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The fastest growing suburbs on the Gold Coast aren’t what you’d expect

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If you bought in central Gold Coast just five years ago, right now you’d be cheering. In that time, prices for houses have risen a staggering 48 per cent.

That’s the highest increase for properties across the entire Gold Coast but it doesn’t mean other areas are suffering. House prices in all areas have risen more than 25 per cent.

Gold Coast’s south is another star performer, growing by 35 per cent growth over the past five years.\

And the suburbs where most buyers want to be? Overwhelmingly it’s the “Waters” suburbs, such as Broadbeach Waters and Burleigh Waters. Over five years, Broadbeach Waters grew 49 per cent to a $1.09m median and of the highest selling suburbs on the Gold Coast it had the highest median sale price.

‘Waters’ suburbs are characterised by being set back from the beach and often feature canals, which can serve as a budget waterfront property.

Rhonda Mulholland of Harcourts Coastal says demand in the “waters” suburbs was being driven by families wanting homes on larger blocks within a reasonable distance of the beach.

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“They want to be able to ride their pushie to the beach and it’s more affordable than Mermaid Waters,” she said.

“For those who can’t afford Burleigh Heads, Burleigh Waters is the next best thing because you can be as close as 700 metres from the beach.”

The majority of the housing that makes up Burleigh Waters is 80s brick homes that are now being renovated by clever vendors, Ms Mulholland said.

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“There’s a lot of money being poured into the area — people are renovating these old homes and they’re the ones that the buyers love most.”

Ms Mulholland cited the recent sale of a Burleigh Waters house that nearly doubled in only two years.

“I sold it to them for $425,000 two years ago and since then they’ve renovated and now sold it again for $835,000,” she said.

But that growth is still pricing buyers with lower buying power out of the market, moving more activity further inland, Remax Regency agent Daryn Trowbridge said.

“Burleigh Waters has gone ballistic recently. I’m telling buyers how much they’ll save by being that extra five minutes away and they’re seeing the services that Varsity Lakes has here and seeing the value,” he said.

Varsity Lakes saw a whopping 11 per cent increase in the median price over the past 12 months.

The extra five minute drive was well worth it for the $200,000 saving on house prices, Mr Trowbridge said.

Lacey West agent Bobbie Higgins said Palm Beach was gaining popularity as tightly-held Burleigh Heads and Waters became too busy for those who liked it for its “village feel”.

“Burleigh’s got so busy,” Ms Higgins said. “It’s hard on the weekend to get parks.”

Ray White Mermaid Beach‘s Scott Wagner described how Burleigh Heads had a constant cloud of buyers hovering. He has already sold out new apartment development One Burleigh Heads, showcasing the intensity of the demand in the area.

“We’re not looking for 100 sales, we’re looking for eight or nine sales and when you get one person buy, there will be some kind of competition in the following days,” he said. “They seem to school like fish.”

People bought into the central and south areas of the Gold Coast with the expectation of holding property for a long time, Mr Wagner said.

“It’s such a rare area, people are buying into the area thinking their grandchildren will still own the homes.”

“What protects your investment is getting the best position you can.”

 

Originally Published: https://www.domain.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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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

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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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