Richardson&Wrench South Brisbane Quarterly Update Q1 2019
R&W South Brisbane | 2019 Q1 Quarterly Review
Š 2019 R&W South Brisbane. All Rights Reserved.
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Annamaria Nagy
“My wife and I recently purchased a house from Annamaria and she was, without a doubt, the best agent we have ever dealt with.�
Annamaria Nagy is a thorough sales agent, who strives to help her vendors
-- Matthew & Nora, WINDSOR
as New Zealand where she was involved in real estate development and
and buyers accomplish their property goals. Her well-balanced approach ensures that her clients receive exceptional customer service across all transactions. Annamaria has a customer-focused attitude and a passion for actively pursuing and rapidly achieving results and she brings this approach to the specialist areas of Inner Brisbane. With a Masters Degree in Commerce & Agriculture Engineering majoring in Sales & Marketing, she also brings a passion for architecture and interior design, couped with a strong appreciation for property investment. Born and raised in Hungary, Annamaria also spent several years in the UK as well sales. Annamaria is an experienced with a fine eye for detail.
Annamaria Nagy
Executive Sales Agent annamaria.nagy@rwbrisbane.com.au | 0417 944 239
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Š 2019 R&W South Brisbane. All Rights Reserved.
R&W South Brisbane | 2019 Q1 Quarterly Review
South East Queensland - Australia's New Investment Hotspot The Real Estate Conversation Media reports show that Sydney and Melbourne property prices have been the hardest hit in the downturn – but that is only because these hotspots had experienced unprecedented growth over a period of years that was simply not sustainable. SEQ property prices really are on the brink of a growth phase after almost a decade of stagnation. It never experienced the crazy growth that the southern states went through yet economic indicators are strong for sustainable, moderate growth moving forward. In fact, figures from CoreLogic’s Hedonic Home Value Index show Brisbane was the only major capital city in Australia to actually record growth in house prices at the end of 2018. And in 2019, prices in inner-city Brisbane are forecast to rise by around 4 per cent. More affordable house prices also mean that the Queensland property market is generally less exposed to growing uncertainty around tightening lending criteria and any further changes that may come into play as a result of the Royal Commission. Queensland’s buoyant rental market has been dubbed a “landlord’s market” and this is also great news for investors. Residential vacancies remain low and steadily declined throughout 2018 to around 2.8% in August 2018 according to SQM Research – down from 3.4% in August 2017. Queensland’s forecast growth is underpinned by affordable pricing, strong interstate migration, solid population growth and infrastructure. According to State Government projections, Queensland's growing population is expected to hit 6.7 million by 2036 and the State is committed to supporting this with high levels of government infrastructure spending. In 2016, South East Queensland’s population was 3.5 million and over the next 25 years, it is expected to reach 5.3 million people. This growth requires building more than 30,000 new dwellings each year.
R&W South Brisbane | 2019 Q1 Quarterly Review
© 2019 R&W South Brisbane. All Rights Reserved.
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Forest Lake 75
4.41%
House Sold
Median price increase
$450,000
Highest Sale Price
Lowest Sale Price
Price: $775,000
Price: $262,000
Median Sale Price
3%
$400
4.6%
82
Annual Capital Growth
Weekly median advertised rent
Gross rental yield
Days on market
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12.71%
Units sold in your farm area
Decrease in median price
$292,000 Median unit price
-3.5%
$355
6.6%
147
Annual Capital Growth
Weekly median advertised rent
Gross rental yield
Days on market
Recent Sales SOLD
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SOLD
1
1
11 NAPIER PLACE, FOREST LAKE Sale Price: $355,000 SOLD
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1
1
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4 SUMMERHILL PLACE, FOREST LAKE Sale Price: $338,000 SOLD
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2
12 CAYMAN PLACE, FOREST LAKE Sale Price: $700,000
4
3
SOLD
4
2
SOLD
2
2
3
82 CENTENNIAL WAY, FOREST LAKE Sale Price: $440,000
© 2019 R&W South Brisbane. All Rights Reserved.
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3 EDITH PLACE, FOREST LAKE Sale Price: $460,000
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3 MORAN CRESCENT, FOREST LAKE Sale Price: Undisclosed
R&W South Brisbane | 2019 Q1 Quarterly Review
What my clients are saying... DI'ANNE Annamaria and I first met a few years ago, she showed me through a property from an open for inspection ad, it wasn't quite what I was looking for, plus I wasn't 100% sure at the time if I was ready to purchase another property. Annamaria stayed in touch with me, educated me on what was happening in the market place by sending me emails and keeping in touch with the odd phone call. Annamaria took the time and had the patience in an agent I was looking for. Out of the blue, Annamaria sent me a text message saying she had what she felt was the perfect property for myself and my girls. I sent the message to my broker and she agreed. I inspected the property with my girls and they loved it. Annamaria made the negotiation process a breeze, she was there to hold my hand every step of the way through my purchase. I received weekly phone calls from her just so she could check in and see where I was at. She was able to attend inspections that I couldn't make and offer advice when needed. I would highly recommend Annamaria to anyone who is looking at purchasing a property. It was like buying a property from your best friend!
TERRY What a delight! From the moment we met with Annamaria at the open for inspection, Annamaria was there to answer my questions, show me the display apartment, and introduce me to Como Apartments. Once I was shown through APT 608, I realised this was going to be my new home. As they say, location, location, location! Within the following weeks, Annamaria was able to follow up with all my requests and before I knew it I moved into Como! Her professionalism during this process was impeccable, as was her attention to detail. Even on settlement day, to be greeted with a big red bow on the door and a bottle of bubbles, put a smile on my face after a stressful day. I would highly recommend Annamaria and Richardson & Wrench going forward for any further real estate ventures. Thanks again Annamaria you made my purchasing a new home a wonderful experience.
MATTHEW AND NORA My wife and I recently purchased a house from Annamaria in Bridgeman Downs. She was without a doubt the best real estate agent we have ever dealt with (and we have dealt with a lot of real estate agents previously). What set her apart was that she actually seemed genuine and went out of her way to do the best for us. We also really enjoyed the fact that she kept us up to date with the sales process and was very knowledgeable about all aspects of the sale. Furthermore, real estate aspects aside, she is just a friendly, good person to deal with. All in all we are extremely happy with Annamaria and she has our full recommendation!
R&W South Brisbane | 2019 Q1 Quarterly Review
Š 2019 R&W South Brisbane. All Rights Reserved.
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Confidence Returning to Inner Brisbane Apartment Market Via The Urban Developer
Brisbane’s apartment pipeline, which suffered throughout 2018, looks to have turned a corner thanks to the improving conditions which will bring the city’s apartment supply into balance.
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While property values are continuing to fall in many parts of Australia, Brisbane’s market seems to be steadily gaining pace — directly benefiting from Sydney and Melbourne’s slowdown. During 2018 apartment values in Brisbane fell by 0.7 per cent while house values rose by a modest 0.4 per cent, an overall growth of 0.2 per cent. According to Colliers International, declining supply in the apartment sector is now stimulating developer interest, with a number of key factors contributing to the improving market conditions. The new potential state of an undersupplied market has created a renewed sense of urgency as the city continues to welcome approximately 25,000 new residents per year. Queensland also benefits from the highest employment growth reaching 4.3 per cent for the 12 months to September 2018. At this time there are 185 new major apartment projects proposed across inner Brisbane, totalling around 48,250 apartments, however, just some 30 per cent are under construction and an addition 17 per cent are “probable” over the next two to three years. “While there remains come uncertainty around the upcoming Federal Election and impact of the recent Banking Royal Commission, the declining supply is stimulating developers’ interest,” Colliers International executive James Forrester said.
© 2019 R&W South Brisbane. All Rights Reserved.
R&W South Brisbane | 2019 Q1 Quarterly Review
“By the end of 2019, approximately 3,000 apartments of the current committed supply will remain under construction in the inner Brisbane.” “This is only a fraction of what we experienced in late 2017 when there were over 15,000 apartments under construction.” Brisbane, which was flooded with units 18 months ago, has since seen close to two-thirds of apartment projects planned for the city ditched or deferred. Surprisingly, no new apartment projects launched over the last quarter, however by the end of the first half of 2019 a large number of new apartment projects are anticipated to launch across the river city. Liveability, affordability, scale and future economic prospects has led analysts to suggest that Brisbane has the foundations to grow over the course of 2019. Consultancy BIS Oxford Economics expects new apartment completions in Brisbane this calendar year of 5,700 — almost half of the 10,700 they peaked at in 2017. “The site transactions volumes within 5km radius of the CBD bottomed in 2018 when over $350 million in sales was recorded, compared to $1 billion at the peak of the market in 2015.”
R&W South Brisbane | 2019 Q1 Quarterly Review
Brisbane’s apartment market in numbers • Brisbane average apartment price – $831,884 • Brisbane most popular apartment configuration – two-bedroom, two-bathroom makes up 53 per cent of transactions
Looking ahead... Corelogic is betting on another year of modest gains for Brisbane supported by interstate migration. “Net migration rates into Brisbane should drive growth into 2019,” CoreLogic head of research Tim Lawless said. “It’s more important as interstate migration is more likely to include buyers.” Economic forecaster BIS Oxford Economics says Brisbane will lead the capitals, with 13 per cent property price growth predicted by 2021, although the majority of this growth will occur in 2021. Moody’s Analytics expects apartments to outperform houses throughout greater Brisbane in 2019, as the city continues to ‘defy’ the national housing downturn.
© 2019 R&W South Brisbane. All Rights Reserved.
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Proud ly Annamaria Nagy Executive Sales Agent
Email: annamaria.nagy@rwbrisbane.com.au Phone: 0417 944 239