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Flood suburbs leaving rest of Brisbane in their wake now

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Flood suburbs leaving rest of Brisbane in their wake now

Houses in the suburb of Yeronga submerged by flood waters on January 13, 2011. House price growth in the area has bounced back to outperform the rest of Brisbane. Picture: Jonathan Wood/Getty Images.Source:Getty Images

BRISBANE suburbs devastated by record floods in 2011 have sprung back to beat the rest of the housing market, with one growing at double Brisbane’s five-year average.

New analysis has found that in 19 of the 20 suburbs affected by floods, house price growth was now outperforming the rest of the Brisbane market.

RiskWise Property Research found 95 per cent of the suburbs affected have gone on to deliver strong double digit capital growth over five years, with the top suburb Fig Tree Pocket notching a massive 52.7 per cent, double that of Brisbane 26.7 five-year average.

RiskWise CEO Doron Peleg said demand for properties in those suburbs far outweighed any concerns over flooding — especially given 2011 was considered “a once-in-a-50-year event”.

“That makes these homes a risk people are willing to accept.”

Flood suburbs leaving rest of Brisbane in their wake now

Friends pitching in to save a home in Bulimba after flooding on January 13, 2011. Picture: Eddie Safarik/AFP.Source:AFP

Mr Peleg said the financial risk was now considered to be lower than before the 2011 floods.

“That’s why we have insurance companies. And while they have revised their product offerings and premiums, which no doubt will be quite high, it is still possible to get insurance.”

While Fig Tree Pocket reigned supreme (52.7 per cent), price growth was solid in 18 other suburbs including Bulimba (44.7 per cent), Yeronga (42.4 per cent), New Farm (40.5 per cent), Tennyson (40 per cent), Indooroopilly (39.8 per cent) and Windsor (38.8 per cent).

Flood suburbs leaving rest of Brisbane in their wake now

Police patrolling flooded Fig Tree Pocket streets in 2011. Picture: Jono Searle.Source:News Limited

Also notching capital growth in the thirties were Hamilton (35.7 per cent), Norman Park (34.8 per cent), Corinda (34.7 per cent), Auchenflower (31.5 per cent) and Wilston (31.3 per cent).

Only one suburb of the 20 was running below Brisbane’s 26.7 per cent five-year average, with Pinkenba sitting just half that pace on 11.8 per cent.

Mr Peleg said the results defied post-2011 flood perceptions that the areas would see very poor capital growth and negative buyer reaction.

“Our research has shown the reality is completely different and the demand for them has eclipsed the negative perception. This is because these high-flood areas are truly well located on the river which is in high demand.”

He said some areas had also been rezoned which made them attractive to developers.

House Price 5-Year Growth in 2011 Flood Affected Areas:

Fig Tree Pocket (52.7 per cent)

Bulimba (44.7 per cent)

Yeronga (42.4 per cent)

New Farm (40.5 per cent)

Tennyson (40 per cent)

Indooroopilly (39.8 per cent)

Windsor (38.8 per cent)

Hamilton (35.7 per cent)

Norman Park (34.8 per cent)

Corinda (34.7 per cent)

Auchenflower (31.5 per cent)

Wilston (31.3 per cent)

Fairfield (29.8 per cent)

Kenmore (29.4 per cent)

Herston (28.8 per cent)

Albion (28.6 per cent)

Sherwood (28.4 per cent)

Milton (27.9 per cent)

East Brisbane (26.8 per cent)

Pinkenba (11.8 per cent)

Source: Riskwise Property, CoreLogic

Source: www.news.com.au

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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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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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