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Brisbane property buyers back within 24 hours of the federal election result

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Brisbane property buyers back within 24 hours of the federal election result

Brisbane buyers have made an astonishingly speedy return to the property market, with multimillion-dollar properties being snapped up within days of the federal election result.

Inner-city agents have reported an immediate uptick following the Coalition’s unexpected victory two weeks ago and are now finding themselves with too many buyers and not enough properties to sell.

Judi O’Dea of Ray White Paddington said the hiatus that occurred in the market prior to the election was immediately lifted as soon as the result became clear.

“Our phones have switched back on. Buyers are back in the Brisbane property market, especially around the inner city,” she said.

“There’s now a golden opportunity for sellers here because all of a sudden, we’ve got all these buyers seriously wanting to buy property but we don’t have enough stock.”

Brisbane property buyers back within 24 hours of the federal election result 1

Ms O’Dea said a buyer from Sydney flew his wife up last weekend to look at 15 The Drive, Bardon, a six-bedroom, four-bathroom Queenslander, who then made a cash, unconditional offer for $1.31 million on the spot — knocking a number of local buyers out.

“They had been looking for a little while and with the election over, they wanted to make a decision,” Ms O’Dea said.

Place Estate Agents director Sarah Hackett said the effect of the election result was immediate, with open house numbers the highest they had been in years and a record number of properties coming to market.

“I didn’t expect the win and I didn’t expect the confidence to return so quickly, but [it’s] absolutely great,” she said.

“Literally the day after the election we sold 146 Virginia Avenue, Hawthorne, for $6.025 million, which was the highest sale for the month of May.

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“The following week we then sold 33 Addison, Bulimba for $2.85 million prior to the auction. Further, a London buyer who had been considering 65 Longman Terrace, Chelmer for one month, purchased a week after the election.”

Alex Jordan of McGrath Paddington said prior to the election, buyers had been using Labor’s predicted win as a bargaining tool during negotiations.

He sold 53 Bernhardt Street, Paddington, for $2.8 million the Saturday before the election result. He said the buyer had made the deal based on Labor winning the election.

“Interestingly enough, in the weeks leading into the election, the buyers would use it as leverage. They would say ‘Labor is going to come in and because of that I’m only prepared to offer that much’,” he said.

“Now, with Labor having been defeated, they’ve been disarmed and don’t have that leverage any more. Out of all the elections I’ve seen over my 20 years in this job, this one was the one that has resulted in the most immediate change of sentiment.”

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Mr Jordan said the election result had an immediately positive effect on Brisbane’s property market.

“There was an immediate shift. On Sunday, the day after the election result, I got more emails, texts and calls than I’d had for several months,” he said.

“Some buyers who I’d emailed and never responded suddenly got back to me. The stock shortage is noticeable, buyer numbers have increased, and sellers are now more relaxed about the market and not rushing to sell.

“It all bodes well for growth.”

 

Source: www.domain.com.au

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Smart buys: Brisbane’s best properties under $800,000 for sale right now

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Smart buys Brisbane’s best properties under $800,000 for sale right now

Here’s our pick of the best buys in Brisbane and some of its surrounds at the moment — and they’re all under $800,000.

34 Ivy Street, Toowong

Smart buys Brisbane’s best properties under $800,000 for sale right now 1

With tongue-and-groove floorboards, a cast-iron fireplace begging for love, a sunroom, and a prime position on 405 square metres, this three-bedroom original workers’ cottage is bound to catch eyes of inner-west renovators. No price has been set yet but agent Alex Jordan says as a vacant block on land it would achieve over $600,000.

By negotiation

McGrath, Alex Jordan 0410 424 749

81 Payne Road, The Gap

Smart buys Brisbane’s best properties under $800,000 for sale right now 2

The rear of this multi-tone brick house surprises. There’s a single-garage-cum-workshop or home office between the double carport and an elevated timber sundeck, and there’s also a pool. It is fully fenced on a 625-square-metre block, and has three bedrooms with a further small room inside that could become a fourth bedroom or study.

$725,000

Harcourts, Stephen Dangerfield 0412 145 802

48 Bringelly Street, Arana Hills

Smart buys Brisbane’s best properties under $800,000 for sale right now 3

From its white picket fence to its flat sandpit-friendly backyard, the DNA of this three-bedroom, one-bathroom house is pure family. Set on a flat 607-square-metre block about 20 metres from the local bus stop, Grovely State School is 900 metres away and Arana Hills Plaza, restaurants and cafes are at the end of the street.

$486,000

Coronis, Jo Dryden 07 3351 5151

19 Allamanda Crescent, Albany Creek

Smart buys Brisbane’s best properties under $800,000 for sale right now 4

This substantial four-bedroom, double-storey house sits on a 1250-square-metre landscaped block. It has ample room for its pool and double garage, and there is a massive covered entertaining area and both casual and formal living and eating rooms. Two state high schools are located within 2.4 kilometres of the front door.

$779,000

Style Real Estate, Claire Little 0422 755 171

40 O’Quinn Street, Nudgee Beach

Smart buys Brisbane’s best properties under $800,000 for sale right now 5

This 54-year-old updated beauty on a double block opposite the beach offers three bedrooms, three bathrooms and 1000 square metres of land. Open-plan living and dining space, plenty of natural light, timber floors, and a second living area with clever built-in bench seating and storage are boons. The rear has a storage shed, two garden sheds and a single garage.

$789,000

Calio & Scott Real Estate, Carl Calio 0416 145 288

6 Chase Crescent, North Lakes

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Worth a look if a first-time home buyer, or investor watching budget-friendly growth areas, this super neat, modern three-bedroom, two-bathroom house also has a double garage. It is set on a low-maintenance and landscaped 486-square-metre block. It also has decent-sized, open-plan living and media rooms.

$439,000

Hudson Property, Viv Robinson 0407 918 184

50 Windsor Place, Deception Bay

Smart buys Brisbane’s best properties under $800,000 for sale right now 7

This two-bedroom, one-bathroom cottage on a 397-square-metre corner block has serious update or rebuild potential. Set three blocks west of Moreton Bay and one block to the suburban public primary school, it is liveable as a home or easily rentable with a modern kitchen and fenced backyard. It has a separate sunroom and a single carport.

$260,000-$280,000

Ray White, Lydia Robins 0438 166 763

441 Beenleigh Road, Sunnybank

Smart buys Brisbane’s best properties under $800,000 for sale right now 8

This renovated, four-bedroom, one-bathroom house has parking space for two cars on a 708-square-metre block. The floor plan is open between living, dining and kitchen areas and the metro rail station is about 400 metres away. Its reserve price is unknown as required by Queensland auction laws, but it was found in a search for homes under $800,000.

Auction, June 29, 12.30pm

RE/MAX, Gary Dellios 0411 879 935

4 Parliament Street, Bethania

Smart buys Brisbane’s best properties under $800,000 for sale right now 9

The federal election is done for 2019, but here is another way to get into Parliament. With three bedrooms and one bathroom, this brick-and-tile house also has a double carport and a double garage. On a flat 758-square-metre block, the back section is contained making for a fine play zone. Neutral timber-look flooring in the kitchen-meals area balances the retro swirl carpet in the living-dining.

$339,000-$369,000

LJ Hooker, Trina Wilson 0427 188 500

 

 

Source: www.domain.com.au

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Cbus Property Plans $600m North Quay Tower

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Cbus Property Plans $600m North Quay Tower

Cbus Property will partner with local Brisbane developer Nielson Properties to deliver a $600 million riverfront commercial building in the city’s CBD.

The 3,000sq m corner site, an amalgamation of 205 North Quay and neighbouring 30 Herschel Street, will now house the city’s latest A-grade commercial building.

The office development, to be known as 205 North Quay, will deliver 50,000sq m of net lettable area.

Cbus Property chief executive Adrian Pozzo said the site was ideal as it takes advantage of Brisbane’s strong economic outlook, employment growth and the state government’s infrastructure investment.

“205 North Quay is a major ­riverfront CBD site, ideally located to capitalise on the major infrastructure projects nearby such as the recently announced Roma Street Station, Brisbane Metro, Cross River Rail and Brisbane Live,” Pozzo said.

“Queensland’s economic growth also anticipated to continue to outperform the Australian average.”

“We will look to build on these strong economic foundations and our past success with 1 William Street, to deliver a premium and future-focused commercial tower for Brisbane’s CBD in collaboration with our partner, Nielson Properties.”

No stranger to Brisbane CBD’s commercial market, the project follows Cbus Property’s 46-storey “tower of power” at 1 William Street, home to the Queensland government.

The 205 North Quay development will add to the continued regeneration of the burgeoning North Quarter precinct, which will also include Mirvac’s 80 Ann Street tower to be tenanted by Suncorp, Shayher Group’s 300 George Street project and the recently completed W Hotel on George Street.

The development will also be located in Brisbane’s prime commercial district, capitalising on the major infrastructure projects nearby such as the recently announced Roma Street Station, Brisbane Metro, Cross River Rail and Brisbane Live.

“As a local Brisbane developer, we’re excited to be a part of the evolution of the North Quarter as it becomes a vibrant hub bolstered by outstanding connectivity to Brisbane’s CBD and premium infrastructure and amenity,” Nielson Properties director Ross Nielson said.

Cbus and Nielson have commenced preliminary discussions with the Brisbane City Council.

Last week, Brisbane-based Sentinel Property Group snatched up Makerston House, a neighbouring commercial property in Brisbane’s North Quarter precinct from investment management company Challenger for $103 million.

Further along the CBD riverfront, work has also commenced at the $3.6 billion Queens Wharf developed by the Destination Brisbane Consortium, a joint venture led by casino giant Star Entertainment Group, Far East Consortium and Chow Tai Fook Enterprises.

Work is also under way on Brisbane’s newest riverside public space, with the area between the Goodwill Bridge and 1 William Street to be developed into an above-water pedestrian walkway and recreational area called Waterline Park.

 

 

Source: theurbandeveloper.com

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‘Why not Hendra?’ The luxury house that is poised to set a new benchmark for this Brisbane suburb

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Why not Hendra The luxury house that is poised to set a new benchmark for this Brisbane suburb

A prestigious new property in Hendra is tipped to break records when it goes under the hammer in a couple of weeks, setting a new benchmark for luxury in the area.

The five-bedroom, four-bathroom house may be located on General Street, but its myriad of bells and whistles means it’s anything but.

With a plethora of top-line features, including travertine tiles, state-of-the-art fixtures and a mosaic-tiled swimming pool, it includes a climate-controlled wine cellar as well as bespoke cabinetry throughout.

Why not Hendra The luxury house that is poised to set a new benchmark for this Brisbane suburb 1

Marketing agent Patrick McKinnon of Place Ascot said the house was part of an emerging trend in the suburb towards luxury new builds. The developers behind the home, Innovare Builders, were quickly transforming the standard of Hendra homes project by project, he said.

“They’ve really lifted the benchmark for what’s expected in Hendra and set the tone for the quality that people look for here,” he said.

“This house should a set a record for the area for 405-square-metre non-racecourse property. The records are around the $1 millions and I think this is better than anything else comparable on the market right now.”

While perhaps not as well-known as its prestigious neighbouring suburbs of Ascot and Hamilton, Hendra’s gentrification is well underway, partly due to the redevelopment of Eagle Farm Racecourse.

Why not Hendra The luxury house that is poised to set a new benchmark for this Brisbane suburb 2

The 379-square-metre statement home is within an easy canter of the racecourse as well as many cafe precincts.

Orazio D’Arro of Innovare Builders said Hendra’s multitude of attributes made the decision to develop there simple.

“In a nutshell, why not Hendra?” he said.

“We first chose Hendra because it is a gentrified living suburb with wide, tree-lined streets full of traditional and modern character houses and dotted by cafes, boutiques, other community businesses and gorgeous local parklands.”

Why not Hendra The luxury house that is poised to set a new benchmark for this Brisbane suburb 3

Mr D’Arro said the design inspiration was Hamptons exterior meets modern European interior.

“Modern life requires thoughtful use of space and automation as well as comfort and this was at the forefront of each and every design and inclusion decision,” he said.

Located within easy commute of the Brisbane Airport as well motorways north and south, the home can be controlled from anywhere in the world via state-of-the-art automation and electrical integration.

“Part of a busy modern family’s lifestyle demands convenience – even while travelling – and the electronic aids offered up here deliver convenience in spades,” Mr D’Arro said.

Why not Hendra The luxury house that is poised to set a new benchmark for this Brisbane suburb 4

Other features of the home include a rear patio designed for al fresco dining and summer barbecues, with a built-in, custom outdoor kitchen that features a barbecue and beverage centre.

The home also boasts an in-ground swimming pool lined with mosaic tiling and a manicured, drought-resistant lawn with landscaped gardens.

The property is located at 6 General Street, Hendra, and will go to auction on Saturday, June 22.

Why not Hendra The luxury house that is poised to set a new benchmark for this Brisbane suburb 5

 

Source: www.domain.com.au

 

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