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Suburban Spotlight: Redcliffe




A SOUTHEAST Queensland tourist hotspot say they love having visitors, but what they really need is for people to stay long-term.

Local businesses say Redcliffe has been slow to embrace high-density living, and that is holding back growth.

Through its urban renewal plan, Moreton Bay Regional Council has approved pockets of the peninsula to be developed into eight-storey highrise unit blocks.

Council hopes those developments will attract newcomers into the area and push up the local population, which currently sits at about 9200 people.


Restaurateur Diana Dagostino, of Italian Emporium on Redcliffe Pde, said she hoped an increased population would encourage larger retail and department stores to set-up shop on the peninsula.

“We need progress. We need more upmarket shops and retailers to come through,” she said.

“We have a lot of beautiful cafes and restaurants, but we really need a lot more upmarket clothing and retail shops. That will all come if we have more people.”

Michael Herbert, who has owned the Bikini Beach Café on Redcliffe Pde for three years, said weekends are easily his busiest period, with Brisbane residents and travellers from further afield invading the suburb looking for a taste of beachside living.

“During the week you get your locals but on weekends there are so many holidaymakers, the locals tend to stay away as much as they can,” Mr Herbert said.

He said his customer demographic was also changing.

“The trend is getting younger and hence why we have redone our menu four times,” he said.

“It’s really noticeable that we are seeing a lot of young families.”

The urban renewal program has already started to take effect on the local real estate market, with almost half of the properties that changed hands in 2016 being apartments. data shows the median price for a two-bedroom unit in Redcliffe is $303,000, down by 1.6 per cent from the same period five years ago. Three bedroom units are currently selling for a median price of $495,500.

In comparison, three-bedroom houses are selling for a median price of $418,000, up a huge 26.7 per cent on the same period five years ago.

Kindred Real Estate principal Josh Kindred said Redcliffe was not only becoming a popular relocation spot for retirees and empty nesters, but also for families looking to be near the sea, with the average age of residents tipping 45 years.

He said the suburb was also popular with interstate buyers.

“Of our enquiries, 23 per cent are coming from those Sydney and Melbourne areas,” he said.

“They are people who want to invest or live up here. You’re close to the airport and you’re between (Brisbane and) the Sunshine Coast.

“What we are finding from people who are moving here from Albany Creek, Kenmore and Clayfield, is that they are still on the northside of Brisbane but they get the lifestyle.”

He said buyers looking to relocate or invest need to be mindful that there’s a great real estate divide through the heart of the suburb.

Land and house prices east of Oxley Ave are going to set you back up to 30 per cent more than those west of the arterial road, Mr Kindred said.

“Oxley Avenue has been the geographic boundary that we talk about in the region,” he said.

“In our local market place we will advertise a place east of Oxley Ave… it’s about the proximity to water. It’s easy walking distance to water.”


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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%)

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The best brand new developments in south-east Queensland



The best brand new developments in south-east Queensland
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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.

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