Chapel Hill Market Report FY16/17 - Reuben Packer-Hill

2016/2017 Chapel Hill market report Reuben Packer-Hill

Reuben Packer-Hill and his team at McGrath – Financial year summary

It has been another exceptional year in local real estate, with our team achieving over $150M in sales which is well up on the previous year. We secured several street records, the highest sale price in Chapel Hill, and were fortunate enough to be awarded winners of the 2017 Agent of the Year Award for Chapel Hill by ratemyagent.com.au. Our company database also continues to be an invaluable sales strategy tool, with over 3,500 new buyers added this year – reflecting strong ongoing demand for our area.

The data contained in this report speaks for itself, and showcases another year of positive price movement for Chapel Hill. Whilst land prices have settled following several years of strong growth, the housing market secured another 2.85% in positive median price growth. This is the fifth consecutive year of sustainable price increases.

In comparison, we have seen prices in surrounding suburbs settle, including that of Indooroopilly and Kenmore; however the short term outlook for Chapel Hill house prices remains positive. Market confidence remains high paired with record low interest rates, with media reports of potential increases leading to a flurry of buyer activity, particularly in the last quarter. Local upsisers have been driving the buyer activity and the shortage of homes for sale has resulted in some excellent prices being achieved.

In local trends, there has been a resurgence of interest in prestige property this year, with our team securing twenty-three (23) sales over $2million in the last 12months. This year hasn’t been all about business though; it’s great to give something back to the community we live and work in. We are very proud to announce our sponsorship of the Centenary Kenmore Rugby Union Club.

Moving forward, we expect a strong Spring selling season with new listings and a similar pace of price growth through 2017/2018. We look forward to seeing you in the area.

Reuben Packer-Hill 0401 840 361 3088 1555 reubenpackerhill@mcgrath.com.au

Chapel Hill statistics FY2016/2017 HOUSES Number of houses sold

176

Median sale price

$790k

Highest sale price

$2.31m

Lowest sale price

$455k

1 year median change

2.85%

Average rent price

$570pw

LAND Number of land sold

5

Median sale price

$405k

Average land size

743sqm

Highest sale price

$527.5k

Lowest sale price

$385k

1 year median change

-2.8%

Chapel Hill median price change VS surrounding suburbs $850k $800k $750k $700k $650k $600k $550k $500k 2013

2014 Chapel Hill

2015

2016

Kenmore

Source: RP data, Pricefinder, Department of Natural Resources and McGrath Estate Agents

2017 Indooroopilly

Testimonials “In total, we met with nine agents and selected McGrath as we believed their corporate structure would provide greater arsenal than local agents. We were impressed by the quality of the marketing campaign that Reuben & Alex managed.

Ultimately, our property sold within 3 months – which was half the time we anticipated. Reuben & Alex achieved a record price for the street and record price for the suburb for the year.”

Mr & Mrs Salouk

7 Kirkdale Road, Chapel Hill

“We choose Reuben to sell our home as we believed we would get a professional and personalised service. Reuben excelled at meeting these expectations with regular communication, guidance and expert knowledge. Reuben was always affable, genuine, respectful and professional and was a pleasure to work with.

Reuben achieved for us a quick sale with a record sale price for the street. We highly recommend Reuben and wouldn’t hesitate to use Reuben’s services again in the future.”

19 Sleaford Street, Chapel Hill

Mr & Mrs Stegeman

Top 10 house sales FY2016/2017 Address

Bed

Bath

Car

Land size

Sale date

Sale price

1

7 Kirkdale Road

7

4

2

5,772sqm

11-Dec-16

$2.31m

2

83 Tristania Road

4

2

3

9,863sqm

1-Nov-16

$1.85m

3

95 Tristania Road

5

5

2

4,102sqm

2-Jul-16

$1.78m

4

70 Fleming Road

5

3

3

8,411sqm

22-Mar-17

$1.775m

5

6/13 Kirkdale Road

6

3

4

1,352sqm

3-Aug-16

$1.69m

6

9/13 Kirkdale Road

5

4

2

613sqm

27-Jan-17

$1.5m

7

26 Maculata Drive

5

3

2

1,525sqm

31-Oct-16

$1.4m

8

75 Ludlow Street

5

4

2

6,461sqm

18-Jan-17

$1.39m

9

7/13 Kirkdale Road

5

3

2

686sqm

26-Oct-16

$1.315m

10

103 Ironbark Road

5

3

2

1,229sqm

25-Jan-17

$1.26m

Lowest 10 house sales FY2016/2017 Address

Bed

Bath

Car

Land size

Sale date

Sale price

1

16 Burbong Street

2

1

0

911sqm

9-Nov-16

$455k

2

19 Bredden Street

3

1

1

688sqm

21-Nov-16

$500k

3

15 Lant Street

3

1

2

546sqm

8-Sep-16

$505k

4

24 Lant Street

4

2

2

547sqm

24-Sep-16

$512k

5

98 Lant Street

3

1

1

546sqm

25-May-17

$532.5k

6

84 Fig Tree Pocket Road

3

2

2

979sqm

5-Sep-16

$550k

7

34 Henry Street

3

1

1

506sqm

13-Feb-17

$565k

8

14 Rebecca Street

3

1

1

601sqm

26-Aug-16

$565.5k

9

144 Fig Tree Pocket Road

4

2

2

551sqm

1-Apr-17

$570k

10

59 Fig Tree Pocket Road

3

1

2

407sqm

22-Dec-16

$575k

Source: RP data, Pricefinder, Department of Natural Resources and McGrath Estate Agents

Testimonials “We selected Reuben after interviewing three agents. He suggested a selling strategy with which we were happy. Once the selling process commenced Reuben was enthusiastic and professional and kept us informed of interest and potential buyers. We found him a pleasure to deal with and he was able to finalise a contract which met our expectations”.

Mr & Mrs Lorenz

11 Ngeringa Crescent, Chapel Hill

1 Sands Place, Chapel Hill

“Reuben sold our home in Chapel Hill and we are very happy with the outcome. From the beginning of the sale campaign to settlement, Reuben was every part the professional. Having been a buyer in the Chapel Hill market for a number of years, we had come across Reuben at quite a number of properties and we were impressed with his overall work ethic - excellent communications, good follow up, positivity, complete knowledge of the market etc. He achieved a great result for us, having also negotiated a mutually suitable settlement period that not only suited buyer and seller, but also the tenants and property manager.”

Mr & Mrs Tydd

Chapel Hill house sales breakdown FY2016/2017

14

65

57

12

12

sales

sales

sales

sales

sales

Sub $600k

$600k-$799k

$800k-$999k

$1m-$1.2m

Over $1.2m

Chapel Hill average marketing campaign response Houses under $650k

36

INSPECTIONS

26

AVERAGE DAYS ON THE MARKET

Houses between $650k-$800k

72

INSPECTIONS

23

AVERAGE DAYS ON THE MARKET

Houses between $800k-$1.2m

46

INSPECTIONS

37

AVERAGE DAYS ON THE MARKET

Source: RP data, Pricefinder, Department of Natural Resources and McGrath Estate Agents

Sales by Reuben and his team in FY2016/2017

25 Kirkdale Road Sold

58 Fleming Road Sold

8 Eaglie Street Sold

47 Chapel Hill Road Sold

2 Lucyanne Court Sold

7 Kirkdale Road Sold

25 Burns Parade Sold

161 Chapel Hill Road Sold

19 Sleaford Street Sold

49 Clarina Street Sold

Sales by Reuben and his team in FY2016/2017

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Amenities A. Mt Coot-tha B. Fleming Road Shops C. Green Hill Resevoir D. Chapel Hill State School E. Kenmore Plaza F. Kenmore Village

G. Kenmore State High School H. Kenmore State School I. Kenmore South State School J. Kenmore Rugby Union Club K. Indooroopilly State School L. Indooroopilly Shopping Centre

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Why so many people sell their home through Reuben Packer-Hill

10 years LOCAL SELLING EXPERIENCE

$2.31m

Agent of the year 2017 REAL ESTATE AGENT FOR CHAPEL HILL - RATEMYAGENT.COM.AU

over

$100m

HIGHEST SALE PRICE (FY16/17)

TOTAL SALES VOLUME TO DATE

72%

128

AUCTION CLEARANCE RATE

300k

WEBSITE VISITORS A MONTH ON McGRATH WEBSITE

SALES TO DATE

375k APPROXIMATE BUYERS ON DATABASE

We love local.

Reuben Packer-Hill is a proud sponsor of the Kenmore Centenary Rugby Union Club.

Source: RP data, Pricefinder, Department of Natural Resources and McGrath Estate Agents

MAXIMISING YOUR INVESTMENT RETURN Are you achieving the best possible return on your investment?

• At McGrath your property reaches more prospective tenants through our award winning website as well as the highest priority listing on domain.com.au and realestate.com.au • Out team of highly experienced Property managers analyse the market to do regular rent reviews ensuring you are always getting the best rental return • With a network of over 100 offices, we are able to utilise our extensive contacts and database to attract more quality tenants • Through ongoing condition reports, routine inspections and constant monitoring by our highly trained team means that your investment is in safe hands

29 Sleaford Street Leased “Our experience with property managers is derived from previous experience as landlords, in addition to my tenure of several years as the in house broker for a large Real Estate Firm.

In comparison to most property managers we have dealt with, Fleur stands head and shoulders above her competitors.”

John Gorban If you would like to speak to McGrath Property Management in relation to our service contact Fleur Hansen on 0498 000 485.

Fleur Hansen Property Manager 0498 000 485 fleurhansen@mcgrath.com.au

Reuben Packer-Hill Chapel Hill Specialist 0401 840 361 reubenpackerhill@mcgrath.com.au

mcgrath.com.au