Market Overview Sunnybank Hills Winter Edition 2019

SUNNYBANK HILLS 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 Sunnybank Hills area specialists

OWEN CHEN

STUART COLLINS

owenchen@eplace.com.au

stuartcollins@eplace.com.au

0413 081 780

0488 883 938

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

SUNNYBANK HILLS Quarter 2 2019

42

HOUSES SOLD

$1,300,000

86 days

$654,400

-0.2%

16.7%

$450pw

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 Welcome to the new financial year and the middle of winter. The first half of the year has come and gone and what an interesting year it has been so far. Election campaigning was in full swing. The final report for the Royal Commission in the Banking, Superannuation and Financial Services Industry was presented in Parliament.

Interest rates were dropped a few times.

The Coalition returned to power with a majority government. And an Australian is World Number One in Women’s Tennis.

In Sunnybank Hills, the second quarter has seen close to double the activity of the first quarter: • Number of houses sold this quarter was 42, as compared to 28 in the previous quarter • Median price has dipped marginally from $655,000 to $654,000 (-0.2% change) • Five-year growth for Sunnybank Hills is at 16.7%, above the Greater Brisbane average of 16.2%

year of adjusting to all the changes recommended by the royal commission.

Lower interest rates, lighter restrictions by regulators and the resilient Brisbane market has also given buyers confidence to buy in the Sunnybank Hills, while strong prices in the area have helped assure homeowners that their assets have not lost value like they have in Sydney and Melbourne.

The steady prices all over Brisbane means that now may be the best time for you to upsize, downsize, or change suburb without worrying about not getting the best value for your home as Sunnybank Hills and the southside in general has grown significantly more than most of Brisbane.

If you need the latest about the Sunnybank Hills market, or want an opinion for your property, don’t hesitate to contact me.

Call me on 0413 081 780 or email me at owenchen@eplace.com.au to make an enquiry.

Owen Chen | Area Specialist

The return of buyer activity has been largely been driven by lenders opening their doors to borrowers again after a 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

SUNNYBANK HILLS Address

8

SPEC Bed,Bath,Car

Land m2

Sold

DOM

Sale Price

4 Commordore St

4,1,1

800

4-Apr-19

57

$620,000

34/12 Grandchester St

3,2,1

181

5-Apr-19

21

$320,000

63 Terowi St

4,2,2

608

7-Apr-19

68

$650,288

17 Hilas Circuit

3,2,2

452

15-Apr-19

75

$690,000

117 Rhyhill Rd

3,1,2

405

17-Apr-19

78

$425,000

2 Sericea St

4,2,2

667

18-Apr-19

30

$672,000

19 Pineneedle Pl

4,3,2

770

18-Apr-19

45

$685,000

194 Calam Rd

5,2,1

624

27-Apr-19

25

$701,000

5 Adios Cl

5,3,4

846

7-May-19

83

$1,300,000

6 Bonyi St

5,2,2

735

8-May-19

23

$680,500

24 Evander St

4,2,2

601

9-May-19

45

$672,000

12/25 Lang St

3,2,1

208

10-May-19

318

$305,000

17 Cranfield St

3,2,4

630

11-May-19

26

$665,000

104 Garro St

4,3,2

667

15-May-19

8

$774,000

16 Bradman St

3,1,1

617

17-May-19

43

$400,000

26 Lang St

4,1,6

1,564

17-May-19

32

$805,000

3 Pineneedle Pl

5,2,2

717

21-May-19

51

$665,000

10 Alabaster Pl

5,4,2

683

22-May-19

65

$850,000

3 Jackson Rd

2,1,2

809

28-May-19

143

$450,000

21/25 Lang St

3,2,1

204

5-Jun-19

219

$328,000

24/196 Hellawell Rd

3,2,1

193

5-Jun-19

49

$390,000

DOM | Days on Market

QUARTER 2 2019

SUNNYBANK HILLS Address

SPEC Bed,Bath,Car

Land m2

Sold

DOM

Sale Price

27 Tallowood Way

4,2,2

461

7-Jun-19

3

$580,000

5 Netting St

4,1,1

584

7-Jun-19

22

$620,000

85 Park Avenue

5,2,2

1,053

7-Jun-19

367

$830,000

24/8 Charnwood St

3,2,1

136

11-Jun-19

64

$372,000

9 Evander St

3,1,2

683

11-Jun-19

181

$599,999

25 Ceratonia St

3,2,2

592

12-Jun-19

92

$550,500

15 Flinstone St

4,3,2

604

15-Jun-19

26

$690,000

26 Alphitonia Cres

5,2,2

808

15-Jun-19

281

$790,000

44 Honeywood St

3,1,2

634

16-Jun-19

27

$615,000

32 Hilas Circuit

5,3,2

450

18-Jun-19

238

$732,000

20/22 Farne St

1,1,

39

19-Jun-19

21

$128,000

61 Wynne St

4,3,2

607

20-Jun-19

92

$615,000

8 Lang St

4,2,4

645

20-Jun-19

87

$638,000

96 Morden Rd

3,1,2

405

21-Jun-19

147

$394,000

10/76 Symons Rd

4,2,2

353

25-Jun-19

151

$423,500

20 Cranfield St

3,2,1

665

26-Jun-19

127

$499,999

25 Tallowood Way

4,2,2

509

26-Jun-19

58

$625,000

7 Lamonia Cct

5,3,2

808

27-Jun-19

518

$920,000

7/20 Hellawell Rd

3,1,2

190

28-Jun-19

84

$330,000

18 Cranfield St

3,1,2

665

28-Jun-19

107

$565,000

21 Cherrywood St

4,2,2

694

28-Jun-19

79

$615,000

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

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

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

12

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

LOCAL BUSINESS INTERVIEW La Casa Patisserie is the brainchild of owner/pâtissier Kenny Hea. Kenny is a baker of 20 years’ and received his training in Taiwan. He has spent years honing his skills and developing recipes to suit the palate of Brisbanites and yet still keep the authenticity of the traditional Taiwanese Style pastry. Kenny has a passion for perfection and will go as far as importing the best ingredients from overseas if they are not available locally.

He even produces the displays in his store.

La Casa Patisserie has exciting plans coming up. They have announced that in the next 3 months, that they will start to provide a catering and cake making service for special events. We welcome all the readers to come and support this local business and experience Kenny’s creations.

La Casa Patisserie is located in Runcorn Plaza (doors from IGA), and across the road from Warrigal Square. Follow Kenny likes to adapt their social media on his menu according to Facebook and WeChat his community and the to get a glimpse of their seasons as he prefers latest creations. to use the freshest produce. Using his @La Casa Patisserie skills and creativity, he also enjoys shaping Let’s Connect his bread into complex On WeChat! and interested shapes.

Visit them at Runcorn Plaza: 12/258 Warrigal Road, Runcorn QLD 4113

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OUR BUSINESS

PARTNERS

“

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

“

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

14

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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PROFESSIONAL SERVICE I watched Owen and his team in auctions by attending them over recent years. What attracted him for us was to see the way he worked with bidders at the auctions. Owen worked hard on everyone to achieve a great attendance on the day. He created a competitive bidding process which brough about a positive outcome. I would strongly recommend Owen for other sellers. His team are all very polite and helpful in the process.

Owen Chen

- David, a review from ratemyagent.com.au

EXCELLENT AGENT We found Stuart to be a pleasure to deal with right from the start. He worked hard to get the best outcome for us which is rare to find. He was honest, hard working, an excellent communicator and very respectful, never failing to keep us up to date at any step. We woud highly recommend Stuart’s services.

- Matt, a review from ratemyagent.com.au

OVER

$100m Total Sales in 12 Months

OVER

177

Transactions in 12 Months

Stuart Collins 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

OWEN CHEN

0413 081 780 | owenchen@eplace.com.au

STUART COLLINS

0488 883 938 | stuartcollins@eplace.com.au