Successful auctions across Brisbane

first_imgSellers at 11 Apple Blossom Pl, Eight Mile Plains, John and Grace Guarras were very pleased with the result. Photo: Supplied.“We’ve loved the house, the beautiful open house, but we’re at an age where we want to downsize,” said Mrs Guarras.“It has been a lovely home and we’ve always been very fussy with our homes, so the people who move in, they won’t have anything to do!”There’s also been a real buzz around the sale of 140 Kadumba St, Yeronga as a beautiful Hamptons-inspired design on a huge block of land went under the hammer. A stunning day of frenzied bidding, big crowds and brilliant results played out at auction events across Brisbane. Photo: Annette DewIt wasn’t a day for the feint hearted at the city’s auctions as crowd numbers, prices and heart rates all hit peaks.One of the biggest results was reserved for a home in the city’s southern suburbs.The property at 11 Apple Blossom Pl, Eight Mile Plains was always going to be hotly contested, but even the marketing agents were blown away by the final figure.A crowd of approximately 100 were there to witness 17 registered bidders compete for the title ¬ — freehold title, that is.While a bid of $700,000 started the ball rolling, the end price was always going to blitz it and when the hammer came down at $884,000, there were some very happy participants.“It’s a fantastic result,” declared Owen Chen, agent at Place Sunnybank.“It sold for much more than the reserve which was set at $850,000 so the owners are very happy. It was all about team work.”Mr Chen said the Japanese buyers had been to plenty of other auctions prior to today’s event.“They have been following my auctions for a long, long time but every time they have frustratingly lost to other parties, so this time I gave them a pep talk,” he said.Grace and John Guarras were very pleased to see the home sold, and are looking forward to something smaller. 4 Yeoman St, Chapel Hill was another successful sale for the day. Picture: supplied.“Everyone has their criteria when looking for a home, but this one really has it all,” said Josh Klemm, marketing agent at Ray White Metro West.He was proved right when four registered bidders fought it out to reach a sale price of $832,500 for the home.Further west and bargain of the week must surely go to 35/8 Rosegum Pl, Redbank Plains which sold for $160,000 under the hammer.The two-bedroom, lowset, brick unit has ready access to western corridor facilities, and at that price, should prove a canny investment.center_img 140 Kadumba Street, Yeronga sold for $1.91 million. Photo: supplied.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 agoThere were only three registered bidders, but that’s all it took to make the sale.“We are thrilled to declare it sold to a young local family looking to upgrade in the area for $1.91 million,” said Judy Goodger, marketing agent at Place New Farm.“Yeronga is a gorgeous and convenient location for families and time-and-time again we’re seeing huge competition when homes like this come on the market.”Further out of town and 35 Noel St, Hendra had its time in the sun.Jon Finney, agent at Ray White Albion, had five bidders registered for the event and that’s all it took to see a great result.Ray White auctioneer Haesley Cush was very pleased to oversee the auction too.“The bidding bounced from $500,000 to $600,000 and then a couple from around the corner increased the price to $700,000 and it sold,” Mr Cush said.“It was a pretty good result, and once again highlights the market is strong for unrenovated properties. The owner’s had tried to sell it themselves previously, so this shows the power of a marketing campaign and auction that creates competition. It works,” he added.Out in the western suburbs and 4 Yeoman St, Chapel Hill also successfully sold.Set on 673 square metres, this five-bedroom, two-bathroom, two-level weatherboard cottage was pitched as a family home that would have wide appeal.last_img read more

Revealed: The 10 Brisbane suburbs in which to buy property in 2020

first_imgRussell Duplock and Larissa Lawrence, with their dog, Kevin, at the investment property they recently purchased in Stafford Heights. Photographer: Liam Kidston.THEY are called the up-and-comers; suburbs that buyers may have turned their noses up at five years ago, but which now have the potential to boom. Brisbane’s housing market is ripe for investment as cheap money, buyer confidence and a lack of supply drive demand for property.Industry experts are saying now is the time to buy, so using their tips, The Courier-Mail has compiled a list of the 10 best suburbs in which to buy property in 2020.The results are based on criteria such as infrastructure, public transport, dining precincts, buyer demand, school catchments, neighbouring suburbs, capital growth and affordability.And so as not to ignite a turf war, the chosen Brisbane suburbs are a mix of north and south locations. Distance from CBD: 8km Median house price: $785,000 Carina Heights set some records last year at the entry level price range, which has pushedthe average house price higher, to $667,500, according to Realestate.com.au — not bad for a suburb that once struggled to crack an average of $600,000. “It’s the first-home buyers, the investors and, interestingly, the upsizers who have been attracted to this little pocket in the south,” independent buyer’s agent Wendy Russell said.“Knock-downs and rebuilds are on the minds of home buyers who see value in Carina Heights now that an average house in neighbouring Camp Hill will set you back a whopping $220,000 more, at an average of price of $910,000.”Ms Russell said she believed Carina Heights would continue to see the knock-on effects of being the next suburb over from blue-chip suburbs of Camp Hill and Norman Park. This five-bedroom house at 6 Birdwood Rd, Carina Heights, is for sale for offers of more than $750,000. 3. EVERTON PARK Median house price: $605,000 Number of house sales in past 12 mths: 60 1. BRIDGEMAN DOWNS Median house price: $685,000 This five-bedroom, three-bathroom house at 9 Terraldon Place, Bridgeman Downs, is on the market for offers of more than $845,000. 2. CARINA HEIGHTS Number of sales: 81 Median house price: $572,500 Median house price: $611,000 Distance from CBD: 8km Distance from CBD: 10km In Greater Brisbane the suburb of Loganholme has experienced strong growth in its median house price in recent months, according to Real Estate Institute of Queensland (REIQ) southern Brisbane zone chair Rebecca Herbst.“The attraction of Loganholme is its easy accessibility to the M1, whether you work in Brisbane’s CBD, or are heading to the Gold Coast on the weekend,” Ms Herbst said.“Lifestyle is easy, the Logan Hyperdome is close by and the houses are affordable. It is easy to pick up a nice home for between $350,000 and $450,000.”Other suburbs in Logan City that have experienced above average price growth and have further capital growth potential include Crestmead and Hillcrest.“In Crestmead, affordability is the key,” Ms Herbst said. “Where else can you pick up a three-bedroom brick home for $250,000, only 30 minutes and 30km from the Brisbane CBD?”Agent comparison site OpenAgent found Logan had some of the highest rental yields for houses, with Logan Central at 6.49 per cent.Damian Piotto of Ray White Marsden said Logan was ideal for investors, particularly those from interstate.“Entry-level housing is always appealing, especially to interstate investors when they compare local house prices — NSW in particular — and see significant value long-term,” Mr Piotto said.“Rental returns are always going to be strong with the area located right in the middle of Brisbane and the Gold Coast, great public and private schooling, and the blue-collar industry within a 10 minute drive of these areas.” This three-bedroom house at 4 Ceduna St, Loganholme, is for sale for offers of more than $345,000. 7. MANSFIELD 4. FERNY GROVE Number of sales: 204 Number of sales: 60 Distance from CBD: 9km Number of sales: 115 Distance from CBD: 13km This under-the-radar suburb was once only considered for prestige, rural residential properties, but is evolving into a solid investor option, according to ASPIRE Property Advisor Network.“Increasing rents, falling vacancies, a rising population and affordable property optionsare the gold standard when it comes to selecting promising investment locations andBridgeman Downs ticks all those boxes,” ASPIRE managing director Richard Crabb said.“Most long-term Brisbane residents probably wouldn’t think of Bridgeman Downs asan investor enclave, because it is so tightly held at approximately 85 per cent or moreowner-occupied, but this is exactly why we have pegged it as a great investmentopportunity.”Latest figures from SQM Research, a data company, show that the rental vacancy rate in Bridgeman Downs tightened from 4.5 per cent in November 2016 to 3.2 per cent in November 2019.“A combination of rising rents and tightening vacancies is a key indicator ofinvestment income growth potential,” Mr Crabb said.He said the suburb’s population had grown about 13 per cent over the past five years. Median house price: $550,000 Distance from CBD: 14kmcenter_img Median house price: $667,500 Distance from CBD: 11km Median house price: $395,000 Number of sales: 110 Distance from CBD: 13km Distance from CBD: 10km Median house price: $620,000 Keep following the train line northwest and buyers with a budget of $600,000 or less will find Keperra. Ms Russell said the flow-on effect from the suburb’s neighbour, Mitchelton, should guarantee property prices in Keperra rise this year. “Just 10km from the CBD and with the train at your doorstep, the suburb is certainly an affordable option for first-home buyers looking to enter the market,” she said. This three-bedroom house at 3 Corrigan St, Keperra, is on the market for offers of more than $525,000. 6. LOGANHOLME School catchments are all the rage in Brisbane and one of the most sought-after includes Mansfield.Ranking number 2 in the 2019 Better Education Top 100 Public High Schools inBrisbane, with a state overall score of 99, the Mansfield State High School catchment has become a hot spot for families.Property Club president Kevin Young said homes in good school catchments could command an extra 10 per cent weekly rent, compared with suburbs outside the catchment area.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago“The focus on property buyers moving forward is to identify new investment in schools that will boost demand for homes in the local area,” Mr Young said.“With the start of a new school year, it is timely that property buyers in Queensland start to target areas where government is going to invest significant amounts of money in new educational facilities, which will boost the future demand for housing in these areas.” This three-bedroom, two-bathroom house at 25 Cornflower St, Mansfield, is for sale. 8. OXLEY Median house price: $625,000 Number of sales: 112 Number of house sales in past 12 mths: 137 Distance from CBD: 29km Let’s not forget Brisbane’s southwest, where one suburb to watch is Oxley. A train ride from Oxley Station to Brisbane Central takes about 27 minutes and with an average house price of $572,500 it should be on the watch list for first-home buyers and investors. “With neighbouring house prices up to $360,000 more (Corinda, $787,000, Sherwood, $932,500 and Graceville, $912,000), Oxley has the recipe for growth as an outlyingsuburb on the train line with an affordable entry price for homebuyers,” Ms Russell said. This four-bedroom house at 5 Turnberry Close, Oxley, is on sale for $515,000. 9. STAFFORD HEIGHTS If you haven’t checked out the newly opened ‘foodie laneway’ — Everton Plaza’s Park Lane, you’re missing out.Described as the foodie epicentre for northsiders, Everton Park has hit the mark when it comes to attracting those who enjoy the café/foodie lifestyle, but don’t want to head intothe city to get it. Ms Russell said lifestyle suburbs attracted home buyers and renters.“Keep an eye on this little northside suburb because at an average house price of $605,000, it will undoubtedly attract the attention of investors and first-home buyers in 2020,” she said. This four-bedroom house at 14 Stromlo St, Everton Park, is for sale for offers of more than $599,000. Stafford Heights popped up on the radar of buyers in 2019 because of its affordability and accessibility.“With an average house price of $611,000 it’s hard to pass up this suburb as an alternative to the more expensive neighbouring areas of Kedron and Gordon Park that had their day when the M6 Tunnel opened,” Ms Russell said.She said the suburb’s proximity to Prince Charles Hospital and Westfield Chermside Shopping Centre made it appealing, along with the fact it was flood-prone.“Stafford Heights could very well be in for continued growth in 2020 with so many ticks against it’s name — affordable, accessible and it doesn’t flood,” Ms Russell said.Russell Duplock and Larissa Lawrence recently bought an investment property in the suburb through Ms Russell.“We liked the general feel of Stafford Heights,” Mr Duplock said. “There are a lot of young families in the area and a lot of property renovations happening too.”Mr Duplock said the property was in a good school catchment and close to shops and restaurants, which he hoped would support capital growth.“I feel Stafford Heights in the next couple of years is going to go well, considering it’s still affordable,” he said.The couple also had no trouble leasing the property.“We had four applications from the first open home and had it rented two days after, so plenty of interest,” Mr Duplock said. This three-bedroom, one-bathroom house at 335 Webster Rd, Stafford Heights, is on sale for offers of more than $515,000. 10. WYNNUM Ferny Grove has experienced a 23 per cent rise in views per home listing on Realestate.com.au, a property listings website, over the past quarter as buyers start to realise its potential. Realestate.com.au chief economist Nerida Conisbee said the suburb was well catered for when it came to schools and parkland. “It also has a train station, which is popular with buyers,” Ms Conisbee said. “With a median of $620,000 it is a bit more affordable and is a price point that is appealing to investors.” This six-bedroom house at 70 Falconglen Place, Ferny Grove, is for sale for offers of more than $769,000. 5. KEPERRA Number of sales: 95 Number of sales: 10 The bayside suburb of Wynnum offers lifestyle, infrastructure and affordability. InSynergy chief property investment advisor Richard Sheppard said investors should consider the middle and outer rings of Greater Brisbane for houses, because the boom had largely started in the inner-ring housing suburbs and was rippling its way out.Mr Sheppard said Wynnum, and the neighbouring suburbs of Manly and Lota, had strong market fundamentals that would underpin property price performance in the years ahead.“That’s because, not only are they in the middle to outer ring areas, they offerlifestyle while also being close to new and expanding infrastructure like the airportand port, as well as road upgrades that will improve access to the CBD,” he said. This three-bedroom house at 8 Madgwick St, Wynnum, is on the market for offers of more than $565,000.last_img read more