Connect with us

Market Place

Coast grows into ‘mini-Adelaide’



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

LEADING demographer Bernard Salt has labelled the Gold Coast a “mini-Adelaide”, saying a national report has provided proof that the city was growing up.

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

The State of Australian Cities 2013 report came out yesterday showing a 10 per cent jump in the population numbers for the Gold Coast-Tweed area, while household income climbed 10.7 per cent from 2006 to 2011. Household income hit $1125 a week here, but was still below the national median income of $1243.

Mr Salt said the figures backed up his view that the Coast was becoming a bigger and more sophisticated city.

“As the Gold Coast gets bigger, it is normalising,” he said.

“There are less retirees and it is no longer `God’s waiting room’.

“It is pushing 600,000 people and is half the size of Adelaide.

“A city of that size loses its rough edges.

“You could say that the Gold Coast is boring up.”

The report showed that the city’s population was boosted both by people moving here and existing residents, since the birth rate was almost double the death rate.

From 2010 to 2011, 7360 babies were born here, while 3894 Gold Coasters died.

In comparison, 2347 more people moved to the Gold Coast-Tweed region from other parts of Australia than the number who left the city to live somewhere else in the same period.

The State of Australian Cities report also went into detail about employment on the Coast — showing that the number of males and females was up in the 12-month period, sitting at 77.7 per cent and 50.1 per cent respectively.

Despite the increase, the city was still slightly below the national average in both areas.

Most men were employed in construction (19.4 per cent) and manufacturing (10.8 per cent), while retail (10.2 per cent) came in third (10.2 per cent) in the list of largest employers in the city.

Boss of Gold Coast luxury boat builder Riviera, Wes Moxey, said yesterday that manufacturing continued to be one of the city’s largest industries — despite tough market conditions.

“It has been really challenging thanks to the high Aussie dollar and the overall slump in demand,” he said.

“There has also been a real lack of support from the Federal Government and overall confidence.”

Mr Moxey said manufacturing jobs could be set to increase further on the Gold Coast as companies like Riviera positioned themselves for the next boom.


Original article published  by Lucy Ardern  1/8/2013

Market Place

Cost of Brisbane land lots fall 14pc as blocks shrink across the capital



Cost of Brisbane land lots fall 14pc as blocks shrink across the capital

6 & 8 Nabeel Place, Calamvale, was part of a 1,400sq m site that was split and re-split to see the development land gross profit of $500,000.Source:Supplied

THE cost of residential land in Brisbane fell a massive 14 per cent last year with lots on the Gold Coast now more expensive than the Queensland capital. But the devil’s in the detail.

New data by Oliver Hume found buying a block in Brisbane set buyers back $358,500 at the end of last year – a median price drop of 14 per cent in just 12 months.

Land on the Gold Coast was $25,700 more expensive than Brisbane, according to the latest Oliver Hume Quarterly Market Insights, with the glitter strip pulling off an 8 per cent rise in median lot price to $384,200.

But Oliver Hume senior research analyst Amanda Bittenbinder said Brisbane’s massive median price decrease was not because of a struggling market but the type of blocks that were coming to market.

“The Brisbane market is shifting towards smaller lot sizes, due to land availability and affordability,” she told The Courier-Mail.

“Our data shows that 48 per cent of project land sales in Brisbane over Q4 2017 were between 301-400sq m whereas the Gold Coast recorded 52 per cent of sales over 500sq m.”

She said the Gold Coast had a higher median lot size than Brisbane.

Broken down, the data showed “the rate per sqm in Brisbane was $899/sq m in Q4, whereas the Gold Coast recorded $513/sq m – that’s a difference of $386 per sq m”.

In the December quarter alone, 1,956 lots were sold in South East Queensland, a fall of 5.5 per cent that had more to do with stock availability than demand.

Agent Tom Zhang of Yong Real Estate said demand was outstripping supply in Brisbane.

One of his recent sales included 6 and 8 Nabeel Place, Calamvale, which was part of a larger 1,400sq m block that a developer had bought for $1.1m.

“A developer bought it, they subdivided the rear 800sq m out and further subdivided that into two 400sq m blocks. For 400sq m that was selling for over $400,000 each. Those two blocks at the back sold for $800,000 and he still has the front house that will sell for more than $800,000. So his total income of over $1.6m minus development costs still ends up a fantastic return in a short period of time.”

<a href="" title="">122 Roscommon Road, Boondall</a>, was split in two with each block on the market for over $350,000.

122 Roscommon Road, Boondall, was split in two with each block on the market for over $350,000.Source:Supplied

He said “small to medium developers are so hungry for this type of product”.

“It’s easy to sell the land. The normal homebuyer can’t afford big blocks but a 400sq m block they might be able to. The worry now is the low supply of empty blocks of land in Brisbane and in the southern suburbs like Sunnybank and Calamvale.”

Redland – which includes mainland suburbs like Capalaba and Alexandra Hills as well as island suburbs like North Stradbroke and Coochiemudlo Island – had SEQ’s third highest block cost. Its median land lot was $312,000, a figure that had dropped 3 per cent last year.

Popular Moreton Bay – which covers a large area including Caboolture and Redcliffe – saw a 4 per cent fall to $238,000, while the second cheapest land lots in SEQ came out of Logan where the median was holding steady at $230,475.

The cheapest place to buy land in the region was Ipswich ($199,500), though that’s changing rapidly with the area posting the second highest cost increase last year (4 per cent).

Despite low retail land supply and strengthening demand, the median land lot price in Queensland was fell slightly to $260,500, the Oliver Hume report said – mostly because of shrinking block sizes.

Median Retail Lot Price:

Moreton Bay $238,000 (-4%)

Redland $312,000 (-3%)

Logan $230,475 (0%)

Brisbane $358,500 (-14%)

Ipswich $199,500 (4%)

Gold Coast $384,200 (8%)

Originally published:

Continue Reading

Market Place

The best brand new developments in south-east Queensland



The best brand new developments in south-east Queensland
Continue Reading

Market Place

Property sales strong as Mango Hill house listed for $1.1 million



Property sales strong as Mango Hill house listed for $1.1 million

North Lakes is one of the top three outer Brisbane areas where property prices are appealing to more homebuyers, new figures reveal.

It was one of seven suburbs within the greater Brisbane region where more than 400 houses were sold in the past 12 months, according to new figures from CoreLogic.

Caboolture leads the pack with 492 houses sold, with Morayfield close behind with 452 sales.

North Lakes recorded 436 house sales during the period and all seven suburbs had median house ­prices of less than $490,000.

Amanda Pearce from Raine & Horne North Lakes said the area’s attractiveness for families was one of the main reasons people wanted to move here.

“When I’m talking to my clients and asking them why they are looking to move to North Lakes, there is usually more than one reason,” she said.

“They have heard that North Lakes is not just a community but a family and they want their kids to grow up where they can go to school with the same friends.

“More than 60 per cent of the North Lakes population are families with children.”

Ms Pearce said some of her clients were either moving from interstate to get away from city life, or because the suburb had everything they wanted nearby.

She said more than 680 houses, units and lots had been sold since January 1 last year.

“The change in the median house price in 2017 in North Lakes was at plus 3.28 per cent compared to the Moreton Bay region, which was plus 2.73 per cent,” Ms Pearce said.

Raine & Horne’s Adam Ingram said shopping and transport facilities also added to the attractiveness of the North Lakes area.

Matt Goodall from NVRE Agents at Narangba has a house at Mango Hill listed for sale for offers of more than $1.1 million.

He said as far as he knew nothing had previously sold for the magic million-dollar mark at Mango Hill.

“It is the first of its kind at the moment,” he said.

Mr Goodall said the two-storey house was a standout in the street, as it was on a slightly elevated block.

“It has a unique design and certainly won’t suit everyone that comes through,” he said.

Originally Published:

Continue Reading

Make Your Super Work

smsf property investment smsf borrowing

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

investment property calculator successin property