EIGHT MILE PLAINS AUTUMN EDITION 2019
Market overview page 4
Federal election 2019: how it affects real estate page 6
Sales for the quarter page 8
Benefits of interior styling page 10
Community news page 12
Easy retirement living page 14
Property Report brought to you by your Eight Mile Plains area specialist
GEORGE YANG 楊華 0488 199 888 georgeyang@eplace.com.au
Hello
friends & family We hope you have had a great start to 2019 and you got some muchneeded time off with family as well as friends over the Easter break. It feels like a few short weeks ago we were welcoming the start of 2019 but as we continue to navigate the year, we will be looking at the end of financial year and the Queensland winter season before we know it! In this quarterly wrap up, we’ve put together some key information to keep you updated with the latest sales, developments and community news happening in your local area. The last 3 months of the financial year are often an interesting and busy time for the real estate industry as lots of home owners look to make a move on, cash in or get an update on their investment allowing them to financially plan for the forthcoming financial year. As always, we appreciate your support and feedback on our market reports and we try our best to bring you the most relevant and up to date information possible. If there’s anything in regards to real estate you would like to know about or even if you would like to feature your local business in our next issue, please don’t hesitate to get in touch. We love supporting our local community! Enjoy this issue! Your local specialist | Place Sunnybank
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Calamvale | Carindale | Drewvale | Eight Mile Plains Kuraby | Macgregor | Mount Gravatt East | Parkinson Robertson | Rochedale | Rochedale South | Runcorn Stretton | Sunnybank | Sunnybank Hills | Wishart
PLACE SUNNYBANK TEAM
Contents Page 4
Market overview
Page 5
Suburb statistics
Page 6
Federal election 2019: How it can affect real estate
Page 8
Houses sold
Page 10
Benefits of interior property styling
Page 11
RateMyAgent awards 2019
Page 12
Community news
Page 14
Brookland Retirement Village: Easy retirement living
Page 16
Your suburb specialist
2017 FINALIST REIQ Large Residential 2015 REIQ LARGE RESIDENTIAL AGENCY OF THE YEAR Disclaimer: Every effort has been made by Place Sunnybank to ensure that all information in this document is correct at time of printing.
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Statistics
EIGHT MILE PLAINS QUARTER 1 2019
17
HOUSES SOLD
$1,090,000
75 days
$694,500
+3.7%
23%
$495pw
HIGHEST SALE PRICE
2019 Q1 MEDIAN PRICE
5 YEAR GROWTH
4
AVERAGE DAYS ON MARKET
CHANGE IN MEDIAN PRICE
AVERAGE RENT FOR HOUSES
Market place overview It has been an interesting start to 2019. A lot of queries and a lot of concern out in the market. From my conversations with the local community, everyone has either: 1. Noticed less ‘For Sale’ signs 2. Read in the local paper OR 3. Heard from a neighbour, radio or seen it covered on the television about what is going on in the “market”. The sales data shown from the first quarter of 2019 shows a bit of a mixed response from the local Eight Mile Plains market. The number of residential home transactions that have occurred has definitely dropped significantly (almost half) compared to last quarter of 2018. However this isn’t that surprising as the start of the year always gets off the ground a bit slower compared to the mad rush of the last quarter in the year when everyone tries to sell before the holidays come around. What is interesting though is the fact that more than half of the sales recorded were actually properties that were listed in late 2018, meaning that there have been very few new properties offered to the market this year so far. So there is no doubt that supply is at an alltime low. The question is have buyers shied away from buying in Eight Mile Plains? It certainly doesn’t appear so, with 5 from the last 6 auctions in Eight Mile Plains in the last quarter either selling under the hammer or selling cash unconditionally
beforehand. That is a pretty solid clearance rate of 83% compared with the Brisbane average of around 40% at the moment. Another point worth making is the fact that the median price appears to have taken a bit of a tumble. However the amount of expensive properties transacting in this last quarter was significantly less compared with what we have seen in previous quarters, therefore making it appear that prices have slumped, when it actual fact, they remain steady. Everyone’s focus now is the national election that is set to occur on May 18th. Who will get in? Regardless of who gets in, whenever a Federal Election rolls around, pundits, commentators and the public always ponder the likely impact on the real estate market, especially given that the housing market is the backbone of Australia’s economy. We will certainly be keeping a very close eye on this election and its impact over the coming months. As a local in your market every day, I aim to be as relevant in providing valuable information to you as possible so if you have any queries about the local market, or curious about where your home sits in the current market, I’d be more than happy to have a confidential chat with you. George Yang 0488 199 888
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FEDERAL ELECTION 2019 how it could affect real estate There will be a number of hotly contested topics relating to real estate at the upcoming* election including negative gearing, capital gains tax and the banking royal commission. Read on to see how this might affect you and your property. Negative gearing The way the Liberals tell it, the choice that voters face this election is: vote for the Coalition and the economy will prosper; vote for Labor and the economy will crash. Perhaps no policy debate has highlighted this messaging more than negative gearing. The LNP wants to keep the policy as it is, while Labor wants to limit the tax concession to newly constructed properties from 1st January 2020. All investments made before this date will not be affected by the changes and allow for negative gearing (this is called the ‘Grandfather Clause’). First home buyers might see this as an opportunity to get their foot in the door with a potential drop in investor activity, meaning one less buyer group in the market that they have to compete with. 6
*at the time of print
Existing homeowners might be concerned about a potential drop in investor activity. The change in policy could see less demand and buyer competition, resulting in falling prices.
Capital Gains Tax Currently, people who sell an investment property that they have owned for more than 12 months are eligible for a 50% discount on the tax, which they would normally have to pay on any profit made from the sale. As with negative gearing, the LNP wants to leave this policy as it is, while Labor wants to reduce the discount from 50% to 25%, in an attempt to tilt the playing field in favour of first-home buyers. In a similar scenario to the previous policy, this reduction in tax concession may spell good news for buyers, particularly first-home buyers as they face less competition from
investors. However for investors, without the same tax breaks it might disincentivise them from investing further in real estate or have them demand higher rental yields to make up for the lack of concession. And for that to happen, either the price of the investment property needs to go down, or the rent needs to go up, once again putting a downward pressure on house prices.
Banking royal commission Led by Commissioner Kenneth Hayne, the inquiry has dominated headlines in recent months bringing to light a range of unethical practices in the banking and financial industry. As a result, banks have already been forced to carry out more diligent checks before lending out money, making it harder for buyers to access finance. With this in play, buyers will either get finance knocked back or borrow less, therefore bidding less on houses resulting in prices falling. No matter which party gets voted in, both parties have apparently agreed to implement recommendations made by the commissioner Kenneth Hayne’s final report. For more information on this final report, visit: https://financialservices. royalcommission.gov.au/Pages/reports.aspx 7
Source: realestate.com.au, 2019
QUARTER 1 2019
EIGHT MILE PLAINS SPEC
Address
SOLD
8 DOM | Days on Market
Bed,Bath,Car
Land m2
Sold
DOM Sale Price
33 Avonlea Pl
5,2,2
551
14-Jan-19
63
$795,000
5 Maroo St
4,2,1
608
18-Jan-19
9
$556,800
5 Raymond Rd
4,2,2
600
22-Jan-19
110
$615,000
4 Moruga St
3,1,4
601
24-Jan-19
98
$548,500
4 Daydream Pl
4,2,2
600
4-Feb-19
103
$735,000
8 Kurru St
4,2,2
606
7-Feb-19
49
$732,000
1 Boorala Cr
4,1,2
650
13-Feb-19
92
$610,000
10 Azzure St
5,4,2
690
16-Feb-19
137
$1,090,000
8 Pumice St
5,4,2
758
16-Feb-19
32
$990,000
4 DAYDREAM PLACE, EIGHT MILE PLAINS
$735,000
LAND SIZE
600m2
TOP LOWSET SALE
DOM
103
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SALE DATE
4 FEB 18
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QUARTER 1 2019
EIGHT MILE PLAINS SPEC
Address
SOLD
Bed,Bath,Car
Land m2
Sold
DOM Sale Price
16 Amarna St
3,1,2
624
18-Feb-19
146
$635,000
12 Gwandalan St
4,2,2
664
18-Feb-19
123
$617,000
76 Bolton St
4,3,2
633
9-Mar-19
32
$742,000
58 Brampton St
4,2,4
803
12-Mar-19
163
$600,000
7 Settler St
4,2,2
700
18-Mar-19
10
TBA
103 Bolton St
4,2,2
425
21-Mar-19
66
$657,000
48 Bordeaux St
5,3,3
886
23-Mar-19
32
$1,050,000
7 Petrina St
5,3,3
809
30-Mar-19
25
$910,000
10 AZZURE STREET, EIGHT MILE PLAINS
$1,090,000
2019 QUARTER 1 TOP SALE
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4
2
Information correct at time of print as sourced from RP Data and Pricefinder.
LAND SIZE
690m2
DOM
137
SALE DATE
16 FEB 18
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7 WAYS INTERIOR STYLING CAN INCREASE YOUR SALE PRICE First impressions are everything when potential buyers click on a property listing or walk into a home open. We incorporate these 7 vital methods into our professional styling to maximise the final selling price for our clients. 1. Decluttering Nobody wants to buy a home that’s filled with signs of someone else’s life, so be sure to tidy away keys, notepads, magnets from the fridge and everyday clutter. Having trouble finding space? Natural textured baskets and boxes provide beautiful storage options to help you easily hide things away. 2. Updating walls with fresh paint Painting is one of the simplest ways to add value to your property’s sale price. A walk through the property can help to identify areas that can be freshened up with new coats of paint, and don’t forget to look up – crisp white ceilings can make rooms feel larger and more open. 3. Adapting room purposes While it’s impossible to tap into the mind of every potential buyer, it pays to consider how your rooms can be used to their best advantage. While you might have an unused formal lounge area in a corner of your home, adapting this into a modern office space or extra bedroom could add appeal and value.
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4. Refreshing curtains or window coverings Modern window coverings are a world away from those of even a decade ago. If your property features curtains or out-dated vertical blinds, it can be worth investing in sheer blinds or sleek timber venetians to update your rooms and add a sense of privacy – particularly in front-facing rooms.
5. Hanging artwork to suit the space There’s no need to convert your property into a modern art gallery, packing away personal photos and replacing them with proportional, appealing artworks can add value. The size and location of artwork can either enhance or diminish a space, so if in doubt trust an experienced stylist. 6. Choosing the right rugs Just as with artwork, a rug can ‘make or break’ a room. A rug that is the wrong shape or size for its space can actually create a sense that something isn’t quite right. When home staging in Brisbane, our stylists carefully select rugs to define areas and add a sense of comfort to each space. 7. Thinking light and bright Properties can be transformed by the right lighting. Our property stylists employ a number of techniques to make rooms feel larger, including the use of white or light paint, updating old-fashioned globes with modern LEDs or warm fluorescent options, and – most importantly – letting natural light flood in. If you would like to know more about our services, or would simply like an obligationfree quote, contact us today.
KATRINA CUNNANE State Manager & CRM T: 1300 387 647 M: 0498 800 888 E: katrina.cunnane@furnishandfinish.com W: www.furnishandfinish.com
5 REASONS TO CHOOSE PLACE SUNNYBANK 2019 AWARDS
SUNNYBANK
QUEENSLAND
AUSTRALIA
We are extremely proud to receive the 2019 Agency of the Year award in Sunnybank from RateMyAgent. We are also incredibly honoured to land within the Top 10 Agencies in Queensland and Top 100 in Australia overall. We want to sincerely thank each and everyone of our clients for our wonderful reviews over the past year.
PROPERTY MANAGEMENT 1. Skilled Real Estate Professionals, bilingual in Mandarin and English 2. Highly experienced property managers providing exceptional customer service for all clients 3. Over 20 years industry experience across the team 4. Expertise in relevant legislative requirements to minimise unnecessary property investment risks 5. Providing Quality service and value for money Contact us today for a free rental appraisal or simply get some property management advice. T: 07 3193 8788 E: sunnybankrentals@eplace.com.au
We will strive to continually improve, so if you are seeking any real estate advice, please do not hesitate to get in touch with your local agent, we are always happy to help. 3A/531 Kessels Rd, MacGregor QLD
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COMMUNITY NEWS
CONSTRUCTION COMMENCES $4.5 million parking upgrade Eight Mile Plains The first sod has been turned for a new commuter car park that will provide 340 car parks for the park ‘n’ ride located in Eight Mile Plains. Mark Bailey, Minister for Transport and Main Roads attended the ceremony, which formally started construction on the $4.5 million Parking Upgrade at the Eight Mile Plains bus station. The project seeks to ensure commuters can be provided for when taking alternative transport into the Brisbane CBD. Minister Bailey outlined that the upgrade will provide the total number of commuter car parks at Eight Mile Plains to more than 1,200. Project Features • Bicycle storage racks, • Pedestrian pathways realignment
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• • • • •
Drainage improvements CCTV cameras and lighting installed Removal of some trees Landscaping will be undertaken 340 car parks
“As a major hub for shuttle services to select events at the newly built Queensland State Netball Centre and other venues, the car park upgrade is also a win for sports and event lovers”. “When an event is on and shuttle services are operating, all you have to simply do is park your car at Eight Mile Plains station and hop on the bus.” Mr de Brenni said. Project Timing: Expected to be completed – late 2019 (source: www.yourneighbourhood.com.au)
For more information, please visit https://www.tmr.qld.gov.au/Projects/Name/E/Eight-Mile-Plains-station-park-n-ride
Stan’s Secret Recipe
PEPE TAMA SPAGHETTI INGREDIENTS
1
In a large pot boil water (boil 2 litres of water with 200g of salt), once the water is boiling cook the pasta according to cooking guide on the packet.
2
Once the pasta is cooked, remove the pasta from the water into a strainer. *Keep the pasta boiled water.
3
Chop the garlic cloves finely, cut the bacon into thin rectangular pieces, beat the eggs in a bowl and put parmesan cheese, salt and pepper and mix well (egg sauce).
4
A pinch of Salt, black pepper (coarse) & parsley
In a large fry pan or a wok pour the olive oil and put the chopped garlic and put heat to high. Be present and mix the garlic well until it starts chirping. *make sure you don’t let it burn.
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Salt for boiling pasta – 1% of water (for 1 litre of boiling water use 100g)
Once you start smelling the nice garlic smell put the bacon and the chilli flakes in and stir fry until the bacon turns a bit brown.
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When the bacon is ready put the pasta in along with 4 table spoon of the water you boiled the pasta in and stir well.
7
Stir well until the pasta, bacon, garlic and chilli is mixed well then pour the egg sauce into it and mix well. Stir/mix quickly, count till 10 and remove off heat immediately. *Best when the egg is a bit runny.
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Serve pasta on plate and sprinkle some parsley in the middle and there you have it!
(Serving for 2)
Pasta/Spaghetti 180g Garlic cloves x 8 Chilli flakes x 2 tsp (2 tblsp if you like it to be spicy) Olive Oil x 2 tblsp Egg x 4 Bacon 100g
Shredded parmesan cheese 150g
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18 Romulus Street, Robertson
Are you or your loved ones finding it harder to stay on top of things around the house? As we get older, maintaining a large home and garden can begin to feel more burdensome and time-consuming than it used to. If your current home is becoming a source of stress or worry, it might be time to think about a change. Retirement village living can be an ideal option for those who want to downsize and enjoy an easier, lowmaintenance lifestyle. At Brookland Retirement Village, residents can hand all home and garden maintenance over to experienced staff. Everything is taken care of, from mowing the lawn and cleaning the gutters to changing light bulbs. Even things like the oven and hot water system are maintained and replaced by the village operator, rather than the resident. With everything looked after, residents have more time for the things they enjoy, like seeing loved ones, travelling, pursuing hobbies, or getting involved in the social side of village life. At Brookland, you can participate as much or as little you choose, but many residents say moving to a retirement village helped to improve their social life thanks to the wide range of organised activities, get-togethers, functions and classes on offer.
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Most retirement villages have a community centre that play host to all these events as well as housing communal facilities. These may include a library, hairdressing salon, auditorium, swimming pool, gym, consulting rooms for visiting health professionals, and even a café.
Having all this at your fingertips is especially handy for those who don’t drive–as is the private village bus, which offers shopping trips several times a week. Another key benefit is the supportive, friendly environment. In a retirement village, unlike a residential complex, residents can feel secure and comfortable knowing they live among people at the same stage of life, which brings a strong sense of belonging and community. Brookland Retirement Village resident Ann Fletcher is enthusiastic about the benefits of village living.
“It’s great. Everyone is friendly and we all look out for one another, we haven’t looked back!” Brookland Retirement Village currently has a range of beautifully renovated independent living villas and apartments available for sale. If you think a retirement village might be right for you, call the team at Brookland on 3345 9143 or visit brookland.com.au to book a personal tour.
BRENDAN YUNG T: 0404 526 526 E: brendan.yung@bytherules.com.au
DAVID YANG
Mortgage Specialist m: 0450 088 688 t: 07 3194 0888 e: david@timehl.net.au Australian Credit Licence: 433589
“I will always be striving to provide THE MOST MEMORABLE conveyancing experience for all my clients.”
Open the door to quicker and better finance options for your client We provide real choice between lenders We do the legwork We may negotiate a better outcome We keep the competition alive We help at a time & place that suits you
Lawn Mowing Hedging & Pruning Rubbish Removal Gutter Cleans Tree Lopping Property Make Over Specialist
Interior & Exterior Renovations
TEL 0419 768 432
HANDY MAN JOBS “NO JOB IS TOO BIG OR SMALL”
peter@peterpansservices.com.au
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George Yang CLASS ACT, POSITIVE EXPERIENCE George was a consummate professional through our whole sales process. He treated us and our property with the utmost respect and at all times, we were confident that he was working for us. We would definitely recommend George to anyone looking for an agent to sell their property. – Mike & Gail, 61 Demigre Street seller (a review from ratemyagent.com.au)
OVER
$100m Total Sales in 12 Months
OVER
177
Transactions in 12 Months
OVER
12yrs Selling in your area
Statistics are for Place Sunnybank and Place Sunnybank Agents in general. All information is correct at time of printing
CALL
GEORGE YANG 楊華
0488 199 888 | georgeyang@eplace.com.au 3a/531 Kessels Rd, Macgregor