Category Archives: Brisbane News

Brisbane property prices go into overdrive as investor demand surges – Financial Review

Brisbane property prices go into overdrive as investor demand surges – Financial Review
Investors from near and far have shifted Brisbane property prices up a gear, as the number of suburbs gaining double-digit growth in the Queensland capital has nearly doubled over the past six months.
McDowall in the city’s north (16 per cent growth in unit prices), Durack in the south (13.6 per cent growth in houses) and Murarrie in the east (where apartments have jumped 18.1 per cent over the past 12 months), have had their rate of price growth speed up sharply since the start of the first half of the year, real estate agency PRD Nationwide says.
In some cases, the turn around is dramatic. Six months ago, units in the inner south-eastern suburb of Coorparoo were falling at a rate of 6 per cent. Now they are growing at a rate of 10.7 per cent.
Six months ago, only 18 of Brisbane’s 195 suburbs were experiencing price growth in double-digit figures. That has increased to 35, PRD Nationwide’s latest Brisbane Hotspots report shows.
Investors from near and far have shifted Brisbane property prices up a gear, as the number of suburbs gaining double-digit growth in the Queensland capital has nearly doubled over the past six months.
McDowall in the city’s north (16 per cent growth in unit prices), Durack in the south (13.6 per cent growth in houses) and Murarrie in the east (where apartments have jumped 18.1 per cent over the past 12 months), have had their rate of price growth speed up sharply since the start of the first half of the year, real estate agency PRD Nationwide says.
In some cases, the turn around is dramatic. Six months ago, units in the inner south-eastern suburb of Coorparoo were falling at a rate of 6 per cent. Now they are growing at a rate of 10.7 per cent.
Six months ago, only 18 of Brisbane’s 195 suburbs were experiencing price growth in double-digit figures. That has increased to 35, PRD Nationwide’s latest Brisbane Hotspots report shows.
It was a big change for a city in which annual price growth had normally been between 3 per cent and 5 per cent,” and maybe 7 per cent if you’re lucky”, PRD Nationwide’s national research manager Asti Mardiasmo, said.
“Whether it’s inner western, eastern, what have you, there are now suddenly all these suburbs that have double digit growth that they’ve never seen before,” Dr Mardaismo said. “It’s kind of going nuts.”
The Real Estate Institute of Queensland on Wednesday said the median Brisbane house price had jumped to $610,000 in the June quarter, after hovering around the $600,000-level for some quarters.

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Brisbane Property Market

The signs look good for the Brisbane property market in 2016. And according to Ryder, “a lot of the momentum is on the southern side”.

The Logan LGA includes Logan Central, Loganlea and Yarrabilba. Ryder argues the area ticks all relevant infrastructure and transport boxes needed for likely capital growth and is a convenient mid-point between Brisbane and the Gold Coast – both of which are seeing some of the country’s biggest population booms.

Another of Ryder’s Brisbane recommendations is the Redcliffe Peninsula, which includes the suburbs of Redcliffe, Clontarf and Woody Point.

Earlier last year, major earthworks finally began on the long-delayed Moreton Bay Rail Link, a 12.5km long dual-track heavy gauge rail link that will connect Petrie to Kippa-Ring with stations at Kallangur and Mango Hill among others. It’s due for completion later next year.

“The Redcliffe Peninsula has always been appealing for lifestyle reasons, and now it’s also appealing to investors,” says Ryder.

Population growth in the Moreton Bay region is also encouraging. According to the Queensland government more than 375,000 people call it home, and that figure is set to exceed 500,000 over the next 15 years.

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Queensland Government formally adopts Queen’s Wharf Brisbane PDA development scheme – Urbanalyst

The Queensland Government last week said Brisbane is set for a massive jobs boost following the formal adoption of the development scheme for the renewal of the Queen’s Wharf Brisbane Priority Development Area (PDA).

The $3 billion Queen’s Wharf Brisbane Integrated Resort Development will deliver a world-class tourism, leisure and entertainment precinct for Queensland.

Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad said the Queensland Government, developed the scheme which will support up to 2,000 jobs during construction and 8,000 ongoing jobs.

“This development will transform and rejuvenate the under-utilised south-western edge of the Brisbane CBD, attract significant investment to the city and most importantly, create jobs for Queensland families,” Ms Trad said.

The Queen’s Wharf Brisbane Priority Development Area development scheme provides the planning framework for the assessment of the Destination Brisbane Consortium proposal.

Public submissions to the development scheme supported the area redevelopment, the Government’s commitment to sub-tropical design and heritage protection and the delivery of improvements to the pedestrian and cycling network in the Priority Development Area.

“We invited the community, residents, and business operators to view the proposed development scheme and we received 37 written submissions,” Ms Trad said.

Queen’s Wharf Brisbane was declared a Priority Development Area on 28 November 2014 to facilitate the planning and delivery of an integrated resort development including a casino and other related development on the site.

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Ipswich continues to be property hot spot – The Queensland Times

The REIQ Rental Report has revealed an easing of the vacancy rate in Ipswich from 1.3% to 2.5% over the last quarter.

REIQ chief Antonia Mercorella said the December quarter was historically high and then traditionally dropped again in January. She said Ipswich continued to be a great market for investors and first home buyers.

“Ipswich has been a very good market for investors, with good rental returns of up to 6% in some cases,” she said.
“It is clear the demand for rental accommodation is steady and the population growth is driving that demand.”

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Brisbane property prices go into overdrive as investor demand surges – Financial Review

Investors from near and far have shifted Brisbane property prices up a gear, as the number of suburbs gaining double-digit growth in the Queensland capital has nearly doubled over the past six months.

McDowall in the city’s north (16 per cent growth in unit prices), Durack in the south (13.6 per cent growth in houses) and Murarrie in the east (where apartments have jumped 18.1 per cent over the past 12 months), have had their rate of price growth speed up sharply since the start of the first half of the year, real estate agency PRD Nationwide says.In some cases, the turn around is dramatic. Six months ago, units in the inner south-eastern suburb of Coorparoo were falling at a rate of 6 per cent. Now they are growing at a rate of 10.7 per cent. Six months ago, only 18 of Brisbane’s 195 suburbs were experiencing price growth in double-digit figures. That has increased to 35, PRD Nationwide’s latest Brisbane Hotspots report shows. Investors from near and far have shifted Brisbane property prices up a gear, as the number of suburbs gaining double-digit growth in the Queensland capital has nearly doubled over the past six months.

McDowall in the city’s north (16 per cent growth in unit prices), Durack in the south (13.6 per cent growth in houses) and Murarrie in the east (where apartments have jumped 18.1 per cent over the past 12 months), have had their rate of price growth speed up sharply since the start of the first half of the year, real estate agency PRD Nationwide says.

In some cases, the turn around is dramatic. Six months ago, units in the inner south-eastern suburb of Coorparoo were falling at a rate of 6 per cent. Now they are growing at a rate of 10.7 per cent.

Six months ago, only 18 of Brisbane’s 195 suburbs were experiencing price growth in double-digit figures. That has increased to 35, PRD Nationwide’s latest Brisbane Hotspots report shows.

It was a big change for a city in which annual price growth had normally been between 3 per cent and 5 per cent,” and maybe 7 per cent if you’re lucky”, PRD Nationwide’s national research manager Asti Mardiasmo, said.

“Whether it’s inner western, eastern, what have you, there are now suddenly all these suburbs that have double digit growth that they’ve never seen before,” Dr Mardaismo said. “It’s kind of going nuts.”

The Real Estate Institute of Queensland on Wednesday said the median Brisbane house price had jumped to $610,000 in the June quarter, after hovering around the $600,000-level for some quarters.

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Brisbane “best bet” for capital growth

One of the biggest banks in the country has picked Brisbane as the best city for capital growth this year, with Queensland also emerging as one of two states to see higher-than-average house price growth.

The latest National Australia bank Residential Property Index tipped Queensland and Victoria as the most optimistic markets, with house prices to rise 2,1 per cent in Queensland and 2.2 per cent in Victoria, compared to a pared-back national average of about 1.5 per cent.

NAB chief economist Alan Oster said that Brisbane was the best city for capital growth this year (5.7 per cent), followed by Sydney (4.1 per cent) and Melbourne (2.7 per cent).

The NAB survey had some bad news for renters though, with rental growth expected to be strongest in Queensland and Victoria this year.

Southern investors are buying up investment properties in Brisbane fueling the recovery in the city’s property market in a bid to get more value for their dollar.

With prices booming in Southern capitals and forcing out house hunters, Sydneysiders and Melbournites are turning attention north and splashing the cash on Brisbane investment properties.

Real Estate institute of Queensland say the interstate investors are leading the recovery in the Brisbane property market as they embark on shopping spree through our sought after suburbs.

Real Estate Institute of Queensland chief executive Anton Kardash said investment from interstate and overseas had been a “significant proportion” of the recovery in Brisbane’s market.

“The investor market has been the one, particularly in the sub -$400,000 range, that’s really been keeping the market very much alive over the last probably 18 months,” he said.

He said despite moving into a “Growth phase”, there was still “very good buying” for investors across the south east corner of Queensland.

“South Brisbane rents are the best for a blue-chip suburb anywhere in Australia,” Positive Real estate chief executive Sam Saggers said. Yields are pressing 6.5 per cent if you buy well.

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