Southern capitals aren’t the only ones with big property markets

first_imgThis Harbour Rd, Hamilton home sold for $11.8 millionSOUTHERN property powerhouses Sydney and Melbourne may think they’ve got the big real estate deals covered, but Brisbane is not without its fair share of record breaking sales.Although those that breach the $10 million mark may not be as common here as in the other capital cities, agents believe some of recent big hitters have now helped buyers breach an imaginary barrier and more properties will sell for above that level.Brisbane’s biggest ever residential house sale was chalked up in 2014, when a company associated with mining magnate Gina Rinehart bought a home at Aaron Ave, Hawthorne for $14 million.Before that the record had been held since 2007 by a home at Eldernell Tce Hamilton.That home, which was once known as Eldernell, then became Bishopsbourne when it housed the Anglican Archbishop of Brisbane, has more recently been known as Farsley.The historic property which was built in 1869 and sold in 2007 for $11.2 million.The sale of Consolidated Properties head, Don O’Rorke’s, home at Harbour Rd, Hamilton in April 2015, also put it in the top five residential house sales ever. The home and adjoining land sold for $11.8 million.Next in the top five was another recent sale at St Lucia. The home at Swann Road, St Lucia changed hands in May 2015 for $11.125 million.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours agoThe home, which was known as the Pink Palace, was bought by developer Sunland with plans for luxury residences.It had fallen into disrepair in recent years but its setting on 14 residential block made it very appealing to developers.It was built by well-known Brisbane builder Noel Kratzmann in the late 1980s, and was more recently in the news before its sale when its former owner, socialite Cindy Fleming died of an asthma attack.The sale in December for $10.5 million of a home in Welsby St, New Farm to Vita Group chief executive Maxine Horne was the biggest deal last year and rounding out the top five residential house sales ever was a home at Sykes St, Ascot which changed hands in February 2015 for $10.4 million to a resident of Switzerland.Place managing director Damian Hackett said there were plenty of properties in Brisbane that could sell for above those prices, but they had hadn’t been offered to the market in recent years.“A number of properties that exist in Brisbane have cost a lot more, in that $10 million to $20 million bracket to get there,’’ he said.“People have bought land and built properties but they have never transacted.’’Mr Hackett predicted the bigger sales would become more common place in Brisbane.last_img read more

Interest in ’rare’ Clayfield house

first_img22 London Rd, ClayfieldBRISBANE’S auction market is slowly starting to wake up following the traditionally sleepy summer holiday period.Ray White Ascot selling agent Damon Warat is predicting a big sale result this weekend at 22 London Road, Clayfield.“I am definitely expecting it to sell under the hammer on Saturday,” Mr Warat said.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours ago“At this stage I have at least three bidders, possibly four and there has been heaps of enquiry.“I have had lots of locals look at it plus there’s been interest from Sydney. “I have had local families who want to renovate and lift it.” 22 London Rd, ClayfieldThe home goes under the hammer at 3pm on Saturday with chief auctioneer Philip Parker calling the action live on-site.“It is quite rare and it is in an original form. It is the last of a rare kind of property in Clayfield which sits on a large 810sq m.”last_img read more

Good news for Townsville investors as vacancy rates drop

first_imgTownsville continues yielding positive news across the city with vacancy rates falling from 7.1 per cent in September to 6.4 per cent in December.TOWNSVILLE continues yielding positive news across the city with vacancy rates falling from 7.1 per cent in September to 6.4 per cent in December.Gross rental yields have also remained steady at a citywide average of 4.4 per cent for houses and 4.9 per cent for units.Fringe-city suburbs recorded the highest gross rental yields with Stuart leading the pack at 7.2 per cent for houses and Hermit Park a popular choice for units with a return of 7.3 per cent.Job losses, however, remain a big challenge for the city and, combined with an oversupply of stock, have triggered a $5 reduction in the weekly median rent for three-bedroom houses, $5 for two-bedroom units and $10 on three-bedroom townhouses.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Tenants are also spoiled for choice with around 1800 rental properties listed on realestate.com.au, of which 60 per cent are houses, 37 per cent units and the remainder land.Prices vary between $150 a week for a basic two-bedroom rental to $1300 a week for an executive home on Castle Hill.The average time of renting a property is five weeks, with agents highlighting the excess supply of government subsidised (NRAS) properties, which are available for low-income earners and people seeking work.Investors struggling to get their properties leased should consider basic renovation and upgrades, according to property expert and chief executive of Your ­Empire, Chris Gray.“Renovating your investment property can give you capital growth, even in a flat market, and the instant profits that come from a renovation can be used to help fund any negative cash flow,” he said.“If you’re looking to boost the price of your property but don’t want to take on a large renovation project, there are several small-scale improvements you can do yourself to instantly lift the value of your home. “The main key to remember when renovating is to make sure you know what adds value to your property without overcapitalising.”last_img read more

The owners of this Brisbane home walked away with over $1m today

first_img76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.auTHE owners of this ordinary Brisbane home have walked away with over $1m today – and signs are good that many others in the neighbourhood could follow suit. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.auThe four bedroom home built in 1960 at 76 Effingham Street, Tarragindi – 15 minutes outside the Brisbane CBD – settled for $1.005m today. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.auMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoAgent Ben Jackson of Metro City had marketed the home as one where the owner was willing to meet the market, and highlighted the fact that it was on two lots in an up-and-coming growth suburb. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.au“We anticipate it will keep happening. It’s an extremely popular area for redevelopment.”Among other recent sales in the area was a five bedroom home at 154 Tarragindi Rd, Tarragindi, that sold for $916,619 last week.center_img 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.au“The owners are over the moon and the buyers are excited. This was a post war family home and some builders bought it to subdivide the land and build two luxury homes,” he said. 76 Effingham Street, Tarragindi, Qld 4121. Picture: Realestate.com.au“It’s what’s happening in that whole street. A lot are 800 to 900sq m blocks in the area.”Around 10 such sales had been completed in the suburb, according to Mr Jackson, with many more expected to follow.last_img read more

Townsville renovator attracts record 96 bids at auction

first_imgA West End renovator attracted 96 bids at auction over the weekend – the highest number ever called by local auctioneer Clint Wallis (L) and Errol Munro of Principal of Ray White Townsville.TOWNSVILLE’S property auction market is heating up with a West End renovator attracting 96 bids and selling $32,000 above reserve price.The one-bedroom property at 146 Francis St sold for $222,000 after eight potential buyers went head-to-head in one of the most heavily contested sales encountered by auctioneer Clint Wallis.Mr Wallis said the home beat his previous auction record for most bids by 10.“It was incredible, as it’s not the type of property you would expect buyers’ competition on,” he said.“While the property has really good bone structure, it really is just a square box with no internal walls.“So it was a really good result. The owner was happy to seal the deal at $190,000 but it just kept on going up.”Ray White Townsville sales agent Julie Munro said she was still buzzing.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“We had eight registered bidders on the day, one of which registered halfway through the (auction) call and another phoned in from Sydney,” she said.“In the end it was a young man and his father who placed the winning bid, who now plan to renovate the home for the son to live in.“The property comes with a bit of history as it used to be the old West End post office and also at one point a little tourism shop.“But I think, in the end, it was the location that won everyone over and the property does leave room for imagination.”Equally impressive results are expected this weekend with five properties at Mysterton, Castle Hill, Aitkenvale. Idalia and Cranbrook going under the hammer this Saturday.McGrath principal Brad Matheson, who will take 10 Stirling Drive, Castle Hill, to auction at 10am on Saturday, said the four-bedroom home had already attracted plenty of interest from buyers.“We’ve had 31 inspections for the property, two offers prior to auction and several people looking to register,” he said.“I think the home will do quite well. the auction market has been heating up.”last_img read more

Contemporary design sets new standard for acreage luxury living

first_imgImagine Christmas here at 49 Sky Drive, Highvale.Set on a 6000sq m allotment, Belle Property — Samford selling agent Georgie Haug said: “It is destined to become the area’s benchmark for living and entertaining brilliance with its flowing proportions, relaxed resort-like environment and ultra-private location”. 49 Sky Drive, Highvale.Living areas are separated from the bedrooms with a clever interior design.There are expansive outdoor areas and sheltered decks perfect for entertaining during the summer and winter months. Check out the fireplace at 49 Sky Drive, Highvale. More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019Relax and unwind at 49 Sky Drive, Highvale. 49 Sky Drive, Highvale.This architecturally designed family sanctuary has raised the bar to a whole new level. The four-bedroom, two-bathroom home is at 49 Sky Drive, Higvale and located in the Samford Skies Estate.last_img read more

New warning that 2.7m Aussies are not ready for disaster season

first_imgA bushfire at Caloundra West approaches the Bruce Highway, bringing traffic to a standstill at Bells Creek. Picture: Lachie Millard.Ms Hassan warned homeowners to “be mindful that if the cyclone has been named, it’s usually too late to take out a home insurance policy”.The finder.com.au analysis found women (18 per cent) were more unprepared than men (12 per cent), and Generation Y was by far the most exposed (26 per cent) of the age brackets. Nine per cent of Baby Boomers and 14 per cent of Generation X were not ready.Around 28 per cent of renters were not prepared for a natural disaster, Ms Hassan said.*FOLLOW SOPHIE FOSTER on Twitter or Facebook Most popular forms of natural disaster protection: Home insurance (61 per cent)Fire extinguisher (27 per cent)Emergency kit (24 per cent)Evacuation plan (23 per cent)Other – including alerts and “just get in the car and go” (1 per cent) (Source: finder.com.au) The aftermath of Cyclone Debbie at Conway Beach, Queensland. Picture: Wesley Monts. Stuart Harris at Shute Harbour where his houseboat called “Munn” was wrecked during Cyclone Debbie. Picture: Annette Dew.Bessie Hassan, finder.com.au insurance expert, it was a concern that one in seven Aussies were leaving their homes exposed to disasters.“The fact that so many Australians are unprepared in the case of a natural disaster is concerning,” she said. “Whether it’s a small investment like having an evacuation plan, or whether you’re paying for home insurance, it’s important to prepare in case of the worst.”More from newsParks and wildlife the new lust-haves post coronavirus1 day agoNoosa’s best beachfront penthouse is about to hit the market1 day ago“With bushfire season nearly upon us, taking precautionary measures now could save potentially thousands of dollars worth of damages later.” A local resident paddles his kayak through floodwaters in the suburb of Depot Hill in Rockhampton in April this year after floodwaters resulting from ex-cyclone Debbie. Picture: AAP Image/Dan PeledANALYSTS have issued fresh warnings to homeowners heading into what’s expected to be an extreme summer, after new figures showed 2.7 million Aussies weren’t disaster-ready.Queenslanders, women, Gen Y and renters seem to the main culprits, according to new analysis from finder.com.au, which warned that 57 per cent of major cyclone damage from 2011 to 2016 was comprised of uninsured losses – a bill totalling $1.4 billion.Queensland – where some of the worst disaster damage had occurred in the last 12 years – was the most unprepared of all the states (17 per cent), despite housing a quarter of all Australia’s flood cases. Firemen look over the remains of three houses that were destroyed by fire on the Noosa North Shore on the Sunshine Coast in August this year. Picture: AAP Image/Darren England.last_img read more

Recent sale proves presentation is everything

first_imgThe home at 176 Macdonnell Rd, Margate.A well-presented three-bedroom lowset home has sold under the hammer in Margate after attracting strong interest from buyers. Marketing agent Jacob Cantlin, of Elders Real Estate Redcliffe, said the property at 176 Macdonnell Rd sold for $354,000 at auction. There were three registered bidders on the day of the auction and two actively placed bids to try win the property. An opening bid of $330,000 kicked off proceedings and after some quick negotiations the home was sold to a local owner-occupier. More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019Inside the home at 176 Macdonnell Rd, Margate.Mr Cantlin said 22 groups inspected the home before auction, with quality presentation bringing in the interested parties. “The owner did a great job in always being meticulous with the presentation of the home,” he said. “It was a basic home, but it had nice polished floors and a really nice kitchen.“There is certainly strong demand for that entry-level, low-maintenance, easy-to-buy home in the Margate market.” Mr Cantlin said while there appeared to be less investors looking to buy in Margate at the moment, there were still plenty of owner-occupiers across all price points.last_img read more

The market is flying as buyers ramp up demand

first_imgThe home at 11 Frenchs Rd, Petrie, Brisbane.Properties in Petrie have been barely hitting the market before they’re sold, according to Mark Rumsey, sales director at David Deane Real Estate.“It’s absolutely flying — I’ve just had three properties listed last week that all sold within the week — all in multiple offer situations and all selling well beyond the listed advertised price,” he said.Mr Rumsey said the sale of 11 Frenchs Rd, Petrie for $400,000 on November 8 was typical of the hot conditions.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019Inside the home at 11 Frenchs Rd, Petrie, Brisbane.“It hit the market and sold before we even had an opportunity to show it — it was an investor up in Bundaberg — and it sold on the Friday before the first open home. It was a significant enough offer beyond the list price,” he said.The lowset home had a secure 12-month tenancy that was producing a good yield. Mr Rumsey said the renovated home was right in the investor sweet spot.“It flew out the door,” he said.Mr Rumsey said there was a good cross section of buyers in the Petrie market.“Certainly the university has had some impact but it’s a combination of families and investor. I think it’s going to keep chugging along nicely next year,” he said.last_img read more

‘Tis the season: Make millions for the price of a secret santa gift

first_imgIt comes with gold bullion and furniture. The beachfront apartment is the latest prize home listing.Mr Rankin has advised the future winner to look at listing the property.“If the winner was looking to sell I’d put it on the market during or just after Commonwealth Games as everyone on the way to the beach volleyball will be driving past it,” he said.“It will attract top dollar, I’d suggest in this market even more than what it is valued at currently.”The 192sq m three-bedroom, two-bathroom luxury apartment on the ninth floor of the Kirra Surf building showcases coastal chic and features panoramic views from Surfers Paradise to Coolangatta. The Kirra Surf apartment can also be rented out.“Tickets are just $5, less than the price of a secret santa gift, so it really could be the start of a fabulous new life in the New Year,” Mrs Bishop said. “Not only are people in the draw to win a life-changing prize home but supporting a wonderful cause at Christmas time with money raised going to help our returned veteran family.”It will be drawn on January 31, as the first draw of 2018. It came with $124,287 of furniture and appliances.“The Kirra market is red hot right now, and in fact anywhere from Burleigh south is incredibly strong,” said John Rankin of Armstrong Real Estate, who specialises in the Kirra area. More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach Northless than 1 hour ago02:37International architect Desmond Brooks selling luxury beach villa21 hours agoThe RSL Art Union has launched another ticket draw of a nearby Kirra unit, valued at $2.4 million. This prize home at 302/1 Haig St, Kirra just sold for $2.35 million. Win then sell: the prize is a lucrative one.“Another option is to rent it out for fantastic returns as the apartments in that building are constantly booked out for top dollar,” Mr Rankin said.The three-bedroom, two-bathroom luxury beachfront apartment in Kirra Surf features ocean views, a spacious al fresco area, and comes with $93,376 worth of furniture and appliances, rates, water and body corporate paid for 12 months and $650,00 gold bullion.RSL Art Union General Manager Tracey Bishop said Kirra and the southern end of the Gold Coast are their most popular lottery locations. 902/2 Creek St, Kirra is the latest prize home up for grabs.A GOLD Coast property owner is a winner all over again, with the multimillion-dollar sale of their Kirra prize home. The $2.1 million three-bedroom, three-bathroom beachside entertainer’s apartment, won through the RSL Art Union Prize Home Lottery in May this year, has settled for $2.35 million, an increase of $350,000 on valuation. last_img read more