Brisbane’s best property buys starting at $375,000

From a two-bedroom townhouse in Corinda to a ripe-for-renovation, three-bedroom post-war house on the north side, all six of these properties are priced at less than $800,000.

5/75 Margate Parade, Margate 

5/75 Margate Parade, Margate QLD 4019 

op-floor waterfront views are the eye-popping trump card of this two-bedroom apartment. The pad faces Margate Parade and has direct access to Moreton Bay beach. It is one of six in its three-storey block and last sold in 2003. Humpybong State School is about 300 metres southwest. Oxley Avenue shops and eateries are less than 500 metres west.

$525,000-plus

Private sale

Crown Properties, Matt Burton 0421 982 804

20 Dorrigo Street, Stafford Heights 

20 Dorrigo Street, Stafford Heights QLD 4053 

If you’re scouting for a ripper doer-upper, first home or investment in the northern middle-ring, this unassuming older house may fit the bill. It measures just 79 square metres under the roof – including a petite third bedroom ideal for a Tolkien hobbit – but it comes with a 607-square-metre title, and is 800 metres from two local primary schools.

$779,000-plus

Private sale

Realsales Real Estate, Chris Sharvell 0407 003 239

51/20 Newstead Terrace, Newstead 

51/20 Newstead Terrace, Newstead QLD 4006 

City living does not necessarily mean cramped living, and this two-bedroom, two-bathroom abode makes the point. Its 117-square-metre floor plan stars a main bedroom suite with walk-in wardrobe, designer en suite with spa and direct access to a 7.7 metre-by-5.1 metre balcony with views of the Wharf Park precinct. The complex is resort-like, with pools, gym, sauna, timber decking and outdoor seating and barbeques for residents.

$659,000-plus

Private sale

Rissman Property, Luke Rissman 0413 503 739

10 Brahms Street, Strathpine 

10 Brahms Street, Strathpine QLD 4500 

This green house appeals to buyers with imagination. On the market for the first time in 28 years, the high-set home has timber floors, a monochromatic kitchen with checker floor, and oodles of room to blossom into its fullest 21st-century self. Its ground level is multipurpose with a utility area, a bathroom and a side of covered patio. Upstairs there are three bedrooms, another bathroom and open-plan living, dining and kitchen. The land measures about 607 square metres.

$450,000-plus

Private sale

Harcourts Solutions, Cara Bergmann 0423 057 522

6/38 Gray Avenue, Corinda

6/38 Gray Avenue, Corinda QLD 4075 

One of only eight in its brick block, this townhouse presents good value on first blush. It has two levels of living space including two bedrooms upstairs and a garage on ground level. Another perk is the private rear courtyard. It is paved and fenced, and has an open palette for some small-space, high-impact landscaping.

$375,000

Private sale

Ray White, Lachlan Humble 0438 688 347

22 Landbury Street, Bald Hills 

22 Landbury Street, Bald Hills QLD 4036 

This three-bedroom, low-set brick house occupies a fenced 624-square-metre block in the northernmost suburb of Brisbane, about 20 kilometres from the city centre. Whoever buys it joins a street where 85 per cent of the 34 properties are owner-occupied. It’s ready for some cosmetic updating, and solar panels delivering 5kW of power are already in place.

$599,000-plus

Private sale

David Deane Real Estate, Craig Johnston 0418 795 552 

 

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Cromwell Sells Ipswich Office Tower for Record $145m

Cromwell Funds Management Limited has sold the Icon building in Ipswich for $144.9 million, a record price paid for an office building in Queensland outside Brisbane.

Castlerock picked up the nine-storey building with 17,870sq m of commercial space after raising $90 million in seven weeks for its new The Auslink Property Trust No 2.

The A-grade tower at 117 Brisbane Street, in the Ipswich City Heart precinct, was built in 2013 and included 207 car parks, 120 bicycle stations and office winter gardens.

Cromwell made the decision to sell because of the $16.4-million premium to the previous book value of $128.5 million and that the trust had less than two years to maturity.

Cromwell head of retail funds management Hamish Wehl said unit-holders would receive a special distribution as a result of the transaction.

“It was a difficult decision to sell the property, however, with less than two years to go to maturity, we felt that money-in-the-hand was the right outcome for unit-holders,” Wehl said.

Castlerock director Adam Bronts said the capital raised showed the appeal of the new fund and the high level of demand for quality property assets.

“This capital raise was the largest in Castlerock’s 18-year history, so it was extremely gratifying to see such keen investment appetite for the fund,” Bronts said.

The Queensland government is Icon’s major tenant, accounting for more than 91 per cent of the net lettable area.

The sale is unconditional and is expected to settle on October 21, 2021. It was put in play through Colliers state chief executive Simon Beirne and Queensland director of investment services Sam Biggins.

“Castlerock’s acquisition is further evidence of syndicator capital moving up the price curve into larger office assets in key metropolitan markets in Queensland,” Biggins said.

“The Icon transaction represents the largest sale of an office building in Queensland outside Brisbane. Castlerock was attracted to the long-term growth prospects of the Ipswich region. which is Queensland’s fastest growing local government area.”

 

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The markets performing best in our biggest cities

When it comes to Australia’s booming property prices, it’s no secret that not all markets are created equal.

Each city has its own story to tell, and even within one city, different segments of a market can yield very different results.

While the outer suburbs have led the charge in some cities, it’s the inner-city markets that have delivered the greater capital gains in others, the latest market update from PRD Real Estate shows.

So which market segments have been seeing the strongest price growth in some of our biggest cities?

Brisbane 

It was a different story in Brisbane, where the inner suburbs were leading the charge. The median house price of $1.2 million was 29 per cent higher than 2017 levels, with more than two-thirds of that growth seen in the year to June.

A limited supply of new dwellings in the inner city, strong interstate migration and interest from interstate investors were pushing up house prices in inner suburbs, Dr Mardiasmo said, as well as unit prices, which were up 5 per cent on 2017 levels.

House prices in inner Brisbane have hit a median of $1.2 million. Photo: Supplied 

“We’ve seen interest from buyers in NSW, Victoria, Tasmania, Perth. People see the Brisbane market prices and think, ‘Oh my goodness, done, sold,’” she said, noting that an inner-Brisbane house cost less than a home in Sydney’s outer suburbs.

Brisbane families looking to buy within desirable school catchments closer to the city centre were also driving up house prices in the inner and middle ring, where homes were now selling fastest and prices were up 23.3 per cent to a median of $820,000.

The outer-suburb house median climbed 15.7 per cent over the years to $625,000.

Most homes in the city were now selling above their advertised price, Dr Mardiasmo noted, with only units in the inner and middle rings still being discounted, by an average of just 1.1 per cent and 0.4 per cent, respectively.

Perth 

On the west coast, it was also the inner-city suburbs that saw the strongest house price rises.

Inner Perth’s median house price was up 15.7 per cent to $900,000,  while prices in the middle and outer markets were up about 14 per cent on 2017 levels, almost entirely due to growth in the last financial year.

The level of discounting on Perth units has pulled back. Photo: Jan-Otto 

Middle-ring units were also up 12.5 per cent to a median of $450,000, the city’s most expensive. However, inner and outer city unit prices were still down over the years.

The Perth market had been picking up, seeing a turnaround after years of price falls then sluggish growth, Dr Mardiasmo said. Homes were taking less time to sell, and widespread discounting on houses had come to an end with properties across all markets selling slightly above their advertised prices.

Discounting on units remained but had tightened significantly from early 2020 – at an average of 0.6 per cent or less across the three regions.

Canberra 

In the nation’s capital, houses in the inner ring were up a whopping 37 per cent on 2017 levels to a median of $1.32 million, with about two-thirds of the growth recorded in the year to June. Strong demand was seeing houses sold in an average of 24 days – the quickest time frame in any of the five cities.

Units also recorded double-digit price growth, with the inner city median rising 19 per cent to $577,000.

House prices in inner Canberra are up 37 per cent on 2017 levels, with prices further afield also up more than a quarter. Photo: Jamila Toderas 

The price surge in Canberra’s inner ring, for both property types, indicated high demand and not enough supply. This was evident in the large proportion of sales being within the premium price bracket, the report noted, with almost 70 per cent of homes within the inner ring selling for $1.1 million or more in the first half of 2021.

Houses in the middle ring also recorded strong growth, up 27 per cent on the 2017 level to a median of $935,000, while units were up 17.4 per cent to $505,000.

Record-low vacancy rates and increasing rental prices and yields made it a good city for investment, the report noted. The largest annual rent hike was for two-bedroom inner-city units, with the median jumping 17.2 per cent.

 

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Brookfield brings forward Rivello, Hamilton construction start after quick 80% apartment sales success

Brookfield Residential Properties’ managing director Lee Butterworth said the building program had been brought forward by six months

Construction of Brookfield Residential Properties’ Rivello apartment tower in Hamilton on the Brisbane River will start in October.

The commencement is six months earlier than scheduled after $118m in sales were secured within weeks of the development’s August launch.

More than 80 per cent of the 150 one, two and three-bedroom apartments, sub-penthouses and penthouses in Rivello have been sold off-the-plan.

Rivello 15 Wharf Street, Hamilton QLD 4007 

The sales include two penthouses at $5.5 million each at the 15 Wharf Street, Hamilton project.

Urban reported on its launch that it had been the higher end apartments in the $147 million, 21-level building designed by Cottee Parker Architects which had been among the first to sell.

Brookfield Residential Properties’ managing director Lee Butterworth told the Courier Mail it was “a significant achievement to reach this sales milestone so quickly.”

“It is a credit to the lifestyle-centred design and desirable Brisbane River position, together with the exceptional demand in the market.”

Two bedroom apartments were priced from $605,000.

Completion is now scheduled in late 2023 with Brookfield noting the availability of building supplies had been factored into the development program by the Tomkins Commercial and Industrial Builders.

Rivello is the ninth building to be developed at Portside by Brookfield.

The new building will be developed on a 2,829 sqm site, neighbouring Brookfield Residential Properties’ most recent residential projects – Gallery House One and Two.

 

Article Source: www.urban.com.au

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First home buyer and investor demand soars at Cube Developments Birtinya apartment project, Seasons

There’s been 25 sales in the past six weeks or so in the first stage release. Now Cube are looking at launching stage two

The busy Sunshine Coast developer Cube Developments has seen an unprecendented uptake in apartments over the last six weeks, securing nearly $16 million in sales in their Birtinya apartment development, Seasons.

The keenest buyers have been first home buyers and investors, who have been attracted to the affordable $499,000 entry point for a two-bedroom apartment in the Cottee Park-designed development.

There’s been 25 sales in the past six weeks or so in the first stage release. Now Cube are looking at launching stage two.

Scott Juniper, Cube’s director, said buyers have been attracted to the project’s plethora of amenities and location.

Seasons Birtinya 1 Prosperity Drive, Birtinya QLD 4575 

“We’ve witnessed strong uptake from both first home buyers and investors who are drawn to Seasons’ amenities, which provides incredible value for money given the price point,” Juniper says.

“All while being located in the heart of it all, Birtinya is really starting to come into its own; residents will enjoy waterfront vistas, beach access is just moments away and as it is a relatively new suburb, it has fantastic infrastructure to cater to demand.”

Amenities include outdoor BBQ and gathering spaces, private dining room, lounging areas, sun decks, a 25-metre lap pool, fully equipped gym, yoga studio, spa and sauna.

“Purchasers have also been eager to secure something in today’s market as opposed to bidding it out at auction and being overpriced,” Juniper added.

“A perfect example is the latest Birtinya home that saw 16 bidders partake in front of a packed street. buying off the plan allows purchasers to secure today’s market rate, which is likely to only increase as demand for this suburb soars.”

Cube commissioned Timothy Birch Studio to install a large scale public art that scales the sides of the building, which has been another drawcard for buyers.

Fusing architecture, materiality and art, the installation will scale tower one and tower two, spanning up to seven stories.

 

Article Source: www.urban.com.au

 

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Villawood Makes $40m Windfall On Helensvale Land

Developer Villawood Properties has offloaded a tract of land next to its $500-million The Surrounds development at Helensvale for $60 million.

Villawood acquired the land three years ago for about $20 million, and had planned to build a 1500-apartment transit-oriented development next to the Helensvale train station.

The Queensland government acquired the vacant 19ha parcel of land last month, its second transaction with Villawood Properties in the area, after it acquired a site where 25 houses had been planned in 2019 for $14 million.

The land has been resumed for the Coomera Connector for the M1 highway duplication project.

The site had been earmarked by the Gold Coast City Council for a transit-oriented development and Villawood had begun planning for a 1500-dwelling high-density housing precinct near the train station.

▲Almost 20 hectares of Villawood Properties landholdings at Helensvale have been carved off to make way for the M1 Coomera Connector. Image: Villawood 

It was also to include an aged care or retirement community, and buildings of up to 10 storeys.

Villawood Properties also has communities at Tallebudgera and Logan and has just released Dawn Edition, a 54 terrace house development with Azure Development.

The $30-million project is the final release in the $500-million, 620-lot The Surrounds development.

Villawood Properties was approached for comment. It is unclear whether the group will look to consolidate its holdings at Helensvale or look further afield across the booming Gold Coast.

 

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More buyers make the lifestyle switch to Queensland’s luxe apartment market

Enticed by panoramic sea views more mesmerising than a Monet and urban positioning that feels a world away from the concrete jungle, empty-nesters are cashing in their multimillion-dollar estates for luxury apartments along the south-east Queensland coastline and injecting life into a market that’s been idle for years.

From Noosa’s sparkling shores to the cliffs of Brisbane’s elevated inner-city pockets that take in views from the serpentine river to Main Beach and its golden dunes, prices for penthouses and whole-floor apartments have soared by up to 30 per cent in a year, with experts now describing the high-end unit market as a marathon that’s hit its stride.

It’s already seen the luxury unit sector match the record-setting pace of houses, with buyer demand for creative, spacious abodes so significant that many apartment hunters are splashing millions on homes in buildings that are yet to receive development approval, says Place Estate Agents Kangaroo Point director Simon Caulfield.

“The [prestige apartment] market is the best we’ve ever seen … days on market have dropped significantly, and prices are rising,” Caulfield says.

“We recently re-sold an apartment at 2 Scott Street, Kangaroo Point [in the Walan building] that bettered the two previous sales there from late last year.

“Both of those apartments had a third car park and were higher up … they sold for $4.4 million and $4.375 million. The one we just sold had two car spaces, and it transacted for $4.5 million.”

And it’s Brisbane-based downsizers and empty nesters that are leading the charge, he says.

“In Brisbane, I think locals still have a lot of control here because there’s a lot of swapping of capital here. They are selling their big houses for a few million and then buying an apartment for the same price,” he says.

18E/39 Castlebar Street Kangaroo Point QLD 4169 

“The infrastructure has helped the sector a lot as well … everything is driving people to live closer to the city, so this market has legs for a long time. We’re running a marathon, and we’re halfway through.

Caulfield, who is marketing an exquisite five-bedroom penthouse at 18E/39 Castlebar Street, Kangaroo Point, for about $6 million, says properties like these are now fetching as much as high-end estates.

“Castlebar is in a unique proposition, and it’s significant because it’s a full-floor penthouse and it has a 26-metre frontage, which is quite rare. The proportions of the property are as large as you’re ever going to see in an apartment, and you’ve got a 20-metre private mooring as well.”

Down on the Gold Coast’s perennial popular Main Beach, Ray White Prestige agent Robbie Graham says local downsizers have set the luxury apartment market on fire.

“I don’t know an apartment market more aggressive than Main Beach … the prices being achieved are substantial, and that’s driven by the lack of properties available,” Graham says.

7/35 ‘Jade’ Northcliffe Terrace, Surfers Paradise QLD 4217 

“There’s a [three-bedroom] property that sold at 6/3531 Main Beach Parade for $5.5 million in October last year, but the new owners weren’t really ready to make the move. I sold it two months later, on Christmas Eve, for $6.3 million.

“Another property that didn’t even make it to the papers just sold on 41 Rankin Parade, Main Beach, and it was the highest price ever paid for a non-beachfront. It went on the market on a Friday and sold on the Monday for $5.3 million … people want convenience and lifestyle.”

While the Main Beach and its surrounds market is yet to soar to Sydney or Noosa heights, Graham says, buyers are paying $20,000 a square metre for luxury apartments – and looking for creative designs.

That creativity abounds in the 7/35  Northcliffe Terrace Surfers  Paradise– a home so gargantuan it has been dubbed the pinnacle of Gold Coast beachfront living.

Further north on the Sunshine Coast, where house-price growth has hit national headlines, the region’s unit market has also climbed to record heights after median prices in Sunshine Beach jumped $212,500 in 12 months, according to a recent Domain report.

Unlike its southern counterparts, the growth here is being fuelled by interstate and Brisbane buyers, says Tom Offermann, of the eponymous property firm.

“There’s been a trend shift from investment buying to lifestyle buying here … a lot of people who are choosing to live here full-time work from home … and now we have around 10 people bidding at every auction, so each sale is generally creating a new price level,” he says.

In March last year, Offermann’s office transacted the Sunshine Coast’s highest-priced apartment sale of all time, collecting $14 million for a 242-square-metre penthouse at 8 Noosa Court, Noosa.

They sold another apartment for $8 million just down the road earlier this year, with a pristine three-bedroom unit at 8/81 Hastings Street, Noosa Heads, tipped to sell for a similar price at auction on September 18.

Offermann says 8/81 Hastings Street is particularly special because it “is literally 25 metres across the road from Noosa Main Beach … as well as having wide terraces overlooking the bay with three bedrooms in a prestige building of only nine apartments”.

He says prices in Noosa are expected to climb further in the months ahead.

8/81 Hastings Street, Noosa Heads QLD 4567 

 

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