Is Wavell Heights the next hit suburb?

first_img14 Kinmond Ave, Wavell Heights sold at auction for $1.646 million.MOVE over Clayfield and Ascot, Wavell Heights is the new hit suburb with buyers seeking homes close to inner-city Brisbane.Today’s auction of a 1908 Queenslander on 1715sq m of land at 14 Kinmond Ave, Wavell Heights drew a crowd of around 100 people and 13 registered bidders.The iconic ‘Noora’ estate sold under the hammer for $1.646 million but Ray White Ascot’s Rosemary Ahearn said interest was due to more than just the property’s wonderful features.“I consider Wavell Heights to be the next suburb on fire, it already is,” she said.“There’s been huge movement in the bottom section of the market and that’s filtering through.”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 ago14 Kinmond Ave, Wavell HeightsMs Ahearn said Wavell Heights, only 9km from the CBD, had always been a quality suburb.“There are 27 hills in Brisbane and Wavell Heights has all the old original homes with that lovely tree ambience,” she said.Today’s buyers were a couple with children seeking a larger property. “It’s just so hard to get the big blocks anymore because everything has been subdivided,” Ms Ahearn said.“We are delighted that it’s somebody who intends to keep the block as one and who values that old-fashioned large block and the ambience of that.”The median house price in Wavell Heights is $648,500, according to researcher CoreLogic.last_img read more

Gold Coast gem has plenty of room for everyone to enjoy their own private sanctuary

first_img7 Istana View, Clear Island Waters.OVERLOOKING a tranquil canal in Clear Island Waters is this two-storey “grand enclave”.The residence on Istana View has six bedrooms and a sprawling sense of space.Timber finishes and plantation shutters combine with high ceilings and wrought-iron features to create a contemporary setting.7 Istana View, Clear Island Waters.Ray White Broadbeach marketing agents Sam Guo and Julia Kuo describe the property as the Gold Coast’s “best-kept secret”.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North8 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“Whether it be for your growing or extended family, or to comfortably accommodate guests, this is a property which facilitates easy living on a large scale,” Guo said.“With multiple living spaces and six ensuited bedrooms over two impressive levels, there truly is ample room for everyone to enjoy their own private sanctuary.”7 Istana View, Clear Island Waters.There are a range of living spaces inside and outside, with the lounge offering a seamless flow to the covered alfresco terrace.The main bedroom stands out with its luxurious fittings, wide water views from the balcony plus a dressing room and ensuite with spa.“The remaining bedrooms are all generously sized and enjoy their own private bathrooms, with bedroom six also featuring direct access to its own secure garage and courtyard,” Guo said.The property has 27m of water frontage, an infinity-edge pool, pontoon and gardens.7 Istana View, Clear Island Waters.last_img read more

O’Shea Esplanade home at Machans Beach a beachside delight

first_img145 O’Shea Esplanade, MACHANS BEACH. For Sale by Marsh Property.A SHIFT to cooler climes has provided an opportunity to own a slice of paradise at Machans Beach.Graham Burridge and Melissa Lovejoy have made the bright and airy waterfront beach house at 145 O’Shea Esplanade their home for the past nine years.After 25 years in Australia’s north they now have plans to retire to Tasmania and run a luxury AirBnB.The couple had their eye on the three-bedroom, two-bathroom house two years before they bought it.“We’d lived in another street in Machans and fell in love with whole community spirit and fact here’s no high-rises and no tourism as such so it stays quiet,” Mr Burridge said.“We fell in love with it when we moved into Machans but couldn’t afford it. “We walked by it all the time looking at it with jealousy I suppose.“My wife said to me that some day it would come on the market and we will be able to afford it and sure enough it did.” Extensive renovations converted the tiny front deck and bedroom into a sprawling veranda taking in the vast expanses of the Coral Sea, rejuvenated the kitchen and added a third bedroom.Mr Burridge said renovations were completed in February this year by local tradespeople.More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days ago“The location is brilliant. You’re far enough from the ocean you don’t get too much splash in storms or cyclones but you are close enough to just walk on over the road to the water,” Mr Burridge said. “The front is where you want to be. We’ve had many dinner parties sitting on the front deck watching the lights of ships going by out at sea.“When we renovated we made sure the front rail was just high enough to lean against with a cold drink and a bowl of peanuts, looking at the view.”On the rare occasion the weather turns bad, a deck out the back near the pool can fit up to 20 people around a sizzling barbecue.Marsh Property sales agent Chris Marsh said the idyllic location would suit couples or families with small children or teenagers. “A bedroom downstairs with an ensuite can be accessed across an indoor pond via a timber walkway and offers separate external ground- level access,” he said.“This area offers flexible options for grandparents, teenagers or AirBnB visitors.”A huge master bedroom with walk-through robe and a generous downstairs lounge area have also been cleverly renovated and redesigned to retain the original cottage feel.“But there has been little compromise on modern creativity and it will provide everything a buyer is looking for,” Mr Marsh said.“The home is also air conditioned, features a dedicated study, established tropical gardens and a large chook pen.“Be prepared to fall in love with one of our favourite properties ever.”last_img read more

Close call on tough negotiations

first_imgAuctioneer and agent Alistair Macmillan works the crowd to try and secure a sale. Photo: Mark Cranitch.Mr Macmillan said the sellers were interstate and found it too hard to buy in Melbourne in 2008.Their solution was to instead get a piece of Brisbane, and take advantage of the equity gain when the time was ripe.One potential buyer, Sydney Milton, was hoping to become a first-time homeowner in the area.More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoHe’s looking for an entry level holding that’s north of the river and close to the CBD, but they’re not easy to find.“It is hard work. I’ve done a lot of research and there’s just not much around so you’ve got to be patient,” Mr Milton said. Tough negotiation skills were on display at the auction of 28 Grove St, Albion today. Photo: Mark Cranitch.It’s been advertised as a magnificent opportunity in an inner-city suburb, but all parties stood their ground at today’s auction of 28 Grove St, Albion.The house has all the makings of a great entry-level prospect in a blue-chip position.It’s a 405 square metre lot improved with a mid-set, timber-and-tin workers cottage — a classic design for the suburb. The home is comfortable enough to live in straight away, but there’s heaps of opportunity to renovate and gain more equity.Before the event, agent and auctioneer Alistair Macmillan of Ray White Wilston was excited by the interest.“We had over 70 inspections of the property in four weeks,” he said.“If you’re a buyer and you want to get close to the city in a house on a block of land sub-$850,000, they’re few and far between.” The audience is raring to go at 28 Grove St, Albion. Photo: Mark Cranitch.The crowd of approximately 30 filled the front yard with nine registered bidders all ready to go.An opening offer of $500,000 wasn’t going to last long and with bids at $50,000 increments, it only took a moment for three very active parties to reach the $750,000 mark.Things started to slow and once the price reached $800,000, Mr Macmillan was on the phone to the out-of-town owner to seek instructions.A bit of to-and-fro ensued and the auction was reopened with highest bidder, Patrick Daniels, raising his offer to $805,000.It still wasn’t enough and the home was declared ‘passed in’.Mr Daniels said he’s keen on the area at the right price, although house hunting isn’t his favourite was to spend his days off.“A bit painful to be honest. Giving up your weekends to come and do this isn’t my idea of fun.”Mr Daniels said if he did eventually buy the home, he’d happily live in it while considering options for adding value in the future.As at the time of publication, the property has been relisted on for $839,000.last_img read more

A grand plan to renovate led to a complete rebuild for this Paradise Waters home

first_img8 midshipman court, Paradise Waters.AMANDA and Pieter Koppen purchased 8 Midshipman Court with a grand plan to renovate the existing old house.Two years after first stepping on the 764sq m waterfront land with a hammer and hope, the couple is celebrating the completion of their first residential build.8 Midshipman court, Paradise Waters.“It was just going to be a renovation but because of the steepness of the block and where the old house was positioned, it wasn’t going to be a good family home,” Ms Koppen said.“My husband said: ‘We’ll knock this down, flatten it and start brand new’. The only thing left standing was part of a shell of the garage.”Mr Koppen works in the construction industry and relied on his experience to control every step of the plan, from design to colour selection.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North7 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago8 midshipman court, Paradise Waters.“When you’re watching the process, especially starting with nothing, it feels like it’ll never end,” Ms Koppen said. “It’s about trusting the process.”The project took longer because of the care poured into every detail, according to Ms Koppen.“Our heart is in this whole property,” she said. “We wanted only top quality throughout the whole house and didn’t ever want anything but the best.”8 midshipman court, Paradise Waters.Each of the five bedrooms has its own bathroom, every window and door is double-glazed, Miele appliances feature in the kitchen, while marble and American Oak cover the floors.Ms Koppen said the open-plan living design was ideal for families.“No matter where I am sitting, I can see the kids,” she said.8 Midshipman court, Paradise Waters.Tucked behind Surfers Paradise, the Paradise Waters environment is constantly changing.“We can watch the tide with the fish jumping but the next minute, it’s nice soft sand for the kids to run up and down along.”“It’s so beautiful and I know the house is going to make a family so happy,” Ms Koppen said.last_img read more

Chirn Park cottage has been transformed to adopt a Hamptons-style

first_img26 Geoffrey Ave, Southport.THIS Southport home was the perfect place to adopt a Hamptons-style according to homeowner Marcia Alexander.“My husband and I came across the Chirn Park area about three years ago when it was still coming-to-age but now it is a super trendy pocket in Southport,” Mrs Alexander said.“We thought it was a perfectly undiscovered place and we could easily picture creating a coastal Hamptons-style. 26 Geoffrey Ave, Southport.“My favourite addition are the decks, we spend a lot of time outside,” The mother-of-one said.“If we aren’t sitting on the deck we are walking to the cafes or down to the Broadwater.”The Chirn Park cottage includes stone benchtops and blackbutt timber flooring.A freestanding bathtub adds a touch of luxury in the bathroom while timber features and botanicals bring the home to life. “The main bedroom is one of the most relaxing places, it has its own private balcony and its high up because of the split-level design,” Mrs Alexander said. The property is within walking distance to cafes and schools. 26 Geoffrey Ave, Southport.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North6 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoMrs Alexander said the original home had salmon pink shag-pile carpets and 80s-era wallpaper. The couple said they transformed the home in eight months. “We lived in it for a while to get a feel of how the spaces worked and this year we decided to create our dream Hamptons style,” Mrs Alexander said.The freshly-renovated home is poised on an elevated block in Chirn Park and features two big timber decks.center_img 26 Geoffrey Ave, Southport.“The suburb wasn’t as popular as it is now, we are lucky we can walk to the cafes because getting a park is almost impossible on a Sunday morning.”“It was important for us to live close to the M1 because we travel for work to Brisbane a lot but we wanted a suburb that had a bit of charm too.”last_img read more

Home on the mountain range has breathtaking 180 degree views that have to be “seen to be believed”

first_img905e Main Western Rd, Tamborine Mountain.Mrs Swain said when she has guests over they start at one end of the property and gradually make their way through. “We start in the alfresco in the morning and we end at the pool by the end of the day.“We can follow the sun right through the house.”While the home oozes sophistication with a flair of Asian influence, the backyard is the real show stopper. 905e Main Western Rd, Tamborine Mountain.Mrs Swain described the property as something you have to see to believe. “Every day the views are just a little bit different,” she said.“The cloud formations over the valley in the morning makes it feel like you’re waking up and looking out of a plane window.” 905e Main Western Rd, Tamborine Mountain.Inspired by Mrs Swain’s childhood in Malaysia, the home embraces tranquillity, nature and, as she describes, inner peace. More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North6 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoRaw materials are showcased in the interiors with stone, timber and glass. Soaring 3m ceilings and wide hallways create a sense of space. 905e Main Western Rd, Tamborine Mountain.A fish pond surrounds the alfresco area while a larger pond creates a garden feature. “It has a contemporary Asian style,” Mrs Swain said. “When we were designing it, our brief to the builders was to have a home with a view from every room. “It had to be free-flowing but still private and most of all the home had to have multiple areas to entertain our guests.” 905e Main Western Rd, Tamborine Mountain.“We live on a bit of a cliff hanger, the backyard ends and then drops down to the valley,” she said.“I always tell my husband he should have been a landscape architect because he has created a magnificent space out of the land.” 905e Main Western Rd, Tamborine Mountain.The 4.815ha property commands a 180- degree mountain range view and is situated 435m above sea level. “Driving home is the best part — it has been more of a retreat for Richard and I,” Mrs Swain said. 905e Main Western Rd, Tamborine Mountain.THE view from this mountain home is guaranteed to take your breathe away. Ballet teacher Suzanne Swain and her husband Richard bought the block in 2010. Two years later the couple created a home that isn’t just surrounded by nature, but brings it inside. “We were previously living at Sanctuary Cove and we loved it there but we were craving nature,” Mrs Swain said.“When we found the block we fell in love with the views.” last_img read more

Helipads are all the rage in Queensland dream homes

first_imgThis $2.7 million Mission Beach luxury home at Altitude One40 has its own grass helipad. Picture: bargain of the lot was a five-bedroom house at 1 Haas Street, Bli Bli – known locally as the Bli Bli mansion. It has had a $100,000 price reduction since May to now sit at $1.5m.The property was a motoring enthusiast’s dream, with its own concrete helipad and a seven bay parking building that has its own fuel pump, according to agent Jason Mills of Ray White Maroochydore. Foget the Tesla or a speedboat, the ultimate status symbol is still a helicopter pad in prestige Queensland homes priced from as low as $1.5m.According to agents, helipads were favoured by those without room for a special runway for small planes or people who preferred heli-transfers to long commutes or transfers.Prestige homes blessed with the convenience of a helipad were priced from as low as $1.5m, according to listings on The $5.7 million home 430 Sunrise Rd, Tinbeerwah, has a grass helipad along a path to the tennis court. Picture: from newsMould, age, not enough to stop 17 bidders fighting for this home1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor1 hour ago“If you’re lucky enough to own a helicopter, the helipad and adjoining hangar facilities will cater for your aviation requirements.”The next price level up was a four bedroom dream home at AltitudeOne40 in Mission Beach, which was on the market for $2.7m.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:45Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:45 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenSummer Dream Home: Currumbin01:45 Related videos 01:45Summer Dream Home: Currumbin01:34Paradise for sale…01:16Dream home: Broadbeach Waters01:33Dream Home: New Farm01:36Dream Home: Brookfield01:00Mermaid BeachAgent Peter Stone of Real Estate of Distinction Sawtell had it as a stunning residence on a kilometre-long block backing onto a World Heritage Rainforest, with a designer home that has extensive views to the Great Barrier Reef.This private helipad was on grass 140 metres above sea level, part of the charm of a place looking to “set the standards to which all other luxury executive retreats aim”.“As the sun sets each evening, you can watch from the pool deck high above Mission Beach as Dunk, Bedarra and Hinchinbrook Islands melt into the azure sea and the tranquillity of the rainforest envelopes you.”center_img Coming into land at the $2.7 million Mission Beach luxury home at Altitude One40. Picture: the higher price helipad homes was 430 Sunrise Road, Tinbeerwah, marketed as “the ultimate Noosa hinterland estate”. The six bedroom, six bathroom, quadruple garage home was priced at $5.7m.The 35 ha (88 acre) property, named Cintamani by the owners, has stunning views along the Noosa coastline, according to agent Tom Offerman of Tom Offerman Real Estate.“There’s a true sense of arrival as you drive pass by the helipad and grand slam championship tennis court and then step from your car under the porte – cochere, complete with it’s magnificent fountain.”The vehicle commute from Cintamani to Brisbane was about 90 minutes, something a helicopter would definitely make short work of.last_img read more

Queensland’s million-dollar suburbs triple: Look who’s joined the club

first_imgThis home on a large block with a tennis court at 56 Victoria Ave, Chelmer, is for sale.It’s good news for Kathy and Rod O’Connell, who are selling their home of 27 years in million-dollar club member, Chelmer.The suburb, which is 7km west of Brisbane’s CBD, has a median house price of $1.05 million, but the O’Connell’s home at 56 Victoria Avenue is likely to fetch much more than that.The five-bedroom, turn-of-the-century Queenslander on a massive 2704 sqm block has a swimming pool, tennis court and character features such as 14ft ceilings, decorative timber fretwork and an ornate fireplace. Rod and Kathy O’Connell at their Chelmer home. Picture: AAP Image/Claudia Baxter.IF you happen to live in one of these suburbs, congratulations – you’re part of Queensland’s burgeoning millionaire’s club.The number of suburbs with million-dollar medians has more than tripled in the state in just three years, according to the latest data provided exclusively to The Courier-Mail from property analytics company CoreLogic.There are now more than 30 suburbs in Queensland with a median house price of $1 million or more, compared to just nine suburbs in the middle of 2014.And there are another 22 so-called “bridesmaids” — suburbs with median house prices of $900,000 or more — nipping at their heels. Kalinga now has a median house price of $1 million. Picture: Mark Cranitch.The tiny, tightly-held pocket of Kalinga, 7km north of Brisbane’s CBD, is the newest suburb in the state to crack seven digits.Kalinga, which only officially became recognised as a suburb in 2015, now boasts a median house price of $1 million thanks to a number of big sales this year and increasing demand for Brisbane’s inner northern suburbs.“Overall the Brisbane market’s not necessarily that strong, but some of those blue chip areas in the inner north seem to be quite strong at the moment with lots of demand, and that’s pushing up prices,” CoreLogic research analyst Cameron Kusher said. REA Group chief economist Nerida Conisbee.Ms Conisbee said Townsville was starting to see a recovery from the mining downturn and the city’s premium suburbs were beginning to attract buyers.“People think it’s probably at the bottom of the cycle now,” she said.Three years ago, the only suburbs in Queensland sitting on median house prices above $1 million were Ascot, New Farm, Chandler, Teneriffe, Hamilton, Surfers Paradise, Sunshine Beach, Hawthorne and Bulimba. MILLIONAIRE ‘BRIDESMAIDS’Brookfield $992,500Auchenflower $990,000Runaway Bay $970,500Castaways Beach $965,000Rochedale $958,000Castle Hill $955,000Alexandra Headland $952,500Yeronga $942,500Upper Brookfield $940,100Carbrook $940,000Noosaville $940,000Kangaroo Point $935,000Taringa $935,000Willow Vale $930,000Gumdale $930,000Shelly Beach $917,500Milton $915,000Currumbin Valley $910,000Grange $904,000Bardon $903,000Noosa Heads $900,000Ashgrove $900,000(Source: CoreLogic) CoreLogic research analyst Cameron Kusher.“Interstate migration is picking up in southeast Queensland and people coming from Sydney are seeing what you can get for your money (in Brisbane’s inner north).” REA chief economist Nerida Conisbee agreed, noting Kalinga was the second most in-demand suburb in Queensland on in the past six months.The state’s most expensive suburb continues to be Teneriffe, with its median house price jumping a massive 122 per cent in three years.Teneriffe is now on the cusp of becoming Queensland’s first ever $3 million suburb, sitting at $2.62 million. Penfold Property Group has significant greenfield land holdings in Pallara and surrounding suburbs.First National Metro agent Michael Hatzifotis said prices in the suburb had gone through the roof after a recent rezoning.“Not many people know about it,” he said.“Some people ring me up and don’t realise how expensive it is out there now.” Mr Hatzifotis said many buyers were keen to landbank because there was little land left in Brisbane with industrial zoning close to the CBD.“That’s the end goal for a lot of these people,” he said.“They’re looking to hold on to it, wait for it grow in value and then subdivide and sell it off.” The view over Townsville from Castle Hill. Photo: Lindsay Button.Castle Hill in Townsville, Alexandra Headland on the Sunshine Coast and Grange in Brisbane’s inner-north are among the next wave of “bridesmaid” suburbs waiting to join the million dollar club.Castle Hill’s median house price currently sits at $955,000, having risen 11 per cent in 12 months, and REA chief economist Nerida Conisbee expects it to hit seven figures very soon. QUEENSLAND’S NOD TO THE HAMPTONS HOUSE PRICE DROP WARNING HOMES MADE FOR CRICKET LOVERS This home at 56 Victoria Ave, Chelmer, is for sale for the first time in 27 years.Mrs O’Connell said the home was on one of the few large blocks of land left in Chelmer, as many of the tennis courts in the suburb had been sold off and developed.“We’re really going to miss the tennis court,” she said. “That was the main reason we bought the house, so our boys could play tennis and keep them out of trouble.”More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoThe property is scheduled for auction on December 9 through Jason Adcock of Adcock Prestige.Mrs O’Connell said Chelmer had a community-feel and its tree-lined streets were close to good schools, a train station, parks, shops and restaurants.QLD’S MILLIONAIRE SUBURBS – DOES YOURS MAKE THE CUT?Suburb Median house priceTeneriffe $2.62mSouth Brisbane $1.6485mNew Farm $1.575mMermaid Beach $1.52mMain Beach $1.5125mPallara $1.51mAscot $1.47mSurfers Paradise $1.3875mChandler $1.325mSt Lucia $1.2835mBulimba $1.26mFig Tree Pocket $1.2mWilston $1.2mClear Island Waters $1.195mHighgate Hill $1.188mSunshine Beach $1.15mClayfield $1.135mHawthorne $1.125mWest End $1.1225mSpring Hill $1.1mPullenvale $1.085mBroadbeach Waters $1.08mHamilton $1.08mParadise Point $1.05mBundall $1.05mChelmer $1.05mSamford Valley $1.04mBalmoral $1.0275mHendra $1.01mRobertson $1.005mKalinga $1mPaddington $1m(Source: CoreLogic) This huge house at 52 Henry St, Kalinga, recently sold for $1.9 million. Teneriffe is Queensland’s most expensive suburb with a median house price of $2.62m.Ascot, New Farm, Hamilton, Bulimba and Hawthorne have all retained their spots on the elite list, but some of the newer suburbs are not your usual suspects.The outer suburb of Samford Valley, 20km from Brisbane’s CBD, is also in the million dollar club with a median house price of $1.04 million – up 16 per cent in 12 months. Mr Kusher said it classified as a “lifestyle” suburb similar to Pullenvale and Chandler. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE He said appetite for big properties on acreage was also spreading to the Gold Coast, with suburbs like Currumbin Valley now boasting a median house price of $910,000.The little known suburb of Pallara, 13km from Brisbane’s CBD, is one of the biggest surprises, with its median house price jumping a massive 47 per cent in just 12 months to $1.51 million.last_img read more

Brisbane yields to draw investors

first_imgBrisbane is expected to continue to see good rental yields for investors. Picture: numbers seem to have fallen off a cliff in southern capitals but Brisbane was expected to buck the trend, according to latest expert analysis.Rental yields in Brisbane – calculated as rent divided by price – have continued to outperform Sydney and Melbourne when it comes to both houses (4 per cent) and units (4.9 per cent), adding to its allure for investors, according to Nerida Conisbee, chief economist of the REA Group.“One factor keeping yields high in Brisbane has been that prices haven’t risen quite as much as Sydney and Melbourne,” she said. “In 2018 we expect investors to continue to look at Brisbane favourably primarily because there seems to be rising rental demand and pricing is far more reasonable.”More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours agoShe said it was likely that rental yields would rise this year.“There are a few things driving this. The first is that prices are expected to remain relatively stable. A big factor driving yields downwards is rising prices and we don’t expect prices to rise as strongly in 2018.“The second is we expect far fewer rentals to enter the market this year – this is because we have now come to the end of a strong run in investor demand. We expect fewer investors in the market this year because of difficulties in accessing finance, changes to many of the incentives to invest, as well as changing sentiment towards housing.”Ms Conisbee warned that since Brisbane has had such a strong apartment development boom, “I can’t see strong rental growth for apartments”.“Houses however are another matter – they will definitely outperform apartments in 2018.”Her picks for good rental yield in Brisbane this year? “We can see on our site that the most in demand suburbs from renters for houses are Fortitude Valley, Windsor and New Farm. If I was looking to buy a rental property in Brisbane I would be looking at houses in those suburbs.”last_img read more