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Hinterland areas rising in demand

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hinterland property

Analysis by CoreLogic has highlighted locations in close proximity to capital cities which have seen interest due to ‘tree changes’, that has been the result of a wide number of factors.

Analysed by Tim Lawless, CoreLogic’s head of research, there were three main factors behind the increased demand in tree changes.

The first was due to the ‘wealth effect’, with home owners – especially those in Sydney and Melbourne – previously seeing their own finances increase due to their property, as well as the rising number of baby boomers looking for holiday homes or downsizing options.

Telecommuting was the second factor, which allows for employees to work from home, thereby de-emphasising the need to travel to a physical location for employment.

Affordability is always an important choice, and in this case is Mr Lawless’ third factor, as analysis showed hinterland properties tend to be priced lower than those in coastal or big city areas.

The analysis took a look at key hinterland markets in six states:

NSW

Unsurprising to some, the hinterlands markets in NSW are on the more premium end of the market; the Southern Highlands area currently has a median price of $735,371, the Blue Mountains is currently at $619,778, while the RichmondValley – Hinterland is more on the affordable end of the scale with a median price of $335,718.

In the short-term of the last 12 months, these three areas have seen limited value growth, with the former two rising by 1.4 per cent and 3.2 per cent respectively, while the Blue Mountains entered negative territory, declining 0.7 of a percentage point.

Looking more mid-term over the last five years, a different picture is painted, with values in the Southern Highlands rising 9.3 per cent, the Blue Mountains rising 9 per cent, and the Richmond Valley – Hinterlands area saw a rise of 3.9 per cent

Victoria

Also in the more premium side of the market, noteworthy hinterland markets in Victoria are the Yarra Ranges and the Macedon Ranges with median dwelling values of $674,944 and $700,664 respectively. In the short term of the last 12 months, the Macedon Ranges has performed exceptionally with a rise of 7.5 per cent in value change, while the Yarra Ranges have been underperforming, declining by 0.6 of a percentage point. In the mid-term of the last five years however, the top performer switches with the Macedon Ranges growing only 2.6 per cent, while the Yarra Ranges have seen values rise by 7.8 per cent.

Queensland

Moving into more affordable territory, the Sunshine Coast Hinterland and Gold Coast Hinterland regions have median dwelling values of $539,292 and $593,954 respectively. Both these areas have experienced solid growth in the short- and mid-term; in the last 12 months, the Sunshine Coast Hinterland value rose by 2.2 per cent while the Gold Coast Hinterland rose by 8.1 per cent; the largest rise out of all of the key hinterland markets. Over the last five years, the ranking stays the same but the percentages normalise slightly; Sunshine Coast Hinterland saw values grow by 4.5 per cent and the Gold Coast Hinterland rose by 6.8 per cent.

Western Australia

The main hinterland regions for metropolitan Perth follow a similar trend to that of Perth itself – continued softening. Mundaring and Kalamunda currently have similar median dwelling values of $452,224 and $457,055 respectively. In the short-term of the last 12 months, these values have declined by 4.3 per cent and 5.7 per cent respectively, while in the mid-term of the last five years the declines are less severe with drops of 3.8 per cent and 2.6 per cent respectively.

South Australia

The Adelaide Hills region is the only noteworthy hinterland area according to CoreLogic, which has seen little success, but success none the less. With a median dwelling value of $494,166, this has been a rise of just 0.8 of a percentage point in the short-term of the last 12 months, and a rise of 2.1 per cent for the mid-term of the last five years. This puts Adelaide Hills as the smallest value growing hinterland market for both the short- and mid-terms.

Tasmania

The Central Highlands of Tasmania is the most affordable hinterland region analysed with a median dwelling value of $214,000, but it is delivering solid growth. In the short-term of the last 12 months, the Central Highlands saw dwelling values rise by 6.8 per cent, and in the mid-term over the course of the last five years, dwelling values rose by 5.1 per cent.

Source: www.smartpropertyinvestment.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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Market Place

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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