Agent Market Report - Rhys Cockram

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