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Brisbane suburbs going up in value

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Moreton Investor, Property Management, Investment properties, Real estate Moreton, Mortgage Broker Moreton, Moreton property market, Moreton property prices, rental properties,

Property and rental value in some of Brisbane’s suburbs is increasing. Check out this list to see if your suburb is the place to invest in 2014.

NundahMoreton Investor, Property Management, Investment properties, Real estate Moreton, Mortgage Broker Moreton, Moreton property market, Moreton property prices, rental properties,

Where is it: 8km north-east of the CBD, next to Toombul and Geebung.

Why it’s trending: Property prices are still relatively low, given its proximity to the city and great transport links. The recent ‘I (heart) Nundah’ campaign is hinting at its growing appeal to a younger market.

Median rent: $425/week for a three-bedroom

Median sale price: $610k for a four-bedroom

Cultural hotspots: Centred Art on Hamson Terrace, with its curated selection of Indigenous and local art.

Foodie hotspots: Nundah Village has a good selection of independent cafes for weekend brunches, and you’re a 10 minute drive to Paddington and Red Hill.

Who your neighbours are: Young families who work in the city.

Wynnum

Where is it: Next door to Manly on the east coast of Brisbane, approx. 16 km from the CBD.

Why it’s trending: Bayside properties are the next big thing in Brisbane, as people move out of the overpriced inner-west and seek seaside living with good links back to the CBD.

Median rent: $400/week or a three-bedroom

Median sale price: $417k for a three-bedroom

Cultural hotspots: Wynnum Markets – held daily – have some excellent vintage treasures and antiques for the home, as well as showcasing local artists

Foodie hotspots: There are some great local cafes opening up along the waterfront, as well as a good selection of high-street chains – Capers Pizza, Sushi Train etc. The older-style waterfront pubs are enjoying a revival and serve great food.

Who your neighbours are: Aspirational 35 to 44 year-olds with teenage children.

Chermside

Where is it: 10km north of the CBD, next to Aspley.

Why it’s trending: Once seen as the daggy stopping point between the CBD and the northern suburbs, Chermside is coming into its own as an affordable, convenient and bustling suburb with excellent transpor.

Median rent: $390/week for a three-bedroom

Median sale price: $440k for a three-bedroom

Cultural hotspots: Forget Westfield Chermside – although it is convenient – and head up Gympie Road towards Wooloowin for local galleries and theatres.

Foodie hotspots: Scuzi at Westfield Chermside is surprisingly good for Saturday brunch, while Bella Cosi serves authentic Italian in a beautiful space.

Who your neighbours are: Independent 20 to 30 year-olds who work both creative and public sector jobs.

Annerley

Where is it: 6km south of the CBD (and 3km from UQ St Lucia using the Green Bridge), Annerley connects to the rest of Brisbane via Ipswich Road and easy access to the Clem 7 tunnel.

Why it’s trending: Several new apartment blocks and a new shopping complex are turning the tired Annerley strip into somewhere convenient and fresh. Trendy cafes are popping up and the new Red Lotus and Billy Kart Kitchen have been immediate hits with locals.

Median rent: $450 per week – units $380 per week

Median sale price: $535,000 – units $378,666

Foodie hotspots: Groove Café, Billy Kart Kitchen, Café O-Mai, Azafran, Red Lotus, BOX’D Espresso Bar.

Who your neighbours are: Young professionals (25-34 years) with children.

Auchenflower

Where is it: 3km south of the CBD, next to Toowong and Milton.

Why it’s trending: Toowong’s little sister is growing into her own – close to the city, UQ St Lucia and the hotspots of Paddington and Toowong, Auchenflower is a quiet achiever and certainly one to watch

Median rent: $530 per week for three bedroom

Median sale price: $760,000 for three bed

Cultural hotspots: Mt Coot-tha Botanic Gardens.

Foodie hotspots: Café Auchenflower, Deer Duck Bistro, Toro Bar, Grimes Bistro.

Who your neighbours are: University students and young professionals.

Tennyson

Where is it: Just under 10km from the city – easy access via train line.

Why it’s trending: The new Queensland tennis centre is just the beginning for Tennyson. Close to hotspot Yeronga, Tennyson’s development is pointing in the direction of up-and-coming. If gentrification plans for Yeerongpilly go ahead, Tennyson (with its low investment prices) will be the place to be.

Median rent: $420 per week for three bedroom

Median sale price: $529,000

Cultural hotspot: Queensland Tennis Centre.

Foodie hotspots: Buzz Tennyson, The Hyde Out, Anesis.

Who your neighbours are: Older couples and families.

 Dutton Park

Where is it: Dutton Park lies east of the Brisbane River, opposite from St Lucia. It’s 4km from Brisbane CBD, a 5-7 minute drive or 14 minutes by train.

Why it’s trending: Dutton Park’s appeal lies in its river frontage and proximity to the CBD. Many of the old style cottages have been recently renovated into modern apartments. It’s well serviced by public transport, and currently look forwards to development of the Boggo Road precinct – proposed to be a residential, retail and commercial centre.

Median rent: $540/week for a three-bedroom

Median sale price: $624k for a three-bedroom

Cultural hotspots: Dutton Park is dominated by a recreation area which is popular for picnics, tranquil riverside walks and a free-leash area for your furry friend. Otherwise, most locals head to the city for cultural events.

Foodie hotspots: Woolloongabba is a stone’s throw from Dutton Park, where an upcoming bar scene can be found. The Canvas Club, Chalk Hotel and Brewhouse Brisbane are the best picks of the bunch.

Who your neighbours are: It has a population of approximately 4100, comprised mostly of independent, working adults.

Fun Fact: The Boggo Road Gaol opened in 1883, and was only demolished in 1996.

Balmoral

Where is it: Balmoral is an inner eastern suburb, 9km from the CBD, a 10-15 minute drive, or 20 minutes by train.

Why it’s trending: Balmoral was the top Brisbane suburb for house value growth in 2013, with a rise of 15.2 per cent. It’s also a neighbour of Bulimba – a popular, picturesque village.

Median rent: $700/week for a three-bedroom

Median sale price: $677k for a three-bedroom

Cultural hotspots: Balmoral Park and the Cineplex are two local hangouts spots for the weekend.

Foodie hotspots: The Oxford Street precinct has plenty of award-winning alfresco dining options.

Who your neighbours will be: The median age for Balmoral is about 35, and is populated by working adults, established couples and families.

Fun Fact: Balmoral is an Anglicisation of Baile Mhoireil’ which is Scottish Gaelic for ‘beautiful residence’ or ‘majestic castle.

Mitchelton

Where is it: Mitchelton is 8km northwest from Brisbane CBD, a 15-20 minute drive or 35 minutes by train.

Why it’s trending: Many Brisbane families have found an ideal home in Mitchelton. The parks and recreation facilities, schools and low crime rate have been ranked as the top factors.

Median rent: $360/week for a three-bedroom

Median buy: $480k for a three-bedroom

Cultural hotspots: Brookside Shopping Centre is the largest retail precinct in northwest Brisbane

Foodie hotspots: Mitchelton residents flock to the farmers’ markets, held monthly on a Sunday morning, for the gourmet delicatessen foods, fresh produce and artisan breads.

Who your neighbours will be: Established/older couples and families with children. Mitchelton also has a diverse, multicultural community.

Fun Fact: Mitchelton’s name comes from one particular English family, who settled in the area in the 1870s

Sandgate

Where is it: Sandgate is a coastal suburb located 16 km north of the Brisbane CBD.

Why it’s trending: Sandgate’s position on Brisbane’s coastline is attracting families who want a relaxed lifestyle, while still being within a close commute to the Brisbane CBD.

Median rent: $410/week for a three-bedroom

Median buy: $473k for a three-bedroom

Cultural hotspots: Sandgate hosts a range of festivals and markets each year, including the Sandgate Bluewater Festival and the Music By The Sea Festival.

Foodie hotspots: There are plenty of seaside cafes and takeaways opening up along the Sandgate waterfront including Little Crepe Factory and Dougs, as well as a new cool and quirky drinking establishment Cardigan Bar.

Who your neighbours will be: Established/older couples and families and elderly singles.

Redcliffe

Where is it: Redcliffe is a residential suburb of the Moreton Bay Region, approximately 28 kilometres north-north-east of Brisbane.

Why it’s trending: The Moreton Bay Region is one of the fastest developing places in Australia and with its low median prices Redcliffe appeals to older generations wanting a getaway from the city, without living on the coast

Median rent: $330/week for a three-bedroom

Median buy: $330k for a three-bedroom

Cultural hotspots: The Redcliffe Jetty markets are on every Sunday on the Redcliffe foreshore.

Foodie hotspots:  Redcliffe has plenty of pubs, clubs and cafes along its foreshore including Brick Bistro Bar, The Rustic Olive, Workshop Co. Expresso Bar, and Feel Goodz Gourmet Café.

Who your neighbours will be: Elderly singles, older couples and families and older independence.

Carindale

Where is it: Carindale is located 10 km east of the Brisbane CBD.

Why it’s trending: With its close proximity to the city and affordable pricing, there has been an increase in independent youth and maturing couples venturing to this east side suburb.

Median rent: $450/week for a three-bedroom

Median buy: $570k for a three-bedroom

Cultural hotspots: Carindale is home to Westfield Carindale,which became the sixth-largest shopping centre in Australia on completion of redevelopment in 2012.

Foodie hotspots: Carindale offers a diverse international palette, with some of the favourite hotspots of this suburb according to Urbanspoon being Chang Tong Thai, Asia House Chinese, Roman Empire restaurant, A Night In India and Backstreet Expresso.

Who your neighbours will be: Older couples and families and older independents are currently among the majority in Carindale, with younger trends recently being seen in the suburb.

 

Original article published at www.bmag.com.au  6/3/2014

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Queensland Budget 2018: What it Means for the Property Industry

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Queensland Budget 2018: What it Means for the Property Industry
Queensland Treasurer Jackie Trad handed down the Queensland State Budget on Tuesday, delivering a surprise $1.5 billion surplus and putting an extra $200 million into people’s pockets.

This year’s budget focused on infrastructure, tourism and mining funding.

Property investors will also be met with a 0.5 per cent increase in the land tax rate for aggregated holdings above $10 million, as well as an increase in the additional foreign acquirer duty from 3 per cent to 7 per cent.

The government also announced it will cut back the first home owners’ grant.

So what does the state budget mean for the property industry?

Here is what you need to know.

Additional Foreign Acquirer Duty

Aligning with states nationwide, the Queensland government announced an increased rate for additional foreign acquirer duty.

The AFAD is an additional tax on relevant transactions that are liable for transfer duty, landholder duty or corporate trustee duty which involve a foreign person directly or indirectly acquiring certain types of residential land in Queensland by foreign persons.

The duty will rise from 3 per cent to 7 per cent and is forecasted to result in an increased revenue of $33 million per annum.

Infrastructure Improvements

The state government will dedicate $4.217 billion to transport and roads.

The Sunshine State’s long-awaited duplication of the Sunshine Coast rail line received $161 million.

The Toowoomba Second Range Crossing project received $543.3 million, a route to the north of Toowoomba from Helidon to the Gore Highway.

Brisbane’s Cross River Rail received $733 million to go toward the $5.4 billion project. The federal government failed to pledge any assistance towards the Cross River Rail project earlier this year leaving the state government to foot the bill.

There’s also $487 million over four years for upgrades to the M1 on Brisbane’s south and on the Gold Coast.

Queensland Budget 2018: What it Means for the Property Industry

Proposed Exhibition station on Cross River Rail. Artist’s Impression.Image: Cross River Rail Authority

First Home Buyers Grant Slashed

First home buyers have come to expect a $20,000 starter grant since 2016 will now see it cut to $15,000 if they buy a house from July onwards.

The $5,000 boost had been added to the grant in 2016 by former Treasurer Curtis Pitt, with the measure supposed to be in place for just one year.

It was extended twice in six-months until the end of 2017 and then to June of this year.

Land Tax Increase

Under the new taxes introduced in Tuesday’s budget, foreign landowners with more than $10 million worth of landholdings will now be in line for a 0.5 per cent increased rate of land tax.

Individuals with properties worth more than $10 million will now incur an additional rate of 2.25 per cent (or 2.5% for trusts or companies) for every dollar of taxable value over $10 million.

This is expected to bring in $71 million in revenue in its first year, with a projected 11 per cent increase in 2018-19 land tax revenue.

Source: brisbaneinvestor.com.au

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Foreign investment in Australia’s housing market collapses: FIRB

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Foreign investment in Australia’s housing market collapses: FIRB

The FIRB has revealed a fall in foreign investment in new apartments in Australia.Source:Supplied

FOREIGN investment in Australia’s housing market has fallen, amid waning investor appetite and tighter lending standards.

OFFICIAL data has confirmed a collapse in approvals for foreign investment in Australia’s housing market, amid waning investor appetite, higher charges and tighter lending standards.

The Foreign Investment Review Board’s annual report reveals a 67 per cent fall in residential real estate approvals last financial year — down from 40,149 approvals to 13,198.

The value of FIRB approvals also plunged, from $72.4 billion to $25.2 billion in fiscal 2017.

The report reveals 18 per cent of approvals to foreigners were for residential real estate in Queensland in 2016-17.

Foreign investment in Australia’s housing market collapses: FIRB

Proportion of residential real estate approvals by state and territory in 2016-17. Source: FIRB.Source:Supplied

Victoria and New South Wales remained the favourite destination for investment, accounting for nearly three-quarters of all approvals granted.

The FIRB said a significant factor contributing to the reduction in approvals was the introduction of application fees from December 2015.

“The introduction of fees resulted in investors only applying for properties they intend to purchase,” the report said

Foreign investment in Australia’s housing market collapses: FIRB

FIRB Residential Real Estate Approvals by Year.Source:Supplied

“Prior to the introduction of fees, individuals often made several applications earlier in the process when considering multiple properties, even though they might have only ended up purchasing a single property.

“This suggests that the resulting reduction in approvals may not imply a corresponding a reduction in actual investment in residential real estate. That is, the actual decline is likely to be lower than implied by the data.”

Foreign investment in Australia’s housing market collapses: FIRB

The FIRB has revealed a significant drop in foreign investment approvals for residential real estate in Australia.Source:Supplied

Along with the introduction of state-based taxes on foreign investors, the FIRB said weaker demand from China was another factor behind the decline in approvals granted.

Investment in new apartments from mainland Chinese investors dropped significantly in 2016-17.

AllenWargent Property Buyers chief executive Pete Wargent said the figures would have some significant impacts on the new apartment sector, construction trends, and the broader economy — especially in Sydney.

Foreign investment in Australia’s housing market collapses: FIRB

The FIRB says weaker demand from China impacted the fall in approvals.Source:Getty Images

Mr Wargent said he expected Sydney to experience the greatest number of failed apartment projects, with increasing signs of discounting on new apartments.

“Perhaps this was an inevitable end-game for this cycle, where development has been too much skewed towards apartments for investors, and too little towards the types of medium-density dwellings that people want to reside in,” he wrote in his blog.

But Chinese international real estate website Juwai.com chief executive Carrie Law played down the reported decline in Chinese demand.

Ms Law said that in the second half of 2016, Chinese buyers were investing in Australian real estate at an almost irrational pace.

“It was like money falling from heaven for vendors and developers,” Ms Law said.

“In early 2017, capital controls, financing restrictions, and foreign buyer taxes reduced Chinese investment to more reasonable levels.

“Since November 2017, we seem to have entered a period of more sustainable long-term growth.”

Ms Law said Chinese buying enquiries for Australian property in March were 5.7 per cent higher than the month before and in April they were 22.3 per cent higher.

“Unfortunately, this year’s FIRB data is not directly comparable to that of prior years, due the change in regulations and buyer behavior,” she said.

“The big declines are partly due to lower demand, and mostly due to the changed application fees.”

Source: brisbaneinvestor.com.au

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Which suburbs are seeing high interstate migration?

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Which suburbs are seeing high interstate migration?
Everyone wants a slice of a capital city, but some people just cannot afford it. Instead, people are moving to other affordable areas located in greater capital city areas. Here’s the latest data on interstate migration movements.

Analysed by Propertyology, the interstate migration figures indicate to head of research Simon Pressley that interstate migration is a trend that is likely to continue for years to come as people look for affordable property.

“The Great Australian Dream is alive and well and the latest data proves that people are prepared to uproot and move to make that dream a reality,” Mr Pressley said.

“The big winners are affordable locations within our capital cities with thousands moving either intra- or interstate to get a foot on the property ladder.

“Affordability will continue to be the deciding factor for buyers in the years ahead, which augurs well for many of these outer-ring locations.”

Here’s the movements in some of the biggest markets around the country:

Brisbane

The biggest movements for the greater Brisbane area were Moreton Bay with 5,110 arrivals and a median house price of $455,000, Ipswich with 2,332 arrivals and a median house price of $345,000 and Redlands with 1,237 arrivals and a median house price of $531,000.

Mr Pressley pointed out that the state of Queensland was currently undergoing an interstate migration boom, seeing over 17,000 residents in a single year.

“Greater Brisbane is made up of only five city councils, all of which were beneficiaries of positive internal migration last year,” he said.

“Once again it seems that affordability was a key driver with the more expensive metropolitan Brisbane attracting the smallest portion of interstate migration while Moreton Bay welcomed the lion’s share.

“In fact, its population of about 440,000 people is expected to grow by a staggering 200,000 in the next 20 years — and its affordability is a big part of the reason why.”

Source: brisbaneinvestor.com.au

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