Richardson&Wrench
South Brisbane
Quarterly Market Update July - September 2021
Luke Westmore
“To give real service, you must add something which cannot be bought or measured with money, and that sincerity and integrity.”
Emerging as one of the area’s most passionate agents, Luke’s integrity, honesty, fresh outlook, and understanding nature has seen him make his mark in the rapidly populating South Brisbane, Kangaroo Point and West End real estate markets. A devoted husband and father of four, Luke understands the emotion involved in property; whether it be buying or selling a family home or investment for your family’s future, Luke realises that it’s one of the biggest decisions of your life. It’s his down-to-earth nature that has earned him a reputation as a trusted advisor, which contributes to his undeniable success for over 15 years in management, marketing, and sales. These are the types of skill-sets that complement this role and see him in fierce demand and highly regarded by both clients and colleagues.
Luke Westmore
Executive Sales Agent luke@rwbrisbane.com.au | 0488 660 542
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R&W | 2021 Q3 Quarterly Market Update
Selling off the Market The way we live and work is changing daily
We have privately sold 1000’s of properties
and so is the way we buy and sell property.
Off-Market via these methods where other
Selling off the market; where there is no public
agents failed and wasted vendors' time and
advertising, is increasingly becoming the new
money on extra advertising.
normal for real estate.
Want to know how this would work for you or
With an off market sale there is:
what the ‘Off-Market’ value of your property
- No signage
is?
- No newspaper advertising
- No big marketing budget
- No mass open homes or auctions
- 24/7 concierge team with digital
contracts via docusign
Speak to Luke Westmore, the South Brisbane and West End Off-Market expert. 0488 660 542 luke@rwbrisbane.com.au
Luke Westmore and his team have been privately matching off-market properties with qualified buyers for many years.
R&W | 2021 Q3 Quarterly Market Update
© 2021 R&W. All Rights Reserved.
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House prices in Brisbane State School Catchments soar by 46% Via Domain
Brisbane buyers are splashing more cash on properties in key school zones, with new Domain data revealing house prices in some primary and secondary catchments soared by 46 per cent in the last year. West End State School, Kimberley Park State School in Shailer Park and Oakleigh State School in Ashgrove, were just some of the zones that outclassed their respective suburbs in annual median house price growth, with a third of all school catchments fetching 10 per cent of additional house price growth over the suburb. The compelling report has revealed just how much house-hunting parents prioritise education, said Domain senior research analyst Nicola Powell, with the spread of top-performing school catchments across Greater Brisbane further showcasing the city’s changing real estate appetite. “In the top 10 school catchments, there’s a variety of different price points but let’s be honest, it does not matter what price-point you’re purchasing at, you place a priority on education because we all want our kids to go to the best school,” Dr Powell said. “And because we have seen a shift as remote working becomes a normality, some families are going to be moving to outer suburbs,” Dr Powell said. “Others are also being pushed further and further away from our city centres because what they are seeking is affordability.” In the report, Dr Powell said a larger proportion of secondary school catchments outpaced the respective suburbs’ performance, at 56 per cent compared to 54 per cent of primary schools, while 92 per cent of all primary and secondary school zones analysed achieved house price growth. Despite the trend, the perennially popular West End State School catchment topped the list after annual house prices jumped by 41.7 per cent from $935,000 – this time last year – to an eye-watering $1.325 million. “And the market has picked up significantly since January.”
In the city’s southern outskirts, median house prices jumped by 35 per cent in the Shailer Park State School catchment to $624,500 and by 38.2 per cent in the nearby Kimberley Park State School zone to $620,000. Once considered too far off the beaten track, this pocket is now undergoing a real estate renaissance. Elders Shailer Park agent Luke Van Wijk said the suburb’s prime position between the Gold Coast and Brisbane, alongside affordable prices for spacious blocks, was now luring hundreds of families to the postcode with an abundance of schools fuelling the buyer surge. “It’s also the quality of life out here … and then you do get families that want to live near the schools,” Mr Wijk said. “A townhouse closer to the city in the range of $600,000 to $700,000 will get you a nice house here with a big block – so why wouldn’t you? “In fact, a lot of buyers are coming from Sunnybank because they have been priced out of there, and they can get more bang for their buck here … and it’s very leafy with walking paths and tracks everywhere.” Mr Wijk sold a five-bedroom family home at Park View Crescent – within the Shailer Park State School catchment – to parents of two Katherine and Mitchell Hill in late August last year after the couple stumbled across the “hidden gem” while seeking affordable family homes close to great amenities and schools.
“We moved down from Rochedale, and we realised just 10 minutes down the highway we could potentially get a block that was 1000 square metres-plus for a lot less … and we didn’t even know it existed,” Mrs Hill said. “When we intercepted this property, we inspected it mid-week, and there were already five offers after the first open home. We happened to be the second-highest offer, so we missed out, and we were devastated. But then the highest offer fell through.” And that, Mrs Jean Hill said, was before the widespread housing boom had struck. “We’re now in a five-bedroom, 3.5-bathroom home with a double garage and a swimming pool, and it’s just amazing. And we paid $690,000,” Mrs Hill said. “And with schools, we’re spoiled for choice … then there’s the lifestyle. It’s a really quiet suburb, and we back onto the state forest … and we’re a two-minute drive away from the school (where her oldest son Hendrix (4) will attend next year).” According to the Domain report, the highest-ranked secondary school zone was Kilcoy Park State School in Kilcoy, where prices skyrocketed by 36.6 per cent in 12 months from $448,750. Closer to the city, Oakleigh State School catchment at Ashgrove was ranked 10th after a 31.5 per cent price hike helped houses join the million-dollar median club, at $1,117,500.
Source: https://www.domain.com.au/news/house-prices-in-brisbane-state-school-catchments-soar-by-46-per-cent-1089891/
South Brisbane Units $495,500
287
1.54%
$480
5.04%
82.7
Weekly Median Rent
Gross Rental Yield
Days on Market
$
Median Price
Number of Sales
Quarterly Growth
South Brisbane Recently Sold Properties
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21201/33 MANNING STREET $446,000 Date Sold: 28 Sep 2021
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1503/15 MANNING STREET $899,000 Date Sold: 21 Sep 2021
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3005/15 MANNING STREET $2,195,000 Date Sold: 27 Sep 2021
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1301/2-4 EDMONDSTONE STREET $610,000 Date Sold: 17 Sep 2021
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32802/1 CORDELIA STREET $1,130,000 Date Sold: 22 Sep 2021
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38 HOPE STREET $430,000 Date Sold: 15 Sep 2021
R&W | 2021 Q3 Quarterly Market Update
Luke Westmore Recently Sold Properties
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1706/111 MELBOURNE STREET, SOUTH BRISBANE, QLD 4101 $687,000 Date Sold: 22 Sept 2021
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9/9-11 MANNING STREET, SOUTH BRISBANE, QLD 4101 $430,000 Date Sold: 16 Sept 2021
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704/148 LOGAN ROAD, WOOLLOONGABBA, QLD 4102 $515,000 Date Sold: 14 Jul 2021
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304/16 MERIVALE STREET, SOUTH BRISBANE, QLD 4101 $425,000 Date Sold: 05 Jul 2021
R&W | 2021 Q3 Quarterly Market Update
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503/148 LOGAN ROAD, WOOLLOONGABBA, QLD 4102 Price: Contact Agent Date Sold: 28 Jun 2021
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610/232 WELLINGTON ROAD, KANGAROO POINT, QLD 4169 Price: Contact Agent Date Sold: 14 May 2021
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What My Clients Say SELLER OF APARTMENT IN SOUTH BRISBANE Luke earned his commission, he worked extremely hard to sell my property during Covid and achieved a great price. He kept me informed all the time and had taken on tasks that helped me to sell the property. If I could recommend a property agent, it would be Luke hands down, he has been incredible and the work he has put in has been amazing. If you want a real estate agent that will work for you and achieve outstanding results, look no further than Luke, I cannot recommend him enough.
SELLER OF APARTMENT IN SOUTH BRISBANE Dear Luke, I just wanted to let you know how happy I am with the sale of my unit in South Brisbane. Your professionalism and knowledge of the South Brisbane area are fantastic along with your negotiation skills. As I live in Sydney it was important to me to have someone who could sort everything out for me without me being involved. You did that amazing well and I can't thank you enough. It goes without saying that I would highly recommend you to anyone thinking of selling.
SELLER OF UNIT IN SOUTH BRISBANE Dealing with Luke was a pleasure. He has sound knowledge of the market and was able to give us honest information when we needed it. We never once felt pressured into anything. Luke also went the extra mile and took extra steps to make sure the sale went smoothly.
SELLER OF UNIT IN NEWMARKET Luke is by far the most impressive real estate agent I've had the pleasure of working with. He was hugely knowledgeable and responsive, achieved my ideal sale price and went above and beyond for assisting with other tasks which needed doing, for example, liaising with the builder that was doing final touches on renovations, connected me with a brilliant solicitor amongst many other things. I cannot recommend Luke Westmore highly enough. I'll only ever sell my properties through Luke.
SELLER OF TOWNHOUSE IN KEDRON Luke is everything we could have hoped for in an agent and more! We had originally been speaking with another agent and were sick of being told all the reasons why we weren’t going to sell for what we wanted. Well Luke sold not 1 but 2 properties in a matter of weeks for WAY over the price we had been appraised by another agent. It is so refreshing to find an agent who comes through with his promises and looks after both his buyers and sellers.
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© 2021 R&W. All Rights Reserved.
R&W | 2021 Q3 Quarterly Market Update
R&W | 2021 Q3 Quarterly Market Update
© 2021 R&W. All Rights Reserved.
9
Proud ly Luke Westmore Executive Sales Agent
Email: luke@rwbrisbane.com.au Phone: 0488 660 542