PLENTY has changed in Brisbane real estate since named cows were included chattel, stamp duty required an actual stamp and agents doubled as inspection chauffeurs but Matthews Real Estate was there for it all.
The Annerley family business is celebrating its 80th year in the industry and co-principal Trevor Matthews, who runs it with his brother Ken, said Brisbane had changed dramatically since he first took the helm 51 years ago.
“There was an old saying that City Hall was the tallest (building). It was, there was basically nothing else around it,” he said.
He said highset timber houses had been replaced over time with units or lowest brick houses and the property features attracting buyers had changed too.
“In the old days, if it had sewage it was a winner,” Mr Matthews said.
“(As were) double-bowled stainless steel sinks. There used to only be one sink and it wasn’t even stainless steel.”
In the 1930s, when Trevor and Ken’s grandfather Robert and father Leslie ran the business, Brisbane had farming land.
One old document in the archives is a contract including Daisy, Buttercups, Spider and 24 other named and unnamed cows in the sale of McGrath Farm, Tennyson.
Another is a form stipulating “when sheep are included, date of last shearing must be given”.
More urban-related clippings show a Coorparoo house that last sold in 1998 for $320,000 had fetched Pound730 ($1460) at auction in 1941. Tenants in 1962 could have lived in a five-bedroom Norman Park rental property for just Pound10 ($20) a week.
The average asking rent for a house at Norman Park is now $463 a week, according to RP Data’s suburb scorecard for the year to May.
Mr Matthews’ son Russell, who is one of four fourth-generation Matthews at the office and the likely next principal, said the way agents did business had changed, even in the last 20 years.
“When I first started selling (in 1997), people came into the office and we drove them around to all the places. Now, with the internet, they look at it on the net, they see the address, they drive past themselves and they meet you there,” he said.
“We got into realestate.com.au in about 2004 and the idea of someone coming in now and me driving them is almost non-existent.”
But, despite the changes to Brisbane, inner-city housing and the property industry, Matthews Real Estate’s 80-year reputation has endured.
Three decades after his grandmother’s house in Juster St, Annerley, was sold through Matthews, long-time Moorooka resident John Royce sold his Hansen St house through them.
“They’re just one of those places, they’re very friendly and helpful and they put it down the line how much things are worth,” Mr Royce said.
“I don’t know whether I was influenced (by Matthews being a family business) but they seem to have a click.”
Mr Royce has lived at Moorooka on and off for half a century and echoed the Matthews’ sentiment of the city’s changing face.
“It’s changed big time. We used to have lots of small catering places, such as fruit and vegetable stores. Woolworths was never here as a kid,” he said.
“Everybody who had a deceased estate in my day would have a family move in. Now they just knock them down and put townhouses on them.”
He said affordability in the area had also been less of an issue in the past.
“You had your high-income earners that had nicer places but affordability was good for the average person. Now it seems astronomical.”
But Trevor Matthews said it was still easier to buy now than 50 years ago, with more finance avenues available. He said now was a good time to buy.
“I would see in the next four to five years there will be an increase in value but I don’t think it will be anything like what we saw in the 2000s,” he said.
“All of the suburbs about 8km out (from the CBD) are going to continue to grow and grow and grow,” Mr Matthews said.
Original article published at www.news.com.au by Melanie Burgess, Real Estate Reporter, The Courier Mail 31/8/2013
Where you can still invest by the water in QLD for less than $700k
IT’S unheard of in Sydney and a distant memory in Melbourne, but for under $700,000, it’s still possible to buy a house by the water near Brisbane.
In the sleepy beachside suburb of Margate, a four-bedroom house only a block back from the beach is up for grabs for offers over $599,000.
Down the road in nearby Scarborough, another four bedder just 200m from the water is available for $595,000 — little more than the cost of a Sydney car park.
Even in the popular family holiday spot that is Coolum Beach, a cute three-bedroom pad is going for $695,000.
New data provided exclusively to The Courier-Mail by RiskWise Property Research has identified the 10 best suburbs by the water in southeast Queensland to invest in.
Woody Point, 25km north of Brisbane in the Moreton Bay region, is the top pick, with a median house price of $490,000, followed by the neighbouring suburbs of Margate and Scarborough.
The coastal suburbs of Thorneside, Birkdale and Wellington Point, about 20km southeast of Brisbane, are also ripe for investment, according to RiskWise.
And what better time to scope these areas out for holiday homes than during school holidays.
RiskWise chief executive Doron Peleg said the suburbs were ranked based on affordability, proximity to water and distance from working hubs.
“Deception Bay is a great example because the prices there are significantly cheaper than what you see in alternative suburbs,” Mr Peleg said.
“Overall, anything that starts with a four or is below $500,000, when you get proximity to water at that price tag, it is extremely affordable.”
Mr Peleg said Coolum Beach was another good example because it was possible to work in Brisbane and commute.
“It’s also not far from Noosa, but a fraction of the price of Noosa Heads,” he said.
Mr Peleg’s only advice to investors looking in these suburbs was to think long term.
“The only thing you need to do is to buy and hold because of the nature of the real estate market and transaction costs in Queensland,” he said.
“Regardless of these specific areas, southeast Queensland currently represents outstanding value.”
James and Jasmine Campbell are selling their three-bedroom house at 1 Westbrook St, Woody Point, for just $485,000.
They bought the house almost six years ago as their first home and it has achieved solid capital growth in that time.
Mr Campbell said they loved being just 500m from the water and being able to stroll along the boardwalk of an afternoon with their two-year-old daughter, Pippa.
“The house is close enough that you still get that smell of the ocean,” he said.
Selling agent Brendan Philp of Abode Properties said Woody Point and Margate were becoming popular with owner-occupiers, either families, retirees or interstate buyers relocating from Sydney and Melbourne.
Mr Philp said the area’s sandy beaches and affordability — with the average house selling for around $500,000 — made it one of a kind.
“Geographically, you are 25 minutes to the airport, 30 minutes to Brisbane CBD, an hour to the Sunshine Coast — you can’t find another suburb for that sort of money,” he said.
“In Wynnum or Manly, you’re paying at least a third more.”
TOP 10 EMERGING WATERSIDE SUBURBS
Suburb Property type Region Median sale price
1. Woody Point House Moreton Bay $490,002
2. Margate House Moreton Bay $453,820
3. Scarborough House Moreton Bay $550,719
4. Thorneside House Brisbane – East $523,177
5. Birkdale House Brisbane – East $541,048
6. Wellington Point House Brisbane – East $589,185
7. Wynnum House Brisbane – East $639,622
8. Lota House Brisbane – East $635,082
9. Deception Bay House Moreton Bay $352,245
10. Coolum Beach House Sunshine Coast $637,984
(Source: RiskWise Property Research, CoreLogic)
Interstate migrants are moving to QLD … but they’re not coming to Brisbane
Less than 5 per cent of interstate migrants during the 2016-2017 financial year settled in Brisbane, according to data from the ABS. Photo: Glenn Hunt
Interstate migration to Queensland is booming but analysis shows most new residents are bypassing Brisbane for other regions in the Sunshine State.
Buyers’ agency Propertyology analysed ABS data, which showed there were 17,246 internal migrations to Queensland in 2016-17. But out of those, only 846 relocated to Brisbane, which equates to less than 5 per cent.
Propertyology managing director Simon Pressley said the lion’s share went to the Gold Coast, Sunshine Coast, Moreton Bay, Cairns, Ipswich and the Scenic Rim.
“We’ve read a lot about interstate migration to Queensland lately and it’s been growing each year, which is great,” he said.
“The thing is, people automatically think Queensland means Brisbane but when you actually look closely at the numbers, they tell a very different story.”
As a proportion of total population growth over 2016-17, the biggest beneficiaries of interstate migration were Tasmania (22.5 per cent) and Queensland (21.9 per cent).
House prices in the regions with the most internal migrations have mainly increased — house prices on the Sunshine and Gold Coasts have increased by 7.9 per cent and 3.3 per cent respectively over the past 12 months — although Mr Pressley said the correlation between population growth and house price growth was often overstated.
“I know logically it makes sense — if an area has a big surge in population, house prices should go up — but there’s much more to it than that,” he said.
“Jobs growth is a lot more important than population growth, so is wage growth, [and] affordability is also extremely important.”
REIQ Gold Coast zone chair Andrew Henderson said each of those factors was connected and all had contributed to the Gold Coast’s house price success in recent years.
“Our local economy is strong but it’s also changed. We’re no longer solely reliant on the tourism industry. The diversity of our job offering has changed,” he said.
“With new infrastructure like universities and hospitals, we’ve got people moving here from interstate into jobs who would have never been able to move here 10, 20 years ago.
“So the age of the people we’ve got moving here has also changed. We’ve always had a lot of retirees but we’ve noticed a surge in people in their 20s, 30s and 40s – people moving their whole families up here. Around Mermaid Waters and Clear Island Waters there’s a really strong southern presence.”
Andrew Campbell of Ray White Redcliffe said the influx of interstate migrants buying up locally in the Moreton Bay region had become apparent more recently.
“We noticed a dip in the interstaters for a while but recently they’ve started to come back and it’s about affordability. All the properties around that median price are really moving so quickly,” he said.
Domain Group figures show the median house price in Moreton Bay is $456,000.
“There’s a lot of first-home buyers who fly up here for the weekend from Sydney. They know they can’t afford to buy there so they’re moving here because they see you can buy a house for under $500,000, get the lifestyle and still only have to drive 40 minutes to work in Brisbane,” Mr Campbell said.
But Mr Pressley said interstate migrants were being “pushed” to Queensland, rather “pulled” as they were during the mining boom.
“People have always wanted to come to Queensland because of the good lifestyle, weather and affordable housing,” he said.
“In the past they came for those things but also because we created more jobs year after year than everyone else. Now, we’re not dragging here through job growth, they’re coming here by default.
“To me, that’s why interstate migration hasn’t translated into property prices yet … and that’s why only minimal people have gone to Brisbane.
“I anticipate that in the next 12 months we’re going to see another really strong year of interstate migration into Queensland; if our economy improves, then it could translate to property prices for Brisbane and all over Queensland. Overall though, this is a good news story for Queensland and Brisbane as well. It’s looking positive.”
Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs
Andrew Galloway is selling his investment property in Loganlea, which has been identified as one of Queensland’s most affordable growth suburbs. Image: AAP/John Gass.Source:News Limited
THESE are the best performing cheapie suburbs in Queensland. Find out which areas buyers on a budget should be targeting.
QUEENSLAND’S best growth suburbs for buyers on a budget are in lifestyle locations and affordable hot spots in Brisbane’s backyard, a new report has revealed.
For an investment property under $500,000 and with good capital growth prospects, look no further than Palm Beach on the Gold Coast, Noosaville on the Sunshine Coast and Loganlea, south of Brisbane, where values have increased by up to 20 per cent in 12 months.
The Top Affordable Suburbs Report, released by researcher CoreLogic, identifies suburbs where property values are below half a million dollars and have shown strong capital growth.
These suburbs are good targets for entry-level buyers, offering affordable real estate, improving infrastructure and strong track records that suggest ongoing strength.
Palm Beach holds the number one spot as the most affordable for capital growth in the state, according to the report.
Unit values in the beachside enclave have jumped 20.2 per cent in the past 12 months and more than 52 per cent in five years to a $471,758 median.
But you can still snap up a two-bedroom apartment a few streets back from the beach there for $379,000.
After Palm Beach, the second most affordable growth suburb in the state is Noosaville on the Sunshine Coast, where unit values have gained more than 14 per cent in the past year to reach $486,468.
Alexandra Headland is also in the top 10 list compiled by CoreLogic, with units in the beachside suburb increasing in value by more than 12 per cent in a year.
But you can still get a two-bedroom unit with ocean views in the suburb for $429,000.
GOLD MINE FOUND IN BRISBANE BACKYARD
CoreLogic senior research analyst Cameron Kusher said first home buyers were still active in Queensland and the more affordable end of the market was not facing the same pressures as the more expensive suburbs, which explained why suburbs like Loganlea, Ripley and Jimboomba were performing well.
“We are finding the lower end of the housing market is the higher value stock — even in Brisbane,” he said.
“We might not see the same gains over the next 12 months or three years, but there’s still going to be demand in these affordable markets.”
The latest CoreLogic home value figures reveal a strengthening of affordable and lifestyle locations, particularly on the Sunshine Coast, which recorded a 5.5 per cent increase in home values in the past financial year.
HOME FIT FOR HARRY AND MEGHAN
Mr Kusher said the Gold Coast housing market was starting to cool off, but demand was still strong for the Sunshine Coast.
“These people from Sydney and Melbourne who want to buy a holiday property are looking at these areas and seeing pretty good value,” Mr Kusher said.
“I think that’s where the buyers are coming from.”
In Loganlea, about 25km south of Brisbane, house values have increased more than 14 per cent in the past year to a still very affordable $391,469.
Andrew Galloway is selling his investment property, which is on the market for just $339,000.
The four-bedroom, two-bathroom brick house at 10 Starling St, Loganlea, has been returning about $345 a week in rent.
Mr Galloway said the property had recorded solid capital growth in the past 11 years he had owned it and he had decided to take advantage of that.
“I think it’s achieved the capital gain it’s going to achieve in the time frame I’m going to have it,” he said.
Mr Galloway said he had noticed gentrification in and around the street in the past decade, which had made it more appealing.
Selling agent Pamela Anemaat of Raine & Horne Beenleigh said there had been an increase in large blocks in the suburb being subdivided by developers offering house and land packages, which had helped generate interest, particularly from first home buyers.
Mrs Anemaat said Loganlea was also popular suburb for investors because it was a high rental area and still so affordable.
“It is a feast for southern buyers, and they are moving up here and purchasing up here because they just can’t afford to buy a new home down there,” she said.
QLD’S 10 BEST PERFORMING AFFORDABLE SUBURBS
Suburb Property type Median value Value change Value change
12 mths 5 yrs
1. Palm Beach Units $471,758 20.2% 52.2%
2. Noosaville Units $486,468 14.4% 36.9%
3. Loganlea Houses $391,469 14.3% 43.8%
4. Mudgeeraba Units $399,637 13% 37.8%
5. Alexandra Headland Units $397,297 12% 36.6%
6. Ningi Houses $458,469 9.2% 11%
7. Jimboomba Houses $494,933 9.1% 22.1%
8. Ripley Houses $391,736 8.7% 23.9%
9. Elanora Units $372,760 8.6% 29.7%
10. Narangba Houses $493,418 8.3% 26.9%
(Source: CoreLogic, based on data to March 2018)
Property Management3 years ago
7 Common GST Mistakes On Property
Infrastructure7 months ago
Decision on horizon for key marina section of huge North Harbour development at Burpengary
Education6 months ago
MP vows Petrie university campus will be a reality despite claims saying otherwise
Infrastructure6 months ago
How train lines are driving property prices
Market Place6 months ago
Queensland’s property flipping hotspots rise as profits roll in
Education6 months ago
Mayor calls funding freeze a ‘stake in heart’ of regional university plan
Market Place6 months ago
These are the suburbs with more sales than any other
Market Place7 months ago
CoreLogic figures reveal Moreton Bay region’s hottest real estate suburbs