- Saville Southbank - 9th floor, river and city views, 127 sqm in total, listed at $780,000
- Quay West, 10th floor, 126 sqm, park views, just listed in the $700s with Colliers
- Parksland Sherwood, top floor, park and city views, one year old, includes separate study that could be used as third bedroom. 110 sqm in total, listed at $530,000
- Fresh Toowong, one year old, two pools, 134 sqm, listed at $555,000
- Riva Indooroopilly, river views, but only one bathroom, 90 sqm, listed at $535,000
- Ciana Indooroopilly, includes separate study that could be used as third bedroom, huge balcony, over 150sqm, listed at $649,000
Sunday, March 21, 2010
Saturday, March 13, 2010
Mirvac has started its pre-release sales campaign for the Park building at its Waterfront development in Newstead. From the materials I have seen, it will have about 100 apartments. The building is divided into two sections, Park North and Park South. There is a mix of 2 and 3 bed apartments, plus some 1 bedrooms at the back of the buildings. It appears that this building has no gym or pool.
- a "two bed one bath" (67sqm internal, so small!) where the second bedroom is internal with no windows, listed at $580,000.
- a "three bed two bath" (81 sqm internal, which is in my view too small for a 2 bedroom apartment) with views of one of the other buildings, listed at $750,000.
Friday, March 12, 2010
|Locality||Median Dec Qtr 09||Change over qtr"||Median 12 months to end of |
|Change over 1yr"||Change over 5yrs|
|BRISBANE CITY (LGA)||$400,000||2.7%||$386,500||1.0%||38.0%|
|BRISBANE CITY ~ *||$456,000||2.0%||$423,500||-7.9%||10.6%|
|NEW FARM ~||$549,000||20.3%||$460,000||-3.2%||29.0%|
|SOUTH BRISBANE ~ *||$388,750||-5.2%||$399,250||-8.2%||19.5%|
|SPRING HILL ~||$347,500||-13.1%||$390,000||5.8%||47.2%|
|ST LUCIA ~||$403,000||-12.4%||$448,750||-1.4%||60.8%|
|WEST END *||$504,500||-2.0%||$509,000||-9.9%||64.2%|
Continuing a trend in Queensland’s residential property market, the number of sales of units and townhouses reduced markedly during the tail end of 2009, according to the Real Estate Institute of Queensland (REIQ). The REIQ research report, Queensland Market Monitor (QMM), has found the number of preliminary sales of units and townhouses fell 24 per cent between the September and December quarters last year.
The number of sales under $500,000 was also down 28 per cent over the period.
REIQ managing director Dan Molloy said the drastic reduction in sales – especially in the affordable price range – mirrored the retreat of first home buyers from the market.
“Unit and townhouses are popular with first-time buyers as they provide a less expensive way into the property market, especially in South East Queensland,” he said.
“However, first home buyers have now fallen to lows not seen since the high interest rate environment of mid 2008 which means demand for this segment of the market has lessened.”
The latest Australian Bureau of Statistics housing finance figures show that lending for all Queensland buyers fell dramatically in January to be down some 20 per cent on the year before.
“The recent batch of interest rate rises, even though inflation appears to presently be under control, is obviously having an impact on the Queensland market with sales numbers well below what they were during the global financial crisis last year,” Mr Molloy said.
Across the State, the December quarter median unit and townhouse prices edged upwards as sales in the affordable end of the market softened.
Sunday, March 7, 2010
- How many apartments are in the building in total? If there are more than 200 apartments in the building, my opinion is that the building is too big. This creates many issues. One problem is that if you try to sell or rent your apartment, you will be competing with too many other apartments in the building. And there will be too many people using the shared facilities.
- How many elevators in the building, and what is the ratio of elevators to apartments. Moreover, the higher the building, the more elevators are needed. For some of the better buildings in Brisbane, there are 32 or 38 or 44 apartments per elevator. This is good. So using these ratios, a building with 400 apartments should have 9 to 12 elevators.
- How many apartments per floor? A larger floor plate usually results in a less friendly building and more security issues. I think that 6 apartments per floor is a good number.
- Is there a pool, gym and common room?
- Where is the building located? Avoid main roads and highways.
- Is there an onsite and live-in manager.
- How much money is in the building sinking fund. For a large building, this would typically be more than $500,000 (depending on age and size). A new building has a smaller sinking fund, and should have less problems.
- What is the total internal size? Anything less than 85 sqm internal is too small for a two bedroom. There are good two bedroom apartments in Brisbane where the internal size is over 100 sqm.
- What is the total size, including balcony? This should be at least 95sqm. Here are some typical sizes of good 2 bed apartments in Brisbane that I have looked at recently - 132 sqm, 116 sqm, 128 sqm, 119 sqm. I would avoid any apartment without a balcony. (I saw a new Mirvac apartment on the Gold Coast that was 150 sqm internal, plus a 25 sqm balcony.)
- What is the width of the living room. Ideally, the living room should be at least 4 metres wide. A typical living room is 4m wide x 6m depth.
- A corner or floor-thu apartment will usually have better breezes and more light.
- Do all bedrooms have windows?
- Each bedroom should be at least 3m by 3.2m in size, plus built in wardrobe. Ideally, the main bedroom should have a wall that is at least 4m long.
- What is the external length of the apartment? This determines how much natural light the apartment will have. A good two bedroom apartment will have an 11 metre frontage, or more. (This is typically 4m for the living room, and 2 bedrooms of at least 3m each.) A two bedroom apartment in Admiralty Towers has a 12.3 m frontage on one side, which is great, plus another 7m down the side of the apartment -- a real bonus. I saw a 2 bedroom apartment recently that had only 7.7m frontage -- not enough -- the second bedroom was dark! A corner apartment or floor-thu apartment will have much more external frontage. For example, a corner two bedroom apartment at Parklands Sherwood has a 16.7 m frontage. Keep in mind that 1m makes a big difference here.
- Does the apartment have an internal laundry & store room in the apartment, or is the laundry in a cupboard?
- How many storage and linen and broom cupboards? Some apartments have none!
- Is the floor plan well designed. Not too much wasted space (e.g., hallways). Ideally, I like the bedrooms to be separated.
- What are the views, and could the views be built out?
- What floor? A higher floor is usually better, but not always. In the downtown area, try to be above the 6th floor at least.
- Two bathrooms are better than one bathroom. Some two bed apartments in Brisbane have two ensuites, plus a powder room for guests.
- Is there a both a shower and a bath?
- Does the apartment have a car park allocated to it. An apartment without a carpark is much harder to sell or rent. Sometimes, but rarely, a two bedroom apartment will have two carparks.
- Is there extra storage (for example, in the basement) allocated to the apartment.
- What are the quality of the finishes. See this post.