Friday, March 13, 2009
REIQ Apartment Price Report for Brisbane - Dec Qtr 2008
“This trend, plus investors not yet comprehensively returning to the market, means the unit and townhouse market has been affected by lower overall demand in the December quarter. Over the year, however, most areas recorded steady price growth,” REIQ chairman Peter McGrath said.
Brisbane City - Median December 08 Qtr - $460,000, with 2.2% increase over the Dec 07 results.
Indooroopilly - Median December 08 Qtr - $375,000, with 6.6% increase over the Dec 07 results.
Taringa - Median December 08 Qtr - $365,000, with 10.4% increase over the Dec 07 results.
Toowong - Median December 08 Qtr - $342,500, with 14.9% increase over the Dec 07 results.
West End - Median December 08 Qtr - $524,000, with 7.9% increase over the Dec 07 results.
Saturday, January 31, 2009
Brisbane Rentals
It is rental season in Brisbane, and there is strong competition for apartments. Many people are delaying a buying decision, and so are renting. Some renters have locked in long term leases, taking these apartments off the market for some time. Some investors have put their apartments into a short term letting pool for nightly "hotel" rentals, taking these away from the permanent rental market.
- Ciana Indooroopilly, 2 bedroom rents range from $475 to $600 per week
- Parklands Sherwood, 2 bedrooms from $440 per week; 3 bedrooms from $540 per week,
- Fresh Toowong, 2 bedrooms about $500 to $550 per week
- Admiralty Towers One, which has large apartments
- Arbour on Grey, from $550 per week for a 2 bedroom
- Metro 21, has both furnished and unfurnished, and is not doing short stay rentals so the building is more stable and homely.
Monday, January 26, 2009
Rentals In Brisbane
- Ciana Indooroopilly, 2 bedroom rents range from $475 to $600 per week
- Parklands Sherwood, 2 bedrooms from $440 per week; 3 bedrooms from $540 per week,
- Fresh Toowong, 2 bedrooms about $500 to $550 per week
- Admiralty Towers One, which has large apartments
- Arbour on Grey, from $550 per week for a 2 bedroom
- Metro 21, has both furnished and unfurnished, and is not doing short stay rentals so the building is more stable and homely
Monday, November 24, 2008
Indooroopilly Riverbend Tower
Riverbend Tower was supposed to be an all rental building. However, it appears that the developer has now decided to sell some of the apartments.
Example pricing:
- 2 bed, 2 bath, 6th floor, 95 sqm internal, 31 sqm balcony, 126 sqm total, 1 carpark = $600,000
- 3 bed, 2 bath, 5th floor, 125 sqm internal, 36 sqm balcont, 161 sqm total, 2 carparks = $735,000
Monday, September 15, 2008
El Dorado Village at Indooroopilly
The El Dorado Village project at Indooroopilly has launched its website.
See www.eldoradovillage.com.au The project is to launch in October, and pre-sales have been strong. There are 100 apartments in the complex, mostly 2 bedroom apartments, with some 1 beds and 3 beds. There is a display suite at Park Road in Milton.
The project does not appear to have development approval yet.Sunday, August 24, 2008
Ciana At Indooroopilly
I have inspected an apartment at Ciana at Indooroopilly. Although still under construction (completion expected in October 2008), I was pleasantly surprised. I viewed a 2 bedroom 2 bath apartment. It was large -- over 90 sqm internal and a balconey over 30sqm. The layout made the apartment feel large -- a living room in the middle and a bedroom each side. So it had a wide frontage, giving plenty of light. A separate study/utility area. The quality of the kitchen and large bathrooms was high -- with white tiles to the ceiling in the bathrooms. Good views East from the balconey to the residential areas of Indooroopilly. Good location - close to railway, shops, cinema and restaurants.
Saturday, August 16, 2008
Google Insights
Google has an interesting service, that allows you to see what people are searching for on Google.
It is called Google Insights. It is helpful when making investment decisions.
For example, when looking at searches conducted in Australia over the past 12 months, the following are relative rankings of various searches:
trilogy brisbane | 27 |
mill albion | 38 |
empire square | 44 |
westin brisbane | 21 |
sl8 | 13 |
mirvac | 59 |
pradella | 1 |
devine | 62 |
fkp | 10 |
stockland | 56 |
indooroopilly | 62 |
new farm | 40 |
west end | 54 |
st lucia | 19 |
toowong | 44 |
Saturday, June 28, 2008
Indooroopilly El Dorado Development
"While sales marketing has so far been low key, Dr Preller said there had been an overwhelming response from investors. "We have pre-sold more than 70 per cent of the residential component, so obviously there is a huge demand for this type of product."
My guess is that the presales have all been to South African's who put in the finance for this building. I haven't seen any pre-sales marketing at all. The building doesn't even have development approval, and objections were lodged with Council.Saturday, June 14, 2008
REIQ Apartment Price Report for Brisbane - First Q 2008
REIQ March Quarter Unit Report:
Downtown Brisbane:
Median March Quarter: $450,000
Median 12 months to end of March 08: $449,755
Change over 1 year - 6.5%
West End:
Median March Quarter: $625,000
Median 12 months to end of March 08: $518,500
St Lucia:
Median March Quarter: $510,000
Median 12 months to end of March 08: $401,500
Indooroopilly
Median March Quarter: $425,000
Median 12 months to end of March 08: $401,750
From the Brisbane Times:
"REIQ chairman Peter McGrath said current figures reflect historical averages for the year's first quarter.
"Brisbane is coming down off a high, so to speak ... the market is simply returning to normal," Mr McGrath said.
Yet Mr McGrath conceded investor demand has cooled recently as servicing increasing loan repayments becomes more difficult.
"Investors appear to be staying out of the market until rents reach a level where they match the increase in interest rates and they are confident that the market has definitely stabilised," he said.
The trend has been felt hardest within the CBD, where apartments in complexes on Charlotte Street have remained unsold for four months.
"It is taking 30 days longer to sell inner-city apartments because investors are bowing out," LJ Hooker Brisbane Central principal agent Alexandra Rutherford said.
Prices have been scaled back accordingly Ms Rutherford said.
"We have had apartments priced at $480,000 reduced to $460,000 and some reduced to $420,000."
However, Mr McGrath warned real estate agents against judging the current market against last year's anomoly.
"I don't think some agents realised how good it was last year, thinking. it could last forever. Now we are just moving back to a more traditional market," he said."
Saturday, June 7, 2008
El Dorado Indooroopilly Redevelopment
Saturday, September 22, 2007
Brisbane Apartments in the Suburbs
Sometimes, apartments in the suburbs provide better value than city apartments.
If in a good location and near transport, there is a greater pool of possible residents -- students, young city workers, retired couples, single mothers/fathers with one or two children, widows and the like. In other words, people who want convenience, but not the problems with looking after a house; people who want safety and facilities, but not a city apartment.
The areas of Brisbane that I think will have good capital growth over the next five years are:
- St Lucia -- near the city, Toowong and the University of Queensland. Some apartments have river and city views.
- Indooroopilly -- many facilities, on a main train line, near excellent schools and the University of Queensland. Some apartments have river and city views.
- Toowong -- close to the city, with facilities at Toowong Village, and a transport hub.
- Taringa (between Toowong and Indooroopilly) and on a train line
- Sherwood -- a nice village atmosphere, only 12 km from the city, and on a train line. Near good parks and schools.
People often say West End will be the next hot spot in Brisbane. My view is that the facilities are not as good as the above. I prefer the Southbank area to West End, as you have city and river views and face north. Most of West End faces West (e.g., see the view here.)
There are big plans for Indooroopilly and Toowong redevelopments. This will drive up prices of existing quality apartments.
But you have to be careful, as there are poor quality apartments or apartments in poor locations (i.e., on major roads) in these areas.
I recommend the following apartments and off-the-plan developments.
Off-the-plan
- Fresh Apartments in Toowong -- a resort style complex, with two pools (completion in early 2008)
- Ciana at Indooroopilly -- includes pool, restaurant and club (completion in late 2008)
- Parklands at Sherwood (completion in 2009) currently in pre-sales, includes pool
Typically, a two bedroom two bathroom apartment in these complexes is about $500,000, and will be about 85 sqm internal, and (in addition) a large balcony of about 30 sqm and airconditioned.
Example existing complexes
- Riva at Indooroopilly - river views, pool (which are always fully rented)
- Ikon at Indooroopilly, on Station Road, which is the subject of about 3 or 4 proposed new developments
- Encore at Toowong pool, close to excellent park (which are always fully rented)