Michelle and Mark Jenkins and their children Huw, 5, Rhys, 9, and Nia, 12, are planning a move, but they won’t be going far. Picture: Annette DewMany sellers start with fairly high price ambitions when they decide to list their home, but the market soon brings them back into line.But there are always exceptions to the rule – suburbs where demand is high and sellers generally achieve pretty close to their original asking price when they hit the market.It may surprise some that the suburb in Greater Brisbane where vendor discounting – that is, the difference between the original asking price and the eventual sale price – is the lowest is nowhere near the Brisbane CBD. Ripley at Ipswich, south west of Brisbane, has the lowest average vendor discount of just 0.9 per cent.The suburb has a median house price of $346,500 and many new built homes on offer. Next on the list are the more established suburbs of Nudgee and Kangaroo Point, where sellers only reduced their initial price expectations on average by 1.3 per cent to get a deal over the line.Nudgee has a median house price of $640,000 while at Kangaroo Point it is $829,000. In fourth position for houses was Upper Kedron, with an average vendor discount of 1.6 per cent and a median of $615,000, followed by Archerfield with 1.7 per cent and an affordable median of $371,000.In the unit market, Fitzgibbon, north of Brisbane, had the lowest discounting rate of 0.6 per cent. Once again it had a high percentage of new stock.Next came Mansfield and Molendinar at 1.4 per cent, Mango Hill at 1.6 per cent and Carseldine at 1.8 per cent.Michelle and Mark Jenkins built their home at Nudgee in 2008. Before that they had lived in another home in the suburb, and they have now bought a house at Nudgee Beach, where they intend to move next.Their home at 33 Overlea St is listed through Dwight Colbert of Ray White.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours agoThe home at 33 Overlea St, Nudgee.Mr Colbert said big family homes were tightly held in the area. He said things were still selling very quickly in Nudgee. It was popular because it was close to everything including the airport and had a great community feel.Mrs Jenkins said their five-bedroom home had suited their growing family. 33 Overlea St, Nudgee.“We originally come from the UK and had rented for a short time back in 2001 in a number of suburbs,” she said.“We just wanted to look at where would be a good place to make an investment, for the family, for transport links, and we found Banyo and Nudgee.“We loved the area, it has like a small-town feel to it.’’Mrs Jenkins didn’t think a lot of people realised yet just how nice it was.“Which surprises me,’’ she said. “When they enter the area they can’t believe it. It is a little community.’’
This home in Ferny Hills was sold for the high $500,000s on January 21 by Explore Property Picture: SuppliedA suburb that has gone under the radar for years has seen a spike in interest as investors and locals alike seek out opportunities near Brisbane.Just 12km from the CBD, Ferny Hills is starting to see inspections as much as triple usual interest levels, according to Kelly Qualtrough from Explore Property Brisbane. “Compared to Stafford, where you might get 10 buyers through, we’re getting 21 and 31 groups through,” she said. “It’s pushing prices up.” More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019She and colleague Rhys Cockram have been fielding strong inquiry levels for inspections, driven by the suburb’s value for money. “It has been a little bit untapped,” Ms Qualtrough said. “Ferny Hills is starting to get recognised. It’s so affordable … and that’s driving up demand.”Renovators were on the hunt now, with original homes selling for about the high $500,000s, and renovated properties going for the mid-$700,000s. “It’s the new area for fixer uppers and fix and flip,” she said. “There’s certainly a bit of scope to add value.”The suburb logged higher than the Brisbane average median price growth at 5.9 per cent in the 12 months to last October, according to CoreLogic market trends.In the last five years, Ferny Hills has seen its median house price rise 21.8 per cent, with the past three years seeing a 16 per cent jump.Such was the rise in interest in Brisbane’s northeast that Explore Property saw more than 180 people visit open homes in one weekend, with more than $3 million in sales from a single office.
18 Nagel Avenue MiamiSTYLED by a reality TV star from popular renovation series The Block, this Miami home was built to take everything three kids could throw at it.Homeowners Nathan and Renee Brookes have created the ultimate beachside sanctuary with the help of architect John Campbell and their friend, The Block 2014 contestant, Carlene Duffy.18 Nagel Avenue MiamiAs the couple’s third beachside build, they were looking for a “bulletproof” home to accommodate their three children.“We were previously living in Seagull Ave and we had just built a new beachside home there, but we were looking to move onto another project,” Mr Brookes said.“We got Carlene on board and she helped us make some really strong decisions with colours and features.18 Nagel Avenue Miami“Designing beach houses has become a big hobby for Renee and I but now that we have kids we are using materials that are a bit more hardy.”The home has polished concrete floors and an open floor plan which flows into a children’s retreat.The family has been living in the home for a year, with the concrete floors proving to be a good decision.18 Nagel Ave MiamiMore from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North9 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“The kids come home from the beach covered in sand and it doesn’t matter because nothing gets ruined,” Mr Brookes said.The design has a seamless flow to the outdoors while striking tropical wallpaper, timber finishes and light-filled spaces combine to create a casual chic space.18 Nagel Avenue MiamiA double-story entry door opens to a foyer with a dramatic void.“There are interesting curves throughout the house and our architect John Campbell was responsible for that,” Mr Brookes said.18 Nagel Avenue Miami“The privacy makes this house one of the best we have lived in, there are no neighbours to the back and the home feels a lot bigger than what it is.”The family now plans to move onto their fourth beach house project.18 Nagel Avenue Miami4 3 3Features: Plunge pool, wine cellar and voidAgent: Ron London, London Estate Agents Mermaid BeachPrice: Offers over $2 millionInspections: By appointment
More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoEPS Property Search director and buyer’s agent Patrick Bright. Photo: Danielle Butters. 2. DEPOSIT AMOUNT The standard deposit is 10 per cent, but you might want to lower that to five per cent. “Why leave more money than you have to in the selling agent’s or vendors’ solicitor’s hands?” Mr Bright says. 3. TYPE OF DEPOSIT Instead of cash, you might ask the vendor to accept a deposit bond or personal/bank cheque. 4. ACCESS TO THE PROPERTY You may want access to the property prior to settlement for various reasons. Buy this unit and you’ll get $20k How to avoid a renovation disaster Aussies not such good neighbours Bidding at auction this weekend? Here’s how to buy a home like a boss.YOU’VE found the house you want to buy — the only catch is it’s going under the hammer.Bidding for a property at auction can be downright scary, but don’t be afraid to negotiate the sale conditions beforehand.Buyer’s agent Patrick Bright says many people don’t realise they can change the terms of a property’s contract prior to auction — as long as the vendor agrees.These are some of the terms you might want to consider changing:1. SETTLEMENT PERIOD This is one of the more common terms many buyers change. Mr Bright says that while the typical settlement period for an auction is six weeks (42 days) many buyers may need to extend or shorten it. “The selling agent doesn’t get paid until settlement day so they will often try to talk you and the vendor out of altering this period unless both of you want to make it shorter,” he says. “I suggest buyers go direct to the vendor, via their solicitor. If the vendor agrees to your settlement period, then you take their solicitor’s letter with you to the auction. “If you’re successful on the day, you produce the letter, the auctioneer alters the contract and you sign it.”
8 Huet Street, Wavell Heights.Ms Miller said the house was too big for her and she had not made up her mind on where she would move to yet.The property, which looks straight over the Kedron Brook and Shaw Park sporting fields is situated on a 546sq m block and close to Brisbane’s CBD, main arterial roads and local shopping centres. 8 Huet Street, Wavell Heights.After 47 years living at 8 Huet St, Wavell Heights, Nell Miller is ready to downsize.Ms Miller’s home sold under the hammer on August 26 for $730,000, with the help of Ray White – New Farm selling agent Grayson McIvor.Mr McIvor said there were 10 registered bidders at the auction with more than 100 bids made throughout in front of more than 100 people.More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019He said the property was bought by a local couple, Trevor and Simone Irvine.The three-bedroom, one-bathroom home is in one of the most highly regarded streets in Wavell Heights, according to the agent.“The drawcard here was the potential city views. It’s a blank canvas, a pre-1946 home. It’s the only one left in the street,” Mr McIvor said.
More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019Agents were finding some sellers prefer to just sell “as is”.While the suburb’s median price sits at $670,000 and that of four bedroom houses was at $800,900, some buyers have landed properties like 184 Bilsen Road for the $580,000 mark.The sellers paid $470,000 for the property just four years earlier, with the current land valuation at $445,000, according to CoreLogic records.Agent Jonathan Jessup of Johnson Real Estate Chermside had marketed the property as one that needed someone who could “add TLC”. The large four bedroom, two bathroom home, in the heart of Wavell Heights was on a 632sq m block.The pool pictured outside the French door required major work, the agent said. Ready for an update.“There were some major issues, some major repairs,” he said of the property which changed hands a week ago. “It had a swimming pool that needed either repairing or removing. It needed a substantial amount of money to renovate.”He said there were two offers on the house even with its repair bill and the home was one of several that had sold under similar conditions.“Certainly opportunities are still there but they are being snapped up,” he said. “The landscape is changing. There’s major change underway.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:18Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:18 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenClose Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Could this be your anti-dream home?02:18 Related videos 02:18Could this be your anti-dream home?01:19Tips to create a modernist home00:55The ultimate indoor plant… build around a tree02:24The Reno after The Block…Julia’s dream home tour. 00:39Average house? Wait till you see the extension!09:04Lana’s Dream Home: Ep 2 184 Bilsen Road, Wavell Heights, Qld 4012. Picture: Realestate.com.auBRISBANE’S middle ring suburbs are seeing a surge in demand for fixer-uppers with some homes selling close to land value.Suburbs like Wavell Heights were seeing a massive surge in demand, with 960 visits per property listed on realestate.com.au from the suburb, compared to the Queensland average of 307 visits per property.The Bilsen Road property has its strong points.
20 Grays Rd, HamiltonA ROOFTOP terrace helps this Hamilton home standout above all others.The five-bedroom home at 20 Grays Rd, is a new build with outdoor entertaining areas and polished timber floor inside.A gated driveway leads to a front porch that opens to the second floor. Inside downlighting and a bright palette flow throughout open-plan living and dining rooms with large slider windows. 20 Grays RdNext to a powder room, the kitchen has timber-finished cabinetry, a breakfast bar and corner pantry. The second floor of the residence also houses a double garage with storage space and the main bedroom which has a walk-in wardrobe and an ensuite with a double vanity and glass shower.External stairs near the living room lead up to a rooftop terrace with panoramic neighbourhood views.Back inside, floating timber stairs and an elevator connect the second floor to the rest of the residence, including the first floor, which has three carpeted bedrooms. Two bedrooms have built-in wardrobes, including one with a private balcony, and share a modern bathroom with a freestanding bath and glass shower. More from newsParks and wildlife the new lust-haves post coronavirus1 day agoNoosa’s best beachfront penthouse is about to hit the market1 day agoThe third bedroom has a walk-in wardrobe and an ensuite with a double vanity. A study and theatre room with plush carpet and a recessed ceiling occupy the remainder of the level.Downstairs comprises a rumpus room with a bar area and imported polished tiles. Outside, a covered patio overlooks an in-ground pool. Back inside, the downstairs bedroom has a walk-through wardrobe and stylish ensuite. Completing the floor is a bathroom and laundry with external access.Other features of the residence include ducted airconditioning, a state-of-the-art intercom system, mono circular staircases and an internal elevator.Agent Patrick McKinnon said the property offered an opportunity like no other.“Offering unmatched quality, this home is an outstanding family sanctuary of contemporary luxury, comfort, space and ease of living,” Mr McKinnon said.
The latest Rental Affordability Index shows Queensland students and pensioners are in rental stress.The index found Brisbane pensioners are the hardest hit, with singles having to spend 67 per cent of their income, and couples 44 per cent, to secure a new lease. Single income families with children pay a quarter of their income for a new rental, leaving little for the cost of childcare and education. This is despite rents actually falling in Brisbane by 0.4 per cent in the year to September, according to the latest Housing Industry Association figures. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE A third of Queenslanders rent their home, according to the REIQ.Advocacy groups are calling on the federal government to introduce a national housing plan and say more share housing and social housing are the only affordable solutions. “Affordability is a far bigger problem for renters than homeowners, and yet everyone wants to focus on homeownership,” Mr Pisarski said.“To accommodate the growing proportion of renters and to house them affordably we really need a national housing plan.”Mr Pisarski said Queensland had one of the lowest proportions of social housing in the country.“The mantra that we need more supply isn’t holding up,” he said.“We need specific supply strategies for affordable and social housing — it’s the bottom of the market that’s continually missing out and governments have a responsibility for that.” National Shelter executive officer Adrian Pisarski.More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoAnglicare Australia and the National Union of Students are calling on the federal government to provide more support for students in next year’s budget.“Students are being forced into poverty, and many cannot afford basic necessities,” Jill Molloy of the National Union of Students said. “Many students are also having negative experiences where they live — 49 per cent told us they were struggling with rent costs.”Anglicare Australia executive director Kasy Chambers agreed students who relied on Youth Allowance or Austudy were struggling to pay rent.According to the Real Estate Institute of Queensland, about one third of Queenslanders rent their home.REIQ chief executive Antonia Mercorella said spending 30 per cent of a household’s income on rent was considered affordable and that rents in Queensland were significantly lower than in Victoria and New South Wales.Ms Mercorella agreed affordable student accommodation in Brisbane’s CBD was hard to find, but pointed out there were some developments in the pipeline that could bring an extra 8000 beds to the market and ease some of that pressure. The latest Rental Affordability Index shows inner-city Brisbane is still unaffordable.The least affordable areas in Greater Brisbane include the affluent suburbs of Brookfield and Bulimba and Kobble Creek and Samsonvale in the Moreton Bay region, where 34 per cent of household income is spent on rent.The median rental household in Greater Brisbane has a gross income of $83,500 per annum, according to SGS Economics & Planning. On the Gold Coast, Robina and Currumbin Waters are considered unaffordable for the average renter, along with Noosa and Palmwoods on the Sunshine Coast.“We all expect Brisbane and the Gold Coast to have affordability issues, but the Sunshine Coast is more surprising,” National Shelter executive officer Adrian Pisarski said.“For a pensioner couple on $45,000 a year, there are no affordable rental options on the Sunshine Coast.” MONEY CAN’T BUY YOU THIS MANSION WHOPPING PRICE FOR MOST EXPENSIVE BUYER SWOOPS ON HAMPTONS HAVEN Median rents relative to household income are more affordable in the regions of Ipswich and Redbank, according to the Rental Affordability Index.Students, with a job on the side earning the maximum allowable income and living in a share house, are paying 28 per cent of their income on rent. But those living close to Brisbane’s CBD are paying considerably more — 45 per cent of their earnings go towards rent.For young people on benefits, rents are untenable across Brisbane, amounting to more than 100 per cent of total income, according to the report. The Rental Affordability Index shows Queensland students are struggling to pay rent. Pic: Suzanna Clarke.VULNERABLE Queenslanders are struggling to keep a roof over their heads, with barely enough money for necessities like food and medicine after paying rent, a new report reveals. The latest rental affordability report card out today reveals students living near Brisbane’s CBD are forking out nearly half their income on rent, while single pensioners are giving their landlords more than two-thirds of what they earn. The national Rental Affordability Index, released by National Shelter, Community Sector Banking and SGS Economics & Planning, recorded a slight improvement in affordability in Queensland in the June quarter, with average income households spending a quarter of their earnings on rent.But in inner-city Brisbane and on the Gold Coast and the Sunshine Coast, 30 per cent or more of an average income household’s earnings are being spent on rent.The RAI’s benchmark for housing stress is when 30 per cent of a household’s income is spent on rent — above that threshold people have difficulty paying for primary needs, such as food, air conditioning, medicine and transport, according to the report authors. REIQ chief executive Antonia Mercorella. Photo: Claudia Baxter.She said there was a shortfall in affordable, fit-for-purpose accommodation for the aged community. “It’s not a problem that is unique to Queensland,” she said.“It’s a national issue that requires more attention than it currently receives.”QUEENSLAND’S LEAST AFFORDABLE SUBURBS FOR AVERAGE RENTERS1. Kobble Creek/Samsonvale2. Brookfield/Kenmore3. Samford Village 4. Eatons Hill5. Burbank/Mackenzie6. Bulimba/Hawthorne 7. Carbrook 8. The Gap 9. Worongary 10. Wakerley/Ransome 11. Currumbin Waters 12. Robina 13. Upper Kedron/Ferny Hills 14. Spring Hill 15. Petrie Terrace 16. Paddington/Rosalie 17. New Farm 18. Burleigh Heads 19. St Lucia 20. West End/Highgate Hill (Source: SGS Economics & Planning 2017. Based on an average income household of $80,000)
35 Venice St, Mermaid Beach is going under the hammer on Tuesday.THE Gold Coast’s weather may be cooling but the Mermaid Beach property market is still running hot with the team at John Henderson Professionals Mermaid Beach set to hold its May auction event.Agency director Luke Henderson said 14 properties were set to go on the auction block on May 29 at the Mermaid Beach Bowls Club on May 29. John Henderson Professionals Mermaid Beach Hot Summer Auction Event earlier this year.The Henderson’s Hot Summer Auction Event in January drew a crowd of 300 people as 13 of 17 properties were sold under the hammer.“We had some outstanding results during the Hot Summer Auction and it was particularly exciting that the bidding wars on some of the properties were particularly intense,’’ said Mr Henderson.“We are expecting more of the same action at our May event.” More from news02:37International architect Desmond Brooks selling luxury beach villa17 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoLuke Henderson and Andrew Henderson of John Henderson Professionals Mermaid Beach. Picture: Jerad Williams“Interest in Mermaid Beach properties is running strong now and this is reflected in the latest CoreLogic data shows the median price for houses has risen to $1.5 million to become the most exclusive suburb on the Gold Coast,’’ said Mr Henderson.“Mermaid Beach, because of its beachfront location matched with its height limits, has always been a very desirable suburb but in recent years it has increasingly been in demand with buyers.“We are very much into the seller’s market stage of the property cycle.” 304/ 9-15 Markeri St, Mermaid Beach will go to auction on Tuesday.