SUNNYBANK Market place overview page 5
Downsizing contributions into superannuation page 6
Place Sunnybank team spirit page 10
Community news page 12
It’s a Place auction page 14
2018 FIRST QUARTER PROPERTY REPORT Brought to you by your Sunnybank area specialist
ESTELLE LIN
0425 490 208 estellelin@eplace.com.au
Hello
friends & family It feels as though just a few short weeks ago we were celebrating the start of 2018, but now as Easter has come and gone in the blink of an eye we are already a quarter of the way through the year! Where is the time going? In this quarterly wrap up, we’ve put together some key information to keep you updated with the latest sales and developments in your suburb, along with some community insights into what is happening in your local area. The first 3 months of the year can often be a busy time for the market and families alike. We regularly see lots of families and couples selling early in the year as they look for a change of lifestyle. In contrast, we also see families urgently trying to buy before the start of the school semester in order for their children to attend their first day of the schooling year! 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 with regards to real estate that you’d like to know about or even if you’d like to feature your local business in our next issue, please don’t hesitate to get in touch. We’d love to support the local community where we can. Enjoy this issue! Your local specialist | Place Sunnybank
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Calamvale | Eight Mile Plains | Kuraby | Macgregor Mount Gravatt East | Parkinson | Robertson Rochedale | Rochedale South | Runcorn | Stretton Sunnybank | Sunnybank Hills | Wishart
PLACE SUNNYBANK OFFICE
Contents Page 4
Suburb statistics
Page 5
Market place overview
Page 6
Downsizing contributions into superannuation
Page 8
Houses sold
Page 10
Place Sunnybank team spirit
Page 12
Community news
Page 14
It’s not just an auction it’s a Place auction
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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Houses sold in
Sunnybank QUARTER 1 2018
25 $1,350,000
91 days
$753,000
-3.3%
46.7%
$450pw
HIGHEST SALE PRICE
2018 Q1 MEDIAN PRICE
5 YEAR GROWTH
4
AVERAGE DAYS ON MARKET
CHANGE IN MEDIAN PRICE
AVERAGE RENT FOR HOUSES
Market place overview In the past 5 years, the median sale price in Sunnybank has grown 46.7%. In 2018, we have seen glimpses of a slowing in buyer activity. What does this mean for our market? The last 24 months has seen the number of sales decline from 234 (2015), to 230 (2016), and 200 (2017). As a result, the median sale price rose because stock became scarcer. But in the last quarter, there has been a 3.3% drop in median price, the first drop in more than 5 years. This may be an indication that we transitioning to a balanced market. Possible reason are:
In a balanced market, we believe that it is still a good time to buy and sell as interest rates are still low, and there is still a lot of interest for Sunnybank locally, and from Sydney and Melbourne where buyers are priced out of the market. Low stock also helps to maintains demand and prices, but will this stability hold for the next three, six, or twelve months? No one knows.
1. Homes loans becoming harder to apply for as a result of lenders imposing ‘responsible lending restriction’ in response to household mortgage stress.
As the property market becomes more stable, I would strongly recommend that Sunnybank Hills residents review their portfolio and accelerate their plan to move. As an experienced agent, I would recommend that you utilise the news about the Market Square development and the continuing low interest rates to achieve the best possible result.
2. Chinese Government crackdown on foreign investment outflow. 3. Recent falls to Sydney market causing uncertainty to Australian market. 4. Weaker job market causing migration to Sydney and Melbourne.
If you are thinking of selling in the future, please call Estelle to plan your next move. Estelle Lin 0425 490 208 5
Downsizing contributions into
SUPERANNUATION As mentioned briefly in last year’s market report, from 1 July 2018, the Australian Government will introduce the ‘Contributing the proceeds of downsizing into superannuation (downsizing)’ measure. This measure is part of a package of reforms to reduce pressure on housing affordability in Australia, by encouraging empty nesters to downsize into housing that is more suitable to their needs, and so free up larger family homes.
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If you are 65 or older and meet the eligibility requirements, you may be able to choose to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home. Your downsizer contribution is not a non-concessional contribution and will not count towards your contributions caps. The downsizer contribution can still be made if an individual has a total super balance greater than $1.6 million. Please note, downsizer contributions are not tax deductible and will be taken into account for determining eligibility for the age pension.
ELIGIBILITY FOR THE DOWNSIZER MEASURE
• your home is in Australia and is not a caravan, houseboat or other mobile home • the amount you are contributing is from the proceeds of selling your home where the contract of sale was exchanged on or after 1 July 2018 • the proceeds (capital gain or loss) from the sale of the home are either exempt or partially exempt from capital gains tax (CGT) under the main residence exemption, or would be entitled to such an exemption if the home was a CGT rather than a pre-CGT (acquired before 20 September 1985) asset • you have provided your super fund with the downsizer contribution form either before or at the time of making your downsizer contribution
You will be eligible to make a downsizer contribution to super if you can answer yes to all of the following:
• you make your downsizer contribution within 90 days of receiving the proceeds of sale, which is usually the date of settlement
• you are 65 or older at the time you make a downsizer contribution (there is no maximum age limit)
• you have not previously made a downsizer contribution to your super from the sale of another home.
• your home was owned by you or your spouse for 10 years or more prior to the sale
For more detailed information, please refer to www.ato.gov.au
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QUARTER 1 2018
SUNNYBANK Address
8
SPEC Bed,Bath,Car
Land m2
Sold
DOM
Sale Price
3/57 Fairbank st
2,1,1
55
9/01/2018
88
$291,000
14/18 Altandi St
3,2,2
249
12/01/2018
130
$450,000
51 Keats St
3,1,0
607
26/03/2018
95
$460,999
19/48-68 Comley St
3,2,1
147
15/01/2018
123
$520,000
12 Halse St
4,2,4
615
21/03/2018
68
$531,888
24 Feltwell St
3,1,0
658
26/03/2018
160
$555,999
14 Feltwell St
3,1,2
658
5/02/2018
13
$560,000
6 Jedda Pl
4,2,2
450
26/03/2018
209
$619,999
51 Breton St
4,2,2
696
26/03/2018
116
$640,000
248 Turton St
2,1,1
721
14/02/2018
30
$650,000
63 Boonaree St
4,1,1
589
17/03/2018
33
$725,000
9 Halse St
5,3,2
536
14/01/2018
45
$753,000
26 Alconah St
4,2,3
696
26/03/2018
138
$750,999
DOM | Days on Market
QUARTER 1 2018
SUNNYBANK Address
SPEC Bed,Bath,Car
Land m2
Sold
DOM
Sale Price
122 Lister St
3,1,2
895
26/03/2018
180
$800,000
27 Lara St
5,3,2
622
24/03/2018
24
$854,000
41 Altandi St
4,2,4
405
17/02/2018
57
$865,000
8 Pictum Pl
3,2,2
610
8/02/2018
163
$880,000
30 Devenish St
4,2,3
741
29/03/2018
156
$888,888
65 Mains Rd
4,2,2
838
15/03/2018
34
$890,000
31 Maud St
4,3,2
1014
22/01/2018
90
$928,000
126 Turton St
4,2,2
642
3/03/2018
32
$950,000
88 Mains Rd
8,3,5
624
4/01/2018
86
$999,000
14 Littler St
4,2,2
1219
26/03/2018
49
$1,068,999
7 Romulus St
6,3,2
739
1/03/2018
110
$1,195,999
12 Turton St
3,4,1
1277
21/03/2018
51
$1,350,000
9 Information correct at time of print as sourced from RP Data and Pricefinder.
TEAM SPIRIT PLACE SUNNYBANK DISCUSSES ‘WHAT DRIVES OUR SENSE OF TEAM’ AWARDS NIGHT
AUCTION PLACE BASKETBALL TEAM
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JOINT LISTINGS
TEAM MEETING
CELEBRATORY DINNER With the Commonwealth games and Winter Olympics both happening this year, it dawned on us that PLACE is just like a sports team. In what way does a business that helps the community buy, sell, and manage property compare itself to some of our favourite sports teams, people, and moments? It’s actually simpler than you think, and can be explained by one word. Team. In individual and team sports there are the athletes, then there is the support network behind them. Everyone plays an important role, aims to be the best that they can be, and shares the same goal.
We practice what we preach and showcase this by the way we conduct our open homes. We communicate as a team to make sure our clients get maximum exposure to our products. Our unique auction process ensures our vendors have a stress-free and profitable experience. We work as a team in the office, in the field, and even on the basketball court on Sundays. What we offer at Place is a team to manage what is possibly your most important asset, and we do believe that we have the best team you will find in this industry. Here at Place we live and breathe team culture. It’s an uncommon comradery for many real estate agencies, but for us it’s second nature. 11
COMMUNITY NEWS
MARKET SQUARE
STAGE 1
STAGE 3
JUN 2017: Construction Start Date AUG 2016: Development Approved
STAGE 1
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Stage 1 of construction will generate an additional 3459 square metres of floor area across FOUR levels. Stage 1 plans have included 584 additional car spaces. Expected completion of this stage will be October 2018.
OCT 2018: Stage 1 Complete
STAGE 2 Stage 2 of construction will generate an additional 1630 square metres of floor area across TWO levels. Expected duration of stage 2 is from October 2018 to March 2019.
COMMUNITY NEWS
DEVELOPMENT
STAGE 2
THE FULL SCOPE OF WORK INCLUDES: •+ A 4-storey shopping centre and multi-deck carpark building.
MAR 2019: Stage 2 Complete NOV 2019: Stage 3 Complete
STAGE 3 Stage 3 of construction will generate an additional 3459 square metres of floor area across FOUR levels. Stage 3 plans have included 595 additional car spaces. Expected duration of this stage will be March 2019 to November 2019.
•+ A further retail level above an existing single level supermarket. •+ The development comprises of open plate carpark decks with fringe tenancies with uses including retail, food, banking and medical. •+ S pecial consideration is to be given to the existing shopping centre tenancies, which are expected to carry on trading with minimal disruption during construction works.
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It’s not just an auction it’s a
96
%
OF PROPERTIES SOLD VIA THE AUCTION PROCESS
PLACE AUCTION 61 Booked 13 Sold Prior to Auction 26 Sold at Auction 20 Sold after Auction 2 Withdrawn
PLACE SUNNBANK vs BRISBANE AUCTION CLEARANCE RATES PLACE SUNNYBANK BRISBANE AVERAGE
+17%
45 UNIQUE STEPS It is crucial to pick the right agent who has the experience and practical knowledge of Auction. Not every agent is the same, and the wrong choice of agent can cost you a lot of money, time and unnecessary stress.
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Place Sunnybank’s unique 45 step auction process and their ability to work as a seamless team, prior to and during the auction, has proven results. Place Sunnybank’s clearance rate is approx 17% higher than the Brisbane average. Disclaimer: All statistics used are current for 2017/2018. Brisbane statistics are based on current publicly available information.
Experience first hand our 45 Step Action plan that has achieved many great sale results for our clients!
DAVID YANG | Mortgage Specialist
Darren Han
Director BCom, JD(Bond), GradDipLP(Bond) Darren.h@fensonlawyers.com.au
m: 0450 088 688 t: 07 3194 0888 e: david@timehl.net.au Australian Credit Licence: 433589 We provide real choice between lenders
T 07 3323 3136 M +61 433 225 386 (AU) +86 188 997 367 25 (CN)
We do the legwork
Office: 1/18 Torbey St Sunnybank Hills
We help at a time & place that suits you
“I will always be striving to provide the most memorable conveyancing experience for all my clients�
BRENDAN YUNG CONTACT ME 7 DAYS T: 0404 526 526 E: brendan.yung@bytherules.com.au
We may negotiate a better outcome We keep the competition alive
Unit 2, 20 Creek Road Mount Gravatt, Queensland, Australia Call (07) 3113 3407 info@briolegal.com.au www.briolegal.com.au 15
Estelle Lin VERY ENERGETIC AND MOTIVATED AGENT! Estelle was always very personable and friendly, plus showed an exceptional knowledge of the market and how best to approach the sale of our house. Always great with communication & highly motivated to get us the best price. I would have no hesitation in recommending her to anyone in the future. – David, 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
ESTELLE LIN
OFFICE
Follow me on Facebook, Instagram and WeChat for updates happening in & around 4109
07 3193 8788 3a/531 Kessels Rd Macgregor Q 4109
0425 490 208 | estellelin@eplace.com.au