THE Queensland property market, particularly the southeast is tipped to finally have its moment in 2016.
While for the most part 2015 was a slow and steady year for the property market – some mining towns excluded – experts have tipped areas of the southeast as the ones to watch in 2016.
Cameron Kusher of CoreLogic RP Data said 2016 was likely to be a year of changed housing market conditions nationally.
He said there was already some evidence to suggest that value growth is picking up in southeast Queensland.
“In terms of southeast Queensland, if you focused on suburbs closer to the Brisbane River, CBD and the Gold Coast markets you’ll enjoy significant capital gain over the next few years,’’ he said.
“At the moment what we are seeing is reasonably strong value growth in the Sunshine Coast and the Gold Coast largely for houses as opposed to units and I think we will probably see that continue over the next 12 months.
“In Brisbane it tends to be the Brisbane Council area where we are seeing most of the growth, I expect again that will continue and maybe we will start to see a pick up in some of the outer more affordable housing markets largely on the back of fact that housing in the southeast corner of Queensland is so much more affordable than it is in Sydney and Melbourne.
“We might start to see some people looking to these markets especially now that we are getting some jobs growth in Queensland.’’
Century 21 Australia chairman Charles Tarbey believes Brisbane is posied for some nice steady growth in 2016.
“People in Sydney and Melbourne have gained a significant amount of equity in their properties, they are going to look to invest and they are not going to invest in Perth because it is still moving sideways, slightly downward and sideways.
“Adelaide has been stable for some time and there are certain parts of Adelaide where there was an oversupply.
“The only other place to buy because you are not going to buy an investment property too easily in a rising market like Sydney or Melbourne, is in Brisbane. Brisbane could get a little spurt because of the equity that Melbourne and Sydney property owners have gained.
“I think it is going to be a very steady market and you will find that Brisbane will get nice good quality growth.’’
LJ Hooker CEO, Grant Harrod, reckons the Gold Coast is an area to keep an eye on in 2016.
He said affordability, a falling Aussie dollar and the upcoming Commonwealth Games will make the Gold Coast the place to be for property value in 2016.
He predicts between five and ten per cent growth for the traditional tourist hub, as it takes the lead while Sydney and Melbourne flatten out.
“There is great buying in the Gold Coast and in southeast Queensland, from the border up to Brisbane,” Mr Harrod said. “The Commonwealth Games are coming up (in 2018) and there has been a lot of infrastructure investment such as the light rail and plans to increase the capacity at Coolangatta Airport.”
Mr Harrod pointed to renewed tourist interest on the back of the softening Aussie dollar as another winning factor.
“It’s a great tourist spot, not only for Asian tourists, but increasingly from people in the middle east,” he said.
Ray White Chairman Brian White also has the Gold Coast among the areas to grow in 2016.
He said Sydney’s eastern suburbs and Melbourne’s bayside suburbs would also do well.
He tipped Brisbane values to grow a very modest 2 per cent in 2016.
McGrath Real Estate CEO, John McGrath believes major growth in 2016 will come from both New South Wales regional areas and south east Queensland.
“Both have missed most of the price growth that Sydney and Melbourne enjoyed over the past few years and are therefore presenting very good value,’’ he said.
“I suspect both investors and sea changers will be eyeing off these markets.
Bray Park and Mango Hill fastest selling homes in Pine Rivers
HOMES in Bray Park and Mango Hill are among the fastest selling in the northern suburbs of Brisbane, latest data reveals.
CoreLogic data shows houses in these suburbs are on the market for an average of 48 days before being snapped up by buyers.
Other top performing suburbs in Pine Rivers include Kallangur, where homes sold in an average of 50 days, Strathpine and Petrie at 54 days and Warner with 57 days.
Strathpine’s David Deane Real Estate director and sales manager Mark Rumsey sold 55 Leone St, Bray Park, in just 19 days on the market.
The four bedroom, two bathroom home — built in 1975 on 607sq m — was very popular with buyers.
“This type of property is very popular, because it gives you flexible living options, everything is fresh and it’s not far from schools and rail,” Mr Rumsey said.
“I’ve got plenty of examples within 500m of this home that have sold just as fast.
“Strathpine, Bray Park and Petrie are the thinnest I’ve seen stocked for a long time.”
He said buyers were “quickly realising” the area was good value for money.
“There’s a huge employment base, with Brendale and North Lakes massive drivers for housing out here,” Mr Rumsey said.
“The spotlight is also on with the university and railway upgrade … and it’s only 20-25km from the CBD.
“In areas like Aspley and Bracken Ridge, the same house you’re paying an extra $50,000 to $100,000, so people see huge benefits in just coming out a few extra kilometres.
“These areas will only continue to be popular with buyers and investors.”
While in Mango Hill, Ray White North Lakes sales professional Vijay Kumar is selling 22 Limosa Court, Mango Hill.
The four bedroom, two bathroom home — built in 1998 on 825sq m — has been fully renovated and has an in-ground saltwater solar-heated pool and solar panels on the roof.
Mr Kumar said there has been steady interest in the property, on the market for $559,000.
“This property is in a cul-de-sac, which means only local traffic will go down the road, making it attractive to buyers,” he said.
“It’s also on a large block and only 10 minutes to the train station,” he said.
He agreed homes in the area were on the market for about 48 days.
“In my experience, homes generally sell between 40 and 50 days in Mango Hill,” Mr Kumar said.
“This area is only going to continue to grow in popularity, especially once the train station opens. Plus it’s close to North Lakes, which makes it attractive to buyers.”
Topping the CoreLogic list across greater Brisbane was Algester, where homes sold in an average of 23 days during the 12 months ending June, 2016.
Across the Brisbane City Council area, three other suburbs scored selling times under a month — Chermside West at 24 days, Wishart on 29 and Keperra at 30.
Moreton Bay’s best suburb was Ferny Hills at 35 days, while Logan’s best proving to be Hillcrest at 36.
Capalaba was the highest ranking suburb in Redland City, averaging 42 days on the market, while Ebbw Vale’s 49 days was the best result in Ipswich.
All of Brisbane’s top 10 suburbs had an average of 37 days or less on the market before securing a sale.
TOP 10 IN REGION
1. Ferny Hills
2. Everton Hills
3. Albany Creek
4. Arana Hills
5. Bray Park, Mango Hill
7. Strathpine, Petrie
8. Rothwell, Margate
9. Warner, Redcliffe
*CoreLogic fastest selling suburbs in the Moreton Bay Region
Original article published at www.couriermail.com.au by Amelia Broadstock 18/7/16
Mango Hill’s $10m terrace house collection
The Capestone masterplanned community in Mango Hill will receive a $10 million terrace home collection by Vantage Buiding Group.
The Fusion project will include 24 freehold title, two-storey terraces surrounded by wide streetscapes and located close to a future 13ha lake.
Vantage partner Ashley Nankervis said there had already been strong interest in the homes which start at $429,600.
“The Fusion range of housing provides architecturally designed, three-bedroom, two-bathroom homes that are well positioned and priced in the market,” he said.
“The newly opened Mango Hill railway station is a short walk away and offers residents who work in the Brisbane CBD an easy, 40-minute commute.
“The estate is also only a few minutes drive to the myriad of retail and entertainment options of Westfield’s newest shopping centre at North Lakes as well as IKEA and Costco.”
Mr Nankervis said Fusion was close to North Lakes Business Centre and the growing industrial precincts at North Lakes, Brendale and Strathpine.
“There is strong employment growth forecast in Mango Hill across retail, commercial, industrial and health sectors,” he said.
“More than 26,000 new jobs have been forecast given the proximity to hospitals, associated health facilities as well as the range of local shopping and retail amenities.”
State and private schools are close to the project and St Benedict’s Catholic College is within walking distance.
There is also easy access to Capestone Boulevard and the surrounding facilities.
Construction on the project is expected to start this month.
Original article published at www.couriermail.com.au by Paula Shearer, News Corp Australia Limited, 9.6.16
Locals snap up first three stages of SoLa North Lakes as developers prepare for construction of next phase
THE first three stages of SoLa North Lakes, comprising 59 of 120 townhouses, have sold out with the fourth phase now being promoted.
This stage includes two new floorplans priced from $405,000 with construction expected to begin in the next few months.
Stockland regional manager David Laner said he expected the Stockland-Metricon joint masterplanned community would be fully completed and sold out by Easter next year.
“There have been slightly more owner-occupiers than investors as the townhouses are pretty large,” he said.
“Forty per cent are two-bedrooms and 60 per cent are three-bedrooms.
“Most of the townhouses are also two storey with park and lake views, and we wanted to go with really good quality finishes.”
Mr Laner said 75 per cent of all buyers were from within 10km of North Lakes, which signalled how well people knew their local areas.
“The Moreton Bay Rail Link will offer great opportunities for astute investors and I expect there will be a ripple impact on surrounding areas, like the undervalued Redcliffe peninsula, following the rail link’s opening,” he said.
“But there are now less than 40 vacant home sites left at North Lakes, out of a total of more than 5000 in the masterplan.
“So I’m seeing a little bit of urgency creep in from buyers.”
Arana Hills residents’ Stephen and Jill O’Rourke have purchased a three-bedroom townhouse at SoLa and plan to move there in June.
The couple knew it was time to leave their home after their children moved out but after living in one house for 19 years, it was difficult for them to decide where to go.
“We looked at over 55s living but we weren’t interested in that and then we looked at high rises, but we weren’t really keen about that either,” Mr O’Rourke said.
“Then when we were up at North Lakes, we looked at the floorplans for SoLa.
“We liked that it was opposite the lake, two blocks from Westfield and walking distance to amenities.
“The new station at Mango Hills is also coming soon.
“So instead of a tree or sea change, we chose a closer to amenity change.”
Originally Published On: http://www.couriermail.com.au/
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