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QLD property powers ahead as investors target the state

QLD property

Unlike some of its East Coast neighbours, Queensland has been spared much of the Delta outbreak devastation in recent months, and that’s paved the way for a strong launch into the spring selling season.

Houses in Brisbane have soared so far this year, up nearly $115,000 since the beginning of January according to CoreLogic—an increase of more than $3,300 per week over eight months—and there are few signs of slowing.

Houses in regional Queensland have also shot up +15.6 per cent in 2021, and units are following close behind at +14.6 per cent.

So what does all of this mean for what’s to come in the warmer months?

Brisbane market update

HousesUnits
$691,214
Monthly change: +2.1%
$425,777
Monthly change: +1.4%

Brisbane’s median home value jumped up an even +2.0 per cent in August to $612,377, making it one of the strongest performing capital markets.

Houses in the capital are edging towards the $700,000 median barrier, while units, which have performed more modestly so far this year, are now picking up the pace too.

According to SQM Research, new listings fell -9.5 per cent for the month, likely due to Covid-related hesitation from sellers, yet total stock on the market fell by an even larger -10.3 per cent, indicating that buyer demand is still outstripping supply.

Auction clearance rates also sat comfortably above 70 per cent throughout August, when 12 months ago they were suffering below 50 per cent, so things are looking particularly healthy in terms of sales.

Westpac’s latest Housing Pulse report points out that “the recent announcement that Brisbane will host the 2032 Olympic gains may well be creating a ‘halo effect’ for what is already a strong market.”

As long as Queensland manages to keep Covid at bay, it looks like it should be a positive spring selling season ahead.

Regional QLD market update

HousesUnits
$466,575
Monthly change: +1.4%
$445,845
Monthly change: +1.7%

August has seen another strong performance from Queensland’s regional destinations, especially the Sunshine Coast and Gold Coast, as more out of towners flock to brighter shores.

The median home value in regional Queensland jumped up another +1.5 per cent to $461,073, demonstrating a staggering +20.8 per cent gain over the past 12 months.

Units have continued to slightly outperform houses for the quarter, and the two property types are now almost neck and neck in terms of value.

According to REA Insights, new listings in the regions have seen a far less substantial drop than Brisbane of -0.5 per cent, suggesting that vendors are still looking to take advantage of the strong selling conditions while Covid disruptions are minimal.

It’s also worth noting that REA found the number of views per listing has risen significantly, up +12.9 per cent in July across the state. That’s +69.1 per cent higher than 12 months prior, so interest in Queensland property continues to gather steam.

Investor activity is surging across the state

Owner-occupiers aren’t the only ones jumping into action, and much of the country’s recent investor resurgence is being focused within the Sunshine State.

According to REA Insights, Greater Brisbane and nearby regional destinations are seeing very strong levels of interest from investors.

QLD property

Brisbane topped REA’s list for increased investor interest in Australia. Source: REA Insights 

Specifically, Logan, Moreton Bay, Ipswich and North Brisbane are the highest growth regions for investor enquiry, and it’s not just houses that are being sought after either.

While pockets of Brisbane have been stigmatised by oversupply issues in the past, units now seem to be back in favour. Enquiries on North Brisbane units are up +400 per cent year on year, with south and inner Brisbane also surging up +200 per cent.

That’s backed up by ABS data that shows new investor lending has more than doubled in the state since March 2020.

Along with interstate buyers looking to migrate north for a lifestyle improvement and Queenslanders themselves upgrading within the state, the soaring rates of investor activity indicate there’s more strong growth to come.

What’s next for the Brisbane and QLD markets?

Covid outbreaks of the past few months have brought uncertainty to Australia’s property markets, but as we enter spring CoreLogic says there’s already evidence that listing numbers are beginning to ramp up in Queensland.

The Reserve Bank of Australia confirmed for another month that interest rates won’t be moving up from their record lows any time soon, so buyers continue to operate with confidence knowing that money’s cheap.

Affordability constraints have been identified as one of the key reasons this year’s boom has eased in recent months, however, this issue is mostly affecting the Sydney, Melbourne and Canberra markets. In fact, this may be assisting the Queensland market, as those priced out of the other major cities seek more affordable options elsewhere.

Between the typical seasonal uplift, low interest rates, burgeoning investor activity and continually strong interstate interest in Queensland property, there are few signs that growth will be curbed.

It’s looking like more prosperous times are ahead for sellers in the Sunshine State.

Article Source: www.openagent.com.au

Brisbane

Chelmer: Why locals won’t leave this riverside Brisbane suburb

Chelmer riverside

It’s a telling sign when families stay put in a certain place over multiple generations, where one’s childhood is made so complete, those who grow up there yearn to pass down this same upbringing to their own family.

This is certainly the case for Chelmer, a scenic suburb encased by the Brisbane River on three sides and known for its grand, quintessential Queenslander homes and laurel tree-lined streets.

According to Alex Jordan of McGrath Paddington, many locals in the area have been living in their homes for more than 40 years.

Often these homes are bought by the younger families who grew up in the area and are drawn back by the fond memories they hold.

“It’s very much a family-focused suburb; it’s the type of place where children still ride their bikes around the neighbourhood and families go for walks to simply admire the charming streets,” says Jordan.

Chelmer riverside

Median house prices in Chelmer have increased by 47.1 per cent year-on-year. Photo: Supplied

“The natural beauty, varied demographic, and desirable lifestyle are the key factors in Chelmer’s desirability, along with the great local schools and its own train station.”

Domain’s latest House Price Report reveals Chelmer’s median house price is $1.765 million, rising 47.1 per cent year-on-year.

In Jordan’s opinion, the suburb’s wonderful sense of community and growing amenities are what keep the buyers strong and unwavering.

“There are many restaurants and cafes to enjoy – such as Botellon Tapas & Wine Bar, Boucher French Bistro, Hunter & Scout Cafe – with most businesses being owned by locals who live in the area,” Jordan explains.

“The number of nice parks, including Graceville Memorial Park and ​​Gordon Thomson Park, leads many local families to become members of a variety of sporting clubs, ranging from cricket to rugby, which of course only adds to the area’s team spirit.”

Originally from country Victoria, Andrew Thomson has lived in Chelmer virtually all of his adult life, moving to the area 20 years ago, where he would buy a house and raise his family.

Having grown deep roots in the area since, Thomson is now the president of the local Australian rules football club – the Sherwood Magpies – a great hub for kids and adults alike, regardless of whether they play football.

“Chelmer’s strong sense of community is an integral part of this area, particularly during the devastation of the 2011 floods and the recent repeat of that on a lesser scale in 2022. When the clubhouse was threatened by rising floodwater, all it took was one quick post on social media and 100 people were there within 30 minutes ready to lend a hand,” recalls Thomson.

“It was amazing, though unsurprising to see, and it goes hand in hand with living in such a connected community and being part of a sporting club that sits at its heart.”

Given Chelmer’s abundance of green space and the clear separation thanks to the winding Brisbane River, Thomson notes how the area is akin to a peaceful peninsula, seemingly a world away from the city, but in reality, just a 10-minute drive from the Brisbane CBD.

“Ideal mornings may include a bike ride on the river loop or a stroll along the riverside, followed by a coffee stop at one of the many fantastic cafes,” says Thomson.

“Spring is particularly delightful, with great weather, the excitement of footy finals, and the smell of freshly cut lawns and suburban barbecues – it doesn’t get any better.”

 

 

Article source: www.domain.com.au

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Brisbane

Developers to swoop on one of the largest sites in the Woolloongabba Olympic precinct

Developers to swoop on Woolloongabba Olympic precinct

A large development site in the heart of the Woolloongabba Olympic precinct is up for sale, with price expectations in excess of $45 million.

The 1.28-hectare rectangular shaped development site at 73 Ipswich Road in Woolloongabba is expected to attract apartment developers given its central location at the heart of the planned infrastructure in the precinct.

The site has three street frontages, to Ipswich Road and Henry Street and offers multiple development outcomes including residential, commercial, medical and hotel, subject to council approval.

Knight Frank agents Blake Goddard, Christian Sandstrom and Matt Barker in conjunction with Nathan Moore of Ray White Commercial Bayside on behalf of the vendor, a local private.

Goddard said the property was one of the largest privately owned infill sites within a two-kilometre radius of the Brisbane CBD and was expected to be hotly contested by buyers.

“We expect a wide range of developers to be interested in this site, including residential, commercial, mixed-use and build-to-rent developers, due to its flexible zoning allowances,” he said.

“It is one of the largest privately-owned properties situated in the heart of the Woolloongabba Olympic precinct, close to the Cross River Rail and the redevelopment of ‘the Gabba’ stadium, and one of the most significant development opportunities to have hit the market in the last few years.

“Quality development sites are sought after in the current market, but this site will be even more attractive to a wide range of buyers due to the rarity of size and location. The Gabba stadium and surrounding precinct is set to undergo major transformation in the coming years with over $1 billion allocated to the precinct.”

Moore said the property benefitted from its three-street frontage, easy access to major. arterial roads including Ipswich Road and the M1 Pacific Motorway, and the fact that a majority of it was undeveloped.

“The property is set to benefit from its prime location underpinned by exceptional future development opportunities in the area surrounding the 2032 Olympics,” he said.

The site is surrounded by nearby  amenity including The Gabba, the Logan Road dining precinct and the Cross River Rail station upon completion.

“The three-street frontage site enjoys a strategic location within Woolloongabba, offering unrivalled amenity along with extensive surrounding transport infrastructure and development,” he added.

 

Article source: www.urban.com.au

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Brisbane

Residential Landscaping Ideas to Increase Your Brisbane Property Value

Residential Landscaping Ideas to Increase Your Property Value

One of the top trends in home renovations this year is to improve outdoor living – transforming spaces into inviting areas to maximise outdoor living and entertainment activities.  Residential landscaping, which can boost the value of a property in Australia, is one of those important transformations.

If done right, it can even increase the value of your real estate by up to 28%. From planting grass to creating a vegetable garden, there are several landscaping ideas that could make your backyard a delightful green oasis.

Residential Landscaping -Increase Your Brisbane Property Value

Well-Maintained Turf
A well-maintained landscape offers several benefits. It improves the curb appeal of a home and is pleasing to the eye.  In addition, it immediately increases the value of a home. Landscaping involves planting and maintaining grass on your lawn.  A manicured lawn is not only a sight for sore eyes, but it also enhances the overall appearance of a property.

However, before planting anything on your property, it is vital to prepare a coherent design and plan because a landscape that is assembled in piecemeal looks cluttered and unappealing. Hence, if you can afford to hire a professional landscape designer, do so because they can come up with a master plan that will make your yard look organized and beautiful.

It is also possible to do the landscaping yourself if you’re willing to do the extra work and effort. Even with a small budget, you can present a lovely landscape that looks well put together. Once you identify where to put your grass, ensure that it remains verdant and properly maintained.

Regular mowing, watering, weeding, and fertilisation are what it takes to keep your turf lush and green. Having the right type of grass also matters. For example, Buffalo and Couch are some types of grass that grow well in Australian conditions.

Trees and Shrubs
Second to a well-manicured lawn, potential buyers will also look at the maturity of a garden. Thus, plant trees and shrubs in strategic places, but before choosing the vegetation, ensure that you know which locations are sunny and shady in the garden. You can then choose the appropriate plants for those conditions. It’s also a good idea to opt for native plants.

They are easy to grow and are suitable for the challenging Australian climate. In addition, local plants support a healthy environment because you won’t need fertilisers and pesticides to keep them healthy, not to mention preserving biodiversity through a native garden.

Trees also make your home look fabulous in addition to providing shade, offering privacy, attracting bees, and creating shelter for birds. Consider planting a crepe myrtle, a hardy tree that gives stunning summer flowers and bright autumn foliage. It can be grown in the ground or pot.

Other species that will give a gorgeous vibe to your garden include the ornamental prunus, evergreen magnolias, frangipani, and blueberry ash. Don’t forget to make flower beds which can be a mixture of annuals and perennials to make your garden pop with colour.

Landscaping your property entails a concerted approach and effort to ensure a harmonious outcome. Maintaining a verdant lawn, planting trees and shrubs, and including flower beds are some ideas to improve the look of your outdoor space.

Article source: www.yourneighbourhood.com.au

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