THESE are the suburbs where foreign buyers are most keen to own a slice of Queensland
OVERSEAS based buyers are keen on securing properties in Surfers Paradise more than any other part of Queensland.
New analysis of where foreign buyers search for properties in Queensland is dominated by beachside suburbs and those close to universities.
And while many think that China-based buyers are the group buying up big in our market, it is actually potential buyers from New Zealand who are searching in Queensland more than those from any other country.
In the past six months, there were 29,494 overseas-based buyers who searched for properties in Surfers Paradise on realestate.com.au.
The second most popular area was Noosa, which chalked up 19,687 searches followed by Broadbeach with 18,751.
St Lucia, home to the University of Queensland, was the most searched Brisbane suburb with 18,199 searches by overseas buyers in the past six months.
REA Group chief economist Nerida Conisbee said while holiday hot spots were popular, Queensland’s universities had earned a strong reputation and many overseas parents wanted their children to do their study here.
As a result plenty were searching suburbs including St Lucia and Indooroopilly for places for their children to live while they studied.
Ms Conisbee said buying close to good universities was a key criteria for potential buyers from China and Singapore.
“They are very education focused,’’ she said, “while the rest of the world is all looking for Queensland beach suburbs.’’
Ms Conisbee said New Zealanders were particularly keen on searching in beach suburbs and didn’t restrict themselves to the southeast corner.
She said the restrictions on Chinese buyers moving money out of the country had, had an impact on how many were looking at property in Australia, although Queensland had not felt the downturn as much as other states.
“What is interesting though is Queensland has been the least affected. In Sydney it dropped about 44 per cent, in southeast Queensland it only dropped off around 10 per cent.
“I don’t know why, maybe Sydney is now considered too expensive, Queensland has been pretty affordable.’’
Ray White Surfers Paradise CEO Andrew Bell was not surprised Surfers Paradise was on the radar of overseas buyer.
He said it had the highest profile of any suburb on the Gold Coast and it was a natural magnet for many overseas tourists.
“I would suggest that when we consider buying it is natural to want to be as close to or part of all of those significant lifestyle choices that happen in central locations,’’ he said.
Mr Bell said it also had a wide variety of property types and price ranges so was appealing to a broad cross section of buyers.
He said there were a lot of new buildings under development at Surfers Paradise which meant it was the easiest buying option for foreign buyers.
Not only because it was easier to get foreign investment approval, but because it could be safely locked up and left when they weren’t in the country
“Most of our foreign purchasers are people who do not move here permanently but simply choose to have a holiday home here,’’ he said.
John Newlands of Professionals Surfers Paradise said the area had all the amenity international travellers and buyers were looking for.
From restaurants and high end hotels to the casino and golf courses plus high end international retailers.
Mr Newlands agreed it was mainly investors and holiday makers buying at Surfers Paradise with not so many overseas based buyers making a permanent move there.
Under Australian legislation foreign persons need to apply for foreign investment approval before buying residential real estate in Australia.
It is generally for newly built properties with an aim of their investment helping to create construction industry jobs.
Since May last year any foreign owner who leaves their property unoccupied for more than six months within a year will be charged an annual vacancy charge.
While foreign buyers are generally not allowed to buy existing properties in Australia those who are temporary residents and need a place to live can purchase as long as they sell the property when they leave Australia.
Temporary residents cannot buy established properties to rent out or for use as a holiday home.
SUBURBS MOST SEARCHED BY FOREIGN BUYERS
Surfers Paradise – 29,494
Noosa Heads – 19,687
Broadbeach – 18,751
St Lucia – 18,199
Southport – 18,134
Mooloolaba – 16,092
Burleigh Heads – 14,765
Indooroopilly – 14,142
Robina – 12,921
New Farm – 12,668
COUNTRY OF ORIGIN
Originally published: www.news.com.au
Would you pay $1.3million for this? Hoarder house filled with 100 cubic metres of junk sells for 60 times its original value after an incredible clean out and transformation
- An inner-city hoarders home has sold for 60 times its original purchase price
- Original owners had lived there for 45 years, purchasing it for just $22,000
- It took five people ten days to move 100 cubic metres of junk from the property
An inner-city hoarder’s house called ‘the worst house on the best street’ has sold for almost 60 times its original purchase price.
The property located in New Farm, a riverside inner suburb of Brisbane, sold for a whopping $1.3million at an auction on Saturday.
The original owners had lived in the property for almost 50 years, with the house last selling for $22,000 in 1973, realestate.com.au reported.
It had taken five people about ten days to move almost 100 cubic metres of junk from the premises prior to the auction.
The property’s original owners had lived in the property for more than 45 years and it took five people about ten days to move almost 100 cubic metres of junk from the premises
The property (pictured) located in New Farm, a riverside inner suburb of Brisbane, sold for a whopping $1.3million at auction on Friday, compared to selling for just $22,000 in 1973
The two-storey house, located at 140 Annie Street, pulled in more than 40 spectators including nine registered bidders.
A bidding war between interested parties saw the price hit quickly pass the seven figure mark.
Belle Property auctioneer Paul Liddy said prior to the auction he had expected the property to reach more than $1 million, describing the property as a ‘unicorn’.
‘Underneath the years of accumulated stuff, the home revealed the lovely bones as the ultimate renovator’s dream,’ Mr Liddy had told the Courier Mail.
‘I’ve only seen a handful of hoarder homes in my career, and this is the first that has blown me away with the gold we have uncovered underneath all the junk,’ he said.
Incredible photos from before its stunning transformation had showed rooms filled to the brim with junk.
‘I’ve only seen a handful of hoarder homes in my career, and this is the first that has blown me away with the gold we have uncovered underneath all the junk,’ Belle Property auctioneer Paul Liddy had said
After nine bids, and auction attendees spilling out onto the street, the house was sold under the hammer for $1.3 million
Photos after the mess had been cleared revealed an almost unrecognisable home which has further potential with more renovations.
But as the property is heritage listed, the new buyers will not be able to demolish it.
Mr Liddy said the sellers, who inherited the property, were ecstatic with the result and revealed that although they were emotional due to the house’s history, the price exceeded their expectations.
He said the buyers were a young couple not originally from Queensland, who were keen to turn it into their family home.
The most popular suburbs in Brisbane for Chinese property buyers
CHINESE buyers losing faith in their own property market are looking to Brisbane for a safer investment — and they have expensive taste. WHICH SUBURBS ARE THE MOST POPULAR?
The research by Chinese international real estate website, Juwai.com, shows Kangaroo Point had the highest number of inquiries from Chinese investors in the first half of 2018, followed by Newstead, Sunnybank, South Brisbane, Indooroopilly and Ascot.
That’s in contrast to Chinese demand for property in Brisbane in the first half of 2017 when the outer suburbs of Calamvale, Park Ridge and Rochedale were the most popular.
Juwai.com chief executive Carrie Law said the top suburbs list revealed the importance of new development, education, and convenience to Chinese buyers.
“Brisbane is attractive due to its easy lifestyle, beautiful water views, and quality English language educational institutions,’ Ms Law said.
“If you have a moderate, high-rise apartment in Brisbane, you can generally snap a beautiful selfie at the window or on the balcony with gorgeous water or district views in the background to show off to your friends at home in China.”
Ms Law said suburbs with new developments or large numbers of new house and land packages for sale were also in demand.
“Because of foreign investment rules, offshore buyers are pushed into new property to support the construction of new housing,” she said.
“It is a revelation for Chinese buyers that they can obtain a new house on its own land in Brisbane for about half the price of an inner-city apartment in Shanghai or Beijing.”
Last week, protesters ransacked a number of new apartment sales offices in China angry their investments were being sold for much less than they paid for them.
The unrest is a further sign China’s property market is beginning to cool, prompting investors to turn to places like Brisbane.
“Brisbane feels like a safe, desirable place to live,” Ms Law said.
“It often starts with a property purchase for sending a child to study or work in Brisbane. “Over time that can lead to additional investments, starting local businesses, and eventually the whole family moving to live in Brisbane.
“These buyers look for established homes with land and relatively new or like-new construction in areas with good schools for proximity to good private schools or universities.”
Brisbane is the third most popular city in Australia among Chinese property buyers.
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It ranks just below Melbourne and Sydney and just above Adelaide and the Gold Coast.
Chinese buyer demand for Australian property remains strong, increasing 10.1 per cent in the first quarter of 2018 and 4.4 per cent in the second.
But it’s a more sustainable growth rate than what the country experienced in 2016 when there was a massive run-up in Chinese demand for Australian property.
Zhen Luo and his fiancee, Yihan Lin, have just bought their first home in Sunnybank Hills, which is one of the most popular in Brisbane among Chinese buyers.
The couple from China had been looking for about six months, but eventually settled on a townhouse in the suburb with the help of Belle Property Calamvale.
Mr Luo said he thought Australia, particularly Brisbane, was a safer place to invest in property than China at the moment.
He said Sunnybank Hills was attractive because of its convenience, its proximity to shopping centres and the fact it was within the Sunnybank Hills State School catchment.
In Bardon — one of Brisbane’s most desirable suburbs — one of two architect-designed homes dubbed the Minka Twins has just sold for $1.888 million — 8 being the luckiest number in Chinese numerology.
Sold to an Asian family, the house is one of two still under construction in the suburb.
Marketing agent Di Anderson of Position Property said the new owners had two young children attending Brisbane Grammar, and were keen on securing a home that would
suit Brisbane’s subtropical climate.
“They were keen to purchase prior to completion to ensure they secured the property,” Ms Anderson said.
“As a result, the developer agreed to a small discount for buying during construction.”
TOP BRISBANE SUBURBS FOR CHINESE BUYERS IN H1 2018
1. Kangaroo Point
4. South Brisbane/West End
7. Sunnybank Hills
8. St Lucia
(Source: Juwai.com, ranked by number of purchasing inquiries)
TOP BRISBANE SUBURBS FOR CHINESE BUYERS IN H1 2017
1. Fortitude Valley
5. Park Ridge
7. East Brisbane
8. Russell Island
(Source: Juwai.com, ranked by number of purchasing inquiries)
Originally published as Chinese buyers look to Brisbane
Healthy Brisbane full list: Brisbane’s suburbs rated by health opportunities
The Domain Healthy Brisbane study, authored by Deloitte Access Economics and Tract Consultants, compares 260 Greater Brisbane suburbs across 10 indicators that either help or hinder residents from leading a healthy lifestyle.
These include walkability, access to fresh food, proximity to hospitals and allied health facilities as well as hindrance factors like density of fast food and liquor stores.
Based on the scores across these indicators, each suburb was given a rating out of five stars. It’s important to note the study is about place, not people – it is designed to increase understanding of the opportunities suburbs provide residents to live a healthy lifestyle.
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