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Good news for property owners in Moreton

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

TEMPERATURES may be dropping but real estate agents agree, the property market is starting to heat up.

As we now head iMoreton Investor, Property Management, Real estate Moreton, Mortgage Broker Moreton, Moreton property market,Moreton property pricesnto winter, RP Data statistics show 337 Queensland properties were scheduled to go under the hammer last week.

Australian Property Monitors preliminary Saturday auction results show 28 sales from 57 auctions, resulting in a clearance rate of 45 per cent. The official figures come out on Tuesday.

It was the second largest auction week this year, behind the 393 total for the week of March 18 but higher than the 309 for January 28 – which was influenced by a Ray White Auction Spectacular event.

Industry experts believe this winter will be a good selling season, citing increased buyer inquiry, greater numbers of inspections and improved market confidence.

Place CEO Damian Hackett said the market had been steady for 18 months and people recognised that the bottom had been reached.

“Looking back at the last four or five years, I think the dynamics are there to have the best winter season since 2007,” he said.

RE/MAX Australia managing director Michael Davoren said low stock levels and high buyer numbers would drive a strong market.

“Lack of confidence has held the property market back, even when affordability is attractive with lower interest rates and prices down,” he said.

“The market is now dealing with the pent-up demand and the reality is that people will be buying and selling without a thought to the season.”

Optimism has improved since last winter according to Ray White Queensland CEO Peter Camphin who said there was now “more buzz” in the market place.

He said stock levels were tight and advised people thinking of selling to list now – instead of waiting for the more popular spring season when there would be increased competition.

“I think it is going to be a strong trading period this winter,” Mr Camphin said.

“It’s not over-inflated optimism from a real estate person, we are seeing more people coming to open for inspections. It is a good time to sell.”

Belle Property agent Debora Sutton agreed that optimism had returned.

“We are still getting record numbers at open homes and multiple bidders at auction,” she said.

“People have been waiting for the right time to buy. If they see something they like, they are buying.”

LJ Hooker Toowong sales consultant Daniel Lee has noticed a high level of unseasonal interest in auction campaigns from would-be sellers.

“Spring is traditionally the strong auction season,” he said.

“But at the moment, the combination of historically low interest rates and encouraging market improvements has motivated buyers who have sat on their hands for the last few years.

“Winter is typically a quieter time for the auction market, but that notion is going to be tested this year because of where we’re positioned in the market cycle.”

Mr Lee said his office had conducted 61 inspections and multiple valuations during the auction campaign for a four-bedroom home in Murray St, Taringa.

A five-bedroom, two-bathroom contemporary home in Orcades Rd, Yeronga, was also popular, again attracting more than 60 inspections during a three-week open home campaign.

Marketing agent Tegan Zernike of Place Newmarket said the numbers were encouraging.

The property sold under the hammer on Saturday for $950,000.

“There is not a lot of stock at the moment so we are seeing better open home numbers and properties are selling faster,” she said.

“Buyers are not so spoilt for choice.

“There is competition for quality properties priced correctly.”

 

Original Article published www.couriermail.com.au   by Paula Shearer 3/6/2013

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Where it’s cheaper to buy than rent in Queensland

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Where it’s cheaper to buy than rent in Queensland

HOUSING in Queensland is more affordable than it was a decade ago, with many areas now cheaper to buy a property in than to rent one.

A new report by ANZ and CoreLogic reveals household incomes have risen at a faster rate than home values in the Queensland capital – particularly in the last quarter of 2018.

It means the housing market is more affordable for those buying or saving for a deposit.

Greater Brisbane suburbs like Beenleigh, Caboolture, Springwood and Ipswich are now more expensive to rent in than to pay off a mortgage.

Where it’s cheaper to buy than rent in Queensland 1

In regional Queensland, housing affordability is even greater, with most areas from the Darling Downs to Cairns much cheaper to buy in than rent.

Over the past decade, median dwelling values across the state’s regions have lifted by just 4.4 per cent, while household incomes have increased by a much greater 28.9 per cent.

It is now significantly cheaper to buy a home than rent one in Biloela, with the report estimating it would take only 2.5 years to save a 20 per cent deposit.

“Anywhere around the mining areas have seen steep value declines and that has impacted affordability,” ANZ managing director of consumer banking Kate Gibson said.

“It doesn’t mean it’s a great idea to go rushing in, but we’re starting to see locals who had been priced out (of the market) now in a position to get back in.”

Where it’s cheaper to buy than rent in Queensland 2

The average household income in Brisbane has jumped more than 31 per cent in the past 10 years, while median home values have increased by 25.8 per cent.

It takes eight years for an average household to save a 20 per cent home deposit, based on a median home value of $493,568 and saving 15 per cent of their income.

But it can take significantly less, or more time, depending on which suburb you are looking to buy a property in.

In Ipswich and Jimboomba, it takes about six years to save for a deposit, while in Bribie Island and Sunnybank, it is likely to take more than a decade to come up with enough money to buy a home.

Where it’s cheaper to buy than rent in Queensland 3

Ms Gibson said the older, more established suburbs were usually the hardest to buy into in most capital cities, but the report showed areas by the water were the most sought-after.

“If it’s a nice area to retire to or a nice place to have a beach house, we’ve found housing values have been driven more by people buying from outside the area than local residents,” she said.

In Noosa, the report estimates it could take 13 years to save for a 20 per cent deposit for a home, while in Burleigh Heads and Southport, would-be buyers are looking at needing to save for at least 10 years.

Ms Gibson said the report was designed to help potential buyers find opportunities to get into the market at a price point they could afford.

Where it’s cheaper to buy than rent in Queensland 4

Homeowner and mother-of-two Rachael Tickner said she and her husband, Brent, had considered upgrading to another home, but would need to save for a few more years to get into the suburb they would like to live in.

They currently own a four-bedroom house in Nudgee.

“In my heart I definitely want to live somewhere else … it would be lovely to be more inner city,” Mrs Tickner said.

“I’d love to live in Ascot, but we’re looking at a good 10 years of saving and going without before we can afford that!”

But she said they would be more open to buying an investment property in a less desirable suburb.

“We’d be open to researching the areas that do have a lot of growth and good return and wouldn’t rule out any suburbs,” she said.

It comes in the wake of the first cut to interest rates in almost three years, with the Reserve Bank of Australia slashing the official cash rate to 1.25 per cent this week.

WHERE IT’S CHEAPER TO BUY THAN RENT

Suburb % of income needed to service mortgage % of income needed to rent

Beenleigh 29.9% 31%

Biloela 10.3% 19.1%

Bowen Basin – North 11.2% 19.4%

Browns Plains 26.3% 26.3%

Bundaberg 27.6% 30.8%

Burnett 21.2% 28.8%

Caboolture Hinterland 31.4% 31.5%

Cairns – North 27.4% 28.5%

Cairns – South 26% 30.2%

Central Highlands 12.9% 18.9%

Charters Towers 17.2% 23.6%

Darling Downs – East 18.5% 22.5%

Darling Downs – West 13.6% 20%

Far North 25.2% 29.7%

Gladstone 17.9% 18%

Granite Belt 24.5% 26.8%

Innisfail 19.8% 27.7%

Ipswich Hinterland 26.5% 27.8%

Mackay 23.9% 28.5%

Maryborough 28.1% 33.2%

Outback – North 11.6% 19.7%

Outback – South 8.2% 18.6%

Port Douglas 25% 27.6%

Rockhampton 21.8% 25.4%

Surfers Paradise 34.1% 40%

Springwood-Kingston 25% 28.1%

Tablelands (East) 28.9% 32.6%

Townsville 21% 24%

Whitsunday 29.6% 31.2%

YEARS NEEDED TO SAVE A DEPOSIT

Suburb Years to save a 20% deposit

Noosa 13.1

Bribie Island 10.8

Sunnybank 10.7

Cleveland-Stradbroke 9.1

Brisbane inner 7.3

Browns Plains 6.5

Ipswich inner 6.1

Springfield-Redbank 5.8

Townsville 5.2

Biloela 2.5

Source: brisbaneinvestor.com.au

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Revealed: These are the hottest suburbs in Brisbane for 2019

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Revealed These are the hottest suburbs in Brisbane for 2019
Revealed These are the hottest suburbs in Brisbane for 2019

THE hottest suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

THE hottest suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

THE hottest growth suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

Terry Ryder of Hotspotting has released his latest Price Predictor Index, which tracks rising sales in suburbs across the country and identifies the places likely to deliver strong price growth in the near future.

The index found 33 suburbs in Brisbane were “rising steadily”, with the strongest market being the affordable Moreton Bay region.

Revealed These are the hottest suburbs in Brisbane

“The Brisbane market is showing signs of uplift, with more growth suburbs emerging in the latest survey,” Mr Ryder said.

In fact, Moreton Bay is the second strongest growth market in the country — eclipsed only by Port Adelaide — with 10 suburbs classified as “rising steadily”.

These include Clontarf and Woody Point, which have seen increases in sales activity.

Mr Ryder said the suburbs’ drawcards included affordable prices, new rail links, a soon to completed new university campus and a bayside lifestyle.

Revealed These are the hottest suburbs in Brisbane 2019

The second highest ranked market after Moreton Bay is Brisbane south, which has eight rising markets — many surprise contenders as they have beaten bluechips to take out the top spots where prices are expected to outperform.

Those suburbs are Mt Gravatt East, Corinda, Forest Lake, Mansfield, Oxley, Parkinson and Sunnybank Hills.

Most of these fit into Brisbane’s “middle market”, with median house prices in the range from $650,000 to $800,000.

Revealed These are the hottest suburbs

The number of growth suburbs in Brisbane’s north have risen from four to seven in the latest survey, with rising demand occurring in Alderley, Bald Hills, Brighton, Geebung, Gordon Park, Newmarket and Stafford Heights.

Across the state, Clinton in the Gladstone region is the top growth suburb in Queensland, while Emerald in central Queensland, Kearneys Spring in Toowoomba, Little Mountain on the Sunshine Coast and Torquay in Hervey Bay also make the list.

Brisbane’s south, Mackay and Moreton Bay are among the national top 10 regions with the highest number of growth suburbs.

Revealed These are the hottest suburbs in Brisbane for the year 2019

But when it comes to consistent sales growth, one Queensland suburb has taken out the top spot in the country — Mountain Creek on the Sunshine Coast.

The suburb, with a median home price of $635,000, has sold between 90 and 110 homes in each quarter over the past four years.

Its median house price has increased 10.5 per cent in just the past 12 months.

“Most property buyers are seeking growth and in the search for rising prices there’s a tendency to undervalue the consistent markets,” Mr Ryder said.

“These places represent safety for buyers because markets like this are likely to maintain

steady price levels — but these markets also deliver good growth.”

Revealed These are the hottest suburbs in Brisbane in the year 2019

BRISBANE’S HOTTEST GROWTH SUBURBS FOR 2019:

Alderley

Alexandra Hills

Bald Hills

Banksia Beach

Beachmere

Bray Park

Brighton

Burpengary

Carina

Clontarf

Corinda

Eagleby

Forest Lake

Geebung

Gordon Park

Heritage Park

Joyner

Kenmore

Loganholme

Mansfield

Mt Gravatt East

Newmarket

Oxley

Parkinson

Redcliffe

Rothwell

Salisbury

Stafford Heights

Strathpine

Sunnybank Hills

Woody Point

Wynnum West

(Source: The Price Predictor Index)

Originally published as Brisbane’s hottest suburbs revealed

Source: brisbaneinvestor.com.au

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Queensland Attracts UK Property Seekers

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Queensland Attracts UK Property Seekers

Research by realestate.com.au showed that searches for property in Queensland climbed by nearly a third in December compared to the same period in the previous year. This was driven largely by British people who are flocking to one of the most populous states in the country, according to a report by news.com.au.

The study found that property searches originating from the UK increased 31%, with the Sunshine Coast suburbs of Noosa Heads, Buderim and Mooloolaba as popular picks among potential buyers.

New Farm, Redcliffe and North Lakes, meanwhile, topped the list of the most in-demand suburbs in Brisbane.

Nerida Conisbee, Realestate.com.au chief economist, said Queensland, specifically its beachside properties, held the top spot in terms of total search activity among UK property seekers.

“The Hemsworth impact seems to be impacting the view of Byron Bay with this the most searched by UK property seekers in December 2018 — the number tripling from December 2017,” she said.

Universal Buyers Agents Director Darren Piper said that the chaos surrounding Brexit in Britain was enticing overseas buyers to explore the Australian property market.

“House prices in London have fallen for the fifth quarter in a row. It’s natural for investors to look for safe havens in times of uncertainty,” he said.

Australia’s property market has consistently grown over the past decade, with homes in Sydney, Brisbane and Melbourne reaching record prices.

“It’s the perfect time for people to get their foot in the door and it’s a great time as a homeowner to explore your options, maybe make a move or stay the course,” said Piper.

 

Source: brisbaneinvestor.com.au

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