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Why people will live in 38sq m lots on the Gold Coast

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Why people will live in 38sq m lots on the Gold Coast

A ‘MICRO’ lot believed to be the smallest in Australia is being developed on the Gold Coast and it’s tipped to pave the way for a surge of micro-housing projects.

A STANDARD residential lap pool. A living room in a Sovereign Islands home. The master bedroom and ensuite of a Main Beach penthouse.

You wouldn’t think those dimensions would fit an entire home, but that’s exactly what new buyer Wendy Nutt is preparing to move into in Southport, and she isn’t at all concerned about a downsize.

“I currently rent a single converted garage, so I live in 22sq m at the moment,” she said.

“You don’t really need that much space, we find that if you have space you fill it.”

An artist’s impression of the Envi terrace home development.

An artist’s impression of the Envi terrace home development.Source:Supplied

The local process engineer said she and her husband, who works away, came across the Envi Urban Microvillage during their house hunt.

“We had been looking at packages, but land on the Gold Coast was out of our price range,” Ms Nutt said.

“We started looking at apartments and townhouses but I’m not keen on body corporate, and some apartments that were 60sq m, we were still looking at half a million dollars to buy.”

At just 38sq m in size, the smallest Envi terrace lot has a price tag to match, of just $300,000.

The home will have slightly bigger dimensions — the finished residence will be about 67sq m and be one of ten terrace homes available in the Envi village.

The design for Envi came from a “three-metre wide by nine metre terrace home in Vietnam”.

The design for Envi came from a “three-metre wide by nine metre terrace home in Vietnam”.Source:Supplied

Occupiers of Envi have chosen from the ‘pico pod’ — a one-bedroom, two-bathroom abode, the two-bedroom, one-bathroom ‘micro terrace’, and larger ‘urban pod’ (two-bedroom, two-bathroom) and ‘village home’ (three-bedroom, one study, two-bathroom).

The terrace homes feature a free flowing design, open timber stairs, higher ceilings and glazing on the front and back to encourage air and light cross-flow.

Already, seven of the micro homes have sold, with the remaining three under contract.

Gold Coast architect Amy Degenhart was a short-listed entry in the World Architecture Festival Awards for ‘The Micro’ model, built northwest of Brisbane.

Gold Coast architect Amy Degenhart was a short-listed entry in the World Architecture Festival Awards for ‘The Micro’ model, built northwest of Brisbane.Source:Supplied

Mrs Nutt is preparing for her ‘urban pod’ slab on lot five to be poured early next year, with an anticipated move in around August.

“We were able to design the kitchen and tailor the internal storage to suit our needs,” said Mrs Nutt.

The micro lot is believed to be the smallest freehold residential lots in Australia, and is comparatively tiny on the Gold Coast, where the average size of new developments is 462sq m.

Wendy Nutt will own the land and there will be no ongoing body corporate expenses. Photo by Richard Gosling

Wendy Nutt will own the land and there will be no ongoing body corporate expenses. Photo by Richard GoslingSource:News Limited

“You’ve got your terrace homes in Melbourne that are about four metres wide and have been around for ages, and that’s where the name Envi came from, because the Gold Coast missed out during that period of time,” said Amy Degenhart, director of architect Degenhartshedd.

“We were looking at New York, Sydney and Melbourne, and were envious in terms of their terrace homes.”

Ms Degenhart said older, established cities around the world were able to introduce terrace homes pre-town planning.

The design was inspired by a terrace home in Vietnam.

The design was inspired by a terrace home in Vietnam.Source:Supplied

The tiny house trend has emerged across the world, as an answer to increasing populations and property prices.

America offers the most bang for your buck, with a median micro house (152sq m and less) price of $155,455.

In London, affordable housing developer Pocket specialises in 38 sqm, one-bedroom apartments that carry an average price tag of $550,827.

Demand in Sydney’s housing market saw a 155sq m block with approved plans for a tri-level, two-bedroom home in Freshwater sell earlier this month for $500,000. Construction costs were estimated to be $450,000.

Collated property data revealed Sydney-siders are paying between $6,000 to $11,000 per square metre for a standard apartment, depending on suburb density.

Living small can have its appeal.

Living small can have its appeal.Source:News Corp Australia

Comparatively on the Gold Coast, the owner of the smallest Envi microlot will pay about $4,477 per square metre of liveable space.

Not only does the Envi project give the developing Gold Coast an opportunity to tap into the micro market, but also lead the way and potentially see high rises replaced by terrace homes.

“This is one of the first micro lots that are post town-planning and on a high rise lot,” said Ms Degenhart.

“They may be on small lots, but half as much can be twice as good when it comes to combining architectural design and touches of luxury, with prime Gold Coast real estate, a central location and an affordable price tag.”

Ms Degenhart’s developer client has pitched the design to an international audience, Google’s parent company, Alphabet, in the United States.

“It’s quite revolutionary and a pilot study for what can be achieved,” Ms Degenhart said.

Originally published: www.news.com.au

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Tiny unrenovated beach shack makes owners $1m profit in two years

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Tiny unrenovated beach shack makes owners $1m profit in two years

Riding the waves of the Gold Coast’s current buoyant property market, a classic two-bedroom beach house has just sold for an eyewatering $3.25m on the sandy shores of Palm Beach – making its former owners a princely $1m profit in just two short years.

While the retro property might not be much to look at, it’s not the beach shack itself that has drawn such a huge investment from its new owner, it’s the prime location of the listing…

Source: homes.nine.com.au

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Interstate migrants are moving to QLD … but they’re not coming to Brisbane

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Interstate migrants are moving to QLD

Less than 5 per cent of interstate migrants during the 2016-2017 financial year settled in Brisbane, according to data from the ABS. Photo: Glenn Hunt

Interstate migration to Queensland is booming but analysis shows most new residents are bypassing Brisbane for other regions in the Sunshine State.

Buyers’ agency Propertyology analysed ABS data, which showed there were 17,246 internal migrations to Queensland in 2016-17. But out of those, only 846 relocated to Brisbane, which equates to less than 5 per cent.

Propertyology managing director Simon Pressley said the lion’s share went to the Gold Coast, Sunshine Coast, Moreton Bay, Cairns, Ipswich and the Scenic Rim.

Interstate migrants are moving to QLD

Interstate migration to Queensland is strong but ABS figures reveal most of the new residents are relocating to regions outside of Brisbane, such as the Gold Coast.

“We’ve read a lot about interstate migration to Queensland lately and it’s been growing each year, which is great,” he said.

“The thing is, people automatically think Queensland means Brisbane but when you actually look closely at the numbers, they tell a very different story.”

As a proportion of total population growth over 2016-17, the biggest beneficiaries of interstate migration were Tasmania (22.5 per cent) and Queensland (21.9 per cent).

Interstate migrants are moving to QLD

The Sunshine Coast has had an influx of interstate migrants. Photo: Mike Swaine

House prices in the regions with the most internal migrations have mainly increased — house prices on the Sunshine and Gold Coasts have increased by 7.9 per cent and 3.3 per cent respectively over the past 12 months — although Mr Pressley said the correlation between population growth and house price growth was often overstated.

“I know logically it makes sense — if an area has a big surge in population, house prices should go up — but there’s much more to it than that,” he said.

“Jobs growth is a lot more important than population growth, so is wage growth, [and] affordability is also extremely important.”

Interstate migrants are moving to QLD

Moreton Bay’s affordable property prices and relaxed bayside lifestyle are drawing new residents from interstate. Photo: Ray White Redcliffe

REIQ Gold Coast zone chair Andrew Henderson said each of those factors was connected and all had contributed to the Gold Coast’s house price success in recent years.

“Our local economy is strong but it’s also changed. We’re no longer solely reliant on the tourism industry. The diversity of our job offering has changed,” he said.

“With new infrastructure like universities and hospitals, we’ve got people moving here from interstate into jobs who would have never been able to move here 10, 20 years ago.

“So the age of the people we’ve got moving here has also changed. We’ve always had a lot of retirees but we’ve noticed a surge in people in their 20s, 30s and 40s – people moving their whole families up here. Around Mermaid Waters and Clear Island Waters there’s a really strong southern presence.”

Andrew Campbell of Ray White Redcliffe said the influx of interstate migrants buying up locally in the Moreton Bay region had become apparent more recently.

“We noticed a dip in the interstaters for a while but recently they’ve started to come back and it’s about affordability. All the properties around that median price are really moving so quickly,” he said.

Domain Group figures show the median house price in Moreton Bay is $456,000.

“There’s a lot of first-home buyers who fly up here for the weekend from Sydney. They know they can’t afford to buy there so they’re moving here because they see you can buy a house for under $500,000, get the lifestyle and still only have to drive 40 minutes to work in Brisbane,” Mr Campbell said.

But Mr Pressley said interstate migrants were being “pushed” to Queensland, rather “pulled” as they were during the mining boom.

“People have always wanted to come to Queensland because of the good lifestyle, weather and affordable housing,” he said.

“In the past they came for those things but also because we created more jobs year after year than everyone else. Now, we’re not dragging here through job growth, they’re coming here by default.

“To me, that’s why interstate migration hasn’t translated into property prices yet … and that’s why only minimal people have gone to Brisbane.

“I anticipate that in the next 12 months we’re going to see another really strong year of interstate migration into Queensland; if our economy improves, then it could translate to property prices for Brisbane and all over Queensland. Overall though, this is a good news story for Queensland and Brisbane as well. It’s looking positive.”

Source: www.domain.com.au

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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Andrew Galloway is selling his investment property in Loganlea, which has been identified as one of Queensland’s most affordable growth suburbs. Image: AAP/John Gass.Source:News Limited

THESE are the best performing cheapie suburbs in Queensland. Find out which areas buyers on a budget should be targeting.

QUEENSLAND’S best growth suburbs for buyers on a budget are in lifestyle locations and affordable hot spots in Brisbane’s backyard, a new report has revealed.

For an investment property under $500,000 and with good capital growth prospects, look no further than Palm Beach on the Gold Coast, Noosaville on the Sunshine Coast and Loganlea, south of Brisbane, where values have increased by up to 20 per cent in 12 months.

The Top Affordable Suburbs Report, released by researcher CoreLogic, identifies suburbs where property values are below half a million dollars and have shown strong capital growth.

These suburbs are good targets for entry-level buyers, offering affordable real estate, improving infrastructure and strong track records that suggest ongoing strength.

Palm Beach holds the number one spot as the most affordable for capital growth in the state, according to the report.

Unit values in the beachside enclave have jumped 20.2 per cent in the past 12 months and more than 52 per cent in five years to a $471,758 median.

But you can still snap up a two-bedroom apartment a few streets back from the beach there for $379,000.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the apartment at 3/2 Brooke Ave, Palm Beach.Source:Supplied

After Palm Beach, the second most affordable growth suburb in the state is Noosaville on the Sunshine Coast, where unit values have gained more than 14 per cent in the past year to reach $486,468.

Alexandra Headland is also in the top 10 list compiled by CoreLogic, with units in the beachside suburb increasing in value by more than 12 per cent in a year.

But you can still get a two-bedroom unit with ocean views in the suburb for $429,000.

GOLD MINE FOUND IN BRISBANE BACKYARD

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom unit in Camfield St, Alexandra Headland, is available for $429,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This Alexandra Headland apartment is for sale for $429,000.Source:Supplied

CoreLogic senior research analyst Cameron Kusher said first home buyers were still active in Queensland and the more affordable end of the market was not facing the same pressures as the more expensive suburbs, which explained why suburbs like Loganlea, Ripley and Jimboomba were performing well.

“We are finding the lower end of the housing market is the higher value stock — even in Brisbane,” he said.

“We might not see the same gains over the next 12 months or three years, but there’s still going to be demand in these affordable markets.”

The latest CoreLogic home value figures reveal a strengthening of affordable and lifestyle locations, particularly on the Sunshine Coast, which recorded a 5.5 per cent increase in home values in the past financial year.

HOME FIT FOR HARRY AND MEGHAN

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Waterfront properties at Witta Circle in Noosa Heads on the Sunshine Coast.Source:News Corp Australia

Mr Kusher said the Gold Coast housing market was starting to cool off, but demand was still strong for the Sunshine Coast.

“These people from Sydney and Melbourne who want to buy a holiday property are looking at these areas and seeing pretty good value,” Mr Kusher said.

“I think that’s where the buyers are coming from.”

In Loganlea, about 25km south of Brisbane, house values have increased more than 14 per cent in the past year to a still very affordable $391,469.

Andrew Galloway is selling his investment property, which is on the market for just $339,000.

The four-bedroom, two-bathroom brick house at 10 Starling St, Loganlea, has been returning about $345 a week in rent.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This four-bedroom house at 10 Starling St, Loganlea, is on the market for just $339,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the house at 10 Starling St, Loganlea.Source:Supplied

Mr Galloway said the property had recorded solid capital growth in the past 11 years he had owned it and he had decided to take advantage of that.

“I think it’s achieved the capital gain it’s going to achieve in the time frame I’m going to have it,” he said.

Mr Galloway said he had noticed gentrification in and around the street in the past decade, which had made it more appealing.

Selling agent Pamela Anemaat of Raine & Horne Beenleigh said there had been an increase in large blocks in the suburb being subdivided by developers offering house and land packages, which had helped generate interest, particularly from first home buyers.

Mrs Anemaat said Loganlea was also popular suburb for investors because it was a high rental area and still so affordable.

“It is a feast for southern buyers, and they are moving up here and purchasing up here because they just can’t afford to buy a new home down there,” she said.

QLD’S 10 BEST PERFORMING AFFORDABLE SUBURBS

Suburb Property type Median value Value change Value change

12 mths 5 yrs

1. Palm Beach Units $471,758 20.2% 52.2%

2. Noosaville Units $486,468 14.4% 36.9%

3. Loganlea Houses $391,469 14.3% 43.8%

4. Mudgeeraba Units $399,637 13% 37.8%

5. Alexandra Headland Units $397,297 12% 36.6%

6. Ningi Houses $458,469 9.2% 11%

7. Jimboomba Houses $494,933 9.1% 22.1%

8. Ripley Houses $391,736 8.7% 23.9%

9. Elanora Units $372,760 8.6% 29.7%

10. Narangba Houses $493,418 8.3% 26.9%

(Source: CoreLogic, based on data to March 2018)

Source: brisbaneinvestor.com.au

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