C O R E Y S H I P P
P R E S E N T S
R E P O R T JULY TO SEPTEMBER 2024
T H E G E E B U N G
MARKET UPDATE
As we reflect on the previous quarter, we are optimistic as we move into the Spring selling season Traditionally, the winter months in real estate tend to be quieter, with fewer properties entering the market However, this winter defied expectations, with strong attendance at open homes, a significant number of registered bidders, and reduced days on market Geebung has continued to demonstrate resilience, now boasting a median sale price of $1,000,000, representing an impressive 19.8% increase over the past 12 months, according to Realestate com data
Property owners in the area are actively investing in their homes, whether through comprehensive renovations, maintenance, or new developments This commitment to improvement is contributing to Geebung's ongoing gentrification and enhancing its appeal.
Looking ahead, we see no indicators of a market downturn With interest rates remaining stable and discussions suggesting potential decreases, confidence among buyers and sellers is on the rise This renewed optimism signals a willingness among buyers to invest more in properties, which bodes well for our market dynamics.
As has always been the case, implementing the right strategy for your property is essential to maximising market opportunities and achieving a premium result while ensuring a seamless transition
The purpose of this report is to provide insight into the current market conditions. Should you have any questions or wish to discuss any of the information presented, I would be more than happy to discuss further
Corey Shipp
Corey Shipp
LicensedRealEstateAgent 0448043913 coreyshipp@raywhitecom
EBUNG A GLANCE
g is renowned for its peaceful, family-friendly ere, boasting amenities like cozy coffee shops, gyms, and convenient medical clinics The suburb for its warm, welcoming community, making it an place for both residents and visitors. With a rich nd ongoing renovations of charming post-war Geebung continues to evolve and expand
sport: Accessible via State Route 10, Gympie /A3, and M7/Airport Link, with convenient slink public transport options
ory: Originally named Geebong, the name ences local bushes and trees from the Personia es, with roots in an Aboriginal language from the ey area. Geebung is situated on the ancestral of the Turrbal People.
pping: Enjoy local convenience at Geebung venience and explore nearby shopping nations including Taigum Square, Aspley Village, tfield Chermside, and DFO Brisbane
ical Services: Access quality healthcare at bung Medical Clinic, with additional facilities such ald Hills Doctors, Prince Charles Hospital, St ent’s Private Hospital, and Chermside Day
pital nearby
ation: A range of public and private educational utions are available, catering to diverse learning s
you've been in Geebung for decades, years, or w months, it quickly becomes clear why so many cted to the area From excellent transport links notch public and private schools to thriving local es, Geebung has much to offer However, it's the ense of community and the welcoming nature of nts that truly define this cherished suburb.
GEEBUNG SNAPSHOT
$1M
MEDIAN SALE PRICE (12 MONTHS)
19.8%
SUBURB GROWTH (12 MONTHS) 78
# SOLD PROPERTIES (12 MONTHS)
GEEBUNG SALES OF THE QUARTER
BUSINESS SPOTLIGHT
Established in early 2016, family-owned Fox Coffee found its home in Geebung affectionately known as the “Paris of the North!”
As the community flourished, Fox Coffee expanded in 2020, taking over the entire corner building at Bilsen and Ellison roads. By 2022, they had added a second roaster, enhanced their kitchen, and increased seating capacity to accommodate their growing clientele All of this would not be possible without the ongoing support that the community has shown over the years
While specialty coffee remains at the heart of Fox Coffee’s mission, an enticing selection of savoury dishes and delectable treats has also gained popularity among patrons.
For those who can’t visit the Roastery in person, Fox Coffee offers an array of roast blends and Single Origins available for purchase at www foxcoffee com au
Open seven days a week from 6:00 AM to 2:00 PM, Fox Coffee is Geebung’s go-to destination for premium coffee whether you prefer takeaway or dining in, the choice is yours!
FOX COFFEE
3 Ellison Rd, Geebung QLD 4034 (07) 3216 2318
www foxcoffee com au
WHY RAY WHITE WILSTON
Ray White Wilston is recognised as a market leading agency known for its innovation, dominant market share, auction prowess and superior results Yet our commitment goes beyond selling houses At Ray White Wilston, our commitment is to achieve excellence in every aspect; in other words to be best in market
This applies to everything we do – from our strategic locations, comprehensive agent support, to our impactful marketing strategies, and our unmatched leadership and culture; all aimed at delivering market leading results & experiences to our clients
Our unrelenting focus on being best in market is grounded in our belief that real estate transactions have the power to shape lives for the better Whether guiding a family to their dream home, or aiding a seller in reaching their financial aspirations, our team is integral to positive life changes
Understanding the importance of our agents’ roles, we prioritise their support, leadership, and constant development. We intentionally foster an environment where our people feel fulfilled and aligned with their purpose, because only then can they be best in market
Partnering with Ray White, Australia’s leading real estate network, our agents have exclusive access to cutting edge technology and systems that further enhance their performance as well as improving their client’s experience
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PROPERTY MANAGEMENT UPDATE
Average Rental Price: $700
Vacancy Rate: 0 8%
Demand remains strong as job growth and lifestyle in QLD continues to attract new residents Properties in desirable neighbourhoods are seeing quicker turnaround times, often with multiple applications within days.
The Queensland rental market continues to perform and exceed expectations The strong market reflecting a high demand for rental properties is creating rising rental prices, lower vacancy rates, and a competitive environment for tenants
The demand for homes in Brisbane's inner and middle-ring suburbs are outperforming the outer suburbs Despite the demand for apartments, townhouses in inner suburbs are becoming a more popular choice, the scarcity of available properties has posed challenges for tenants, contributing to a highly competitive market
Nevertheless, the Brisbane property market has demonstrated resilience, with positive trends in sales activity pointing towards accelerated price growth
Contact us today to learn more
Xavier Hamilton
0420 541 913
xavier@housemark.com.au
LOAN MARKET UPDATE
Reflecting on Q3, there have been promising economic developments. Inflation has steadily declined from 3 5% in July to 2 7% in August, marking a return to the Reserve Bank’s target range of 2-3% for the first time since August 2021
This downward trend signals that the measures to curb inflation are taking effect, which is positive news for the broader economy. In response, we are starting to see banks react by adjusting their fixed rates, some now dropping as low as 5 39% This has sparked renewed buyer confidence, with a "fear of missing out" emerging in the market
If this trend continues, banks may project further rate reductions as early as February 2024. For borrowers, this shift means enhanced borrowing capacity and potentially lower repayments, which could translate to more competitive opportunities in the property market
As we enter the busy spring selling season, many of our clients are taking advantage of the current conditions to position themselves strategically.
We’re seeing homeowners preparing their properties for sale to either upsize, downsize, or reinvest their built-up equity This increased activity is leading to a more dynamic market, making it a pivotal time for both buyers and sellers to assess their financial strategies
Contact us today to learn more
0476 550 710
tuba dissanayake@loanmarket com au
COMMUNITY ENGAGEMENT
This quarter, we decided to take a unique approach, inspired by my passion for coffee and my upbringing in a family involved in the hospitality industry I recognise the vital role that hospitality businesses play in our community
To celebrate this connection, we partnered with Peter from the Fox Cafe to create 1,700 Keep Cups for every household in Geebung As a special gesture, we ’ re pleased to offer the first coffee fill on us! We hope you enjoy both the cups and the coffee, and if you haven’t yet visited the Fox Cafe, now is the perfect time to do so The entire team at the Fox is excited to welcome familiar faces as well as new ones
These initiatives would not be possible without the support of our local community, so we extend our heartfelt gratitude to Geebung for your continued encouragement With your ongoing support, we look forward to giving back and contributing to the vibrant fabric of our amazing community
Corey Shipp | Geebung