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Queensland’s property flipping hotspots rise as profits roll in

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Queensland’s property flipping hotspots rise as profits roll in

TV presenter and renovator Cherie Barber has helped hundreds of Queenslanders add equity through renovations. Picture: Luke Marsden. Source: News Corp Australia

PROPERTY flipping — selling for a profit within a year or two of purchase — is on the rise, with new figures showing hotspots have emerged in the Sunshine State.

PROPERTY flipping is on the rise with profit hotspots emerging across three parts of South East Queensland.

A massive 90 per cent of properties flipped last year — that is, bought and re-sold within one to two years of purchase — went for a profit across Brisbane, with the figure sitting at 88.3 per cent in regional Queensland.

The latest CoreLogic data found three hotspots had emerged in the state — the Gold Coast, Moreton Bay North and Ipswich.

“Property flipping was most prevalent in the Gold Coast, comprising 7.9 per cent of re-sales for properties held between one and two years,” according to CoreLogic’s Flipping Report, released yesterday.

The GC region also experienced Queensland’s biggest growth in flipping, up 1.3 per cent over the previous year’s data.

Queensland’s highest percentage of successful flips came from Moreton Bay North in 2017, where 95.6 per cent of properties re-sold within two years were profitable.

A kitchen before it was made over by celebrity renovator Cherie Barber’s company Renovating For Profit. Source: Supplied

A kitchen before it was made over by celebrity renovator Cherie Barber’s company Renovating For Profit. Source: Supplied

The kitchen after the renovation using White Knight products. Source: Supplied

The kitchen after the renovation using White Knight products. Source: Supplied

And for those in the market for a quickie, the area that was able to deliver the highest percentage of properties bought and flipped for a profit in under a year was Ipswich (92.7 per cent).

According to the report, short term property trading profits come off “buying undervalued property and reselling at a higher price, buying property at market value and riding the capital growth curve, or by adding value to the property in some way (renovation, subdivision, development approval etc)”.

CoreLogic warned that flippers needed to take into account transactional costs such as stamp duty and conveyancing, as well as selling costs like marketing and real estate agent commission, plus interest payments on the debt as well as capital gains tax on the profit.

“When housing markets are running hot, it makes sense that flipping would become more popular while when a market is weaker, owners are likely to have to hold onto properties for longer in order to return a profit.”

Bathroom before celebrity renovator Cherie Barber got stuck into it. Source: Supplied

Bathroom before celebrity renovator Cherie Barber got stuck into it. Source: Supplied

The bathroom after the renovation work. Source: Supplied

The bathroom after the renovation work. Source: Supplied

Queensland’s worst place to flip properties owned between one to two years was Townsville last year where 48.8 per cent were losses.

Across the combined capitals, property flipping has gone from 5.1 per cent in 2012 to 5.7 per cent last year — a rise that was being mirrored across regional Australia as well, the report said.

Renovation queen Cherie Barber has worked on over 100 flipped projects and trained hundreds of Queenslanders to “manufacture equity” in property through renovations and upgrades.

“You can buy a profitable property at any time, but not every property on the market will be profitable,” she warned potential flippers.

Originally published: www.news.com.au

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Market Place

Brisbane’s real estate is leading the nation

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Brisbane's real estate is leading the nation

According to CoreLogic property analysts, Brisbane is leading mainland Australia in all four property performance indicators for the first time in more than a decade. But what does the record increase in home values mean if you’re looking to buy or sell the place you call home? Kieran Clair is the Director of Bricks and Mortar Media, and a regular guest on ABC Radio Brisbane on a Saturday morning. He is chatting with Loretta Ryan.

Source: www.abc.net.au

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Buying a blank canvas for your dream home: 5 big land blocks for under $540k

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Buying a blank canvas for your dream home: 5 big land blocks for under $540k
It’s becoming harder to find big blocks of land in Brisbane’s suburbs. Photo: iStock
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Market Place

Buyer interest in next-gen suburb

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Buyer interest in next-gen suburb

Each double-storey home features a mix of three-bedroom and three-bedroom-plus-study designs, complete with multi-purpose room, two bathrooms, guest powder room and generous-sized living areas.

EVERTON Hills is earmarked as a ‘next-generation’ suburb, according to developer Sunland Group.
Sunland Group managing director Sahba Abedian said local government designated Everton Hills as a next generation suburb due to its proximity to existing and future retail centres, employment, and community facilities.

Buyer interest in next-gen suburb
The kitchens will feature reconstituted stone benchtops, high-gloss cabinetry, and quality appliances, and flow seamlessly to the indoor living areas

“The arrival of Park Lane later this year, as well as the planned redevelopment of the Woolworths site in Everton Park and North-West Private Hospital, are delivering considerable amenity to The Hills District,” Mr Abedian said.

“Everton Hills also adjoins the 630ha Bunyaville State Forest, renowned for its expansive nature trails and recreation spaces.

“Grovely Train Station is an easy four-minute drive away, with direct services to the Brisbane CBD.”

Located at the centre of this wave of new infrastructure is Sunland Group’s The Hills Residences, which had already seen 50 per cent of residences sold since its April launch.

Mr Abedian said the early sales success of The Hills Residences demonstrated the inherent value of sophisticated architectural design and established amenity.

Buyer interest in next-gen suburb
Bathrooms will feature large porcelain tiles, custom-made vanities, reconstituted stone benchtops, and premium fittings.

“These homes represent the latest evolution of Sunland’s award-winning designs, featuring striking framed facades and expansive landscaping,” he said.

“Each double-storey home features a mix of three-bedroom and three-bedroom-plus-study designs, complete with multi-purpose room, two bathrooms, guest powder room and generous living areas.

“A selection of homes enjoy aspects overlooking the central park and the adjoining nature reserve.”

Mr Abedian said the kitchens would feature reconstituted stone benchtops, high-gloss cabinetry, and quality appliances, and flow seamlessly to the indoor living areas.

While bathrooms would feature large porcelain tiles, custom-made vanities, reconstituted stone benchtops, and premium fittings.

Buyer interest in next-gen suburb
The early sales success of The Hills Residences demonstrated the inherent value of sophisticated architectural design and established amenity.

“One-third of The Hills Residences is dedicated to open space, with a large central park and 3,500sq m of preserved bushland located a short stroll from every home,” he said.

“Early construction works have commenced on site, with the display home on track to be delivered in early 2019.”

Buyer interest in next-gen suburb
One-third of The Hills Residences is dedicated to open space, with a large central park and 3,500sq m of preserved bushland located a short stroll from every home.

Source: www.news-mail.com.au

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