Market Overview Drewvale Winter Edition 2019

DREWVALE 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

Community news page 12

Our business partners page 14

Property Report brought to you by your Drewvale area specialist

CINDY KUANG 0435 717 686

cindykuang@eplace.com.au

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.

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Statistics

DREWVALE Quarter 2 2019

7 houses

61 days

SOLD DURING Q2 2019

AVERAGE DAYS ON MARKET 2019 Q2

$725,000

12.3%

$641,627

$450pw

HIGHEST SALE PRICE

2019 Q2 MEDIAN PRICE

4

CHANGE IN MEDIAN PRICE

AVERAGE RENT FOR HOUSES

Market place overview Drewvale Market – Place Observation:

APRA have removed the speed limit on investor lending growth, the cap on There was no doubt a sigh of relief interest-only loans and the 7.5% stress echoed through the real estate world when the election was done and dusted. test on home loans As mentioned in my last report, any year The Federal Government has cut with a looming election always puts the income taxes, made no changes to brakes in the real estate market as both negative gearing and will be giving first home buyers a chance to buy with a 5% buyers and sellers eagerly wait to see deposit at the end of the year what impact it has.

In Drewvale, with 7 properties sold in the 2nd quarter so far and the median price is about $640,000 with the highest sold price $725,000 and the lowest sold price $501,388. In past few months have also seen properties sell for a lot faster, with the average days on market (DOM) shortened from 104 to 61 days which is certainly positive news for anyone that is looking to make that move.

In May, Place Sunnybank experienced a big rush from the market and sold properties with total value of $13,637,315. Total 10 auctions, 2 sold before auction, 5 sold at auction and 2 sold right after auction with 90% list to sale ratio.

The rain is eased, enjoy the rainbow.

A relief from the property market after the election. Federal Government and the RBA are all re-applying stimulus to the property market. Here is the state of play so far:

The RBA has cut interest rates twice and there may be further cuts Globally, interest rates are trending down again – this puts less pressure on wholesale rates and hence our mortgages.

Another big factor is the consistent population increase. A positive rate of net interstate migration plus overseas migration is a proxy for housing demand, which is also a big factor that will assist property market. Throughout 2018, the population increased by approximately 89,905 (35,039 Overseas Migration; 23,796 Interstate Migration; 31,070 Natural Increase).

Want to find out the more what Place Sunnybank can do for you? Call Cindy Kuang today.

0435 717 686 cindykuang@eplace.com.au 5

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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.

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QUARTER 2 2019

DREWVALE

53 Lockyer Place

23 Randwick Place

4 Bed | 2 Bath | 2 Car

4 Bed | 2 Bath | 2 Car

LAND SIZE

451m2

DOM

52

SALE DATE

11 APR 19

SOLD: $501,388

704m2

DOM

71

SALE DATE

1 JUL 19

SOLD: $590,000

29 Caley Crescent

12 Billa Close

4 Bed | 2 Bath | 2 Car

4 Bed | 2 Bath | 2 Car

LAND SIZE

701m2

DOM SALE DATE 8

LAND SIZE

39 5 MAY 19

SOLD: $605,000 DOM | Days on Market

LAND SIZE

700m2

DOM SALE DATE

120 29 MAR 19

SOLD: $650,000

QUARTER 2 2019

DREWVALE

29 Tamarisk Way

34 Lapford Circuit

5 Bed | 2 Bath | 2 Car

4 Bed | 3 Bath | 2 Car

LAND SIZE

784m2

DOM SALE DATE

74 24 JUN 19

SOLD: $695,000

LAND SIZE DOM SALE DATE

30 8 JUN 19

SOLD: $725,000

34 Habitat Place Drewvale

LAND SIZE

5 Bed | 4 Bath | 2 Car Drewvale 2019 Q2 Top Sale

DOM SALE DATE

SOLD: $725,000 Information correct at time of print as sourced from RP Data and Pricefinder.

891m2

720m2 44 15 MAR 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.

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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.

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COMMUNITY NEWS

PREPARE TO BE AMAZED

THE EKKA RETURNS! The Royal Queensland Show (Ekka) is Queensland’s largest and most loved annual event, attracting on average 400,000 people, taking place from the 9th until the 15th of August.

vegetables, 10,000 animals, world-class live entertainment, award-winning food and wine, carnival rides and showbags, family shopping, educational activities and much more.

Run by the RNA for 10 days in August and staged at its original birthplace, the Brisbane Showgrounds, the Ekka brings the country and city together for a true celebration of agriculture.

The iconic show has been running since 1876 and is full of traditions, a unique atmosphere and childhood memories which have been passed down through generations of families.

The Ekka showcases the best of Queensland, attracting more than 21,000 competition entries from woodchop to giant

Visit the official website: www.ekka.com.au for more information.

TOP 5 THINGS TO DO AT THE

STRAWBERRY SUNDAE

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Another tradition is to get the delicious Strawberry Sundae. Take a photo and upload it on your Instagram #ekkastrawberrysundae.

Visit them

at:

CARNIVAL RIDES

EKKA SHOW BAGS

From something easy like the Bella Vista Ferris Wheel or the Crazy Spinning Coaster the EKKA has got you covered!

A trip to the EKKA wouldn’t be complete without getting those Show Bags! Kids love it and the parents secretly love it too!

SEEING THE ANIMALS

WATCHING FIREWORKS

One of my personal favourites – from watching the canine shows to playing with farm animals this one is popular for the whole family!

12/258 Warrigal Road, Runcorn

After getting through everything, it’s time to sit down, enjoy and watch the evening fireworks with the family to wrap things up.

QLD 4113

COMMUNITY NEWS

EVENTS & DATES BRISBANE ART DESIGN EXHIBITION Brisbane Art Design has taken over Museum of Brisbane with a multi-dimensional exhibition showcasing both established and emerging artists and designers of Brisbane. BAD will celebrate the junctures between art, design and technology.

WHERE: Museum of Brisbane WHEN: 10:00am to 5:00pm daily until 11 August 2019

2019 AVIATION EXPO The Aviatio Expo returns to offer the ultimate aviation showcase, development, careers and employment opportunities. Once again featuring a range of iconic aircraft visitors will get to see up close and perhaps even go onboard.

WHERE: 15-25 Boronia Rd, Brisbane Airport QLD WHEN: 10:00am to 4:00pm, 17 August 2019

JAMES TURRELL’S NIGHT LIFE See the GOMA in a new light. James Turrell’s permanent architectural light installation Night Life illuminates the Gallery of Modern Art from within. A decade after the opening of GOMA, this dynamic work realises the architects’ vision of animating the building’s facade at night WHERE: Gallery of Modern Art, South Brisbane QLD WHEN: 1 August 2018 – 21 December 2019

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OUR BUSINESS

PARTNERS

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

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INTERLEC ELECTRICAL SERVICES Friendly, affordable, quality work, including: • Solar • Air Conditioning

• Domestic Electrical • Commercial Electrical

No job too big, or too small. Call today for a free quote!

ROWAN GOMERSALL 0466 556 489 interlecelectricalservices@outlook.com

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

We provide real choice between lenders

HANDY MAN JOBS “NO JOB IS TOO BIG OR SMALL” Lawn Mowing Hedging & Pruning Rubbish Removal Gutter Cleans Tree Lopping All Property Improvements

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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

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Cindy Kuang Friendly, honest and hardworking, Cindy’s dedication to real estate is clearly demonstrated in her attention to detail. Her extensive career in sales gives her an advantage over the multicultural real estate markets in Brisbane, as does her fluency in Mandarin, Cantonese and English.

Cindy always keeps her clients’ best interests as her top priority, and that’s what ensures they always secure the best result.

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

CINDY KUANG

0435 717 686 | cindykuang@eplace.com.au

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