Toowong Alex Jordan & Frazer Watson Market Report
Alex Jordan 0410 424 749
Frazer Watson 0422 422 936
2018 – Number 1 agent for Brisbane – Alex Jordan* 2017 – Number 1 agent for Brisbane – Alex Jordan* For the second year running, we are honoured to be recognised for our achievements. A big thank you to our loyal clients, it is with your support that we are able to continue this journey. *Source: Brisbanehomeprices.com.
mcgrath.com.au
Local Market Review
13/44 Benson Street, Toowong Sold $2m
Most local residents are familiar with the benefits of living in Toowong. Toowong is surrounded by beautiful trees, parks, is close to the Brisbane River and within the catchment of some of Queensland’s best schools. Toowong offers a list of express city transport options including bus, train and ferry services making it an attractive investment and lifestyle precinct. Excellent schools such as Brisbane Boys College, St Peters Lutheran College and The Queensland Academy for Science, Mathematics and Technology are having a positive impact on property prices in the suburb. The high quality of educational facilities is a key driver for buyer demand in the Toowong market place. Toowong’s current median house price is sitting around $880,000, up 5.4% in 2018. The total number of sales in 2018 for Toowong houses was just 57, down from 91 that were sold in the previous year which is a 38% drop in the total number of house sales. History suggests that the blue-chip nature of Toowong is unlikely to see any significant decline in property value. The uptrend in equities, job growth and retail spending has contributed to the improvement in consumer confidence that’s supporting property price growth. Whilst interest rates remain at historic lows (RBA cash rate 1.5% and most banks’ lending at under 4%), the strength in Brisbane’s prestige market is likely to continue as more buyers from Sydney and Melbourne recognise the lifestyle benefits and relative affordability of living in Brisbane. Our team has had the pleasure of representing some of Toowong’s finest homes. We’re honoured to have the opportunity to serve our valued clients and assist them in achieving their property goals.
Top 40 Sales in Toowong 2018 (Houses) No
Address
Bed Bath Car
Sale date
Land size (m2)
Price ($)
1
147 Sherwood Road
4
3
0
20-Jun-18
4500
$5.3m
2
28 Woodstock Road
6
3
2
20-Jun-18
4500
$5.3m
3
372 Birdwood Terrace
4
4
2
2-Feb-18
1300
$2.41m
4
96 Camp Street
4
3
3
23-Oct-18
718
$2.15m
5
4 Orchard Street
5
3
2
19-Jul-18
405
$1.78m
6
115 Elizabeth Street
5
4
2
20-Apr-18
701
$1.715m
7
56 Elizabeth Street
4
2
2
19-May-18
811
$1.425m
8
28 Mount Street
3
1
1
9-Jun-18
810
$1.33m
9
19 Siemon Street
3
2
2
15-Sep-18
810
$1.325m
10
37 Kapunda Street
5
2
2
17-Mar-18
602
$1.267m
11
116 Duke Street
4
3
2
13-Oct-18
774
$1.21m
12
12 Dacre Street
5
4
2
20-Aug-18
405
$1.2m
13
95 Gower Street
4
2
1
3-Sep-18
822
$1.2m
14
30 St Osyth Street
3
3
2
8-Mar-18
549
$1.2m
15
35 Thorpe Street
3
3
3
17-Mar-18
617
$1.2m
16
33 St Osyth Street
4
1
3
21-Dec-18
721
$1.12m
17
10 Annerley Street
3
2
1
21-Jan-18
443
$1.07m
18
83 Miskin Street
4
2
2
25-Jan-18
556
$980k
19
120 Duke Street
3
2
3
1-Aug-18
774
$960k
20
33 Croydon Street
3
1
2
21-Mar-18
809
$930k
21
18 Dacre Street
3
2
2
17-Jan-18
405
$915k Source: Price Finder
Top 40 Sales in Toowong 2018 (Houses) No
Address
Bed Bath Car
Sale date
Land size (m2)
Price ($)
22
28 Emerson Street
3
2
2
28-Nov-18
885
$915k
23
10 Okeden Street
3
2
2
3-Apr-18
279
$897k
24
36 Mount Street
4
2
1
24-Apr-18
810
$895k
25
51 Quinn Street
3
1
1
13-Oct-18
551
$890k
26
55 Fewings Street
3
2
2
1-Feb-18
405
$885k
27
12 Elizabeth Street
3
3
1
7-Jul-18
322
$880k
28
35 Elizabeth Street
3
1
1
7-Aug-18
480
$867k
29
77 Bent Street
4
2
2
1-Nov-18
810
$855k
30
45 Fewings Street
2
1
0
5-Nov-18
405
$830k
31
44 Woodstock Road
3
1
1
10-Mar-18
498
$825k
32
61 Aston Street
3
1
1
5-Feb-18
665
$820k
33
6 Eton Street
3
2
2
24-Feb-18
405
$820k
34
42 Dovercourt Road
3
1
1
11-Jun-18
630
$814k
35
18 Victoria Crescent
3
2
1
7-Apr-18
405
$795k
36
12 Dempster Street
3
1
1
21-Mar-18
511
$779k
37
163 Birdwood Terrace
3
2
1
2-Nov-18
687
$770k
38
71 Bywong Street
4
2
4
27-Aug-18
774
$760k
39
9 Darley Street
3
1
1
14-Aug-18
607
$760k
40
44 Kapunda Street
3
1
1
26-Oct-18
602
$760k
41
37 Horrocks Street
3
2
1
5-Jun-18
333
$752k
42
63 Frederick Street
3
1
2
5-Feb-18
810
$750k Source: Price Finder
Surrounding Suburbs Growth Chart (Houses)
$1,300,000
$1,200,000
$1,100,000
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
2006
2007
2008
Indooroopilly
2009
2010
2011
St Lucia
2012
2013
2014
Toowong
2015
2016
2017
2018
Taringa
Source: pricefinder.com.au
Number of House Sales above $1M 80
70
60
53 50
44 40
30
20
20
21
Toowong
Taringa
10
0 Indooroopilly
St Lucia
Surrounding Suburbs Median House Prices Year
Indooroopilly
St Lucia
Taringa
Toowong
2018
$870,000
$1,150,000
$881,000
$880,000
2017
$887,000
$1,183,500
$965,000
$835,000
2016
$850,000
$1,105,000
$950,000
$790,000
2015
$830,000
$1,100,000
$852,500
$755,000
2014
$762,500
$1,045,000
$809,000
$767,000
2013
$720,000
$896,500
$748,000
$685,000
2012
$725,000
$900,000
$729,500
$640,000
2011
$738,500
$964,500
$680,000
$670,000
2010
$715,000
$1,090,000
$761,000
$710,000
2009
$650,000
$880,000
$701,000
$627,500
2008
$675,000
$868,000
$745,500
$720,000
2007
$655,000
$870,000
$670,000
$640,000
2006
$575,000
$665,000
$605,500
$487,000 Source: Price Finder
Why McGrath
824 95
Sales people
Offices connected throughout our network
$12.7 billion 699k
Website visits
China Desk 404k 89.5k 33.2k
Total value of properties sold in FY18
Servicing Mandarin speaking clients
Approximate buyers in our database
Followers on social media
Properties managed
November 2018
Toowong Statistics 2018 (Houses)
$2.41m $880k 57 48
Median house price
Number of houses sold
Average days on the market
5.4% $527 3
Highest sale
Annual growth for 2018
Average house rental price
years of positive median growth
Source: Mars CRM
Toowong Growth
$1.4m
$880k
$755k
$790k
$767k
80 sales
sales
sales
sales
72
99 sales
sales
91
100 sales
sales
sales
sales
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
$640k
$670k
$625k
$685k
60
$710k
126
$722k
$800k
$637k
Median sale price
$1m
$835k
$1.2m
$600k $400k $200k
sales
sales
82
68
85
91
57
$0
House sale price segmentation (past 12 months)
13 11
12 9 5 2
2
2
0 $500 $600k
1 0
$600 $700k
$700 $800k
$800 $900k
$900 $1m
$1 $1.2m
$1.2 $1.5m
$1.5 $2m
$2 $2.5m
$2.5 $3m
$3m +
Source: Price Finder
4 Orchard Street, Toowong Sold $1.78m
Client Testimonial “We recently worked with Alex and Frazer on the successful sale of our home in Toowong. We were really happy with their level of professionalism and dedication to selling our property. We were previously engaged with another agent and although our house had been on the market for over 6 months both Alex and Frazer were up for the challenge to assist us in the sale of the property. Although they traditionally hadn’t sold too many properties in Toowong their knowledge of the area was great and we think their experience in dealing in some higher end sales really assisted in the marketing of our property. They were also very respectful and kept us updated and informed during the marketing and negotiation stages and came through with a great sale result for our property. We would definitely recommend both Alex and Frazer and look forward to partnering with them in the future” Michael & Natasha
5 Bed 3 Bath 2 Car Sale price
$1.78m
Buyer origin
Local
Sale method
Private treaty
Land size
405sqm
Why Alex and Frazer
24 years
Real estate industry experience
$87.515m 59 31
Number of properties sold in FY18
Our average days on the market
$1.595m 12 5 5
Total value of properties sold in 2018
Our average sale price
Off market sales
Highly experienced McGrath team members
Suburb Records – Taringa, Fig Tree Pocket, Bardon, Toowong, Chapel Hill
Source: Mars CRM
Home Ownership & Family Composition Home Ownership
Family Composition
• Rented 53.5% • Purchasing 22.9% • Fully owned 21.5% • Not stated 1.6% • Other 0.5%
• Couple with no children • Couples • Singe parent • Other
49.7% 34.4% 9.6% 6.3%
Source: Price Finder
Client Testimonial “Choosing an agent to sell our home wasn’t as easy as we first thought, that was until we sat down with Alex. Our first meeting was open and honest. Alex made us feel comfortable and went through the pros and cons of us keeping our property as an investment verses selling and worked out all the figures in front of us to prove it all. It was thoroughly refreshing to have someone who was not only a professional in his field but also someone who put us first, even if it meant he didn’t get to sell our home. The entire process from listing to being sold was exceptionally smooth. Alex and his team took care of absolutely everything, even providing gorgeous flowers for each open home. Overall, I wouldn’t hesitate to have Alex sell all our future properties.” Simon & Natalie
8/8 Wool Street, Toowong Sold $750k
2 Holmes Street, Toowong Sold $1.46m
Client Testimonial “My husband, Tim, and I have had the most unexpectedly wonderful real estate experience with Alex Jordan of McGrath, Paddington. We were planning to list our property soon when a letter arrived in the mail box from Alex and his colleague, Frazer. Naturally we were wary of any real estate dealings as there can be many traps for the young player, not that we are any longer so young! However, Alex appeared to be a very ethical and knowledgeable person. We were very impressed by the wide range of considerations with which he engaged in our lengthy discussions. He could immediately assimilate our wishes and apprehensions, giving us all the information we needed at all stages and allayed our misgivings about doing business regarding a development site. At no stage were we disappointed or inclined to change our first impressions of Alex. What you see is what you get. Some friends thought we were somewhat naive to sing the praises of our real estate agent …. and the very sensible and ethical developer to whom Alex introduced us. Alex proved to be very sensitive, perceptive and compassionate as well being totally honest and punctual in all of his dealings with us over more than 3 months. Our deal is now complete, the money is in the bank! We feel so privileged to have had such a skilled professional to
negotiate for us and achieve a price with which we, our neighbours, family and friends are all very impressed. It all went so smoothly, beyond our expectations. We would have no hesitation in recommending anyone to trust Alex to handle their real estate matters. It was certainly an impressive experience for us. Thank you, McGrath, Paddington for your wise choice of representative.” Shirley Fraser and Tim Harlock
Sales and Growth since 1994 Year
No. of Sales
Median
Growth
Low
High
1994
122
$188,500
3.6%
$15,000
$900,000
1995
92
$185,000
-1.9%
$16,000
$2,200,000
1996
116
$188,050
1.6%
$10,000
$955,000
1997
128
$210,500
11.9%
$98,000
$1,200,000
1998
142
$204,500
-2.9%
$46,875
$1,230,000
1999
149
$243,000
18.8%
$5,850
$810,000
2000
104
$256,500
5.6%
$5,000
$1,390,000
2001
150
$290,000
13.1%
$110,000
$1,100,000
2002
171
$375,000
29.3%
$26,000
$1,390,000
2003
131
$417,250
11.3%
$200,000
$1,010,000
2004
95
$470,000
12.6%
$310,000
$1,800,000
2005
95
$464,000
-1.3%
$270,000
$5,625,000
2006
110
$487,000
5.0%
$270,000
$1,980,000
2007
126
$637,500
30.9%
$326,250
$2,400,000
2008
60
$722,500
13.3%
$355,000
$1,850,000
2009
80
$627,500
-13.1%
$415,000
$2,625,000
2010
82
$710,000
13.1%
$430,000
$2,200,000
2011
68
$670,000
-5.6%
$390,000
$2,875,000
2012
72
$640,000
-4.5%
$420,000
$2,000,000
2013
99
$685,000
7.0%
$295,000
$3,800,000
2014
91
$767,000
12.0%
$415,000
$2,720,000
2015
100
$755,000
-1.6%
$450,000
$3,250,000
2016
85
$790,000
4.6%
$555,000
$3,036,000
2017
91
$835,000
5.7%
$465,000
$2,500,000
2018
57
$880,000
5.4%
$625,000
$2,410,000
48 Morley Street, Toowong Sold $1.675m
Client Testimonial “I have bought and sold homes in Brisbane, Sydney and Cairns over the last 35 years and Alex is by a clear margin the best of the best agents we have dealt with. He is the ultimate professional in his role. He makes sure he understands what your expectations are, speaks in plain language, doesn’t embellish, sets out clearly what is required, gives great advice and ensures that the plan is followed to the best conclusion. The only surprise we had in the whole process was the result of selling our home in a short space of time at a price that we were extremely happy with. The other factor which contributed to the smooth sales process was the teamwork that Alex employs with his fellow McGrath Paddington agents and staff and network of specialists.” Rob Brown
$872k Taringa
Indooroopilly
$860k
$880k Toowong
$950k
$1.15m Hawthorne
Fig Tree Pocket
$1.15m Paddington
$1.175m St Lucia
$1.3m Hamilton
Bulimba
New Farm
Ascot
Teneriffe
$1.4m
$1.56m
$1.6m
$1.825m
Brisbane’s Most Expensive Suburbs
Source: Price Finder
Upcoming Subdivisions and Developments in Toowong Application Type
Address
Submitted
A001606938
Student Accommodation
33 Glen Road Toowong
10/08/2018
A004990844
Demolition
15 Orchard Street, Toowong
8/08/2018
A004968219
Demolition
20 Morley Street, Toowong
11/07/2018
A004919062
Partial Demolition
147 Frederick Street, Toowong
10/05/2018
A004898625
Multiple Dwelling
4 Terrace Street, Toowong
12/04/2018
A004889369
Subdivision
120 Sylvan Road, Toowong
28/03/2018
A004883560
Multiple Dwelling
525A Coronation Drive, Toowong
20/03/2018
A004877975
Multiple Dwelling
2 Holmes Street, Toowong
14/03/2018
A004867668
Multiple Dwelling
132 Sherwood Road, Toowong
27/02/2018
A004853308
Subdivision
34 Wool Street, Toowong
9/02/2018
A Selection of our Sales
39 Ellerslie Crescent, Taringa Sold $6.65m
630 Jesmond Road, Fig Tree Pocket Sold $4.65m
98-100 Goldieslie Rd, Indooroopilly Sold $4.385m
39-45 Florrie Street, Lutwche Sold $1.78m
105 Outlook Crescent, Bardon Sold $4.2m
71 Tristania Road, Chapel Hill Sold $3.9m
684 Jesmond Rd, Fig Tree Pocket Sold
7/58 Tristania Drive, Bardon Sold $3.485m
10/680 Jesmond Rd, Fig Tree Pocket Sold $3.31m
8 Martin Lane, Indooroopilly Sold $3.25m
32 Ivy Street, Indooroopilly Sold $3.25m
41 Glencairn Avenue, Indooroopilly Sold $3.21m
57 Castile Street, Indooroopilly Sold $3.2m
10 Bougainvillea Avenue, Indooroopilly Sold $3m
40 Plunkett Street, Paddington Sold $2.62m
87 Duke Street, Toowong Sold $1.23m
Client Testimonial “Frazer and Alex secured a buyer for our house in a way that was easy and successful for us as the seller. They gave advice and clarity to the sales process. Including small details such as organizing beautiful photography, open homes, and quick responses to enquiries. Frazer was always adaptable, helpful and considerate throughout the selling process. Both Frazer and Alex were keen to obtain the best possible market price for the house, and used their knowledge and skills to do this. Thank you both for all your time and effort.� Sara and David Hensley
5 Bed 3 Bath 2 Car Sale price
$1.23m
Buyer origin
Perth
Sale method
Private Treaty
No. of ontracts issued
2
Client Testimonials “We recently worked with Alex and Frazer on the successful sale of our home in Toowong. We were really happy with their level of professionalism and dedication to selling our property. We were previously engaged with another agent and although our house had been on the market for over 6 months both Alex and Frazer were up for the challenge to assist us in the sale of the property. Although they traditionally hadn’t sold too many properties in Toowong their knowledge of the area was great and I think their experience in dealing in some higher end sales really assisted in the marketing of our property. They were also very respectful and kept us updated and informed during the marketing and negotiation stages and came through with a great sale result for our property. I would definitely recommend both Alex and Frazer and look forward to partnering with them in the future.”
“...Alex was always polite and extremely informative. He was a good man to have on our side. We wouldrecommend him to anyone.” Eric & Alexis De Leacy
“’Second to None’, I have been a commercial/property lawyer for just over 25 years. I have practiced in 4 jurisdictions. In my time I have dealt with hundreds of real estate agents. Alex Jordan is the best I have come across - by a country mile. He is the consummate professional, honest, pro-active, and can be totally relied on to act in your best interests. Alex not only helped us sell our house in record time, but was invaluable in helping us purchase 2 other properties. I will not use another agent again.” John Palermo
Michael & Natasha
“It is my pleasure to write about the experience that we had selling a property with the help of Alex Jordan and Frazer Watson. Prior to his first call I had no knowledge of Alex. He contacted me to discuss the potential to sell our property. Alex came to the first meeting incredibly well prepared to discuss options. He had valued the property and had already sort potential buyers in a price range that was acceptable to us. Over the next few weeks Alex was able to put together a very efficient process based on a professional relationship with both the purchaser and seller that resulted in an excellent outcome. Alex is an experienced, professional and very well organised individual who knows well the business he is in. His attention to detail minimises frustration and allows all parties to the negotiation to concentrate on what is important. These attributes lend a confidence, intelligence and mutual respect to the process on both sides that lends itself to a successful conclusion. We are very grateful for the exceptionally knowledgeable professionalism that Alex demonstrated to achieve the best possible outcome for us. It is a cliché but it truly was a pleasure to do business with Alex. We would highly recommend him to you.” Donna Kent
“We recently sold our Indooroopilly home and Alex Jordan and Frazer Watson of McGrath were our agents. We have never met agents with their knowledge of the market, especially at the higher end. They had all the statistics and knew how to negotiate on our behalf with expertise and realistic confidence...”
“I couldn’t speak more highly of Alex Jordan as both a very professional sales person or as a person. Alex, as a sales person is highly motivated, approachable, diligent and has, unlike a lot of sales people that I have dealt with in the past, the ability to sell. As a person, Alex is organised, thoroughly honest and reliable. I would have no hesitation in recommending Alex Jordan to anyone contemplating the selling of their property.” John Mullan
“We recently engaged Alex Jordan and McGrath for the sale of our home in Ashgrove. We initially came across Alex during our search for our new home and he stood out from the crowd in terms of his integrity, honesty and his genuine interest in wanting to help us find a new home that would meet our future needs. When he first came to do an appraisal on our property, we were impressed with the research he had done on our local market and his insights into how we could maximise our return on our investment. Throughout the sale process itself, we found Alex to be exceptionally professional, diligent and hardworking in terms of how he approached the campaign, how he managed the communication with us at every step of the way and how he engaged with prospective buyers. We felt confident and comfortable to have Alex representing us and our home. In the end we were very happy not just with the price he achieved for us but also the process itself. Selling a family home can be a stressful and emotional process – it is for sure a big life event. To have someone working with you who understands this and can be there to support and guide you through the process every step of the way is critical. Alex was that guy and more for us.” Jeremy Wright
ALEX JORDAN 0410 424 749 alexjordan@mcgrath.com.au Alex Jordan - McGrath Estate Agents alexjordan.mcgrath FRAZER WATSON 0422 422 936 frazerwatson@mcgrath.com.au Frazer Watson - McGrath Estate Agents frazerwatson1