What's Sold! Quarter 3, 2014

What’s Sold!

Station Street, Nerang, 1933

Quarterly Market Report

Nerang & Surrounding Suburbs

Nerang

55960055 | nfn.com.au

Earle Plaza, Cnr Price & White Sts., Nerang

Welcome...

to your Quarterly Market Report.

We hope you find our second edition of the Quarterly Market report to be an interesting tool to help you keep in tune with local market trends and values.

In this issue...

Whether you’re planning to sell, buy a home or an investment property, timing and market conditions are important factors to consider.

What’s Sold Quarterly Sales Stats 2 Price Movements Sold Pictorials

3 4 - 10

For sellers, house values have finally recovered from the post GFC slump, having returned to their previous 2010 peaks. Interestingly, the volumes of property for sale across the market are significantly lower than normal market conditions, so with the current strong buyer demand, time on market has reduced noticeably over the previous 2 quarters.

This makes it an ideal time for sellers planning to upgrade or downsize to make a move now that values have recovered.

Delaying such plans until values increase further really achieves little as the purchase price for the next property will have also increased.

For anyone planning to buy at the moment, timing couldn’t be better as far as interest rates are concerned, with the reserve bank holding rates at an all-time low for 15 months in a row as at the time of writing this article. With affordable values and the ability to fix low interest rates, conditions are optimal for buying or selling.

Selling Tips

Check out our tips on how to present your home for sale 11

Investment Tips

15

Win

Check out our tips on how to present your home for sale

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1

In summary, the best way to describe the local market is that it’s a steady stable and healthy market at the moment, certainly not a boom period and is not likely to be for some time, which is probably a good thing from an affordability viewpoint.

If you’re considering selling, we’d be delighted to offer you an obligation free market appraisal along with our suggestions for presentation that will help you to secure a premium price. Even if you’re not planning to sell until well into the future, we’d be happy to give you our assessment now and later updates as the market changes. This can also be handy to know so that you can make sure your home insurance cover is adequate.

With over 23 years serving the local community, First National Nerang is the longest established agency in the region with a team sharing more than 90 years of combined sales experience with the company, so you can be well assured of reliable accurate advice, sound local knowledge and professional expertise.

Mike Gray Principal

Nerang Quarterly Sales Statistics 1 July - 30 September, 2014

Local Area and 4211 Postcode

HOUSE Sales Residential Homes on lots under 2000m2 Nerang

Highland Park

Carrara West

Worongary Gilston

50

21

21

11

4

Median Price

$386,000

$437,500

$455,000

$395,000

$472,500

Lowest

$255,000

$344,000

$343,500

$334,000

$427,500

Highest

$621,500

$620,000

$556,000

$620,000

$630,000

Sales

UNIT Sales Townhouses/Units/Apartments Nerang

Highland Park

Carrara West

Worongary Gilston

29

8

16

0

0

Median Price

$244,000

$255,000

$256,000

0

0

Lowest

$195,000

$188,000

$285,000

0

0

Highest

$353,000

$289,000

$316,000

0

0

Sales

OTHER Sales 4211 postcode Acreage HOUSES Lots over 2000m2

Vacant Vacant ACREAGE RES. LAND Lots over 2000m2

Lots under 2000m2

12

1

1

Median Price

$685,000

$320,000

$244,500

Lowest

$330,000

$320,000

$244,500

Highest

$1,100,000

$320,000

$244,500

Sales

108 Houses Sold

53 Units Sold

12 Acreage Homes Sold 1 Acreage Lots Sold 1 Residential Lots Sold

This information is sourced from www.pricefinder.com.au, RP Data and the records of First National Nerang. Sales dollar amounts are rounded within $500 and whilst every effort is made to provide accurate figures they cannot be guaranteed and should be deemed as indicative. Parties should rely on their own enquiries and First National Nerang will not be held liable for errors herein.

2

SALES Volumes and PRICE Movement Charts - past 10 years HOUSES

UNITS

3

1

$344,000

2

405m2

4/22 BALOO CRES

4

2

$340,000

2

167m2

5/22 BALOO CRES

4

2

2

Price Not Disclosed

165m2

30 BALOO CRES

4

1

$595,000

3

2,688m2

132 BEAUDESERT-NERANG RD 1 1 3

$360,000

777m2

9 BELTANA WAY

3

1

$360,000 26 BENT ST

4

1

$415,000

3

405m2

Nerang: Houses

Nerang: Houses

2 ACERO CRT

4

7/11 EDEN CRT

4

2

$435,000

2

371m2

6/11 EDEN CT

3

2

$385,000

2

288m2

60 EUREKA CRES

4

2

$435,000

2

848m2

2 GUM LEAF CT

3

2

$345,000

1

333m2

15 HOBAN CT

4

2

$416,250

1

869m2

4 HYDE CRT

3

1

$390,000

2

891m2

13 INVERNESS CT

3

2

936m2

2

$387,000

3

519m2

15 BUSHMEAD ST

25 KOOLA DR

$370,000

$340,000

3

1

2

809m2

33 CITRUS DR

3

1

$360,000

2

675m2

2 COLRENE CT

4

2

$450,000

4

790m2

23 COLRENE DR

4

2

$430,000

2

802m2

114 DUGANDAN ST

3

1

$345,000

1

600m2

1,025m2

9 MAROONG CRES

4

2

$455,000

2

1,252m2

53 MARTIN ST

3

1

$255,000

2

604m2

79 MCLAREN RD

4

2

$440,000

4

619m2

5 MEDELLIN PL

3

1

$359,000

2

470m2

2

$384,000

2

470m2

6 MOOYUMBIN CT

4

2

$495,000

2

860m2

20 MORTENSEN RD

3

1

$347,000

1

885m2

45 MORTENSEN RD

3

1

$329,000

1

680m2

2 ODOWD CT

3

1

$380,000

1

415m2

69 OAKDALE AVE

4

2

$386,000

2

483m2

36 ONSLOW ST

5

2

$395,000

3

600m2

24 PADAUK DR

4

2

$469,000

2

835m2

30 PADAUK DR

5

3

$483,000

2

809m2

13 PALADIN CRT

4

2

$382,000

1

845m2

6 PATRICIA CT

4

2

$480,000

2

909m2

4 POPLAR PL

3

1

$343,000

1

420m2

Nerang: Houses

Nerang: Houses

11 MIRO PL

5

14 RIVERLEA WATERS DR 2 4

3

$477,500

50 RIVERLEA WATERS DR 3 3

4

$621,500

95 RIVERPARK DR

3

2

$377,000

2

600m2

15 RIVERVIEW RD

3

1

$350,000

2

549m2

5 SEATON CRT

3

1

$372,500

2

671m2

18 TEASDALE DR

3

2

$419,500

-

857m2

22 THE MORES

5

2

$425,000

2

870m2

12 THE ZENITH

3

1

$343,900

2

716m2

22 TIRRING ST

4

3

$538,500

2

1,021m2

61 WARRENER ST

2

1

$315,000

2

546m2

4 WEDGETAIL LANE

3

2

$360,000

2

403m2

14 WINCHESTER DR

4

2

$400,000

2

1,158m2

2

$551,000

2

1,409m2

27 YOOLANTIE CRES

4

2

$436,000

2

1,012m2

A massive thanks to First National Nerang for the purchase of our first home!

Professional, informative and helpful 10/10

2 ABERDEEN CT

5

2

$437,500

2

866m2

185 ALEXANDER DR

3

2

$395,000

2

749m2

2

972m2

1 ARDROSSAN PL

5

3

$440,000

2

1,156m2

98 EXPLORERS WAY

4

2

$550,000

2

1,008m2

3 GLENGARRY CL

4

2

$380,000

2

676m2

2

$380,000

2

$424,000

795m2

46 RENFREW DR

5

2

$590,000

2

1.400m2

12 MERCURE PL

5

3

$620,000

2

605m2

5 MEREWETHER CT

3

1

$344,000

2

1,016m2

2 MORAY CT

3

2

$462,500

4

783m2

17 ORLANDO CRT

3

1

2

Price Not Disclosed

2

$435,000

797m2

1

713m2

7 PAULINE PL

3

2

$365,000

2

864m2

22 RENFREW DR

5

2

$552,500

5

1,510m2

44 RENFREW DR

4

3

$577,500

6

1

727m2

22 KILMARNOCK CL

3

4

2

2,226m2

31 TARA VISTA BVD

11 ISSELL PL

3

2

$435,000

4

1

Price Not Disclosed

5 MACDUFF CT

3

42 ORLANDO CT

6 ANGUS CRT 3

Highland Park: Houses

Nerang: Houses Highland Park: Houses

33 YARRIMBAH DR

4

1

711m2

3

$550,000

2

823m2

7 TOUKLEY CT 3

1

$370,000

4

773m2

3

2

1,164m2

$556,000

13 ANCONA ST

3

1

1

837m2

$343,500

12 AVONBURY CRT

3

2

$415,000

2

753m2

16 AVONBURY CT

5

2

$500,000

2

773m2

2 BALTIMORE CT

4

2

$540,000

2

739m2

2

$500,000

2

$415,000

1,133m2

2

600m2

9 GREENBANK CRCT

4

2

$475,000

2

600m2

11 GREENBANK CCT

4

3

$550,000

2

840m2

6 JERROB CT

3

1

$455,000

2

1,024m2

6 LARK CRT

4

2

$540,000

2

909m2

8 MERCATOR CT

3

2

$382,000

1

2

$480,000

2

830m2

46 PADDINGTON DR

3

2

$430,000

2

551m2

28 PAUL CT

3

1

$355,000

1

695m2

20 PLATEAU CRES

5

2

$435,000

2

757m2

80 PLATEAU CRES

4

2

$490,000 4

2

6 GREENBANK CCT

3

22 MICHELMORE RD

3

2

786m2

96 PLATEAU CRES

5 GARNET CT

5

Carrara West: Houses

Carrara West: Houses

121 ALISON RD

4

627m2

2

$440,000

1

783m2

2 REMOUNT PL

3

1

$367,000

1

660m2

18 TARA TCE

4

3

$510,000

2

562m2

2 TIVOLI CRT

3

1

$415,000

2

716m2

2

$395,000

759m2

39 BARRINE DR

3

2

2

$408,000

750m2

6 BORMAN CRT

3

1

1

$410,000

Gilston: Houses

2

67 EXPLORERS WAY

3

1

1

$373,000

2

$410,000 1

$334,000

3

$620,000

2

785m2

4

748m2

2

750m2

15 NABARLEK DR

5

2

$420,000

2

1,221m2

17 NABARLEK DR

4

2

$360,000

4

3

2

1

1,476m2

2

$472,500

852m2

5 KAMBALDA CT

5

2

638m2

2

645m2

3

1,033m2

2

805m2

18 SILVEREYE CCT

351 HINKLER DR

4

2

$536,000

2

6 GLENN CRT

3

600m2

22 MOONDANI DR

4

4

700m2

4 GILES GR

3

2

14 SILVEREYE CRCT

2

$360,000

2

$451,050

$630,000

780m2

2

8 KOEL DR

4

4

68 EXPLORERS WAY

3

2

$467,500

12 SILVEREYE CCT

1

$367,000

21 KEITH RUDD DR

4

$427,500

677m2

Nerang: Units

Worongary: Houses

14 BARRINE DR

3

2

833m2

15/41 BELTANA WAY

3

2

1

$285,000 23/1 BOULTON DR

3

2

$353,000

2

22/4 BUSHMEAD ST

3

1

$244,000

1

320/64 GILSTON RD

3

2

$285,000

1

2/64 GILSTON RD

3

2

$260,000

1

Please note: Some sold property photos and descriptions may not appear on these pages.

2

$265,000

1

4/82 LAWRENCE DR

2

1

$237,000

1

18/86 LAWRENCE DR

2

1

$212,500

1

1/6 COLERIDGE CT

2

1

$307,000

2

1/5 ODOWD CT

3

1

$310,000

1

Nerang: Units

Nerang: Units

328/64 GILSTON RD

3

87/32 RIVERVIEW RD

3

2

$255,000

1

10/36 WEEDONS RD 2

1

$250,000

1

34/36 WEEDONS RD

2

1

$255,000

1

9/11- 13 MARTIN ST

2

1

$195,000

1

17/52 TO 54 MARTIN ST 2

1

$212,000

1

6/125 PAPPAS WAY

7/8 MYLOR ST

2

3

1

$214,500

1

43/125 PAPPAS WAY

2

1

$217,500

1

55/125 PAPPAS WAY

2

1

$215,000

1

1/8 RIMU PL

3

2

1

Price Not Disclosed

2/81 RIVERPARK DR

4

2

$350,000

1

2/32 RIVERVIEW RD

3

1

$260,000

1

73/32 RIVERVIEW RD

3

2

$251,900

1

1

$200,000 8/8 MYLOR ST

3

1

$240,500

2

5 DAHLIA COURT 67 NERANG ST

3

1

$218,000

1

1 FERN COU 67 NERANG ST

3

1

$212,500

1

5/67 NERANG ST

3

1

$218,000

1

2/84 NERANG CONNECTION RD

2

1

$210,000

1

We couldn’t be happier with you as an agent and we would (and will) go out of our way to recommend your agency to anyone who will listen.

1

$188,000

1

10/5 BALFOUR CRES

2

1

0

Price Not Disclosed

1/7 WIRTH TCE

2

1

$289,000

1

2/11 WIRTH TCE

2

1

$278,000

1

52/6- 20 BEN LOMOND DR 1 2

3

$260,000

13/11 BALFOUR CRES

2

1

$222,500

1

5/1B MCLEOD ST

2

1

$220,000

1

6/8 KILPATRICK CT

2

1

Carrara West: Units

$255,000

1

22/1A ALISON RD

3

2

$285,000

2

26/1A ALISON RD

3

2

$273,000

1

27/1A ALISON RD

2

1

$249,000

1

10

2

$316,000

51/1A ALISON RD

3

2

$285,000

2

1

31/28 TO 30 ANCONA ST 1 1

3

$246,000

70/28 ANCONA ST

3

2

$283,000

1

82/1 COELIA CRT

3

2

$310,000

1

36/38 -40 MUREV WAY 3

1

$240,000

1

41/42 MUREV WAY

3

1

$227,500

2

52/42 TO 46 MUREV WAY 2

2

$227,500

1

5/53 TO 55 PADDINGTON DR 2 1

3

$295,000

11/2 PAPPAS WAY

3

1

$265,000

2

43/125 PAPPAS WAY

2

1

$217,500

1

55/125 PAPPAS WAY

2

1

$215,000

41/1A ALISON RD

3

Carrara West: Units

Highland Park: Units

12/5 BALFOUR CRES

2

1

2/5 STORMBIRD PL

3

2

$315,000

1

Southeast Queensland market leads the way Sales activity across Queensland over the June quarter was up across all property types, according to the Real Estate Institute of Queensland (REIQ).

The REIQ Queensland Market Monitor for the June Quarter 2014 reveals increases in preliminary sales for house, units and townhouses. Vacant land sales were up an impressive 37 per cent.

REIQ Acting CEO Antonia Mercorella said while the state’s total house sales were up across all price points, the upper end of the market continued to perform strongest.

“Sales in the million dollar plus price point were up 28 per cent across Queensland, with an increase of 20 per cent in the $500,000-plus range,” she said.

“Million dollar sales in the unit market also strengthened, with preliminary sales numbers across Queensland up around 10 per cent.”

Ms Mercorella said the increase in sales activity was predominantly recorded in the southeastern corner of the state.

“The Brisbane Local Government Area led the charge with an increase of 19 per cent, closely followed by Logan, which was up 18 per cent,” she said.

“Brisbane’s unusually robust winter sales look set to be replicated in a number of real estate markets

11

throughout the State amid increasing demand, sales volumes and prices.

“The strongest performing sectors of the Brisbane house market were at opposite ends of the spectrum, with increases in the sub-$350,000 and $1 million price brackets helping the city to its fifth consecutive quarter of growth.

“On the Gold and Sunshine Coasts, sales activity remained relatively stable over the quarter amid rebounding confidence in both markets. The Gold Coast median house price rose three per cent to $515,000 over the June quarter, with median prices on the Sunshine Coast up 0.2 per cent to $468,000.

“The Gold Coast’s prestige acreage market also had a strong June quarter, while the new smaller council area of Noosa recorded very strong growth, with house sales up 22 per cent.”

Ms Mercorella said some of Queensland’s key regional real estate markets were also experiencing solid growth.

“Toowoomba continues to perform strongly, with sales activity up five per cent for the June quarter on the back of a thriving local economy and strong buyer activity,” she said.

“Sales in Queensland’s other two major tourism centres - the Fraser Coast and Cairns - also fared well in the June quarter, with house sales up seven per cent and four per cent respectively.”

Brisbane unit and townhouse sales are also rising strongly, with a steady pipeline of townhouse developments contributing to a 20 per cent rise in sales in the June quarter.

“The Gold Coast saw a strong increase in unit and townhouse sales, which rose 10 per cent in the June quarter,” Ms Mercorella said.

“The Sunshine Coast unit and townhouse market is also on an upward spiral, with sales up 39 per cent in the last 12 months. Noosa posted strong growth, with unit and townhouse sales up 31 per cent.”

Vacancy rates still remain tight in many parts of Queensland, Ms Mercorella said.

“The vacancy rate for the Brisbane Statistical Division eased to 2.3 per cent at the end of June, compared to 1.9 per cent at the end of March,” she said. “Median rents from the RTA continue to soften in Gladstone, Rockhampton and Mackay.

“Toowoomba’s rental market at the end of June recorded a vacancy rate of 1.5 per cent, up marginally from the end of March. The Gold Coast recorded a drop in its vacancy rate, down 0.5 percentage points to 1.7 per cent, while the new Sunshine Coast regional council area consisting of the Caloundra and Maroochy regions sitting on a very tight 1.1 per cent.

Whether You’re Selling, Buying or Investing... it’s one of

the most important financial decisions you will make. Talk to First National Nerang, because real estate agents are NOT all the same... two times

REIA Australian Agency of the Year four times

REIQ Queensland Agency of the Year four times

REIQ Gold Coast Agency of the Year

Choose an agent you can trust

12

Nerang

Trusted by the community, Honoured by the industry

Property Management Guru’s Experience is everything! With more than 23 years of managing investment properties, First National Nerang have more than mastered the art of delivering superior service and maximum returns for our clients • Stringent tenant selection • Effective marketing - more tenants to choose from • Lower vacancy periods • Regular routine property inspections and written reports to clients • Strict arrears control • Speedy maintenance handling • Regular rent reviews - for maximum returns

Call us for an obligation free assessment of your property’s potential rent return.

Your investment is our priority.

07 5596 0055 | www.nfn.com.au

Buying an Investment Property - Our Top 10 Tips Buying an investment property continues to be one of Australia’s favourite ways to invest.

An investment property should be about increasing your wealth and securing your financial future.

1. Choose the right property at the right price Unlike buying shares where the value of a company is transparent, real estate is more difficult to price. Do your research, and you’ll know a bargain when you see it.

It is also important that your property suits the demographics of renters in the area.

For example, if it is near a university more bedrooms will be in greater demand than a big backyard for kids to run around.

2. Do your sums - Cash Flow is always king!

Investing in property is a proven path to long-term wealth, however you should consider it a medium to longer term type of investment, so you’ll want to make sure that you can afford to maintain your mortgage repayments over the long term.

3. Find a good property manager A property manager’s job is to keep things in order for you. They can help with ongoing advice and help you get the best possible value from your property. They’ll also take care of any maintenance issues, help find the right tenant and make sure they pay their rent on time. The good news is that the cost is tax deductible.

4. Understand the market where you are buying.

Consider what other properties are available in the immediate area and speak to as many locals and real estate agents as you can. Make sure you do the leg work and consult professionals you can trust.

5. Pick the mortgage to suit you.

There are many options when it comes to financing your investment property, so get sound advice in this area as it can make a big difference to your financial well-being.

Interest on an investment property loan is generally tax deductible, but some

borrowing costs are not immediately deductible and knowing the difference can count.

6. Use the equity from another property.

Leveraging equity in your home or another property investment, can be an effective way to buy an investment property. It can be calculated by working out the difference between what your property is worth and what you owe on the mortgage.

7. Negative gearing.

Negative gearing can offer property investors certain tax benefits if the cost of the investments exceeds income it produces.

Australian law allows you to deduct your borrowing and maintenance costs for a property from your total income. So, while you are actually making a loss on the property, the advantage is that the loss can be used to reduce the tax on your other earnings. However don’t buy an investment property just to get a tax deduction.

8. Check the condition of the property Even with negative gearing, needing to replace the roof in the first few months of ownership could make significant difference to your cash flow. It is advisable to engage a building inspector before you purchase to find any potential problems, and use a qualified tradesperson to carry out the work.

9. Make the property attractive to renters.

Go for neutral tones and keep the kitchen and bathroom in good condition. You’ll find that you will attract better quality tenants if you have a well presented property and the last thing you want is a bad tenant.

10. Take a long-term view Remember that property is a long-term investment. The longer you can afford to commit to a property the better and as you build up equity then you can consider purchasing a second investment property.

Finally, remain aware that unlike shares or managed funds, you can’t just sell part of your investment property if you need money.