Domenico Bellino Norman Park Report

KIRRIBILLI MILSONS POINT EDITION

Norman Park Half year update 2018 Domenico Bellino Team

A message from Domenico Bellino & Michael Oslar

The first six months of 2018 have certainly seen a great deal of change in the Brisbane property market. Recent statistics have shown a steady stream of population growth, with former Sydney and Melbourne residents in particular migrating to Queensland. In fact, the net number of migrants entering Queensland (12,847 of them according to CoreLogic) has exceeded that of Victoria for the first time in five years, and this rise in population will only improve market conditions.

Potential buyers are not only interested in our enviable weather and relaxed lifestyle, but seeing excellent value and potential for growth, especially in the inner city suburbs. And while unit sales have slowed substantially due to an oversupply in the city and surrounding suburbs, we have still seen an increase in house prices for properties within close proximity to the city. Properties in Norman Park in particular have continued to maintain a steady growth of over 8% over the past 12 months.

The future also looks extremely bright for the River City, with 13% growth expected over the next three years according to BIS Oxford Economics, resulting in a median house price of over $620,000. That’s more than any other capital city in Australia! This will continue to be buoyed by steady population growth, which will drive demand and be underpinned by good economic fundamentals including job creation and a low unemployment rate.

As one of Australia’s most successful residential real estate groups, the McGrath network currently has 95 offices throughout the east coast of Australia and is consistently increasing its market share in the Brisbane area. We owe much of our success to our clients who trust us to proactively achieve the results they deserve, so thank you! If you would like an updated appraisal or expert advice on how to achieve the best possible price for your property, don’t hesitate to contact us!

Domenico Bellino Norman Park Specialist 0421 908 002 domenicobellino@mcgrath.com.au

Michael Oslar Norman Park Specialist 0410 474 694 michaeloslar@mcgrath.com.au

Norman Park statistics 3 Jan 2018 – 2 July 2018

Buy

Rent

$902.5k

$550pw

2

3

4

2

3

4

$606k

$735k

$1.10m

$415pw

$520pw

$708pw

Median days on market

Annual Change in Median Price – 10yrs

39 days

3.9%

Change in Median Price – 5yrs

41.2%

Demand for Norman Park vs Queensland

Source: realestate.com.au

Norman Park

Average QLD

937

368

visits per property

visits per property

Testimonials “Congratulations! You’re driving extraordinary success with Sarina Russo, family & staff!

So proud of tonight’s sale! Thank you, Domenico,! You are stardom in Dianne Fletcher’s world and mine! Congratulations!”

Sarina Russo

“Domenico’s recommended method of sale, persistence and experience contributed to an incredible result for the Bekavac family. We spoke to many agents but Domenico stood out because of the marketing and sales strategy he suggested. We feel this made a huge difference as we achieved $1,000,000 over our best offer prior to listing and $800,000 over our bank valuation.”

Robert Bekavac

“This is our family’s fourth property sold by Domenico. Same exceptional result every time.

Thanks so much for all your hard work.”

Kiran Verma

“Thank you so much Domenico, we had the property on the market with another agent for over 10 months with no suitable offers. Domenico recommended a landscaper and a fantastic interior designer who presented the property beautifully, we achieved a sale within 6 weeks! We really appreciate your advice and the exceptional result.”

Lyndell Goddard

“You are totally awesome. You have been my rock through the whole process. From the day you magically transformed my unit for rental photographs (and attained top dollar & good tenants) and through the whole journey of the SALE!!! Thank you for your quiet strength, strong support & wise management throughout. Words can’t express my appreciation. I am so glad we met and I wish you the bountiful success in all your endeavours – which you fully deserve!! Heartfelt thanks,” Wendy Mason

“I recently had the pleasure of buying my home through Domenico, and I could not recommend him enough. His professionalism, honesty and reliability is exceptional. He is also remark ably pro-active – he coordinated cleaning prior to settlement, ensured any issues were quickly rectified, and what could have been a particularly stressful process was handled smoothly by Domenico, and thus became a pleasant and memorable experience.

I’m extremely happy, and wouldn’t hesitate to recommend Domenico for selling or buying a home.”

Gayathri

4170 House Sales 3 Jan 2018 – 2 July 2018 Address

Bed Bath Car

Land size

Sale price

Sale date

63 Macdonald Street, Norman Park

5

3

2

405

$965k

11-Jan-18

16 Macrossan Avenue, Norman Park

3

1

1

405

$694k

12-Jan-18

43 Power Street, Norman Park

4

2

2

405

$1.17m

23-Jan-18

60 Tennyson Street, Norman Park

4

3

2

731

$1.205m

27-Jan-18

23 Frank Street, Norman Park

5

3

2

405

$964k

9-Feb-18

22 Norman Crescent, Norman Park

2

2

2

0

$465k

12-Feb-18

35 Gillan Street, Norman Park

5

3

2

386

$1.85m

20-Feb-18

314 Bennetts Road, Norman Park

3

1

2

536

$680k

22-Feb-18

117 Mcilwraith Avenue, Norman Park

4

2

2

405

$1.17m

22-Feb-18

17 Pattison Avenue, Norman Park

2

1

1

587

$600k

26-Feb-18

176 Morehead Avenue, Norman Park

4

3

2

405

$1.64m

28-Feb-18

33 Bodalla Street, Norman Park

5

4

3

1,062

$2.35m

6-Mar-18

182 Milsom Street, Norman Park

5

3

2

405

$880k

9-Mar-18

34 Thackeray Street, Norman Park

3

1

1

810

$1.25m

10-Mar-18

100 Kingsbury Street, Norman Park

5

2

2

405

$1.51m

11-Mar-18

43 Moreton Street, Norman Park

5

3

2

405

$1.185m

12-Mar-18

51 Dickens Street, Norman Park

4

3

1

405

$1.075m

14-Mar-18

104 Macrossan Avenue, Norman Park

3

2

2

607

$875k

14-Mar-18

294 Bennetts Road, Norman Park

3

1

1

450

$596.5k

15-Mar-18

12 Russell Avenue, Norman Park

4

2

2

405

$1.25m

17-Mar-18

43 Tennyson Street, Norman Park

4

2

2

607

$925k

17-Mar-18

Source: CoreLogic

4170 House Sales 3 Jan 2018 – 2 July 2018 Address

Bed Bath Car

Land size

Sale price

Sale date

87 Overend Street, Norman Park

2

2

2

201

$920k

20-Mar-18

71 Macrossan Avenue, Norman Park

5

3

2

405

$1.216.709m

23-Mar-18

139 Bennetts Road, Norman Park

3

1

1

837

$755k

26-Mar-18

78 Adina Street, Norman Park

5

2

2

400

$890k

27-Mar-18

180 Norman Avenue, Norman Park

5

3

2

809

$1.325m

29-Mar-18

11 Macrossan Avenue, Norman Park

3

1

3

541

$715k

31-Mar-18

165 Macrossan Avenue, Norman Park

4

4

2

405

$1.1m

11-Apr-18

83A Norman Crescent, Norman Park

5

3

2

403

$1.045m

12-Apr-18

36 Tennyson Street, Norman Park

5

3

1

810

$1.342m

14-Apr-18

15 Longfellow Street, Norman Park

5

3

2

405

$950k

21-Apr-18

134 Bennetts Road, Norman Park

2

1

0

405

$570k

26-Apr-18

75 Real Avenue, Norman Park

5

2

2

509

$1.65m

26-Apr-18

196 Norman Avenue, Norman Park

3

2

2

405

$770k

28-Apr-18

21 Waldo Street, Norman Park

2

1

1

506

$1.4m

28-Apr-18

72 Macdonald Street, Norman Park

6

3

2

810

$1.25m

12-May-18

144 Morehead Avenue, Norman Park

4

2

1

506

$735k

19-May-18

72 Morehead Avenue, Norman Park

5

3

2

405

Confidential

2-Jun-18

126 Macrossan Avenue, Norman Park

4

2

4

809

Confidential

15-Jun-18

358A Ferguson Road, Norman Park

4

3

2

496

$975k

20-Jun-18

49 Frank Street, Norman Park

4

3

2

405

$1.255m

25-Jun-18

7 Hume Street, Norman Park

4

2

1

402

$1.025m

30-Jun-18

Source: CoreLogic

4170 Townhouses 3 Jan 2018 – 02 July 2018 Address

Bed

Bath

Car

Sale price

Sale date

1

Lot 1/21 Curtis Street

2

2

1

$485k

2-Jan-18

2

3/55 Railway Parade

2

1

1

$370k

4-Jan-18

3

2/179 Norman Avenue

3

2

1

$405k

6-Feb-18

4

53B Thackeray Street

3

2

1

$810k

24-Feb-18

5

1/183 Norman Avenue

2

2

1

$465k

24-Mar-18

6

2/64 Dickens Street

3

2

2

$795k

12-Apr-18

4170 Unit 3 Jan 2018 – 02 July 2018

Source: CoreLogic

Address

Bed

Bath

Car

Sale price

Sale date

1

14/13 Vectis Street, Norman Park

2

2

2

$422k

7-Jan-18

2

4/16 Norman Crescent, Norman Park

2

2

1

$465k

16-Jan-18

3

4/12-16 Norman Crescent, Norman Park

2

2

1

$465k

31-Jan-18

4

10/70 Norman Crescent, Norman Park

2

2

1

$405k

9-Feb-18

5

22/96 Norman Crescent, Norman Park

2

2

2

$465k

12-Feb-18

6

1/183 Norman Avenue, Norman Park

2

2

1

$465k

24-Mar-18

7

332/90 Wynnum Road, Norman Park

3

2

2

$1.774m

26-Mar-18

8

1/166 Norman Avenue, Norman Park

2

2

1

$930k

27-Mar-18

9

5/259 Wynnum Road, Norman Park

3

2

1

$633k

13-Apr-18

10 2/259 Wynnum Road, Norman Park

2

2

1

$412k

8-May-18

11 1/259 Wynnum Road, Norman Park

2

2

1

$409k

12-May-18

12 6/259 Wynnum Road, Norman Park

3

2

1

$515k

12-May-18

13 3/259 Wynnum Road, Norman Park

2

2

1

$410k

24-May-18

14 103/24 Norman Crescent, Norman Park

2

2

1

$530k

30-May-18

Domenico Bellino Norman Park Specialist McGrath Estate Agents 0421 908 002