CoreLogic figures reveal Moreton Bay region’s hottest real estate suburbs - Queensland Property Investor
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CoreLogic figures reveal Moreton Bay region’s hottest real estate suburbs

ELIMBAH has been the star performer in the Moreton Bay region real estate market this year.

According to the latest CoreLogic data, the median house price in Elimbah soared 14.7 per cent in the year to August to sit at $605,000.
That pipped Joyner, where the median house price increased by 14.6 per cent over the same period to sit at $596,250.
Woorim was top on Bribie Island and third in the region with the median house price rising 13.8 per cent to $515,000. Bellara was fourth 12.4 per cent to reach $362,500.
Margate was top on the Redcliffe Peninsula and fifth overall with its median house price up 12.2 per cent to $452,000.
Harcourts Noterom principal Gay Matthews pictured, said: “I’d say 2009 was a pretty sad year but each year after that the market has been getting better and better.
“We’re in a better position than a year before and last year we were in a better position than the year before that.
“We get a lot of buyers coming out from the North Lakes region looking for the bigger blocks, and we see some from the inner city too, of course,” she said.

David Deane Real Estate sales director, Mark Rumsey said he wasn’t surprised by the

figures for Pine Rivers.

“Overall the vast majority of property in the region has grown anywhere from 5-10 per cent

and sometimes in greater numbers,” he said.

“The only property category that has yet to see that growth is the villa and townhouse market,

typically.”

“It’s a case of growth from the middle ring of Brisbane filtering out,” he said. “As we evolve as a region, people see us as a pretty god overall destination.”

LJ Hooker Redcliffe principal, Danny Mailer said demand for property was high in the
Redcliffe region.
“Stock isn’t lasting long once listed and we’re pretty much clearing everything at auction or
before,” he said.
“We listed a property (on Wednesday) and within a day five people had been through it and
we had two offers.”
Mr Mailer said the seaside lifestyle had long drawn buyers to the region but high prices in
other markets were pushing even more buyers to the peninsular.
“There are a lot of investors and interstate buyers in the market at the moment,” he said.
“The Sydney market is over-inflated and buyers from there are coming (to Redcliffe) to get
value for their money.”
Originally Published: http://www.couriermail.com.au

Brisbane

The Brisbane suburbs where property values will rise

The Brisbane suburbs where property values will rise.
Red Hill is tipped to join the million-dollar house price club, as property values in Brisbane soar.
Economists have predicted a staggering 20 per cent rise in the median house price over the next three years and new analysis from the SRP Group reveals which Brisbane suburbs will be leading the way.
Red Hill, Keperra, Mount Gravatt, Arana Hills and Rochedale South top the list.
It means Brisbane, where there is already 18 suburbs with a median house price above $1 million, would continue to buck the national property downturn.
But Antonia Mercorella, from Real Estate Institute Queensland, insists the Sunshine State’s capital is still affordable.
“It’s really just a matter of doing your research and looking at what’s available,” she said.
BIS Oxford Economics analyst Angie Zigomanis said most increases won’t be noticed for another 12 months.  “We’ll really be back ended towards the last two years of that three year forecast period,” he said.
Source: www.9news.com.au
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Brisbane

The Brisbane suburbs where rent prices have increased most

The Brisbane suburbs where rent prices have increased most

Brisbane’s rent prices have remained relatively steady over the past 12 months, but that doesn’t mean there hasn’t been any big changes in rent prices across the city. So which suburbs have seen the biggest price hikes, and which have seen the biggest reductions?

When it comes to units, Bardon recorded the highest jump in rent price in the past 12 months. The north-western suburb saw an 18 per cent increase up to a median weekly rent price of $360, which is consistent with a 20 per cent increase over the past five years.

Brooke Rowley, property management business developer for Ray White Paddington, said smaller units have recently popped up in the suburb and were likely to account for the bump in price.

“We have height restrictions so we don’t have all the high-rises, but we do have a lot of smaller units and townhouses,” she said. “They’re not high rise, the top would be three levels. But nice, and fairly new.”

The Brisbane suburbs where rent prices have increased most 1

Rowley said most of the rental interest in the area came from more established renters who were interested in the location and surrounding amenities.

“Bardon is the catchment zone for two very good schools, Bardon State School and Rainworth State School. A lot of people look for the good schools, and then want to stay in that area. [We see] more professionals sharers and families because of the schools, and close proximity to the city. [There’s also] easy access to get to Mt Coot-tha and the western suburbs.”

Elsewhere, Yerongpilly in Brisbane’s south saw a strong 14.3 per cent increase in unit rent prices year-on-year, while nearby suburb Holland Park jumped a similarly strong 11.1 per cent.

Meanwhile, house rent prices increased the most in Fortitude Valley, with the central suburb posting a 16.3 per cent jump. The median weekly rent price was $500 in the area. Leasing associate Connor Hadwen, of Living Here Cush Partners, said the increase was likely due to the market catching up to the recent apartment boom.

The Brisbane suburbs where rent prices have increased most 3

“The oversupply of apartments has mostly been filled at the moment,” he said. “So compared to five years ago, the rental prices are returning to normal levels. It’s just the suburb growth matching back to normal levels.”

In fact, Domain economist Trent Wiltshire said the most notable broad trend in Brisbane’s rental market in the past 12 months was a 6.25 per cent increase in rent price for units in inner-city Brisbane suburbs like Fortitude Valley.

“That’s a surprise given what we know has been happening in the Brisbane apartment market in the inner city,” he said. “Brisbane’s gone through a huge apartment building boom over the last few years. Despite that, rents have increased over the past year by 6 per cent.

“It’s only up by 6 per cent over five years, so it has been held down over the last few years by the big building boom, but it’s just jumped in the past year. This says to me that there’s ongoing strong demand for new apartments.”

The Brisbane suburbs where rent prices have increased most 4

Mr Hadwen said he had seen strong interstate and international interest in Fortitude Valley, and its surrounding suburbs of New Farm, Teneriffe, and Newstead.

“We tend to see not huge families coming to live here, but people moving here for employment opportunities. [People] wanting to live close to the city.”

Another suburb that posted a large increase in house rent price was Fig Tree Pocket in Brisbane’s south-west. It saw a 12.5 per cent jump for a median weekly rent price of $675. Closer to the CBD, Ashgrove saw an increase of 10.6 percent making for a median weekly house rent price of $575.

On the other end of the spectrum, the apartment rental market in Rocklea in Brisbane’s south saw the biggest dip across the city, with rent dropping 8.9 per cent year on year consistent with an 8.9 per cent drop in the past five years. The current median weekly rent price for units in the area is $280.

The Brisbane suburbs where rent prices have increased most 5

When it comes to houses, the western suburb of Chelmer saw the biggest drop at 11.2 per cent. This could be an anomaly, however, given the area’s 26.2 per cent increase over the past five years. The current median weekly rent price for houses in the area is $675.

 

Source: www.domain.com.au

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Brisbane

Queensland leads the way in market recovery

Queensland leads the way in market recovery

Demand has started to increase in the property market on the back of the recent federal election results and interest rate cuts, with Brisbane and Mackay in Queensland leading the road to recovery.

REA’s Property Outlook for July has revealed the “ScoMo bounce” and two interest rate cuts were breathing new life into Australian property, with demand starting to increase and slowly flowing through to many indicators.

Search activity has seen a bump, particularly in Melbourne and Sydney’s hard hit markets, clearance rates in premium suburbs are getting back to high levels, and many mining towns are returning to growth after five years of negative conditions, according to the report.

realestate.com.au’s Chief Economist Nerida Conisbee said rental growth in these areas started some time ago, but a recovery is now following suit.

“Queensland is leading the way in the recovery,” Ms Conisbee said in the report. “Brisbane has been the first capital city off the block in terms of price growth, and Mackay is right now the top regional growth area in Australia.”

She added that jobs growth is also driving rental demand, which continues to be highest in Hobart, Gold Coast and Melbourne, and while the extreme price growth in Hobart now seems to be over, Launceston is taking over. Regional Victoria was also doing well, with many suburbs in Ballarat, Bendigo and Geelong experiencing never before seen property demand.

But according to the report, any real uplift in the number of people listing properties for sale is yet to be seen and pricing data is yet to reflect a change in conditions, and Ms Conisbee warned that while much of this sounds promising, there are some dark clouds looming on the horizon.

“Although buyers love an interest rate cut (we see an increase in search activity onrealestate.com.au almost as soon as it is announced), the Australian economy isn’t looking particularly healthy,” she said in the report.

“While many economic indicators have been poor for some time now, the bright spark has always been low unemployment. With this creeping up and the Reserve Bank pushing through two interest rate cuts very quickly, the positive effect of cheaper finance may not be enough to offset the fact that people are beginning to lose their job. Could it be that the worst for property is still be to come?”

Ms Conisbee said if the interest rate cuts were enough to stimulate the economy and property prices continued to see a rebound, we were still looking at a very different property market to what it was like during the boom, with investor lending down 45 per cent from peak and unlikely to make a full recovery any time soon.

“Buyers from Asia, a key market for new development, have dropped dramatically,” she reported. “Over the past 12 months alone, property seekers from China have dropped by over 60 per cent to the lowest level we have ever recorded, and confidence in the new apartment sector is low following some high-profile structural issues.”

 

 

Source: eliteagent.com

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