Market Overview Sunnybank Hills Q3 2018

SUNNYBANK HILLS Mid-year review page 4

Preparing your home for spring page 6

Sales for the quarter page 8

Charity – Red Frogs youth support network page 10

Community news page 12

Nationwide home loan crackdown page 14

2018 SECOND QUARTER PROPERTY REPORT Brought to you by your Sunnybank Hills area specialist

OWEN CHEN

0413 081 780 owenchen@eplace.com.au

Hello

friends & family As we say goodbye to winter we welcome one of our favourite seasons throughout Queensland as we look towards the warmer weather of spring.

This time of the year is commonly referred to as “the best time to sell” with more active buyers in the market looking for their next home or investment in the lead up to Christmas.

Although keep in mind with this commonly being known as “the selling season” it often means there is more properties on the market creating more variety for buyers. Despite this fact outstanding results are still often achieved during this time of the year. It all comes down to having the right agent with the right marketing strategy.

As always we appreciate your support and feedback for 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 that you’d 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 locals.

Enjoy this issue!

Your local specialist | Place Sunnybank

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Calamvale | Carindale | 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

Mid-year review

Page 5

Suburb statistics

Page 6

Getting your home ready to sell in spring

Page 8

Houses sold

Page 10

Charity – Red Frogs

Page 11

2018 ‘Shoot for the Stars’ winners

Page 12

Community news

Page 14

Finding it harder to get a loan?

Page 16

Your suburb specialist

2017 FINALIST REIQ Large Residential 2017 FINALIST

Place Estate Agents 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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MID-YEAR REVIEW Australian property prices facing ‘longest downturn in decades’ says UBS Investment Bank – The Sydney Morning Herald The phone call that could ‘drop house prices by 80%’ if another financial crisis hits – News.com.au Expert’s advice for first home buyers as prices drop and interest rates rise – News.com.au At the time of writing this market place overview, these were the first three articles that appeared when I searched ‘Australian Property Market’ in Googlenews. After 6 continuous years of growth in Brisbane, the market has slowed, the housing boom headlines have turned into housing crash headlines, and banks have started raising interest rates. Things have turned quickly, but maybe we shouldn’t worry about this. Why? Because when speculators talk about the Australian property market, they are really talking about Sydney and Melbourne.

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Year to date, Brisbane has had growth of 0.3%. This is a representation of the market overall, and some properties will outperform others. Undoubtedly,

the market has slowed down, but Brisbane’s resilience is less likely due to our market lagging behind Sydney and Melbourne, and more likely due to growth of Queensland’s economy, and population in the last few years. Market trends treaded negatively in the first quarter, but this was largely influenced by an oversupply of almost 20,000 vacant units (existing and planned).

Queensland has become the #1 destination for interstate migration (in the latest ABS Census data), taking over from Victoria. Overseas migration is also at its highest levels in years, which means the demand for accommodation will continue. This may be due to the affordability and lifestyle advantages compared to other

Houses sold in

SUNNYBANK HILLS QUARTER 3 2018

33 capital cities. In anticipation for the projected population growth, numerous public and private infrastructure plans have been approved such as the Brisbane airport extension, public transport and road upgrades and the Queens Wharf Project, just to name a few. All of this for the sake of further improving and enlarging the footprint of greater Brisbane.

There will always be a chance of a crash, or the market may already be in recovery. It’s always difficult to know what’s happening if you don’t do your research. As your area specialist on the front line, I am constantly monitoring changes in our specific area, and will continue to provide relevant and timely information to you. If you ever require up-to-date information and advice about the future of your property, contact me at any time and I will do my best to achieve the optimal solution for you.

Owen Chen 0413 081 780

28.1%

5 YEAR GROWTH

$685,000 2018 Q3 MEDIAN PRICE

$1,195,000 HIGHEST SALE PRICE

$450pw

AVERAGE RENT FOR HOUSES

90.3 days

AVERAGE DAYS ON MARKET

+0.3%

CHANGE IN MEDIAN PRICE

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9 TIPS

TO SPRING INTO THE SPRING MARKET It’s here! Spring selling season is upon us and it’s certainly not too late to be giving thought to readying your home for the market.

Taking steps to prepare your home now will help you avoid the stress of a last minute rush to market.

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6

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3

CLEAN & DECLUTTER

DO AN INSPECTION

TIDY THE FLOORING

Make your move easier by beginning the packing now. Clear out all clutter and remove items you don’t regularly use, throw away items that are broken or damaged, consider a storage facility for items you don’t need.

When you clean, pay attention to small details.

Wash windows, dust blinds, launder curtains, dust skirting, clean appliances and straighten contents of your closets.

This step will help you avoid any unpleasant surprises during the sale process. Inspect your walls and floors for water damage, check for plumbing leaks, make sure your windows don’t have broken seals, check for any signs of insects or rodents… and fix any problems that you find.

Carpets should be shampooed and treated for stains. Tile and hardwoods should be thoroughly swept and mopped to a shine. Any flooring that is stained, damaged or worn beyond repair should be removed and replaced. Hardwood floors that are scratched or have lost their sheen should be refinished.

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ELIMINATE ODOURS

MAKE AN ENTRANCE

FRESHEN UP FIXTURES

Use fragranced candles or reed diffusers to create a warm and inviting scent to your home.

Alternatively for a more natural scent, include freshly cut flowers, or fresh apples and cookies placed in plain sight in the kitchen.

Your front door is the first thing potential buyers will see when they visit your home, so remember to make it inviting. Paint the door if needed, replace any damaged hardware, keep decorations minimal and declutter the entrance area.

Light fixtures, bathroom mirrors, taps, shower heads and cabinet hardware can all be replaced for very little money and make a huge difference in terms of visual appeal.

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PAINT

FINISH ODD JOBS

STAGE FOR SUCCESS

While you might love your aubergine walls, there’s a good chance that most buyers won’t.

Many buyers want to see a blank canvas where they can inject their own personality. In order to make your home appeal to the largest possible audience, paint your walls in neutral colours in a matt finish.

Don’t forget to repair any nail holes or other damage before painting, and be sure to touch up ceilings and trim as needed.

Now is the time to complete any home improvement projects you have under way and make any necessary repairs to your home.

You’ll most likely find a buyer quicker and the sale process smoother if everything that needs to be done is taken care of before you list your property.

An important part of showing your home, staging can be done yourself or by professionals.

Place furniture to maximise the feelings of space and light in your home, with an eye to how rooms flow into each other.

If your decor isn’t cutting it, you can move your belongings into storage and rent furniture and artwork from a home staging service.

Excerpt from https://www.realestate.com.au/advice/10-ways-to-prepare-your-home-for-a-spring-sale/

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QUARTER 3 2018

SUNNYBANK HILLS Address

8

SPEC Bed,Bath,Car

Land m2

Sold

DOM

Sale Price

8/69 Stones Rd

2,1,1

227

28-Aug-18

41

$289,000

20/196 Hellawell Rd

3,2,1

183

25-Jul-18

233

$393,000

107 Ryhill Rd

3,1,1

405

03-Sep-18

438

$423,000

9 Landseer St

3,1,1

536

15-Sep-18

26

$460,001

122 Morden Rd

4,2,1

405

14-Jul-18

13

$480,001

12/24 Radan St

3,2,1

311

09-Aug-18

196

$490,000

329 Gowan Rd

3,1,2

700

17-Sep-18

79

$525,000

25 Ballater St

3,1,3

552

31-Jul-18

107

$540,000

79 Ditton St

5,1,2

602

15-Jul-18

111

$542,000

21 Analese St

3,1,1

615

20-Sep-18

43

$545,330

57 Gowan Rd

3,1,1

558

03-Jul-18

372

$568,000

59 Jackson Rd

5,2,1

610

13-Aug-18

43

$584,000

186 Gowan Rd

5,2,2

678

23-Jul-18

20

$610,000

19 Brushbox Cres

3,2,2

450

03-Sep-18

27

$618,000

73 Honeywood St

3,2,2

886

25-Aug-18

28

$625,000

15 Braemar St

3,1,2

635

25-Aug-18

32

$629,000

14 Coominyah St

3,2,2

864

22-Aug-18

65

$645,000

DOM | Days on Market

QUARTER 3 2018

SUNNYBANK HILLS Address

SPEC Bed,Bath,Car

Land m2

Sold

DOM

Sale Price

2 Pineneedle Pl

4,2,2

656

10-Sep-18

69

$675,000

3 Angy St

4,2,2

592

31-Aug-18

79

$685,000

18 Ravenala St

4,2,4

557

28-Jul-18

25

$708,000

64 Ryhill Rd

5,3,2

405

13-Aug-18

21

$730,000

114 Garro St

4,2,2

638

22-Aug-18

153

$735,000

1 Commodore St

4,2,2

915

18-Sep-18

132

$735,000

17 Tranquil St

5,3,3

620

08-Sep-18

25

$748,000

12 Damask St

4,2,2

647

19-Sep-18

60

$763,000

5 Kentucky St

4,2,2

713

19-Sep-18

71

$765,000

7 Persoonia Pl

6,3,2

815

23-Aug-18

79

$785,000

12 Illionois St

4,3,2

401

07-Sep-18

84

$800,000

15 Narell Ct

5,2,2

1,092

07-Aug-18

30

$800,000

34 Pompadour St

5,4,2

607

27-Aug-18

32

$849,000

22 Hathaway Pl

4,3,2

1,001

06-Jul-18

23

$1,007,000

37 Lynelle St

4,3,0

808

05-Sep-18

166

$1,100,000

47 Callendar St

4,3,3

986

14-Sep-18

186

$1,195,000

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

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COMMUNITY NEWS CHARITY

RED FROGS Red Frogs is a support program for young people from the ages of 15 – 25.

We recognise that the culture of young people is dominated by alcohol and that excessive consumption of alcohol and other substances can often lead to dangerous and life-altering behaviours.

At the core of Red Frogs is the heart to provide direct relief from alcohol-and drug-related issues that are known to cause anxiety, suffering, distress and helplessness amongst the youth of our nation. They are the next generation of leaders, business entrepreneurs, teachers, engineers, environmentalists and parents. They are our future.

Therefore we’ve made it our mission to provide a positive peer presence in alcohol-fuelled environments where young people gather; educate young people on safe partying behaviours; and promote alcohol-free and/or diversionary activities that engage young people in these environments.

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To read more about the Red Frogs programs and harm prevention strategies please visit redfrogs.com. au/programs.

YOUR CONTRIBUTION HELPS TO ‘SAFEGUARD A GENERATION’ $100

30 Pancake Shakers feeding 300 Schoolies

$240

1,440 festival goers hydrated

$350

A volunteer on the ground at Schoolies Week

$450

A school sponsored with a Red Frogs Education Program

$3,500

Hydration Station

WINNERS

2018 PLACE SUNNYBANK SACRIFICES... $1 PER DAY FOR 60 DAYS &...

PLACE ANNUAL AWARDS 2018 were held at The Star Gold Coast.

Place Sunnybank brought home 3 awards in total.

It is a great honour and privilege for us to receive these awards. Thank you to our valued customers for their trust and continued support.

OWEN CHEN Place Values: Excellence

SKYE Giving up sugar JESS Committing to gym 3 times a week

NICK YAMADA Platinum Level Sales Award

KE Give up buying kids toys MINH & NADIA Commit to gym and healthy eating JASON Committing to gym 6 times a week

JESS CHIA Silver Level Sales Award

PETER Giving up meat, wine & beer MICHAEL Giving up fast food GEORGE Give up bubble tea/commit to gym JONATHAN Refrain from ordering UberEats

$575.00

DONATED

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COMMUNITY NEWS

RATES INCREASE You may or may not have noticed, but your rates went up this financial year as part of the 2018 Brisbane City Council Budget. In Sunnybank Hills, our rate rose by 6.5%. So what are you getting for you money in the latest City Council Budget?

• Hellawell Road and Borella Road intersection upgrade plus traffic lights • New traffic lights at Hellawell Road and The Avenue intersection, and Bellmead Road and Warrigal Road intersection.

• Upgrade of the MacGregor State School Drop’n’Go on McCullough Road • Investments to keeping our waterways such as Bulimba Creek and Mimosa Creek clean, green, and sustainable

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It’s important to know that each council collects rates from residents and businesses in its municipality to help fund local infrastructure and services. Calculating how much each property owner pays in rates involves determining the total amount of rate revenue required and dividing this across the total value of all rateable

properties to establish a rate in the dollar.

The rate in the dollar is then applied against each individual property value to calculate how much each property owner pays. Rates usually make up about half of a council’s income, and they are a form of property tax. Council income must be within allowable limits, and that is why rates are also reduced sometimes.

Councils have concession programs to subsidise rates for eligible pensioners and those with financial hardship. If you fall into these categories, please contact your local council for a possible solution.

COMMUNITY NEWS

STAN’S

BRAISED PORK BELLY INGREDIENTS

STEPS

1kg Pork Belly (Skin Off)

1. Cut the pork belly into 3-5cm squares.

5 Slices (3mm Thick) Sliced Ginger 200ml Japanese Cooking Sake 45ml Kikoman Soy Sauce* 60ml Mirin* 2tblspn Raw Sugar* Serves 3-4 People

2. In a large pot put the pork belly and plenty of water to cover the meat.

3. Put the pot on high heat and once it boils turn it down to low heat and let it boil for 30min.

4. After 30min of boiling take off from heat and place lid and let it sit for another 30min.

5. Dispose the water and wash the pork belly thoroughly with water. (be gentle so the meat wouldn’t break) 6. Wash the used pot and put the * ingredients into the pot and place the washed pork belly and sliced ginger. Place a baking paper directly on top of the meat so that it covers it.

7. Put on high heat and once it boils drop it down to low heat and cook for 30min.

8. After 30min take the pot off the heat. Let is cool down for another 15-20min before serving for the sauce to be absorbed into the meat.

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Finding it harder to get a loan?

HERE’S WHY It’s harder to get a loan in Australia right now than it has been in years.

The big banks have been whacked by the financial services royal commission and the media for lax lending standards.

And it seems they’re taking note. Figures from the Australian Prudential Regulation Authority show growth in new loans is slowing from 6.6% about a year ago, to 5.8% earlier this year.

That is because of a few factors, including a crackdown on investor loans, a move away from high-risk loans, and increased paperwork checks for all borrowers.

In practice, it means some would-be buyers are struggling to get finance.

Paula Mills runs the Academy of Entrepreneurs in Sydney. She has a full-time staff of 15 and hundreds of thousands of dollars in the bank. She said even though her financial situation is “very healthy”, she can’t get a bank to extend her home loan.

Real estate agents around the country are seeing the impact of the credit crackdown at quiet auctions and open homes.

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“Absolutely there’s a credit crunch across the country,” Malcolm Gunning, the president of the Real Estate Institute of Australia, said.

“The royal commission has really uncovered a few problems in the lending policies of the banks, so the banks have reacted and taken a more conservative approach.”

As buyers struggle to get finance, it’s driving prices down, he said.

National Australia Bank’s chief economist, Alan Oster, dismissed talk of a sharp fall in house prices.

“I think it’s alarmist to say you’re going to have a crash in house prices,” he said.

Mr Oster said the cooling of the market was being driven by regulatory changes that cap investor loans, and also by tighter checks on borrowers.

“I think one of the issues people are worried about is how much the banks have really understood your income and ability to pay back a loan,” he said.

“So banks will now say, ‘Right, we really do want to see a copy of your pay slip, we’re not just going to use an automatic system’.”

He said the type of person who can borrow money was also changing, thanks to a regulatory crackdown.

“The investor market is down, and the owner-occupier is up, so there’s been a switch.”

Excerpt from http://www.abc.net.au/news/2018-07-16/finding-it-harder-to-get-a-loan-heres-why/9999912

“I will always be striving to provide the most memorable conveyancing experience for all my clients�

DAVID YANG | Mortgage Specialist m: 0450 088 688 t: 07 3194 0888 e: david@timehl.net.au Australian Credit Licence: 433589 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

BRENDAN YUNG CONTACT ME 7 DAYS T: 0404 526 526 E: brendan.yung@bytherules.com.au

Darren Han Director

JOHN PUPAVAC

0411 874 464 07 3804 1300

john@jpinspections.com.au T 07 3323 3136 M +61 433 225 386 Darren.h@fensonlawyers.com.au Office: 1/18 Torbey St Sunnybank Hills

Building Inspection Lic No.

75147

Pest Technician Lic No.

13739

Insurance Accreditation No.

3557

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Owen Chen GREAT AGENT AND GREAT TEAM I believe not many buyers are as picky as me, but Owen’s team understood my needs and actively followed up when there were new properties available. Working with Place, you know that you are supported by a team rather than an individual like any other agent. Many thanks to Owen and his team who have helped and provided their professional advice during the journey. – Tao, review from ratemyagent.com.au

OVER

$100m Total Sales in 12 Months

OVER

90

Transactions in 12 Months

OVER

11yrs Selling in your area

Statistics are for Place Sunnybank and Place Sunnybank Agents in general. All information is correct at time of printing

CALL

OWEN CHEN

OFFICE

Follow me on Facebook, Instagram and WeChat for updates happening in & around 4109

07 3193 8788 3a/531 Kessels Rd Macgregor Q 4109

0413 081 780 | owenchen@eplace.com.au