Market Overview Mount Gravatt East Autumn Edition 2019

MOUNT GRAVATT EAST 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 Mt Gravatt East area specialist

STAN EGAWA

0466 999 300 stanegawa@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

MOUNT GRAVATT EAST Quarter 1 2019

20

HOUSES SOLD

$1,380,000

50 days

HIGHEST SALE PRICE

AVERAGE DAYS ON MARKET

$685,000

1.75%

2019 Q1 MEDIAN PRICE ($650,000 in 2018 Q4)

CHANGE IN MEDIAN PRICE (Median in Q1 2018 $673,000)

34%

$440pw

5 YEAR GROWTH

4

AVERAGE RENT FOR HOUSES

Market place overview 2019 has started strongly for my clients in Mount Gravatt East. If you have been reading my past reports I have repetitively said in Mount Gravatt East the property market has not been that bad as many people say. However, it is a very confusing market now more than ever! The reason for this is because comparable properties are selling with a significant price difference. This is not only confusing the owners in the area but the buyers who are wanting to buy in the area too, which is making them even more hesitant to throw out a strong offer even when they have a strong interest in the property.

best price possible it is extremely critical to engage with an agent who has the below key capabilities.

• Has a hyper local knowledge and have a good understanding of who would be the perfect buyer for your house.

• Willing to go out of their way to bring more buyers, proactively talk to buyers and motivate and encourage them to make an offer/come for a second inspection/come to bid at the auction.

• Will run multiple open homes in a week to increase the chance meeting more buyers and create more opportunities for the buyers to come back for a second viewing.

• Who will communicate back to you on a The medias are keeping it very consistent daily basis to make the selling process with their message that the property market transparent. isn’t going in a positive direction and this may be true in some suburbs in Brisbane.

• Can identify the key buyers and create However, looking at the number of buyers and handle the competition as in this coming through the properties listed in market the only driving factor to get a the first quarter in Mount Gravatt East the better price is for the agent to create number and the activity level of these buyers urgency and competition. has been still very healthy. Which means In conclusion Mount Gravatt East market Mount Gravatt East is outperforming many is still positive at present. However, we other Brisbane suburbs in this market. are no longer in a sellers’ market but in a changing market where situation can Although, having said that I can definitely change very quickly and may crumble. confirm that we are not in the happy 2015, If your plan is to be selling in the next 2016 when it was almost guaranteed that few years time it may be a good idea to the next comparable house for sale will go understand where you sit in this market. for a higher price. What this mean to you Call me today I would love to help! especially if you are thinking of selling your house soon and if your goal is to sell for the Stan Egawa 0466 999 300

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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.

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*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

MOUNT GRAVATT EAST SPEC

Address

Land m2

Sold

DOM

Sale Price

3,1,1

392

23-Mar-19

68

$487,000

47 Gordon Pde

4,1,1

645

25-Mar-19

153

$580,000

67 Amega St

3,1,4

607

19-Mar-19

95

$590,000

30 Boambilee St

3,1,2

625

19-Mar-19

47

$630,000

9 Hicks St

3,2,2

637

5-Feb-19

6

$631,000

24 Boambilee St

3,1,4

607

7-Feb-19

13

$645,000

4 Rothwell St

3,2,4

615

20-Feb-19

42

$652,700

3,1,2

587

27-Mar-19

16

$670,000

127 Grenfell St

3,1,1

610

25-Jan-19

10

$681,000

86 Gatton St

4,3,2

506

11-Mar-19

53

$685,000

3,1,4

587

29-Jan-19

4

$685,000

3,2,4

647

22-Mar-19

78

$705,000

4,2,2

670

9-Feb-19

25

$750,000

2 Dewsbury St

4,1,2

647

2-Mar-19

24

$782,000

42 Hawkwood St

4,1,2

810

2-Mar-19

32

$795,000

17 Antonia St

5,3,4

1,039

25-Jan-19

71

$817,000

30 Grevillea St

4,2,4

863

2-Feb-19

2

$905,000

4 Nantwich St

4,2,6

749

8-Mar-19

136

$950,000

5,3,2

405

26-Jan-19

92

$1,045,000

5,3,3

647

30-Mar-19

33

$1,380,000

Bed,Bath,Car

128 Broadwater Rd Sold By

146 Dunbar St Sold By

142 Dunbar St Sold By

40 Oakfield St Sold By

29 Westbrooke St Sold By

66 Eyre St Sold By

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31 Spence St DOM | Days on Market

STAN EGAWA’S Q1 2019

HIGHLIGHT SALES 2 Dewsbury St • New street record for Dewsbury Street • New suburb record 4 Bed 1 Bath on a non-splittable block • 56 groups of buyers through the 4 week campaign

SOLD AN

BY ST

A EGAW

• 9 competitive offers presented prior to auction • SOLD prior to auction

31 Spence St • New street record for Spence Street • New suburb record for residential home on less than 1,000m2 land • 200+ groups of buyers through the 5 week campaign • 10 registered bidders

SOLD AWA

AN EG

BY ST

• 13 cash bids at auction • SOLD under the hammer

9 Disclaimer: Both top sales are based on recorded data only.

Information correct at time of print as sourced from RP Data and Pricefinder.

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

CHANGING STANDARDS of renovations and the traps behind it

Many of you reading this may agree that Mount Gravatt East is a growing suburb where there are many properties being renovated every day. Below are some common reasons why owners look at renovating their property.

1. To suit the existing/future family’s lifestyle 2. To make the property more attractive for potential tenants if leasing the property 3. To make the property more appealing to potential buyers to prepare for sale.

4. Renovators completely revamping the property to gain a profit from selling the house What are the common things that require certifications/approvals from the council?

• Extensions and structural changes to the property (including replacing of existing structures) • Waterproofing of wet areas (ie. bathrooms etc) • Significant land scaping and plumbing/ drainage • Replacement/instalment of hot water system

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Knowing that the price for these works can vary significantly, if a quote came back from builder A at $10,000 and from a handyman

B at $5,000, it is very tempting to go with the cheaper one but before you make a quick decision you always want to make sure why there is such a significant difference in price because that could possibly be the difference between a compliant and a noncompliant job.

The big change that I have discovered in the past couple of years with buyers today is that more and more of them are paying extra money to their solicitors to run extensive council checks to make sure that any renovations/extensions done have been certified and approved. If not they will come back to use it against you as a discount tool.

What this means especially to owners who are thinking to renovate to sell is that you might save money on the cost of renovation but at the end of the day if the buyer finds out they will likely use it to bargain the price or cancel the contract all together, so you might not be adding value to the house as desired after all.

If you want to discuss more specifically about your place call me today for a catch-up! I would love to help regardless of whether you are thinking about selling or not!

Stan Egawa 0466 999 300

COMMUNITY NEWS

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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Stan Egawa A TRULY DEDICATED AGENT The level of outstanding dedication Stan Egawa from Place Sunnybank, put into the sale of my property will be something I will be truly indebted for. He worked tirelessly for months in helping me organise my house in preparation to sell, and I am incredibly happy with the result. I would thoroughly recommend Stan to everyone!

- Kim from Mount Gravatt East

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

STAN EGAWA

0466 999 300 | stanegawa@eplace.com.au @ stanegawarealestate Follow me on Facebook and WeChat for updates happening in & around 4122