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What do today’s home buyers want?



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

What features today’s buyers want depend in part on the home’s price, size and geographic locale as well as who the buyer is; owner-occupier, investor, or developer.

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

Some features are more beneficial than others for example, you might be looking for a house in the Moreton region. Depending on those categories, and for every feature that appeals to one buyer, there will be another purchaser who wants the exact opposite

Land size: Owner-occupiers generally look for a relatively large block of land, especially if they are considering having a family. However, tenants hate it. A large block of land means more time that they have to spend maintaining the property. They don’t want to spend their weekends mowing the landlords’ lawn and watering her flowers. Investors generally don’t want properties on large blocks due to the maintenance and upkeep issues. However, developers are very interested in the size and dimension of the block.

Size of house: Many tenants prefer larger homes and they are willing to pay more rent for it, where they won’t pay more rent for a larger block of land. Owner occupiers try and buy as large a home as their finances will permit. Investors aren’t interested in large homes with five and six bedrooms as these can be very hard to rent. For developers, they’d prefer that there wasn’t a home on the site as they just want the land.

Period/character style: Owner-occupiers can fall in love with old style houses and pay a premium for them, especially if they are updated. It may seem remarkable that some people will pay more for a 140 year old house than a 40 year old house. Many tenants don’t like old houses; they prefer brand new properties. Generally the condition of these properties is great and they have all the modern conveniences that people are looking for such as air conditioning, dish washer and two bathrooms. Commonly investors will also shy away from old properties due to the maintenance issues such as salt damp and cracking. Developers often aren’t interested in period style homes for two main reasons. Firstly, they are regularly outbid by the owner-occupier who has fallen in love with the stone front, solid timber floors, fireplaces, high and ornate ceilings. Secondly, there is the risk that these properties might be heritage listed which restricts the development opportunities.

Views: Owner-occupiers love views, especially sea views. Tenants like them but won’t necessarily pay extra rent for a view. Short-term/holiday renters are willing pay a huge premium for sea views. Some developers will also pay a premium for views, especially if they are views of water or the CBD. Investors aren’t fussed by properties which have views as they realise they will have to pay more for a property with a view but tenants won’t necessarily pay any extra rent.

Peter Koulizos, property lecturer and author –


Original article published in by Peter Koulizos  19/11/2013

Market Place

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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