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Prices in Redcliffe are tipped to take off on the back of major infrastructure spending

PROPERTY prices are tipped to take off in Redcliffe on the back of major infrastructure spending.

Property analyst Terry Ryder has named the area in his top five list of areas where property values will benefit from spending on major infrastructure projects.

“Infrastructure development is the most powerful creator of capital growth in real estate,’’ he said.

“Arguably the most powerful is transport infrastructure. The three Rs of real estate — road, rail links and river crossings — can transform the appeal of a location by improving accessibility.

The Redcliffe Peninsula north of Brisbane is third on his list.

Mr Ryder said while it may be geographically close to Brisbane it had suffered for years from transport links that did not keep pace with demand.

“A long promised electric rail connection from Petrie to Kippa-Ring is now under construction and on schedule for completion in 2016,’’ he said.

He said many suburbs in Redcliffe already had good rental yields because of low vacancies — about 4.5 per cent to 5.5 per cent for houses and 4.8 per cent to 5.4 per cent of units.

“After 40 or 50 years of speculation and on again off again projects — every election campaign it was dredged up — but now (the rail link) is actually physically under construction, people can buy in the affected areas with confidence,’’ he said.

Mr Ryder said a many buyers didn’t show any foresight when it cames to buying or investing in real estate.

“The smartest time to buy in relation to big infrastructure is when they actually hit the go button, then you can be certain,’’ he said.

“It is risky to buy on the announcement because a lot of political announcements don’t come to fruition.

“The smart time to be is when you can actually see the sod turning and get ahead of the pack that tends to wait until it is finished.’’

Other areas in his top five are Liverpool and Camden in New South Wales, Sunshine Precinct and Bendigo in Victoria.


Source: Courier Mail

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New Home Builds to Remain High Until 2022

New Home Builds

Construction of new homes will be strong well into next year as new home sales increased 5.8 per cent in August.

However, meeting this demand will continue to challenge the construction sector as it deals with lengthy material delays and cost hikes.

This was likely to extend until 2022 as developers rush to meet demand for new homes.

For August, sales in Queensland increased 44.3 per cent, NSW 17.9 per cent and South Australia was up 64.3 per cent, according to HIA new home sales data.

The results were worse for Victoria, down 10.8 per cent, and in Western Australian where activity also dropped, by 11.8 per cent.

The report showed that while buyer activity was rising, it was 15.5 per cent lower than in the three months to August last year during HomeBuilder, but well above 2019 levels.

Private new house sales in Australia 

New Home Builds

HIA economist Tom Devitt said new home sales remained strong in August, albeit not at the record levels prior to the end of HomeBuilder in March 2021.

“The strength in new home sales in recent months indicates that the boom in detached home building will continue to create strong employment opportunities into the second half of 2022,” Devitt said.

“A more reasonable timeframe for comparison is the same period in 2018 and 2019, before the adverse impact of Covid-19 and the stimulus from HomeBuilder.

“In the past three months sales were 15.4 per cent higher than at the same time in 2019 and 4.5 per cent higher than the same time in 2018.”

Comparing the results to before the pandemic, in the three months to August, Western Australia was up 60.0 per cent, followed by NSW up 28.1 per cent and Victoria 6.7 per cent compared to 2019.

Queensland was down 1.5 per cent for the same period and South Australia was 15.2 per cent down.


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Brookfield brings forward Rivello, Hamilton construction start after quick 80% apartment sales success


Brookfield Residential Properties’ managing director Lee Butterworth said the building program had been brought forward by six months

Construction of Brookfield Residential Properties’ Rivello apartment tower in Hamilton on the Brisbane River will start in October.

The commencement is six months earlier than scheduled after $118m in sales were secured within weeks of the development’s August launch.

More than 80 per cent of the 150 one, two and three-bedroom apartments, sub-penthouses and penthouses in Rivello have been sold off-the-plan.


Rivello 15 Wharf Street, Hamilton QLD 4007 

The sales include two penthouses at $5.5 million each at the 15 Wharf Street, Hamilton project.

Urban reported on its launch that it had been the higher end apartments in the $147 million, 21-level building designed by Cottee Parker Architects which had been among the first to sell.

Brookfield Residential Properties’ managing director Lee Butterworth told the Courier Mail it was “a significant achievement to reach this sales milestone so quickly.”

“It is a credit to the lifestyle-centred design and desirable Brisbane River position, together with the exceptional demand in the market.”

Two bedroom apartments were priced from $605,000.

Completion is now scheduled in late 2023 with Brookfield noting the availability of building supplies had been factored into the development program by the Tomkins Commercial and Industrial Builders.

Rivello is the ninth building to be developed at Portside by Brookfield.

The new building will be developed on a 2,829 sqm site, neighbouring Brookfield Residential Properties’ most recent residential projects – Gallery House One and Two.


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Gold Coast

Construction begins at The Monaco, Main Beach apartment tower, as penthouse sells for $9.5 million


Andrew Erwin, of NPA Projects, who is marketing The Monaco, said buyers are responding to the enhanced level of amenity on offer.

A locked-down Sydney buyer has snapped up the penthouse in the Gold Coast’s own apartment principality – The Monaco – for $9.5 million, as developer Ignite Projects pushes forward with construction next week ahead of an imminent sell out.

The Monaco, which has been two years in the making, is being developed by Ignite Projects and built by McNab Builders, opposite the Southport Yacht Club at the doorway to the much-loved Spit.

The Sydney-based buyer of the expansive two-level 630 sqm penthouse was impressed by the design and unrivalled location, and plans to use it for his ‘forever home’.

The penthouse sale caps off a buying rush with all but one of the 24 residences in the $110 million building sold with an average sale price of $4.6 million.


The Monaco Main Beach 2-4 MacArthur Parade, Main Beach QLD 4217 

Ignite Projects managing director Josh Foote said buyers in the opulent development will have the veritable keys to the kingdom when construction is completed in 2023.

“The Monaco in many ways represents the renaissance of Main Beach, with the building replacing an aging unit block and a well-known house, referred to locally as the ‘container home’,” Mr Foote said.

“The building is setting a new standard for the suburb, which is getting a well-deserved facelift thanks to the $205 million revitalisation of the Spit to turn it into the Gold Coast’s version of Hyde Park and a 300-berth marina at The Southport Yacht Club.”

Mr Foote said buyers have been attracted to the attention to detail and customisation options available in the residences.

“Buyers can customise their apartment, including their entire kitchen and have access to first-class facilities including a 24-metre heated pool alongside a private dining area and virtual golf simulator,” he said.

“I liken each apartment to an art gallery because of the thought that has gone into every aspect from the Greek marble and Spanish handmade wall tiles in the ensuite through to the designer cocktail bar and fluted columns throughout. It is all about luxury and refined living.”

Andrew Erwin, of NPA Projects, who is marketing The Monaco, said buyers are responding to the enhanced level of amenity on offer.

“Each apartment in The Monaco has the feel of a penthouse with unrivalled luxury,” Mr Erwin said.

“The apartments in The Monaco have sold really well and to be almost sold out before construction even starts is an amazing achievement.”

“Buyers have come from interstate and locally within Main Beach, which is the home of luxury apartment living on the Gold Coast.

“The median apartment sale price in Main Beach in May was $795,000 – more than $300,000 above the Gold Coast median of $458,000.”

The Monaco contains a collection of 25 full-floor and half-floor residences at 2-4 MacArthur Parade, Main Beach.

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