The Queensland properties defying price expectations
As we head towards the end of the year, the Queensland property market is showing no signs of slowing down with the latest CoreLogic index results showing that the Brisbane market is back in positive territory, up 0.5 per cent.
Agents on the ground are seeing a similar trend with many reporting a frenzy of interstate buyer interest resulting in properties selling very quickly and often above reserve.
We spoke to some agents to find how these properties achieved incredible results and their advice for those considering putting their property on the market.
Burleigh Heads property garners international interest
On the Gold Coast, the lifestyle suburb of Burleigh Heads has experienced a dramatic increase of interest from interstate buyers.
According to Mick Brace, Principal of Realty Blue Burleigh, the stalling of buyer activity earlier in the year has turned around with buyers now in full force with demand now outstripping supply.
“We’re seeing buyers that were slowing down and not looking in March/April that are looking now and so we’re seeing a doubling and tripling of buyer enquiries because of that backlog,” he said.
Mr Brace recently sold a five-bedroom architecturally-designed home at 93 Skyline Terrace for $2,250,000, some $50,000 above reserve.
The stylish property garnered both local and international interest.
Recently sold 93 Skyline Terrace is a stylish lifestyle property boasting stunning skyline and ocean views. Source: Realty Blue Burleigh Heads
“We basically were inundated with enquiries.
“There was a mixture of local, interstate and international interest. Buyers from New Zealand, Tasmania, Sydney and Melbourne,” he said.
Despite border closures restricting physical viewings of the property, Mr Brace says that the key factors in the successful sale was to establish trust and good communication with the buyers through utilising technology.
“We basically were inundated with enquiries.”
“We had a lot of run throughs – it wasn’t just one inspection but multiple through different times of the day.
“There was even videoing outside of the house, like driving into town to showcase how long it takes to get there and showing the gradient of the hills coming in and out of the property.
“It was giving the buyer a first-hand feel through the video screen,” he said.
The buyers purchased the property sight unseen from Sydney and plan to move up when borders open.
Mr Brace expects a busy few months ahead as borders reopen and interstate migration resumes.
“My prediction is that the market will be strong through to Christmas and beyond because interstate buyers are not going to be coming in their usual time which would have been in September/October.
“They’re going to come up as soon as borders open so we probably won’t see that slowdown over Christmas like we’re used to,” he said.
For those considering selling, Mr Brace says the most important thing is to talk to an agent in order to get a first-hand snapshot of what is happening in your local area.
“The best time to be selling your house is when not much else is on the market, because the supply is in your favour, and that’s we currently have now.”
“I think the way the market is at the moment, it’s important to talk to an agent and get a first hand understanding of what the market is doing.
“A lot of the information available to sellers on the internet is retrospective so it can actually be two or three months old and may not reflect what is happening in the market right now.
“Properties that were selling six months ago would be selling completely differently now,” he said.
As for when it’s a good time to sell, Mr Brace says it’s all about supply and demand.
“The best time to be selling your house is when not much else is on the market, because the supply is in your favour, and that’s we currently have now,” he said.
Ipswich property market “best I’ve ever seen”
Moving closer to Brisbane and further inland, properties in Ipswich are also receiving a high amount of interstate interest according to real estate agent Jordan Strudwick from NGU Real Estate.
“On the supply and demand side of things, at the moment, the market is super-duper hot.
“We’re getting a lot of buyers from Brisbane, Sydney and Melbourne coming up here,” he said.
Mr Strudwick says that the numbers coming through the agency are astounding.
“The numbers we’re doing at the moment are really unheard of. Last month we sold 54 homes as a business.
“Personally, I sold 14 properties and listed 21 houses, so there’s a lot of properties coming onto the market,” he said.
According to Mr Strudwick, it’s not only listings and sales that are picking up, but the number of buyers attending open homes as well.
“It just keeps getting better and better. I can say this is the best I’ve ever seen the market.”
According to Mr Strudwick, in the Ipswich area, good stock is currently attracting an average of 10-15 buyers inspecting properties during the first weekend on market.
However, with numbers trending up, he’s taken 15-20 groups through multiple open homes, with the highest garnering 25 groups.
Mr Strudwick says that the biggest change he’s seen in the current market is really strong consumer confidence and competition.
So much so that since the start of November, he is nearly selling a house everyday bar Sundays.
“It just keeps getting better and better. I can say this is the best I’ve ever seen the market,” he said.
17 Darlington Court recently sold for $590,000. Source: NGU Real Estate
Mr Strudwick recently sold a 4 bedroom house at 17 Darlington Court in the tightly held area of Flinders View for $590,000.
The owner put the property on the market prior to Covid with another agent but the sale of the property was unsuccessful when the contract fell through.
“I had missed out on the listing because we charge for marketing and have a more expensive commission compared to the agent she chose to go with.
“I took over the property, and sold it the first weekend on the market for $5,000 more than what she originally had listed it for,” he said.
Mr Strudwick says that when choosing an agent, you get what you pay for.
“The cheapest agent isn’t always the cheapest agent. The cheapest agent isn’t the one that’s going to get you the best price for the property,” he said.
Three-bedroom Bald Hills property sells within three days
Further north in Bald Hills, Sales Specialist Jack Harvey from Coronis North says that his market has been flat out since April.
“We’ve sold 42 homes since July and have an average Days On Market of 16 days.
“Average people through the homes would be around 10-12, with multiple offers 90 per cent of the time.
“I’ve been selling real estate for 6 years and I’ve never seen it like this before,” he said.
Mr Harvey says that there are a range of factors that are driving buyers into the market.
“I’ve been selling real estate for 6 years and I’ve never seen it like this before.”
“Stock levels, interest rates, incentives for homeowners are really good.
“I think I saw an interest rate that was 1.98 per cent the other day – which was ridiculous. Money is so cheap, it’s cheaper to buy than rent at the moment.
“We’ve just sold three and listed today. Any stock we’ve got is going pretty quickly,” he said.
Mr Harvey recently sold a three bedroom property at 21 Hearne Street, which sold in three days.
Recently sold property in Bald Hills settled this month for $490,500. Source: Coronis Real Estate
Having sold the property to the owner in 2017 for $409,000, Mr Harvey was looking for offers over $475,000 for the family friendly home.
Once listed, the property sold incredibly quickly and over $20,000 above reserve.
“The property settled this month for $495,500, selling within three days.
“That’s a 20 per cent increase in price in three years,” he said.
Another sold property by Mr Harvey at 85 Brighton Terrace, Brighton was on the market for $999,000 and was sold sight unseen.
“I talked to a buyer on Sunday via FaceTime and pretty much after the inspection they said that they would pay the asking price of $999,000 and bought it,” he said.
The buyers are planning to move up from Melbourne in December.
The post “The Queensland properties defying price expectations” by Emily Ng appeared first on the openagent.com.au Blog
Chelmer: Why locals won’t leave this riverside Brisbane suburb
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.
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.”
Developers to swoop on one of the largest sites in the 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.
Residential Landscaping Ideas to Increase Your Brisbane 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.
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.