Sunday, February 5, 2017
Western Suburbs Brisbane Apartments
According to this report, the 2016 market was worse than in 2013, 2014 and 2015, based on number of sales and also on total sales prices.
For example, in Indooroopilly, in 2015 a total of $130M in apartments were sold. In 2016, this dropped to $60M. In Toowong, $117M in 2015, dropped to $82M in 2016.
It seems that 2016 was a good time to buy but not a good time to sell?
The report lists the top 10 apartment sales in each suburb. With a number of new buildings reaching completion in 2017, I suspect that the top sales in 2017 will be concentrated in a few of these new buildings. For example, Aspect Property Group's Centra in Toowong has a number of apartments above $900,000 that settled in January 2017. All of these sales will be higher than the top Toowong apartment sale for 2016, which was $862,500.
When looking a new buildings, keep in mind this report -- you may be paying top dollar!
Friday, October 17, 2014
Student Accommodation and Serviced Apartments - Good Investments?
See AFR article - the type of property to be wary of
At present in Brisbane, there is an oversupply of apartments built for investors to rent to students. Rents are decreasing, vacancy rates are increasing, and there are less students looking for such accommodation. And non-students are not interested in living in or buying such apartments. Take care!
Saturday, December 29, 2012
Brisbane Rents
Post Code 4000 (Brisbane City): $585 per week
Post Code 4005 (New Farm): $530 per week
Post Code 4007 (Hamilton): $420 per week
Post Code 4101 (South Bank/ South Brisbane): $510 per week
Post Code 4066 (Toowong): $395 per week
Post Code 4067 (St Lucia): $420 per week
Post Code 4068 (Indooroopilly/Taringa): $385 per week
There is a lot of good rental information on the RTA website at: Median Rents Quick Finder
Do not use WhatRentMyHome. This "service" is operated by a real estate agency, and the information it provides is inaccurate and out-of-date, and is misleading.
Friday, October 5, 2012
Apartments v. Houses
Friday, September 2, 2011
HTW Market Update
That said, there are some suburbs that were tarnished by the flood that offer excellent value for non-flooded stock due to the overall lack of buyer confidence. For example, st Lucia has a ready source of student renters, is close to the CbD and enjoys good local services, but its riverfront areas copped a hiding in January. As a result, the dry property (and there is plenty) has also had a downturn. not too long ago, one of our valuers had a look at a two- bedroom, three-level townhouse that sold for $400,000 and will easily see $430 per week in rent. A 5.5% gross return in this location is a very nice earner indeed. ...
General market conditions across the Gold Coast are very tight. only those properties where the vendor is willing to meet the market are selling. there is generally an oversupply of similar properties listed for sale. Feedback from locals within the property industry indicate that the market may not yet have bottomed out which is concerning potential buyers. Our opinion is that we are bumping along the bottom similar to the late 1990’s and that properties will sell within a wider value range depending on the circumstances of the vendor.<
Source: HTW Report
Sunday, January 16, 2011
HiDef Aerial Photos of Brisbane 2011 Floods
Monday, July 5, 2010
The Studio at St Lucia near University of Queensland
"High demand rental areas with reasonably assured income are a safe bet and one of our tribe suggested St Lucia is a good place to park the dough. The nearby university and ready access to facilities add up to strong demand. One development is claiming a 6.5% return on a $440,000 outlay for a double studio apartment design where both tenants share kitchen facilities. It’s geared towards cashed up, overseas students willing to part with over $250 per week per studio, which could prove to be a tall order. Our advice, if you’re interested in this type of investment, is to consider all options. Second hand multi bedroom units are offering a solid return and, more often than not, better capital growth potential compared to new stock. Just make sure you talk to one of our valuers before proceeding headlong into any under researched option."
Saturday, May 8, 2010
The Studio, St Lucia
Wednesday, July 29, 2009
Brisbane School Districts
When purchasing in Brisbane, it is good to know the school catchment areas. As time goes on, more schools will be subject to a school management plan. Thus, like the USA, property values will be impacted depending on whether the apartment or house you buy is in a good or average school area. Each school has a defined catchment area. The map shows the catchment area for Indooroopilly State High, which is gaining reputation as the best high school in Brisbane -- click on the map to see a larger version.
Western Suburbs
From a Ray White Toowong newsletter:
"An interesting trend in the market has continued to grow over the last couple of weeks. There is a strong number of property sales in the $400,000 to $600,000 range. Predominantly these are apartments in the areas of Auchenflower, Toowong, Indooroopilly, St Lucia and Taringa. The majority of these sales have been made to investors looking for a safe stable place to invest their money. Many of these buyers have bought through their Super Funds..."Saturday, May 2, 2009
Brisbane Vacancy Rate
SQM has a good website to look at rental vacancy rates:
Brisbane City (4000 postcode) - 1.7%
South Brisbane area (4101) - 1.6%
Toowong (4066) - 1.4%
St Lucia (4067) - 1.5%
Indooroopilly (4068) - 1.9%
Sherwood area (4075) - 2.6%
Hamilton (4007) - 4.4%
Noosa (4567) - 2.2%
Mooloolaba (4557) - 1.3%
See also story in Courier Mail
"INNER Brisbane rents are increasing at more than 10 per cent a year, with a downturn in new apartments expected to keep vacancies tight.
DTZ Research has shown the biggest growth has been in one-bedroom units in the inner south and inner west suburbs of South Brisbane, West End and Indooroopilly, where rents have risen by up to 20 per cent.
The median rent of a one-bedroom unit in the inner south is now $420 a week, only $10 less than the CBD median price. DTZ director of project marketing Paul Barratt said the strongest growth in the next two years would be in near-city units and middle-ring suburbs with good transport."
Sunday, April 5, 2009
St Lucia - Visage and The Studio
Visage at St Lucia has sold out prior to completion. There are 26 apartments. Off the plan projects, if priced correctly, are still selling out. 2 bedroom apartments priced from $470,000. Developed by Aspect Property Group
This developer has DA to do a development within the University of Queensland grounds. Called "The Studio", this will be studio apartments for student.Brisbane Unit Auction Results
- Breeze at Indooroopilly,41/8 Belgrave Road: 3 bed, highest bid at auction was $400,000, auctioneers bid of $780,000, passed in, now listed for $900,000
- Admiralty Quays, 144/32 Macrossan Street, Brisbane, 3 bed, sold for $1,885,000
- Skyline, 62/30 Macrossan Street, 2 bed, passed in at $563,000, now listed at $600,000
- Dockside Hotel, 601/44 Ferry St, Kangaroo Point, 2 bed, no bid
- Dockside Hotel, 510/44 Ferry St, Kangaroo Point, 2 bed, no bid
- MacArthur Chambers, 104/229 Queen Street, 2 bed, 2 cars, passed in at $720,000, now listed at $790,000
- 95/260 Vulture Street, South Brisbane, 2 bed, passed in at $645,000, now listed at $675,000
- Aurora, 117/420 Queen Street, 2 bed 1 bath, sold for $395,000
- 7/146 Macquarie Street, St Lucia, 2 bed 1 bath, sold for $500,000
Friday, April 3, 2009
Toowong, St Lucia and Taringa Unit Report
"The Toowong Area unit market has seen a steady increase in median price during a five year period. Growth during this time was at a compounding rate of 9.6% per annum, with an average of 333 transactions per six month period. In the past year alone growth has climbed to register a median unit price of $410,000, equating to an increase of $43,000 or 11.7% from the previous year."
Source PRD Report from www.prd.com.au/research/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, 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)