BRISBANE CITY 4000 EDITION
2018 Market Report Brisbane City 4000 Rhys Cockram
A word from Rhys Brisbane remains in the spotlight of property enthusiasts, young professionals and economists nationwide. With 2018 seeing the Banking Royal Commission making it harder to borrow money, we´ve witness unfavourable market corrections in Sydney and Melbourne, yet Brisbane saw growth in the same period. With Sydney property values moving -8% over the last 12 months, and Melbourne values moving -5.8%, Greater Brisbane has shown its strength, recording +0.3% growth. With these numbers being reported, it´s no wonder interstate migration into south east Queensland has seen 24,000 new people calling the Sunshine State home in 2018. Excitingly, Brisbane is set to experience an infrastructure boom, which will create jobs, increase tourism and drive property prices as these projects near completion from 2021.
With a soft rental market, low interest rates and a well-documented over-supply that peaked in 2016, we’re seeing more young professionals and first home buyers get into the market to take full advantage of the city lifestyle. There has still been no sign of slowing down in the luxury market, with a handful of CBD sales exceeding $4m, one of which transacted through our team in November. It´s great to see that Sydney-siders continue to make the move north bringing with them healthy budgets and an appreciation for the great lifestyle on offer. With the McGrath network spanning 94 offices all genuinely working together, as well as being #1 in Sydney, our team is best positioned to introduce Sydney buyers to the right properties in the higher end of the market.
Brisbane City statistics
$4,500,000 480 83
Highest sale price
Number of properties sold
Average days on the market
$500/wk 351
Average rental price
Properties for rent
Correct as at 19/12/2018
A Selection of Our Recent Sales
4602/71 Eagle Street, Brisbane City Sold
3601/79 Albert Street, Brisbane City Sold
108/540 Queen Street, Brisbane City Sold
149/35 Howard Street, Brisbane City Sold
4704/71 Eagle Street, Brisbane City Sold
4103/71 Eagle Street, Brisbane City Sold
Client Testimonials “After listing my unit for sale with another agency and being disappointed with the lack of results, I enlisted Rhys. With his industry knowledge and people skills, he was able to obtain a higher sale price than I’d originally expected! I highly recommend Rhys!” Kim W.
“When Rhys approached us about marketing our property, we realized he had a committed approach to the seller. Rhys clearly explained a plan that would get us maximum exposure and how he would assist in the selling process. Rhys was able to execute the marketing process exactly to plan. Rhys brought lots of enthusiasm, has always kept us informed and handled everything in a very professional manner. We would highly recommend Rhys to anyone who is selling a property.” Don & Nickey W.
“Rhys is a no-nonsense agent who provides you with the space to explore a property, with the expertise to answer your questions when you need him. We’d highly recommend Rhys if you are looking to sell or buy a property. He is always available (even at 9pm on a Sunday night), communicates fantastically and is extremely knowledgeable of the area. If you’re looking for this level of service, he’s your man.” Tim & Remy B.
“Rhys is a fantastic agent to deal with. Always answered any questions with a great attitude. We would use him again with no worries in the world, great guy.” Ben & Christy F.
Recent sales in Brisbane City $1.5m+ No
Address
Bed Bath Car
Date
Price
1
ABIAN #3501
-
-
-
DEC 2018
$4.5m
2
PARKLANDS #5006
3
3
2
4 DEC 2018
$1.505m
3
RIPARIAN PLAZA #4602
4
3
6
23 NOV 2018
$4m
4
RIPARIAN PLAZA #4704
2
2
2
5 SEP 2018
$1.725m
5
ADMIRALTY TOWERS #150
3
2
2
30 JUL 2018
$1.65m
6
ABIAN #1702
3
2
2
27 JUL 2018
$1.8m
7
MACROSSAN RESIDENCES #403
4
3
2
21 JUL 2018
$1.705m
8
RIPARIAN PLAZA #4103
1
1
3
12 JUL 2018
$2.625m
9
ABIAN #3203
3
2
2
27 JUN 2018
$2.3m
10
ABIAN #2703
3
2
2
19 JUN 2018
$2.5m
11
SKYLINE #432
4
4
5
30 MAY 2018
$2.725m
12
ABIAN #3302
3
2
2
29 MAY 2018
$2.6m
13
ABIAN #4102
4
3
4
11 APR 2018
$4.15m
14
THE HUDSON #10
4
3
3
6 APR 2018
$2.1m
15
ABIAN #1002
3
2
2
17 MAR 2018
$1.65m
16
ADMIRALTY QUAYS #165
4
3
2
1 MAR 2018
$2.305m
17
ABIAN #1505
3
2
2
29 JAN 2018
$1.55m
18
ABIAN #3002
4
3
3
16 JAN 2018
$2.608m
19
ABIAN #702
3
2
2
10 JAN 2018
$1.575m
20
ABIAN #1604
3
2
2
3 JAN 2018
$1.542m
CORELOGIC RP DATA, REA
Case studies 4 Beds 3 Baths 6 Cars Sale Price
$4m
No. of inspections
27
No. of contract issued
7
Buyer origin
Sydney
4602/71 Eagle Street, Brisbane City Sold 5 Beds 4 Baths 3 Cars Sale Price
$1.972m
No. of inspections
51
No. of contract issued
8
Buyer origin
Brisbane
108/540 Queen Street, Brisbane City Sold 4 Beds 3 Baths 2 Cars Vendor’s price expectation
$1.85m
Days on market
1
No. of inspections
1
No. of contract issued
1
Buyer origin
Brisbane
149/35 Howard Street, Brisbane City Sold 2 Beds 2 Baths 1 Cars
3601/79 Albert Street, Brisbane City Sold
Sale Method
For Sale
Sale Price
$620k
Days on market
21
No. of inspections
12
No. of contract issued
4
Buyer origin
India
Recently sold
2102/289 Grey Street, South Brisbane Sold
Community news Some key infrastructure projects for Brisbane Inner City include: - Queens Wharf $3b - Cross River Rail $5.4b - Brisbane Live (Planned) $2b - Dexus Waterfront Precinct (Planned) $1.4b - Howard Smith Wharves $100m - Brisbane Quarter $1b - Brisbane Metro Station $944m - Brisbane Airport Redevelopment $3.8b - Redevelopment of Fortitude Valley State School into new high rise secondary school With over $18b in private and government funded infrastructure either under construction or planned for the Inner City in the immediate future, we can expect to see Brisbane gain strong local and international interest as these projects near completion.
Rhys Cockram 0409 064 639 07 3638 1408 rhyscockram@mcgrath.com.au