Camp Hill Buyers Guide – Read this Before You Buy

Camp Hill Buyers Guide – Read this Before You Buy

 

Camp Hill

 

Are you looking to purchase a home or investment property in Camp Hill? How do you determine if this is the right suburb for you? As Camp Hill Buyers Agents we have made it easy for you by compiling information about the suburb that is important to know when considering this suburb for your home or investment purchase.

Camp Hill Buyers Agent

 

Geography

 

Camp Hill is located approximately 6km south-east from the Brisbane CBD. Parts of the area are hilly, with fabulous views to the city and beyond. It’s a quiet, leafy suburb with wide streets and a variety of shops which makes it favourable for retirees and young families. More recently it has become popular with young professionals for the views and post-war houses that can be removed and new executive homes built in their place.

Old Cleveland Road runs through the middle of the suburb and has a range of retail stores, cafes and apartment buildings. Traffic is very busy around this area of the suburb and around the major roads that run north to south – Boundary Road and Wiles Street.

Camp hill buyers agent

Whites Hill Reserve is a big nature drawcard for the area as well and the newer Camp Hill Marketplace with a range of shops, cafes and restaurants is an excellent retail area. The quaint Martha Street dining precinct is also much loved. 

 

 

Camp Hill Buyers agent Buyers agent Camp Hill Camp Hill Buyers agent

 

Transport

 

Depending on where you are in Camp Hill the closest train station is Norman Park Station or Coorparoo Station which are both on the Cleveland rail line. 

Camp Hill Buyers agent

Buses into the CBD or to train stations run from multiple bus stops. For example, here are the bus stop locations around Camp Hill Marketplace.

 

  You can have a look at the bus routes on the Translink website.

 

 

Education

 

Holland Park Buyers AgentsFor the little people in your life, there are the following early childhood centres located in Camp Hill:

Camp Hill Kindy – the C&K Kindergarten is a:

community based, non-profit organisation run by parents for their children, servicing the Camp Hill, Carina, Carina Heights, Seven Hills, Norman Park, Coorparoo, Holland Park and Carindale suburbs.

Avenues Early Learning Centre which employs a chef to provide fresh meals daily for the children.

The Learning Sanctuary also provides freshly cooked meals and has a “dedicated Zen room for projects, meditation and yoga.”

Timber Tots Childcare is a long daycare facility that is family operated and privately owned.

 

Buyers agent Camp HillMoving into Primary School there is Camp Hill State Infants and Primary School, Whites Hill State College – which teaches from Prep to Year 12, Coorparoo State School if you’re on the western side of Camp Hill and to the east, Mayfield State School

Private primary schools in Camp Hill St Thomas’ School and nearby, St Joachim’s School in Holland Park, St Martin’s Catholic Primary School in Carina Our Lady of Mount Carmel School and St James Primary School both in Coorparoo.

For high school, once again there is Whites Hill State College and Coorparoo Secondary College depending on your location in the suburb. 

Buyers agent Camp Hill

For private high schools in the area for girls there are:  Our Lady of Mount Carmel School in Coorparoo; San Sisto College in Carina;  Loreto College Coorparoo. For boys there is Villanova College and Churchie in East Brisbane.

You can search for the school catchment by address here and read more in-depth about these zones in our blog How to Find the Best School Catchment Zone in Brisbane.

 

Amenities

 

Buyers agent Camp HillCamp Hill has a variety of cafes, retail, groceries and restaurants at Camp Hill Marketplace, Martha Street and in retail zones on Old Cleveland Road and Bennets Road.  The Camp Hill Antique Centre and Tart Cafe on Old Cleveland Road is quite unique in that it offers up to 70 antique dealers and collectors under one roof and also offers workshops and exhibitions. For more information have a look at their website here.

For bigger retail stores there are Carindale and Garden City shopping centres relatively close by.  Other amenities close by include the Camp Hill Bowls Club – The Hill.

The club has sweeping views of the city skyline, is adjacent to parklands, has outdoor seating and boasts the highly regarded Pan Thai Restaurant. We offer one of Brisbane’s best Sunday afternoon sessions with live music on the community green. 

For an overview on some of the places to visit in Camp Hill read the ‘mustdobrisbane.com’ guide here. *Please note that Martha Street Kitchen is no longer operating.

 

Green Space

 

Holland Park Buyers AgentCamp Hill’s major green space is White Hill Reserve where you can see native wildlife such as koalas and swamp wallabies. The suburb shares the reserve with Holland Park and there are sporting fields and opportunities for bushwalking as well as a bike path through part of the reserve and mountain biking opportunities.

The reserve also has an excellent playground and picnic areas. You can read more about that here on the Brisbane Mum’s Group website.

 

Camp Hill Buyers agentsCamp Hill Buyers agentThere are 9 other parks in Camp Hill, most notably Lavarack Park near Stanley Road which has a short walking loop and children’s play equipment, Perth Street Park backs onto the Camp Hills Bowls Club and has BBQ facilities, playground and a fenced off dog park.  Bowie’s Flat Wetland is on the western boundary of the suburb and continues into Coorparoo. It has a manmade lagoon which attracts a variety of birds and lizards. Here’s a brief overview of the area – mustdobrisbane.com.au.

You can find more information about the parks on the Brisbane City Council website.

 

 

 

Employment Hubs

 

Locals living in Camp Hill either work in the local retail areas, schools or commute to the CBD, Griffith University or to various employment hubs in neighbouring suburbs.

Camp Hill is approximately 19km to the Airport. Generally the M1 is the fastest route but this does include a toll.

 

Typical Property Style

 

Camp Hill typically has post-war homes on larger blocks. As these post-war homes are ripe for a big renovation or demolition there are also many new executive homes in the suburb as it becomes increasingly popular for young professionals and families.

There are smaller developments of apartments and townhouses mainly located on the busier roads in the area.

Camp Hill Buyers agent Buyers agents Camp Hill
Camp Hill Buyers agent Camp Hill Buyers agents

 

Demographics

Camp Hill is a relatively wealthy area with the weekly family income at $2,487 (Queensland avg. $1,661). According to SQM research, the percentage of owner-occupiers is at 70.96% and 29.04% for renters.

 

The top 3 life stages for people living in Camp Hill are:

 

Maturing couples and families 20.2%

Established couples or families 18.1%; and

Older couples and families 15.2%.

 

 

Most Desirable Area

 

Camp Hill Buyers agentsThe most desirable areas in Camp Hill are elevated in quiet, wide streets with city views.  A few examples of the streets with city views are –  Newman Avenue, Brown Street, Watson Street, Carranya Street and The Promenade.

 

Families love being within walking distance to a park with a playground and exercise equipment. It is also preferred to  be in walking distance or a short drive from cafes and restaurants. 

 

 

Least Desirable Area

 

The least desirable areas in Camp Hill are on the main roads. There are very few properties affected by flood and only those properties near Whites Hill Reserve need to be aware of the bushfire risk as shown in this snippet.

Camp Hill Buyers agent Camp Hill Buyers agent

 

 

Median Price Values

 

The median price value for houses in Camp Hill as at August 2020 is $875,000 with the upper quartile price at $1,148,125 and the lower quartile price sitting at $761,250.  If you’re looking to buy one of the new executive homes, then expect to pay well over over $1 million and more if it has full city views.

The median price value for units is $461,500 with the upper quartile price at $598,750 and the lower quartile price sitting at $403,000.

 

Suburb Growth

 

The compound growth rate for Camp Hill over the last 5 years to September 2020 has been 3.8% for houses and 0.5% for units.

The rental property vacancy rate according to SQM research at September 2020 was 1.4%

There is also the Camp Hill Community Facebook Group that you can request to join to ask questions and make connections with locals.

 

I hope this information has been helpful on your quest to buy your next property in Camp Hill.  If you need further help to secure a property in this location we can help, please reach out by booking a discovery call through the link below to your Camp Hill Buyers Agents.

 

 

Would you like to understand more about working with a Buyers Agent in Brisbane?

 

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Taringa Buyers Guide – Read This Before You Buy

Taringa Buyers Guide – Read This Before You Buy

Taringa

 

Are you looking to purchase a home or an investment property in Taringa?  How do you determine if this is the right suburb for you?  As Taringa Buyers Agent we have made it easy for you by compiling information about the suburb that is important to know when considering this suburb for your home or investment purchase.

 

 

Geography

 

 

Taringa is located approximately 5km south-west from the Brisbane CBD.  It sits between Toowong and Indooroopilly with Moggill Road running through the middle of the suburb providing road access to these major retail areas.

Taringa buyers agent

The area is known for its access to a wide range of amenities and its mix of residential and commercial areas. There are stand alone houses in green leafy parts of the suburb, some with large lots of land and views to the city. Most of the elevated properties are located along the ridge that Swann Road traverses.

Due to Taringa’s proximity to the University of Queensland and to the CBD and Queensland University of Technology it is very popular with students. These students are catered for with a wide array of units and townhouses.

Taringa has a couple of heritage listed sites including the memorial located at 103 Stanley Terrace – Pilot Officer Geoffrey Lloyd Wells Memorial Seat and Fulton House which is a stand alone house built in 1940 on Indooroopilly Road.

       

 

Transport

Taringa railway station provides good access to the city, Kippa-Ring, Ipswich, Rosewood and Springwood. 

The following bus routes service Taringa:

Route 414; Route 415;  Route 428; Route 453.

 

Education

 

There are a couple of early childhood and kindergarten options directly in Taringa:

 

Of course there are other options in neighbouring suburbs if you can’t get an enrolment at these facilities. You can search for them here

Buyers agent TaringaThere are two options for local state primary schools in Taringa. Depending on where you are located in the suburb, the catchment zones include Ironside State School and Indooroopilly State School. Both schools are excellent and achieve high academic as well as all round success.  If you’re looking for a private primary school there is Holy Family Primary School in Indooroopilly; St Ignatius School Toowong

State High Schools for Taringa are Indooroopilly State School which has a number of excellence programs and also the International Baccalaureate Diploma Programme (IB).  

It’s always important to check the catchment for a particular address if you’re focused on your child/children attending a particular school. You can search for the school catchment by address here

Some of the private secondary schools that are in the area are:

 

 

For more school you can search the Good School Guide here and for more in-depth information about school zones read our blog How to Find the Best School Catchment Zone in Brisbane.

 

 

 

Amenities

 

 

Taringa buyers agent

There are some retail shops on Moggill Road in Taringa. For the bigger retail stores very close by is Indooroopilly Shopping Centre and also the smaller Toowong Village. Also located in these locations are multiple cafes and restaurants. There are also some smaller areas including the refurbished Hillsdon Road Centre.

We’re a small funky group of character listed shops nestled in the leafy western suburbs of Brisbane. The centre was originally one tiny shop back in the early 1930’s.

 

Another couple of other smaller cafes are Avid Coffee Lounge on Swann Road and Scatterbean on Princess Street. 

There is a new local retail area proposed for the corner of Swann and Moggill Roads providing a more marketplace feel to shop for groceries. You can have a look at the proposal here.

Green Space

Parks available in Taringa include Jack Cook Memorial Park on Gailey Road which includes athletics facilities, a cricket pitch as well as a playground and outdoor fitness equipment.  Oakman Park aka Toowong Sports Ground is the base for West Juniors Australian Football as well as having a bikeway, sports field, wood BBQ and playground. It was actually a sports field and venue for Penny Farthing races way back in 1880! For the history of the park the article is on Must Do Brisbane.

For the list of parks in Taringa you can have a look at the Brisbane City Council’s website here. The availability of green space is not just limited to the suburb though with easy access to neighbouring suburbs. 

Buyers agent Taringa Taringa buyers agent Buyers agents Taringa

 

 

Employment Hubs

 

Locals living in Taringa either work in the universities, CBD or local retail areas and schools in the neighbouring suburbs.

The most direct driving route from Taringa to the Airport is 17.8kms. There is also the convenience of using the train and connecting with the Airtrain.

 

Typical Property Style

 

Taringa typically has a mix of stand alone houses, units and townhouses. There are leafy family friendly areas which have a mix of pre-war character homes, post-war weatherboard homes and new modern homes built on lots where the post war homes have been removed.

As stated earlier, due to Taringa’s proximity to UQ and to the CBD and QUT it is very popular with students. These students are catered for with a wide array of units and townhouses. A lot of the unit complexes are close to main roads.

Taringa buyers agents Taringa buyers agents

 

 


Demographics

 

Taringa is an area of increasing wealth with the weekly family income as at September 2020 at $2,466 (Queensland avg. $1,661).  According to SQM research, the percentage of owner-occupiers is at 52.45% and 47.55% for renters.

 

The top 3 life stages for people living in Taringa are:

 

Independent Youth – 37.1% (Couples, Singles and Homesharers under 35); 

Maturing and Established Independence – 14.1% (Singles and Homesharers aged 35-54); and

Older Independence – 10.7% (Singles and Homesharers aged 55-64).

 

Most Desirable Area

 

Buyers agent Taringa

The most desirable areas in Taringa for owner occupier buyers are in elevated leafy streets. Home owners and investors alike seek to buy within walking distance to the train station but far enough away not to be impacted by the railway noise. Also close to shops is useful for uni students who may not have a car. 

Least Desirable Area

The least desirable areas in Taringa are on the main roads as not only is there noise impact but also air quality impact. The train line also impacts part of the suburb due to the noise. The map below shows the areas effected by noise.

Buyers agent Taringa Morningside buyers agent

 

There is also risk of creek flooding and overland flow.

Taringa buyers agent Taringa buyers agents

 

 

 

Median Price Values

 

The median price value for houses in Taringa as at September 2020 is $942,500 with the upper quartile price at $1,229,500 and the lower quartile price sitting at $838,750. 

The median price value for units is $395,500 with the upper quartile price at $488,750 and the lower quartile price sitting at $342,250.

 

Suburb Growth

 

The capital growth rate for Taringa over the last 5 years to September 2020 has been 16.7% for houses and -0.7% for units.

The rental property vacancy rate according to SQM research at August 2020 was 4.4%

 

 

I hope this information has been helpful on your quest to buy your next property in Taringa.  If you need further help to secure a property in this location we can help, please reach out by booking a discovery call through the link below to your Taringa Buyers Agents.

 

Would you like to understand more about working with a Buyers Agent in Brisbane?

 

Book in for a FREE Discovery Call with Streamline Property Buyers

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Read our other Content Now!

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7 Steps – Where to Buy an Investment Property

7 Steps – Where to Buy an Investment Property

Australia is a very big country, so it may be daunting to begin the process of understanding where to buy an investment property and where the right location to invest in property might be.

But it doesn’t have to be overwhelming.

With a few handy hints and a defined path, you should be able to decide for yourself where and what type of property investment might be right for you.

And not surprisingly, the best place to buy an investment will vary from one investor to the next because it depends on what you want to achieve, how much money you have and what your tolerance to risk may be.

Let’s explore in more detail how to find a location that will deliver the results you are after.

 

couple considering where to buy an investment property1. Define your Investment Goals

The very first step in determining where to buy an investment property, is actually quite simple, but often overlooked.

As an investor, you need to understand what your property investment goals are.

See, I said it was simple!  You already know where you are, but you need to define where you want to go and then put the steps in place to get there.

Some investors are looking to increase and supplement their income now, and others are looking to build long-term wealth for the future.  Some investors may also have the capacity to add extra value to a property through renovation or development.  The skills that you have may help with the steps to achieving your goals, so it is a good idea to understand what type of investor you are going to be. 

Our article on 3 Proven Ways to Make Money through Property Investment is a good place to start if you are unsure of what you are looking to do.

Goal setting is also important so that you understand what type of strategy will be required and therefore what locations might be best suited to your investment strategy.

The time frame and risk appetite of an investor for achieving those goals also matters because this helps to determine location and investment strategy.

For those needing help to set their goals, there are some useful resources available including Goal Setting Guides.

Property investing should never be a one size fits all approach, because there are a lot of variables that should be considered based on an individual investor’s personal circumstances, and different locations will be better suited to different investment strategies.

2. Understand what investment strategy you wish to implement

property investment strategy Once your goals are clearly defined, the next step is to understand the investment strategy that is right for you.

For low risk investors, the strategy might be a simple buy and hold approach.  

For others who may have more time available, or have some level of home improvement skills, a buy and renovate strategy may work.

And then, for those with a higher budget and a higher risk appetite, a buy and develop strategy might suit.  We have provided some ideas for Sophisticated Property Investment Strategies previously.

What ever the strategy ends up being, there are obviously some geographical constraints to some strategies – especially if you intend to get your hands dirty and do it yourself.  These all need to be factored in to selecting the location that will best work for you.

3. Understand the Supply and Demand for an Area to determine where to buy an investment property

The one thing fundamental to all property prices is supply and demand. You can get an idea of the supply of new dwellings by seeing how much land is available in an area that is yet to be developed.

To do this, simply check out google maps, enter the property details and select satellite image.  You will then see if there is a lot of land around the site that is not yet developed.   

Some suburbs are what we call “land banked” suburbs which simply means the only way the density of housing can be increased is by infill development as there is no spare land available.

So, new supply can come in the way of higher density development as well (think townhouses or multi-level unit developments).  Understanding the dwelling approvals and building commencements for an area may also help you to determine if the area you are considering may be impacted by new supply to the market in the foreseeable future.  This should definitely be considered before you determine where to buy an investment property.

Demand can also be influenced by a number of things.  Population growth to an area usually indicates increased demand as people need somewhere to live. 

New jobs created in an area, the development of infrastructure and an improving local economy is likely to also increase demand.

Suburbs that are gentrifying, as evidenced by a changing demographic, more cafes and lifestyle precincts are also more desirable and therefore likely to be in higher demand.

Studying the vacancy rate trends of a suburb can provide some insights into the underlying supply and demand for rental properties in an area and can uncover seasonal trends that can impact on the investment return for a particular location.  Often very low vacancy rates can also be a sign of very high demand in an area, and this can sometimes result in upward pressure on prices.

Having a good understanding of all of these drivers at a local level in the area you are looking to invest, will help you to determine if there are a lot of properties, but not enough buyers (which tends to result in prices stagnating or dropping).  

Alternatively if there are not enough properties available for buyers but an increasing number of buyers looking to live in an area (which tends to result in upward pressure on prices). 

These factors all need to be considered when you are working out where to buy an investment property.  

4. Study the ripple effect

where to buy and investment property ripple effectRiding the wave of the “ripple effect” in property can have its advantages in identifying a suburb that is likely to grow in value in the near future.

The way experienced investors identify these areas is by studying the suburbs that have already experienced a high level of growth, and then looking at the nearby suburbs that share many of the leading suburb’s characteristics.

Of course, this needs to be considered with caution, because the “ripple” suburbs need to have features like access to quality schools, leisure facilities, health care, transport and infrastructure that match as closely as possible the features of the suburb that has already experienced the superior capital growth.

Combined with the other tips, this can be a useful strategy to identify those suburbs that are likely to experience some superior capital growth in the years ahead.  When you buy an investment property, this type of research is critical to understand what the future performance of that asset might be.

5. Understand the demographics of a location

Identifying who lives in a certain location can help you as an investor to understand who your tenants are likely to be in a particular investment area.

Demographic data such as household income, median age and % of owner occupiers to renters can provide a snapshot of the area you are looking to invest into.  You can search this data using FREE online resources available on the property data websites

Here is a quick video on the important of checking the income growth in an area before you buy.

It is always important to understand, based on this type of information, who a suburb is made up of as this often helps to determine if the suburb is right for your strategy.  Again, this is another important part of the puzzle to research at a local level before you work out where to buy an investment property, regardless of the city or town you are considering.

6. Consider the Rental Yield before you buy an Investment Property

Achieving a high rental yield is obviously important if a cash flow strategy is going to help you achieve your property investment goals. But determining the rental yield of an area can also be a helpful indicator to determine where to buy an investment property for other strategies as well.

graph of rental yields to determine where to buy an investment propertyAreas with higher rental yields are often made up of a high proportion of investors, but not necessarily a lot of people looking to buy. 

The percentage of owner occupiers to renters is usually out of balance with the natural distribution of buyers in the market at any time.

 

This means that capital growth can often be compromised as the property value is not driven by owner occupiers (who tend to buy with more emotion) but rather by investors (who buy with a calculator).

This can result in higher risk when it comes time to sell, as it may take longer to offload a property when the size of the market is restricted when the dominate target market is limited to property investors.

 

7. Select an area you are confident will deliver results

When planning where to buy an investment property to add to your overall portfolio, location is the key to getting the results you desire.

The land component is the part of the purchase that usually appreciates over time, whereas the building component depreciates as we have previously outlined in detail.  The best advice I can give is don’t invest in a location, unless you understand all of the above indicators about that area. Then if that location matches your goals and strategy you can move forward with confidence. If not, don’t just jump in for the sake of it because you could be exposing yourself to risk.

For those looking to buy investment property data can provide some useful indicators.  For an in-depth review on the caution you should take when relying on investment property data alone, you can access our article on Relying Solely on Property Data for a complete summary.

Property Investment should involve a lot of research to ensure you achieve your desired results. If you don’t know what or how to find the location, get expert help. And even then, ask your advisor to provide a detailed description of why a particular location may have been recommended for you. Ultimately if you are spending the money to purchase an investment property, you should be confident that the location, and the property itself, will deliver the results you are after.

Melinda Jennison

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Alderley Buyers Guide – a Useful Guide Before You Buy!

Alderley Buyers Guide – a Useful Guide Before You Buy!

Alderley

 

Are you looking to purchase a home or an investment property in Alderley?  How do you determine if this is the right suburb for you?  As Alderley Buyers Agents we have made it easy for you by compiling information about the suburb that is important to know when considering to purchase a home in this suburb.

Alderley buyers agent

 

Geography

 

 

Alderley buyers agentAlderley is located approximately 7km north-west of the Brisbane CBD.  The suburb is known for its access to 30 hectares of bush at Banks Street Reserve while still having a good range of family friendly homes and access to a wide range of amenities and public transport.

Its central location and green leafy residential parts of the suburb complement the retail areas scattered throughout the area. Alderley therefore attracts a high level of families and young professionals to the area and has seen a significant increase in property prices over the last few years. 

*In the 2019 Deloitte and Tract study, Alderley rated as Brisbane’s #1 most liveable suburb in comparison with 260 Brisbane suburbs. You can read about Domain’s Liveable Brisbane study here.

 

Alderley has a number of heritage-listed sites, including: 16 Quarry Road: Strathearn;  39 David Street: Farrington House and; 117 Mina Parade: Newmarket Brickworks Chimney

You can read about the history of Alderley here.

Alderley buyers agents       

 

Transport

Alderley railway station provides good access to the city on the Ferny Grove to Beenleigh line. Residents in the south part of the suburb can easily access Newmarket station as well.

The 360 and 345 bus routes keep the surrounding suburbs connected with Alderley. You can check their timetables on the Translink website here.

 

Education

 

There are a couple of early childhood and kindergarten options in Alderley:

  • Buyers agent AlderleyNurseryland Childcare Early Learning Centres – click here for their website
  • Alderley Kindergarten – click here
  • Banks Street Kindy – click here

Of course there are other options in neighbouring suburbs if you can’t get an enrolment at these facilities. You can search for them here

 

Alderley buyers agentThere are four local state primary school catchment zones Alderley! The main two are Oakleigh State School and Newmarket State School. There are however a couple of pockets that just sneak into Wilston State School catchment zone and Enogerra State School. So always check the specific catchment zone of an address if you have your heart set on a particular school for your children. You can search for the school catchment by address here

 

State High Schools for Alderley are Everton Park State School and Kelvin Grove State College which has many excellence programs.

 

Some of the private secondary schools that are in the area are:

 

Alderley Buyers Agents

For extracurricular education for children and adults there is also the The Brisbane Japanese Language and Culture School on Samford Road – www.brisbanejapaneseschool.com. 

 

 

 

Amenities

 

 

Recently completed between South Pine Road and Samford Road is a new Coles and Liquorland with smaller retail stores close by such as Simply Good – a bulk/whole foods self-service store, Genki Mart – a Japanese market, and A Formal Affair dress shop.   Also located around this location are cafes, restaurants and pubs such as Café Vinyet.

There are also some smaller cafes sprinkled throughout the suburban streets of Alderley such as Soul Revolver Co at the corner of Cole and Edith Street and Mistress on Moore on the corner of Moore and Banks Street (on the border of Alderley and Enoggera).

The Alderley Arms provides a sports bar, restaurant and function venue. Also very close by is the Newmarket Village and to the west in Mitchelton the larger Brookside Shopping Centre.

Alderley buyers agents Alderley buyers agent

 

Green Space

 

Alderley has 8 parks covering nearly 30% of the total area. Banks Street Reserve is the biggest green space in Alderley, providing bush walking trails and picnic spots for residents and visitors. 

 

For the list of parks in Alderley you can have a look at the Brisbane City Council’s website here. There are sporting facilities, outdoor exercise equipment, playgrounds and picnic/bbq facilities at most of these parks. One of the biggest parks is Grinstead Park which also has access to the Kedron Brook bikeway

The Newmarket Pool is also just on the border of Alderley.

Alderley buyers agent alderley buyers agents buyers agent alderley

 

 

Employment Hubs

 

Residents living in Alderley mainly work in the CBD, local retail precincts, nearby hospitals, and smaller businesses in the neighbouring suburbs.

The most direct driving route from Alderley to the Airport is 12kms. There is also the convenience of using the train and connecting with the Airtrain.

 

Typical Property Style

 

Alderley typically has a mix of pre-war character homes both in original condition and renovated, post-war weatherboard homes and new modern homes built on lots where the old post war homes have been removed.

 

There are unit blocks mainly alongside the main roads and train line. There are also some smaller townhouse developments.

 

Alderley is a sought after area due to the bigger size blocks, leafy, family friendly streets and access to good schools and sporting facilities.

Buyers agent alderley alderley buyers agent Buyers agent Alderley


Demographics

 

Alderley is an area of wealth with the weekly family income as at September 2020 at $2,793 (Queensland avg. $1,661).  According to SQM research, the percentage of owner-occupiers is at 57.04% and 42.96% for renters.

 

The top 3 life stages for people living in Alderley are:

 

Independent Youth – 21.9% (Couples, Singles and Homesharers under 35); 

Established Couples and Families – 14% (Families, Couples, Extended Families and Single Parents aged 45-54); and

Maturing and Established Independence – 12.8% (Singles and Homesharers aged 35-54).

 

 

Most Desirable Area

 

Buyers agents AlderleyThe most desirable areas in Alderley are close to parks, within walking distance to the shops, train station and to schools.

Elevated, leafy streets with views across the local area and to the mountains are also highly valued. Generally the streets that are tree lined and have 600m2 plus lot sizes are desirable. 

Least Desirable Area

 

The least desirable areas in Alderley are on the main roads and close to the train line. There are minimal areas affected by flooding. Properties close to the parklands and bush do have a bushfire overlay that buyers should be aware of as well.

The map below shows the areas effected by noise.

Alderley buyers agent Morningside buyers agent

 

Median Price Values

 

The median price value for houses in Alderley as at September 2020 is $823,750 with the upper quartile price at $940,000 and the lower quartile price sitting at $704,650. 

The median price value for units is $426,250 with the upper quartile price at $492,000 and the lower quartile price sitting at $318,750.

 

Suburb Growth

 

The capital growth rate for Alderley over the last 5 years to August 2020 has been 14.2% for houses and -4.5% for units.

The rental property vacancy rate according to SQM research at August 2020 was 1.5%

 

 

I hope this information has been helpful on your quest to buy your next property in Alderley.  If you need further help to secure a property in this location we can help, please reach out by booking a discovery call through the link below to your Alderley Buyers Agents.

 

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4 Letters to Look out for in a Real Estate Listing

4 Letters to Look out for in a Real Estate Listing

Purchasing a development site in Brisbane requires a unique set of skills to uncover all layers that must be considered during the site acquisition process for a successful and profitable development project. As Brisbane Buyers Agents we want to help you learn the things to look out for when buying a potential site.

 

Brisbane Buyers Agent

 

Zoning and Overlays

 

Things such as flood overlays, character overlays, land zoning and site dimensions … to name a few … all need to be considered BEFORE entering a contract to purchase a potential development site. This is what you need to look for when conducting due diligence on properties.

 

Brisbane Buyers Agent

 

 

Finding a development site

 

Our Brisbane Buyers Agents team are constantly searching for these opportunities. To capture the full range of sites available we assess a lot of opportunities off market, or pre-market, but we also review properties that do come to market.

In those that are listed on realestate.com.au or domain.com.au, we always look out for these 4 letters …. STCA. When anyone is trolling through real estate listings it so important to BE AWARE of these letters which stand for “Subject To Council Approval.”

In our experience, we have seen many sales agents who suggest, in their listing, that a property that is for sale may have upside development potential.

Some agents may even go as far as suggesting how a property may be developed by indicating that a property can be subdivided or may be converted into units or townhouses. But there’s always a disclaimer on their listing …. STCA. So, you must look out for these letters in a listing when purchasing a development site in Brisbane and tread with caution in relation to properties when they exist.

When an agent suggests a property has development potential, but the listing is tagged “STCA”, what this really means is that there is no guarantee of the development potential for the property and it is really up to you, as the purchaser, to do your own due diligence.

 

Brisbane Buyers AgentAs Brisbane buyers agents we have heard of many instances, where a contract for the purchase of a property has gone unconditional or even settled and only after there is no option to withdraw, the purchaser discovers that there is in fact no development upside. This is usually because there are limitations, or there are constraints impacting the site, that of course were not identified in the real estate listing, but were also not discovered during a comprehensive site due diligence process.

Of course sales agents are never going to tell you the negative aspects of a property in their listing, so it is up to you to do your own due diligence – especially when purchasing a development site in Brisbane.

Help for You

 

Thankfully, local Brisbane Buyers Agents can help you with that process so that you can understand what it is that you are purchasing. We can uncover the true upside potential of a property and evaluate the development limitations that may exist. 

Working with a good Town Planner is also essential with these types of sites. You can learn more about this on the Brisbane Property Podcast – Episode 6. You can listen here. And you can learn more about Steffan Town Planning on their website here.

 

I hope this information has been helpful on your quest to buy your next development site in Brisbane.  If you need further help to secure a site with the necessary due diligence we can help. Please reach out by booking a discovery call through the link below to your Brisbane Buyers Agents.

 

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Brisbane Property Market Update September 2020

Brisbane Property Market Update September 2020

This article will summarize what has been happening in the Brisbane Property Market throughout September 2020.

 

Funnily enough, last month we reported that many of the news and media headlines in relation to property values around Australia were negative.  In such a short period of time, the news has suddenly become a lot more optimistic.  And Brisbane appears to be the city set to benefit most!  Let’s explore what has been happening on the ground, and unpack what the monthly data tells us.

 

Westpac Bank has updated its property forecasts this month, and they are now expecting a serious boom in the coming years, with Brisbane tipped to perform the best.  The bank’s economists expect Brisbane property prices to surge 20% between 2022 and 2023.

 

Westpac predictions for Brisbabe Property Market September 2020

 

It is anticipated that the recovery will be supported by sustained low interest rates, which are likely to be even lower than current levels; ongoing support from regulators; substantially improved affordability; sustained fiscal support from both federal and state governments; and a strengthening economic recovery.

 

The Westpac view is quite optimistic compared to some of the other major lenders in Australia.  Commonwealth Bank and ANZ remain less bullish, despite recent upgrades to their forecasts also.

With banks so inconsistent with their forecasts, what are we supposed to believe?

Again, not all markets will recover in the same way or at the same speed.  Local drivers of supply and demand will determine local performance.

 

Last month, we reported that Brisbane is always very different to Sydney and Melbourne because our properties are more affordable, our income to debt ratio is a lot lower and the amount of our take home income that we spend on our mortgages here in Brisbane is also a lot lower.

 

This gives us an enormous advantage over our Southern East Coast Capitals.  We are already seeing a spike in buyer interest from Interstate, driven by affordability and the desire for a better lifestyle.  The pandemic has caused a shift for a lot of people in the way they want to live, and it seems that South-East Queensland may be set to benefit!

 

Brisbane Property Market Prices

 

According to the latest Hedonic Home Value Index data by Corelogic, dwelling values in Brisbane saw an overall median monthly price rise of a 0.5% over the month of September 2020.  This now makes up for the total decline in dwelling values across Greater Brisbane with the quarterly change at 0%.  As we mentioned over previous months, the dire predictions for large falls in value simply did not occur in Brisbane and many property buyers who have been waiting for bargains to appear, have been disappointed.  In fact prices in some areas throughout Brisbane have continued to climb.  

 

Brisbane Property Market Update September 2020

 

 

 

 

 

 

 

 

 

The data is demonstrating a large divergence between regions where the virus curve has steepened, and where the virus is well contained.  Melbourne is the market that has been impacted most with dwelling values falling a further -0.9% across the month of September followed by Sydney will price falls of -0.3%.  These markets make up approximately 40% of Australia’s housing stock by number and 55% by value so the national reading still shows a fifth straight month of decline with overall values declining -0.1% during September.  This is hardly in line with broader, more pessimistic predictions of much larger falls, but is does highlight that some areas are definitely more impacted than others during this time.

 

In the Brisbane Housing Market, we saw median values for the greater Brisbane region increase 0.4% across the month of September 2020. The current median value for a Brisbane house is now $559,646.

 

Brisbane House Prices September 2020

 

The Unit Market in Brisbane saw a slightly higher median value increase of 0.7% for the month of September 2020. The current median unit price in Brisbane is now $388,505.

 

Brisbane Unit prices September 2020

Brisbane Rental Market Movements

 

The Vacancy Rate in Brisbane as a whole fell again from 2.2% at the end of July to 2.1% at the end of August.   There are many areas in Greater Brisbane where vacancy rates are extremely low.  The table below highlights where vacancy rates across Brisbane sit at the end of August 2020.

 

Region Vacancy Rate August 2020
Beenleigh Corridor 1.0%
Brisbane CBD 7.9%
East Brisbane 2.0%
Inner Brisbane 4.0%
Ipswich 0.9%
Northern Brisbane 1.0%
South East Brisbane 0.8%
Southern Brisbane
2.2%
West Brisbane 1.7%

Source: SQM Research

 

You can see from the table above, that vacancy risk is still high in the inner city region where there is a large number of higher density units.  Rents in the unit market in Brisbane saw price falls -1.6% from March 31 to September 30, a consequence of supply and demand side factors. 

We have seen a huge increase in the supply of investment apartments over the past few years in Brisbane, with a significant number of new apartments being built.  Additionally, many short term rentals (such as air bnb rentals) have recently transitioned to longer term rentals due to restrictions on travel for a number of months due to Covid-19.  Whilst the availability of these rentals has surged (ie: supply) we have also seen a huge decline in the demand for these properties due to a number of factors. 

International and State border closures have weakened apartment demand from short term travellers, as well as international students in Brisbane.  Additionally, industry sectors such as hospitality, the arts and recreational services have been hit the hardest by job losses and reduced working hours.  These types of workers are more likely to rent inner city apartments, which has also negatively impacted on the demand for these properties in Brisbane.

See below the change in rents for Brisbane Units and Houses from March 31 to September 30 2020.

 

Brisbane Property Market Update September 2020

 

What are we seeing on the ground across Brisbane?

 

We continue to see a ramp up in the number of buyers in Brisbane.  With record low interest rates and the recently announced plan to relax lending laws, we expect credit availability will become even more free flowing in the months ahead.  

We believe that the middle ring suburbs in Brisbane are showing the highest level of demand over recent weeks.  We are seeing a combination of first home buyers, investors and families compete for a very small number of properties that become available.

The successful virus containment in Brisbane has meant that the real estate market has continued to operate as usual.

We are seeing high volumes of buyers at open homes every Saturday and even mid-week inspections are busy in many suburb around Brisbane.  Multiple offers are still very common – even with properties not actually listed online.  There is sufficient off-market demand from buyers (many through Buyer’s Agents) to cause some level of competition for off-market transactions also.  

The most recent Herron Todd White Residential Month in Review, it states”

“the news remains upbeat. Agents have said they’re registering solid numbers at open homes and multiple offers on properties isn’t an unusual event. The limited listings that do make it to the web portals aren’t sticking around for long. If this level of demand keeps up (and indications are that it will), then we may well see spring and summer seasons that are more impressive than may have been expected just a few short months back.”

Of course, there will always be properties that are listed for sale, but that don’t sell immediately.  We are seeing some of these properties throughout Brisbane also.  These properties are usually those with some type of compromise, or with vendors who have unrealistic price expectations.  It is very easy for properties like this to become stale listings, at which time many buyers believe there must be something wrong with them if they have not sold quickly.  

Investors are also starting to regain confidence.  Our buyer list is starting to include more investors than home buyers once again.  With a striking return in the housing market sentiment and consumer confidence, investors are starting to position themselves for the potential wave of capital growth that has now been predicted.

 

The months ahead …

 

The outlook for the Brisbane housing market is subject to a combination of headwinds and tailwinds over the next few months.

The headwinds will appear as the fiscal support winds back.  There may be an increase in the number of property owners that need to sell as mortgage repayment holidays end and the benefits of JobKeeper and JobSeeker fade out.  We have not seen any evidence to date of distressed selling in Brisbane, and based on the current level of buyer demand it is likely that any increase in new listings will be rapidly absorbed by the market. 

Of course we will also see low rates of migration to South-East Queensland until the borders open for everyone.  Additionally the labour market outlook looks weak and wages growth is likely to be minimal.  These factors may have some impact on demand in the months ahead.  

In terms of tailwinds, we currently have low mortgage rates (with the potential for rates to fall further), low listing volumes, government incentives and improving consumer sentiment.  According to Corelogic’s Head of Research, Tim Lawless, these factors “seem to be outweighing the negative economic shock brought about by the pandemic.”

With the federal budget being delivered next week, we expect additional announcements to stimulate the economy further.  Anything aimed at supporting jobs and improving consumption will be of benefit.  We look forward to seeing what policies are introduced during the nationwide recovery.

Queensland also goes to the polls in October, and we expect the campaigning from major parties will focus on promises for jobs, and an economic recovery.  Brisbane, and in fact Queensland, will have an interesting few weeks ahead as we discover more about what is proposed and more importantly, how it is going to be funded.

 

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4 Tips on Property Investment Diversification

4 Tips on Property Investment Diversification

Asset diversification is a risk minimisation strategy that is recommended for investors to ride out the ups and downs of different markets. It applies to all asset classes – including property. This article will explain how property investors can diversify their portfolio and why property investment diversification within a property portfolio is an important consideration to adopt for a successful holistic investment strategy.

1. Diversify by Property Investment Strategy

Property is typically regarded as a “growth” asset which has the potential to deliver high returns over long-term investment time frames. Property investors can diversity by Strategy by having a mix of properties that deliver capital growth, cashflow and value add opportunities such as renovation or development potential.

Property Investment DiversificationWhen investors are seeking to build wealth, they tend to have an appetite to build a property portfolio quickly. This requires careful consideration of what strategy might be best to deliver the desired long-term results.

Many residential investors will focus on long-term capital growth as their primary wealth creation strategy. This is a fairly low risk strategy, and for people with good serviceability, it presents as a safe way to build out their asset base during their younger years.

For other investors who may be on lower incomes, cashflow investing can become more important. In the current lending environment, the opportunity to purchase a property that has a neutral or positive cashflow is increasing, which presents opportunities for investors to get into the market even if their serviceability is somewhat limited.

Investors with a higher risk tolerance may also look towards more aggressive equity-building strategies such as renovation or property development to accumulate wealth across a shorter time frame. These strategies typically involve higher risk, but for those who have the capacity and appetite, can also carry greater potential return.

Determining which strategy is right for an individual investor at a particular point in time involves careful consideration of personal circumstances including investment goals, the investment time frame, risk appetite, and lifestyle considerations such as an investor’s income and living expenses.The examples mentioned above give different options for property investment diversification.

2. Diversify by Asset Class

Property has a number of different asset classes including residential, commercial, industrial and retail. Residential property is the asset class which typically comes with the lowest risk, and it is also the most common asset class that property investors turn to when starting out.

As property investors approach retirement, their allocation to different asset classes often becomes more relevant. From a cash flow perspective, residential properties will generally provide a lower rental return than commercial assets. This is due, in part, to the high proportion of costs borne by residential landlords, with owners usually being responsible for ongoing expenses such as maintenance, rates and land tax.

Property investment diversification to improve cashflow often results in investors exploring commercial property as an investment option because typically yields are a lot more attractive. The value of commercial property will largely be based on the income returns they provide to investors.

Property Investment DiversificationThe higher yield of commercial properties, which typically range between 7-9%, is largely due to the fact that commercial investors are able to pass on their rental outgoings as part of their rental rates, with tenants typically responsible for expenses such as land tax, council rates and maintenance.

Property Investors with higher risk appetites often explore investment into commercial, retail and industrial properties. These asset classes do come with the potential for higher vacancy (which is one reason why they are higher risk) but they also have the potential for much higher returns, and therefore careful consideration needs to be given to an individual investor to determine if diversification through asset class is appropriate.

3. Diversity by Geography

Possibly the easiest way for many investors to diversity their property portfolio today is by location. There is not one Australian property market and in fact there are hundreds of smaller property markets all at different stages of the property cycle around our country.

Property Investment DiversificationWhilst they are all driven to a large extent by macro drivers such as access to funding and government policy, it is the micro drivers that really determine how a local property market is going to perform.

The local economy, jobs, population growth, and lifestyle elements all contribute to local demand for housing whilst building approvals and commencements, the availability of land and listing volumes can determine what the local supply is likely to be in the short term and longer term years ahead. When there is an imbalance, there is often price change (either up or down depending on which way the pendulum swings).

Concentration risk can come if an investor’s portfolio is restricted to one location, so often the easiest way to diversify and minimise risk, is by looking at opportunities in different geographical locations.

4. When is the right time to diversity within property?

Although real estate investments are often held for years this doesn’t mean portfolios can’t change. Investors who understand what they want to achieve can reduce property investment portfolio risk and boost returns through diversification at any time by re-balancing their real estate investment portfolio. But getting the investment strategy right up front is often the most cost effect way to build a successful portfolio. Transaction costs are high, which can often be prohibitive to a restructure, but on a case by case basis, often the opportunity cost of holding on to under-performing assets is not worth it.

Summary

Property investment diversification is one of the main ways real estate investors mitigate risk and boost returns in a property investment portfolio. Before diversifying a portfolio, investors should have a clear idea of what their short- and long-term investment goals are as well as their risk appetite and investment time frames. But understanding the different options available for diversifying a property investment portfolio is the first step towards planning and building a portfolio that will minimise the volatility of investment returns and perform well over the longer term.  For those that need help with property investment diversification – get in touch today!

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Corinda Buyers Guide – Read This Before You Buy!

Corinda Buyers Guide – Read This Before You Buy!

Are you looking to purchase a home or investment property in the sought after suburb of Corinda? We as Corinda Buyers Agents have made it easy for you by compiling everything we know into this Corinda Buyers Guide. This Article contains information about everything we know and what is important to know when choosing a place to live or to invest in.

 

Corinda

 

Geography:

 

Corinda is located approximately 14km from the Brisbane CBD towards the southwest. The area is vibrant and green. Corinda is located along the bank of the Brisbane River.  The neighbourhood is hilly & elevated with some streets achieving views of the CBD.  Corinda was first settled in the 1860s as a small farming community. Among the original settlers was the Francis family who in 1862 purchased 21 acres, which extended from the Brisbane River to Francis Lookout, a local heritage listed landmark on Dewar Terrace.

corinda buyers agent

 

corinda buyers agentTransport:

 

The number one most convenient transport option for locals is the Train line for access to the CBD.  This is popular for high school students to get to school especially if they attend Brisbane Boys College or other private schools on the North side of the river.  Many families live south of the river in Chelmer, Graceville, Sherwood & Corinda because of the convenience the public transport provides, and they are still able to achieve large homes on big blocks of land in quieter suburbs. To view the public transport options visit the Translink site HERE.

 

 

Education:

 

The State School options for Corinda include the highly desirable enrollment managed school Corinda State School & Sherwood State School. For high school, Corinda is in the catchment for Corinda State high School.

Most high-income earning families in the area choose to enroll their kids into private schools especially for the high school years.  Some private schools close by include Brisbane Boys College, Brigidine College, St Peters Lutheran College, St Aidans Anglican Girls School & Ambrose Treacy College.  When it comes to education, it is hard for us to tell you what the best school is in the Corinda Buyers Guide and this is because everyone’s preference if different when it comes to education.  Click HERE to search the school catchments on a particular property address. 

 

Amenities:

 

Corinda is a suburb that is yet to be established as its own in terms of providing entertainment amenities, aside from parks, cafes and the golf course.  It is, however, just a short drive or walk to the array of surrounding activities.

Honour Avenue is the destination for a lovely Sunday out with cafes, restaurants and beautiful tree lined streets.  You have easy access to Mount Cootha for a great hike or lunch with a view of Brisbane.  Retail shopping is best done at Indooroopilly Shopping Centre and for a fun family adventure you can visit the Lone Pine Koala Sanctuary on the opposite of the river or head to Seventeen Mile Rocks riverside park which provides green space, large playground and a Waterpark for the kids. 

 

Green Space:

 

There are some great green spaces in and near Corinda.   Nearby you will find the Oxley Golf Complex, Dunlop Park, Ambiwerra Sports Groud & many more smaller parks around the residential areas. 

 

corinda buyers agentEmployment Hubs:

 

Corinda is very centralised in terms of proximity to a number of different employment hubs on the southside.  You can easily get to Ipswich, Annerley/Archerfield/Algester industrial zones and you are 14km from the CBD.  The train service not only extends to the CBD, but also in the other direction to Ipswich.

 

Typical Block Size & Property Type:

 

Corinda typically has a mix of pre and post war homes.  There is a small section of the suburb close to the train line and commercial hub that is zoned for medium density dwellings.  Because there is a mix of the pre and post war homes there is opportunity for those that love to build their dream home to a modern standard and also those that love to renovate and live in a character Queenslander.

Typical block sizes in Corinda are 600sqm or larger, there are also a large number of 800sqm blocks as well.  Most of the 800sqm blocks have character protected homes on them, so buyers need to consider this. As you move closer to the river, the blocks of land start to exceed 1,000sqm in size.

 

Demographics:

 

corinda buyers agentCorinda is an area with a higher than average level of wealth.  The weekly family income is at $2,517 (Qld avg. $1,661).  According to SQM research, the percentage of owner-occupiers is at 68.49% and 31.51% for renters.  What you want to see is a superior percentage of owner occupiers in any particular suburb compared to renters.  This shows the desirability of a suburb for owner occupiers which will help to drive capital growth due to desirability for the suburb over time.

Corinda is on the rise in terms of house prices.  It is the next suburb out from Sherwood.  In Sherwood, Graceville and Chelmer properties are very high in price and Corinda, at this stage is still more affordable.  Because of the affordability, the area is rapidly gentrifying and prices are rising due to the demand.

 

Most Desirable Area:

 

corinda buyers agentCorinda is generally a desirable suburb.  The best pockets are the locations that have high elevation away from flood and other impacts.  The pocket between the train line and the Brisbane River is very elevated with quiet streets and high quality large Queenslander homes on large blocks of land. You may be able to find some of the elevated sites have views to the city.  

 

Least Desirable Area:

 

The least desirable areas in Corinda are the low lying areas that are affected by flooding. As there is a cliff along the Brisbane river side of Corinda, this section is not impacted by flooding due to its elevation.  On the other hand, the creek located on the opposite side of Corinda is low lying and the surrounding properties to the creek are subject to flooding.

Also, properties that are within very close proximity to the train line and main road are less desirable because they have noise impact.  However these are otherwise desirable areas, so if you are looking to get into a good pocket within Corinda, a compromise of being closer to the train line may present property opportunities within a lower budget. 

Corinda Buyers Agent

 

Median Price Values:

 

Median Price values in Corinda are $861,500 with the upper quartile price at $1,027,500 and the lower quartile price sitting at $622,500.

corinda buyers agentSuburb Growth:

 

The capital growth rate for Corinda over the last 5 years has been 26.9%.

I hope the information in this Corinda Buyers Guide has been helpful on your quest to buy your next property in this location. If you need further help from and Corinda Buyers Agent to secure a property in this location we can help!  Please reach out by booking a discovery call through the link below. To read other posts like this Corinda Buyers Guide click HERE.

 

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Property Advice – 5 Sources You Should NOT Rely on

Property Advice – 5 Sources You Should NOT Rely on

As a Qualified Property Investment Advisor, it always amazes me how much information people think they know and understand about property. Yet time and time again when I’m speaking with people, I realize that it is everything that they don’t know that is the biggest problem. The sources that a lot of property investors rely on for information is also a big surprise. Let’s take a look at the 5 most dangerous sources of information that people are relying on today for property advice.

1. Online Forums and Facebook Groups
property adviceWhilst I do sometimes read through information on some of the largest online property related forums and facebook groups, I often cringe with what I read. Every participant has their own opinion and often the opinions of some participants are taken as gospel. When this happens, the Mum and Dad investors are often buying in locations recommended by others, or applying strategies learnt from others that may be completely unsuitable for their own personal investment circumstances.

I speak to a lot of people who are interstate and who are looking to buy in Brisbane. It is a function of my role as a Buyer’s agent. But what truly surprises me is the number of Clients that tell me they would have bought in this suburb, or that suburb, based on what they have read about the area. When I seek further information, I often find out that their information source is online property forums! This is very dangerous, and my advice is to proceed with caution and verify your facts before relying solely on this source of property advice.

2. Family and Friends
Relatives and friends have always got our back … or have they?

It seems that our family and friends are experts in many areas – and especially when it comes to property. Who hasn’t been to a BBQ and talked about the house around the corner which would make a great investment?

The truth is, that unless your family and friends have built a successful property portfolio themselves, how do you know that their property advice is going to be right for you? And even if they have built their own portfolio, are their goals and circumstances the same as yours?

It is wonderful to feel supported by those closest to us, but when it comes to receiving advice around property investments, it might be better left to the professionals in most cases.

3. Real Estate Sales Agents
property adviceWhen searching for properties, I often see listings which describe a property as a “perfect investment opportunity” for the astute buyer. Says who? Sales Agents are there to sell a property on behalf of a vendor, so they are certainly not in a position to determine if a property is going to be a good investment for a buyer.

In fact, it is highly unlikely that a Sales Agent would be asking enough questions to understand what a buyer’s property investment objectives area, what their risk profile may be or what property investment strategy they are utilizing.

Just because a property is well maintained, or low maintenance, does not automatically qualify it as a good investment. There is far more that goes into the selection of a suitable investment opportunity than what a Sales Agent is likely to provide, so avoid falling into the trap of relying on property advice from Sales Agents.

4. Property Marketers
The role of a property marketer is to sell properties on behalf of a developer. Many Property Marketers do provide a lot of information about property investment metrics, so it can quite often be difficult to determine if they are acting in your best interests or not. The best way to determine if you are being “sold” to by a property marketer is that they will most likely not be charging you anything for the property advice.

Now I don’t know if there are many people who actually work for free, and I can guarantee that these people don’t work for free either. They are being paid by the developers and their commissions are built in to the price you pay for the brand new property they will be recommending for you to buy.

Property marketers are often referred to as “property spruikers” because they tend to attract large crowds to attend free “property investment” seminars. Then during the sales presentation they provide all the reasons why the product that they have to offer it the best investment for everyone in the room – without much consideration for their personal circumstances.

Often, the person providing the investment advice is just a sales person working through a script, and is not in fact someone who has a lot of experience in providing property advice. Tread with caution if you are caught in this situation … and never sign up for anything instantly. Take yourself away and use time to your advantage to determine if the strategy they are recommending is in fact the best strategy for your investment needs before diving in.

5. Mortgage Brokers, Accountants and Financial Planners
property adviceMortgage Brokers, Accountants and Financial Planners are all licenced or qualified in their own field of expertise, however most are not qualified to provide property advice or most don’t understand the intricacies of the real estate markets and investment strategies to know how to find properties that are best suited to a Client’s long term goals and risk profile. This is because Property Investment is not considered a “financial service” and therefore it falls outside of the legislation in relation to how it is regulated.

I’ve heard of accountants that recommend their clients purchase property for the tax depreciation benefits. I’ve also heard of some financial planners taking commissions from developers to recommend their excess development stock. It is unfortunate that this happens. Thankfully this does not happen with the majority of operators, and by no means am I implying that it does.

But consumers should always be aware of the recommendations they are receiving, regardless of who is making the recommendation, and seek an alternative opinion if they are not 100% certain that the investment property advice is right for them.

In summary, these are just a few sources of information where property advice can be shared with the every day property investor. But it is very important that you understand if the advice you are receiving is going to be right for you. The world is full of unscrupulous advice and when it comes to property investment in Australia, things are no different. Tread with caution, never make rushed decisions, and seek out professional assistance if you are unsure. Property investment involves a lot of money, so if you really don’t want to make a costly mistake.

 

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Suburbs to Benefit from Brisbane Infrastructure Projects

Suburbs to Benefit from Brisbane Infrastructure Projects

There’s no denying it – Brisbane is booming! There are currently billions of dollars of Major Brisbane Infrastructure Projects either underway or well into the planning stages. These infrastructure projects are not only providing vital employment, now and in the future, but are also changing the face of Brisbane.

Brisbane Infrastructure ProjectsOur city is currently experiencing what has been described by some as a “once in a generation” infrastructure boom. Whilst in the short term there will be disruptions for residents, once these projects are complete they will improve our transportation options, lifestyle options, employment opportunities and tourism offerings.

The Major Brisbane infrastructure projects include the Cross River Rail, Brisbane Metro, Queen’s Wharf, Brisbane Live, Victoria Park, Waterfront Precinct, Herston Quarter, International Cruise Terminal, West Village. There are so many projects which are also discussed on the Brisbane Property Podcast. You can listen here.

Already completed major projects are the new Brisbane airport runway and the redevelopment of Howard Smith Wharves. The new runway officially opened mid-July after 8 years of construction. This $1.1b project aims to bring the most efficient runway system in Australia to Brisbane. Once air travel is back up and running this will enable Brisbane to be the hub to the Asia Pacific.  

Brisbane Infrastructure ProjectsLocated under the Story Bridge Howard Smith Wharves has given Brisbane locals and tourists another picturesque riverside destination for picnics, restaurants, bars and functions.  “Weekends on the lawn” are popular and relaxed family friendly events.

 

Now, let’s have a look at what the current infrastructure projects are and which suburbs in Brisbane are going to benefit from them.

 

Brisbane Infrastructure Projects

 

Cross River Rail

 

“Cross River Rail is a new 10.2 kilometre rail line from Dutton Park to Bowen Hills, which includes 5.9 kilometres of twin tunnels under the Brisbane River and the CBD.”

As our population increases we are experiencing more strain on our public transport system. We need faster access for suburban residents to access major employment hubs including the CBD.   Currently Brisbane only has one river crossing for trains and only 4 stations in the CBD. This creates a bottleneck and impedes the number of trains that can run and cross the city at any one time. 

The Cross River Rail will bring 4 new stations at Albert St, Boggo Rd, Wooloongabba, and Roma St plus upgrades to rail stations that already exist including Exhibition Station in Herston.  You can read more information on these stations here. As well as benefiting Brisbane residents and visitors, the Cross River Rail will shorten travel time to and from the Gold Coast enhancing the connectivity between the tourist and employment hubs. 

Brisbane Infrastructure ProjectsOn Brisbane’s south-side 6 stations will benefit from significant upgrades and therefore the greater communities of these areas. They are:

  • Salisbury
  • Rocklea
  • Moorooka
  • Yeerongpilly
  • Yeronga
  • Fairfield

 

You can keep up to date with current progress on the Cross River Rail Facebook Page.

 

Brisbane Metro

 

The Brisbane Metro was originally proposed to be a high-frequency subway but has now progressed to an electric busway system. The buses will be 24 metres long and split into three carriages. Services in peak hours will be fast with a bus every 3 mins and outside of these hours there will be 5 minute services. This will be a drastic improvement to the current public transport services available.

There will be two different lines for the Brisbane Metro. Line 1 will run from Eight Mile Plains to Roma Street.  Line 2 will run from the Royal Brisbane and Women’s Hospital in Herston to the University of QLD in St Lucia.

There are plans to extend to Chermside and Carindale in the future. All of these suburbs will benefit greatly from the completion of this infrastructure.

Although separate to the state governments’ Cross River Rail project they will share interchanges at Boggo Road and Roma St stations. The Brisbane Metro is expected to start services by the end of 2023. Suburbs that will benefit directly from the metro are below and their neighbouring suburbs will also benefit.

  • Eight Mile PlainsBrisbane Infrastructure Projects
  • Upper Mt Gravatt
  • Mt Gravatt
  • Nathan
  • Holland Park
  • Holland Park West
  • Greenslopes
  • Buranda
  • Wooloongabba
  • West End
  • Southbank
  • Kelvin Grove
  • Red Hill
  • Herston
  • Dutton Park
  • St Lucia

 

 

 

 

 

Brisbane Live

 

In alignment with the Cross River Rail Project and building the new underground station at Roma Street, a new entertainment arena complex will be constructed in place of the old transit centre.

Brisbane Infrastructure Projects

This $2 billion redevelopment will revitalise this part of the city with the arena and retail shops and “unlock under-utilised land in the heart of the city”. The multi-purpose arena complex with proposed 17,000-18,000 seat capacity has been designed in the New York Madison Square Garden style and will allow greater accessibility to big sporting, music and arts events in Brisbane.

There will be retail spaces on the Roma Street side as well as a “Sky Lounge” that can operate as a function area when there are no events taking place.

This project will benefit all Brisbane residents who like to attend events and will no longer have to travel to the Boondall Entertainment Centre north of Brisbane. You can access updates on Brisbane Development’s project page here.

 

Queens Wharf

 

Brisbane Infrastructure ProjectsThe old non-heritage buildings have been demolished and development of the $3.6 billion dollar Queen’s Wharf integrated resort development is underway. Covering more than 26 hectares across land and the river, the development will merge contemporary architecture with restored heritage buildings. There will be four integrated resort towers with luxury hotels, residence apartments, restaurants, cafes, bars, retail shops, a casino and a Sky Deck.  

A new pedestrian bridge – the Neville Bonner Pedestrian Bridge – will be built to link this revitalised area of the city to South Bank. This will be a major drawcard for tourists to come to Brisbane and also provide a new area for all locals to explore and shop.

Watch the fly through video here.

Already redeveloped and opened as part of the Queen’s Wharf project are Mangrove Walk and the first section of the bicentennial bikeway opening up a 500 metre stretch of land underneath the Riverside Expressway.

Maritime work at The Landing has already started in the Brisbane River for the construction of the piled suspended concrete slab that will provide 6,500m2 of new public space. The scheduled completion date for the Queen’s Wharf Development is 2022. You can keep up to date with construction progress on their Facebook page or here.

 

Victoria Park

 

The current 18-hole Victoria Park golf course will be closing in June 2021 to make way for Brisbane’s biggest new park in 50 years. The Victoria Park Vision will create 45 hectares of public parkland space which is more than double the size of the Brisbane City Botanical Gardens. The current putt putt course, driving range and function centre will remain. Plans are yet to be finalised but you can have a look at the visual representation of the draft vision here.

Feedback has been gathered after a 6 month consultation period and final plans will be released at the end of this year.

Brisbane Infrastructure Projects

Victoria Park will become a natural retreat, an urban park for adventure, discovery and reconnection.

A Cultural Hub will celebrate Brisbane’s heritage and natural environment. The park will feature native bushland pockets and waterholes where visitors can enjoy kayaking and swimming lagoons.

Architecture will mimic the landscape with suspended canopy walks and a tree house so visitors can connect with nature, day and night.

This prime inner-city location will include a community garden, giving visitors more to see and do.

It will be culturally authentic, celebrating the many layers of human contact with the landscape and the site’s significance to Aboriginal people.

Waterfront Brisbane

 

Waterfront Brisbane will deliver on quite a few key items from the City Reach Waterfront Master Plan (Brisbane City Council’s plan to revitalise the waterfront from the City Botanic Gardens through to Howard Smith Wharves).

Brisbane Infrastructure Projects

The $2.1billion dollar project will redevlop Eagle Street Pier and open up 7,900m2 of space, increase the size of the current Riverwalk (including extending the width to 6 metres) to a 1.2km waterfront promenade for pedestrians and cyclists.

The old Eagle Street Pier building will be demolished and in its place there will be two new towers which allow better access to the river and its views.  There will be improved linkages from the city to the river for pedestrians and cyclists.

The plan also details space for a proposed public riverside lap pool, relocation of the current city cat terminal and integration with the proposed Kangaroo Point green bridge.

For more details here’s the link to the Brisbane Development website. You can download the full Master Plan here.

Kangaroo Point Pedestrian Bridge 

 

This is another key project to deliver on the City Reach Waterfront Master Plan. The proposed green bridge, connecting City Reach to the Kangaroo Point peninsula, will dramatically improve access to and along the waterfront and fundamentally re-shape City Reach’s profile.

Connecting to the City Botanic Gardens Riverwalk and River Access Hub, this bridge will be for pedestrians and cyclists only. To have a look at the proposed design click here.

Wooloongabba Precinct

 

In alignment with the new station being built at Wooloongabba for the Cross River Rail project,  there is an area set aside for redevelopment above the underground station including the GABBA stadium. The renewal plan can be accessed here.  Below is the video of the concept.

 

International Cruise Terminal

 

The Port Of Brisbane has a brand new international cruise terminal in development worth $177 million. It has been designed to cater for the biggest cruise ships in the world which although aren’t currently running will increase Brisbane and Queensland’s tourism capacity once COVID-19 is under control. For information and videos on construction updates click through to the Port of Brisbane’s website here.

 

Other projects to link in with existing or planned Brisbane infrastructure projects are:

Herston Quarter – in March 2017 the $1.1b redevelopment of the 5 hectare site began. This is located within the Herston Health Precinct and is proposed to be a mixed-use community which will cater for health, residential, commercial and retail development.  For more information click here.

West Village – stage 1 and 2 are already complete of the new West Village. This project is rejuvenating an industrial area in West End bringing more public green space and retail opportunities to the community and restoring heritage buildings. 

Lamington Markets Lutwyche – a large integrated mixed-use transit development is proposed for a vacant site in Lutwyche. The proposal includes a large fresh food market hall, boutique cinema complex, retail stores and residential apartments. You can read more about this and see artists impressions of the Lamington Markets Lutwyche here

Howard Smith wharves ferry terminal –  The Howard Smith Wharves ferry terminal will provide new access for residents and visitors to Howard Smith Wharves and further enhance the existing ferry network. It will also provide connection to the New Farm Riverwalk and surrounding areas as well as proposed to link to North Stradbroke Island.

South Bank Ferry Terminal upgrade – for information click here.

There are many more Brisbane Infrastructure Projects planned for the city. For access to information and updates on these projects go the the Brisbane Development website.

QPAC Arts Theatre upgrade at the Playhouse Green – for details click here.

Brisbane Infrastructure Projects

So as you can see there are billions of dollars worth of Brisbane infrastructure projects either underway or in planning. These projects will have a direct positive impact on the suburbs mentioned above, increasing their livability and their growth potential.

To make an informed decision about choosing the best suburb to invest or buy your home in, you can cross check the suburbs that benefit from these projects against those that are affected by adverse risk factors. Our blog on noise from the runway and flight paths can be read here. You can also read about 9 Due Diligence Checks to take into consideration before buying.

We hope this has helped you understand the suburbs that are going to benefit from the current and planned Brisbane infrastructure projects. Please get in touch if you would like further help with your property search.

 

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Brisbane Market buyers agent in brisbane post header Relocating to Brisbane Blog

 

Keperra Buyers Guide – A Useful Guide Before You Buy

Keperra Buyers Guide – A Useful Guide Before You Buy

Keperra

 

Are you looking to purchase a home or an investment property in Keperra?  How do you determine if this is the right suburb for you?  As your Keperra Buyers Agent we have made it easy for you by compiling information about the suburb that is important to know when considering this suburb for your home or investment purchase.

Keperra buyers agent

 

Geography

 

 

Keperra BrisbaneKeperra is located approximately 9km north-west from the Brisbane CBD.  The area has 17 parks covering nearly 18.2% of total area and is quiet with a friendly vibe. 

The name Keperra comes from a Yuggera words kipper/kippa indicating a young man.

Two bora rings used to be located within the suburb, one near the corner of Samford Road and Keperra Street (now under housing) and one which disappeared with the construction of the Keperra Country Club.

It is thought that the name derives from the initiation ceremonies of young men performed at the bora rings.

 

Kedron Brook provides the northern suburb boundary therefore it meanders along the creek way with a walkway and bikeway.  This Kedron Brook bikeway means that you can ride from Keperra all the way to Nundah with limited road crossings.   The southern section of Keperra is mainly bushland reserve.

There are many post-war houses that are either being renovated or removed and new homes being built in their place by young families.  There are still many older people living in the area in their own homes or in the retirement village on Samford Road.

There are good schools and quite a few diverse parks in the area. The most desirable pockets to buy property are in quiet, streets with close proximity to parks and away from the train line noise.

       

 

Transport

keperra buyers agentKeperra has two train stations – Keperra railway station and Grovely railway station providing easy access along the Ferny Grove and Beenleigh rail lines.

Two bus routes service Keperra.  Route 362 runs between The Gap and Brookside Shopping Centre with stops at Great Western Shopping CentreKeperra railway stationGrovely railway station and Mitchelton railway station.  Route 398 is between Mitchelton railway station and Ferny Grove railway station, with stops within Keperra.

Translink website here.

 

Education

 

There are a couple of early childhood and kindergarten options directly in Keperra:

Of course there are other options in neighbouring suburbs if you can’t get an enrolment at these facilities. You can search for them here

The local state primary schools for Keperra, depending on where you are located in the suburb, are Grovely State School , Ferny Grove State School and Mitchelton State School. If you’re looking for a private primary school there is St Williams Grovely School, and St Andrew’s Catholic School in Ferny Grove.

State High Schools for Keperra are Mitchelton State School and Ferny Grove State High School.

It’s always important to check the catchment for a particular address if you’re focused on your child/children attending a particular school. You can search for the school catchment by address here

Some of the private secondary schools that are in the area are:

How to find the best Brisbane School Catchments

For more school you can search the Good School Guide here.

For more in-depth information about school zones read our blog How to Find the Best School Catchment Zone in Brisbane.

 

 

 

Amenities

 

Keperra Buyers AgentThe main shopping precinct for Keperra is The Great Western Super Centre. As well as Woolworths and Aldi, the centre has a wide variety of retail stores and essentials such as a medical centre, pharmacy, newsagency and petrol stations. Also located here are cafes and restaurants. For a list of amenities here click on the link to the directory. For reviews of some of the cafes have a look at mustdobrisbane.com

There is also a Bunnings Store nearby The Great Western Super Centre.

Arana Leagues Club is on Dawson Parade with a restaurant, sporting events and a takeaway menu. Click here for their website.

 

Keperra buyers agent

Keperra Country Golf Club was established in 1931 and provides three golf courses with a total of 27 holes and variety of difficulty. There is also a restaurant and function room that caters for conferences and parties such as weddings.You can find more information and pricing on their website here

 

Other amenities include a couple of different Tyre and Auto Services – Bridgestone and Bob Jane T-Mart and other smaller retail stores. Very close by is Brookside Shopping Centre for larger stores and also The Gap Village. 

 

Green Space

Most notably in Keperra is the 150 hectare Keperra Bush Reserve. There are walking tracks including a paved track to the summit which is approximately 2.5km return, with a scenic lookout at the top. keperra buyers agent

The reserve supports remnant, native vegetation and significant habitat for numerous native species, including koalas.

 

 

 

keperra suburb profile

Keperra parks include Duggan Street Park which includes the Keperra Dog Park, Heiner Park with an excellent playground and flat grounds to play cricket or run and fly a kite.

The Ferny Grove Aqua Park at the Keperra Picnic Grounds is very popular with families in warmer weather. Parking can be a bit tricky so keep this in mind if you have to drive to get there.

For a full list of Keperra Parks and their amenities click on the link to the Brisbane City Council website here

Part of the green space in Keperra is also the golf club as detailed above in Amenities.

Just over the hill in The Gap, you have access to Walkabout Creek Discovery Centre and the Enoggera Reservoir which has a walking track, swimming and kayak/paddle-board hire available.

 

 

 

Employment Hubs

 

Locals living in Keperra either work in the local retail areas and schools, commute to the CBD or to various employment hubs in neighbouring suburbs. 

The most direct driving route from Keperra to the Airport is 17.4kms. There is also the convenience of using the train and connecting with the Airtrain.

 

Typical Property Style

 

Keperra typically has post-war weatherboard homes on larger blocks in the older part of the suburb (around the Grovely and Keperra train stations). In the newer residential areas there are brick homes built in the 70s, 80s and 90s.

keperra buyers agent keperra buyers agent keperra buyers agents

Due to its affordability Keperra is increasingly popular for young professionals and families due to its proximity to parks, other suburban hubs and the CBD.  There are no properties with a traditional character overlay.  Therefore, there are many houses being renovated or removed, with larger blocks being split into two blocks, and new modern houses being built.  Gentrification is ripe in this suburb.

There is also an approved development application for the Keperra Quarry site to be transformed from an eyesore into a mixed residential and recreational area.  Below is a link to a video detailing the area and artistic impressions of the proposed development.

 


Demographics

 

Keperra is an area of increasing wealth with the weekly family income as at September 2020 at $2,051 (Queensland avg. $1,661).  According to SQM research, the percentage of owner-occupiers is at 73.69% and 26.31% for renters.

 

The top 3 life stages for people living in Keperra are:

 

Older couples and families – 17.2% (Families, Couples, Extended Families and Single Parents aged 55-64); 

Established Couples and Families – 15.7% (Families, Couples, Extended Families and Single Parents aged 45-54); and

Elderly Singles – 14.3% (Singles and Homesharers 65 and over).

 

Most Desirable Area

 

The most desirable areas in Keperra are in quiet streets with views to the mountains and close to a park. It is also sought after to be in walking distance to the train station but far enough away not to be impacted by the railway noise. 

keperra buyers agents keperra suburb profile

 

Least Desirable Area

 

The least desirable areas in Keperra are on the main roads and next to the train line due to the noise. The map below shows the areas effected by road and train noise.

Keperra buyers agent Morningside buyers agent

 

 

Due to the proximity to the bush there are also many areas that are at risk of bushfire. There can also be flooding from Kedron Brook.

Keperra buyers agent

 

 

 

Median Price Values

 

The median price value for houses in Keperra as at September 2020 is $560,000 with the upper quartile price at $611,250 and the lower quartile price sitting at $520,000. 

The median price value for units is $453,750 with the upper quartile price at $482,250 and the lower quartile price sitting at $433,750.

 

Suburb Growth

 

The capital growth rate for Keperra over the last 5 years to September 2020 has been 24.9% for houses and 4.3% for units.

The rental property vacancy rate according to SQM research at August 2020 was 1.1%

You can ask questions of local residents on the Keperra Community Facebook Group.

 

I hope this information has been helpful on your quest to buy your next property in Keperra.  If you need further help to secure a property in this location we can help, please reach out by booking a discovery call through the link below to your Keperra Buyers Agents.

 

Would you like to understand more about working with a Buyers Agent in Brisbane?

 

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7 Steps to The Buying Process – The Basics

7 Steps to The Buying Process – The Basics

Buying a property can be overwhelming. 

Let’s face the facts … most of us only ever buy a very small number of properties in a lifetime. 

But for us, it is our profession, so to help property buyers, we have compiled the following 7-steps to outline the process so you can have more confidence when buying a property.

 

1. Step 1 of the Buying Process – Get Finance Ready

 

We wanted to start this article at the very beginning – right when you first make the commitment to invest in your future and purchase your very own property.  

When you first decide that buying a property is your next step, there are a number of things you will need to do to get on the front foot.

First, get out and about and do solid research into the current market and property values. This will assist in making realistic goals for you next property purchase. The market will change when the time to actually buy comes, so monitor the market right up until you are ready to put in offers. This will keep you educated so you don’t frequently miss out on properties that appeal to you.

The Buying Process

Look for a mortgage broker that you trust so you can discuss your property goals with them. You may need to meet a few mortgage brokers until you find the right one for you.  Some will be more focused on finding you the lowest interest rate.  Others will create a longer term finance strategy.  This will depend on you as an individual and what you are hoping to achieve in the future.   All mortgage brokers will have their ideal clients so it is best to ask which type of property buyer that they specialise in. 

You may find a mortgage broker that caters to the first home buyers’ market which may be great if you are feeling nervous about the process and need a bit of support.  However if you are looking for a mortgage broker who has experience with investment strategies then that may work better for you if you are looking to invest.  We always recommend talking to your mortgage broker about your long term plans, because even if you are buying a home, if you have plans to upgrade in the future, then some mortgage strategies might be better suited than others if the first property is to be retained and converted into an investment.

Make sure you are on board and comfortable with the broker you have selected.

The Mortgage Broker will be able to put a plan in place and will be able to help you with the following:

  • How much you can afford to borrow
  • Give you education on current interest rates
  • Educate you on the different set finance options and loan products (principal & Interest vs. Interest only, fixed & variable rates, offset and redraw facilities)
  • If there is a particular budget you have in mind they can let you know if that is achievable
  • Educate you on all fees involved when purchasing a property
  • Set a plan in place so you have a clear idea of what you can afford to buy

Mortgage brokers are also free for consumers to use. They get paid by the lenders they place the home loan with so you are not up for any costing with going with a broker.

Once you have your goals in place as well as a plan on how to achieve them you can move to the hardest step in the entire process…

You may find that your bank may do a bundle package to provide an attractive rate so it is important to look into all of your options and work out which one will work the best for you.

 

2. Step 2 of the Buying Process – Saving the Deposit

 

Saving the deposit for your property purchase can feel like the longest journey so it’s important to stay focused during this process.   It is very easy to lose sight of what you want to achieve when the end goal seems so big.

Our top tips for saving the deposit are below:

  1. The Buying ProcessRevise your budget to see how much can be saved each month and each pay date, ensuring you break down the savings goals into smaller more manageable goals helps keep you motivated and on track.
  2. Now is the time to stop any unused memberships and look at ways you can reduce your spending. This may be gym memberships you don’t use or cutting down take away from three times per week to once per week. The important thing to remember here is not to go overboard, restricting your spending too much may end up being more harm than good, you still need to enjoy yourself during this process but make a conscious effort to manage your money a lot closer.
  3. Pay yourself first. On each pay day it is important to revise your budget and move the amount you have allocated straight to a savings account, this way you don’t accidentally reach into that amount with your everyday spending, out of sight, out of mind. Treat your savings account like a bill that is due each month.
  4. Have a designated saving account for your property purchase. This is important and there are a lot of options on how to do this so look into what would work best for you.  Term Deposits can prevent you from spending money due to limits on withdrawals.  Be disciplined and avoid potential spending sprees.  

By following the above steps you will be well on your way to your first property purchase.

 

3. Step 3 of the Buying Process – Pre-Approval stage

 

Once you have your deposit saved you are ready to put things into action.  The hardest part is complete and now it’s time for the next step in the buying process.

What is a pre-approval you may ask?

A pre-approval is an “in principal” commitment from the bank that you can borrow up to a certain amount of money for the purchase of a property.  Banks will assess your financial details and credit history to ensure that you are a suitable candidate for a mortgage.  Having a pre-approval in place gives you confidence when entering the searching phase.  This is because you will know what your top budget is and you can confidently know where you stand when negotiating with agents.

Re-engage with your chosen mortgage broker at this stage.  They will be able to assist you in this process and run you through the steps of getting that pre approval in place.  The pre-approval phase is a valuable step in getting you closer to your new purchase.

Pre- approval is not formal approval so be careful when putting in your offer as you still may need a finance clause in the contract of sale in order to for banks to make a final assessment on your application.  Your mortgage broker will be able to assist in how long the finance clause may need to be in place.

 

4. Step 4 of the Buying Process – The search begins

 

The Buying ProcessThis is where the fun really begins. There is a lot of decision making during this phase so it can often feel quite stressful during this part of the process. 

We have compiled three tips to remember when searching for a property to buy:

  1. If it is meant to be… it will be.  There may be instances where you may miss out because another buyer was willing to pay more than you, especially when the demand for property is high and there is a lot of competition.  If you miss out simply, move on as your ideal property is still waiting for you.  It is ok to feel disheartened … but do not let it consume you!
  2. Going to multiple open homes every weekend can become overwhelming and exhausting. You may be feeling very excited for the first few weekends, however if the right property is not presenting itself, then this can get exhausting very quickly.

We recommend completing comprehensive research before inspecting. Do you like the area? Does it have the right floorplan for your needs & is the property still available?

Just because it is listed online, it should be available…right?

You would be surprised how many agents still show homes that are under contract or sold off market.  This is the agent working for the seller in case the contract doesn’t work out, but it is also wasting your time so give the agent a call and ask them as many questions are you can.

  1. Take photos and a measuring tape. In high demand markets there is not usually a second… or third opportunity to inspect and take measurements, or you may have forgotten what some parts of the house or site look like.

After you have walked through and made an assessment if you really like it then take another walk through to take pictures or videos of every corner of every room & measure the important spaces (eg. fridge space, washing machine space, bedrooms and living areas) to ensure your furniture fits.

If you are overwhelmed by this searching process or want to know about off market opportunities, then looking into how a buyer’s agent can help may be of benefit to you.

 

5. The Buying Process – Making an offer

 

The Buying ProcessMaking an offer on a property is serious business. 

There is so much to consider in such a short space of time and this process can become overwhelming, especially when the competition is high.

You need to understand how much to pay and how to present your offer to the seller or their agent.  We have written an in depth Article on the Contract Process in Queensland that you can find HERE.

If you are fortunate enough to purchase property using cash, then your offer will be strong.  However most people do have to go through the banks and obtain a loan to purchase a property.  This means that there needs to be some conditions on the contract before the offer is made.

The items you need to consider when putting forward an offer are:

  • Initial and balance deposit amounts
  • Offer amount
  • Finance clause and how long to satisfy
  • Building and pest inspections and time frames
  • Settlement date
  • Any other special terms that are needed (due diligence, rent back, body corporate searches etc)

You may think that the highest bidder always wins … and this is likely is most cases, but not always.  There are many instances where the highest offer has not been the accepted contract due to other offers having better terms in place.

Our best tip to you is to talk to the agent and figure out what is really important to the seller when it comes to selling their property.  Once you have this information, you can use it to make your offer more appealing to the seller.  For example, this may be a longer settlement because the seller has not yet found their next home and therefore needs more time to relocate.

Sometimes the agent may pre-populate the information for you on a contract to help guide your offer.  However it is important to note that you can change these particulars to suit you or the seller more favourably.

Everything is negotiable …. 

 

6. The Buying Process – Conditional and Unconditional Stage

 

Once you submit your offer and it is accepted, if the offer is subject to any conditions then you enter the conditional stage in the Buying Process.  This is where you would organise a building and pest inspector and work with your mortgage broker and bank to satisfy any finance clause included in the contract.  You will need to engage a solicitor that is based in the state you have purchased to communicate with the sellers solicitors and handle the conveyancing process.

It is very important for you to get a building and pest inspector to provide a report if the contract is conditional to a building and pest inspection.  They will look into all the sections of a property that you cannot physically see from a standard property inspection and provide a report of their findings.  You want to know that the property has no hidden defects or maintenance concerns, as there are huge costs associated with buying a property and mistakes can be costly.

If you do find something that you may need to fix, you can try and negotiate the cost of repair off the purchase price or get the seller to rectify it prior to settlement.  It may be something structural that could put you out thousands of dollars without actually adding any value to the asset, so uncovering these issues at this time is critical.  You also may have the option to withdraw from the contract if the results of the building and pest inspection are not to your satisfaction.  These are all options available to you under a building and pest clause.

Once you have completed your inspections, obtained your final finance approval and satisfied any other conditions in the contract, your contract will become unconditional.  This is time to celebrate!  At this time the solicitors will prepare for the settlement to take place on a specific date.

 

7. The Buying Process – Settlement

 

The Buying ProcessThis is the final stage of the buying process and one to be heavily celebrated!  All that hard work has now paid off. Settlement day is when the seller will receive the payment of the agreed contract price and the buyer will legally take ownership of the property.

This is where key collection takes place, that picture in front of the sold sign can be taken and the moving in process begins.

 

I hope the seven steps have brought some ease to the buying process journey. If you need help with finding and securing your property please reach out at Streamline Property Buyers.

 

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