St Lucia Apartments Market Report Elliott Dean
Circa 1965 Photo taken outside Forgan Smith building at the University of Queensland St Lucia.
Q2 2010
FAST FIGURES RECENT SALES ELLIOTT’S CORNER
Photograph: Fryer Library, University of Queensland Library, University of Queensland Photograph Collection, UQFL466, AC_P_120
Hello and Welcome! Your quarterly St Lucia Apartments update with:
Elliott Dean
St Lucia Growth Trends
St Lucia Growth Trends > www.pdslive.com.au
All data sourced from Property Data Solutions 2010
Fast Figures – Apartments and Townhouses How many apartments have been sold in St Lucia so far this year?
36
How many apartments are for sale in St Lucia today?
51
What is the highest apartment sales price in St Lucia over the last quarter?
$1,030,000
What is the lowest apartment sales price in St Lucia over the last quarter?
$370,000
What is the median apartment sales price in St Lucia over the last quarter?
$495,000
What is the street(s) with the most sales in the past three months?
Sandford Street (2)
20 Most recent Apartment sales in St Lucia Street
Sale Date
Summary
74 Dengate Lane
17/06/2010
1 1 1
$439,000
53 Sandford Street
15/06/2010
2 1 1
$499,000
121 Sir Fred Schonell Drive
10/06/2010
2 2 1
$442,000
82 Sandford Street
04/06/2010
3 2 2
$1,030,000
76 Durham Street
28/05/2010
2 2 1
$495,000
164 Macquarie Street
04/05/2010
2 2 2
$750,000
82 Sandford Street
01/05/2010
2 2 2
$612,500
30 Depper Street
29/04/2010
3 2 2
$630,000
1 Austral Street
27/04/2010
3 2 3
$850,000
61 Douglas Street
19/04/2010
2 2 1
$586,000
182 Carmody Road
14/04/2010
2
2 1
$440,000
82 Depper Street
07/04/2010
2 1 1
$370,000
44 Bishop Street
29/03/2010
3 3 3
$672,500
9 Durham Street
11/03/2010
2 2 1
$380,000
164 Macquarie Street
09/03/2010
2 2 2
$677,000
72 Armadale Street
08/03/2010
3 2 2
$700,000
52 Sisley Street
01/03/2010
3 1 1
$493,000
28 Dengate Lane
24/02/2010
3 2 2
$516,000
All data sourced from Property Data Solutions, realestate.com.au Department of Natural Resources, RE/MAX Property Centre (RPC). N.B There can be a lag time of three months or more as Department of Natural Resources reports sales.
Sale Price
Elliott’s Corner Hot Question: When is the best time of year to move? This is likely the question I get asked most frequently by St Lucia apartment owners (and its a good one). Often it is coupled with – ”Wouldn’t I be better off selling at beginning of semester when more people are looking? In my opinion, there is no peak ‘season’ to sell in St Lucia. Each year is different. If you look at the graph on the right of apartment sales numbers over the last 36 months you will note that the peak months in each year were different in each of the years. Some believe that Spring is the ideal time with flowers blooming, birds chirping etc, however, whilst we often see more stock on the market at that time it is rarely matched by a corresponding increase in sales numbers. www.pdslive.com.au
And the University end semester theory? Again, I can understand the thinking but the numbers do not bear it out as a reliable trend. In truth, the majority of parents who buy to accommodate their children at UQ are buying months (if not years) in advance. They are not being rushed in to a decision over a weekend or two just before the start of the academic year. Many buy well in advance as a solid investment knowing it could well turn out that their children could take up residence if and when they get to UQ. The reality is that the marketplace is influenced much more by things like ‘confidence’ than by which ‘month’ it is. I am of the view that the media plays a huge role and all the actual sensationalist ‘talk’ in the media of interest rates, oversupply/undersupply, world economy, GFC etc etc is far more unsettling than the actual issues themselves. So when is the best time to sell a St Lucia property? I believe if you can afford to retain quality St Lucia property in your portfolio then that is the very best option. Keep it there. However, for those who do need to sell to capitalise on other opportunities any time is a good time if you select a good agent with proven strategies and processes to deliver you a superb result. Far too many sellers do not grasp that their choice of agent will have a significant impact on the price they achieve (until it’s too late!) Best Regards, Next Report October 2010
Elliott