Brisbane
Brisbane apartment values rise 0.4 per cent in December: What you can buy for the new median

Urban has taken a look at three developments which are selling apartments around the new median apartment value.
The Brisbane apartment market ended 2020 on a high, recording a 0.4 per cent gain over December, according to data analytics firm CoreLogic.
It took the median apartment price to a 2020 high of $390,000.
Urban has taken a look at three Developments which are selling apartments around the new median apartment value.
Address: 174 Venner Road, Yeronga QLD 4104
Price: From $389,000
The Gardner Vaughan Group Yeronga project Renovaré is offering its one bedroom apartment from $389,000, or $384,000 when taking in to account the $15,000 Homebuilder’s Grant. They’ve just released their third stage, Vensuto, made up of 33 one, two, three and four bedroom apartments.
The project has achieved a five-leaf rating of sustainability from The Urban Development Institute of Australia (UDIA) which highlights the features and positive impact on the environment and community.
Address: 365 St Pauls Terrace, Fortitude Valley QLD 4006
Price: From $383,880
Vicland Property Group’s Fortitude Valley project The Coterie is offering one bedroom apartments from $383,880 just 1.5 kilometres from Brisbane’s CBD in the bustling restaurant precinct. The site’s original heritage bakery facade and feature interior elements of St Pauls have been integrated in to the development by architecture firms Rothelowman and Bruce Henderson Architects.
The two residential towers are made up of one, two and three bedroom apartments across their 27 levels.
Address: 699 Main Street Kangaroo Point, QLD 4169
Prices: From $415,000
Apartments in the boutique Kangaroo Point development M Apartments are now nearing the $390,000 Brisbane median. One beds start from $415,000, with the one bed apartments qualifying for the $15,000 HomeBuilder grant.
The apartment block has just 46 residences.
Article Source: www.urban.com.au

Brisbane
New apartment developments pop up in prime locations in Brisbane, Gold Coast, Sunshine Coast

Located in the new CBD in Maroochydore, this Sunshine Coast development will offer 146 apartments in two towers.
Buyers will have the choice of two and three-bedroom configurations, along with a limited selection of penthouses, each offering sought-after views of the coastline and picturesque hinterland.
The development also encompasses six small office terraces, as well as retail and dining.
Embedded within the brand new City Centre precinct, the project is set to enjoy all the perks and amenity of the budding development hub, affording it a 90/100 walk score.
It is situated directly opposite the new town square and a two-hectare park, part of a sizeable chunk of the CBD site earmarked for open space.
Designed with investors and developers in mind, the mixed-use precinct will feature smart technology throughout, including technology-assisted parking, real-time public transport and community updates, wifi hotspots, safety systems and electric car charging stations.
Some 40 per cent of the 53-hectare site will be kept as open space, and waterways will be integrated throughout.
Market Lane itself will offer 450 square metres of ground floor retail and dining, along with a rooftop terrace on one of the towers, replete with an entertaining area and private dining room.
Other amenities available to residents will include a 25-metre resort-style pool and barbecue leisure space in the centre of the development.
The towers will also feature secure access, lifts, an above-ground car park, CCTV, and an on-site facilities manager.
Article Source: www.domain.com.au
Brisbane
First home buyers flood back into market on low rates, rising house prices

First home buyers are flooding back into the property market lured by ultra-low interest rates and government support, with two of the nation’s biggest mortgage brokers experiencing a surge in loan applications from young buyers.
AFG, a major listed wholesale broker, reported a 30 per cent annual jump in its total home loan applications in the latest quarter, as other brokers including Mortgage Choice also said they had seen sharp growth during the summer.
But while the lending surge is underway, analysts are predicting a modest rise in foreclosures as banks stop offering automatic home loan deferrals for customers thrown into financial stress by the pandemic.
AFG chief executive David Bailey said the company’s latest figures showed 22 per cent of loan applications lodged by its brokers in the latest quarter were for first home buyers, compared with the historical average of about 12 to 13 per cent of loans going to first time buyers. Mr Bailey said government incentives for first home buyers and rising prices were helping to fuel the strong demand.
“As we are starting to see clearance rates improve and prices rise across the country, people are starting to worry that they might miss out. They are probably bringing their decisions forward … to take advantage of the incentives,” Mr Bailey said in an interview on Wednesday.
Investors made up only 21 per cent of AFG’s loan applications, the lowest percentage on records going back to 2013.
Australia’s property market proved to be surprisingly resilient to shock from the pandemic, with prices rising in late 2020 after official interest rates were slashed to just 0.25 per cent and banks allowed struggling property owners to put their repayments on pause.
Mortgage Choice chief executive Susan Mitchell said over the past two months the market had been “very buoyant,” with loan applications up by 25 to 30 per cent compared with a year earlier. Ms Mitchell also noted the surge in first home buyer activity, saying these buyers accounted for almost 25 per cent of applications, up from 13 to 15 per cent normally.
“We are seeing the first home buyers back at the same level that we saw back in 2009,” she said.
Mortgage broker Homeloanexperts.com.au said inquiries since December were more than 60 per cent higher than the same period last year, also citing strong interest from first home buyers and expats returning to Australia.
Alongside government support for first home buyers, banks have also cushioned the housing market by allowing customers to pause repayments temporarily, but most borrowers will have to make their usual payments from March, when several government stimulus programs also end.
The end of all these stimulus measures and supports simultaneously could result in a small lift in foreclosures, property data analysts SQM Research managing director Louis Christopher said, but he was not concerned about a “mass forced sale event”.
“The banks have done well in managing the loan deferrals. They have shrunk from their peaks at the beginning of the pandemic,” Mr Christopher said.
“The leniency and the patience of the banks is stopping there from being any tsunami of forced sales. There will naturally be a slight increase in foreclosures [at the end of the repayment holidays] but not a severe spike,” Mr Driscoll said. “Everything last year was pointing to foreclosures and price falls but it’s just business as usual.”
Article Source: www.brisbanetimes.com.au
Brisbane
Tight rental market forces tenants to find their edge or risk losing out to competition

With vacancies rates dipping below 1% in parts of the region and a surge in demand, competition for rental properties is fierce in South East Queensland. Renters currently applying for properties are being forced to put their best foot forward to put them ahead in the eyes of landlords.
Managing Director of Solutions Property Management Laura Valenti said there had been a staggering increase in property demand over the past few months: “Demand is extremely high. In fact, I have never seen such high demand and low supply,” she said.
“We manage over 1000 properties in the greater Brisbane area and since the beginning of November 2020 our vacancy rate has been zero.”
With so few available rental properties, having an edge over other applicants is vital. While some people are offering more rent than advertised, some tenants are seeing better outcomes after completing a free, online tenancy skills course developed by the Tenancy Skills Institute.
The course was developed after extensive consultation with property managers, and covers the top four skill sets identified as crucial to a positive tenancy; communication, rights and responsibilities, maintaining a rental property and budgeting. Once complete, graduates are awarded a certificate to support future rental applications.
Tenancy Skills Institute State Manager, Mark Davidson explained tenants who complete the course will stand out from the crowd.
“Tenants who demonstrate an understanding of their rights and responsibilities, are effective communicators, budget well to pay the rent on time and maintain the property are at an advantage.
“The certificate might just make the difference on a rental application for some property managers.” said Mark.
Laura Valenti’s agency Solutions Property Management is just one of a growing number of industry supporters who agrees the course is of high value for tenants.
“It [the course certificate] would definitely put them above others who have a similar application,” said Laura.
Wendy said: “The course did me great, I found it interesting, helpful and enjoyable.
“I was finally approved for a property after completing it and moved in at the start of January.”
Article Source: www.miragenews.com
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