A year ago, mining magnate Gina Rinehart’s purchase of a $14 million property in Aaron Avenue, Hawthorne, set a new record for Brisbane and for riverfront real estate. The ensuing 12 months have seen plenty of high-end properties change hands as confidence has returned to the region.
“It’s been a spectacular year for the upper end of the market,” says Jason Adcock, of Adcock Prestige.
“The dearest houses ever sold on the river have sold over the last year, which is an absolute sign that we are forging ahead.”
Prestige Property: 20 Scott Street, Hawthorne
20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.
Adcock says there has been a steady supply of riverfront listings, with up to three parties competing for each one. An emerging trend is an influx of buyers from China, whom Adcock says comprise about 30 per cent of his business.
In another sign of buoyancy at the top end, concerns over a repeat of the 2011 floods have eased on the back of the class action taken out by flood victims against the state.
The case is based on the premise that the floods were less natural disaster and more human error and would not have occurred had the Wivenhoe Dam been operated “to the standard expected of a reasonably competent dam operator”.
Dixon agent Patrick Dixon says there’s no doubt people’s memories of the floods have softened considerably, and Michael Clarke of Ray White Bulimba agrees.
“We’ve definitely seen an improvement [in the market] since the floods,” says Clarke. “The change really came in late last year; people have now forgiven the river.”
Clarke says there is enough stock on the market to meet demand, with buyers mostly local businesspeople.
According to data from Domain Group, the best riverfront suburb performers in recent years include Bulimba, with 41.9 per cent price growth in the five years to September and a median price of $1.1 million; New Farm, with price growth of 38.3 per cent over the same period and a median price of $1,092,500; and Fairfield, with price growth of 21.5 per cent and a median of $615,000.
Dixon says there is good growth still to come.
“The bottom end of the market has been very strong while the top end was plateauing, but with Sydney and Melbourne going up dramatically in the last couple of years, the perception is the market here is going to rise,” he says. “Inquiry and interest has been very good over the last couple of months.”
1 Ivy Street, Indooroopilly
Perched high above the river with an innovative serpentine floor plan, this contemporary riverfront home enjoys views stretching from the Walter Taylor Bridge to the Indooroopilly Reach of the river. A large, covered terrace overlooking the pool doubles as a viewing deck. Inside there is a selection of casual and formal living spaces, including a large lounge room with feature fireplace. The stone-topped kitchen comes with Miele appliances, while the master suite occupies its own level and has a large walk-in wardrobe, a full en suite and a balcony.
Adcock Prestige: 0418 727 788
20 Scott Street, Hawthorne
About $5.5 million
Boasting views across the river to the Brisbane city skyline, this modern home comes with a riverfront pontoon ideal for the boating enthusiast. When you’re not out on the water, you can enjoy the swimming pool with waterside bar or the soundproof home theatre with starburst ceiling.
A marble kitchen has Gaggenau and Liebherr appliances and overlooks family living and dining spaces which open onto an enclosed balcony. The four en suite bedrooms are upstairs and include a huge master suite with balcony and custom-fitted walk-in wardrobe.
Ray White Bulimba: 0419 799 697
39 Ivy Street, Indooroopilly
$4 million +
You have until November 18 to submit a tender for this striking home, designed by internationally acclaimed architects Fearon Hay.
Three years young on a 1039-square-metre riverfront holding, the five-bedroom, three-bathroom property showcases concrete walls, tallowwood cladding, folded zinc parapets and vast expanses of glass soaking up the river views.
Features include a glamorous marble kitchen and spectacular marble fireplace, a swimming pool and a jetty with pontoon.
Dixon Family Estate Agents: 0414 817 817
77 Longman Terrace, Chelmer
$3 million +
Complete with boat house and boat ramp, this gorgeous Queenslander is set within well-established gardens featuring a family-sized pool and poolside pavilion. Beautifully renovated while retaining classic features, the home has a vast lounge room with wrap-around verandah making the most of the river views. A central kitchen has wine storage and a breakfast bar and adjoins a north-facing dining zone. A media room and a study completes the lower level accommodation. Upstairs there are five bedrooms, two with balcony access and the master with an abundance of built-in storage and an en suite.
Johnston Dixon: 0414 233 575
Competition Heating Up for Rental Properties
The residential rental market just got tighter with the number of new listings reaching its lowest point since before the pandemic.
The availability of rental properties dropped -3.9 per cent in August, according to the Proptrack rental listing report from REA Group.
Rental volumes dropped the fastest in Melbourne at -16.9 per cent and Canberra at -29.9 per cent as lockdowns hampered the market.
Meanwhile in Sydney, “green shoots” were starting to appear with a 6.7 per cent increase in new rental properties as one-on-one inspections were introduced and activity picked up.
Change in rental listings
|Location||Monthly new listings||Annual Change||Total listings||Annual change|
Source: REA Group from realestate.com.au August 2021 data
REA Group director of economic research Cameron Kusher said in the report that the fall brought national rental listings to their lowest point since December 2019.
“The rental market has become even more competitive with the availability of rentals close to an all-time low,” Kusher said.
“The crunch in rental supply is being felt regionally, too. Total rental listings were at an historic low at the end of August in regional NSW, regional WA and regional Tasmania.
“Regional Victoria and regional Tasmania were the only regions in which total listings recorded a year-on-year increase.”
Nationally the vacancy rate remained at a multi-year low of 1.6 per cent in August, according to Domain.
This report showed in Brisbane, Hobart, Adelaide and Darwin landlords could use the tight levels to increase rent on new listings.
However in Melbourne, vacancy rates were continuing to rise, hitting 3.8 per cent.
Sydney remained relatively steady, with levels at 2.6 per cent since June.
While the rental market remains competitive, soaring property prices have pushed rental yields to all time lows.
Article Source: www.theurbandeveloper.com
Display Tour: Peninsula Collection by ASF Group on Hope Island, Queensland
Whether you’re a fan of golf, enjoy boating, or dream of spending weekends relaxing by a pool, then you’ll love the property we have to show you today.
PENINSULA COLLECTION AT A GLANCE
Developer: ASF Group
Address: 52 Harbourview Drive, Hope Island QLD 4212
Number of residences: 63
Peninsula Collection is the final release within the Hope Island Resort, following the sell-out-success of Peninsula Terraces.
Securing a home within this prestigious gated community isn’t an opportunity that comes around often, which is why we are excited to share this property with you.
While the display suite may be small, the resort is anything but – with 5-star amenities already built and ready for you to enjoy.
Swap your rush-hour commute to a cruise on your very own golf buggy, as you navigate from the pool to the tennis courts, or around the three championship golf courses, the island has to offer.
Another aspect we love about Peninsula Collection is the convenience of its location.
You’re just a stone’s throw to Hope Island Shopping Centre as well as the marina – which offers boaters and yachters bridge-free and open-ocean access.
Plus, you’ve also got the added comfort of an in-built security button and 24-hour medically-trained security on site.
You’d think homes like these must come at a premium; however since they are community strata-titled apartments, you get to enjoy a spacious, brand new home in a great location with world-class amenities for a fraction of the price.
Not to mention, all Peninsula Collection residences are FIRB exempt – allowing you to tap into the global market for potential capital gains.
A three-bedroom home with two bathrooms and a parking space starts at just $565,000, one of the lowest price points on the Gold Coast market.
Article Source: www.urban.com.au
Top Locations for First Home Buyers Named
First home buyers looking for a first rung on the property ladder are honing in on locations near public transport with affordability in mind.
In most parts of the country the most popular location was clear, however in NSW and Victoria buyers were scrambling to get in wherever they could, according to broker platform Hashching.
Their analysis found buyers were looking for the “sweet spot” of good commuting options to capital cities, affordable housing, and nearby recreational areas, which was reflected in the high number of transactions from independent mortgage brokers.
Top locations for first home buyers
|State||Postcode||Percentage of FHB|
|Vic||Deven Meadows, Roxburgh Park||2% each|
Hasching chief executive Arun Maharaj said that in NSW and Victoria the market had failed to create appealing centres of entry-level property, pushing the cohort to other states.
“This results in buyers choosing to save more and compete with buyers higher up the ladder rather than relocate, or to choose to purchase their first home elsewhere,” Maharaj said.
“From the data, it looks like Hobart is the prime beneficiary of this trend, which saw high first home buyer activity in centralised locations, with Adelaide’s southern postcodes also seeing significant activity, which suggests first home buyers are finding refuge there from other states.”
The Australian Bureau of Statistics shows a third of people looking at the residential property market were first home buyers.
Since the end of HomeBuilder the number of new loan commitments for this group dropped -6.8 per cent in July following a -7.8 per cent drop the previous month.
The drop in new loan commitments was felt across the broader owner-occupier market, which fell -6.1 per cent for newly erected homes and -4.7 to build new homes.
Article Source: www.theurbandeveloper.com
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