Nerang’s first bank, 1885
What’s Sold!
Quarterly Market Report
Nerang & Surrounding Suburbs
Nerang
55960055 | nfn.com.au
Earle Plaza, Cnr Price & White Sts., Nerang
Welcome...
to your Quarterly Market Report.
We hope you find our third edition of the Quarterly Market report to be an interesting tool to help you keep in tune with local market trends and values.
In this issue...
Real estate really is one of the most secure investments over the long term, and many consumers see it as a path to financial security. It’s therefore no wonder that so many Australians strive to own a home, and often an investment or holiday property as well.
What’s Sold Quarterly Sales Stats 2 Price Movements Sold Pictorials
3 4-9
Most of us assume that the value of our real estate will increase, but the length of time a property is held has a lot to do with whether you’ll make a profit or loss. According to a recent Core Logic RP Data report, the average length of ownership for loss-making properties in 2014 was 5.7 years, versus 9.9 years for real estate that sold at a gross profit. First National Real Estate anticipates that the 2015 property market will continue to offer excellent investment opportunities although the market is showing signs of slowing down. It’s therefore important to consider the changing rate of price growth this year and how this will affect your home’s or investment property’s value, if you’re thinking of selling.
Our Tips What should I consider when buying my first home? 10 Knowing when it’s the 11 right time to sell
Preparing your home to rent 14
While many market commentators anticipate prices will continue to rise this year, depending on where you are in Australia, the pace of growth may be constrained by growing affordability issues and concerns about unemployment. The markets appear to have correctly factored yet another RBA rate cut for the start of 2015 and anticipate interest rates to remain at historic lows throughout the year. This means many property investors are well positioned to leverage existing equity and expand their property portfolios. As a member of Australia’s leading national real estate network, we help Australians buy their first home or investment property every day of the week.
Thinking of buying, selling or investing?
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We always welcome the opportunity to share our experience, so, call in for a chat at any stage and we can talk about how we can help you achieve your 2015 property goals. Mike Gray Principal
Nerang Quarterly Sales Statistics 1 October - 31 December, 2014 Local Area and 4211 Postcode HOUSE Sales Residential Homes on lots under 2000m2 Nerang
Highland Park
Carrara West
Worongary Gilston
43
18
18
6
13
Median Price
$395,000
$395,000
$440,000
$416,000
$489,000
Lowest
$308,000
$325,000
$365,000
$268,000
$445,000
Highest
$582,000
$700,000
$730,000
$450,000
$690,000
Sales
UNIT Sales Townhouses/Units/Apartments Nerang
Highland Park
Carrara West
Worongary Gilston
26
1
14
0
1
Median Price
$270,000
$299,000
$265,000
0
$430,000
Lowest
$190,000
$299,000
$245,000
0
$430,000
Highest
$375,000
$299,000
$320,000
0
$430,000
Sales
OTHER Sales 4211 postcode Acreage HOUSES Lots over 2000m2
Vacant Vacant ACREAGE RES. LAND Lots over 2000m2
Lots under 2000m2
13
1
5
Median Price
$704,000
$823,000
$259,000
Lowest
$460,000
$823,000
$244,500
Highest
$2,050,000
$823,000
$269,000
Sales
98 Houses Sold Previous quarter 108
42 Units Sold Previous quarter 53
13 Acreage Homes Sold Previous quarter 12
1 Acreage Lots Sold Previous quarter 1
5 Residential Lots Sold Previous quarter 1
This information is sourced from www.pricefinder.com.au, RP Data and the records of First National Nerang. Sales dollar amounts are rounded within $500 and whilst every effort is made to provide accurate figures they cannot be guaranteed and should be deemed as indicative. Parties should rely on their own enquiries and First National Nerang will not be held liable for errors herein.
2
SALES Volumes and PRICE Movement Charts - past 10 years HOUSES
UNITS
3
$510,000
m2
61 BALYANDO DR 3
2
$488,800
5
979m2
6 BIRRIBI AVE 4
2
$415,000
2
$420,000
880m2
2
800m2
50 COLRENE DR 4
2
$410,000
2
797m2
28 DEBBIE WAY 4
2
$417,000
2
464m2
49 DUGANDAN ST 3
2
$450,000
2
787m2
20 FORESTWOOD CRT 3
2
$345,750
1
400m2
12 HARBINGER CRT 3
2
$395,000
1
817m2
27 INVERNESS CRT 3
2
$10,075
2
2
$365,000
489m2
2
467m2
3 JINKER WAY 3
1
$335,000
1
$359,000
2
600m2
50 KOOLA DR
4
2
$479,000 3
1
723m2
2
$372,500
2
1862m2
2
405m2
9 LANCASTER CT
3
2
$431,000
2
677m2
8 MANDARIN CRT
3
2
$410,000
2
603m2
10 MISKIN ST
3
1
$308,000
1
600m2
15 PADAUK DR
4
3
$385,000
0
973m2
8 PAPAYA CT 3
1
$328,000 4 PICT CT
3
2
$396,000
1
400m2
2
814m2
27 PLUM PDE
3
28 INVERNESS CRT 3
10 KNIGHT CRES
4
13 KOWHAI PL
4
39 COLRENE DR 3
Nerang: Houses
Nerang: Houses
15 ST PETERSBURG PLACE 2 4 5
1
$320,000 3 RATA PL
3
2
$350,000
1
603m2
2
525m2
75 RIVERLEA DRIVE WTRS 2 1
4
$469,000
m2
2
$445,000
2
600m2
42 RIVERVIEW RD 3
1
$365,500
2
592m2
Nerang: Houses
4
3
1
$355,000
2
2
$515,000
4
4
$350,000
1014m2
2
1012m2
2
204m2
2
4
1012m2
28/11 EDEN CT
3
3
2
$433,000
2
410m2
86 YARRIMBAH DR
14 TENALGA ST 1
2
$425,000
883m2
$582,000 1100m2
4
2
67 YARRIMBAH DR
1
2
2
$387,000
1048m2
23 TEASDALE DR 4
2
$465,000
1/47 YARRIMBAH DR
4
$390,000
613m2
10 YARRIMBAH DR
5
$425,000
400m2
20 TEASDALE DR 4
2
$395,000
3
15 ST PETERSBURG PL 5
49 YARRAYNE RD
4
15 YARRIMBAH DR
26 SANDALWOOD TCE
3
4
1
$375,000
809m2
2
909m2
53 THE DOMAIN 4
1
$363,000
1
720m2
5 THE MEWS 3
2
$385,000
2
647m2
13 THE CRITERION 3
1
2
1534m2
Price Not Disclosed
2 WERNER PL 4
1
$375,000
1
407m2
33 YARRAYNE RD 3
1
$358,000
2
656m2
Highland Park: Houses
Nerang: Houses
18 RIVERPARK DR
48 ALEXANDER DR
3
1
$396,000
8
775m2
80 ALEXANDER DR
3
1
$325,000
1
634m2
56 ARMSTRONG WAY 5
3
$552,500
2
699m2
$373,500
2
1008m2
6 BELLAVISTA CL
4
2
$510,000
2
691m2
8 EAMONN CRT 3
2
$365,000
1
2
$375,000
2
m2
3 GARVIE PL 3
2
$495,000
2
792m2
2
$437,000 2
$395,500
991m2
2
705m2
43 KINCAID DR 4
3
4
Price Not Disclosed 999m2
14 PARKLANE PL 4
3
$700,000
3
834m2
2
1082m2
$390,000
2
706m2
18 PERTH SQ 3
1
$400,000
1010m2
1
1
620m2
3 TRISTANIA WAY
4
2
2
1070m2
59 ALISON RD
6
3
$526,000
2
1000m2
160 ALISON RD
4
3
$550,000
4
1711m2
3
$665,000
2
1114m2
2 BAJADA PL
3
1
$386,000
4
687m2
26 COOLONG CRES
4
4
2
Price Not Disclosed
767m2
28 GREENBANK CRCT 3
$440,000
610m2
1
$416,500
4
753m2
22 LEVESTAM CT
3 PERTH SQ 1
3
$360,000
3
2
Price Not Disclosed
3
1
23 GUTHRIE PDE
8 PAULINE PL 4
2
7 RICHARD CRES
35
2
20 JABILUKA DR 4
3
$360,000
38 AMETHYST CRT
16 ISSELL PL 4
25 RENFREW DR
$540,000
691m2
98A EXPLORERS WY 4
Highland Park: Houses
1
Carrara: Houses
Highland Park: Houses
7 BEAU CT
3
1
714m2
2
1
$365,000
2
838m2
33 MADIGAN RD
3
1
$390,000
1
780m2
$435,000
2
668m2
3 MICHELMORE RD
4
2
$522,500
2
1406m2
15 MINUGH CRT 3
2
$460,000
4
2
$397,000
2
732m2
30 PLATEAU CRES 5
3
$455,000
2
710m2
11A TIVOLI CRT 4
2
$410,000
1
719m2
17 TIVOLI CRT 4
2
$512,500
4
607m2
10 TRALEE CT 5
3
$730,000
2
809m2
12 WOOLMERE ST 3
2
2
Worongary: Houses
Price Not Disclosed 724m2
53 BARRINE DR 3
1
1
$450,000 1252m2 3 EUNGELLA CT 3
1
$370,000
3
750m2
8 KALBARI CT 3
1
$268,000
2
750m2
4 NABARLEK DR 3
1
$320,000
1
750m2
31 NABARLEK DR 3
1
$416,000
2
750m2
16 NEWHAVEN CRES
3
2
$420,000
900m2
3 MUSTON COURT 4
Worongary: Houses
1
Gilston: Houses
Carrara: Houses
16 MCTAGGART PL
3
4
757m2
13 KOOKABURRA DR
7
4
4
Price Not Disclosed
6781m2
21 PYRUS CRT
4
4
4
Price Not Disclosed
6582m2
15 DOLLAR BIRD CRT
4
3
$489,000
2
623m2
39 JACKEROO CRES
4
3
$690,000
3
1498m2
8 KEITH RUDD DR
4
2
$478,000
2
655m2
35 MOONDANI DR
4
2
$445,000
2
642m2
8 PARROT CT 4
2
$507,000
2
601m2
1 PETER MILLS DR
4
2
$517,500
2
833m2
4 PLATINUM CRT
4
2
$470,000
2
771m2
2
$489,000
2
697m2
9 SWAGMAN RD
4
2
$460,000
2
674m2
12 HONEYEATER CRT 5
2
$550,000
2
m2
15 WORLEY DR 3
2
2
Nerang: Units
Price Not Disclosed 776m2
Nerang: Units
Gilston: Houses
6 PLATINUM CRT
4
5/59A MARTIN ST 3
1
$285,000
1
18/44 TO 48 MCLAREN RD 2 2 3
$255,000 BALMORAL RISE
2/56 NERANG-B/BEACH RD 3 2 4
Price Not Disclosed
1/1 PATRICIA CRT
3
2
$375,000
2
17/1 BOULTON DR
12/67 PRICE ST
$366,500
$216,000 ROCHESTER COURT
3
2
2
17/7 BOWDEN COURT 3
2
1
$250,000 RIVERBEND APARTMENTS 14/7 BOWDEN COURT 3
2
1
$275,000 RIVERBEND APARTMENTS 62/13 BOWDEN COURT 3
1
1
2
1
1
2/48 RIVERGUM DR
3
1
$290,680
2
1/87 RIVERPARK DR
3
2
$315,000
1
6/32 RIVERVIEW RD
3
1
1
$250,000 THE BILLABONG
$250,000 RIVERVIEW GARDENS
1/27 COTTON ST
3
2
1
1
Price Not Disclosed
3/27 COTTON ST 2
1
$190,000
1
24/86 LAWRENCE DR 2
1
1
Price Not Disclosed
PALM GROVE VILLAGE
3/52 -54 MARTIN ST 2
1
1
$215,000 LYNDONVILLE
99/32 RIVERVIEW RD 1
2
$253,000 RIVERVIEW GARDENS
227/64 GILSTON RD
3
2
$299,000
2
3
2
2
Price Not Disclosed
RIVER SPRINGS COUNTRY CLUB
274/64 GILSTON RD
3
2
$282,000
1
Carrara: Units
Nerang: Units
65/64 GILSTON RD
58 ANCONA ST 3
2
2
$318,000 SIERRA VISTA 20
72/1 COELIA CRT 3
2
$315,000
3
RIVER SPRINGS COUNTRY CLUB
42/64 GILSTON RD
98/1 COELIA CRT
$270,000
$320,000
3
2
1
3
2
2
RIVER SPRINGS COUNTRY CLUB
74/64 GILSTON RD
4
2
$355,000
2
RIVER SPRINGS COUNTRY CLUB
9/64 Gilston Road 4
2
2
Price Not Disclosed
RIVER SPRINGS COUNTRY CLUB
258/64 Gilston Road 4
2
2
Price Not Disclosed
RIVER SPRINGS COUNTRY CLUB
281/64 Gilston Road 4
2
2
Price Not Disclosed
RIVER SPRINGS COUNTRY CLUB
292/64 Gilston Road
Carrara: Units
4
2
2
13/38 MUREV WAY 3
1
1
$253,000 PARADISE PALMS
38 MUREV WAY
3
1
2
$269,500 PARADISE PALMS
38 MUREV WAY
3
2
2
$280,500 PARADISE PALMS
159 PAPPAS WAY
2
1
1
$260,000 PAPPAS WAY GARDENS 42/130 PLATEAU CRES
3
2
2
Price Not Disclosed
RIVER SPRINGS COUNTRY CLUB
$255,000 GUMTREE TERRACE
1A ALISON RD
130 PLATEAU CRES
$265,000 ORCHID PARK
$255,000 GUMTREE TERRACE
3
2
1
28 TO 30 ANCONA ST 3
1
$245,000
2
93/28 ANCONA ST 3
1
1
$245,000 ACACIA GROVE
4 STORMBIRD PL
3
2
1
$305,000 SIERRA VISTA 12
3/7-9 TARA TCE
3
2
$316,000
2
Please note: Some sold property photos and descriptions may not appear on these pages.
What should I consider when buying my first home? It’s a big decision to buy your first property and chances are, there are all sorts of features you’d like to find in your home.
Locating that ideal property should involve a bit of your heart and a lot more of your head, otherwise you could end up buying somewhere that’s far from a perfect fit. Compiling a list of what’s important to you in a property is a great way of narrowing down your options and ensuring you purchase somewhere most suited to your needs. Location, location, location One of the most important aspects to think about is the location of your property, which will largely depend on your individual circumstances. If, for example, you have children then you’ll need to make sure there are plenty of quality schools nearby. Young professionals, on the other hand, will want to be close to their place of work. An area might seem ideal at face value, but spend some time researching it more in-depth to ensure it’s the right choice for you. 10
Property prices
Another important factor is the price of property - how much can you afford to spend on your first home? Some parts of the country - or the city are more affordable than others, so it’s worth knowing where you are able to buy before getting your heart set on a certain home. Safety and security It’s essential that you feel at ease when you move into your first home, which is why you should invest some time in getting to grips with the local crime statistics. Speaking to people who already live in the area is another good way to research the area - they’re likely to be the best source of information! Renovation potential Some people like the idea of making their first property into a renovation project, while others simply want to move in and start living in it straight away. Decide which category you fall into and factor this into your property hunting process.
Knowing when it’s the right time to sell
Are you getting restless? Here’s some of the telltale signs it’s time to sell your property. You’re financially prepared. Many people think of selling up as a way to get more cash in the bank. If you manage the right combination of agent, marketing and timing, you can certainly walk away with profit. But selling costs money, and it introduces uncertainty that you need to be able to support from a financial perspective. Are you ready to take on the costs of a new home? (Especially if you’re thinking of upgrading rather than downsizing.) If you need to rent in between this and your next property, can you manage? If life throws other curveballs, like a loss of job, will you and any dependents be on solid footing? Your suburb is booming. Sudden abundance of real estate flyers in your mailbox? Strangers passing by for a sticky beak with a gleam in their eye? Your property could be sitting in the middle of a hot zone that the market is buzzing about. Use free online data, property websites and sold prices to keep an eye on the market and see how your suburb is performing. If you notice properties in your area selling quickly and you’re otherwise ready for a change, it could be a smart time to introduce your place to the market. It can also be a good idea to see where your property sits, price wise, in your neighbourhood by calling in an agent for a current market appraisal, a service which agents provide for no charge. 11
Your home doesn’t fit you anymore. Kids have moved out and there’s too much space? Growing number of residents and the one bathroom becoming a bit of a logistical nightmare? The shape of our families and lives change and, with it, our needs for space and function at home. If your current property isn’t serving your needs, it could be time to look for something that’s a better match. Renovations are in the too-hard basket. If the home improvements you’ve always been keen to do are feeling like too much effort, it could be another sign you’ve detached and are ready for a different environment. Colour scheme and fixtures out of date and the prospect of a renovation making you groan? Could be time to let someone with fresh energy tackle the challenge. Feeling the need for change. Change can arrive uninvited, but there are also natural chapters in our lives where we feel a real need to change our surroundings and strike a different path. If your home is making you sigh and your gut is telling you to reboot your domestic front, it could be time to sell up and reinvigorate life from a new patch.
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Property Management Guru’s Experience is everything! With more than 23 years of managing investment properties, First National Nerang have more than mastered the art of delivering superior service and maximum returns for our clients • Stringent tenant selection • Effective marketing - more tenants to choose from • Lower vacancy periods • Regular routine property inspections and written reports to clients • Strict arrears control • Speedy maintenance handling • Regular rent reviews - for maximum returns
Call us for an obligation free assessment of your property’s potential rent return.
Your investment is our priority. 07 5596 0055 | www.nfn.com.au
Preparing your home to rent. Preparing your own home for other people to rent is not as simple as just moving out and putting a for lease sign out the front. There are several things you should consider before letting strangers pay for the privilege of living in your castle. These same fundamentals apply to all investment properties. So, why prepare your home to rent? A properly prepared home will not only fetch a better weekly rent, and attract a better tenant, it will also help ensure the whole rental process is simple and easy from start to finish. There are things an owner would be happy to live with, knowing they could be fixed in time that a renter wouldn’t – and shouldn’t – have to deal with. And there are also some alterations that could make your home more appealing and stand out from the crowd, which means it is rented sooner and may even get you more rent. So here’s our checklist of what you should consider before renting out your home. If it’s broke, fix it. From the letterbox to the back fence, and everything in between, carry out any repairs to make sure your home is in tip top condition. This also applies to anything small that you’ve just grown used to living with, like mouldy bathroom grout, leaking washers, dripping taps, broken tiles or chipped paint. A small repair or some maintenance now could save you a bigger problem in the future. Inclusions. Think about what you will be leaving behind or letting the tenants use and make sure it’s in good working condition. For instance, if your kitchen has space for a dishwasher, it’s usually best to leave it as it can add value. Or if your laundry has a particular shaped space for a built in washing machine you might be better to leave it rather than expect a tenant to buy their own. Clean. You want your property handed back to you in good condition, so set the initial benchmark high. Just as you would if you were going sell, before you rent out your property give it a good spring clean and make sure it’s sparkling. Don’t just do the
basics – we’re talking a proper spring clean including: • Carpets; • curtains and blinds; • flyscreens; • windows; • garbage bins; • garage and more. Presentation. Prospective tenants are the same as prospective buyers – they’ll be more attracted to a well-presented property So while you might not want to go so far as to get the property stylists in, make sure you do your best to have it looking great for the photos and that it is tidy for any viewings. Don’t forget the outside. Is the letterbox in need of repair? Are the gutters clean? Is the fence in good condition? Are there any pests or insects you need to deal with? And make sure you mow, sweep, rake, prune and have the garden looking tip top. Add value. New paint, carpet and light fittings can be a cheap but effective way to update a property. Adding heating and cooling like reverse cycle air conditioning can potentially add value to a rental property. And so can a new bathroom or kitchen if the old one is very outdated but you’ll need to do your own cost benefit analysis and work out how long it will take to recoup the initial outlay. Your property manager or agent can best advise you on your particular situation. Insurance. You’ll need to let your insurance company know you’re no longer living there and arrange landlords insurance. Your tenant will probably want to get contents insurance and many companies require door and window locks to be of a certain standard. The fine print. Think about whether any aspect of your property might not meet current regulations or safety guidelines. For example, this could include pool fences, stairs, railings, balconies, blinds and curtains, glass and windows. Does the property meet electrical and water efficiency standards under your local Residential Tenancies Act? Landlords are also usually required to provide smoke detectors. Check the laws relevant to your property with your property manager or real estate agent.
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Whether You’re Selling, Buying or Investing... it’s one of the most important financial decisions you will make. Talk to First National Nerang, because real estate agents are NOT all the same...
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