Property prices have been soaring across Australia’s coastal towns and suburbs, but there are still some pockets where prices have not raced ahead.
House prices have grown rapidly in many sea-change destinations in recent years, skyrocketing even further in some areas amid the pandemic and rise of remote working.
In Byron Bay on the NSW’s north coast, Sunshine Beach in Noosa, and Somers on the Mornington Penisula, median house prices have more than doubled in the space of five years.
However, growth has been more subdued in other markets, Domain data shows, with prices in some suburbs and towns near the coast still back at, or close to, their 2016 levels.
Here’s our pick of some of the markets where house hunters can get into the market at a similar price to five years ago. But be warned, house prices in many of these locations are on the rise.
While house prices in Cairns were up 16.3 per cent over the five years to June to a median of $465,000, there are suburbs a little inland with softer price growth.
Earlville, about four kilometres south-west of the city centre, recorded a median house price of $395,000 over the year to June, up about 4.1 per cent on 2016 prices.
While further south, median prices in the neighbouring suburbs of Edmonton and Bentley Park climbed 3.9 per cent and 1.7 per cent, respectively, over the five-year period.
Selling agent Therese Plath, principal of Ray White Cairns South, said there was strong demand for affordable homes in Bentley Park and Edmonton from locals looking to upsize, interstate tree-changers and investors.
At Bentley Park’s median house price of $371,250, buyers might get a four-bedroom house with one or two bathrooms, Ms Plath said but noted buyers on such a budget were increasingly having to look at three-bedroom homes due to rising prices over the past year. Edmonton’s median now sits at $366,000.
Though not directly on the coast, Bently Park and Edmonton are within a 40-minute drive of multiple beaches and 20 minutes from the Cairns Esplanade, while Earlville is about 10 minutes closer.
West End, Townsville, QLD
Further south, but still in north Queensland, prices in Townsville’s West End are now 1.8 per cent higher than 2016 prices, after the median fell 2.4 per cent over the year to June to $351,250.
Those looking to buy at the suburb’s median house price could expect to secure a three-bedroom, one-bathroom house within a 10-minute drive of Townsville’s foreshore.
Across Townsville, the median house price is up 4.4 per cent over the past five years to $340,000.
Article Source: www.domain.com.au
What’s within walking distance from Bide apartments
Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD
The latest inner-Brisbane apartment project by the local developer Dibcorp Properties is Bide, which is located in the heart of the upmarket riverfront suburb of Newstead.
The location of the 89-apartment development Bide, at 21 Longland Street, puts it just a stone’s throw from the Brisbane River, and the convenience of the Teneriffe Ferry Wharf which connects the suburb to the CBD.
Residents will have immediate access to Gasworks Plaza on the adjoining Skyring Terrace riverfront street, which is home to a Woolworths and a numb er of other stores, as well as restaurants, cafes and coffee shops like Ping Pong, Yolk and Campos Coffee.
On Longland Street there’s the popular eateries include Smoky Moo, The Defiant Duck, Drum Dining and the Milky Lane Newstead.
Cutting across Longland are a number of side streets like Stratton and Wyandra, which have a number of retailers and boutiques for residents to explore like a Think 24hr fitness, Smile Studio, and Brisbane Skin.
Designed in collaboration with architects from Twohill & James, Lat27 and Wiltshire Stevens Architecture.
Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD.
It is the latest part of the suburb’s transformation to an up-market residential suburb belying its industrial past. Timber yards, asbestos works, wharves and woolstores once dominated much of the predominantly commercial suburb, now one of the most sought-after apartment spots in Brisbane.
Bide is just a short distance away from Route 25 as well as the Teneriffe Ferry wharf and bus stations for those who choose public transit. As such it is right by the Brisbane river.
The proximity to schooling, as well the large three-bedroom apartments on offer, make Bide attractive for families. The nearby educational institutions include:
- Torrens University Australia – Satellite campus – 1.4km away
- University of Queensland – Satellite campus – 1.9km away
- Queensland University of Technology – Main campus – 3.3km away
- New Farm State School – Public School – 1 km away
- Music Industry College – Private School – 1.1km away
- Angelorum College – Private School – 1.1km away
Dibcorp has offered residents the opportunity to work hand in hand to tailor the layout, configuration and finishes of their apartment.
Apartments inside feature open-plan living and dining, a balcony space and a study nook in some apartments for working from home.
Inside, residents can enjoy 600 sqm of amenity across two levels, including barbeque facilities, private cabanas, landscaped areas and seated space throughout.
Article Source: www.urban.com.au
Brisbane’s best property buys: Six must-see homes under $700,000
Here’s our pick of some of the best property buys in Brisbane right now.
3/888 Wynnum Road, Cannon Hill
Eight is one of the luckiest numbers in many cultures, promising owners of this inner east home fortuitous times ahead. The two-bedroom, two-bathroom, 147-square-metre apartment certainly has a well-positioned tiled ground-level courtyard, ready to host soirees under the Brisbane sun or starlight. It is a massive 7.8 metres by 6.9 metres and faces the lush green ovals of Bill Cash Memorial Park.
LJ Hooker, Ashleigh Hansom 0448 742 538
2404/179 Alfred Street, Fortitude Valley
Bridge-spotters get an eagle’s nest view of one of Queensland’s most iconic at this sky home. The two-bedroom, two-bathroom apartment comes with 78 square metres of title and uninterrupted views of the Story Bridge and inner-cityscape. It claims a lofty level 24 vantage point and its edgy designer tower has a suite of you-beaut perks for residents, including a pool, timber sun platforms, a state-of-the-art gym, cinema room and lounge area.
Ray White, Kai Liu 0430 568 851
42 Bulgin Avenue, Wynnum West
Multigenerational living is catered for at this three-bedroom high-set house, on the market for the first time since the mid-1970s. Upstairs the floor plan maps out three bedrooms, a living, dining, a sunny front porch, and a shady rear terrace to take in the green landscape of the back yard. Downstairs, buyers get a second kitchen, another toilet and a miscellaneous room that could function as a study, another bedroom or studio.
Raine & Horne, Chris Vote 0433 411 540
5/370 Zillmere Road, Zillmere
Sports nuts hunting a first home or rental asset will find good form at this two-bedroom pad in its neat three-storey brick walk-up. The apartment is a punt kick from O’Callaghan Park and the suburban police-citizens youth centre. It has a garage and has been freshened up with new carpets, lights and paint. The local primary school is about 600 metres away.
Ray White, Tiffany Fraser 0451 348 787
5/48 Hood Street, Sherwood
This quirky one-bedroom rear apartment in the city’s leafy west riverside belt presents buyers with 71-square-metres including a covered timber deck with a private garden outlook. There is scope to modernise the interior, although the exposed brick walls and wood-grain kitchen cabinets are charming in their own retro-rustic way. The local primary school is diagonally a block away.
Williams Real Estate, Nick Williams 0419 379 771
9/14 Military Close, Annerley
At face value, this is a screaming good deal for three levels of home less than six kilometres from the CBD. The suburb’s median sale price for a three-bedroom house is $783,000, based on 48 sales in the past 12 months. House-like in size, this 168-square-metre townhouse has access to the estate’s infinity pool and residents’ entertainment deck. Junction Park State School is about 200 metres away to the north-west.
Place, Nick Bekker 0421 461 520
Article Source: www.domain.com.au
What happened to Brisbane apartment values over August?
Queensland has benefitted from record low vacancy rates, with southern state dwellers heading north during the pandemic over 12 months ago
Brisbane apartment values surged over August, jumping 1.4 per cent, according to the monthly update from property data firm CoreLogic.
It was the Queensland capital’s best performing month in 2021 and took the rolling quarterly gains to 1.6 per cent, following 0.8 per cent gains over July and 0.7 per cent in June.
Values are now 7.7 per cent higher than they were at the start of 2021, when the median apartment price was $390,000. Now it’s $425,000, CoreLogic calculate.
Queensland has benefitted from record low vacancy rates, with southern state dwellers heading north during the pandemic over 12 months ago.
The June 2021 quarter data from the Real Estate Institute of Queensland showed that nearly two thirds of local government areas in Queensland recorded their lowest or equal lowest residential vacancy rates since 2010.
Of the 35 local government areas, 20 saw their vacancy rates tighten, 10 remained static and five saw them slightly rise in the June quarter.
Brisbane’s vacancy rate dropped from 2.1 per cent to 1.7 per cent from the previous quarter. The Gold Coast’s remained static at a tight 0.6 per cent and the Sunshine Coast’s was slightly higher, from 0.5 per cent to 0.6 per cent.
Around Greater Brisbane, Ipswich stayed at one per cent, Logan slightly tightened from 1.1 per cent to one per cent while Moreton Bay remained the same at a low 0.7 per cent. Redland was tight at 0.5 per cent, falling from 0.6 per cent, while the Scenic Rim dropped from 0.8 per cent to 0.7 per cent.
REIQ chief executive Antonia Mercorella said the perfect storm of conditions thrown up by COVID-19 appeared to still have their grip on vacancy rates in the Sunshine State.
“It seems the COVID-19 phenomenon of people moving to the regions for lifestyle purposes is still having an effect on vacancy rates,” Mercorella said.
“With more people taking the opportunity of working remotely and not having to commute regularly to their offices, they are succumbing to the lure of moving to a region where they can enjoy a sea or tree change lifestyle.
“This could be reflected in regions around Brisbane such as the Gold and Sunshine Coasts and even further afield, where people can work remotely and commute to the capital city when necessary.
“The lifestyle motivation is strong interstate, with people seeking an escape to Queensland from the southern states. According to the Australian Bureau of Statistics (ABS), Queensland recorded a net gain of 9800 interstate migrants in the December quarter – the highest of any state or territory.
“Greater Brisbane also recorded the highest net internal migration rate of any capital city in the December quarter – with 4800 arrivals. By comparison, Sydney and Melbourne lost 9300 and 8500 people respectively. In terms of overseas migration, half a million Australian expats have returned since the pandemic began.
“In central and northern Queensland, a ramping up of the resources industry and a recent revival of tourism’s fortunes (at least until the current interstate lockdowns) could be attracting workers to these regions, putting pressure on vacancy rates.”
Mercorella said while owner-occupiers had been dominant in the residential property sales market, investors were becoming more active.
“In May according to the ABS, the number of new housing loans taken out by investors rose 13.3 per cent to $9.1 billion – the highest amount seen since June 2015.
“A return of investors to the market will likely increase the number of rental properties available and reduce pressure on vacancy rates, potentially providing some relief for those struggling to find a rental.”
Article Source: www.urban.com.au
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