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10 QLD suburbs that smashed records in 2017/18

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10 QLD suburbs that smashed records in 2017/18

Andrew Stone and Naomi Freney with their kids Remy Freney 6, Chelsea Stone 7 and Easton Freney 10 at the house they recently bought in Bundall, where the median house price recently burst through the $1m barrier.Source:News Limited

THEY are the state’s high achievers.

The suburbs that have outperformed their peers in the residential property stakes; breaking records for sale price, number of sales, days on market or for smashing through the million-dollar median price ceiling.

Benchmarks have been beaten in blue-chip areas like Ascot, Sunshine Beach and Surfers Paradise, as well as suburbs on the rise, including Kalinga and Underwood.

Records were smashed in at least 10 suburbs across the state in the past 12 months— an indicator of a shortage of stock and increase in demand in a number of competitive markets.

Here are some of Queensland’s benchmark busters of 2017/18:

ASCOT

The standout record-breaker in Brisbane was the sale of the trophy home of Domino’s Pizza boss Don Meij in Ascot.

The $11 million sale price of 27 Sutherland Avenue in March set a new record for the inner-city, blue-chip suburb.

It was also Brisbane’s highest sale of the past financial year.

10 QLD suburbs that smashed records in 2017/18

This home at 27 Sutherland Ave, Ascot, sold for $11m.Source:Supplied

Patrick McKinnon of Place Ascot, formerly of Coronis Hamilton, brokered the deal and said Mr Meij sold after receiving an off-market offer from a buyer who had fallen in love with the property.

Set on a sprawling 2024 sqm, the lavish home has six bedrooms, six marble ensuites and a jaw-dropping outdoor entertaining space with resort-style gardens, infinity-edge pool, pool house with outdoor kitchen and verandas.

10 QLD suburbs that smashed records in 2017/18

Inside the home at 27 Sutherland Ave, Ascot.Source:Supplied

BRENDALE

The fastest selling suburb in Queensland is Brendale in the Moreton Bay region, where the median house price is still an affordable $461,000.

It takes, on average, just 11 days to find a buyer, according to CoreLogic.

According to the latest Census data only 14.5 per cent of properties in the suburb are houses. With so few houses available, demand can be strong when something new is listed.

BUDERIM

The Sunshine Coast hinterland suburb had the highest number of houses change hands in 2017/18, with 573 houses selling in the 12 months to May, according to CoreLogic.

The owners of a majestic property at 10 Orme Rd, Buderim, that once hosted royalty have embarked on a new push to sell it.

10 QLD suburbs that smashed records in 2017/18

Buderim House at 10 Orme Rd, Buderim, is for sale.Source:Supplied

With all the focus on the royal newlyweds of late, it’s only fitting this heritage-listed Queenslander now holds extra appeal, given it was the residence of choice for the Duke of Gloucester during a royal visit in 1934.

The grand residence on 6315 sqm was built circa 1913 on the highest point of the northern slope of Mt Buderim, overlooking the Maroochy coast and river valley.

10 QLD suburbs that smashed records in 2017/18

Inside Buderim House at 10 Orme Rd, Buderim, which is for sale.Source:Supplied

BUNDALL

This Gold Coast suburb made the million dollar club for the first time in 2017/18, with its median house price now $1.05 million.

The sale of a waterfront mansion at 8-10 Marseilles Court this year for $9 million also broke the suburb’s sale price record — trumping the $8 million sale achieved in 2009 for a house in the same street.

The resort-style home has five bedrooms and seven bathrooms and is on a huge, 2703 sqm riverfront block.

REIQ Gold Coast Zone chairman Andrew Henderson said the new record was not surprising given the Coast’s strong market and he was confident property values would continue to soar.

Andrew Stone and his partner, Naomi Freney, recently bought a five-bedroom house, which they renovated, in Bundall for $620,000.

Mr Stone said he considered it a bargain given how tightly-held the suburb had become and the increase in house prices.

“I think we probably hit pot luck with that place,” Mr Stone said.

“People had been saying that area was going to go up 20 years ago and all of a sudden, it’s growing and there’s not a lot of turnover anymore.”

Ben Latimer of LJ Hooker Southport said Bundall’s transformation into a record-breaking suburb had happened gradually.

“It’s desirable because it’s so close to everything and there’s a good mixture of waterfront and dry blocks,” he said.

Paul Nikolas agrees.

He’s been buying, renovating and selling homes in Bundall for the past six years.

The last house he sold there earned him a profit of around $700,000.

He’s now selling his latest project at 19 Donegal Crescent for a cool $3.995 million.

“I’ve found a niche market here — nice, older properties on the water,” Mr Nikolas said.

10 QLD suburbs that smashed records in 2017/18

This house at 19 Donegal Cres, Bundall, is for sale.Source:Supplied

10 QLD suburbs that smashed records in 2017/18

The view from the house at 19 Donegal Cres, Bundall.Source:Supplied

COORPAROO

The inner Brisbane suburb achieved a new sale price record when a landmark house sold for $5.025 million just last month.

Designed by architect Eric Trewern, the English-inspired home known as Thongabel at 4 Welwyn Crescent captures views of the entire Brisbane City skyline.

10 QLD suburbs that smashed records in 2017/18

This house at 4 Welwyn Cres, Coorparoo, sold for a record price for the suburb.Source:Supplied

The five-bedroom, three storey house had been renovated with architectural features including Tulip Oak timber floors, Italian tiles and travertine.

Other highlights included a library, gym, climate controlled wine cellar, formal office, heated lap pool, heated horizon spa and outdoor space for kids to play.

Just 4km from the CBD and with a number of good Catholic and private schools on offer, Coorparoo has become one of Brisbane’s most sought-after suburbs.

The median house price sits at $875,000, according to CoreLogic.

10 QLD suburbs that smashed records in 2017/18

Inside 4 Welwyn Cres, Coorparoo, which sold for $5.025m in 2018.Source:Supplied

KALINGA

The tiny, up-and-coming suburb in Brisbane’s inner north made it into the million dollar club for the first time in 2017/18.

Its median house price broke through the $1 million barrier in late 2017 and currently sits at $1.04 million.

In November, 2017, records show the offmarket sale of a house at 119 Nelson Street for $4 million set a new price record for the suburb.

MANLY

Brisbane’s bayside is a sleeping giant only held back by lack of stock, according to one of Manly’s leading agents.

The suburb set a new sale price record for both houses and units in the past financial year.

Marc Sorrentino of Place Manly recently sold a unit in the seaside suburb for a whopping $1.2 million — smashing the previous record price paid for an apartment there by $345,000.

10 QLD suburbs that smashed records in 2017/18

This apartment at 301/177 Melville Tce, Manly, has sold for $1.2m.Source:Supplied

A couple from Sydney snapped up the luxurious three-bedroom, two-bathroom pad at 301/177 Melville Terrace, which had been advertised for offers over $1.1 million.

The median unit price in Manly, just 15km from Brisbane’s CBD, is $485,000, according to property research firm CoreLogic.

Late last year, Mr Sorrentino sold a family home on a huge, waterfront block at 497 Royal Esplanade for $3.9 million — smashing the suburb record for the sale price of a house.

10 QLD suburbs that smashed records in 2017/18

The sale of this house at 497 Royal Esp, Manly, set a new record for the suburb.Source:Supplied

“I keep saying it’s Australia’s best kept secret, but you watch. The prices are just going to keep going up and up and up,” he said.

“There’s just been a lack of good stock.”

SUNSHINE BEACH

The sale of a beach house in Sunshine Beach for $18 million in March set a new price record for the entire Sunshine Coast region.

10 QLD suburbs that smashed records in 2017/18

This mansion at 21-23 Webb Rd, Sunshine Beach, QLDSource:Supplied

The seven-bedroom, eight-bathroom property at 21-23 Webb Road was bought by David Russell, the owner of private equity group Equis Energy.

Just streets away, former tennis star Pat Rafter’s beachfront home sold for $15.2 million to Betty’s Burger founder David Hales, within weeks of the Webb Road sale.

10 QLD suburbs that smashed records in 2017/18

The former home of tennis star Pat Rafter at 46 Seaview Tce, Sunshine Beach.Source:Supplied

SURFERS PARADISE

A whopping 1398 units were sold in the Gold Coast’s glitziest suburb in the past financial year — more than any other property type in any other suburb.

It seems only fitting then that the most expensive penthouse Queensland has ever seen is under construction in Surfers Paradise.

10 QLD suburbs that smashed records in 2017/18

An artist’s impression of one of the apartments inside the Spirit 89 tower at Surfers Paradise.Source:Supplied

Priced at a whopping $41m and spread across two full floor levels, the highest home in the $1.2 billion Spirit 89 building easily tops the list of Queensland’s most expensive penthouses.

The 1899sq m sky home will also be one of the largest in the country, almost twice as large as Hong Kong billionaire Tony Fung’s $7.95 shell of a penthouse in the Soul building, and just a fifth smaller than the hyper-exclusive Boyd Residence above ANZ Tower in Sydney — which at $66m is Australia’s most expensive penthouse.

“Without the spire on Q1, it is the tallest residential building in Queensland,” agent Julian Sutherland of Ray White Projects told The Courier-Mail.

10 QLD suburbs that smashed records in 2017/18

An artist’s impressions of the Spirit 89 tower at Surfers Paradise.Source:Supplied

UNDERWOOD

The working class suburb in Brisbane’s south experienced the highest capital growth in Queensland in the past 12 months.

The Logan suburb’s median house price climbed nearly 25 per cent to $601,345 in the past financial year.

Underwood’s median house price also jumped a massive 65.6 per cent between May 2008 and May this year — the highest growth of any Brisbane suburb in the past decade.

CoreLogic senior research analyst Cameron Kusher told The Courier-Mail it was “a bit surprising” given the suburb’s location, 17km from Brisbane’s CBD, but its affordability and access to the highway and Gold Coast made it attractive.

“But its median (house) price is now up over $600,000, so it’s not really that cheap anymore,” Mr Kusher said.

Source: brisbaneinvestor.com.au

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Why Noosa is now the strongest property market in Queensland

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noosa property

Noosa is on track to take out the title of Queensland’s best performing property market for 2018, as new figures reveal it has delivered the strongest growth in the state over the past 12 months.

Noosa’s growth eclipsed that of both the Gold Coast and Brisbane, according to data from the Real Estate Institute of Queensland, making it Queensland’s most prestigious property market.

noosa property

46 Seaview Terrace, Sunshine Beach, was listed for offers over $18 million. Photo: 1404051471/92FLTLT WILKINSSON

But in the 12 months leading up to June, demand in the area reached new heights – the median house price grew 6.9 per cent to $695,000 and units by an impressive 10.2 per cent to $540,000.

It has been a heady year for the Noosa region – earlier this year a $22 million Sunshine Beach trophy home made headlines when it set a new record for the Sunshine Coast.

By rights, as one the biggest real estate deals in Queensland in recent years, the house at 21-23 Webb Road — a seven-bedroom, eight- bathroom beachfront estate — should have been a jaw-dropping, albeit rare, headline-stealer.

noosa property

312 Teewah Beach Road, Noosa North Shore, could be the most unique beachfront property in Australia. Photo: Supplied

But Noosa was already up in lights. Less than two weeks earlier, Pat Rafter’s $18 million beachfront mansion had gone under contract.

REIQ chief executive Antonia Mercorella said Noosa had all the ingredients for price growth.

“This is a highly desirable part of the world, with stunning natural features, world-class beaches, beautiful climate year-round, outstanding shopping and dining precincts, and, crucially, exclusivity,” she said.

noosa property

The views stretch from Double Island Point to all five bays of the national park. Photo: Supplied

“There is limited housing supply being added to Noosa and competition is obviously driving price growth.

“Looking forward, once the Bruce Highway upgrades are completed and commuting to Brisbane becomes more feasible, it’s likely we’ll see added demand for Sunshine Coast living.

“This area would benefit from greater supply levels, undoubtedly.”

noosa property

Where Noosa River meets the ocean: 2 Frying Pan Track, Noosa North Shore sits on nearly four acres of land and is already attracting buyers from across the globe, agent Adrian Reed says.

Local prestige agent Adrian Reed of Reed & Co Estate Agents said Noosa’s success was not simply the result of cashed-up Sydney buyers.

Instead, he said, the region’s infrastructure boom was driving a shift in demographic of Sunshine Coast buyers.

“Billions of dollars have been invested, including transport, tourism and medical sector … the stimulus for growth on the back of these projects is reshaping the traditional buyer profiles,” he said.

49 The Peninsula, Noosa Waters, will go to auction on Sunday, October 7.

Mr Reed brokered a record-breaking deal for a Noosa North Shore house last year that made headlines around the country for being Australia’s most unique beachfront estate.

The house was snapped up by a mystery buyer in a deal worth more than $10 million and Mr Reed said the momentum of the market had shown no signs of slowing down since then.

“I’ve just listed another incredible Noosa North Shore property at 2 Frying Pan Track and the interest has been very positive with buyers from interstate and internationally,” he said.

noosa property

Webb Road, Sunshine Beach, Queensland, broke records when it sold earlier this year. Photo: Supplied

“Access to international travel and upgrades to digital infrastructure is enabling younger wealthy industry leaders and expats to buy in Noosa with confidence.

“This has already had a positive knock on effect to the luxury property market in Noosa.

“When you couple this with traditional upward pressure from baby boomers capitalised from southern markets making a lifestyle transition, it’s creating great selling conditions for Spring.”

The rest of the Sunshine Coast region delivered similarly strong results for the year to June 2018.

Overall, the Sunshine Coast local government area grew 6.5 per cent to a median house price of $575,000.

Previous frontrunner the Gold Coast continued its trajectory of strong growth, with the median house price increasing 4.5 per cent to $622,031.

“This is not a completely unexpected result in the post-Games period as we see normal activity resume,” Ms Mercorella said.

The Gold Coast is the biggest apartment market in Queensland, selling more than 10,000 units in the 12 months to June 2018.

It was also one of the few unit markets in Queensland to deliver positive growth, adding a slender 0.9 per cent to values to a median of $429,000.

Source: www.domain.com.au

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The Coast area where it’s almost impossible to get a rental

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The Coast area where it's almost impossible to get a rental
Shelley Beach at Caloundra. The area had rental vacancy rates of just 0.5 per cent at the end of March. John McCutcheon

THE Caloundra coastal area is the tightest rental market in Queensland, latest data has revealed.

The Caloundra coast shared the mantle with Gympie for the tightest vacancy rates across Queensland in March, with just 0.5 per cent of rental properties vacant in both areas.

Noosa was the third tightest market in Queensland, with 0.8 per cent vacancy.

The Sunshine Coast hinterland was the easiest place in the region to find a rental property, with 2.2 per cent of rental properties available.

But the figures reflected a slight easing from the Sunshine Coast’s strangled rental market conditions at the end of December, when both Caloundra and Maroochydore sat at 0.4 per cent vacancy.

While the figures are bad news for those trying to secure a lease, Real Estate Industry Queensland CEO Antonia Mercorella said the results were positive for investors after several years of “bleak” market conditions.

Ms Mercorella said the Australian Prudential Regulation Authority should ease restrictions on lending to allow more property investment and increase the number of rental properties available.

“Some of our markets, such as the Gold and Sunshine Coasts, remain uncomfortably tight and we would like to see more investors enter those markets, however APRA’s tightened lending criteria is not encouraging investors to consider property,” she said.

Data from SQM Research up to April 20 revealed rental prices had jumped since the end of last year, with rents for homes up 3.2 per cent and units up 3.7 per cent.

Larger homes in particular have seen significant price growth, with rent prices for three bedroom houses increased 12.3 per cent since April 20, 2015.

QUEENSLAND’S TIGHTEST MARKETS

Caloundra: 0.5%

Gympie: 0.5%

Noosa: 0.8%

Sunshine Coast: 1%

Gold Coast: 1.1%

Source: www.ipswichadvertiser.com.au

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SEQ begins big push for a billion-dollar City Deal

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SEQ begins big push for a billion-dollar City Deal

Queensland Premier Annastacia Palaszczuk (left) and Treasurer Jackie Trad are pushing for a City Deal for south-east Queensland.

Photo: AAP/Dan Peled

Political delays dogging infrastructure projects will be history if talks on Tuesday morning cement a new billion-dollar 15-year City Deal for south-east Queensland between all three levels of government.

Such a deal could benefit 3 million people catching trains and buses, driving on highways, building businesses, looking for housing, and finding school and universities between the Sunshine and Gold coasts and west to Toowoomba.

Deputy premier Jackie Trad and Brisbane’s lord mayor Graham Quirk will on Tuesday morning outline how close the 10 south-east Queensland councils – Brisbane, Ipswich, Logan, Moreton Bay, Redland, Scenic Rim, Somerset, Sunshine Coast, Toowoomba and Lockyer Valley – are to signing Australia’s largest City Deal with the federal government.

Australia now has three City Deals backed by the federal government: Townsville (2016), Launceston (April 2017) and Western Sydney (March 2018).

Cr Quirk, the chairman of Council of Mayors (SEQ) that represents the region’s local governments, described a City Deal for the area as “a dramatic change”.

“The power of aligning the efforts of all levels of government and securing a long-term program of investment in our region will be a game changer,” Cr Quirk said.

“For the first time, all levels of government will be working in unison to protect and enhance the prosperity and liveability of south-east Queensland.”

SEQ begins big push for a billion-dollar City Deal
Brisbane’s lord mayor Graham Quirk begins a campaign for a City Deal funding package for 10 councils on Tuesday morning.
Photo: Fairfax Media

A City Deal binds the three levels of government — federal, state and local — as a group to agree to a 15-year rolling funding program of infrastructure projects that a fast-growing region needs.

As projects provide a lift in land value, that financial uplift is identified, captured and then re-invested into the infrastructure funding pool, under a model first identified in Manchester in 2012 and then in Brisbane in 2014.

In April 2018, Cr Quirk and Ms Trad met the federal government’s new Cities and Urban Infrastructure minister Paul Fletcher, when they first put forward the SEQ City Deal.

All parties described those 2018 talks as “positive”.

Cr Quirk and Ms Trad will begin the public push for the SEQ City Deal at a business breakfast at Brisbane’s Convention and Exhibition Centre on Tuesday.

“We secured Australia’s first ever City Deal in Townsville, which is paying dividends with projects like the North Queensland Stadium, delivered through the City Deal,” Ms Trad said.

“That is under construction and on track to be open for the start of the 2020 NRL season.”

Townsville’s City Deal is a 15-year arrangement, while Launceston’s is a five-year deal and Western Sydney’s is a 20-year deal.

The federal government is tipped to announce City Deals for Geelong and Darwin by September 2018, allowing planners to work on Hobart, Perth and south-east Queensland over 18 months.

How could it help?

It locks in project funds over 15 to 20 years, moving them away from political promises, which are subject to election outcomes. It could remove election squabbling over the same project.

It sets out a timetable for  projects allowing the private sector to invest more confidently.

It could help the next generation of infrastructure projects, after the Pacific Motorway, Cross River Rail and Brisbane Metro projects were all delayed by politics, angering voters.

It has also been mentioned as a way of funding Moreton Bay’s new university campus at Petrie and breathing life into the Brisbane River’s Resilient Rivers proposal.

What is Townsville’s experience after 18 months?

The Townsville City Deal was signed on December 9, 2016. It is a 15-year agreement.

Work has begun on stage two of the 25,000-seat $250 million North Queensland Stadium. It will be finished for the 2020 rugby league season. It is funded by the federal and state governments, and Townsville City Council.

The Queensland government has promised $250 million for new water supply for Townsville.

A business case for new Townsville Port facilities is almost finished and the Queensland government has pledged $75 million for port upgrade.

Townville mayor Jenny Hill said choosing the right projects was essential to make a City Deal effective.

“The City Deal provides a roadmap for delivery that breaks the political cycle so it is very important to choose the right projects or areas for reform that will make the biggest difference to a city or region,” Cr Hill said.

“All three levels of government also need to buy into the key priorities of the local area that are included in any City Deal.”

SEQ begins big push for a billion-dollar City Deal

Townsville Mayor Jenny Hill on top of Castle Hill with Townsville in the background.
Photo: supplied

SEQ City Deal – the background

  • May 2012Co-funding model idea began in United Kingdom.
  • June 2015: Queensland prepares its own case for City Deals after Ms Trad looked at the UK City Deals idea in Manchester.
  • 2016: Council of Mayors (SEQ), Queensland Property Council and the Queensland government put a plan together.
  • November 2016: Queensland Premier Annastacia Palaszczuk signed a memorandum of understanding with prime minister Malcolm Turnbull in November 2016 to develop “tailored City Deals” for Queensland.
  • February 2017: Ms Trad and Cr Quirk wrote to then-federal cities minister Angus Taylor, agreeing to a joint submission.
  • Late 2017: A Cities Transformation TaskForce established in Brisbane.
  • June 2018: Queensland’s major contractors called for a City Deal.

Source: brisbaneinvestor.com.au

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