suburbs

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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

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