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Apartment approvals on the rise: ABS

approvals

Dwelling approvals data released by the ABS show that approvals in the month of August grew across all of mainland Australia, except in NSW

Attached dwelling approvals – for apartments, townhouses and semi-detached homes – have jumped, according to data released by the Australian Bureau of Statistics (ABS).

Attached dwelling approvals rose 13.7% in August, sitting at 6,453.

It was the highest August figure since 2017.

Total approvals over the year to August was up 8.5 per cent at 74,000.

“The lag from approvals to work done suggests dwelling construction will remain strong this year,” Shane Oliver, the AMP Capital chief economist said.

The overall number of dwellings approved rose 6.8 per cent in August (seasonally adjusted) to 18,716 homes, ending four consecutive monthly declines.

The number of dwelling approvals rose in Western Australia (21 per cent), South Australia (11.8 per cent), Victoria (10.5 per cent) and Queensland (4 per cent).

 approvals

Falls were recorded in Tasmania (-18.9 per cent) and New South Wales (-2.3 per cent).

It represented a recovery from a 8.6 per cent dip in July. The peak month was March with 23,445 approvals.

The increase was driven by approvals for private sector dwellings other than houses, which rose 13.7 per cent, ABS construction statistics director Daniel Rossi said.

Rossi noted the result was driven by record low interest rates, boosted household savings and confidence in the housing market.

Total approvals over the year to August was 229,035, up by almost a third on their level a year earlier.

After some improvement in approvals performance in NSW in the earlier part of this year, the lockdown has seen a reversal with approvals going backwards for the 4th month in a row, Tom Forrest at the Urban Taskforce noted.

“That said, they remain well above the number of approvals recorded this time last year,” Forrest said.

 

Article Source: www.urban.com.au

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Brisbane

Brisbane apartment insights: What happened to Brisbane apartment values in September?

Brisbane apartment values

Brisbane apartment values continued to grow over September, figures from the property data firm CoreLogic found.

In their monthly index, CoreLogic found that Brisbane values rose 0.6 per cent over September, taking their te

It was a return to a normal growth pattern for Brisbane, following a 1.4 per cent growth spike over August. Prior to the spike, there were 0.8 per cent gains in July and 0.7 per cent gains in June.

The 2.8 per cent rolling quarterly gains, more than double the gains seen in Melbourne, see values 8.3 per cent higher than at the start of 2021.

Back then the median value was $390,000. Now it’s $430,000.

The price gap between houses and units in Brisbane however has widened, with Brisbane’s median house price standing at $709,000, around $280,000 higher than the median apartment price.

New listings in Brisbane are slowly on the up ahead of the traditional listing increase in spring. The same can be said for Adelaide, Perth and Hobart, however the trend remains weak in the locked-down Sydney, Melbourne and Canberra.

Queensland has benefitted from record low vacancy rates, with southern state dwellers heading north during the pandemic over 12 months ago.

The June 2021 quarter data from the Real Estate Institute of Queensland showed that nearly two thirds of local government areas in Queensland recorded their lowest or equal lowest residential vacancy rates since 2010.

Of the 35 local government areas, 20 saw their vacancy rates tighten, 10 remained static and five saw them slightly rise in the June quarter.

Brisbane’s vacancy rate dropped from 2.1 per cent to 1.7 per cent from the previous quarter. The Gold Coast’s remained static at a tight 0.6 per cent and the Sunshine Coast’s was slightly higher, from 0.5 per cent to 0.6 per cent.

Urban’s top Brisbane projects

1. Trellis, South Brisbane 

Brisbane apartment values

Trellis 20 Edmondstone Street, South Brisbane QLD 4101 

Aria Property Group are a decorated Queensland developer who have continued to improve sustainability across their South East Queensland residential apartment developments with their newest tower, Trellis.

Described as both the most sustainable and livable to date, all 110 of the two and three bedroom apartments in the 12 story building have been designed by Rothelowman.

Reminiscent of an urban retreat, Trellis reflects a new style of resort living with 1,119 sqm of recreational amenity across the Temple of Wellness on the ground floor and the Residents’ Rooftop Club on level 13.

Apartments in Trellis start from $739,000 for a two-bedroom, two-bathroom apartment. Three-bedroom apartments are priced from $1,084,000 to $1,224,000.

2. Bide, Newstead 

Brisbane apartment values

Bide 21 Longland Street, Newstead QLD 4006 

Bide is the latest Newstead residential offering by Dibcorp Properties. It has been designed in collaboration with architects from Twohill & James, Lat27 and Wiltshire Stevens Architecture.

It presents a new way of inner-city-living, with a range of special inclusions and an urban green space exclusively for residents to relax, unwind and even work from home.

Bide comprises 89 spacious one, two and three-bedroom apartments just three kilometres from the CBD.

Two-bedroom apartments start from $635,000.

3. Silk Lane, Woolloongabba 

Brisbane apartment values

Silk Lane 8-12 Trafalgar Street, Woolloongabba QLD 4102 

Silk Lane will give residents the best seats in the house when the sporting arena is back in a post-lockdown world.

The building’s architectural façade, designed by Nettleton Tribe Architects, draws inspiration from the angular shapes of metal structure incorporated in the neighbouring Brisbane cricket ground, The Gabba. The appropriately named Skystand will look over the wicket for The Ashes, and the main hub of the 2032 Brisbane Olympic track and field events.

Developed by Sarazin, Silk Lane will home 306 one, two and three-bedroom apartments.

Prices start from $449,000.

4. Rivello, Hamilton 

Brisbane apartment values

Rivello 15 Wharf Street, Hamilton QLD 4007 

here’s only a handful of apartments left at Rivello, the luxury apartment development by Brookfield Properties in Hamilton.

The 21-level building designed by Cottee Parker Architects has netted over 80 per cent of sales of the block of 150 apartments.

Brookfield Residential Properties’ Managing Director, Lee Butterworth, said buyers had responded well to Rivello.

“There is certainly significant demand for Brisbane property in the current market and buyers recognise Rivello represents a rare opportunity to purchase a new apartment in a building on the Brisbane River,” he said.

 

Article Source: www.urban.com.au

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Brisbane

Brisbane’s best property buys: Six must-see homes starting from $259,000

Brisbane’s best property buys

Despite the rising market, it is still possible to buy a property within a few kilometres of the CBD for less than $300,000.

14/75 Thorn Street, Kangaroo Point 

Brisbane’s best property buys

Demand in Brisbane’s inner circle has been hot in 2021, so buyers with small budgets are working hard to find grubstakes. Here is one, a river turn from the city. Yes, it is a small grub – only 37 square metres of floor plan – but it comes with a big location. The designer studio apartment has an L-shaped, 16-square-metre balcony, a car space, lofty level-three balcony views and access to a shared pool.

$259,000

Private sale

Ray White, Benjamin Williams 0412 067 016

4/2 Prospect Terrace, Red Hill 

Brisbane’s best property buys

Three kilometres northwest of the CBD, a one-bedroom pad has reached the market with a price tag under $300,000. One of eight in its brick block, it has an open-plan design with big windows to flood it with sunlight. It could be a base for a city professional, investor or student. It is about 500 metres from Kelvin Grove State College campus and was last sold in 2013.

$285,000-plus

Private sale

Liliana Mauri Properties, Liliana Mauri 0404 644 006

6/104 Richmond Road, Morningside 

Brisbane’s best property buys

Savvy buyers know townhouses often grant access to inner suburbs’ amenities at significantly lower buy-in prices than standalone houses. This three-bedroom, double-storey home is a fine example with its modern open plan linking dining, lounge and kitchen to a private rear courtyard. The median sale price for three-bedroom houses in Morningside this year has been $765,000 based on 100 sales. Cannon Hill State School is about 900 metres away.

$515,000-plus

Private sale

REMAX Results, Kylee Harnisch 0438 763 975

4/15 Alice Street, Kedron 

Brisbane’s best property buys

Real estate people often proclaim properties are “edgy”, but it is an apt word to describe the asymmetrical facade of this contemporary block. One of its two-bedroom, two-bathroom apartments is for sale. It has an L-shaped floor plan and unorthodox 5.07-by-2.16-metre balcony, partially inset to its open living-dining and kitchen area. It has a single car park.

$399,000-plus

Private sale

AUMR Property Group, Jay Wu 0402 686 929

11 College Way, Boondall 

Brisbane’s best property buys

This suburban area formerly known as Cabbage Tree Creek has hit its stride this century. It’s home to just under 10,000 people, of which 48 per cent are long-termers – which speaks loudly to Boondall’s easygoing, well-connected lifestyle. This four-bedroom makes a strong case, with its two bathrooms and a double garage on a flat 516-square-metre block. The kitchen has stone benches and stainless steel appliances. College Way has 147 properties and 80 per cent are owner-occupied.

$749,000-plus

Private sale

Ray White, Angela Duncan 0433 335 849

20 Saint Albans Street, Kenmore

Brisbane’s best property buys

Fans of 1960s residential housing design get an architectural showpiece at this understated three-bedroom brick house set on a manicured 549-square-metre block that was last sold in 1997. The interior is conservative and neat with the scope to swing into the 21st century with a cosmetic upgrade. All 13 properties in this settled establishment street are occupied by their owners. Kenmore South State School is about 400 metres from the driveway.

$760,000-plus

Private sale

Leighton Jones Real Estate, Leighton Jones 0468 900 200 

 

Article Source: www.domain.com.au

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Brisbane

What you can buy around regional Australia for capital city property prices

property prices

Cashing in on city property prices for a larger home in the country or on the coast has long been a key drawcard for many a sea and tree-changer.

But against a backdrop of soaring property prices in many regional areas, capital city budgets may not stretch as far as they once did in some popular coastal and country locations.

Median house prices in dozens of regional council areas are up by more than 20 per cent in a year, Domain data shows, in some instances outstripping the prices seen in their respective capital cities.

“There have been a few [city buyers] ring up thinking they can buy a property for less than half of its worth, and I say I can’t help you,” said Matt Knight – a buyer’s agent and director of Precium – of the NSW south coast market.

Thankfully, most buyers are more clued in by now on the rapid price growth seen in the regions, particularly areas that have seen an influx of demand from tree and sea-changers amid the pandemic. However, many were frustrated by the high prices and low stock levels, with some clients spending a year searching before they engaged his services, Mr Knight said.

For those city slickers considering a sea or tree change, here’s what you can expect to get for capital city prices.

Brisbane

A Brisbane buyer looking to sell up at the city’s record median house price of about $678,000 and head for the coast is likely to have to downsize if looking to the Sunshine Coast or Gold Coast, where medians sit at $825,000 and $792,000. A two-bedroom Mermaid Beach unit recently sold for $670,000, as did a three-bedroom unit at Coolum Beach.

Further afield in the state’s north, a five-bedroom house with views and a pool in the Cairn’s suburbs of Mooroobool sold for $680,000, while a two-bedroom, two-bathroom townhouse on a 132-square-metre block in  Port Douglas – where prices jumped about 29 per cent in the past year – sold for $660,000.

Property prices

Perth

House prices in Perth are now at their highest level since 2015, after lifting about 12 per cent over the year to a little less than $596,000.

Taking that budget outside the capital, a house hunter could expect to pick up something similar to a four-bedroom house in West Busselton, which recently sold for $574,000, and a four-bedroom house on a bush block in outer Bunbury that sold for $595,000.

Further afield in Moresby, north-east of Geraldton and more than a four-and-a-half-hour drive north of Perth, a four-bedroom house on more than two hectares of land with ocean views recently sold for $600,000.

Meanwhile, up in Broome, where prices jumped more than 33 per cent over the year,  a four-bedroom renovated 1960s bungalow on more than a 1200-square-metre block sold for more than $570,000.

 

Article Source: www.domain.com.au

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