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Taxis waiting outside Taringa Train Station 1920

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

www.disher.com.au


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

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

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

- Taringa’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


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

How many houses are for sale in Taringa today?

What was the highest house sale price in Taringa?

What was the lowest house sale price in Taringa?

What was the average sale price in Taringa?

Which street has had the most sales in Taringa?

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

*Figures correct as of the 1st June 2012.

2009/10

61

2010/11

59

2011/12

29

1st July 2011

26

As of 1st June

27

2009/10

$1,880,000

2010/11

$1,900,000

2011/12

$1,766,000

2009/10

$530,000

2010/11

$450,000

2011/12

$490,000

2009/10

$842,762

2010/11

$787,250

2011/12

$795,552

2009/10

McCaul St

2010/11

Goldsbrough Rd

2011/12

Taringa Pde

2009/10

$420

2010/11

$470

2011/12

$480


Taringa 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

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

How many apartments are for sale in Taringa?

What was the highest apartment sale price in Taringa?

What was the lowest apartment sale price in Taringa?

What was the average sale price in Taringa?

Which street has had the most sales in Taringa?

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

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

2009/10

195

2010/11

111

2011/12

79

1st July 2011

79

As of 1st June

54

2009/10

$1,125,000

2010/11

$750,000

2011/12

$870,000

2009/10

$236,000

2010/11

$215,000

2011/12

$210,000

2009/10

$424,232

2010/11

$405,061

2011/12

$412,063

2009/10

Swann Road

2010/11

Swann Road

2011/12

Swann Road

2009/10

$350

2010/11

$360

2011/12

$370


Taringa Market Statistics - Apartments


History of Taringa Taringa was a place on the railway line from Brisbane to Indooroopilly and Ipswich (1875), and land sales occurred around the railway station as soon as trains started running. They were situated among rural acreages, and Taringa was but a fraction of the Indooroopilly local government area (1880) that extended from Upper Brookfield to St Lucia and as far south as Priors Pocket. The local school for Taringa's farming families was Ironside. In 1884 the Taringa post office was opened and six years later the Taringa local government division was created by severance from Indooroopilly. It went from St Lucia to Mt Coot-tha. The divisional council met at Taringa which had a row of shops along Moggill Road near the station - a grocer, draper, baker, two butchers, a bootmaker and a blacksmith according to the Post Office directory (1901). The primary school, squeezed between Moggill Road and Morrow Street, opened in 1900. Taringa became steadily built up and in 1919 the Fire Brigade Act was extended to it for property protection. Urbanisation was rewarded with incorporation into Greater Brisbane Council in 1925. During the 1930s the university at St Lucia was built, positioning Taringa as a potential dormitory suburb for the postwar transfer of higher learning from the city to the St Lucia campus. Some modern interwar housing was built on Taringa's slopes, a notable example being a heritage-listed two storey brick residence with a railed balcony in McCaul Street (the Fulton House, 1940). In addition to new houses Moggill Road had a substantial shopping centre with the Picture Palace cinema, the Alliance Hall and the Anglican and Methodist churches. The Fulton House had been built at an outlying location, Taringa East, and a post office was opened at the nearby fiveways intersection in 1953. Moggill Road became increasingly busy as the route to Indooroopilly and Kenmore. The Western FreewayCentenary Highway (1969) relieved some of the traffic pressure, but a bypass route in the heart of Taringa was also opened that year in anticipation of Indooroopilly Shoppingtown (1970). It may have been the lesser of two misfortunes, as it positioned regional shopping just outside Taringa rather than inside it. (2003, 2004).

What’s in a Name? Taringa was originally known as West Milton Morrow St - named after the first chairman of the Taringa Divisional Board, Thomas Morrow. Was the founder of Morrows confectionary and biscuits. Dopson St - named after the Dopson family of blacksmiths, the shop was down a small lane way from Moggill Rd. Stanley Terrace - Francis Drummond Greville Stanley lived in what become Stanley Terrace for a while in a house called Ormlie which he built in about 1869 (Fewings). Stanley later moved to the Kensington Terrace Area. Ormlie became known as Easton Grey when it was owned by the squatter-politician Sir Arthur Hunter Palmer, premier of Queensland 1870-74. The Easton Grey estate was sub-divided in the late 1880s (Easton Grey Estate plan. It seems most likely that Stanley Terrace was named for FDG Stanley and not for his brother, Henry Charles Stanley, the railways engineer, who lived further west in Toowong before moving to Tighnabruaich in Indooroopilly in the early 1890s. Whitmore Street - Whitmore Street used to be called Wilson Street until the 1930s.


Hillsdon Family of Summer Hill Estate

Kingshome Soldier’s Home 1938 (Swann Road)


Marmion Pde 1920’s

Residence in Rokeby Terrace circa 1912


*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.

Movements in Taringa  

The Movements in Taringa Report for 2011/2012, prepared by REIQ 2012 Salesperson of the Year Finalist - Brett Andreassen 0421 723 713 brett@...

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