Connect with us

Market Place

10 QLD suburbs that smashed records in 2017/18

Published

on

10 QLD suburbs that smashed records in 2017/18

Andrew Stone and Naomi Freney with their kids Remy Freney 6, Chelsea Stone 7 and Easton Freney 10 at the house they recently bought in Bundall, where the median house price recently burst through the $1m barrier.Source:News Limited

THEY are the state’s high achievers.

The suburbs that have outperformed their peers in the residential property stakes; breaking records for sale price, number of sales, days on market or for smashing through the million-dollar median price ceiling.

Benchmarks have been beaten in blue-chip areas like Ascot, Sunshine Beach and Surfers Paradise, as well as suburbs on the rise, including Kalinga and Underwood.

Records were smashed in at least 10 suburbs across the state in the past 12 months— an indicator of a shortage of stock and increase in demand in a number of competitive markets.

Here are some of Queensland’s benchmark busters of 2017/18:

ASCOT

The standout record-breaker in Brisbane was the sale of the trophy home of Domino’s Pizza boss Don Meij in Ascot.

The $11 million sale price of 27 Sutherland Avenue in March set a new record for the inner-city, blue-chip suburb.

It was also Brisbane’s highest sale of the past financial year.

10 QLD suburbs that smashed records in 2017/18

This home at 27 Sutherland Ave, Ascot, sold for $11m.Source:Supplied

Patrick McKinnon of Place Ascot, formerly of Coronis Hamilton, brokered the deal and said Mr Meij sold after receiving an off-market offer from a buyer who had fallen in love with the property.

Set on a sprawling 2024 sqm, the lavish home has six bedrooms, six marble ensuites and a jaw-dropping outdoor entertaining space with resort-style gardens, infinity-edge pool, pool house with outdoor kitchen and verandas.

10 QLD suburbs that smashed records in 2017/18

Inside the home at 27 Sutherland Ave, Ascot.Source:Supplied

BRENDALE

The fastest selling suburb in Queensland is Brendale in the Moreton Bay region, where the median house price is still an affordable $461,000.

It takes, on average, just 11 days to find a buyer, according to CoreLogic.

According to the latest Census data only 14.5 per cent of properties in the suburb are houses. With so few houses available, demand can be strong when something new is listed.

BUDERIM

The Sunshine Coast hinterland suburb had the highest number of houses change hands in 2017/18, with 573 houses selling in the 12 months to May, according to CoreLogic.

The owners of a majestic property at 10 Orme Rd, Buderim, that once hosted royalty have embarked on a new push to sell it.

10 QLD suburbs that smashed records in 2017/18

Buderim House at 10 Orme Rd, Buderim, is for sale.Source:Supplied

With all the focus on the royal newlyweds of late, it’s only fitting this heritage-listed Queenslander now holds extra appeal, given it was the residence of choice for the Duke of Gloucester during a royal visit in 1934.

The grand residence on 6315 sqm was built circa 1913 on the highest point of the northern slope of Mt Buderim, overlooking the Maroochy coast and river valley.

10 QLD suburbs that smashed records in 2017/18

Inside Buderim House at 10 Orme Rd, Buderim, which is for sale.Source:Supplied

BUNDALL

This Gold Coast suburb made the million dollar club for the first time in 2017/18, with its median house price now $1.05 million.

The sale of a waterfront mansion at 8-10 Marseilles Court this year for $9 million also broke the suburb’s sale price record — trumping the $8 million sale achieved in 2009 for a house in the same street.

The resort-style home has five bedrooms and seven bathrooms and is on a huge, 2703 sqm riverfront block.

REIQ Gold Coast Zone chairman Andrew Henderson said the new record was not surprising given the Coast’s strong market and he was confident property values would continue to soar.

Andrew Stone and his partner, Naomi Freney, recently bought a five-bedroom house, which they renovated, in Bundall for $620,000.

Mr Stone said he considered it a bargain given how tightly-held the suburb had become and the increase in house prices.

“I think we probably hit pot luck with that place,” Mr Stone said.

“People had been saying that area was going to go up 20 years ago and all of a sudden, it’s growing and there’s not a lot of turnover anymore.”

Ben Latimer of LJ Hooker Southport said Bundall’s transformation into a record-breaking suburb had happened gradually.

“It’s desirable because it’s so close to everything and there’s a good mixture of waterfront and dry blocks,” he said.

Paul Nikolas agrees.

He’s been buying, renovating and selling homes in Bundall for the past six years.

The last house he sold there earned him a profit of around $700,000.

He’s now selling his latest project at 19 Donegal Crescent for a cool $3.995 million.

“I’ve found a niche market here — nice, older properties on the water,” Mr Nikolas said.

10 QLD suburbs that smashed records in 2017/18

This house at 19 Donegal Cres, Bundall, is for sale.Source:Supplied

10 QLD suburbs that smashed records in 2017/18

The view from the house at 19 Donegal Cres, Bundall.Source:Supplied

COORPAROO

The inner Brisbane suburb achieved a new sale price record when a landmark house sold for $5.025 million just last month.

Designed by architect Eric Trewern, the English-inspired home known as Thongabel at 4 Welwyn Crescent captures views of the entire Brisbane City skyline.

10 QLD suburbs that smashed records in 2017/18

This house at 4 Welwyn Cres, Coorparoo, sold for a record price for the suburb.Source:Supplied

The five-bedroom, three storey house had been renovated with architectural features including Tulip Oak timber floors, Italian tiles and travertine.

Other highlights included a library, gym, climate controlled wine cellar, formal office, heated lap pool, heated horizon spa and outdoor space for kids to play.

Just 4km from the CBD and with a number of good Catholic and private schools on offer, Coorparoo has become one of Brisbane’s most sought-after suburbs.

The median house price sits at $875,000, according to CoreLogic.

10 QLD suburbs that smashed records in 2017/18

Inside 4 Welwyn Cres, Coorparoo, which sold for $5.025m in 2018.Source:Supplied

KALINGA

The tiny, up-and-coming suburb in Brisbane’s inner north made it into the million dollar club for the first time in 2017/18.

Its median house price broke through the $1 million barrier in late 2017 and currently sits at $1.04 million.

In November, 2017, records show the offmarket sale of a house at 119 Nelson Street for $4 million set a new price record for the suburb.

MANLY

Brisbane’s bayside is a sleeping giant only held back by lack of stock, according to one of Manly’s leading agents.

The suburb set a new sale price record for both houses and units in the past financial year.

Marc Sorrentino of Place Manly recently sold a unit in the seaside suburb for a whopping $1.2 million — smashing the previous record price paid for an apartment there by $345,000.

10 QLD suburbs that smashed records in 2017/18

This apartment at 301/177 Melville Tce, Manly, has sold for $1.2m.Source:Supplied

A couple from Sydney snapped up the luxurious three-bedroom, two-bathroom pad at 301/177 Melville Terrace, which had been advertised for offers over $1.1 million.

The median unit price in Manly, just 15km from Brisbane’s CBD, is $485,000, according to property research firm CoreLogic.

Late last year, Mr Sorrentino sold a family home on a huge, waterfront block at 497 Royal Esplanade for $3.9 million — smashing the suburb record for the sale price of a house.

10 QLD suburbs that smashed records in 2017/18

The sale of this house at 497 Royal Esp, Manly, set a new record for the suburb.Source:Supplied

“I keep saying it’s Australia’s best kept secret, but you watch. The prices are just going to keep going up and up and up,” he said.

“There’s just been a lack of good stock.”

SUNSHINE BEACH

The sale of a beach house in Sunshine Beach for $18 million in March set a new price record for the entire Sunshine Coast region.

10 QLD suburbs that smashed records in 2017/18

This mansion at 21-23 Webb Rd, Sunshine Beach, QLDSource:Supplied

The seven-bedroom, eight-bathroom property at 21-23 Webb Road was bought by David Russell, the owner of private equity group Equis Energy.

Just streets away, former tennis star Pat Rafter’s beachfront home sold for $15.2 million to Betty’s Burger founder David Hales, within weeks of the Webb Road sale.

10 QLD suburbs that smashed records in 2017/18

The former home of tennis star Pat Rafter at 46 Seaview Tce, Sunshine Beach.Source:Supplied

SURFERS PARADISE

A whopping 1398 units were sold in the Gold Coast’s glitziest suburb in the past financial year — more than any other property type in any other suburb.

It seems only fitting then that the most expensive penthouse Queensland has ever seen is under construction in Surfers Paradise.

10 QLD suburbs that smashed records in 2017/18

An artist’s impression of one of the apartments inside the Spirit 89 tower at Surfers Paradise.Source:Supplied

Priced at a whopping $41m and spread across two full floor levels, the highest home in the $1.2 billion Spirit 89 building easily tops the list of Queensland’s most expensive penthouses.

The 1899sq m sky home will also be one of the largest in the country, almost twice as large as Hong Kong billionaire Tony Fung’s $7.95 shell of a penthouse in the Soul building, and just a fifth smaller than the hyper-exclusive Boyd Residence above ANZ Tower in Sydney — which at $66m is Australia’s most expensive penthouse.

“Without the spire on Q1, it is the tallest residential building in Queensland,” agent Julian Sutherland of Ray White Projects told The Courier-Mail.

10 QLD suburbs that smashed records in 2017/18

An artist’s impressions of the Spirit 89 tower at Surfers Paradise.Source:Supplied

UNDERWOOD

The working class suburb in Brisbane’s south experienced the highest capital growth in Queensland in the past 12 months.

The Logan suburb’s median house price climbed nearly 25 per cent to $601,345 in the past financial year.

Underwood’s median house price also jumped a massive 65.6 per cent between May 2008 and May this year — the highest growth of any Brisbane suburb in the past decade.

CoreLogic senior research analyst Cameron Kusher told The Courier-Mail it was “a bit surprising” given the suburb’s location, 17km from Brisbane’s CBD, but its affordability and access to the highway and Gold Coast made it attractive.

“But its median (house) price is now up over $600,000, so it’s not really that cheap anymore,” Mr Kusher said.

Source: www.news.com.au

Continue Reading
Advertisement
Click to comment

Leave a Reply

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

Market Place

Top 68 suburbs for growth in Queensland revealed

Published

on

Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.

Top 68 suburbs for growth in Queensland revealed

Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.

The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.

Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:

  • Spring Mountain with growth of 103.6 per cent;
  • Collinsville with growth of 46.2 per cent;
  • Minyama with growth of 45.8 per cent;
  • Hamilton with growth of 32.9 per cent;
  • Hollywell with growth of 30.5 per cent;
  • Miles with growth of 23.5 per cent;
  • Mount Coolum with growth of 21.9 per cent;
  • Dundowran beach with growth of 21.5 per cent;
  • Boonah with growth of 21.3 per cent; and
  • Idalia with growth of 21.3 per cent.

Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.

It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”

South-east Queensland

While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.

Of these, 15 suburbs were located in the Sunshine Coast region, with the highest growing being Minyama, which ranked fourth overall.

The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.

Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.

Regional Queensland

Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.

Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.

While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.

The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each

Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed

The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:

RankSuburbMedian priceCapital growth over 12 months (as a percentage)
1Blackwater$94,250151.3%
2Spring Mountain$450,000103.6%
3Collinsville$95,00046.2%
4Minyama$1,310,00045.8%
5Hamilton$1,442,00032.9%
6Hollywell$810,00030.5%
7Miles$148,25023.5%
8Mount Coolum$670,00021.9%
9Dundowran Beach$607,00021.5%
10Boonah$324,50021.3%
11Idalia$485,00021.3%
12Rasmussen$347,50019.9%
13Yaroomba$749,00019.7%
14Biloela$272,75018.6%
15Burnett Heads$317,00018.1%
16Tivoli$295,00018.0%
17Cashmere$690,00018.0%
18Walloon$370,00016.7%
19Sunshine Beach$1,400,00016.7%
20Noosa Heads$1,070,00016.0%
21Hope Island$739,75015.7%
22Ripley$374,00015.4%
23Sandgate$705,00015.2%
24North Ward$575,00015.0%
25Paddington$1,150,00014.7%
26Palm Cove$606,00014.3%
27Charters Towers City$142,50014.0%
28Pelican Waters$761,00013.9%
29Cooee Bay$313,00013.8%
30Mount Ommaney$944,00013.7%
31Fernvale$357,50013.5%
32The Range$380,00013.4%
33Landsborough$432,50013.4%
34Sunnybank$832,50013.3%
35North Mackay$270,00013.2%
36Whitfield$540,00013.1%
37Graceville$932,50013.0%
38Hendra$1,100,00012.7%
39Shorncliffe$840,00012.4%
40Moranbah$185,00012.1%
41Coes Creek$442,50012.0%
42Cooloola Cove$317,50012.0%
43Battery Hill$578,00012.0%
44Seven Hills$940,00011.9%
45Nundah$755,00011.9%
46Monkland$240,00011.6%
47Bongaree$470,00011.6%
48Clifton Beach$557,50011.5%
49Maroochydore$639,00011.2%
50Twin Waters$823,00011.2%
51Cambooya$322,50011.2%
52Tewantin$572,50011.2%
53Coolum Beach$675,25011.2%
54Kedron$744,50011.1%
55Sunrise Beach$820,00011.0%
56Oakey$241,50011.0%
57D’aguilar$416,00010.9%
58Mountain Creek$610,00010.9%
59Flinders View$371,50010.9%
60Highland Park$570,00010.7%
61Rosewood$291,00010.7%
62Bulimba$1,300,00010.6%
63Kirkwood$353,50010.5%
64Woodgate$402,50010.3%
65Railway Estate$309,50010.1%
66Auchenflower$1,070,00010.0%
67Rainbow Beach$489,50010.0%
68Ormeau Hills$530,00010.0%

Top 68 suburbs for growth in Queensland revealed.

Source: smartpropertyinvestment.com.au

Continue Reading

Market Place

Brisbane’s median home price deceptively low

Published

on

Brisbane’s median home price deceptively low

Brisbane’s median home price deceptively low

Brisbane’s median home price deceptively low. LATEST analysis shows Brisbane’s significantly more affordable median home price is deceptively low, given only three areas sit below the citywide median.

At $491,925, Brisbane’s median was over 40 per cent cheaper than Sydney ($833,876) and just over 25 per cent less than Melbourne ($655,044).

But when CoreLogic research analyst Cameron Kusher broke it down in zones around the capital, the data told a different story.

“While that ($491,925 is substantially lower than Sydney and Melbourne you can see that all of the regions relatively close to the city have current median values which are higher than that,” he said.

“The most expensive region of the city is the West ($659,554) while the most affordable is Ipswich ($350,511).

“Only three SA4 regions of the city actually have a median value which is lower than the citywide median.”

Brisbane’s median home price deceptively low

The cafe lifestyle in inner-city New Farm is part of the reason that median prices there are definitely above the citywide average. Picture: Annette Dew.Source:News Corp Australia

Those three SA4 regions of Greater Brisbane were Ipswich with a median property value of $350,511, Logan-Beaudesert on $387,401 and Moreton Bay — North on $413,962.

All the rest had medians that were above the official median Brisbane dwelling led by Brisbane West where the median of $659,554 was higher than that of Melbourne.

Brisbane South’s median was $639,457, followed by Brisbane Inner City $584,539), North ($549,231), East ($548,746) and Moreton Bay — South $501,509.

The closer you are to desirable attributes such as the river, the higher prices tended to go, according to the analysis.

“Desirable areas close to the city centre typically have much more expensive housing costs than the broad capital city median,” Mr Kusher said.

“Although it is clichéd, location, location, location holds true and purchasers still pay a significant premium for well-located properties.”

Mr Kusher said the data gave “a more granular insight into how median values in each city compare to smaller regions across each city”.

Buyers were well advised to look at markets closer “as housing costs or the housing market performance can be vastly different when you look at different areas of a city”.

Source: news.com.au

Continue Reading

Market Place

Regional suburbs record double digit capital growth

Published

on

Regional suburbs record double digit capital growth

Regional suburbs record double digit capital growth

Regional suburbs record double digit capital growth. TOWNSVILLE has emerged as a star performer in regional Queensland, with four suburbs recording double digit growth.

REIQ has revealed the 68 suburbs that recorded double digit growth in the 12 months to June.

Twenty-seven of those 68 top performing suburbs were outside of the southeast, with Townsville dominating the regional listings.

REIQ CEO Antonia Mercorella said Idalia (+21.3% to $485,00 as of June) was a rapidly expanding suburb, located just 10 minutes from the Townsville CBD, and offering access to shopping centres, restaurants, beautiful landscaping around parks, lakes and the Ross River.

It is dominated by older houses and luxury new homes, with properties ranging from the “low to mid $300,000s” to over $1 million.

 

Regional suburbs record double digit capital growth

REIQ CEO Antonia Mercorella

 

“Idalia in Townsville ranks 11th on the state list and first on the Townsville LGA list,” she said.

The other Townsville suburbs to make the top 68 were Rasmussen (+19.9), North Ward (+15%) and Railway Estate (+10.1%).

Keyes and Co Property agent, and former Townsville City councillor, Tony Parsons, said there were suburbs doing well, and others that were still struggling, but there were positive signs in the local property market.

Regional suburbs record double digit capital growth

Regional suburbs record double digit capital growth

This four bedroom house at 47 Springside Terrace in Idalia is on the market for $868,000 and is listed with Keyes & Co

He said Idalia ticked a lot of boxes for families, but he was not surprised by the city’s other top suburbs with two of them “fringe suburbs” of the new stadium under construction.

Regional suburbs record double digit capital growth

North Queensland Stadium under construction in September 2018 Townsville

“North Ward and its proximity to The Strand speaks for itself, and Railway Estate has some of that character housing stock that many couples are keen on, those reno jobs.”

As for Rasmussen, the suburb has benefited from a number of new housing estates including a Defence Housing Australia development, and the duplication of Riverway Drive.

Mr Parsons said buyers could still get a bargain.

Regional suburbs record double digit capital growth

Australian hydrofoil championships off The Strand, Townsville.

Meanwhile, Cairns and Gympie had three suburbs on the list of top performers.

Palm Cove was the best performer in Cairns, ranking 26th overall.

Cooloola Cove in Gympie ranked 42nd, with house prices up 12 per cent to $317,500 in June 2018.

In the Whitsundays region, only Collinsville, a coal town southwest of Bowen, made the list, taking out third spot overall.

Ms Mercorella said Collinsville recorded an annual capital growth for houses of 46.2 per cent, taking the median sales price to $95,000 in June.

Other regions reporting at least one suburb on the list were Bundaberg, Toowoomba, Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs.

“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.

In terms of price, the REIQ analysis found that two very different brackets dominated the list — below $350,000 and above $500,000 but below $750,000.

“Eighteen top performing suburbs reported a median house price range below $350,000,” Ms Mercorella said.

“Most of these suburbs are located in regional Queensland.”

Similarly, 18 top performers reported an annual median house price range between $500,000 and $749,999 … 13 of these suburbs are located in the southeast corner.

“Only 8 top performing suburbs reported an annual median price range above $1 million. All these suburbs are located in Brisbane, Noosa or the Sunshine Coast LGA.”

Regional suburbs record double digit capital growth

TOP 10 PERFORMING REGIONAL QUEENSLAND SUBURBS, RANKING/1 YR CAPITAL GROWTH

Blackwater (1st) +151.3%

Collinsville (3rd) + 46.2%

Miles (7th) +23.5%

Dundowran Beach (9th) +21.5%

Idalia (11th) +21.3%

Rasmussen (12th) +19.9%

Biloela (14th) +18.6%

Burnett Heads (15th) +18.1%

North Ward (24th) +15%

Palm Cove (26th) +14.3%

(Source: REIQ QMM report June 2018. )

Source: sunshinecoastdaily.com.au

Continue Reading

Positive Cashflow

duplex designs, dual occupancy homes

Trending