Market Overview Eight Mile Plains Q1 2018

Eight Mile Plains 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 Eight Mile Plains area specialist

George Yang 楊華

0488 199 888 georgeyang@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

Eight Mile Plains QUARTER 1 2018

22 $885,000

48 days

$750,000

-5.2%

40.4%

$475pw

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 There’s no doubt it’s been a quieter start to 2018 as far as the property market goes. In comparison to the same quarter last year (2017 First Quarter), it is quite evident that the property market in Eight Mile Plains is going through a transition phase, much like the overall markets in Brisbane, Sydney and Melbourne.

When you look at the statistics, the number of sales in the area has dropped in this first quarter (recorded sales: 22 this first quarter of 2018 compared to 35 in the same quarter of 2017). Due to the lower number of sales and the lack of sales in the $1m+ price bracket this year so far, it has also brought back the median price from $791,000 to $750,000. Despite this ‘balanced stage’ in the market, it is worth noting that the low supply of properties in the area for buyers has also increased competition between buyers resulting in a number of sales in the Q1 of 2018 pushing far beyond market expectations.

Here are some possible reasons why the market is balancing out: 1. The general market has had more difficulty obtaining home loans as the banks have increased the criteria of their risk assessments on all applications. This is possibly due to the banks trying to protect their own interests and regulate the property market in Sydney and Melbourne, creating a ripple effect on the Brisbane market, being a nationwide policy.

2. The Chinese Government has imposed strict transaction limitations to foreign countries as they try to protect their own economy. The maximum limit of US$50,000 dollars was imposed since last year as the Chinese Government tries to further tighten control and prevent capital flight.

3. Uncertainty of the interest rates could be another contributing factor.

Despite the record low rates at the moment, talks of the Reserve Bank of Australia to increase the interest rates in the near future will have further impacts on our property market.

George Yang 0488 199 888

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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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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.

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QUARTER 1 2018

EIGHT MILE PLAINS SPEC

Address

Bed,Bath,Car

Land m2

Sold

DOM

Sale Price

67 Liverpool St

3,1,2

458

29 Jan 18

27

$500,000

76 London St

4,3,1

607

24 Mar 18

109

$526,000

7 Heathfield St

3,1,2

717

23 Feb 18

23

$550,000

87 Nardie St

4,2,2

616

03 Feb 18

26

$640,000

5 Tewoo Pl

3,1,2

862

24 Mar 18

29

$648,500

1 Chancery St

4,1,1

617

19 Mar 18

26

$663,000

3,1,2

644

01 Mar 18

13

$710,000

60 Bolinda St

3,2,2

637

30 Jan 18

96

$720,000

31 Vanderbilt St

4,2,2

639

09 Mar 18

16

$745,000

30 Bolinda St

4,2,2

707

18 Jan 18

0

$765,000

36 Boorala Cr

5,2,2

634

13 Mar 18

53

$800,000

19 Mapleleaf St

4,3,2

616

18 Feb 18

20

$805,000

53 Bolinda St

7,3,2

667

20 Jan 18

93

$850,000

22 Petrina St

4,2,2

735

15 Feb 18

31

$864,500

9 Langford St

5,2,2

554

22 Feb 18

42

$885,000

Sold By

Sold By

5 Gagarra St Sold By

Sold By

Sold By

8 DOM | Days on Market

QUARTER 1 2018

EIGHT MILE PLAINS Other First Quarter Sales – Price Undisclosed SPEC

Address

SOLD

SOLD

Bed,Bath,Car

Land m2

Sold

DOM

Sale Price

274 Padstow Rd

3,2,2

4047

23 Mar 18

58

N/A

138 Padstow Rd

4,2,2

4008

01 Mar 18

25

N/A

24 Dance Cr

4,4,2

3173

05 Mar 18

47

N/A

313 Warrigal Rd

3,2,2

807

14 Mar 18

111

N/A

21 Tapioca St

4,2,2

593

27 Mar 18

69

N/A

6 Nardie St

3,1,2

651

28 Mar 18

72

N/A

16 Yvonne Rd

4,2,2

450

22 Mar 18

56

N/A

22 PETRINA STREET, EIGHT MILE PLAINS

$864,500

LAND SIZE

735m2

TOP LOW SET SALE

DOM

31

4

SALE DATE

15 FEB 18

2

2

9 LANGFORD STREET, EIGHT MILE PLAINS

$885,000

LAND SIZE

554m2

TOP DOUBLE STOREY SALE

DOM

42

5

SALE DATE

22 FEB 18

2

2

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

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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

George Yang HIGHLY RECOMMENDED We are extremely pleased to have used George as our agent. From our first meeting George had a clear strategy for the sale of our property. George is professional, hardworking and efficient. We felt George was committed and focused on achieving the best outcome possible for us. George has detailed knowledge of the local market and was always contactable, willing to go above and beyond our expectations. We were impressed by the high quality and attention to detail of the marketing material provided by George and the Place team. We couldn’t be happier with the excellent result that George achieved. Kevin & Corinne – Review from Sellers, Eight Mile Plains

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

GEORGE YANG 楊華

0488 199 888 | georgeyang@eplace.com.au Follow me on Facebook, Instagram and WeChat for updates happening in & around 4113

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