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Circa 1906 Courtesy of State Library of Queensland

Official opening of the Indooroopilly Toll Bridge Brisbane 1936

2011/2012 Movements in Indooroopilly Report Prepared by: Brett Andreassen 0421 723 713 brett@disher.com.au

www.disher.com.au


Welcome to the Movements in Indooroopilly Report. We hope you enjoy the information contained within and gain an insight in to the great place that Indooroopilly is to live!

Contents - Who is Brett Andreassen? - Comment on the market climate Houses - Indooroopilly Market Statistics: 3 Year Comparisons - Indooroopilly Market Statistics: 2011 to date - Residential Sales for 2011 - 2012

Apartments - Indooroopilly Market Statistics: 3 Year Comparisons - Indooroopilly Market Statistics: 2011 to date - Residential Sales for 2011 - 2012

- Indooroopilly’s Past and Present

I would like to thank my clients who assisted me in the information to put this report together.

Brett Andreassen 0421 723 713 brett@disher.com.au


Brett Andreassen - 2012 REIQ Salesperson of the Year - Finalist Achieving outstanding results is something that comes naturally to Brett Andreassen. He is committed to the best possible result, every time. Brett’s process-driven approach to selling has seen him establish a presence in the Inner Western suburbs, with clients consistently willing to engage Brett’s services, knowing that the sale will be handled with the highest professional service and attentiveness. Consistently monitored by other companies, Brett is always refining the sales process to give his clients the maximum opportunity at achieving the greatest price for their property, proven through the tremendous success of his “Special Preview Showings” and “Doug Disher Real Estate Quarterly Report”. From beginning to end and beyond, Brett understands the process of the real estate transaction, focusing on both the now and tomorrow, so that all clients, past – present – and future, are fully informed of the market and what to expect, from Brett’s comprehensive market knowledge. Brett is one of the few agents in Queensland asked to be interviewed on the international real estate audio program, Hot Topics. Brett’s results, experience and dedication to his clients, shows that it is no wonder more people trust him to sell their home.

“There is no shortcut to a great price, we have a process to extract the premium price in the marketplace at all times”

A small sample of testimonials Selling a property is always a stressful time, but when you are in NZ, trying to selling a tenanted house, you want to make sure that you have an agent that is more than capable. We selected Brett as our chosen agent after considering going with our managing agent. Although we felt they were capable of doing the job, we believed Brett had the right strategy to maximize price. And he definitely proved us right! Communication was a big part of the sale, and we were never left wondering what was happening, as he let us know via SMS, email and calls. Thank you so much for helping us out in a very stressful time. Meagan & Ian Roberts—Camp St Our property had been on the market for over 4 months with a big name company in Paddington, without a single offer. We thought that going with a large company would give us more exposure and get the property sold faster. We found out that this wasn't the case and didn't hear from them for two weeks! We sought Brett out as he had sold a couple of properties like ours while we were languishing on the market. Within 2 weeks Brett has secured a buyer, negotiated a good price in the current market and showed us why dealing with a specialist was well worth the investment. Thank you for saving us Brett! Vicki West—Bayliss St Thank you so much for keeping a cool head when everything seemed to be crashing around our ears! When we first sat down with you, you gave us a clear, concise plan to get the property sold. In three weeks, we had a contract that looked smooth. But of course, things went awry. An average building and pest inspection unearthed some problems and an 'over-enthusiastic' solicitor didn't help matters. But some cool negotiating by you kept everything together and thankfully we saw unconditional. Thank you so much for giving the right advice and seeing the larger picture. Don MacLean—Market St


Comment on the Market Climate The last 12 months can be described simply as a continuation of the 12 months prior to that. We have not seen the rebound in prices that many people have been hoping for, and the overall number of sales has dropped in most suburbs. Many people would deem this to be a buyers market, however, I must disagree. The drop in the number of sales has been counteracted by the drop in the average amount of properties on the market throughout the year, as sellers who were thinking about moving put their plans off or chose to renovate instead of upgrading. The amount of forced sales, in our area, are lower than what other areas are experiencing. External factors are having an impact on the real estate market, particularly confidence. The start of each month is spent by people commentating on rates, and will the banks pass on the full amount. In a strange way, we find that when rates drop, people hold off from making purchasing decisions, but when they increase, buyers move faster to secure a property. The change in government at the state level has brought some welcome relief for the property industry, with the rollback of the unsustainable sustainability declarations and the reintroduction of the stamp duty concession on the principle place of residence. This should see some confidence instilled in the upgrading market, as the savings may push people to take advantage of the concessions. Moving forward over the next 12 months, I believe it will be a continuation of the last 2 years. Until confidence returns to the market, we won't see the massive increase in prices that we were used to over the last decade. Getting the marketing and pricing right is critical to not only getting the property sold, but ensuring you don't undersell the home. The Inner West is not bulletproof, but when comparing the market we are in to others in Queensland, we are in a good place. The basic infrastructure is always going to be there, and the rental market underpinned by the university and our proximity to the CBD, we know this is one of the best places to live or invest across Australia.

Brett Andreassen June 2012


Indooroopilly Market Comparison: 3 Years How many houses have sold in Indooroopilly?

How many houses are for sale in Indooroopilly today?

What was the highest house sale price in Indooroopilly ?

What was the lowest house sale price in Indooroopilly?

What was the average sale price in Indooroopilly?

Which street has had the most sales in Indooroopilly?

What was the average weekly rental amount for houses in Indooroopilly?

*Figures correct as of the 1st June 2012.

2009/10

150

2010/11

77

2011/12

74

1st July 2011

55

As of 1st June 50

2009/10

$2,850,000

2010/11

$6,250,000

2011/12

$2,400,000

2009/10

$413,500

2010/11

$335,000

2011/12

$310,000

2009/10

$760,786

2010/11

$867,351

2011/12

$959,487

2009/10

Almeida Street

2010/11

Gordon Tce

2011/12

Market St

2009/10

$410

2010/11

$455

2011/12

$460


Indooroopilly Market Statistics - Houses


Did you know? In a recent survey conducted by rebonline.com.au on buyers dislikes, it revealed that - 75% of buyers were greatly deterred by properties without a price or guide. - 72% of buyers would overlook a property if it didn’t have an address - 68% of buyers would overlook a property if it was advertised as offers over. Why would you miss out on most of your market by doing those things?


Movements in Auchenflower - Doug Disher Real Estate

Indooroopilly Market Comparison: 3 Years How many apartments have sold in Indooroopilly?

How many apartments are for sale in Indooroopilly?

What was the highest apartment sale price in Indooroopilly?

What was the lowest apartment sale price in Indooroopilly?

What was the average sale price in Indooroopilly?

Which street has had the most sales in Indooroopilly?

What was the average weekly rental amount for apartments in Indooroopilly?

*Figures correct as of the 1st June 2012. Figures include townhouses

2009/10

132

2010/11

94

2011/12

52

1st July 2011

68

As of 1st June

44

2009/10

$995,000

2010/11

$1,237,500

2011/12

$680,000

2009/10

$249,000

2010/11

$235,000

2011/12

$289,000

2009/10

$474,041

2010/11

$460,083

2011/12

$447,282

2009/10

Station Rd

2010/11

Central Ave

2011/12

Central Ave

2009/10

$350

2010/11

$370

2011/12

$380


Indooroopilly Market Statistics - Apartments


History of Indooroopilly There is some debate as to how the suburb Indooroopilly was named. It is either a variation of Yindurupilli, meaning 'gully of running water'; or Nyindur-pilly, meaning "gully of the leeches'. The first English name given to the area was Witton, from Witton Flats, a popular local picnic spot. Situated well beyond the perimeter of colonial Brisbane, Indooroopilly was linked to it by railway in 1876 when the Ipswich to Roma Street line was opened. The Railway Bridge Hotel was licensed a few years before, and a post office was opened in 1874. A few Brisbane residents built houses on rural estates. In 1880 the Indooroopilly local government division was formed, extending south-west to Moggill. It was divided into Taringa and Indooroopilly divisions in 1890. The latter comprised the area well west of the village of Indooroopilly, and it was renamed Moggill in 1917. A primary school was opened in 1889, along with St Andrews Anglican Church in Lambert Road. The Gothic influenced timber building is listed on the Queensland heritage register. Four years later Indooroopilly shot to prominence when the Brisbane River flood destroyed the railway bridge. The through rail service was resumed in July 1895 when a rebuilt Albert railway bridge was opened. Among the several rural estates there was 'Ross Roy' overlooking Indooroopilly Reach, built in 1897 for William Ross Munro. The two storey mansion is part of St Peter's Lutheran College (1945). There was also a public hall in the village. Indooroopilly's resident population grew steadily during the interwar years. The Stamford Picture Theatre was opened in 1925 and the Brigidine Convent opened a girls' secondary school in 1929. Away to the east in the direction of Long Pocket the Indooroopilly Golf Club opened its club house in 1926 and Bougainvillea Gardens (now Thomas Park) were a popular attraction. Increasing motor traffic overtaxed the Indooroopilly ferry, and the Walter Taylor toll bridge, immediately west of the railway bridge, was opened in 1936. The toll remained until the year after the Centenary Bridge was opened. Both the Walter Taylor and the Albert bridges are on the Queensland heritage register.

What’s In A Name? Stamm Street - Named after Mr Louis Stamm, one of the earliest chairmen of the Indooroopilly Divisional Board. Stamm’s estate covered the present site of the Indooroopilly Train Station. Witton Road - Named after the picnic resort ‘Witton Flats’ The area was owned by the Boyle family, who lived in the home, ‘Witton Manor’. Bougainvillea Street - Named after the beautiful flowers that Mr Henry Thomas, in Harts Road, cultivated. They were the showplace of the suburb. Keating Street - Named after the house opposite the Indooroopilly Hotel. Designed in the 1890’s by Brisbane architect Richard Gailey for Louis Stamm. Glencairn Avenue - Named after the historic homestead built in 1897


Construction of Indooroopilly Railway Bridge Circa 1895

Ross Roy, became part of St Peters - Circa 1929


Indooroopilly Toll Bridge Over The River 1937

Unveiling of the Indooroopilly War Memorial 1921


Witton Bridge 1890

‘Ruardean’ Central Avenue, Circa 1921


Verandahs of Glencairn House

Clarence Road and Prince St circa 1920


*All information contained in this report is gathered from sources we believe reliable. We have no reason to doubt its accuracy, however, we cannot guarantee it. Thanks to the State Library of Queensland for all the photos and maps.


Movements in Indooroopilly Report