It’s one of the quirks of property journalism that when you discover somewhere exciting and new, well, you just have to write about it.
However, in doing so the secret is let well and truly out of the bag.
Did someone say Byron Bay?
So one can only hope that doesn’t happen in Budds Beach, which is technically part of Surfers Paradise – not that the die-hard locals want to be reminded of that.
It only has about 10 streets, stretching west from the Gold Coast Highway north of the glitter strip to the beach, which purists would say is actually part of the Nerang River … but that’s just semantics.
Height restrictions in some of its streets, unlike the soaring high-rise towers a few hundred metres down the road, mean that many residents have some sort of water view towards the precinct’s namesake of Budds Beach.
Yet, for a seemingly exclusive enclave, its property prices are surprisingly egalitarian with multimillion-dollar waterfront homes a hop, skip, and jump from older units priced from about $300,000.
“You’ve got million-dollar houses and million-dollar duplexes to high-rise apartments and walk-up apartments,” Harcourts Coast Sales Consultant Katrina Keegan said.
“There’s a lot of locals that have been there for 30-plus years and we’re getting a lot of people looking for a sea change because sometimes Surfers can be really overwhelming, just with the tourism factor of it.
“It’s perfect for any downsizer – many of those buyers are now coming to Budds Beach because they like the fact that it’s a little quieter and it is kind of Surfers Paradise’s best-kept secret.”
The precinct might be only about one kilometre long and a few hundred metres wide, but it seems to have an embarrassment of options for those lucky enough to stake a claim as an owner or a tenant.
There remains a smattering of holiday houses, often old Gold Coast beach shacks, however owner-occupiers are by far in the majority.
And what a lucky bunch they are, given they can stroll to a protected beach in mere minutes, perhaps stopping at the community’s social hub, Bumbles Cafe, along the way.
Lambert Wilcox Estate Agents director Mitchell Lambert has been frequenting Budds Beach since he was a boy and these days has been known to slowly pull up on a jet-ski, given the six-knot speed limit, to partake in its myriad amenities.
He said listings never last long – multiple offers are the rule rather than exception – with would-be buyers often living down the street because they never intend to leave Budds Beach.
“Most people who move into Budds Beach move out of Budds Beach in a box,” Mr Wilcox said.
“If you live in Budds this what you’re doing: you’re walking down to Bumbles for a coffee, you’re walking your dog, you’re going to the park, you’re going to have a swim in a really nice section of the river with nice sand, and then you’re going to watch the sunset.”
Oh dear. I fear Surfer’s Paradise’s best-kept secret is no longer.
Brisbane auction record smashed with $8.4 million Bulimba sale
Brisbane’s auction record has been smashed with the $8.4 million sale of a riverfront home at Bulimba, making it the city’s most expensive property ever sold under the hammer.
The five-bedroom European-style mansion at 95-99 McConnell Street had attracted potential buyers from across the globe due to its prized north-facing riverfront position sprawled over 1473 square metres of land with 32 metres of river frontage.
But it was two local Brisbane families, both intent on buying the property to live in with their young children, who battled it out on Wednesday night in one of the most furiously fast-paced auctions marketing agent Sarah Hackett of Place Estate Agents Bulimba had ever seen.
“It was very high intensity, it was absolutely unbelievable to watch,” Ms Hackett said. “Both families were very emotionally connected to the property and wanted it badly.
Brisbane’s most expensive auction sales
|95-99 McConnell Street||Bulimba||2019||$8.4 million|
|39 Griffith Street||New Farm||2019||$7.75 million|
|22 Sandford Street||St Lucia||2009||$7.75 million|
|29 Laurence Street||St Lucia||2010||$7 million|
|78 Jilba Street||Indooroopilly||2007||$6.1 million|
|20 Scott Street||Hawthorne||2017||$5.6 million|
|22 Langside Road||Hamilton||2016||$5,385,000|
|34 Quay Street||Bulimba||2016||$5.33 million|
|14 Otway Street||Holland Park||2016||$5,225,000|
|9 Griffith Street||New Farm||2013||$5.2 million|
“Bidding started at $5.5 million, went straight up to $6 million, then it was pretty much $100,000 bids at a time from there. It was back and forth, back and forth – the time between bids was literally seconds. It was amazing to watch.”
The previous record for a property sold at auction in Brisbane was $7.75 million, which was first set in 2009 with the sale of a grand riverfront estate at Sandford Street, St Lucia, then equalled in March this year when 39 Griffith Street, New Farm sold under the hammer. It was purchased by Ben Seymour, the grandson of Queensland rich-lister and developer Kevin Seymour.
Ms Hackett said it was an emotionally charged auction because properties of this calibre in Brisbane were rare.
“I’ve got one buyer absolutely elated and over the moon and one buyer absolutely heart broken,” she said.
“We’re currently at an all-time record low for riverfront stock in Brisbane at the moment, so sadly I don’t have anything else comparable to offer them at the moment.”
The winning bidders, a young family with two boys, were keen fishermen looking forward to enjoying the riverfront lifestyle, Ms Hackett said.
“This is a purchase made for the whole family. They want their kids to have that riverfront lifestyle, they’ve already got a tinny and the kids are super excited,” she said.
The kids won’t even have to share – the property has not one, but two private deep water mooring pontoons, as well as a pool, flat landscaped backyard and multiple living areas inside, all with spectacular water views that stretch across the river to Hamilton Hill.
Revealed: The Brisbane suburbs that defied the housing downturn
BRISBANE has emerged the capital city least affected by the housing downturn, according to new evidence revealing the suburbs that recorded double-digit growth over the past year.
It has been a tough year for the nation’s residential property market, but new research from realestate.com.au shows the Queensland capital weathered the storm better than most capital cities.
Brisbane took out three of the top 10 national spots for suburbs that defied the downturn and recorded double-digit growth in the 12 months to September — the only city to do so apart from Adelaide, which also had three suburbs in the top 10.
House prices in Chelmer, Northgate and Ipswich jumped at a time when most suburbs around the nation were going backwards.
Chelmer and Northgate even beat the affluent suburb of Vaucluse in Sydney.
From waterfront enclaves to first homebuyer hot spots, Greater Brisbane’s lifestyle, affordability, amentiy and access to jobs proved just how resilient the city’s housing market is.
The leafy riverside suburb of Chelmer, in Brisbane’s west, recorded the strongest house price growth of 31 per cent year-on-year in the 12 months to the end of August, according to realestate.com.au.
The phenomenal growth saw Chelmer’s median house price increase to $1.29 million.
Chelmer residents David and Yvonne Todd are selling their stunning, five-bedroom Georgian-style house at 17 Lama Street after living there for 11 years.
Mr Todd said he was not surprised by the growth in the suburb because it had so much to offer.
“There’s certainly been a lot of investment in the area from people improving their properties, so we’re certainly very cognicant of the suburb’s performance,” Mr Todd said.
The couple was initially attracted to Chelmer because of its proximity to good schools, the fact it was on the train line and the community feel of the suburb.
“What is interesting in the area is there seems to be a huge amount of people who live all their lives here, but might move within the area,” Mr Todd said.
Now that their three children have grown up and left home, the Todds are looking to downsize and plan to spend more time in Europe.
“My wife is a photographer and our youngest son is in Europe … so what we need is more of a lock up and go, rather than a family home,” Mr Todd said.
Ann-Karyn Fraser of Place Estate Agents, who is marketing the home, said she had noticed the increase in house prices in Chelmer and the continued strong interest in the suburb and the surrounding suburbs of Graceville and Sherwood.
“I put it down to the liveability of the suburb,” Ms Fraser said.
“The community Chelmer embraces is so rare and that’s why so many people flock there — the beautiful homes, the infrastructure we have, the schooling, the railway line, and the easy access to the CBD.”
Northgate experienced house price growth of 25 per cent in the year to September, despite general weakness in the overall housing market.
Unlike Chelmer, it has a more affordable median house price of $733,500, but bargains are becoming harder to find.
Rebecca and Marko Vuksanovic have just sold their house at 51 Junior Terrace in Northgate for $1.05 million, making a healthy profit on what they bought it for six years ago.
“We were quite pleasantly surprised,” Mrs Vuksanovic said.
“It was a bit of a record for this little pocket and sold after the first open home.”
The couple are relocating overseas, but could not be happier to have invested in the suburb.
“It was perfect for us,” Mrs Vuksanovic said.
“My husband and I both work locally, it’s got awesome proximity to the city, the airport and freeways north and south.
“We just think it’s the perfect suburb.”
Selling agent Dwight Colbert of Ray White – Aspley Group said he had noticed “continuously strong” growth in Northgate in the six years he had been selling homes there.
Mr Colbert said he had sold more than 20 homes in the suburb in the past 12 months and part of its appeal to buyers was its proximity to the airport, Northgate train station and the CBD.
“I think everyone thinks Northgate is the older suburb, with older homes, but … people udnerestimate the value of the homes in Northgate,” Mr Colbert said.
“It is now becoming one of those attraction locations people want to be in.”
The Ipswich region also featured prominently on the list of suburbs to record double digit house price growth in the year to September.
The median house price in Ipswich rose 20 per cent to hit $385,000, while North Ipswich experienced 12 per cent growth and Ripley recorded an 11 per cent increase in its median house price to $415,000.
On the Gold Coast, premium suburbs with homes with $1 million-plus price tags recorded the highest growth.
Suburbs such as Kingscliff, Paradise Point, Clear Island Waters, and Surfers Paradise weathered the downturn — recording double digit price growth.
Now that buyers are back and auction clearance rates are improving, some experts are calling the bottom of the market.
SQM Research managing director Louis Christopher said he believed Brisbane home prices were “close to fair value” after an extended period where there was a wind-down of housing prices relative to incomes.
“The worst overvaluation recorded was early 2008 whereby the market was 45 per cent overvalued,” Mr Christopher said.
“This occurred as a result of the Brisbane housing boom of 2003 to 2008 — a period where housing prices doubled in just five years.”
Mr Christopher expects the Brisbane market to respond to recent interest rate cuts and relative loose credit for the remainder of the year.
“We are forecasting a 0.6 per cent rise in housing prices for the current September quarter and a further 1.5 per cent for the December quarter,” he said.
REVEALED: The waterfront Gold Coast suburbs where house prices are climbing
It’s been revealed the Gold Coast property market is on the rise, with fresh data showing our waterfront suburbs have recorded a generous growth in house prices.
According to realestate.com.au, a number of coast suburbs with over $1 million price tags strongly defied the recent property downturn, recording double-digit year-on-year growth.
House prices in Paradise Point, Clear Island Waters, Surfers Paradise and Jacobs Well all grew by at least ten per cent or more in the past 12 months.
But it was our neighbours over the border in Kingscliff who took out the top spot, with a massive growth of sixteen per cent.
Maudsland, Palm Beach, Tweed Heads South, Tweed Heads West and Casuarina also made the list, with growth ranging from 5% to 8%.
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