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Popular Sunshine Coast Suburb

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

The property market is looking the best in five years, as properties are being bought in a matter of days.

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

New figures have revealed a buying frenzy in Stafford Heights, the north Brisbane suburb topping the list for where more buyers are looking per sales listing than any other area in the state.

The top 10 – also including Holland Park and Spring Hill – have been ­singled out by website ­realestate.com.au, with Ray White Queensland chief executive Peter Camphin saying properties in a 5km radius of the City had become particularly popular in the recovering market.

“The days on the market are shortening and a lot of buyers are now realising now is the time to buy,” he said.

“The gap for what properties are listed for and sold for is narrowing – it’s moving into a seller’s market.”

Other hot suburbs in the top 10 include Wilston, Newmarket, Red Hill and Camp Hill.

Real Estate Institute of Queensland managing director Anton Kardash said demand was now surpassing supply due to low interest rates and high buyer’s confidence – commanding the best start in five years.

“We’re coming off a very low base but this movement is very positive,” he said.

CommSec economist Savanth Sebastian said consumer confidence was sitting in a relatively positive setting, feeding into retail then further into real estate market growth.

“People have been seeing a build-up of the wealth in their home and households feel a little bit more equity there and willing to go out and spend a little more,” he said.

Properties in the Grange, Mount Gravatt and Graceville round out the top 10 list, but other suburbs such as the Sunshine Coast’s Golden Beach as well as North Lakes and Indooroopilly have grown in popularity.

Southport on the Gold Coast is another rising star, thanks to recent infrastructure projects and a revitalisation of the suburb, which is billed as the Coast’s business heart.

The suburb has made the top 20 best-selling suburbs ­nationally, reaching No. 2 in Queensland for its unit sales behind Surfers Paradise, ­according to RP Data figures.

Burton & Ryan Property Agents partner Ryan Hoelzl said it was Stafford Heights’ ­affordability and proximity to shops and infrastructure like the AirportLink that made it so popular.

“The market is just crazy, it’s unbelievable,” he said, adding the Stafford Heights market had experienced its best start in at least seven years.

The median sale price in Stafford Heights is $462,500 and the latest RP Data figures show houses spent on average 51 days on market, well below the overall Brisbane average of 83.

Ray White Property and marketing specialist for Holland Park Dianne Deem said a home at 22 Contay St sold for almost $770,000 within three days.

“We can’t keep the stock levels up – they go on the market and they’re gone within the week,” she said.

Top 10 seller’s markets:

1. Stafford Heights

2. Holland Park

3. Spring Hill

4. Wilston

5. Newmarket

6. Red Hill

7. Camp Hill

8. Grange

9. Mount Gravatt

10. Graceville

A four-bedroom Indooroopilly home, which sits on 1255sq m within the coveted Golden Triangle, was put on the market on January 10 and sold within 24 hours.

With a lounge complete with a fireplace, separate formal dining area and a huge solar-heated saltwater pool, 152 Harts Rd sold for the asking price.

Property co-owner Ray De Jonk said he was extremely happy with the deal, with the home selling for $1.56 million to fit in to the expected asking price of between $1.55 million and $1.65 million.

“The remarkable thing about the sale of this property was the speed – admittedly it is a fantastic area – but I was quite amazed,” he said.

“There is a demand, I think, and a good-quality property is always going to go well … but timing is everything when you’re selling.”

McGrath Estate Agents Paddington sales agent Alex Jordan sold the property with an idea it would sell quickly.

“The buyer is in the sandstone business and plans on doing a major renovation, something which I’m sure will be very impressive,” he said.

“This is the best market I have seen for more than 10 years, with strong buyer demand for prestige property priced between $1 million and $3 million.

“Low interest rates and demand from offshore and interstate buyers is fuelling the price growth in the Brisbane real estate market.”

 

Original article published at www.news.com.au by Brittany Vonow & Teela Jurgensen, The Courier Mail 8/2/14

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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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