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The quiet Brisbane suburb that analysts say is booming in value

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The quiet Brisbane suburb that analysts say is booming in value

ALTHOUGH the booming property market in Sydney and Melbourne has dominated the headlines, one of the strongest growing suburbs across Australia over the last 12 months was in Brisbane.

Yeronga in Brisbane’s south scored the number two spot in the Top Performing Suburbs Report from real estate analytics company CoreLogic.

The report had a look at the rate of growth over the last 12 months across a number of consistently strong performing suburbs.

Cockatoo, a small town 48km south east of Melbourne was the top of the list, with its median house value growing by 41.6 per cent over the last 12 months to $569,177.

Yeronga has a slightly lower median value growth over 12 months of 40.9 per cent according to the report.

Head of research at CoreLogic Cameron Kusher said this was from valuation data rather than sales data, and as Yeronga was a tightly held suburb with a small number of recent sales the rapid increase in value had not yet been seen in increased sales prices.

“It is more of a holistic approach,” Mr Kusher said.

Of the top 50 suburbs named in the report, only two Queensland suburbs made the cut.

Mr Kusher said Yeronga might not seem cheap, with homes currently having a median sales price of just under $900,000, but when compared to equivalent suburbs in Sydney and Melbourne it looked like good value for many buyers.

“Something close to the river and close to the city is pretty desirable,” he said.

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Market Place

Interstate buyers flood the Brisbane market for classic family Queenslanders

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Interstate buyers flood the Brisbane market for classic family Queenslanders
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These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

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These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

300 Kent St, New Farm. Picture: realetate.com.auSource:Supplied

THESE greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you.

The value of greater Brisbane’s property market is continuing to grow with new figures revealing there are now 24 suburbs with a median house price of more than $1 million.

The highest is Teneriffe which was the first suburb to breach the $2 million median market and now has a median house price of $2.2 million.

It is followed by neighbouring suburb New Farm which has a median house price of $1.725 million.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

300 Kent St, New Farm. Picture: realetate.com.auSource:Supplied

You’ll need to travel a little further for the suburb with the third highest median house price – Pallara, which currently sits at $1.51 million.

In Teneriffe, $1.785 million will buy you a restored, three-bedroom, former worker’s cottage at 300 Kent Street.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

300 Kent St, New Farm. Picture: realetate.com.auSource:Supplied

The home has VJ walls, the internal rooms have been reconfigured and original hoop pine floorboards uncovered.

New Guinea rosewood, custom built-in joinery is used throughout the home. There are two freestanding “pods’’ underneath one of which houses the laundry and bathroom, the other a secondary kitchen which leads to a two-tiered entertainment deck with built-in concrete seating.

It is listed through Karla Lynch and Matt Lancashire of Ray White New Farm.

At New Farm, a four-bedroom home at 30 Turner Ave is listed for sale. The contemporary home has a 2000-plus, climate-controlled wine cellar with remote controlled doors, home office, powder room and guest bedroom.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

30 Turner Ave, New Farm.Source:Supplied

Outdoors is a patio and outdoor kitchen and a heated swimming pool with built-in spa jets, and the lower level has a three-car garage. It is listed through Sarah Hackett of Place – Bulimba.

The high median house price at Pallara is indicative of the number of large blocks being sold for future housing development.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

30 Turner Ave, New Farm.Source:Supplied

A three-bedroom home at 112 Esky Rd on 14,780sq m of land is scheduled for auction on July 14.

The property is fully fenced and is described as ideal for self-sustainable living. There are already coffee trees and established fruit trees and a chook pen and run. The property has a total of 45,000 litre rainwater tanks plus town water.

Inside the home are open living areas, a wood heater and ducted airconditioning throughout. The kitchen has a built-in pantry and a breakfast bar.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

112 Esky Rd, PallaraSource:Supplied

It is listed through Brandy Mandic and Char Gribble of Raine & Horne.

Source: www.news.com.au

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Brisbane apartment slump over with values set to rise: Moody’s

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Brisbane apartment slump over with values set to rise: Moody’s

The latest housing report believes “the worst is over” for the housing slump, especially in the apartment sector.Source:News Corp Australia

RELIEF may be in sight for Brisbane apartment owners, with latest forecasts predicting “the worst is over” for the region’s unit market with values set to rise this year.

The CoreLogic-Moody’s Analytics Australian Home Value Index Forecast said Greater Brisbane would see a massive 6.5 per cent rise in apartment values next year, which comes after several years of oversupply warnings across the region.

It expected apartment values overall across Greater Brisbane to recover this year, growing 0.8 per cent in 2018, after backsliding -2.9 per cent last year.

The report expected 80 per cent of the region to see apartment values go into positive territory this year, with only the Brisbane Inner City (-3.5 per cent) and Moreton Bay — South (-3.3 per cent) to lag in negatives.

Next year though was expected to see all ten sectors of Greater Brisbane get back in the black — with the biggest rise to come out of Moreton Bay — North units (8.7 per cent), following by those in Ipswich (8.1 per cent).

The lowest growth in apartment values was expected to be 3.5 per cent coming out of both Brisbane — North and Brisbane — South.

Brisbane apartment slump over with values set to rise: Moody’s

CoreLogic-Moody’s Analytics Australian Home Value Index Forecast: June 21, 2018Source:Supplied

It found apartment approvals outnumbered housing approvals on average by 2.3 to 1 from 2012 to 2016 in Brisbane — South, which saw apartment values decline 3.8 per cent last year.

“However recently, approvals between the two asset classes have converged. This will likely see apartment values rebound 1.3 per cent in 2018,” the report said, with the pace picking up in the new year to 3.5 per cent.

No other part of the state had the same oversupply issues as Brisbane did, the report said, with “lifestyle” areas such as the Sunshine Coast, Wide Bay, and Cairns expected to perform better with housing values forecast to rise 5.7 per cent this year and close to 2 per cent in 2019.

Home values on the Gold Coast were also expected to rise almost 4 per cent this year and 6 per cent in 2019, while in resource areas like Central Queensland, Mackay-Isaac-Whitsunday, and Darling Downs-Maranoa “further declines in house values are expected before a recovery”.

“For Mackay-Isaac-Whitsunday, house values are expected to decline 4.8 per cent for 2018. However, as incomes stabilise and unemployment improves, the market could see a 1.7 per cent recovery in 2019,” the report said.

BRISBANE APARTMENT GROWTH FORECASTS (%)

2018 0.8 2019 6.5 Greater Brisbane

2018 3.3 2019 3.5 Brisbane — East

2018 0.3 2019 6.9 Brisbane — North

2018 1.3 2019 3.5 Brisbane — South

2018 0.9 2019 5.3 Brisbane — West

2018 -0.3 2019 6.1 Brisbane Inner City

2018 2 2019 8.1 Ipswich

2018 1 2019 8 Logan — Beaudesert

2018 1.6 2019 8.7 Moreton Bay — North

2018 -0.1 2019 5.9 Moreton Bay — South

(Source: CoreLogic-Moody’s Analytics Australian Home Value Index Forecast)

Source: www.news.com.au

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