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10 QLD suburbs that smashed records in 2017/18

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10 QLD suburbs that smashed records in 2017/18

Andrew Stone and Naomi Freney with their kids Remy Freney 6, Chelsea Stone 7 and Easton Freney 10 at the house they recently bought in Bundall, where the median house price recently burst through the $1m barrier.Source:News Limited

THEY are the state’s high achievers.

The suburbs that have outperformed their peers in the residential property stakes; breaking records for sale price, number of sales, days on market or for smashing through the million-dollar median price ceiling.

Benchmarks have been beaten in blue-chip areas like Ascot, Sunshine Beach and Surfers Paradise, as well as suburbs on the rise, including Kalinga and Underwood.

Records were smashed in at least 10 suburbs across the state in the past 12 months— an indicator of a shortage of stock and increase in demand in a number of competitive markets.

Here are some of Queensland’s benchmark busters of 2017/18:

ASCOT

The standout record-breaker in Brisbane was the sale of the trophy home of Domino’s Pizza boss Don Meij in Ascot.

The $11 million sale price of 27 Sutherland Avenue in March set a new record for the inner-city, blue-chip suburb.

It was also Brisbane’s highest sale of the past financial year.

10 QLD suburbs that smashed records in 2017/18

This home at 27 Sutherland Ave, Ascot, sold for $11m.Source:Supplied

Patrick McKinnon of Place Ascot, formerly of Coronis Hamilton, brokered the deal and said Mr Meij sold after receiving an off-market offer from a buyer who had fallen in love with the property.

Set on a sprawling 2024 sqm, the lavish home has six bedrooms, six marble ensuites and a jaw-dropping outdoor entertaining space with resort-style gardens, infinity-edge pool, pool house with outdoor kitchen and verandas.

10 QLD suburbs that smashed records in 2017/18

Inside the home at 27 Sutherland Ave, Ascot.Source:Supplied

BRENDALE

The fastest selling suburb in Queensland is Brendale in the Moreton Bay region, where the median house price is still an affordable $461,000.

It takes, on average, just 11 days to find a buyer, according to CoreLogic.

According to the latest Census data only 14.5 per cent of properties in the suburb are houses. With so few houses available, demand can be strong when something new is listed.

BUDERIM

The Sunshine Coast hinterland suburb had the highest number of houses change hands in 2017/18, with 573 houses selling in the 12 months to May, according to CoreLogic.

The owners of a majestic property at 10 Orme Rd, Buderim, that once hosted royalty have embarked on a new push to sell it.

10 QLD suburbs that smashed records in 2017/18

Buderim House at 10 Orme Rd, Buderim, is for sale.Source:Supplied

With all the focus on the royal newlyweds of late, it’s only fitting this heritage-listed Queenslander now holds extra appeal, given it was the residence of choice for the Duke of Gloucester during a royal visit in 1934.

The grand residence on 6315 sqm was built circa 1913 on the highest point of the northern slope of Mt Buderim, overlooking the Maroochy coast and river valley.

10 QLD suburbs that smashed records in 2017/18

Inside Buderim House at 10 Orme Rd, Buderim, which is for sale.Source:Supplied

BUNDALL

This Gold Coast suburb made the million dollar club for the first time in 2017/18, with its median house price now $1.05 million.

The sale of a waterfront mansion at 8-10 Marseilles Court this year for $9 million also broke the suburb’s sale price record — trumping the $8 million sale achieved in 2009 for a house in the same street.

The resort-style home has five bedrooms and seven bathrooms and is on a huge, 2703 sqm riverfront block.

REIQ Gold Coast Zone chairman Andrew Henderson said the new record was not surprising given the Coast’s strong market and he was confident property values would continue to soar.

Andrew Stone and his partner, Naomi Freney, recently bought a five-bedroom house, which they renovated, in Bundall for $620,000.

Mr Stone said he considered it a bargain given how tightly-held the suburb had become and the increase in house prices.

“I think we probably hit pot luck with that place,” Mr Stone said.

“People had been saying that area was going to go up 20 years ago and all of a sudden, it’s growing and there’s not a lot of turnover anymore.”

Ben Latimer of LJ Hooker Southport said Bundall’s transformation into a record-breaking suburb had happened gradually.

“It’s desirable because it’s so close to everything and there’s a good mixture of waterfront and dry blocks,” he said.

Paul Nikolas agrees.

He’s been buying, renovating and selling homes in Bundall for the past six years.

The last house he sold there earned him a profit of around $700,000.

He’s now selling his latest project at 19 Donegal Crescent for a cool $3.995 million.

“I’ve found a niche market here — nice, older properties on the water,” Mr Nikolas said.

10 QLD suburbs that smashed records in 2017/18

This house at 19 Donegal Cres, Bundall, is for sale.Source:Supplied

10 QLD suburbs that smashed records in 2017/18

The view from the house at 19 Donegal Cres, Bundall.Source:Supplied

COORPAROO

The inner Brisbane suburb achieved a new sale price record when a landmark house sold for $5.025 million just last month.

Designed by architect Eric Trewern, the English-inspired home known as Thongabel at 4 Welwyn Crescent captures views of the entire Brisbane City skyline.

10 QLD suburbs that smashed records in 2017/18

This house at 4 Welwyn Cres, Coorparoo, sold for a record price for the suburb.Source:Supplied

The five-bedroom, three storey house had been renovated with architectural features including Tulip Oak timber floors, Italian tiles and travertine.

Other highlights included a library, gym, climate controlled wine cellar, formal office, heated lap pool, heated horizon spa and outdoor space for kids to play.

Just 4km from the CBD and with a number of good Catholic and private schools on offer, Coorparoo has become one of Brisbane’s most sought-after suburbs.

The median house price sits at $875,000, according to CoreLogic.

10 QLD suburbs that smashed records in 2017/18

Inside 4 Welwyn Cres, Coorparoo, which sold for $5.025m in 2018.Source:Supplied

KALINGA

The tiny, up-and-coming suburb in Brisbane’s inner north made it into the million dollar club for the first time in 2017/18.

Its median house price broke through the $1 million barrier in late 2017 and currently sits at $1.04 million.

In November, 2017, records show the offmarket sale of a house at 119 Nelson Street for $4 million set a new price record for the suburb.

MANLY

Brisbane’s bayside is a sleeping giant only held back by lack of stock, according to one of Manly’s leading agents.

The suburb set a new sale price record for both houses and units in the past financial year.

Marc Sorrentino of Place Manly recently sold a unit in the seaside suburb for a whopping $1.2 million — smashing the previous record price paid for an apartment there by $345,000.

10 QLD suburbs that smashed records in 2017/18

This apartment at 301/177 Melville Tce, Manly, has sold for $1.2m.Source:Supplied

A couple from Sydney snapped up the luxurious three-bedroom, two-bathroom pad at 301/177 Melville Terrace, which had been advertised for offers over $1.1 million.

The median unit price in Manly, just 15km from Brisbane’s CBD, is $485,000, according to property research firm CoreLogic.

Late last year, Mr Sorrentino sold a family home on a huge, waterfront block at 497 Royal Esplanade for $3.9 million — smashing the suburb record for the sale price of a house.

10 QLD suburbs that smashed records in 2017/18

The sale of this house at 497 Royal Esp, Manly, set a new record for the suburb.Source:Supplied

“I keep saying it’s Australia’s best kept secret, but you watch. The prices are just going to keep going up and up and up,” he said.

“There’s just been a lack of good stock.”

SUNSHINE BEACH

The sale of a beach house in Sunshine Beach for $18 million in March set a new price record for the entire Sunshine Coast region.

10 QLD suburbs that smashed records in 2017/18

This mansion at 21-23 Webb Rd, Sunshine Beach, QLDSource:Supplied

The seven-bedroom, eight-bathroom property at 21-23 Webb Road was bought by David Russell, the owner of private equity group Equis Energy.

Just streets away, former tennis star Pat Rafter’s beachfront home sold for $15.2 million to Betty’s Burger founder David Hales, within weeks of the Webb Road sale.

10 QLD suburbs that smashed records in 2017/18

The former home of tennis star Pat Rafter at 46 Seaview Tce, Sunshine Beach.Source:Supplied

SURFERS PARADISE

A whopping 1398 units were sold in the Gold Coast’s glitziest suburb in the past financial year — more than any other property type in any other suburb.

It seems only fitting then that the most expensive penthouse Queensland has ever seen is under construction in Surfers Paradise.

10 QLD suburbs that smashed records in 2017/18

An artist’s impression of one of the apartments inside the Spirit 89 tower at Surfers Paradise.Source:Supplied

Priced at a whopping $41m and spread across two full floor levels, the highest home in the $1.2 billion Spirit 89 building easily tops the list of Queensland’s most expensive penthouses.

The 1899sq m sky home will also be one of the largest in the country, almost twice as large as Hong Kong billionaire Tony Fung’s $7.95 shell of a penthouse in the Soul building, and just a fifth smaller than the hyper-exclusive Boyd Residence above ANZ Tower in Sydney — which at $66m is Australia’s most expensive penthouse.

“Without the spire on Q1, it is the tallest residential building in Queensland,” agent Julian Sutherland of Ray White Projects told The Courier-Mail.

10 QLD suburbs that smashed records in 2017/18

An artist’s impressions of the Spirit 89 tower at Surfers Paradise.Source:Supplied

UNDERWOOD

The working class suburb in Brisbane’s south experienced the highest capital growth in Queensland in the past 12 months.

The Logan suburb’s median house price climbed nearly 25 per cent to $601,345 in the past financial year.

Underwood’s median house price also jumped a massive 65.6 per cent between May 2008 and May this year — the highest growth of any Brisbane suburb in the past decade.

CoreLogic senior research analyst Cameron Kusher told The Courier-Mail it was “a bit surprising” given the suburb’s location, 17km from Brisbane’s CBD, but its affordability and access to the highway and Gold Coast made it attractive.

“But its median (house) price is now up over $600,000, so it’s not really that cheap anymore,” Mr Kusher said.

Source: brisbaneinvestor.com.au

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Market Place

Top 68 suburbs for growth in Queensland revealed

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Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.

Top 68 suburbs for growth in Queensland revealed

Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.

The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.

Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:

  • Spring Mountain with growth of 103.6 per cent;
  • Collinsville with growth of 46.2 per cent;
  • Minyama with growth of 45.8 per cent;
  • Hamilton with growth of 32.9 per cent;
  • Hollywell with growth of 30.5 per cent;
  • Miles with growth of 23.5 per cent;
  • Mount Coolum with growth of 21.9 per cent;
  • Dundowran beach with growth of 21.5 per cent;
  • Boonah with growth of 21.3 per cent; and
  • Idalia with growth of 21.3 per cent.

Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.

It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”

South-east Queensland

While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.

Of these, 15 suburbs were located in the Sunshine Coast region, with the highest growing being Minyama, which ranked fourth overall.

The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.

Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.

Regional Queensland

Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.

Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.

While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.

The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each

Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed

The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:

Rank Suburb Median price Capital growth over 12 months (as a percentage)
1 Blackwater $94,250 151.3%
2 Spring Mountain $450,000 103.6%
3 Collinsville $95,000 46.2%
4 Minyama $1,310,000 45.8%
5 Hamilton $1,442,000 32.9%
6 Hollywell $810,000 30.5%
7 Miles $148,250 23.5%
8 Mount Coolum $670,000 21.9%
9 Dundowran Beach $607,000 21.5%
10 Boonah $324,500 21.3%
11 Idalia $485,000 21.3%
12 Rasmussen $347,500 19.9%
13 Yaroomba $749,000 19.7%
14 Biloela $272,750 18.6%
15 Burnett Heads $317,000 18.1%
16 Tivoli $295,000 18.0%
17 Cashmere $690,000 18.0%
18 Walloon $370,000 16.7%
19 Sunshine Beach $1,400,000 16.7%
20 Noosa Heads $1,070,000 16.0%
21 Hope Island $739,750 15.7%
22 Ripley $374,000 15.4%
23 Sandgate $705,000 15.2%
24 North Ward $575,000 15.0%
25 Paddington $1,150,000 14.7%
26 Palm Cove $606,000 14.3%
27 Charters Towers City $142,500 14.0%
28 Pelican Waters $761,000 13.9%
29 Cooee Bay $313,000 13.8%
30 Mount Ommaney $944,000 13.7%
31 Fernvale $357,500 13.5%
32 The Range $380,000 13.4%
33 Landsborough $432,500 13.4%
34 Sunnybank $832,500 13.3%
35 North Mackay $270,000 13.2%
36 Whitfield $540,000 13.1%
37 Graceville $932,500 13.0%
38 Hendra $1,100,000 12.7%
39 Shorncliffe $840,000 12.4%
40 Moranbah $185,000 12.1%
41 Coes Creek $442,500 12.0%
42 Cooloola Cove $317,500 12.0%
43 Battery Hill $578,000 12.0%
44 Seven Hills $940,000 11.9%
45 Nundah $755,000 11.9%
46 Monkland $240,000 11.6%
47 Bongaree $470,000 11.6%
48 Clifton Beach $557,500 11.5%
49 Maroochydore $639,000 11.2%
50 Twin Waters $823,000 11.2%
51 Cambooya $322,500 11.2%
52 Tewantin $572,500 11.2%
53 Coolum Beach $675,250 11.2%
54 Kedron $744,500 11.1%
55 Sunrise Beach $820,000 11.0%
56 Oakey $241,500 11.0%
57 D’aguilar $416,000 10.9%
58 Mountain Creek $610,000 10.9%
59 Flinders View $371,500 10.9%
60 Highland Park $570,000 10.7%
61 Rosewood $291,000 10.7%
62 Bulimba $1,300,000 10.6%
63 Kirkwood $353,500 10.5%
64 Woodgate $402,500 10.3%
65 Railway Estate $309,500 10.1%
66 Auchenflower $1,070,000 10.0%
67 Rainbow Beach $489,500 10.0%
68 Ormeau Hills $530,000 10.0%

Source: brisbaneinvestor.com.au

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Market Place

Four Gold Coast suburbs see double digit property price growth

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Four Gold Coast suburbs see double-digit property price growth

Four Gold Coast suburbs see double-digit property price growth. The property price boom has continued on the Gold Coast, with four suburbs seeing massive double-digit growth over the last 12 months.

Almost 70 Queensland suburbs delivered double-digit growth over the 12 months to June, according to the latest research from the Real Estate Institute of Queensland.

The waterfront suburb of Hollywell was the best performer on the Gold Coast, coming in at sixth with a capital growth of 30.5 per cent.

The median house price in the area is now around $810,000.

Hope Island came in 21st with prices increasing 15.7% to a median of $739,750.

Highland Park ranked 60th an increase of 10.7% to $570,00 while Ormeau Hills scraped in at 70th with 10% increase to $530,000.

REIQ CEO Antonia Mercorella said while many headlines predicted doom and gloom for the property market, the reality was very different with many markets in Queensland performing exceptionally well.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” she said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

She said it was good to see the suburbs delivering good growth are not all focused in the southeast corner.

“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.

Four Gold Coast suburbs see double digit property price growth

List of Top Performing Suburbs in Queensland (Supplied REIQ)

Four Gold Coast suburbs see double-digit property price growth

Reference: MyGC.com.au

 

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Gold Coast Athletes’ Village Get New Name, Hits the Market

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Gold Coast Athletes’ Village Get New Name, Hits the Market

Gold Coast Athletes’ Village Get New Name, Hits the Market

Gold Coast Athletes’ Village Get New Name, Hits the Market. The former site of the Gold Coast Commonwealth Games Athletes’ Village looks set to become a thriving community “unlike anything the Gold Coast has seen”.

In a first for the Gold Coast, all 1,251 apartments and townhouses in the $550 million Grocon-built Athletes’ Village will be offered solely for long-term rent.

The new residential and retail centre will include 18 apartment buildings, 82 double-storey townhouses and will be called “Smith Collective”.

At the heart of the precinct will be a 6,280sq m retail and dining hub, with major supermarket chain Woolworths and retail giant BWS already securing tenancies.

The land is still formally owned by the state government and held under a lease agreement to a company jointly controlled by developer Grocon and global investment bank UBS.

Gold Coast Athletes’ Village Get New Name, Hits the Market

 

Gold Coast Athletes’ Village Get New Name, Hits The Market

Gold Coast Athletes’ Village Get New Name, Hits the Market. All 1251 apartments in the former athletes village will be offered solely for long-term rent

Michael Woodrow, executive director of Smith Collective project manager UBS Asset Management, said international trends showed people were increasingly willing to forgo homeownership in favour of the quality of lifestyle and location offered by precincts such as Smith Collective.

“Research shows that while an increasing number of people want to live where they work, shop and play, they also yearn for the security of long-term leases and ability to add personal touches to their homes,” Woodrow said.

“By maintaining ownership of Smith Collective’s residential offering, we are able to grant those wishes and help our residents and retailers build a sense of community often lost within large-scale urban developments.”

Woodrow highlighted that Smith Collective’s new name was relatable and reflective of the future community.

“As the most common surname in Australia and one of the 10 most common in the world, ‘Smith’ highlights that the community really is for everyone,” Woodrow said.

The name was also chosen as a geographical link to the Smith Street Motorway, which the complex is situated on.

Set among seven hectares of parkland, the community is located within close proximity to Griffith University’s Gold Coast campus, Gold Coast University Hospital, Gold Coast Private Hospital and the Southport CBD.

Global real estate services company JLL has been appointed to manage the site with dwellings set to be released in stages as the community grows.

A community of 2,500 academics, students, scientists, doctors and nurses is expected once complete.

Internal works, on the “bright and airy” self-contained apartments and townhouses, are set to be completed in December.

Source: theurbandeveloper.com

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