The Gabba Insider | December 2019

Market Update: 'Tis the season to go to market

The traditional approach of retiring property marketing for the holiday season may be a mistake according to buyer behaviours in southeast Queensland. Data shows that in January there are typically 44 per cent more buyers than any other month and with the quality of buyers improving, this shows there is a genuine need for them to buy.

While many others use this time for rest and relaxation, Place Woolloongabba encourages vendors to stay active in the market to remain competitive when there are fewer listings, leaving sellers wide open for successful results. Shopping for property during the holiday period indicates a sense of urgency from buyers, which ultimately results in homes being on the market for less time, producing strong clearance rates.

Place Woolloongabba Co-Director James Curtain said that staying active in the market over the summer holidays is giving vendors a head-start on their competition.

“In recent years we’ve seen almost $150 million worth of sales during summer in the Brisbane property market and this year looks to be just as fruitful,” Mr Curtain said.

“With a successful spring selling season concluding, buyers are still attending open homes in record numbers, showing signs of confidence for summer which will likely result in optimal results for vendors.”

Place Woolloongabba is showcasing a range of premium properties this festive season, some of them include:

10 Glyn Street, Coorparoo

3/76 Thorn Street, Kangaroo Point

72 Elliot Street, Hawthorne

17A Bede Street, Balmoral

6 Skyline Crescent, Carindale

Market update: Auction Activity abuzz in Brisbane's inner city

There are many benefits of selling an inner-city Brisbane home at auction, including the appeal of an unconditional contract, having a pool of healthy competitive buyers and creating a buzz of marketing hype for your home.

With the trend of auctions increasing in the Sunshine State’s capital, data shows that the Brisbane property market is hosting a resurgence of auctions with an average of 4.05 buyers registered to bid, a dramatic increase on the previous year.

Chief Auctioneer at Place, Peter Burgin, said the auction market in Brisbane has made a dramatic comeback after the 2018/19 financial year and that since the start of September numbers have increased substantially, indicating significant buyer confidence as we head into summer.

“Auctions appeal to vendors because they result in qualified and prepared buyers who know what they want,” Mr Burgin said.

“The feedback we have received is that most buyers prefer this style of sale because they get a better sense of fair market value and a snapshot of their competition. This means that on the day, they can use their own research in conjunction with the auction activity to gauge what’s reasonable for them.”

“It would be a fair prediction that in 2020 and beyond we will see significant increases in the amount of property going to auction and this will be a trend continuing throughout Brisbane’s inner-city fringe.”

To experience a Place Woolloongabba auction for yourself, head along to these properties:

1502/140 Alice Street, Brisbane City

Auction: 11 December at Coco Republic Showroom

50 Heath Street, East Brisbane

Auction: 3PM, on-site Saturday 14th December

21 Marriot Street, Coorparoo

Auction: 5PM, on-site Saturday 14th December

26 Gillan Street, Norman Park

Auction: 11 December at Coco Republic Showroom

Property Insights

The grass is greener at summer inspections.

Summer in Queensland involves sunshine, warm weather and friendly faces. It’s no surprise that walking into an open home of a well-presented property in Brisbane on a vibrant Saturday morning might just trigger just the right mix of buyer sentiments needed to achieve the perfect sale.

Ensuring a breezy Brisbane home showcases the best of its liveable appeal to home buyers is something the Place Woolloongabba team turns to the experts for. From inviting pool grounds, lush landscaping and decadent décor, Place Woolloongabba’s styling partners offer only the most polished solutions.

Brooke Jennings from Brooke’s Blooms is a professional horticulturalist with a reputation for delivering inspired, innovative designs and workmanship of the highest quality. After working in the industry for many years, Brooke sought to create a company that infused the same passion as clients held for their own gardens and outdoor spaces.

Q. What was your inspiration for the garden at 50 Heath St in East Brisbane?

A. It is a traditional Queenslander in a great location which had tired gardens and lawn. There were a few areas around the exterior of the home that were unfinished and begging for some love. When selling a property, you don't want to over capitalise on the money spent. We made sure to choose the right plants that gave us the ‘wow factor’, so we didn't need to go overboard on quantity.

Q. Tell us about the brief and how you made it work…

A. The client didn’t want to compromise on quality but also did not want to spend a fortune, they also wanted the new gardens and lawns to be practical for the potential new home owners. There’s no denying the weather is dry and hot which can make it difficult to establish new turf and gardens, but with the right lawn choice and plants you can still create the perfect oasis without worrying about water. We chose a quality turf from an accredited supplier which was rough and hardy and the plants selected could survive without much water once established. We also repaired areas that had to be fixed to make everything more presentable.

Q. What do you think optimises the quintessential Queensland garden in summer?

A. A beautiful green lawn and a flowering Frangipani - and a nice pool to jump into!

Q. What’s your favourite garden style at the moment?

A. A modern native garden. This is my choice for many reasons - I feel very connected to the Australian flora and fauna. I’m also very conscious about choosing plants that can tolerate our climate which can be hard and harsh, we are suffering some terrible times at the moment with all the bush fires and drought, so choosing plants that can thrive in these conditions is both practical and sensible. I’m a fan of all styles, though. I love roses, flowers and anything that is scented.

Capture

Suburb Snapshot

Coorparoo

With stunning city views and surrounded by parks and playgrounds, Coorparoo is a family-friendly inner-city pocket of Brisbane with city conveniences close by. With bustling cafes and eateries abound and easy access to this city, the historic suburb of Coorparoo offers an unbeatable lifestyle for those looking for a comfortable family lifestyle.

Coorparoo’s Lead Agent Ben Smith said Coorparoo offers a wide variety of living options from luxurious family homes to convenient apartment living.

“Coorparoo’s drawcard feature has to be amenities. Coorparoo and its immediate surrounds really have everything. We've got cinemas, bars, restaurants and cafes, some incredible schools (both private and public) and an abundance of public transport options, and it’s all only a couple of kilometres from the CBD. What Coorparoo offers to every demographic of buyer is unmatched.”

Population: 16, 282

Proximity to CBD: 4km

Median house price: $910,000

Median price change (one year): 5.12%

Average days on the market: 56

Rental income house: $520 per week

Average visits per property: 587

Coorparoo shot

Agent Profile

Ben Smith

Q: Coorparoo is transforming and is in high demand. What do you foresee for property market over the next 12 months?

A: There will be terrific growth to the Coorparoo housing market over the next year - buyer confidence is back and open homes are busy. Coorparoo will always be a popular suburb and experience consistent growth with natural buyer competition as it offers something for any demographic of buyer.

Q: Is there a property aspect you have noticed the typical local buyer is looking for?

A: One of the things I love about Coorparoo is the variety of property on offer. We've got small lot houses and townhouses up to multi-million dollar family estates, and 30sqm studio apartments to multi-level penthouses. Being so close to the CBD with so many amenities on offer, we meet buyers looking for all of those and everything in between. Coorparoo's most competitive market would have to be family homes, it's such a great area for families.

Q: Can you tell us about a stand-out property you’ve experienced in Coorparoo recently?

A: I had the pleasure of selling two big statement homes recently; 7 Mackay Street which is also known as ‘Garnet Hill' and was one of the first homes in Coorparoo having been built in the 1880s; and 14 Verry Street named Hancock House - the home of a then-famous timber merchant H.R. Hancock. There's something really special about being involved with homes steeped in so much history.

Q: We’d love to know a bit more about your personal taste in property, Ben! What is a unique feature you’d include in your dream home?

A: I'd love to have a big block of land for our house - a 1930s stucco brick would be beautiful - and enough land for an AstroTurf soccer field, cricket net and a pool when we have kids.

Ben Smith

Gabba Grabs

Place Woolloongabba celebrates community

Woolloongabba has historically been one of the focal points of Brisbane since the late 1800s thanks to its integral role as a major transportation hub for the Brisbane region. Having been established as a vital piece of the business community in the area, the Place Woolloongabba team is embedding themselves into the fabric of the community as it evolves at a rapid rate.

The End of the Line Festival is an annual celebration of the existing cultural condition of Woolloongabba and highlights its value as a valid and necessary starting point for future development. With the precinct changing swiftly, Place Woolloongabba is excited to contribute to the shift in the demographic and the nature of the businesses that exist here.

Place Woolloongabba is proud to have been a sponsor of the 2019 festival. Thank you to the organisers for creating a lively and well-planned event which brought our community together for great music, good food and new memories. We look forward to The End of the Line Festival 2020!