Connect with us

Residential

Brisbane’s cheapest suburbs to rent

Suburbs within Logan and Ipswich areas are Brisbane’s cheapest for tenants, new data shows. Tenants seeking cheap house rentals should look in Inala, Wacol and Acacia Ridge, according to Domain Group data. Brisbane’s cheapest suburb for houses is Inala, with median rent at $320. Neighbouring Wacol has a median of $345 and Acacia Ridge is also a good option, with…Read More→

Brisbane’s cheapest suburbs to rent

Suburbs within Logan and Ipswich areas are Brisbane’s cheapest for tenants, new data shows.

Tenants seeking cheap house rentals should look in Inala, Wacol and Acacia Ridge, according to Domain Group data.

Brisbane’s cheapest suburb for houses is Inala, with median rent at $320. Neighbouring Wacol has a median of $345 and Acacia Ridge is also a good option, with median house rentals of $350.

Brisbane’s cheapest suburbs to rent

 

Tenants

searching for units could find good deals in Sandgate, with medians of $245, making it the cheapest place for unit rentals in Brisbane. Tarragindi has the second lowest median, at $265. And a rental in Nathan will set tenants back $280.

Domain Group chief economist Andrew Wilson said Ipswich and Logan have continued to offer the cheapest rentals in Brisbane for tenants.

“The Ipswich rental market is reflected by the house price market as being the most affordable,” Dr Wilson said.

“Logan has a reasonably small unit market and has been very popular with investors – and I believe more investors will come into the Logan market.”

Inala Coulson real estate principal Brian MacDiarmid said tenants have clued on to the suburb’s affordability and rentals have been going fast.

“The area has changed a lot over the past five years, making it one of the most sought after areas in Brisbane,” Mr MacDiarmid said.

“We are seeing a good mixture of tenants here and it’s close to the city, motorways – and of course low rental prices.”

In the Moreton Bay area, Caboolture south offers the best bargain house rent, with a median of $300. Caboolture could also be the best place to nab a rental unit, with medians at $270.

Russell Island has the cheapest house rent in Brisbane, with a low median of $230. However, it could cost Redland tenants more than twice that on shore, with the cheapest unit median price in Thorneside priced at $375.

Woodridge, Waterford West and Eagleby offer the cheapest rents in Logan, with Woodridge nudging the lead as cheapest with a median of $305. Waterford West medians are $310 and Eagleby $320.

The Logan unit median is sitting consistently low, with Logan Central, Woodridge and Mount Warren Park all with a median of $260, making units a good choice for south Brisbane tenants.

West Ipswich house rentals were a stand-out, with medians of $260, the cheapest on shore house rent in Brisbane. Other Ipswich areas are also good options for tenants, with Leichhardt and One Mile both with a median of $270.

Units in Ipswich are cheapest in central Ipswich, North and East Ipswich, with medians of about $250, only slightly cheaper than house rentals in the area.

First National action realty Ipswich principal Garth Llewellyn said single unit dwellings are becoming most popular with tenants in Ipswich.

“Both housing and units are proving very popular with our tenants, but single units are very favourable with tenants at the moment,” he said.

“More and more people are being attracted to the low prices and progressiveness of Ipswich.”

 

Originally Published On: http://www.domain.com.au/

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market Place

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

Continue Reading

Market Place

Profit-Making Home Sales at a Decade High

Profit-Making

Tight listings, record low mortgage rates and Australia’s extraordinary growth in housing values have led to the strongest returns for vendors in more than a decade.

According to the latest Corelogic Pain and Gain report, more than 90 per cent of homes sold in the June quarter transacted at a profit—a 9 per cent increase compared to the first quarter of the year.

The rate of growth in profits mirrors a 13.5 per cent increase in housing values in the 12 months to June with the median profit being pocketed on resales for homes typically held for 8.8 years now $265,000, and median losses $43,000.

But the recent post-pandemic surge now meant that owners were reselling after only two years at a gain of $123,000.

The report, which analyses the proportion of housing resales that delivered nominal gains or losses to sellers, is based on 100,000 dwelling resales in the quarter.

The highest instances of profitability were achieved in regional and tree-change markets, a trend being fuelled by stay-at-home orders prompting buyers to search in areas where they can find more spacious family homes with backyards or easy access to the beach.

Houses, proportion of total resales at a loss/gain 

Units, proportion of total resales at a loss/gain

Corelogic head of residential research Eliza Owen said that while nationally, profit-making property sales had increased for four consecutive quarters, a number of headwinds were combining to potentially drag on, or even reverse growth in the medium term.

“While profitability is expected to trend higher across Australia in the coming quarters, it is clear that the rate of profit-making resales mirrors the trends we’re seeing in city and regional capital growth rates,” Owen said.

“As the rate of increase in values slows, as we have started to see each month since April, so too will the momentum in profitability.

“We’re closely monitoring affordability constraints, a tighter credit environment, a resurgence in listings volumes, and some economic factors including a slowdown in the resources sector.”

In Victoria, Ballarat led the way, achieving a record high rate of profitability with 99.7 per cent of resales in the quarter achieving gains.

Other top performers included the Richmond-Tweed region, where dwellings sit 29.5 per cent higher over the year; the Sunshine Coast, where values rose 27.6 per cent; and the Launceston and North-East housing market, where dwelling values are up 26.3 per cent.

Meanwhile, inner-city markets have gone into overdrive with 97.6 per cent of houses in Sydney sold at a profit—an increase of 8 per cent on the previous month to now be at the highest level of profit-making gains in almost four decades.

Average profits for sales in regions such as Ku-ring-gai, Mosman, Woollahra and the Northern Beaches are now topping $1 million.

In Melbourne, the highest profits were achieved in Bayside, Nillumbik and Boroondara while loss-making sales were affected by border closures and weak inner-city rental market.

Brisbane, where profit-making resales have been above 90 per cent mark since January 2018, experienced an 18 per cent surge across its unit market buoyed by buyers arriving from Victoria and NSW.

Apartment markets on cusp of revival

Despite the relatively rapid improvement in profitability across units, the rate of loss-making sales nationally remains around 2.7 times higher than in the house segment.

Through the quarter, there were close to 4900 loss making-unit sales, equating to 15.3 per cent of all units sold.

The result is down from 16.6 per cent in the previous quarter, and 21 per cent from the same quarter last year.

“Weaker profitability in units relative to houses comes off the back of changes to unit demand, coupled with an increase in unit supply in recent years,” Owen said.

“There are early signs that the pace of capital growth in house values is currently slowing faster than in the unit segment.

“This may be a result of rising housing affordability pressures in the detached house segment, where combined capital city house values were sitting 32.2 per cent higher than units in August.

“The increased price pressures across the house market may see more buyers pivot to the unit segment in the coming months, and lead to an increased incidence of profit-making sales across units.”

Almost a quarter of loss-making unit sales were concentrated in central Brisbane, the Gold Coast and the Melbourne CBD.

Despite inner-city regions of Melbourne and Brisbane experiencing high volumes of loss-making unit sales, the highest proportion of loss from unit resales was in Perth, particularly Cockburn, where two-thirds of units were sold at a loss.

 

Article Source: www.theurbandeveloper.com

 

Continue Reading

Gold Coast

The Gold Coast economy is set to prosper with positive property outlook

Gold Coast

Colliers International Gold Coast Snapshot has revealed the city will hit the one million population milestone within the next 30 years, underpinned by the internal migration seen throughout the pandemic and more than 50 residential projects currently in the works.

The announcement:

The Gold Coast’s strengthening economic resilience and solid growth as the preferred destination for Australia’s “internal migrants” is expected to underpin a positive long-term outlook for its property sector, according to new research.

Across the city, there are currently more than 50 residential projects with an estimated investment value of $4.8 billion under construction and with firm pipeline commitments. “Affordability, lifestyle and high-quality health and education services have consolidated the region as the preferred destination for net interstate migration across Australia over the past year,” the report states.The latest Colliers International Gold Coast Snapshot, despite the impact of the COVID-19 pandemic, the city is still on track to hit the one million population milestone within the next 30 years.

“The COVID-19 pandemic has had a negative impact on business activity, particularly for businesses operating in the sectors of tourism and international education, however other sectors have thrived including logistics and the housing market.

“Whilst the Gold Coast economy has not been immune to the current economic uncertainty, the long-term regional economic fundamentals are expected to underpin a positive long-term outlook for property investors.”

Steven King, Director in Charge at Colliers Gold Coast, says the research underpins the strength of the Gold Coast economy despite the challenges posed by Covid.

“Obviously certain sectors have struggled such as tourism but the data shows that the city is not only enduring under the weight of these challenges but forecast to perform very well when things get back to normal,” said Mr King.

“The infrastructure and development pipeline and population forecasts outlined in the data paint a very positive long term picture for the Gold Coast.”

The Snapshot indicates forecast investment in major infrastructure projects totalling $5.2 billion will significantly facilitate the recovery and growth of Australia’s sixth biggest city.

“The forecast investment in large infrastructure projects is equivalent to about 13.6 per cent of the GRP (Gross Regional Product),” it states.

Among the major projects it cites are Pacific View Estate ($3.2 billion), Coomera Connector ($1.5 billion), Light Rail Stage 3 to Burleigh Heads ($1.04 billion), M1 Pacific Motorway Upgrade Varsity Lakes to Tugun ($1.03 billion), Queen Street Village Southport ($500 million) and the Star Casino Expansion ($345 million).

According to the Snapshot, the Gold Coast’s increasing resilience is also evident in the latest employment figures, which show its employed ranks now total 371,100 persons — an historic record level in the region.

“The Gold Coast has historically been able to create job opportunities for the growing population,” it states.

“Despite the challenges imposed by the pandemic, the regional employment market has recovered quickly with the unemployment rate contracting from the peak of 8.9 per cent in July 2020 to 3.9 per cent in May 2021.”

Construction employment remains very relevant for the region and has been boosted by the HomeBuilder program implemented to support the recovery of the national economy.

Tourism, which has consistently been a major industry in the Gold Coast, has been negatively impacted by the pandemic since March 2020.

But despite the challenges, an annual economic injection from domestic tourism activity of $2.4 billion was estimated for the year-on-year to March 2021.

 

Article Source: eliteagent.com

Continue Reading

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

gold coast property management

Trending

website average bounce rate