MOUNT GRAVATT EAST 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 Mt Gravatt East area specialist
STAN EGAWA 0466 999 300 stanegawa@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
MT GRAVATT EAST Quarter 2 2019
26
HOUSES SOLD
$930,000
69 days
$638,500
-5.72%
2019 Q2 MEDIAN PRICE ($685,000 in 2019 Q1)
CHANGE IN MEDIAN PRICE (Median in Q2 2018 $673,000)
28.1%
$450pw
HIGHEST SALE PRICE
5 YEAR GROWTH
4
AVERAGE DAYS ON MARKET
AVERAGE RENT FOR HOUSES
Market place overview This quarter had been one of the slowest quarter for many suburbs in Brisbane mainly because of the impact and uncertainty from the election. Similar in Mount Gravatt East it was more on the slow side as you can see from the stats. The median sale price had been low at $630,000 where it was $675,000 in Q1. The average days on the market had been the longest sitting at 69 days which has never been this long for a very long time. Moreover, you can see from the sale dates that 50% of the sales happened well within the first half of the quarter. However, the number of sales that happened in this quarter has not been the that low considering that the suburb generate around 25-28 sales on average per one quarter. Now that election is over and the banks lowering the interest rates down twice in such short time we think that this will be a big incentive for buyers to buy homes now than later as they can possibly save truck loads of money. Buyers we meet today still argues that it is a buyer’s market where the sellers are needing to compromise on their prices significantly to sell their homes but the results we see and generating is telling us that with the right strategy, along with the work of the
right agent properties will sell for great prices still breaking street and suburb records. In summary we think that we are now at the end of the dark tunnel and moving toward recovery. Although, we are not in a market where buyers are just wanting to throw money at the sellers. It is still critical to get an agent who has the right strategy and tactic to approach the sale to get the best outcome as this can possibly mean you keep an extra $50,000 in your pocket or give it up to the buyers buying your home. It is now than ever crucial to choose the right agent as buyers are now loaded with the sales statistics with improvement of technology and they are no longer relying on the agent to tell them what they should pay for your house. If you are thinking about selling soon or in the distant future and if you have not spoken to an agent you can trust, today might be a the day to get in touch with me so you know where your home sit in this current market as it is and what you can do to get into the next price bracket above. Call me today I would love to help. Stan Egawa | 0466 999 300
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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
MOUNT GRAVATT EAST Bed,Bath,Car
Land m2
DOM
SOLD
Sale Price
7 Tantallon St
4,1,1
607
36
2-Apr-19
$503,500
11 Floral St
3,1,1
647
37
4-Apr-19
$567,000
43 Selborne St
3,1,1
607
224
4-Apr-19
$580,000
109 Crewe St
4,1,2
593
69
4-Apr-19
$630,000
84 Cortis St
4,2,4
373
42
4-Apr-19
$755,000
20 Ballarat St
4,2,2
972
29
6-Apr-19
$906,000
37 Grenfell St
4,2,3
810
7
8-Apr-19
$895,000
83 Hoff St
4,2,2
405
21
10-Apr-19
$725,000
11 Wardle St
3,1,2
647
18
14-Apr-19
$570,000
43 Invermore St
3,2,2
415
48
15-Apr-19
$570,000
64 Crewe St
5,3,2
1,107
21
16-Apr-19
$802,000
46 Ballarat St
3,2,1
486
29
17-Apr-19
$647,000
71 Crewe St
4,2,2
580
1
30-Apr-19
$740,000
Address
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DOM | Days on Market
SPEC
QUARTER 2 2019
MOUNT GRAVATT EAST Bed,Bath,Car
Land m2
DOM
SOLD
Sale Price
80 Gatton St
4,1,1
405
43
11-May-19
$630,000
25 Dorien St
5,3,2
426
337
21-May-19
$655,000
77 Hoff St
4,3,1
405
60
27-May-19
$602,500
25 Styphelia St
5,2,3
770
231
27-May-19
$900,000
35 Wardle St
3,1,3
647
45
31-May-19
$668,500
54A Hathaway St
3,2,2
486
23
7-Jun-19
$600,000
69 Margate St
5,4,2
477
190
7-Jun-19
$860,000
18 Hathaway St
4,2,2
486
19
8-Jun-19
$930,000
51 Margate St
2,1,1
627
34
11-Jun-19
$530,000
18 Clausen St
3,1,1
604
110
17-Jun-19
$570,000
67 Gilliver St
4,1,1
663
28
19-Jun-19
$538,000
53 Camlet St
3,1,0
647
47
19-Jun-19
$539,500
190 Margate St
4,2,2
632
45
25-Jun-19
$690,000
Address
SPEC
9 Disclaimer: Both top sales are based on recorded data only. Information correct at time of print as sourced from RP Data and Pricefinder.
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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WHEN IS THE BEST TIME TO SELL YOUR HOME? Many of us believe that the Spring is the best season to sell and you might be one of them who is reading this article who is thinking to list your property on the market to sell around September, October this year when the leaves are greener, and flowers are flourishing.
But, is it really true that Spring is the best time to sell? As the area specialist in Mount Gravatt East I would say “Houses that are listed in spring is not necessary selling better or getting a higher price”. However, because of the myth it is true that we see more properties come to market around spring. More stock on the market means there are more properties that buyers can choose from and which means the buyers’ attention is likely to be drawn away to other properties that are up for sale. Moreover, when there are more properties up for sale that means there are more sellers who have different expectations of what they would like to sell for, how soon they want it sold and the reason why they are selling.
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What can this mean to you who is wanting to sell your house for the maximum price possible? What would the buyers be like if they saw a house close by that was about the same or even better asking for less price because they are in desperate need to sell? Having more stock on the market for sale basically means you will have more competition your home is up against and that buyer who is cashed up, missed out on a few homes already and in desperate need
to buy now will not often buy 3 but only 1 house. If there is a property that is offering a better value proposition than yours most likely that buyer will go to buy your competition rather than your home. So, when is a good time to sell in Mount Gravatt East? My answer to this is whenever before the expected sale season. I always recommend my vendors to aim to list around July, August to beat your competitors to the market or November just before people go on Christmas holidays as we see many buyers who wants to secure a home before they go on holidays in midDecember. Also, just after summer around April and May is a good time too when it’s not too hot. This may differ in other suburbs but in Mount Gravatt East because of its central location and the popular schools’ catchments we have we don’t really have a significant increase or drop in the number of buyers we meet through out the year! If you are thinking to list your home this year feel free to call me today and I would love to sit down and discuss how I can help you achieve your real estate dream! Stan Egawa | 0466 999 300
STAN’S SECRET RECIPE
SALMON ALFOIL BAKE Chan Chan Yaki INGREDIENTS – 2 x A4 size Aluminium foil (alfoil) 2 Salmon fillets ½ Onion ½ Carrot 3 leaves of Cabbage 150-200g of Enoki Mushroom Salt and pepper 10g Butter
MISO SAUCE – 3 Table Spoon of Miso Paste (available at coles or woolworths) 1 Tea spoon of Sugar 1 ½ Table Spoon of Mirin seasoning (available at coles or woolworths)
STEPS – 1. Wash all the veggies and chop cabbage into bite size square pieces, Thinly slice onion, julienne the carrots and cut the root off the enoki mushroom and loosen it into smaller portions. 2. Mix the miso sauce in a separate bowl and rub salt and pepper on the salmon fillets. 3. On each alfoil put about half of the veggies that you prepared, dip the salmon fillets well in the miso sauce and place it onto of the veggies and put 5g of butter each on the salmon and close the alfoil so its sealed. 4. On a frying pan or a wok (with a lid) place the 2 alfoil wraps and pour about 1-2cm of water and put the lid on and steam bake for around 20-25min. 5. Open and check if the salmon is fully cooked then mix the salmon up with the veggies underneath and ready to be served! Best served with short grain white rice. 13
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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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Stan Egawa HONEST & GENUINE AGENT Stan was a champ. We chose Stan initially based on his marketing that came through our letterbox and we weren’t disappointed. He was honest and supportive and knew the market inside out. We knew his strengths and he provided excellent advice. He was always available any day and worked closely with us and his team to get us the best result. We will always be grateful, thank you Stan. - Amy from Mount Gravatt East
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
STAN EGAWA
0466 999 300 | stanegawa@eplace.com.au @ stanegawarealestate Follow me on Facebook and WeChat for updates happening in & around 4122