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Gold Coast property values record biggest increases in Queensland

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GOLD Coast property values are at record highs as the city’s housing market rides the wave of the 2018 Commonwealth Games.

CoreLogic’s Regional Market Update, released today, shows Gold Coast median house prices climbed 6.9 per cent to $590,934 in 2016 while units increased 5.5 per cent to $388,392.

It was up on pre-GFC highs when house prices reached $530,000 in 2007 before slumping to $485,000 in 2009 as a result of the global financial crisis. The median house price has steadily recovered since.

It’s also the best result for Queensland, with runner-up, the Sunshine Coast, only managing a 4.5 per cent house increase and 3 per cent for units.

In Brisbane, house prices increased by 4 per cent while unit prices dropped 0.2 per cent.

House and unit values across Townsville fell 3.2 per cent and 3.8 per cent respectively, while values across Cairns rose at 0.9 per cent for houses and were unchanged for units.

CoreLogic research analyst Cameron Kusher predicted Sydney and Melbourne buyers would drive more growth on the Gold Coast this year.

“They like the Gold Coast, they are cashed up and they have a lot of equity in their property so they will probably start to look for more holiday homes in the area,” he said.

“You are also seeing interstate migration into Queensland starting to pick up slowly, and that will be a further driver of the market.

“We definitely think that values will continue to rise in 2017 and obviously in the lead up to the Commonwealth Games.”

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While the number of house sales dropped 10 per cent to just over 19,000, properties sold faster — averaging 72 days in 2016, instead of 84 days the year before.

“There are less sales, but you see the values are rising,” Mr Kusher said. “That’s pretty clear that there is demand coming back into the market. When you see time-on-market falling it is also really indicative of an improving housing market.”

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While the number of house sales dropped 10 per cent to just over 19,000, properties sold faster — averaging 72 days in 2016, instead of 84 days the year before.

“There are less sales, but you see the values are rising,” Mr Kusher said. “That’s pretty clear that there is demand coming back into the market. When you see time-on-market falling it is also really indicative of an improving housing market.”

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Gold Coast homeowners Michelle and Tim Kemp, who held off selling their Tallai property a few years ago, have now decided to take advantage of buoyant market conditions.

They will auction their five-bedroom, three-bathroom home this month through Kylie Wardrop of Premier Real Estate Agents.

The 7792sq m block includes a half tennis court, resort-style pool, horse paddocks and a stable.

“We thought about putting it on the market a few years ago but an agent told us we wouldn’t make any money on it,” Ms Kemp said.

“Now, we feel the market is much stronger so we have decided it’s a good time to sell.

“There’s been a few local sales around this pocket recently as well with good results.”

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Originally Published: http://www.realestate.com.au

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Brisbane

April 2021: Four homes to secure in Queensland’s City of Logan from $230,000

The City of Logan is situated in a thriving growth corridor between Brisbane and the Gold Coast, with abundant amenities, good schools and a burgeoning health precinct

Queensland is in the midst of an exciting period of growth and Logan City is well-positioned in the centre of this change.

The City of Logan is situated in a thriving growth corridor between Brisbane and the Gold Coast, with abundant amenities, good schools and a burgeoning health precinct.

More and more home buyers are purchasing their first property in Logan thanks to its fresh and contemporary residential neighbourhoods, new estates and bushland acreage.

The adjacent Griffith University Logan campus, Queensland TAFE and the $145 million Logan Hospital expansion provides the opportunity for Meadowbrook to evolve into a major health and educational hub.

Given its central geographic location in south-east Queensland and available young workforce, Logan is ideally placed for continued growth in the region and provides great opportunity for families and investors.

Urban takes a look at four homes to secure in Logan City from just $230,000.

1. Brookhaven, Bahrs Scrub
Address: 33 Menora Road, Bahrs Scrub QLD 4207
Four-bedroom townhome from $475,000

City of Logan

Brookhaven 33 Menora Road, Bahrs Scrub QLD 4207 

Brookhaven is a new master planned community in Logan City, balancing safety, amenity and liveability amongst picturesque natural surrounds.

Situated just 4.3-kilometres from Beenleigh Town Centre, Brookhaven is connected to Brisbane and the Gold Coast.

Developed by Frasers Property Australia, the homes achieve a five-star green star communities rating and up to 5km of multi-use trails promoting walking, running and bike riding.

2. Aquila Lodge, Eagleby
Address: 10 Bishop Street, Eagleby QLD 4207
One-bedroom townhome from $230,000

City of Logan

Aquila Lodge 10 Bishop Street, Eagleby QLD 4207

Located near train stations, the Pacific Motorway and Logan Motorway, Aquila Lodge offers an 18-townhome development in the City of Logan’s Eagleby.

Each residence features one bedroom, one bathroom and a single-car lock-up garage.

The 42sqm homes include stone benchtops, stainless-steel appliances and air-conditioning to present comfortable living to its residents.

3. Clearwater Junction, Bethania
Address: Clearwater Street, Bethania QLD 4205
Three-bedroom townhomes from $335,000

City of Logan

Clearwater Junction Clearwater Street, Bethania QLD 4205 

Clearwater Junction is an established townhouse complex located in the hidden away suburb of Bethania.

Located in a cul-de-sac street, the peaceful residential development is bordered by farmland and situated within walking distance to the train station and shops.

Three and four-bedroom townhomes are available at the project, with a mixture of designs and layouts, including both single and double storeys.

Amenities include a well-appointed gym, in ground swimming pool, and picnic area.

4. Acacia Waters Estate, Eagleby
Address: Fryar Road, Eagleby QLD 4207
Two-bedroom apartments from $305,000

City of Logan

Acacia Waters Estate Fryar Road, Eagleby QLD 4207 

Surrounded by gardens, walking paths and numerous amenities, Acacia Waters Estate presents nine contemporary designed buildings in Eagleby.

Residents who secure a home in the development will benefit from 24-hour on-site management, undulating lawns and ample visitor parking.

Other amenities include a swimming pool and barbeque pergolas, as well as essential amenities in close proximity, including parks, public transport and shops.

 

Article Source: www.urban.com.au

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Gold Coast

Why this century old home ‘with a distinctive red roof’ is about to sell for $11million – and it’s not even in Sydney

century old home

A century-old home that is known for its distinctive red roof could be sold for $11million.

The house, which was built in 1922, sits on 546 square metres of land at 10 Goodwin Terrace in Burleigh Heads, on the Gold Coast.

Owners Brian and Lauren McMaster bought the three-bedroom home for $7million in 2020 and planned to build a standout family home in its place.

The location of the home, which overlooks the ocean, has drawn plenty of interest from buyers who see it as a prime opportunity for residential development.

century old home

The location of the home, which overlooks the ocean, has drawn plenty of interest from buyers who see it as a prime opportunity for residential development 

The McMasters are currently in talks with property investment company Spyre Group and have placed the home under contract for $11million, Gold Coast Bulletin reported.

Real estate Amir Prestige is overlooking the deal though has remained tight-lipped on any further details.

The $11million price tag breaks down to $20,146 a square metre for the property, smashing the residential site record that sat at $18,541.

The price of the house has grown astronomically since it was built in 1922.

The original owners sold it for just $49,000 in 1977 and changed homeowners several times, each time raising the market price.

Engineer John Howe bought the then-two bedroom home for $3.9million in 2005.

He added a third bedroom under the house before selling it for $4.75million in 2016.

Distribution service owner Jay Mcphee bought the house and resisted offers from the new home owners for three years before finally caving to pressure.

century old home

Distribution service owner Jay Mcphee bought the house and resisted offers from the new home owners for three years before finally caving to pressure 

 

Article Source: www.dailymail.co.uk

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Brisbane

Historic Brisbane bayside home back on demolition path after court ruling

A Brisbane home with bayside views and built more than 70 years ago, looks likely to disappear after a Queensland court overturned Brisbane City Council’s rejection of a demolition application.

The house at 478 Flinders Parade in Brighton, Brisbane’s northernmost suburb, has the waters of Moreton Bay just metres from its doorstep and was built pre-1947.

Property owner Aaron Hawke submitted his demolition application on May 8, 2020, but it was rejected on July 9 because it conflicted with Brisbane’s identity, according to Council.

“[The demolition application] does not maintain the traditional building character … [and] does not protect residential buildings constructed in 1946 or earlier,” Brisbane City Council wrote.

“The house has not been demonstrated to be structurally unsound.

“The existing pre-1946 dwelling house has a relationship to the precinct and continues to maintain and represent a traditional building character streetscape in building form and scale.”

Between late 2006 and early 2007 and between late 2009 and early 2010, two pre-1947 houses were demolished in the area close to the subject property.

The first at 466 Flinders Parade was knocked down because it had been substantially altered and had therefore become structurally unsound.

The second at 484 Flinders Parade disappeared because it was not considered to be a good example of traditional timber and tin design and construction.

“Since 1964, the character of this section of Flinders Parade has changed dramatically,” court documents said.

“The large vacant block on the corner of Flinders Parade and Fourteenth Avenue was subdivided and two new large modern houses were constructed thereon.

Brisbane bayside home

The proximity of the home to the waters of Moreton Bay.CREDIT: GOOGLE MAPS 

“An existing vacant parcel of land was developed with a more modern form of design and construction. Another larger lot was subdivided and developed with a large and modern house.

“The net result of all of this was that this section of Flinders Parade now comprises of 13 dwellings of which only four have been definitively identified as pre-1947 houses.”

Two Brisbane heritage architects, Malcolm Elliot and Michael Kennedy, gave evidence to Queensland’s Planning & Environment Court.

“The house is an isolated, lower quality example of pre-1947 residential construction within a section of the subject streetscape otherwise predominated by prestige bayside residences of contemporary design, materiality and detailing,” Mr Elliot testified.

“The retention of an isolated representation of traditional building character within an otherwise predominantly modern part of the streetscape is not considered to represent a concerning, meaningful or significant loss of any traditional building character.”

However, Mr Kennedy held a different view.

“[The subject house] makes an important contribution to the traditional building character in this section of Flinders Parade. It is prominent in the street and displays obvious traditional building character. It is one of four pre-1947 houses that together with a large house at 472-474 collectively impart traditional character to this section of Flinders Parade,” he said in his evidence.

However, Judge Richard Jones decided “the street no longer has a sufficient level of traditional character” and allowed Mr Hawke’s appeal against the original Brisbane City Council rejection.

 

Article Source: www.brisbanetimes.com.au

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