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House prices bounce back stronger despite disaster

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House prices bounce back stronger despite disaster

The Brisbane 2011 floods turned waterfront properties into islands. Picture: Russell ShakespeareSource:News Limited

HOUSE price growth is so watertight in some parts of flood-affected Brisbane, it can take whatever’s thrown at it, come rain, hail or high water.

Market figures show rampaging city housing demand was the driving force behind why even disaster-hit areas that run the risk of future devastation still see house prices bounce back strongly.

Riskwise Property Research chief executive Doron Peleg, whose firm studied the property price impacts of the 2011 Brisbane floods and 2011 Cyclone Yasi along with the 2012 Gippsland Flooding and the 2009 Black Saturday Victoria Bushfires, said it was all about popularity.

“It really depends on the popularity of the areas. We found each of the natural disaster areas that were closer to the CBD delivered higher capital growth than areas that were a greater distance from the CBD. This is despite any unpredictable future impact of floods or fire.”

House prices bounce back stronger despite disaster

Brisbane has seen a surge in development since 2011, much of which has centred around the riverfront suburbs. Picture: AAP/ Ric Frearson.Source:News Corp Australia

In Brisbane, it had undertaken a study early this year that found 19 of the 20 suburbs affected by the 2011 floods outperformed the rest of the city.

Five areas did so well they punched way above the city’s five-year growth rates of 26.7 per cent to deliver upwards of a 40 per cent rise in prices.

“This is because these high-flood areas are well located on the river which is in high demand. Also, statistically floods like those in 2011 are a once-in-a-50-year event and that makes these homes a risk people are willing to accept.”

He compared that to the two most impacted areas of Cyclone Yasi — Cassowary Coast and Hinchbrook located about 1225km from the Brisbane CBD — which saw 7.4 per cent and -1.9 per cent respectively, lower than capital growth in the rest of Queensland of 7.5 per cent in the five-year period.

House prices bounce back stronger despite disaster

There was a huge emotional toll on homeowners during the Brisbane 2011 floods, but the market recovered for those able to hold on. Picture: Russell ShakespeareSource:News Limited

He said some of that impact was also off weakness in the closest major city, Townsville, which had -5.7 per cent capital growth in the period.

The study had found similar popularity-based results out of flood-affected Gippsland, Bass Coast, Baw Baw and Cardinia — located on average 78km from the Melbourne CBD — where the average capital growth in the past five years was 44.6 per cent, beating the rest of Victoria’s benchmark of 31.3 per cent.

In comparison, around 126km from the CBD, houses in Latrobe and South Gippsland — which were also impacted by floodwaters — averaged a relatively low capital growth rate of 19 per cent in the same period.

So too the Victorian Black Saturday bushfires where suburbs that were closer to the Melbourne CBD like Murrindindi and Nillumbik (around 50km away) saw an average 55.6 per cent growth — a much stronger performance than Indigo and Wellington (around 210km from the CBD) which saw 29.3 per cent.

Source: www.news.com.au

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Market Place

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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