Here’s our pick of the best buys in Brisbane and some of its surrounds at the moment — and they’re all under $800,000.
34 Ivy Street, Toowong
With tongue-and-groove floorboards, a cast-iron fireplace begging for love, a sunroom, and a prime position on 405 square metres, this three-bedroom original workers’ cottage is bound to catch eyes of inner-west renovators. No price has been set yet but agent Alex Jordan says as a vacant block on land it would achieve over $600,000.
McGrath, Alex Jordan 0410 424 749
81 Payne Road, The Gap
The rear of this multi-tone brick house surprises. There’s a single-garage-cum-workshop or home office between the double carport and an elevated timber sundeck, and there’s also a pool. It is fully fenced on a 625-square-metre block, and has three bedrooms with a further small room inside that could become a fourth bedroom or study.
Harcourts, Stephen Dangerfield
48 Bringelly Street, Arana Hills
From its white picket fence to its flat sandpit-friendly backyard, the DNA of this three-bedroom, one-bathroom house is pure family. Set on a flat 607-square-metre block about 20 metres from the local bus stop, Grovely State School is 900 metres away and Arana Hills Plaza, restaurants and cafes are at the end of the street.
Coronis, Jo Dryden 07 3351 5151
19 Allamanda Crescent, Albany Creek
This substantial four-bedroom, double-storey house sits on a 1250-square-metre landscaped block. It has ample room for its pool and double garage, and there is a massive covered entertaining area and both casual and formal living and eating rooms. Two state high schools are located within 2.4 kilometres of the front door.
Style Real Estate, Claire Little 0422 755 171
40 O’Quinn Street, Nudgee Beach
This 54-year-old updated beauty on a double block opposite the beach offers three bedrooms, three bathrooms and 1000 square metres of land. Open-plan living and dining space, plenty of natural light, timber floors, and a second living area with clever built-in bench seating and storage are boons. The rear has a storage shed, two garden sheds and a single garage.
Calio & Scott Real Estate, Carl Calio 0416 145 288
6 Chase Crescent, North Lakes
Worth a look if a first-time home buyer, or investor watching budget-friendly growth areas, this super neat, modern three-bedroom, two-bathroom house also has a double garage. It is set on a low-maintenance and landscaped 486-square-metre block. It also has decent-sized, open-plan living and media rooms.
Hudson Property, Viv Robinson 0407 918 184
50 Windsor Place, Deception Bay
This two-bedroom, one-bathroom cottage on a 397-square-metre corner block has serious update or rebuild potential. Set three blocks west of Moreton Bay and one block to the suburban public primary school, it is liveable as a home or easily rentable with a modern kitchen and fenced backyard. It has a separate sunroom and a single carport.
Ray White, Lydia Robins 0438 166 763
441 Beenleigh Road, Sunnybank
This renovated, four-bedroom, one-bathroom house has parking space for two cars on a 708-square-metre block. The floor plan is open between living, dining and kitchen areas and the metro rail station is about 400 metres away. Its reserve price is unknown as required by Queensland auction laws, but it was found in a search for homes under $800,000.
Auction, June 29, 12.30pm
RE/MAX, Gary Dellios 0411 879 935
4 Parliament Street, Bethania
The federal election is done for 2019, but here is another way to get into Parliament. With three bedrooms and one bathroom, this brick-and-tile house also has a double carport and a double garage. On a flat 758-square-metre block, the back section is contained making for a fine play zone. Neutral timber-look flooring in the kitchen-meals area balances the retro swirl carpet in the living-dining.
LJ Hooker, Trina Wilson 0427 188 500
Mirvac Continues Office Push with Brisbane’s ‘Healthiest’ Tower
Listed developer Mirvac has broken ground on its $836 million 80 Ann Street Brisbane CBD tower, promoting it as Brisbane’s “healthiest” commercial building.
Mirvac’s continued push into the office sector has now made it Australia’s second-largest office manager, with $15 billion of assets under management.
Mirvac’s pipeline of commercial developments, including 477 Collins Street in Melbourne and Australian Technology Park in Sydney, has an estimated end value of more than $2 billion and is expected to add a further $90 million in recurring net operating income for the diversified developer.
The developer’s latest commercial project, spanning an entire block between Ann and Turbot Streets in Brisbane, will soon be home to financial services giant Suncorp.
At its construction commencement on Wednesday, Mirvac chief executive Susan Lloyd-Hurwitz was joined by Suncorp acting chief executive Steve Johnson and Trevor Evans MP on site to launch the project.
Mirvac’s chief executive Susan Lloyd-Hurwitz said her team had worked closely with Suncorp over a number of months, as well as the architects on the project, Woods Bagot.
“This is of course going to be leading workplace for Suncorp and highly flexible in a way that we haven’t seen before in Australia,” Lloyd-Hurwitz said.
“With a focus on incorporating biophilia throughout the design, 80 Ann Street will be surrounded by an urban garden oasis while also providing cutting-edge smart building technology, flexibility and premium amenities.”
The tower will incorporate three-storey atriums and interconnecting floors, breathing floors featuring gardens and a function facility.
Suncorp’s future Brisbane office building will also boast Brisbane CBD’s largest floor plates when completed and will feature new retail amenities on the ground floor.
“This building will be for the public not just for the customers that make their homes in this building,” Lloyd-Hurwitz said.
In a nod to the heritage of the site that once housed the Brisbane Fruit Market, a 1,098sq m retail offering on the ground floor would include a market place and market laneway.
“We’re going to revitalise the old markets on Turbot Street and create a place for the people of Brisbane to eat, connect and meet.”
Suncorp acting chief executive Steve Johnson said the move was an opportunity to consolidate Suncorp’s teams in Brisbane together into one location, creating efficiencies as it has done in Sydney, Auckland and Melbourne.
“Suncorp has been providing Queenslanders with financial services for over 100 years, and the development of our new headquarters demonstrates our ongoing commitment to Queensland.”
“This is a reflection of bringing a number of our premises together in due course into one fantastic facility in the Brisbane CBD.”
Suncorp, currently Queensland’s largest privately listed company with market capitalisation of around $18 billion, will make up about 66 per cent of the premium-grade tower’s total space of 60,000 square metres on a 12-year lease, Brisbane’s largest leasing deal in a decade.
Mirvac also recently secured the Commonwealth Bank for a new building at the Australian Technology Park in Sydney’s Redfern.
“There’s a long way to go yet and we certainly look forward to seeing the development emerge over time which will bring together three CBD operations together for us and makes our operations more efficient,” Johnson said.
The development will provide 6 Star Green Star, 5 Star NABERS Energy and Gold Shell and Core WELL ratings.
Demolition of the eight-storey Primary Industries building has now concluded and construction is now set to move ahead on the tower which is set to be delivered in the first quarter of 2022 as planned.
Land developers call bottom of property market
Land developers AV Jennings and Villa World have called the bottom of the property cycle after a year of slumping sales and consumer caution blew a hole in their profits.
AV Jennings said the current property cycle has “bottomed” and that it will deliver a stronger result next financial year, after its profits were cut in half to $16.4 million by wary homebuyers steering clear of big commitments.
“General market sentiment is clearly beginning to improve … a modest uptick in visitor numbers to sales offices and online is evident and is expected to be sustained during FY20,” AV Jennings said.
Villa World chief executive Craig Treasure said soft consumer sentiment, tight credit conditions and the uncertainty caused by the federal election had created “difficult headwinds”.
“We are seeing that sales enquiries have started to improve across Villa World’s projects, however buyers remain cautious,” he said.
Villa World’s profit after tax of $23 million was also shredded compared to the previous year when it earned $43.6 million.
“This result is consistent with commentary disclosed to the market since December 2018 and reflects the decline in the Australian residential housing market and softer consumer sentiment,” Mr Treasure said.
Villa World’s land projects are concentrated in Queensland and Victoria.
All metrics for the group suffered: earnings per share were down 48 per cent to 18.2c, total revenue fell 11 per cent to $391.6 million, and sales numbers slumped to 870, down from 1788 the previous year.
The property pain was similar at AVJennings where turnover fell 20.3 per cent to $296.5 million and profits crashed by 48 per cent.
“The lower profit reflects softer market conditions, particularly in Melbourne and Sydney,” the company said.
It paid an interim dividend of 1c on 22 March and will pay another 1.5c dividend on 20 September this year.
Villa World has agreed to a takeover by AVID Property group for $2.345 per share. It will declare a fully franked dividend of 31c, as a portion of the total takeover price if it goes ahead.
Brisbane Airport’s new runway months away from being finished
An Aussie airport is months away from adding on a new billion-dollar runway to cater for dozens more flights. And people aren’t happy about it.
Driving down the streets of Ascot in Brisbane, where tree-lined streets shade the suburb’s sprawling heritage mansions and trendy cafes buzz with young, wealthy families, there’s one thing that immediately sticks out — it’s quiet.
Ascot’s tranquillity as well as its proximity to the scenic Brisbane River, made it the most expensive place to buy a place in the Queensland capital earlier this year, with the suburb’s median house price hitting $1.6 million.
But mid-next year, tranquil Ascot, along with a handful of other exclusive and expensive suburbs will be quiet no more.
By May, construction on Brisbane Airport’s second runway is expected to be complete.
And the new runway, which has been years and billions of dollars in the making, will put some of the Queensland capital’s most expensive and exclusive suburbs directly under the flight path.
As dozens of aeroplanes from around the world get ready to grace the tarmac, residents in some of the city’s priciest suburbs could be left with a noisy headache.
But not everyone is sympathetic to the plight northside Brisbane locals are about to face, insisting they’ll “get used to it”.
Balmoral and Bulimba locals, where planes flew low before the Gateway Bridge was built, took to social media to joke about the increased flights.
“All good. The people who live in the exclusive and expensive suburbs are more likely to be frequent flyers, so it’s fair enough,” Paul Vint said.
“LOL, the poor diddums. We have low flying planes fly over each day; we got used to it,” Jean Metzenheimer added.
“Suck it up northside. Us southsiders have had it for years. Deal with it,” Marilyn Bliss said.
But despite the jokes, the transition from one runway to two — which will one day give Brisbane Airport a greater capacity than Sydney, Hong Kong and even Singapore’s Changi Airport — has the potential to be a painful one.
Over the next 30 years, Brisbane Airport will double its movements from 50 an hour to 110.
The $1.3 billion second runway is expected to shoulder much of that, creating a handful of new flight paths over Brisbane.
Flights taking off from the new runway will fly over Hamilton and Portside before passing over Bulimba and New Farm and turning back to the city to St Lucia.
The airport also recently unveiled a highly specific tool to help Brisbane residents search exactly when and how often their home will be affected.
The flight path tool also shows noise mapping, highlighting areas affected by aircraft noise of 70 decibels or more.
Using the tool, it is clear to see what suburbs are going to be worse and better off.
Once the new runway is operational, flight noise will be spread over a much wider area and a curfew from 10pm to 6am has been imposed.
Places such as Bulimba, Ascot, Hamilton, Hawthorne, New Farm and Newstead will be significantly affected having previously been immune from aircraft noise.
More than 50 flights above 70 decibels a day will be introduced to the eastern parts of Hamilton, not currently in the flight path.
Fairfield, Moorkooka, Annerley, Dutton Park, East Brisbane and Woolloongabba will also fall directly under the new flight path.
Residents in the affected suburbs are already beginning to speak up — especially on social media.
In a video showing how planes would land on Brisbane’s new runway, people sounded off in the comments.
“They missed out the bit where it comes in low over my place on the other side of the river, shaking the whole house and frightening visitors into thinking there’s an earthquake,” David Fittsell said.
“How about you employ modern techniques for noise reduction on the new runway BAC,” Mark Venz added.
The airport’s corporation (BAC) has been on the front foot for decades, setting up a consultation group for the public in the mid-2000s.
The parallel design of the runway means more flights will come and go over Moreton Bay rather than the city, and the airport also has a 6km buffer zone — the largest of any major Australian airport.
The buffer zone restricts residential development around the airport for 6km.
The BAC will also use a mobile van over the next 12 months to educate residents who are in the new flight path.
Brisbane locals seem overwhelmingly excited and welcoming of the new runway.
Considering the runway is expected to create 7800 new jobs, give the Brisbane economy an annual $5 billion boost and allow the airport to host a whopping 50 million passengers by 2040, it’s easy to see why.
Real Estate Australia chief economist Nerida Conisbee said the new runway could mean only good things for Brisbane, cementing the Queensland capital as a “global city” and creating thousands of jobs.
“Melbourne and Sydney have very high global profiles,” she said.
“Sydney, from an international perspective. Melbourne, particularly in Asia. If people can get to Brisbane much more easily than they have in the past, of course it’s going to raise its profile.”
A study completed by the Queensland University of Technology (QUT), which studied real estate data from the past 25 years across 42 suburbs, also found the new runway would have little impact.
“Housing and units in Brisbane located under designated flight paths have their value and price determined by a range of factors and these factors are not detrimentally impacted by aircraft noise,” the QUT study concluded.
“The location of a property under a flight path will have minimal if any impact on the price, saleability, investment performance and capital growth of that property.”
QUT property professor Chris Eves said the sales were the same, regardless of runways.
“It doesn’t mean that property (subject to aircraft noise) is any easier or harder to sell — sales volumes are almost exactly the same,” Prof Eves said.
“In all the studies I’ve done on aircraft noise in Melbourne, Sydney, the Gold Coast, the results have been similar.
“The capital growth of property has been more aligned with social economic status and locational factors than any perceived detrimental factors.”
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