Market Overview Algester Winter Edition 2019

ALGESTER WINTER EDITION 2019

Market overview page 4

Federal election aftermath: positive prospects ahead page 6

Sales for the quarter page 8

The importance of a building & pest report page 10

The ideal season to sell page 12

Our business partners page 14

Property Report brought to you by your Algester area specialists

GONNIE NAHAR

JASON SONG

gnahar@eplace.com.au

jasonsong@eplace.com.au

0422 095 958

0433 572 868

Hello

friends & family It’s been a chilly winter and the team here at Place Sunnybank are all looking forward to the warmer weather as we welcome Spring in September! Is it just us, or does this year feel like it’s flown by quickly? We are excited for what is to come for the last half on 2019, and here’s why.

After a confusing and slow start to the year, anyone who follows real estate knows that the coming months and years are showing positive prospects.

With unchanged negative gearing and capital gains tax laws, the recent interest rate drop as well as many other positive forces, we have seen an immediate increase in buyer activity (more on this in page 6). We are excited and have confidence on a positive and brighter outlook for the property market.

As we have also just wrapped up the 18/19 financial year, we’d like to also take this opportunity to thank all our clients, buyers and landlords for choosing Place Sunnybank to represent you in real estate and look forward to work with each and everyone one of you again in the coming future.

We hope our market reports continue to keep you well informed on what is happening in your local suburb.

Do also feel free to call for a chat or suggest anything that you’d like to know more about. Thank you again for your ongoing support and feedback.

Enjoy this issue!

Your local specialist | Place Sunnybank

Algester | Calamvale | Carindale | Drewvale Eight Mile Plains | Kuraby | Macgregor | Mt Gravatt East Parkinson | Robertson | Rochedale | Rochedale South 2

Runcorn | Stretton | Sunnybank | Sunnybank Hills | Wishart

PLACE SUNNYBANK TEAM

Contents Page 4

Market overview

Page 5

Suburb statistics

Page 6

Federal election aftermath: Positive prospects for the real estate market

Page 8

Houses sold

Page 10

The importance of a Building & Pest Report

Page 12

Community news

Page 14

Our proud business partners

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.

3

Statistics

ALGESTER Quarter 2 2019

23

HOUSES SOLD

$585,000

67 days

$490,000

3.0%

17.4%

$350pw

HIGHEST SALE PRICE

2019 Q2 MEDIAN PRICE

5 YEAR GROWTH

4

AVERAGE DAYS ON MARKET

CHANGE IN MEDIAN PRICE

AVERAGE RENT FOR HOUSES

Market place overview The rain has eased, now watch for the property rainbow.

• Total 10 auctions, 2 sold before, 5 sold at auction and 2 sold soon after

Welcome to the new financial year and the approach of spring. The first half of the year has come and gone with elections decided and outcomes now more positive for the property market.

Together with buyer confidence is the consistent population increase for the area. A positive rate of net interstate migration plus overseas migration is a proxy for housing demand, which is also one of the better indicators that will assist the property market.

Prior to the election, there was a significant drop in open home attendees.

This was largely due to inactivity by investors, thus leading to 85-90% of attendees being owner occupiers.

In summary we at PLACE think that we are now moving towards recovery. Yet it is still critical to secure an agent who has the right strategies to approach a Post-election, the economy and property sale to achieve the best outcome. The market has been stimulated new and difference in money terms could mean proposed policy changes from the Federal a difference of tens of thousands of Government, The RBA, and APRA (more dollars in your pocket. on this on page 6). The stimulus has boosted consumer confidence and buyer If you are thinking about selling soon numbers. Investor have also rejoined or at a time in the future, today might the fray now there is more stability and be the day to get in touch with us for certainty with the market.

30 minutes of consultation, so that you know where you stand in this current The return of buyer activity indicates that market and what you can do to achieve buyers’ confidence levels are returning. In your dreams.

May, PLACE Sunnybank experienced a surge of interest from the market: Gonnie Nahar | 0422 095 958 Jason Song | 0433 572 868 • Sold Total Value of $13,637,315.

• 90% Auction success rate (Brisbane average 40%) 5

6

In the last 2 years, billions of dollars have been wiped from the Australian property market, but amongst the rubble Brisbane has held steady and defied the odds and influences of the downturn in Sydney and Melbourne. Year to date the Greater Brisbane median price has only fallen by -2.6%, while nationally it has fallen by -6.9% (-8.0% for combined capitals).

Recent data suggests that the downturn has been slowing since January, and that most of the improvements in the last 6 months have largely been organic. However, major events in the last few months have also helped inject some life into the property market, tipping the scale towards recovery.

POSITIVE FORCES FOR THE MARKET Federal election result and mortgage deposit scheme for first home buyers Federal government will guarantee 15% of the 20% mortgage deposit for 10,000 eligible first homebuyers.

Federal government tax cuts New tax packages will benefit Australians across the board and potentially help stimulate the economy and property market Interest rate reductions by Reserve Bank Interest rate at record low of 1.00% to help make home ownership more attainable and affordable.

SO, WHAT DOES THIS MEAN FOR YOU? With consumer confidence returning as a sign of stability and growth in the property market, current homeowners should start thinking about their next step. Whether it’s to upsize, downsize, upgrade, or relocate, knowing when and where you see yourself in the foreseeable future, and to consider how you want to achieve that next phase

Government infrastructure investment Federal, State, and Local government plans to invest heavily into construction jobs to upgrade infrastructure, and to stimulate the economy and job market to keep unemployment under 5% APRA relaxation of lending restrictions Borrowers will no longer be required to pass the 7% interest rate stress test and will only be assessed on their ability to repay their loans at 2.5% above their current rate.

Improvements in Auction clearance rates nationally (Capital Cities) Weighted average clearance rates have been above 60% for the 4th consecutive week. Currently at 68.9% up from 52.6% this time last year.

in your life becomes an important and complex decision.

As your Area Specialist, my job is to help you stay in tune with the market, and help you make the right decision at the right time. Call me anytime if you want the latest information regarding your market and your home.

7

QUARTER 2 2019

ALGESTER SPEC

Address

SOLD

8

DOM | Days on Market

Bed,Bath,Car

Land m2

Sold

DOM Sale Price

25 Flindosy St

3,1,1

593

15-Apr-19

10

$350,000

24 Booyong St

3,1,1

582

18-May-19

34

$366,000

11 Hillianna St

3,2,2

569

19-Jun-19

69

$415,000

15 Isdell St

3,1,1

660

26-Jun-19

27

$430,000

84 Ridgewood Rd

3,1,2

551

29-May-19

52

$440,000

40 Quintinia St

3,2,2

617

21-May-19

125

$445,000

69 Tingiringi St

3,1,2

676

03-Apr-19

8

$465,000

117 Silkwood St

3,1,1

589

14-Jun-19

38

$470,650

11 Collina St

3,2,2

601

18-Jun-19

27

$473,000

10 Owenia St

4,1,4

680

07-Jun-19

283

$477,500

9 Collina St

3,1,1

601

12-Jun-19

91

$487,000

6 Cooloon Pl

3,2,2

569

10-Apr-19

58

$490,000

1 SATINWOOD STREET, ALGESTER

$572,000

LAND SIZE

559m2

TOP DOUBLE STOREY SALE

DOM

172

3

SALE DATE

18 APR 19

3

2

QUARTER 2 2019

ALGESTER SPEC

Address

SOLD

Bed,Bath,Car

Land m2

Sold

DOM Sale Price

10 Pellita St

3,1,2

756

08-May-19

30

$495,000

82 Dalmeny St

4,2,2

549

25-Jun-19

32

$510,888

34 Isdell St

3,1,2

600

03-Apr-19

21

$525,000

3 Mt Moogerah Dr

4,2,2

500

01-May-19

29

$525,000

403 Algester Rd

4,2,2

636

23-Apr-19

7

$540,000

18 Yorrell St

4,2,2

613

01-Jun-19

5

$540,000

62 Tingiringi St

5,2,4

653

14-Jun-19

61

$545,000

4 Taeda Pl

3,2,6

822

30-Apr-19

240

$560,000

5 Wilkiea Pl

4,2,2

991

25-Apr-19

53

$566,000

1 Satinwood St

3,3,2

559

18-Apr-19

172

$572,000

17 Mt D'Aguilar Cres 4,2,2

605

14-Apr-19

62

$585,000

17 MOUNT D’AGUILAR CRES, ALGESTER

$585,000

2019 QUARTER 2 TOP SALE

4

2

2

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

LAND SIZE

605m2

DOM

62

SALE DATE

14 APR 19

9

BUILDING & PEST INSPECTION REPORTS are beneficial for both buyers and sellers however most people think that only buyers organize these inspections after buying the property.

There is a big advantage for sellers getting their own independent building & pest inspection report prior to launching on the market.

One of the main reasons for getting the report done prior to any potential buyers inspecting your property is that if there are any major structural or pest issues as the owner you will be the first to find out and will be able to rectify this ahead of time.

Should these problems be found later down the track it could highly likely damage the negotiation process of getting the best price possible for your property.

If there are no issues found, both buyers and sellers have the peace of mind that they can move forward making the transaction happen smoothly without any worries and stress.

10

THE IMPORTANCE OF A BUILDING & PEST REPORT WHEN PREPARING YOUR HOME FOR SALE FOREWARNED IS FOREARMED Even though your property may appear to be structurally sound and there is no visible indication that termites, subsidence or mould is present, there could be hidden problems lurking in the foundations, roof, plumbing or walls that only a professional can identify.

Many people are worried that building and pest inspectors may uncover some terrible truths about their property. For many, this concern stops them from having an inspection. But is that logical? If something is wrong with your property wouldn’t it be better to know before you put the house on the market?

Being forewarned is forearmed and puts the power in your hands. Being aware of any issues with your property allows you to take control and have them fixed and doesn’t erode your position when you put your house on the market.

A BUILDING AND PEST INSPECTION REPORT EMPOWERS YOU While many buyers will still insist on having their own pre-purchase building and pest inspections conducted, showing them the reports you’ve had prepared shows them you have nothing to hide about the condition of your property and gives them less ammunition to negotiate.

At the end of the day, building and pest inspections aren’t deal breakers. And it’s what we find out right now before the investment of marketing and Inspections and agent’s performance fees that will protect your sale price and final profit.

The report will cost less than $500 yet could be the vital knowledge in a negotiation that saves your sale and protects your profits.

11

THINKING OF SELLING IN THE SPRING RUSH? Here is another option.

Spring is always a popular time of the year to sell in Queensland. The basic premise is that gardens looking spectacular, and a larger pool of home buyers getting out and about.However, you won’t be the only homeowner with the same idea. Selling your home in spring comes with extra competition.

Winter, while traditionally overlooked, does actually have some benefits for sellers. Gain the advantage with less properties for buyers to choose from and those buyers actively looking are usually quite motivated and only have limited choice.

Winter homes can be decorated with heavier fabrics, adorned with crackling fires, and perfumed with home baking.

The focus should be on feeling warm and comfy, use all the senses to make your home more inviting.

SEASON STATISTICS Property giant, realestate.com.au has stats on the number of homes that sell in Brisbane’s four seasons, and it is not hard to find out the advantage in marketing your home during the “traditionally quiet period” – Winter.

74%

DURING WINTER

69.8%

DURING AUTUMN

61.8%

DURING SPRING

61.1%

DURING SUMMER

Want to find out more what you need to know before selling? Contact me for 30 minutes obligation free consultation, it will be one of the best investments you make.

Call Gonnie 0422 095 958 and Jason 0433 572 868 today.

12

Source: realestate.com.au; domain.com.au; racq.com.au

FUN FACT #1

THE COPY MACHINE STUDY 1977, PSYCHOLOGIST ELLEN LANGER AND TEAM, HARVARD UNIVERSITY This is how the research study worked…

A researcher would spot someone waiting at the library copy machine and walk over with the intention of cutting the person in line. Then, the researcher would look at the innocent bystander and ask them one of three questions.

VERSION 1 Request Only

“Excuse me, I have 5 pages.

May I use the Xerox machine?”

VERSION 2

VERSION 3

“Excuse me, I have 5 pages.

May I use the xerox machine, because I’m in a rush?”

“Excuse me, I have 5 pages.

May I use the xerox machine, because I have to make copies?”

Request With A Real Reason

Request With A Fake Reason

You’ll notice that Version 3 didn’t make much sense. Using the phrase “because I have to make copies” was a fairly useless reason for skipping the line. Everyone waiting at the photocopier needed to make copies. The phrase contained no new information, but the researcher was trying to use it to justify the favor anyway.

Surprisingly, this senseless reason performed well. When the researchers analyzed the data, they found the following.

60%

of people let the researcher skip the line.

94%

of people let the researcher skip ahead in line.

93%

of people let the researcher skip ahead in line.

Langer’s research, which soon became known as The Copy Machine study, was published in the Journal of Personality and Social Psychology.

The study became famous because it uncovered one of the most powerful words we use to drive our behavior: because. Langer’s work proved that as long as we could justify a behavior in our brains (“I’m doing this because…”), we would perform the behavior even if the reason didn’t make sense.

In his best-selling book, Influence, Robert Cialdini explained this phenomenon by saying, “A well-known principle of human behavior says that when we ask someone to do us a favor we will be more successful if we provide a reason. People simply like to have reasons for what they do.”

By Jame Clear

https://jamesclear.com/

13

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TEL: 0419 768 432 peter@peterpansservices.com.au

We do the legwork We may negotiate a better outcome We keep the competition alive We help at a time & place that suits you

++ Quality homes ++ Real choice inclusions ++ Guaranteed start & completion dates

ANSON XU

++ One true price promise

0431 223 000 | anson@madisonhomesqld.com.au

++ Deal directly with the builder

www.madisonhomesqld.com.au

SHOWROOM Unit 3/115 Russell Street, Cleveland QLD

++ Clear and transparent building process ++ Specialising on narrow blocks (10m wide frontage)

What Landlords should be looking for in a Property Management team?

• Updated market knowledge, including industry and legal compliance knowledge, appropriate trust accounting and property investment knowledge • Strength in marketing and leasing properties at the best possible price • Prompt communication response • Investing in advanced technology in providing the ultimate convenience to landlords and tenants • A thorough process for tenant selection and rent management • Solution based advice • Completion of inspections, lease renewals and maintenance on time • Low rent arrears and tenancy dispute rate • Regular training to keep the team updated with the most recent legislation, regarding tenancies to minimise risk

Our excellent achievements based on year to date statistics: Rent arrears rate over 14 days ZERO Loss of management due to poor service ZERO Current dispute lodged with QCAT ZERO

What our clients say...

“The Place Sunnybank team are highly professional and have been amazing to work with in the handover of my property. My property has been managed by Place for the past 2 years and I would highly recommend their services to other landlords. They are efficient, friendly, provide great support and communicate promptly regarding any issues which is good for the tenant as well as the landlord.”

Happy Landlord, Jiaqi

Speak to our friendly team to enquire about our property management services.

07 3193 8788 (Chinese & English) sunnybankrentals@eplace.com.au

15

GREAT AGENT! Gonnie sold our property even though the market was not good. When asked if he was going to manage the sale considering there were lots of other properties for sale in the area, he was always confident and we would be not be disappointed. He has since delivered, thank you Gonnie so much.

Gonnie Nahar

- Jay, a review from ratemyagent.com.au

AWESOME AGENT! We are glad to have Jason to help us to sell the property. He is very proactive, responsive and very helpful in all aspect to achieve and close the deal with the buyer. His strategy and approach were excellent and we wouldn’t be able to achieve the sales price without him.

Greatly appreciated with his assistance and we will definitely refer him to our friends and family.

- Jackyln, a review from ratemyagent.com.au

OVER

$100m Total Sales in 12 Months

Jason Song

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

GONNIE NAHAR

OFFICE

JASON SONG

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

0422 095 958 | gnahar@eplace.com.au 0433 572 868 | jasonsong@eplace.com.au