An investment lending squeeze hasn’t put investors off Brisbane property

first_imgBrisbane is considered a good location for property investment.PROPERTY investors are most keen to putting their money in the Brisbane market.New research which surveyed property industry professionals found that 44 per cent thought Brisbane had the best investment prospects this year.PIPA chair Ben Kingsley said there were a couple of reasons that Brisbane was considered a good place to invest.“The first one is that we know that the income to value ratio is substantially lower in Brisbane and southeast Queensland than what it is in both the Sydney and Melbourne market at the moment. RBA blames high property prices on states and councils “Your dollar is going to buy you more, you are going to get more bang for your buck.’’More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor8 hours agoMr Kingsley said that coupled with the good yields that were being achieved in Brisbane compared with Sydney and Melbourne made it an appealing prospect.“It is going to steer investors up into that area,’’ he said.He said historically Brisbane and southeast Queensland “arrived to the party a little later’’ than other capital cities, so as things were slowing down in other capitals they weren’t necessarily in Brisbane.He said Brisbane was also considered a good lifestyle area to live, with affordable properties and shorter commutes.The survey found despite uncertainties such as tightening of lending policies, taxation changes and potential interest rate increases, the industry was optimistic about how the market would perform this year.Mr Kingsley said it was encouraging to see property professionals so confidentabout the outlook for their businesses and the sector more broadly.He said the biggest concern for the industry at the moment was the tightening of investor lending followed by rising interest rates.last_img read more

New hospital on the Sunshine Coast is boosting the housing market

first_imgSunshine Coast land values and house and land packages experiencing boom driven by new Sunshine Coast University Hospital.SUNSHINE Coast vacant land values are set to continue their upward trend with house and land packages the standout performer, as the positive impact of the new University Hospital takes affect. Ray White Land Marketing director Jamie Martin said in the 12 months to June, 2016, the median price paid for land reached a new high of $567sq m, while house and land packages had shown three consecutive years of volume increases.Mr Martin said in the “Between the Lines — Sunshine Coast Vacant Land Report February 2017” that median land values had grown 4.02 per cent to $259,000 over the last year.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor8 hours ago“House and land package sales have been the stand out performer for this region, increasing their volume of sales each year for the last three years,” Mr Martin said.“There were 268 sales recorded in the year to June 2016, ahead of the 2015 and 2014 results of 253 and 185 respectively. “This number of sales is the highest recorded since 2008, highlighting the attractiveness of these packages resulting in a 6.45 per cent increase in value in the last year to $495,000.”Ray White Commercial head of research Vanessa Radar said the Sunshine Coast market was benefiting from strong investment into infrastructure projects, which is expected to continue with the opening of the Sunshine Coast University Hospital“Support businesses have been looking to position themselves around these projects and the increased population growth has confirmed the boost in employment demand across the region,” Ms Radar said.“This has been further emphasised by the improved result across the Sunshine Coast office market which, according to the Property Council, has seen vacancies fall from 14.1 per cent back in 2013 to the low of just 6.9 per cent in January, 2017.”last_img read more

This week’s top five Gold Coast sales surge past $14 million

first_img20 Norseman Court, Paradise Waters sold for $2.2 million. 171 Monaco St, Broadbeach Waters sold for $4.6 million in the biggest sale on the Coast this week.THE top five property sales on the Gold Coast this week all fetched more than $2 million each.CoreLogic data reveals a luxury mansion in Broadbeach Waters was the highest sale on the Coast after it sold for $4.6 million.The triple block at 171 Monaco St has 90m water frontage.Bali huts, palm trees, wat­erfalls and a tropical garden give the resort-style look, while the expansive water frontage offers a view of the Surfers Paradise skyline. 171 Monaco St, Broadbeach Waters was the biggest sale on the Gold Coast this week.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoAmong its luxuries are floor-to-ceiling windows, orn­ate ceiling details and marble and granite floors. Isaac and Maria Genc of Genc & Co Bundall negotiated the sale.Two Sovereign Islands mansions came in second and third spots while a skyhome in Coolangatta rounded out the top four. 902/192 Marine Parade, Coolangatta sold for $2.38 million.The Coolangatta apartment at 902/192 Marine Pde changed hands for $2.38 million through Armstrong Real Estate principal John Rankin.A Paradise Waters mansion at 20 Norseman Court, Surfers Paradise came in fifth spot with a sale price of $2.2 million.Joseph Douglas realty agents Elie Fakhri and Paula Fakhri negotiated the sale. 17 King James Court, Sovereign Islands sold for $2.4 million.Professionals Vertullo Real Estate agents negotiated the sales of the Sovereign properties at 18 Brittanic Cres ($2.8 million) and 17 King James Court (2.4 million).The Brittanic Cres property is now on the rental market for $1800 per week.last_img read more

Family seals deal after bidding battle at auction

first_imgThe home at 25 Bride St, Wynnum.STRONG bidding ensured the sale of a renovated character home in Wynnum on the weekend. The five-bedroom home at 25 Bride St sold for $915,000 under the hammer. Marketing agent David Lazarus, of Belle Property Manly, said three bidders registered for the auction and two actively vied for the property. “We had an opening bid of $800,000 and strong bidding to $900,000,” he said. “We stopped there and negotiated a little bit more. We put it on the market at $915,000 and that’s where it stayed.”More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020The kitchen at 25 Bride St, Wynnum.Mr Lazarus said about 40 groups inspected the home during the marketing campaign and 30 people gathered to watch the property sell on auction day. He said the successful buyers were a local family. “The new owners are upgrading from Wynnum West and the sellers have bought a place on the Esplanade,” he said. “They were all very happy with the result.”Mr Lazarus said the Wynnum property market was bubbling along nicely.“I reckon clearance rates are sitting at about 80 per cent for the year,” he said.last_img read more

Warner home set up for family living

first_imgThe home at 35 Sonata Drive, Warner.“It’s quite a low-maintenance yard, which is a good thing as I’m no green thumb.“It’s also a great home for entertaining. It’s got a nice big patio with fan. We’ve had many get-togethers out there.” The home has an open-plan living, dining and kitchen area that opens through sliding doors to the covered patio. The kitchen has timber look benchtops, wall oven, gas cooking, dishwasher and pantry.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019There is also a rumpus area off the living area, and a separate lounge room. The kitchen at 35 Sonata Drive, Warner.The master bedroom has a walk-in robe and an ensuite with double-sized shower. The three remaining bedrooms have built-in robes and the family bathroom has a separate bath and shower. There is also a study and a laundry with external access. The home has LED lighting, fans, security screens and high ceilings throughout. The home at 35 Sonata Drive, Warner.There is also a double lockup garage with internal access at the front of the home. Outside there are established, low-maintenance gardens and an automatic irrigation system for the lawns on the fully fenced, 674sq m block. Mr White said the home was in a quiet, friendly neighbourhood. “Everyone gets along on the street and we all look out for each other,” he said. The property is being marketed by Kerry Marks, of Harcourts North Lakes, for $569,000.center_img The home at 35 Sonata Drive, Warner.THIS spacious lowset home on a big block is on the market in Warner.The property at 35 Sonata Drive is well set up for family living with four bedrooms, multiple living areas and a big entertainment space.Michael White has owned the property for about seven years and said it was a great home for his family of four. “I love the size of the house and the yard,” he said. last_img read more

Former state minister shells out near record price for stunning Brisbane renovation

first_imgLooking across the kitchen to the open plan after all the hard work has been done.The home also has a rooftop terrace affording panoramic views through to the Brisbane City skyline. Former LNP representative, Saxon Rice, has been revealed as the multimillion-dollar buyer of Graya constructions latest project. Photo: Nathan RichterFORMER State politician, Saxon Rice, has been revealed as the latest buyer in a growing list of personalities to have purchased a Graya Constructions project.The past state member for Mount Coot-tha paid $2.22 million to snap up the stunning transformation of 8 McNab St, Paddington. The contemporary finishes were perfectly pitched for the high-end market.Ms Saxon joins a growing list of high-profile Graya clients which have included Channel 9’s Alison Ariotti, Brisbane Broncos captain Darius Boyd and wife Kayla, as well as Queensland Reds Player, Quade Cooper and his model girlfriend Laura Dundovic.Mr Graya said secret behind McNab Street’s success was simple.“It was 100 per cent about the location — Paddington is our stomping ground and I feel like we know it inside out,” he said. BEFORE: 8 McNab St, Paddington before Graya Construction got into the renovation. The view from the homes rooftop terrace.Owner of Graya Constructions, Rob Graya, said they were pleased to build a beautiful home and achieve a great outcome.“Very happy with the result. It was a very enjoyable build and it was a very nice feeling handing over the keys to a great family to enjoy the house,” Mr Graya said.Mr Graya said the architect, Joe Adsett, had created a standout home, and he would rank the project as one of his most enjoyable to date. AFTER: 8 McNab St, Paddington, QLD after its major makeover.The property had only been on the market for one day before it was put under contract by Ms Rice.The sale reflected the second highest price ever paid for a home on a 405sq m block in Paddington.More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoThe once decrepit home is now a designer showpiece with five-bedroom, three-bathroom accommodation across multiple levels and is positioned just a few minutes’ walk from the Rosalie Village cafe hub.The property includes a glass-walled wine store, huge Calacatta marble kitchen bench, in-built timber cabinetry, over-size pivot glass front door and open plan living space that connects to the patio and pool area. BEFORE: Rob Graya knew the position was right for a successful project.“With Paddington’s number one street only next door it was a no brainer for us when Ben Wakely (agent) showed us the site,” he said.Follow Kieran Clair on Twitter at @kieranclairlast_img read more