Wednesday 31 August 2022

Historic hinterland pub for sale along with modern boutique hotel could fetch $20million

An historic hinterland pub that is 111 years old and once boasted the ‘best meals on the North Coast’ is for sale — ghosts and all.

The Eumundi Imperial Hotel, built in 1911 and now home to the Eumundi Brewery, has been at the heart of the town since the days when thirsty jackaroos drove bullocks through.

The live music and pub-dining business has been placed on the market with its adjoining boutique hotel HOLA for an undisclosed amount amid whispers they could fetch more than $20 million.

The Imperial Hotel and newly opened HOLA bespoke accommodation are being offered for sale by HTL Property via an international Expressions of Interest campaign.

They are situated on a 5581sqm block fronting Etheridge Street and Memorial Drive and opposite the popular Eumundi Markets.

The vibrant corner of town is the heart of live music and is also known for its craft beers and other seasonal tipples, with a menu of pub favourites and foodie dishes.

The precinct features “seven revenue streams” which include the traditional Queenslander-style pub, modern accommodation and the Eumundi Brewery and Eumundi Distillery.

The hotel’s rich history dates back to the earliest days of settlement on the Sunshine Coast when it was founded by Ransome Jefferies in 1910-1911 and later run by three McIntyre sisters.

It became the meeting place for thirsty jackaroos and remained the focal point of the town for much of the century.

historic eumundi imperial hotel
he hotel was a meeting place in the earliest days of settlement, here pictured in 1917. Picture: Picture Sunshine Coast

In 1926, fire destroyed the hotel and it was rebuilt the following year and advertised as a newly built hotel with first-class accommodation, garage and stabling and “the best meals on the North Coast”.

One spooky story of the past recalls how a newlywed couple booked into Room 6 for their wedding night and were never seen again.

“By morning they had mysteriously vanished and all that was left in the room was the wedding gown and the groom’s size 10 boots,” states the pub’s website.

“(Their) ghostly presence has been felt by many throughout the years.”

In 1988, Eumundi Lager was born, but brewing of the brands ceased in 2004.

The craft beer was revived in 2017 in a new partnership with major company Lion which launched the new Eumundi Brewery Lager and Eumundi Brewery Pale Ale.

eumundi imperial hotel brewery
The craft beer brewery was revived in 2017.

The boutique hotel HOLA, which is also for sale, opened its doors late last year and is described as an eco-friendly contemporary chic accommodation with 15 rooms, each with its own collection of local art.

The name HOLA stands for ‘House of Local Art’, has 45 original artworks hanging on the walls, more than 100 ceramic pieces and 12 impressive sculptures.

HOLA is split over two levels with two buildings set on either side of a tropical courtyard and pavilion.

The rooms are contemporary chic with a “Eumundi laid-back spirit”, featuring timber furniture, natural linen soft furnishings, bamboo and cotton throws.

HOLA SUITE
Each room in HOLA is like a mini gallery decorated with local artworks.

HTL property director Andrew Jolliffe said the consistent trade of the multiple businesses would make it a great investment.

“The sheer scale and multi-revenue centre complexion of this offering reminds us of the way the Ivy and The Coogee Bay Hotel speak to numerous market segments in one location,” he said.

“Being so close to Noosa and enjoying a role as the focal point around which the hinterland communities orbit, means the business enjoys very consistent trade over an elongated period of time; as distinct from being restricted to a concentrated day or two a week.”

HTL director Glenn Price said it was a well-known as a family friendly venue which offered live entertainment in the its three beer garden performances every week, as well as headline acts in the designated gig space.

HTL property director, Brent McCarthy said boutique and experiential accommodation like HOLA were highly sought since travel restrictions were eased by state governments.

“HOLA’s quality and positioning enjoys favourable comparison with Rae’s at Wategos, Surf at Yamba or Halcyon House at Cabarita Beach,” he said.

Article source: www.sunshinecoastnews.com.au



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Tuesday 30 August 2022

Tallebudgera Valley Wellness Resort Greenlit

Tony De Leede’s plans for a new wellness retreat overlooking the Tallebudgera Valley have won approval. 

The Fitness First founder filed plans for Eco View Retreat with the Gold Coast City Council late last year to develop a wellness retreat down the road from his world-renowned Gwinganna retreat.

Studio P designed the 15 cabins and central pavilion for the nature-based wellness retreat that will be nestled on a cleared area on the 28ha site at 660 Trees Road, Tallebudgera Valley. 

The retreat is intended to operate as a venue for group bookings for a maximum of 30 people with a focus on wellness and the environment, with activities including hikes, equine therapy and yoga. 

And it’s a model that has worked well for De Leede, with the ‘facilities-for-hire’ concept proving a success at his Bali-based retreat, Komune. 

De Leede said he believed Covid-19 had reinforced the need for people to escape the demands of city living and put greater emphasis on mental and physical wellness. 

“The pandemic has caused people, both domestically and internationally, to rethink their attitude towards their lifestyle,” planning documents said. 

“The Gold Coast is in the midst of a domestic migration of residents from the southern states as a result of the city’s enviable lifestyle offerings. The proposed development is an emerging industry for the city’s tourism sector and is supported by a range of recently released strategic plans to boost Queensland’s economy post the pandemic.

Gwinganna retreat
▲ Gwinganna was on the block earlier this year, and was named the Best Luxury Eco Spa at the World Luxury Spa Awards last year.

“Gwinganna prides itself on its relationship with the Tallebudgera community and is built on a foundation of environmental appreciation and environmentally sensitive design principles and practices.

“These principles and practices are proposed to be carried through to the proposed development.”

The development will be positioned around a central pavilion that will include reception, dining, kitchen, lounge, laundry and staff quarters. 

A large multi-purpose room is proposed for the north-western side of the pavilion, which will be flanked by an extended deck and pool.

Gwinganna was on the market this year with an expressions of interest campaign closing in March. 

The Urban Developer understands there were two parties interested in acquiring the property, which was named the Best Luxury Eco Spa at the World Luxury Spa Awards last year. 

Meanwhile, Fortescue chair Andrew ‘Twiggy’ Forrest’s Tattarang dropped $30 million on a Byron Bay health retreat nearby. 

Article source: www.theurbandeveloper.com



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Councillors decide the future of hinterland’s ‘unique tourism offering’

Councillors have voted unanimously to approve a “unique tourism offering” which had caused some “angst” in a hinterland community.

The $10 million farmstay and adventure park will be built by the pioneering Pitcher family at Woombye.

The application for the new tourist park dominated Thursday’s Sunshine Coast Council meeting, igniting lengthy discussions by councillors.

But despite many residents opposing it, the Sixty6 Acres development was given the green light by all councillors.

Sixty6 Acres’ plans include 132 sites (20 two-bedroom high-end cabins, 19 luxury glamping tents, 49 van and RV sites and 44 camping sites).

Council received more than 100 public submissions against the new development, with a slightly higher number in favour of it.

The matters raised centred on the economic need, traffic impacts, acoustic concerns as well as environment, visual and landscape issues.

A comprehensive report was presented during the meeting, responding to the concerns raised as well as identifying some of council’s conditions of approval.

The motion of approval was moved by Cr Winston Johnston and seconded by Cr Peter Cox.

Sixty6 Acres
Sixty6 Acres plans include opening a country cafe.

Upon hearing the presentation, Cr Cox said he fully supported the motion, calling the tourist park “a unique tourism offering.”

“From an economic development (point of view) this is very consistent with the preservation of rural lands,” Cr Cox said.

“There will be great employment opportunities for the Sunshine Coast, especially for those neighbouring businesses in Woombye and Nambour.”

The application conditions were adequate for the vast majority of the public concerns raised, he added.

Sixty6 Acres tourism park
There will be high-end cabins and glamping tents.

“This has been an application that has caused some angst with people living in that close proximity,” Cr Johnston said.

“The main concerns were about traffic, noise and the flood area.

“Councillors asked significant questions regarding these issues and they have got all the relevant additional information required.”

He revealed his own traffic concern for the proposal.

“I had concerns about the intersection at Nambour-Connection Rd and Diddillibah Rd,” he said.

“However, Main Roads have said that with the traffic flows that occur on that road, they don’t believe it to be a problem.”

Cr Johnston amended the motion to include Clause 25 which says site maintenance, including any machinery works would only be carried out between the hours of 7am and 7pm.

Cr Maria Suarez  and Cr David Law echoed Cr Johnston and Cr Cox’s sentiments.

Sixty6 Acres Plan

Economic need report findings

  • The property development meets the purpose and ideal outcomes of the rural zone code.
  • The property would be complementary to the surrounding rural area because it proposes a form of low-key tourism development that relies on the natural environment and farming history of the area with its accommodation and activity offering.
  • The site is well-located for tourism use having good road access and was in close proximity to council future district sports park.

Conditions of approval for noise

To actively manage and minimise future noise and prevent noise events, council recommended conditions for approval to include:

  • Restricting the use of community facilities to guests only.
  • Restricting hours of operation for guest facilities and for check in and check out.
  • Restricting amplified music and voice to certain hours and prohibiting the same in the country café.
  • Landscape buffers would be required surround sections the property.

Conditions of approval for traffic concerns

  • Council’s report found Diddillibah Rd was a rural neighborhood collector and has the sufficient capacity to accommodate the development.
  • The intersection (at Diddillibah Rd) would be required to be upgraded with channelised right-turn treatment into Walden road which is a turning pocket and a basic left turn treatment acceleration land into Walden road.
  • These upgrades will improve safety for vehicles turning into Walden Rd and for through traffic.

Article source: www.sunshinecoastnews.com.au



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Why this record-breaking clifftop knockdown on Moffat Headland could be yours one day

A dilapidated timber house on a cliff’s edge has set a record price for the seaside suburb of Moffat Beach after being purchased by the RSL Art Union.

The 1950s property perched on Moffat Headland sold for $6 million, effectively just for the land (542sqm) as the aged house is expected to be knocked down to build a lottery home.

Agent Dave Millar continued the family tradition of selling multimillion-dollar properties in the most iconic beach locations.

His father David sold the landmark 1970s ‘Spanish house’ on the dunes at Dicky Beach for $4.5 million in 2007.

The run-down, two-bedroom Moffat shack has the most astonishing and uninterrupted views of the coastline stretching from Moffat Beach to Point Cartwright.

The veranda overlooks the popular surf break at Moffat Beach and the entire house is infused with the sound of crashing waves as the sun beams down.

“It’s facing north, you can watch the many ships that are waiting to go to Brisbane,”  Mr Millar said.

“It looks north to Point Cartwright, Mount Coolum, Buderim, in the distance Montville, and the beaches from Moffat right through to Point Cartwright.”

Moffat Headland
An incomparable view over the Coral Sea.

Previously owned by businessman Tony Thompson, a vineyard owner, as an investment and beach house, it is located on one of the most tightly held streets on the Coast.

The old houses on McIllwraith Street have gradually been demolished over the years to make way for medium-rise, prestige apartment buildings.

The property at No.15 is just one of a handful of original homes remaining, some of which are in similarly poor condition.

McIllwraith Street property
One of the few original homes remaining on Moffat Headland.

“On McIllraith, there’s only a handful of residential properties that aren’t developed into units and generally they’ve been owned by multi-generational owners,” Mr Millar said.

“This was a pristine holiday spot for people in Brisbane; the same with Queen of Colonies Parade where there’s only a couple of houses left.”

It’s understood 19 Queen of Colonies Parade sold earlier this year for under $6 million.

Mr Millar said the property attracted huge interest but the eventual buyer needed to have deep pockets, not just to buy the old house but rebuild.

“Properties of this price and calibre limit the field of real buyers down to a handful,” he said.

It’s anticipated the RSL Art Union, which is Australia’s biggest prize home lottery, will redevelop the site with a new multimillion-dollar property.

The eventual prize would be worth well over $6 million by the time a house or apartments are built, but that’s not unusual for the lottery group.

Some of the prize packages currently being raffled on the Gold Coast are valued at $12.5 million and $10.6 million.

Moffat Headland is the most distinctive feature of the suburb, with a pedestrian footpath that runs in front of the properties and alongside the cliff edge.

The area was named after a chemist from Brisbane, James C. Moffat, who bought eight hectares (20 acres) in 1882 and established a cottage on the headland that now bears his name.

His land holding stretched from Moffat Headland to the location of the current Caloundra Golf Club and northwards from William Street to Cooroora Street in Dicky Beach.

McIllwraith Street view
The only traffic is on foot.

Article source: www.sunshinecoastnews.com.au



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Monday 29 August 2022

Half dozen investors bid for Rainbow Beach mall

A Queensland local outbid five other investors for a small shopping centre at Rainbow Beach, the smallest of two Fraser Island gateways.

The auction result – $4.43 million – reflected a 7.32 per cent fully let net yield.

With 949 square metres, the complex is anchored to IGA, which is on a lease expiring in 2027.

There are six specialty stores too, five which are leased, the agents say, to daily needs occupiers.

On 2369 sqm, the Rainbow Beach Shopping Centre also has 36 car parks.

RainBow Beach
Rainbow Beach Shopping Centre could return annual rent of c$324,100.

Rainbow Beach Shopping Centre

At 48 Rainbow Beach Road, on the north west corner of Carlo, also with frontage to Kurrana Street, the shopping centre’s Weighted Average Lease Expiry is 3.56 years.

The IGA is tenanted to a multi-store operator who has traded there for 16 years, the agents said.

Leases across the board are net – with the tenants paying outgoings but not land tax, they added.

The asset also captures a large tourist catchment – more than 70,000 visitors a year.

“Despite the recent economic volatility, the centre commanded strong interest,” Ray White Commercial’s Lachlan O’Keefe, who auctioned the property with Michael Feltoe, Paul Butler and David Brinkley, said.

“Most people who have been to Fraser Island would know this centre as the last inbound stop of the journey,” he added.

“Considering the regional location, we are pleasantly surprised with how well the centre was known by private investors all across Australia,” according to the executive.

Mr Buter said “although the centre did feel the impacts of the initial COVID shutdowns, it has performed exceptionally in the last 18 months with interstate demand higher than ever, with the IGA especially being a strong performer”.

Rainbow Beach is about a three hour drive north of Brisbane, between Sunshine Coast and Hervey Bay.

In May, we reported ISPT paid $30.5m for the Caloundra Village, south of Maroochydore, reflecting a 4.74pc yield.

Elsewhere on the Sunshine Coast, that fund manager also holds the Woolworths anchored Coolum Park – after a $32.5m outlay late last year – and Coolum Village, in which Coles is the biggest tenant.

Article source: www.realestatesource.com.au



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Top 20 Best Investment Suburbs in Brisbane

The Sunshine State benefitted significantly from flexible and remote working arrangements during the pandemic.

While Victoria recorded a decline in population, Queensland saw 50,000 net interstate migrants in 2021, the most of any of the states.

This has subsequently resulted in significant pressure on the rental market.

Queensland is popular due to its relative affordability, in especially comparison to Sydney and Melbourne, with interstate migrants seeking a better work-life balance.

Brisbane, Gold Coast and the Sunshine Coast have all enjoyed from solid demand by buyers and renters. Many locations have seen asking rents for houses soaring by 30%, with most property commentators expecting no respite on the horizon.

Weekly asking sale prices have increased dramatically too, according to SQM Research.

One factor for this is the 2032 Olympics. Both Sydney and London experienced strong house price growth prior to their respective Olympics, despite the GFC occurring just a few years before the latter hosting the games.

The hosting of the Olympics is expected to cost at least $5 billion, mainly in the form of bolstered infrastructure.

Although the recent flooding has made an impact, sentiment remains solid, with stock on the market remaining relatively tight.

In terms of houses, good-sized blocks with the potential to add value are likely to perform well in the long term.

Units have underperformed houses by a significant margin in Brisbane and South East Queensland over the past decade, allowed for contrarian investors to pick up a bargain, says Doron Peleg of leading buyers agency BuyersBuyers.

“We recommend established units in boutique blocks with a high land value content
and a point of scarcity, such as district or water views,” he said.

“In Brisbane we recommend looking for suburbs where supply is constrained, and there is not a proliferation of high-rise towers.”

In light of this, we have collated the top investment in suburbs in Brisbane, based on suggestions from BuyersBuyers and research conducted by Terry Ryder of Hotspotting.

The list has taken into account factors suggested by Mr Peleg, along with SQM Research data showing the current vacancy rates. There are 10 suburbs for houses, and 10 suburbs for units.

Top 20 Best Investment Suburbs in Brisbane for Houses

  1. Aspley
  2. Wavell Heights
  3. Brighton
  4. Chapel Hill
  5. Kenmore
  6. Annerley
  7. Caboolture
  8. Carindale
  9. Cleveland
  10. Eagleby

Aspley, 4034

Located 13.4 kilometres north of Brisbane is Aspley, home to 3,999 houses at a median price of $942,448. The suburb is positioned on the flat ground south of Cabbage Tree Creek, and is centred on Little Cabbage Tree Creek, with hills to the south and east.

Wavell Heights, 4012

Wavell Heights, located 10.5 kilometres north of Brisbane, has 3,660 houses with a median price of $1.2 million. Established in the 1940’s, the suburb is popular with families due to its location and supply of both public and private schools, and has undergone a significant gentrification.

Brighton, 4017

Also in Brisbane’s north is Brighton. There are 3,547 houses in the suburb, with a median price of $875,220. With a population of over 10,000, the suburb is 22 kilometres north of the Brisbane CBD and is popular given its proximity to the new Redcliffe urban re-development.

Chapel Hill, 4069

Located in Brisbane’s west, Chapel Hill has 3,569 houses with a median price of $1.25 million. It is primarily a residential suburb full of detached housing, and is located 11.5 kilometres southwest of the Brisbane CBD.

Kenmore, 4069

Kenmore, in Brisbane’s west, has 3,359 houses with a median price of $1.07 million. With a population of almost 10,000, the riverside suburb is just under 14 kilometres from the Brisbane CBD, and has numerous parks and playing fields.

Annerley, 4103

In Brisbane’s inner southern region, Annerley is set to benefit from the upcoming Olympics. The median house price is $1.2 million. There are currently 125 houses for sale, with 89 sales in the past 12 months.

Best Investment Suburbs in Brisbane- Annerley Queensland
This Annerley Queenslander-style home is on the market for $899,000. Image – Matthews Real Estate – Annerley.

Caboolture, 4510

Located in Brisbane’s northern corridor, Caboolture has an affordable median price of $548,500 despite a significant growth in sales over the past year. Caboolture also enjoys one of the lowest vacancy rates in Brisbane, with rents rising strongly.

Carindale, 4152

Located in the middle-ring area of eastern Brisbane, Carindale has enjoyed strong growth, with a median house price of $980,0000. It is a well-known suburb with good infrastructure and a major shopping centre – one of the largest in the nation. The vacancy rate is around 1%, with rents surging.

Cleveland, 4163

A coastal suburb located in the City of Redland, 30 kilometres from the Brisbane CBD, Cleveland has seen sales double in the past 12 months with price growth increasing to $685,000. The vacancy rate is 0.3%, with the median rental yield sitting at 3.7%.

Eagleby, 4207

Located in the City of Logan in Brisbane’s southern corridor, Eagleby offers highly affordable housing despite strongly rising sales activity. Houses have a median price of $325,000, with 11.1% growth over the past year. The vacancy rate is 0.85%, with a median rental yield of 5.3%.

Top 20 Best Investment Suburbs in Brisbane for Units

  1. New Farm
  2. Bulimba
  3. Kedron
  4. Carseldine
  5. St Lucia
  6. Indooroopilly
  7. Taringa
  8. Ascot
  9. Stafford
  10. Chermside West

New Farm, 4005

A well-known leafy inner Brisbane suburb, New Farm has 5,448 units for a median price of $737,786. There are around 50 properties for sale. Along with being close to the CBD, the suburb benefits from is namesake park along with its relaxing dining scene.

Bulimba, 4171

Located just four kilometres northeast of the Brisbane CBD, Bulimba is home to more than 7,740 residents.  There are 2,007 units in the suburb, with a median price of $697,020.

Kedron, 4031

Located eight kilometres north of Brisbane’s CBD, Kedron is home to more than 10,000 residents. There are 1,753 units in the suburb, with a low median of $432,166.

Carseldine, 4034

Carseldine, 16 kilometres north of the CBD, is home to more than 10,000 residents. There are 1,035 units, with a median price of $469,385. The suburb is popular with families, with over 10 private and public schools in and around the area.

St Lucia, 4067

Located in Brisbane’s west, St Lucia is a riverside suburb that is home to 13,700 residents. There are 3,203 units with a median price of $534,313.

Indooroopilly, 4068

A popular riverside suburb west of the Brisbane CBD, Indooroopilly currently has 3,203 properties with a median price of $506,093. 40 units and apartments are currently for sale.

Top 20 Best Investment Suburbs in Brisbane- Indooroopilly unit
This Indooroopilly unit is on the market for $550,000. Image – Plum Property.

Taringa, 4068

Seven kilometres southwest of the Brisbane CBD is Taringa, which is home to over 9,000 residents. There are 3,003 units in the suburb, with a median price of $473,354.  There are 40 units and apartments currently for sale.

Ascot, 4007

Six kilometres northeast of the Brisbane CBD is Ascot. Units have a median price of $525,000, with a 4.3% annual rental yield. The suburb is full of leafy parklands with numerous restaurants, malls and cafes.

Stafford, 4053

Stafford, nine kilometres from the Brisbane CBD, is home to 7,400 residents. It is a popular suburb with families, students and professionals. The median unit house price is $410,000, with unit rents at $410. The annual rental yield is 5.2$.

Chermside West, 4032

Located 12 kilometres northwest of the Brisbane CBD, Chermside West is home to 6,800 residents. The average rent is $530 per week, with the average rental yield being 3.44%.

Article source: thepropertytribune.com.au



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‘Extraordinary’: outcry over extent of legal clearing in hinterland development

Residents of a leafy Sunshine Coast village have started calling their community ‘Deforest Glen’ after ongoing tree clearing to make way for development.

The small, tranquil pocket of Forest Glen in the hinterland has been alive with the sounds of forest felling which has created upset.

The natural environment is one of the reasons many chose to live in the area.

But developers have undertaken what one local Kate Kitchin calls an “extraordinary” amount of legal land clearing over the past five years.

She said hectares of mature trees had been dropped as part of the three latest developments:

  • Azure masterplanned collection of boutique villas (Owen Creek Road)
  • Greenwood Forest Glen (bounded by Mons and Parsons roads and Grammar School Way)
  • Ingenia Lifestyle Nature’s Edge expansion (Owen Creek Road)

Community outrage was voiced on social media when other large trees were lost recently on Sunshine Coast Council-owned verges.

They were located at the start of the Tanawha Tourist Drive for access to the Nature’s Edge property.

“Residents understand the need for more housing options as the population on the Coast grows,” Ms Kitchin said.

“But the absence of any community engagement for these huge developments, and large-scale clearing of mature forests in such a short space of time, has ruined the character of this suburb and decimated wildlife populations.

“It’s quite sickening to watch a majestic, beautiful tree, that’s taken hundreds of years to grow, be torn down for no other reason than poor planning.

“The scale of mature-tree clearance that we’re talking about in Forest Glen is extraordinary over the last 18 months.”

An Ingenia Communities spokesperson said the company had “always been extremely diligent in meeting any conditions set by local council, and worked closely with them and our residents to ensure the best possible community outcomes”.

The spokesperson said the company had installed fauna nest boxes within the preserved bushland to support existing wildlife, and preserved a Moreton Bay Fig around which an area of green space would be retained.

“We are currently creating a new entry point along Owen Creek Road. This has seen the removal of some trees which we appreciate may concern residents, but the updated intersection will improve motorist safety in the area, and the final step will see the tree planting bordering the road reinstated.”

The national property firm took over Nature’s Edge and The Village Forest Glen, as well as the neighbouring Forest Glen Holiday Resort, as part of a larger $65 million deal that also included a Townsville holiday park in 2021.

The expansion development is set for completion by the end of next year, when the total Nature’s Edge will have about 300 homes.

Division 7 Councillor Ted Hungerford said the council had approved an expansion of the Relocatable Home Park and Retirement Facility in Forest Glen in June 2021.

The approval underwent a comprehensive assessment by the council and state government.

“As a condition of the approval, a significant area of the existing vegetation has been protected by covenants,” he said.

“However, some vegetation removal has been permitted around the existing entry way to Nature’s Edge to ensure the safety of people travelling to and from the grounds.

“In addition, a further 9000sqm of vegetation planting – the equivalent of nearly 600 new koala habitat trees – will take place to offset what was removed.

“A condition of this approval required professional fauna spotters to assess vegetation before removal and they must be on site during the removal process.”

Further details of the application and development conditions can be viewed on the Development.i website (application reference: MCU11/0175.08).

the entry to Nature’s Edge
An artist’s impression of the entry to Nature’s Edge.

But Ms Kitchin said the former Big 4 caravan park had many well-established trees, which were now all gone.

“There are smarter options. Here, we are seeing a complete demolition of the existing landscape to create a blank slate for building. We could look to many European cities for examples of how clever development takes into account their surrounding environment.”

Trees are cleared on council-owned verges at Forest Glen
Trees are cleared on council-owned verges at Forest Glen. Picture: Kate Kitchin

Ms Kitchin said she feared for native wildlife and birds that once called the trees home – some of which had been forced to take up refuge in smaller backyards neighbouring the developments.

Her recent post on the Buderim community board page on Facebook, alerting local residents to  trees being removed from the verge outside the Nature’s Edge development, garnered 97 reactions, 68 comments and 69 shares in one day.

It prompted Leigh Coxall to comment: “Totally ruined my childhood stomping ground. Forest Glen is now all highways and concrete.”

And Lu See to reply: “Drove along the road past where the Big 4 caravan park used to be. Yesterday they cut down the big trees on the right. Today they stopped all the traffic as they were cutting down the trees on the left. I started crying when I saw the destruction.”

Other residents comment that marketing associated with the developments mention the ambience of the lush surrounding rainforest, yet many of the trees on the land parcels have been “decimated” by bulldozers or cut down.

As the trees were all on the developers’ land and permits had been granted, Ms Kitchin realises little can be done.

But she hopes the community’s concerted efforts and pleas to to Sunshine Coast Council for better community engagement during the planning of new developments  may emphasise to developers the need to replant established trees – especially given the Sunshine Coast’s new UNESCO Biosphere status as an international site of excellence and an area of natural beauty.

“I’m hoping that by highlighting what’s already happened to Forest Glen … we can retain the last remaining pockets of mature trees we have left. And make sure there’s a habitat left for our unique UNESCO biosphere occupants.”

Cr Hungerford said that through the Sunshine Coast Planning Scheme, the council had a plan for development of the Sunshine Coast region, including how to accommodate the additional people choosing to live here.

“We are confident that with our focus on protecting our environment, caring for our community, careful planning, and good design, council can help our region grow sustainably while maintaining and protecting the things we love about our Sunshine Coast, including our liveability and natural assets,” he said.

Article source: www.sunshinecoastnews.com.au



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Coastal Estates and Penthouse Perfection: Luxury Property Highlights for August 24

August 24 has delivered an impressive selection of luxury properties that stretch across the Eastern states. From waterfront estates to charming cottage-style builds, today was a remarkable day for the luxury property market in Australia.

7 Bareena Avenue, North Avoca, NSW 2260

North Avoca is an idyllic coastal locale commanding an annual growth rate of 26.2 per cent. Filled with affluent estates that line its shores, the median house price sits at A$1.9 million. In May, property prices climbed by 3.8 per cent, while homes stayed on the market for an average of 30 days.

Positioned just 50 metres from the coastline, this luxurious family home occupies an unrivalled beachside address.

A mix of contemporary interiors and mid-century-inspired architectural design, the North Avoca property presents an immaculate standard of living to the market.

7-Bareena-Avenue-North-Avoca-NSW-2260
7 BAREENA AVENUE, NORTH AVOCA, NSW 2260

1481/PENTHOUSE 9 Ferny Avenue, Surfers Paradise, Qld 4217

Surfers Paradise draws residents and tourists alike to its famous white-sand beaches and bustling city centres, reflected in a strong annual growth rate of 20.2 per cent. The vibrant lifestyle attracts a relatively young predominant age group of 20 to 29-year-olds while the median unit price of the locale sits at A$505,000.

Sprawling across the entire 48th floor of an exclusive complex, this Gold Coast penthouse is the pinnacle of coastal luxury. Enveloped by panoramic ocean views, this property is an entertainer’s dream boasting a heated pool, spa, sauna and outdoor terrace, all set to the backdrop of the Pacific Ocean.

This property is set to go to private auction on Thursday, September 29, if not sold prior.

PENTHOUSE
1481/PENTHOUSE 9 FERNY AVENUE, SURFERS PARADISE, QLD 4217

53 Hudson Parade, Avalon Beach, NSW 2107

Avalon is a picturesque Sydney suburb defined by its leafy streets and pristine coastal waters. The family-dominated locale has 23 parks covering nearly 14.6 per cent of the area and recorded an annual growth rate of 24 per cent. Posting a median house price of A$3.1 million, homes in the area stay on the market for approximately 40 days.

This landmark double-block property was designed by iconic Australian architect Alexander Stewart Jolly in 1932 and captures stretching views of Pittwater. A beautiful mix of sandstone, solid timber and restored log, the home exudes cottage charm within a vast retreat.

A moment’s walk from Clareville beach, the Pittwater foreshore and local shops, this home is well equipped for a tranquil family lifestyle.

This idyllic Avalon property is set to go to auction Wednesday, September 21 at 4:30 pm and is expected to sell for A$4.75 million.

53 Hudson Parade, Avalon Beach, NSW 2107
53 HUDSON PARADE, AVALON BEACH, NSW 2107

98 Norman Crescent, Norman Park, Qld 4170

Norman Park is an affluent Queensland suburb that recorded a 20 per cent annual growth rate. In the last 12 months, the suburb experienced a 0.9 per cent value increase that drew the median house price up to A$1,392,500. Largely occupied by working professionals and couples with children, the locale presents an appealing family lifestyle to the market.

‘Barlow’ redefines suburban family living in the form of a revitalised Californian bungalow, resting in one of Brisbane’s most charming locales. The home showcases luxurious French-inspired interiors in the form of smooth oak floors, travertine tiles and a carved mantle fireplace.

Boasting dual access across two streets and panoramic views of the Brisbane cityscape, this property is well positioned for an executive family lifestyle.

This Norman Park home is set to go to auction on Saturday, September 17 at 9am.

98 Norman Crescent, Norman Park, Qld 4170
98 NORMAN CRESCENT, NORMAN PARK, QLD 4170

30 Cypress Court, Minyama, Qld 4575

The tightly-held enclave of Minyama is famed for its notable residents and affluent real estate. With a median house price of A$2,012,500, properties stay on the market for an average of 25 days. A soaring annual growth rate of 28.4 per cent is a reflection of the vibrant life within the locale and its desirable proximity to the Queensland coast.

Previously sold in May 2021 for A$3.3 million, this Minyama property presents a prime waterfront position and unparalleled interiors to the market. Boating enthusiasts will be able to take advantage of the property’s private pontoon and direct access to the harbour mouth and broad water beyond.

Lavish interiors and soaring ceilings precede Balinese-style tropical gardens in a harmonious blend of outdoor and indoor entertaining.

30 Cypress Court, Minyama, Qld 4575
30 CYPRESS COURT, MINYAMA, QLD 4575

34 Leslie Road, Essendon, Vic 3040

Essendon is a trendy Melbourne suburb conveniently positioned in close proximity to the CBD. A blend of heritage homes and newer contemporary builds, the median house price currently sits at A$633,500 while homes tend to stay on the market for 47 days. The suburb is generally occupied by young working professionals in the 20 to 29 age range; a testament to its thriving community life.

Designed by prominent Essendon architect Anne Crampton, this property is an executive family estate occupying a premiere Melbourne address. Brought to life by award-winning GOS constructions, the lavish home rests on a 942-square-metre block.

Enjoying close proximity to leafy parks, Maribyrnong River and Lowther Hall Anglican Grammar School, this Essendon property is the ultimate ticket to a sumptuous Melbourne lifestyle.

This property is accepting expressions of interest until September 15 at 5pm.

34 Leslie Road, Essendon, Vic 3040
34 LESLIE ROAD, ESSENDON, VIC 3040

22A Crescent Road, Hamilton, Qld 4007

The affluent riverside suburb of Hamilton experienced a positive annual growth rate of 6.9 per cent, pushing its median house price to A$1,925,000. The locale attracts those seeking a blue-chip yet peaceful family lifestyle while homes stay on the market for an average of 36 days.

Perched on Hamilton Hill, this property is enveloped by panoramic views of the Brisbane River and beyond. Boasting a myriad of contemporary appliances and luxury appointments, the residence won the Cedia Award for best-integrated home.

Bounded by the Brisbane River to the south and situated within walking distance of St Margaret’s Anglican Girls School and Ascot State School, the location of this home is unrivalled.

This property is accepting expressions of interest until September 22 at 2pm.

22A Crescent Road, Hamilton, Qld 4007
22A CRESCENT ROAD, HAMILTON, QLD 4007

Article source: themarketherald.com.au



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Queensland real estate market still has a steady pulse

Property prices continue to rise across Queensland, albeit at a more modest pace, according to quarterly median sales results released by the Real Estate Institute of Queensland (REIQ) on Thursday (25 August).

The June 2022 quarter (April – June 2022) revealed that Queensland’s median house prices rose by 3.61 per cent, while median unit prices still inched up by 1.59 per cent.

REIQ CEO Antonia Mercorella said the latest quarterly results showed Queensland’s soaring property market growth has started to show signs of calming. 

“You only need to take a look at the rate of price growth over the past year, with some areas achieving an incredible 20-30 per cent growth year on year, to realise the property market couldn’t keep up that accelerated pace forever,” Ms Mercorella said.

“This quarter we’re still seeing healthy growth in most major markets, but at a more sustainable level, as Queensland’s property market appears to finally have caught up on the growth it was well overdue for.

“What this means on the ground is that the property buying frenzy has relaxed, allowing a slower, more considered approach from buyers which is evidenced by longer days on market.

“Our member agents tell us that demand for property is still energised due to low levels of supply and continued demand, but that there’s price points and property characteristics that buyers are pursuing, including a renewed interest in units and townhouses.

“Honestly, it’s good to see some sense of calm returning to the market, taking buying activity from madness to measured, where both agents and buyers can take a breath.

“The rise of risky behaviours such as buying sight unseen, impossibly short settlement periods, and waiving cooling off periods are hopefully behind us now.”

Ms Mercorella said Queensland’s property market remained resilient despite recent hits to hip pockets and borrowing constraints.

“Consecutive interest rate rises and inflation are seeing households tightening their belts, however this is against the backdrop of very low unemployment, pent up wage growth expectations, continued high interstate migration, an extremely tight rental market, and the return of international migration further boosting our state’s population,” she said.

“These are all factors that will buoy Queensland property prices, and should give buyers confidence in investing in our state.

“We know that smart property investment is about the long-distance run rather than a short sprint, but there’s no doubt that property owners have lapped up Queensland’s extraordinary growth spurt.

“What the Queensland property market has proven over the years is that it pays to get your foot in the market and be in the race.”

House sales market

The Brisbane Local Government Area (LGA) median house price remained steady, experiencing a slight fluctuation to $1,075,000 over the June Quarter (March Quarter was $1,090,000).

Despite the slowdown during the quarter, year-on-year growth shows the Brisbane LGA annual median sale price was pushed over the million-dollar mark, now sitting at $1,005,000. In fact, Brisbane LGA’s annual growth rate actually rose an impressive 27.22 per cent, demonstrating that a longer outlook reveals a bigger picture of a market performing strongly.

HouseMedianSales-March2022

Brisbane suburbs joining the ‘million-dollar median house club’ based on sales in this quarter alone include Mitchelton, Chermside West, Ferny Grove, and Everton Park, while Bulimba just cracked the $2 million mark ($2,001,550).

Expanding out to the Greater Brisbane region, there’s modest positive growth of 1.79 per cent over the quarter to $766,000 based on just over 8,000 sales.

The most affordable LGA in Greater Brisbane is Ipswich LGA ($530,750), which stood out with the top growth rate of 4.07 per cent this quarter, suggesting there’s strong demand in the market for value and greater affordability. Another standout when looking at annual growth was the Redlands, with an incredible 29.07 per cent increase compared to the year prior.

Queensland’s regional centres’ quarterly median house prices rose modestly, but remained under half a million dollars in Rockhampton ($340,000), Townsville ($400,000), Gladstone ($417,000), Bundaberg ($430,000), Mackay ($436,000), and Toowoomba ($495,000), again offering greater affordability.

Taking a dip

Some of the state’s popular tourism centres however, which have had quarter after quarter of steep growth, posted median house sales that dipped compared to the previous quarter of phenomenal performance.

For example, Noosa, which had median house prices growing an astronomical 15.38 per cent in the March quarter, fell 7.80 per cent this quarter – which is understandable given this double-digit growth is a hard act to follow. Noosa maintained its title as the highest quarterly and annual median sale price at $1.3 million, continuing to extraordinarily outperform the capital city, following eye-watering year-on-year growth of 36.81 per cent.

Similarly, the Sunshine Coast LGA reflects this comparative quarterly dip in otherwise a stellar year of performance of 28.63 per cent, stepping back 1.52 per cent to a $970,000 median house price.

The Gold Coast’s median house price also experienced a slight fluctuation, down 0.51 per cent to $970,000, but this is within what is considered steady, and again, follows an extensive period of upward growth.

Fraser Coast LGA continued to have a strong rising housing market this quarter (with 2.67 per cent growth to $539,000), while Cairns LGA’s median house price remained fairly steady (with a 0.93 per cent uptick to $540,000).

Unit sales market

When looking at median unit prices it’s important to remember that the data tends to be more volatile due to lower volume of sales over the quarterly period, however similar median price trends to the house sales market were observed in holiday unit markets.

The Gold Coast retreated by 1.86 per cent, Sunshine Coast dipped 1.22 per cent, and Noosa fell 10.20 per cent, but Noosa’s quarterly result was based on a smaller sale sample size of 83.

However, these markets all experienced excellent growth of over 20 per cent over the past 12 months. Despite the dip over the quarter, annual growth shows the Gold Coast LGA achieved 20.42 per cent, Sunshine Coast LGA reached 25.77 per cent, and Noosa LGA clocked a 21.61 per cent increase.

UnitMedianSales-March2022

In the regions, Rockhampton LGA (-16.03 per cent based on just 46 sales), Cairns LGA (-14.04 per cent), Gladstone LGA (-12.66 per cent based on just 50 sales), and Townsville LGA (-10.34 per cent) all posted falling unit median prices – but some of these markets tend to bounce up and down due to smaller volume of unit sales.

For example, in the March quarter Gladstone posted positive growth of 18.37 per cent, which swung downwards 12.66 per cent in the June quarter.

In Greater Brisbane, median unit prices were on the rise, with the most affordable markets – Ipswich LGA ($326,000) and Logan LGA ($330,000) – achieving the highest quarterly growth at 8.31 per cent and 8.20 per cent respectively. These markets also hold some of the highest annual growth in the state with Ipswich soaring an incredible 30.12 per cent and Logan an impressive 24.20 per cent this year.

Brisbane LGA’s median unit price cracked half a million dollars this quarter, with the Redlands hot on its heels with a median unit price of $485,500.

Article source: www.apimagazine.com.au



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Churchill receives go-ahead for $55M Ashmore Markets development

Churchill Development Group has announced the approval of its Ashmore Markets, Reed Street development by the Gold Coast City Council.

The site, formerly the home of the popular Ashmore Seafood and Steak restaurant, was purchased by the group in 2021, and will maintain its legacy as a food destination with the 9,020sqm corner set to become an ‘epicurean emporium’.

The transformation is valued at $55 million.

Jonathan Leishman, Churchill Development Group Executive Director said given formal approval has been received, he is looking forward to bringing the project to life.

“We were determined to maintain the food focus and create something special for the site,” he said.

“We worked with our architects to create a building that is anything but your typical shopping centre. The design features a floor-to-ceiling glass façade and external planting and green spaces will ensure the destination becomes part of the surrounding suburban area.”

Jonathan Leishman, Churchill Development Group

The Ashmore suburb itself has benefitted from strong property price growth, with the median house price rising above $1 million over the past year, reflecting a 26% increase.

Ben Bailey, Churchill Development Group General Manager, added the increase in house values and sale prices has subsequently fuelled demand for premium hospitality and retail offerings.

“We have dedicated around 70% of the 5,290sqm centre to food and beverage retailing which will be the majority of the tenancy mix,” he said.

“Cafes and restaurants with a focus on delivering fresh, quality food along with a bottle shop, wine bar and full line premium grocer will be part of Ashmore Markets and we’re also working to bring wellness, medical and allied health operators and a pharmacy to the development.”

Ben Bailey, Churchill Development Group

“We look forward to announcing further exciting news in the coming weeks regarding a number of high-quality operators that we’ve partnered with at Ashmore Markets.”

Construction is expected to commence before the end of the year, with completion in early 2024.

Other projects by the group include 200 Kingston Road at Slacks Creek and the Breakfast Creek Quarter mixed-use precinct in Newstead.

Article source: thepropertytribune.com.au



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Saturday 27 August 2022

‘Astute and determined’: major CBD developer Evans Long annouces new role

A prominent developer with two major projects in the Marochy CBD has announced a new role overseeing all of its building activities.

Evans Long has promoted its current development manager Sujay Singh to the newly created role of Head of Development.

Director Dirk Long said Sujay had significant expertise and professionalism and he would be overseeing all the development projects across the group.

“Throughout his eighteen year development career, Sujay has played significant roles in the delivery of award-winning projects and we have seen this first-hand across our business,” said Mr Long.

“He’s proven to be astute and determined and above all he’s a quality person who is a great cultural fit for our business.”

Fellow director Matt Evans said Sujay would spearhead the execution of the A1 commercial building within the Maroochydore CBD (pictured), following the company’s success with Foundation Place which was fully tenanted.

A1-building

“Sujay will manage the wider development team and pursue development opportunities so we can build a future pipeline of projects for the business.

“He will also work with Dirk and I on the Group’s long-term strategy as we have some exciting plans on the horizon,” Mr Evans said.

Mr Singh said he was excited to take on the new role which would incorporate many of the skills he had acquired including property development, acquisitions, funds and asset management in the commercial, retail, residential, health and industrial sectors.

“Evans Long is a perfect blend of true-developer experience coupled with entrepreneurial spirit. Our business operates with an incredible amount of autonomy so we are well positioned to secure unique opportunities over a variety of assets classes over the next few years.

“We have a great team and culture in place and Dirk and Matt have put a lot of faith in me to help steer the ship into the future. I’m eager to see where we can take the business.”

Article source: www.sunshinecoastnews.com.au



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Where property investors are buying the dip

Property investors are taking advantage of the market downturn and swooping on south-east Queensland and Adelaide’s coastal suburbs, according to a new report.

Despite house prices sinking across the country, chief executive of BuyersBuyers Doron Peleg said now was a “potentially suitable time to buy” with an eye to the future.

“The question is where?” he said.

Adelaide’s coastal suburbs to the south of the city and parts of south-east Queensland are attracting attention from buyers, Peleg said.

Record high net interstate migration to south-east Queensland has been putting intense pressure on the rental market, and is unlikely to yield any time soon.

Tens of thousands of people have packed up and left New South Wales and Victoria since COVID-19 ravaged both states, but Queensland is a magnet.

Some 41,000 people moved to the sunshine state in the last financial year, following the 30,900 who relocated there from other states and territories the previous year.

Queensland
Queensland is experiencing a big spike in interstate migration, putting pressure on the rental property market. (AFR / Robert Rough)

Queensland’s population is forecast to grow by 1.5 million people by 2041, and rents have been soaring.

Peleg said there are still some affordable options in Brisbane’s northside suburbs, on the Gold Coast, and even on the Sunshine Coast.

“But buyers need to be more considered about what they buy and the price they pay after a surge through the pandemic.”

Over the long-term, the 2032 Brisbane Olympics will boost prices in some parts of the city because of infrastructure and investment the global event will bring.

Property prices have boomed over the past couple of years, but Reserve Bank rate hikes and rising costs of living have softened the market.

However, according to the report, Sydney’s prices remain about 34 per cent higher than at the time of the 2019 election, and in Brisbane and Adelaide prices remain about 48 per cent and 47 per cent higher respectively.

Viewed through this lens, Pete Wargent, co-founder of BuyersBuyers, said such a correction is “hardly surprising, or even problematic”.

The next RBA decision is scheduled for September 6.

Article source: www.9news.com.au



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The holiday home hotspot where house prices tripled in five years

Sea-change moves and holiday homes have been in hot demand, but nowhere hotter than this: in Sunshine Beach house prices have almost tripled in five years.

House prices in the quiet village in the Noosa Shire lifted a whopping 195.5 per cent over the five years to June, the steepest growth for any suburb in the country, making it the first Queensland suburb with a median house price north of $3 million.

Sunshine Beach
The median house price in Sunshine Beach was just shy of $1.1 million in 2017. It now sits at $3.25 million. Photo: Sunshine Beach Real Estate

The median sits at $3.25 million after rising 40.7 per cent last financial year, Domain data shows. It was just shy of $1.1 million in 2017.

Unit prices also more than doubled in the past five years, increasing 127.3 per cent to $1.5 million, the second-steepest jump for a suburb, after Jindabyne in the Snowy Mountains.

Domain’s chief of research and economics Dr Nicola Powell said “insane” price growth had been fuelled by record-low interest rates, limited supply and increased demand from cashed up sea-changers and holiday home buyers during the pandemic.

“It doesn’t surprise me that this part of Noosa has seen such roaring growth because the suburb itself has really changed … it’s become a playground for the extremely wealthy,” she said.

The suburb has had a slew of high-end sales in recent years. Gina Rinehart reportedly bought a $34 million Sunshine Beach house last year, while her BV Investments company has bought more than $42 million of real estate there this year.

Meanwhile, businesswoman Therese Rein, whose husband is former prime minister Kevin Rudd, paid $17 million for Pat Rafter’s former beachfront mansion in 2020. She more recently made a $3 million windfall on a two-bedroom cottage she purchased for $6.75 million, then resold to Rinehart for $9.75 million six months later.

Such high-profile sales gave buyers confidence in the suburb, said selling agent Kathy Wise, of Sunshine Beach Real Estate. However, it was increased demand, low supply and the prime location — hemmed by the beach and national park —that had been the driving force for the market.

“Demand from sea changers and demand for holiday homes went up, [buyers] just wanted a piece of Sunshine in whatever format they could get in,” she said.

holiday home hotspot QLD
A two-bedroom home which sold for the suburb’s median house price of $3.25 million in November. Photo: Century 21 Conolly Hay Group

There was also a lot of local movement and owners looking to cash in on rapid price growth, Wise said. She sold three homes twice during the pandemic, one of which was a three-bedroom apartment which she sold for $805,000 in 2020, then recently resold for $2 million. It was renovated between sales.

While a $3 million budget once guaranteed a home with ocean views, buyers were now likely to get a knockdown or fixer upper, with ocean glimpses, close to the village, Wise said. Or a renovated property further back from the beach but within walking distance.

The market had slowed a little, Wise said, but she was still fielding strong demand from local and interstate buyers. She expected the market would see a strong finish to the year, before plateauing.

“It’s not 2021 … but honestly, I don’t know how long both buyers and real estate agents could keep at that pace, it was so hectic,” she said.

Prices across the Noosa region have pulled back, with the median down 4.8 per cent over the June quarter. Powell noted that while cashed-up buyers were less likely to be affected by rapidly rising interest rates, higher priced markets tended to lead downturns, and have bigger price swings.

Sales agent Tom Offermann, of Tom Offermann Real Estate, said demand for Sunshine Beach homes was still outstripping supply and had yet to be affected by rising interest rates.

“We have a backlog of buyers still waiting … but the number of available properties is extremely low,” he said. “Most people say that if they sell they won’t get back in again, or ask where they would go? It’s very much a final destination for a lot of people, something they’ve aspired to for a long time.”

The suburb was no stranger to rapid price growth, Offermann said, with prices typically doubling every five years. But the rise of remote working increased demand from out-of-area buyers, who constitute about 60 per cent of purchasers. More sea changers left fewer homes empty, though holiday homes were also in strong demand.

“The proportion of discretionary properties has shrunk. You see more lights on at night, and there are not as many empty homes as more people buy properties and move into them permanently, but it is reducing the available properties for rentals,” he said.

About 31 per cent of people in the suburb were renting last year, according to the latest census data, down from 42 per cent in 2011. Meanwhile, the proportion of unoccupied homes fell from about 41 per cent to 35.5 per cent.

Rents have climbed rapidly, with the median house rent increasing by almost two thirds to $900 per week over the five years to June, Domain data show. Unit rents jumped about 51 per cent to $650. On census night, 46 per cent or rental households were spending more than 30 per cent of their income on rent, with the proportion more than doubling in five years.

Article source: www.domain.com.au



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Where should you buy your residential investment property?

Most first-time investors traditionally seek out and purchase their first investment property in or around their principal place of residence.

This is a normal human tendency to deal in an area you feel comfortable with, but it doesn’t always make good business sense.

Good proportions of suburban areas are simply that – suburban areas.

Whilst they could be great places to bring up a family it doesn’t necessarily make them good investment areas.

You must have the understanding that any investment in property, in any location, will be a good investment for the long term.

Whilst this is true, it should also be noted that some areas will give far better capital growth i,e riverside, oceanside or city localities will quickly outstrip most other areas.

The other fact is that you should be attempting to diversify your portfolio, like you would for a stock market portfolio.

Therefore, purchasing an investment property in a completely different location to your principal place of residence makes strategic sense as you build up a diverse portfolio, exposing yourself to other factors, locations and property types.

Your portfolio should also include different types of properties ranging from small units, new apartments, houses or developable land to commercial property. Such a diverse range of properties would be generally harder to find in your own suburb.

Whilst you are already exposed to the suburb your home is located in, it makes good business sense to spread your investment dollars over different regions for both the long and short term.

Article source: thepropertytribune.com.au



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Could this type of room soon disappear from Aussie floorplans?

Home theatres were once a status symbol in real estate, but could be set to vanish from floorplans.

Just as the formal dining room has disappeared from Aussie houses, one major builder is predicting so too will the home theatre.

Floorplans change according to the social milieu.

The tradition of gathering the family for a Sunday roast killed off the separate dining room, and in the era of COVID-19, the desire for a dedicated study has become more important to homeowners.

Builder Burbank found home offices and guest bedrooms have become increasing popular with their customers, and as a consequence, home theatres are featuring less in new constructions.

Home offices
Victorian and New South Wales homeowners were more likely to request offices in their new builds. Photo: Supplied

But within that trend are priorities specific to each state and how hard hit they were by lockdowns over the past two years.

Victorian and New South Wales buyers were more keen to include dedicated studies – given Melbourne was the most locked-down city in the world – compared to customers from Queensland, South Australia and Canberra, Burbank found.

Burbank’s national design manager Damjan Jeremic said homeowners wanted spaces they could use more frequently than a purpose-built media room, with seating and a projector.

“Home theatres have generally fallen in popularity since their wide acceptance from say 2005 to 2015,” he said.

“Most volume builders don’t display their homes with theatres anymore either and generally display the space as a secondary or formal living space.

Dining
The formal dining room is rarely found in modern Aussie floorplans. The home theatre is expected to go the same way. Photo: Douglas Elliman

“Even pre-COVID we started noticing that customers would select floor plan options on double storeys that convert the theatre into a guest bedroom which I think is a better alternative for our customers.”

Mr Jeremic said an extra bedroom on a ground level was a resale-boosting addition.

Burbank surveyed 500 customers and found 54 per cent intended to stay in their new property for at least eight years and strived for longevity in the design they chose.

“We’re seeing evidence that many people are reassessing their priorities when it comes to building a new home as they juggle the rising cost of living and back-to-back interest rate rises in recent months,” Mr Jeremic said.

“Their decision making is influenced by cost-of-living factors, which is apparent in the fact they want to live in their homes longer, are tailoring them to the future and are looking to make savings wherever they can, both in the construction and ongoing operating costs.”

Article source: www.domain.com.au



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Mooloolaba’s most ‘affordable’ waterfront property on one of the most exclusive streets

Buyers are scrambling to get their hands on the cheapest waterfront property with deepwater access in Mooloolaba after it was passed in at auction.

The stunning home on one of the Coast’s most exclusive streets is priced at an ‘affordable’ $3.5 million — less than the value of an empty block at $5 million.

Its upmarket neighbours on Carwoola Crescent are in the vicinity of $12 million.

Even a knockdown just around the corner on 9 Elanora Avenue went for a higher figure of $4.35 million last month.

By comparison, HOME – Sunshine Coast agent Jay Sherwell said 1 Carwoola Crescent was no knockdown, yet was on the market for a cheaper price.

“It’s arguably the most affordable entry-level waterfront home, by deep-water Mooloolaba, that you will find,” he said.

“There is nothing for that price point in deep-water Mooloolaba, period.

“The last house that sold was a knockdown, an old brick house, but this is no knockdown.

“The land opposite is $5 million just for the block and then you put a $3.5 million to $4 million house on it.”

Mooloolaba's cheapest waterfront property

Mr Sherwell said Carwoola Crescent was one of the more affluent of the Mooloolaba canal-front streets.

“This property is in the same neck of the woods as many multimillion-dollar homes, some up to $12 million. It’s a very nice street.”

Mr Sherwell said the owners were motivated to sell, having moved to Vanuatu.

After the property was passed in at auction, the agent is in talks with prospective buyers including one from Sydney who on Monday was jumping on a plane to the Coast.

The property was initially sold for $85,000 in 1985 and was last sold for $1.33 million in 2014.

“It’s got the longest canal view that you will find,” Mr Sherwell said.

“It’s a nice, wide canal so you’re not looking over to another neighbour.”

Mr Sherwell said 1 Carwoola Crescent was a “niche property”.

It boasts four bedrooms, two bathrooms and two car spaces on a 782sqm block, with a sandy beach.

“It’s got a holiday vibe to it and it brings the family together, as it’s a one-level home, which are hard to find in these parts.”

Mooloolaba property
The older, brick house at Mooloolaba.

Buyer finally gets lucky

A woman who had missed out on properties for two years has finally secured a knockdown on the beachside of the Nicklin Way at Warana.

The brown brick retro home at 17 Coonang Crescent was a barely used holiday house with a yard that had turned into a jungle.

Ray White agent Adam Budd sold the three-bedroom home for $900,000 at auction to the ecstatic buyer who had already lost two other auctions that day.

Mr Budd said the property, with an original brown laminate kitchen and blue bathroom floor tiles, had been in the same hands for decades.

The owner had very rarely visited and the trees had grown thick and tall around the house.

More than 50 groups viewed the property but it was purchased by someone who only laid eyes on it at the auction.

Mr Budd said there were four registered bidders on the day and the new lucky owner skimmed in late to make the knockout blow.

She now intends to knock down the house and build her own.

Older homes in central locations thrive

Established homes in the heart of the Sunshine Coast are still highly sought after if the looming sale of a 35-year-old brick house is anything to go by.

The property at 4 Mahogany Dr, Mooloolaba, was passed in at auction for $1.02m but it’s believed to have been sold post-auction for much more. The sale is yet to go unconditional.

“It’s an older, entry-level home in a cul-de-sac,” HOME – Sunshine Coast principal sales and marketing Jay Sherwell said after a large crowd attended the auction.

Property
The spacious lounge room.

“The good, low-set homes in those streets (of Mooloolaba) are highly sought.

“There was competitive post-auction interest with multiple offers.”

The historical suburb’s central location has continued to appeal to prospective buyers, Mr Sherwell says.

“Families love it there because you can walk to the shops and to the beach and to schools – it’s a trifecta.”

The property was first bought for $28,300 in 1987 and was last bought for $440,000 in 2005.

Auction results

3 Applegin Court, Mooloolaba

  • Sold under the hammer for $1.295m.
  • 4 bed, 2 bath, 2 car.
  • Matt Dellow, Define Property.

93/13 Mooloolaba Esplanade, Mooloolaba

  • Passed in, on the market, contact agent.
  • 3 bed, 2 bath, 1 car.
  • Grant Whisker, Define Property.

14/22 Meta Street, Mooloolaba 

  • Passed in, on the market for $710,000.
  • 2 bed, 2 bath, 1 car.
  • Grant Whisker, Define Property.

1 Carwoola Crescent, Mooloolaba

  • Passed in, on the market for mid-$3m.
  • 4 bed, 2 bath, 2 car.
  • Jay Sherwell & Kate Jewry, Home Sunshine Coast.

4 Mahogany Court, Mooloolaba

  • Under contract.
  • 3 bed, 2 bath, 2 car.
  • Jay Sherwell & Kate Jewry, Home Sunshine Coast.

22 Royal Drive, Buderim

  • Passed in, contact agent.
  • 4 bed, 2 bath, 2 car, pool.
  • Judy Wild & Lew Pottinger, Ray White.

199 Panorama Drive, Rosemount

  • Sold under the hammer for $650,000.
  • 4 bed, 2 bath, 2 car.
  • Mitch Rowe, Ray White.

2/26 Amaroo Drive, Buderim

  • Passed in, contact agent.
  • 2 bed, 1 bath, 1 car.
  • Judy Wild & Lew Pottinger, Ray White.

134/5 Forest Park Street, Meridan Plains

  • Passed in, contact agent.
  • 3 bed, 2 bath, 1 car.
  • Justin Wijaya, Ray White.

747 Diddilibah Road, Diddilibah

  • Passed in.
  • 4 bed, 2 bed, 8 car.
  • Mitch Sinclair/Natalie Tink, Ray White.

30A Kiel Mountain Road, Diddilibah

  • Passed in, contact agent.
  • 6 bed, 4 bath, 7 car.
  • Adam Budd, Ray White.

6 Avocet Street, Forest Glen

  • Sold prior to auction for $955,000.
  • 4 bed, 2 bath, 2 car.
  • Gregory Ward, Ray White.

12 Maltman Street North, Moffat Beach

  • Passed in, contact agent.
  • 3 bed, 1 bath, 1 car.
  • Luke Dunbar, Ray White.

26 Wavell Avenue, Golden Beach

  • Passed in, contact agent.
  • 3 bed, 1 bath, 2 car.
  • Ray & Linda Daniels, Ray White.

146-148 Woombye Palmwoods Road, Palmwoods

  • Passed in, contact agent.
  • 3 bed, 2 bath, 4 car, pool.
  • Chevonne Rees, Ray White.

3 Triumph Street, Birtinya

  • Passed in, contact agent.
  • 4 bed, 2 bath, 2 car.
  • Dan McNamara/Luke Dunbar, Ray White.

11 Balemo Street, Minyama

  • Passed in, now listed at $900,000.
  • Land.
  • Brett Higgins, Ray White.

3/2-6 Douglas Street, Mooloolaba

  • Passed in, contact agent.
  • 3 bed, 2 bath, 1 car.
  • Steve Allen, Ray White.

17 Coonang Crescent, Warana

  • Sold for $900,000.
  • 3 bed, 2 bath, 2 car.
  • Adam Budd, Ray White.

18 Elizamay Close, Buderim

  • Sold for an undisclosed amount.
  • 5 bed, 4 bath, 4 car.
  • Kathryn Willshire, Ray White.

51 Paddington Circuit, Baringa

  • Passed in, contact agent.
  • 4 bed, 2 bath, 1 car.
  • Peter King, Ray White.

6182 Burrum Crescent, Nirimba 

  • Passed in, contact agent
  • Dallas Foster, Land Ray White

7741 Cocos Crescent

  • Passed in, contact agent.
  • Land.
  • Dallas Foster, Ray White.

22 Royal Drive, Buderim

  • Passed in, contact agent.
  • 3 bed, 2 bath, 3 car.
  • Judy Wild/Lew Pottinger, Ray White.

Article source: www.sunshinecoastnews.com.au



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