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The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood

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The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood

Back in January 2011, I remember making a mad dash to rescue a friend who lived just up the road from Rosalie because it was about to flood.

Her property was high and dry, like so many others, but the thought of being marooned for a day or more by herself made her feel uneasy.

So, she stayed at my place for a while, and we watched non-stop media coverage as parts of the city went under.

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
The Spinks say the 2011 floods only made the Rosalie community stronger. Photo: Tammy Law

Like many low-lying parts of the city, parts of Rosalie came off second best in the floods, but this exclusive inner city precinct didn’t stay submerged for long.

In fact, the median house price in Paddington, of which Rosalie is a part, has increased more than 44 per cent in the past five years to now be $1.06 million, according to Domain Group data.

Local resident and director of Spinks & Co Residential, Rachael Spinks, said it didn’t take long for the market to bounce back.

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
Rachael Spinks and husband Martin are passionate about their suburb of Rosalie, which is undergoing a transformation. Photo: Tammy Law

“It was devastating but I think it really brought the community together. Everyone was helping out and pitching in. People were coming to help that we didn’t even know,” she said.

“A lot of the houses didn’t get flooded, so there were a lot of people who were helping. People really rallied together as a big community.”

Rosalie Village and surrounding properties on Baroona Road bore the brunt of the flood but it turned out to be kind of a blessing for Ms Spinks and her developer husband, Martin.

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
Rosalie is tipped to be the next James Street precinct as it transitions to a ‘more sophisticated retail mix’. Photo: Tammy Law

They had been about to begin redeveloping a commercial building at the entrance to the retail precinct, so the flood made them rethink the design of what would become the first of three properties they have now rejuvenated in the area.

“We saw the flood as a blessing in disguise. It turned out we retained the building and I suppose it made us wiser about how we treated downstairs. Our air conditioning and switch boards are up on the top level now,” he said.

“All of the ground floor is effectively brick and concrete, so if we get a flood again next time – (and) you do get plenty of warning – if you get everything out, it’s certainly not as bad.”

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
Rosalie resident Rebecca Kroon was in love with Rosalie from the minute she laid eyes upon it. Photo: Robe

The couple has called Rosalie home since 2004, drawn in by its community atmosphere as well local schools.

They have seen it change over the years, as more professionals and young families moved into the timber and tin homes vacated by retirees.

Not that those homes come on the market often, with supply tightly-held and unit development almost non-existent.

Plus, you probably won’t get too much change from $750,000 for an entry-level cottage that needs a heck of a lot of love.

The retail strip is undergoing change of a different kind at present with a number of for lease signs evident, but that’s not a bad thing, it seems.

In fact, Mr Spinks said as the local population changes, the time was probably ripe for a more sophisticated retail mix, too.

“I think what we’re experiencing is that Rosalie started out as a little niche food area and they all were very family-oriented, low price point, very much cafe type of places,” he said.

“We’ve noticed in other areas, there’s been a raising of the bar from where they started from as well.

“By putting in buildings that say something about themselves, we’re actually trying to encourage that next level.”

Rebecca Kroon and her husband moved to Rosalie three years ago but their journey there was almost happenchance.

Originally from New Zealand, the couple were living in Melbourne when a job offer in Brisbane saw them visit the city to have a look around.

“We flew to Brisbane to do a reconnaissance mission in 2008 and one of the places that we came across was Rosalie Village,” she said.

“We just happened upon it and I said to my husband, ‘If we were ever to live permanently in Brisbane, I want to move somewhere like this’. It had the little deli and the restaurants.”

The problem was, when they shifted to Brisbane one year later, Rebecca couldn’t remember the name of the place that had clearly stolen her heart.

So, the family settled in Newmarket, until fate was to come calling once more.

“Someone suggested we come to Rosalie Village for brunch and I was like, ‘This is the place. I can’t believe we found the place that I was looking for. This is where we are supposed to be living’,” she said.

The couple now lives within walking distance of Rosalie Village and Rainworth State School, where their two children attend, and plan to be there a very long time.

“This is our forever home. We love it so much. In fact, we’re just about to start some renovations to turn it into our final perfect home.”

Five things you didn’t know about Rosalie

  • It has been a neighbourhood of Paddington since 1975.
  • It is home to the popular Blue Room Cinebar, which has undergone a major upgrade in recent times.
  • It is only about three kilometres to the Brisbane CBD.
  • Local students attend either Milton State School or Rainworth State School.
  • It is probably named after Rosalie Plains, which was owned by pastoralist John Frederick McDougall in the 1800s – no relation to me but you never know!

Source: www.domain.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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