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Looking for a property to rent? Good luck finding something here

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Looking for a property to rent? Good luck finding something here

Realestate.com.au has revealed the most in-demand suburbs for rental properties. Source: ThinkStock

LOOKING for a rental property? You’ll have to move pretty quick if you want to snare one in these areas which have been identified as Queensland’s most in-demand rental suburbs.

DEMAND for rental properties in Brisbane has jumped by nearly 24 per cent in the past year, new figures from realestate.com.au reveal.

As competition for rentals heats up, the site has also identified the most sought-after suburbs to lease a property in the past six months, within 20km of the CBD.

The research shows more people want to rent a house in Brisbane’s inner north than anywhere else in the city, but the southside prevails when it comes to demand for unit rentals.

Realestate.com.au chief economist Nerida Conisbee said the site had already recorded 1.2 million searches for rentals in Brisbane in just the first two weeks of 2018.

Ms Conisbee said realestate.com.au’s rental demand index was up nearly 23.8 per cent in Brisbane compared to the same time last year.

“What that typically means is it reflects jobs growth,” she said.

“I think it’s good news for Brisbane.

“The growth in rental demand is similar to Melbourne but a lot higher than Sydney.”

Camp Hill, 6km from the CBD, tops the list for units in the city, attracting more than 820 online visits per property, followed by Holland Park.

The median weekly rent for a unit in Camp Hill is $370.

Camp Hill is the most in-demand suburb to rent units, according to realestate.com.au. Picture: Patria Jannides. Source: News Corp Australia

Camp Hill is the most in-demand suburb to rent units, according to realestate.com.au. Picture: Patria Jannides. Source: News Corp Australia

When it comes to houses, you’ll have a tough time snagging something in Fortitude Valley, with listings in the inner-city suburb receiving more than 1200 online visits in the second half of 2017.

It was followed closely by nearby Windsor, New Farm and Newmarket, which all attracted more than 1100 views per listing.

Fortitude Valley is the most in-demand suburb for houses to rent. Picture: Jono Searle. Source: News Limited

Fortitude Valley is the most in-demand suburb for houses to rent. Picture: Jono Searle. Source: News Limited

The median weekly rent for a house in Fortitude Valley is $465, but jumps to $753 in New Farm.

A quick search on realestate.com.au reveals there are not many houses for rent in Fortitude Valley, but plenty to choose from if you venture into its neighbouring suburbs.

A four-bedroom, two-bathroom cottage at 176 Arthur St, Fortitude Valley, is currently for lease for $600 a week.

In New Farm, this three-bedroom Queenslander at 585 Lower Bowen Terrace is available for $625 a week.

This house at 176 Arthur St, Fortitude Valley, is for rent. Picture: realestate.com.au. Source: Supplied

This house at 176 Arthur St, Fortitude Valley, is for rent. Picture: realestate.com.au. Source: Supplied

 

This house at 585 Lower Bowen Tce, New Farm, is available for rent. Source: Supplied

This house at 585 Lower Bowen Tce, New Farm, is available for rent. Source: Supplied

For $330 a week, you can rent a tidy, two-bedroom unit in Camp Hill, like this one at 6/25 Bundah Street.

This spacious, two-bedroom, two-bathroom unit at 827 Steele St, Holland Park, will set you back $120 more.

ISLAND GEM SELLS

Unit 6, 25 Bundah St, Camp Hill, is for rent. Picture: realestate.com.au. Source: Supplied

Unit 6, 25 Bundah St, Camp Hill, is for rent. Picture: realestate.com.au. Source: Supplied

This unit at 27 Steele St, Holland Park, is for lease. Picture: realestate.com.au. Source: Supplied

This unit at 27 Steele St, Holland Park, is for lease. Picture: realestate.com.au. Source: Supplied

Rental applications often peak in January as many renters view summer as the perfect time to find a better deal.

Ms Conisbee said most people looking to rent were often younger, which might explain the popularity of Fortitude Valley and surrounding suburbs.

“It has to do with those areas being very popular with young people,” she said.

“These areas are a lot of fun, have a good night-life, restaurants and are close to the city.”

Ms Conisbee said the high-demand areas for apartments were suburbs that did not have much apartment stock, such as Camp Hill and Holland Park.

Realestate.com.au's most in demand suburbs for renting units in Queensland. Source: The Courier-Mail

Realestate.com.au’s most in demand suburbs for renting units in Queensland. Source: The Courier-Mail

In good news for renters, vacancy rates in Brisbane rose in December from 3.4 per cent to 3.8 per cent, according to the latest figures from SQM Research.

They had tightened significantly over the past year.

But rents are also rising, with asking rents for houses up 1.1 per cent to $448 a week and units rising 0.6 per cent to $368 during the month.

SQM Research managing director Louis Christopher said it was common for vacancies to rise in December due to seasonality.

Mr Christopher said vacancy rates in all capital cities rose in December, but the rise in Sydney was larger than expected.

Realestate.com.au’s most in-demand suburbs to rent a house in Queensland. Source: The Courier-Mail

Realestate.com.au’s most in-demand suburbs to rent a house in Queensland. Source: The Courier-Mail

Originally published: news.com.au

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The most in-demand Brisbane suburbs for July 2018

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The most in-demand Brisbane suburbs for July 2018

Brisbane may not be the most popular Queensland location to invest into compared to other markets, but it is certainly seeing a rise in demand and in median price, according to new data.

Data from realestate.com.au’s Property Outlook – July 2018 report shows that demand in Brisbane is up 5.9 per cent year-on-year. Both houses and apartments are up, with rises of 6.7 per cent and 4.5 per cent respectively.

The report stated that offshore property searches are very active and is the most popular capital city for demand from this particular investor type.

The overall median price saw a rise of 1 per cent to $485,000, with the report noting that the timing in the cycle seems to be moving out of sync with Sydney and Melbourne, claiming “prices never increased to the same level and it remains far more affordable”.

Overall, metro Brisbane was fairly in demand and experienced positive price growth. The eastern region of Brisbane was the most in demand and saw the largest median price growth, with a rise in demand of 16.7 per cent and a median price rise of 5.7 per cent to $556,000. The next best region in demand was the inner city region, which saw demand rise to 13.7 per cent, but was the only region to experience a price growth decline by 3.1 per cent down to $628,000.

The most 10 popular suburbs in Brisbane, according to realestate.com.au, are:

Houses

  1. East Brisbane
  2. Indooroopilly
  3. Paddington
  4. Holland Park
  5. Wilston
  6. Chandler
  7. Windsor
  8. Coorparoo
  9. Newmarket
  10. Toowong

Apartments

  1. Graceville
  2. Mansfeld
  3. Tarragindi
  4. Camp Hill
  5. Red Hill
  6. Ashgrove
  7. Holland Park
  8. Tingalpa
  9. New Farm
  10. Paddington

Regional Queensland saw every single area rise in demand with the exception of the Gold Coast, which declined by 9.1 per cent. The strongest rise in demand was Gladstone, which was up 39.1 per cent and a median price of $230,000 and was followed by Fraser Coast, which was up 33.8 per cent and a median price of 33.8 per cent and Gympie, which was up 32.2 per cent and a median price of $295,000.

Despite the demand, price growth was fairly down, aside from four areas; the Sunshine Coast which rose 5.8 per cent to $545,000, the Gold Coast which rose 4.1 per cent, Mackay which rose 0.3 of a percentage point to $321,000 and Gympie, which held steady.

Gladstone saw the largest median price growth decline, falling 14.8 per cent, and was followed by Rockhampton, which declined 12.7 per cent to $240,000 and Bundaberg, which declined 7 per cent to a median price of $265,000.

Metro Brisbane median price and demand

RegionMedian priceMedian price year-on-year percentage changeDemand year-on-year percentage change
East$556,0005.7%16.7%
North$540,0001.9%6.0%
South$635,0001.6%-2.1%
West$633,5000.6%0.1%
Inner City$628,000-3.1%13.7%

Regional Queensland median price and demand

RegionMedian priceMedian price year-on-year percentage changeDemand year-on-year percentage change
Bundaberg$265,000-7.0%30.2%
Cairns$340,000-4.2%6.5%
Douglas$335,000-1.2%19.3%
Fraser Coast$305,000-1.6%33.8%
Gladstone$230,000-14.8%39.1%
Gold Coast$536,0004.1%-9.1%
Gympie$295,0000.0%32.2%
Mackay$321,0000.3%31.1%
Noosa$608,000-3.5%24.2%
Rockhampton$240,000-12.7%5.6%
Sunshine Coast$545,0005.8%6.5%
Toowoomba$355,000-1.0%4.8%
Townsville$310,000-1.6%10.9%

Source: www.smartpropertyinvestment.com.au

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Mega mansion sells for $11m plus

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Mega mansion sells for $11m plus

The riverfront property in Hawthorne sits on a 2137 sqm riverfront block.

ONE of Brisbane’s most enviable trophy homes has sold for more than $11 million in the city’s biggest sale of the year so far.

The mega mansion, on a sprawling 2137 sqm riverfront block in Hawthorne, has been home to energy executive Shaun Scott and his wife, Sarah, for the past eight years.

Mega mansion sells for $11m plus
The view from the property in Hawthorne.

The Scotts’ property has been snapped up by self-made millionaire Anthony Yap, who founded Good Price Pharmacy Warehouse.

Mega mansion sells for $11m plus
Good Price Pharmacy Warehouse managing director Anthony Yap. Picture: Richard Walker.

Mr Yap and his wife, Hahn Luu, happen to be selling their current, six-bedroom home in neighbouring Balmoral, which is scheduled to go to auction next month.

Ms Luu declined to comment when contacted by The Courier-Mail.

Mega mansion sells for $11m plus
This house in Balmoral is for sale.

Mr Yap also owns another ­mansion in Balmoral, but his new digs in Hawthorne really are something else.

The home has five bedrooms, six bathrooms, two swimming pools, a heated spa, a north-south facing championship-size tennis court, a boat house, putting green and private 12m jetty.

Mega mansion sells for $11m plus
Inside the Hawthorne home.

Wait, there’s more.

There’s also a wine cellar, music room, library, gym and games room with built-in bar.

Records show Mr Scott, who is the former chief executive of Arrow Energy, bought the original property for $6.85 million in 2010.

Mega mansion sells for $11m plus
Shaun Scott is a former chief executive of Arrow Energy.

They employed architect Donovan Hill to design a brand new house, which was completed in 2014.

Selling agent David Price of Ray White – East Brisbane said the property attracted interest from potential buyers in London, New York and Dubai, as well Sydney and Melbourne.

“It was a truly international campaign,” Mr Price said.

“It’s a spectacular home. The house really had the lot because of the views over New Farm Park and the city, as well as being a flat block with a tennis court.”

There’s been some big money changing hands between the movers and shakers of Brisbane’s property market in the past year, with prestige homes attracting strong demand and increasing interest from interstate buyers.

This latest sale is the biggest of 2018 in Brisbane so far, eclipsing the $11 million sale of a mansion at 27 Sutherland Ave, Ascot, in March, and the $10.138 million sale in February of the Hamilton Hill mansion built by Christopher Skase at 36 Dickson Terrace.

Mr Price also recently sold a riverfront home at 15 Laidlaw Parade, East Brisbane, for $3.45 million and has listed another executive address at 10 Aaron Ave, Hawthorne.

“The top end’s very strong,” he said.

Mega mansion sells for $11m plus
The view from the house in Balmoral.
Mega mansion sells for $11m plus
The Hawthorne home sold for the highest price in Brisbane so far this year.
Mega mansion sells for $11m plus
Inside the Hawthorne house, which has sold.

Source: www.sunshinecoastdaily.com.au

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Brisbane’s Top Performing Growth Suburbs

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Brisbane’s Top Performing Growth Suburbs

Canny property owners in Brisbane have made huge cash gains after investing in suburbs which have recorded high capital growth.

Despite reports of a stalling real estate market, Place Advisory research has identified high performing suburbs in Brisbane, Ipswich and Logan, in the six months to March 2018.

Brisbane recorded an average capital gain of 6.2 per cent, with the inner suburb of Milton landing the highest capital growth of 19.9 per cent with median house values of $892,500.

Place Advisory’s Lachlan Walker said the growth has resulted in significant yields for property owners who have sold in the current climate.

“These gains are however the result of long-term strategies, crystallising capital growth if their initial investment was made based on the underlying drivers of population growth and the delivery of planned strategic local infrastructure,” Walker said.

SuburbGrowth (%)
Milton19.9%
Ascot13.3%
Kenmore Hills11.9%
Bundamba9.7%
Jamboree Heights9.4%
Shorncliffe9.2%
Park Ridge6.9%

Ipswich has lead the market in terms of a general rise in demand and pricing.

“The Ipswich corridor has undergone significant change over the past few years,” Walker said.

“Low entry level prices have allowed for strong growth to be achieved and value to be recognised by purchasers as this area continues to develop.

“The suburb of Bundamba recorded the highest capital growth in the Ipswich area, a significant 9.7 per cent.”

The Ipswich property market has also benefited from the awarding of a $5 billion defence contract to the region, which is forecast to generate jobs and infrastructure for the next 40 years.

In Logan, the top performing suburb was Park Ridge, with 6.9 per cent capital growth.

“The wider Logan area is a long-term investment opportunity,” Walker said.

Source: theurbandeveloper.com

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