Schedule of finishes:

Audio intercom
2.4 m high ceilings, quality tiles and carpets
Split-system air-conditioning to living and dining area
Kitchen with stone bench-top, high gloss Createc cabinetry, coloured splashback, and stainless steel appliances including dishwasher
Mirrored sliding wardrobes with shelves and hanging rail
Dryer to laundry
Individual remote lockup garage
Communal on-site visitor parking
Individually metered hot water

Contact Robert 0419 026 643 or email info@ppga.net.au for more information or to register your interest

February 22, 2012

House prices in Brisbane are beginning to steady.

The December quarter may have marked the start of a recovery in Brisbane’s flagging property market, with house prices appearing to steady after 15 months of consecutive falls.

The city’s median house price has tumbled at least 1 per cent each quarter since September 2010, but the December quarter recorded a minimal decline of 0.2 per cent, according to figures released by the Real Estate Institute of Queensland this week.

Although the negligible decline pushed the median house price below $500,000 to $499,000 for the first time in two years, it is the first positive sign in the market since last summer’s floods.

The greatest fall of 2 per cent occurred in the three months to September last year, effectively pushing the market to its lowest level yet.

“We’re thinking Brisbane may well have bottomed out and we’re waiting to see whether the next quarter starts to show the rise, which has just started, so to speak,” REIQ chief executive Anton Kardash said.

“Last year was a very tough one for everyone in Queensland with the series of natural disasters having a drastic impact on our economy as well as on confidence levels overall.

“With the first anniversary of these events now passed, it certainly appears that Queenslanders are feeling more optimistic about the future and this is starting to have a positive effect on our property market.

“While it was too soon for the two interest rate reductions in November and December last year to be reflected in these results, we anticipate more positive news on our property market in the months ahead as these rate cuts flow through to our wider economy.”

Analysts, including Michael Matusik, are pointing to “green shoots” in the market, saying buyer confidence appears to be improving.

“Brisbane is at the bottom of the cycle and is set to improve,” Mr Matusik said.

“Three things drive a property cycle north – confidence, supply and demand, and jobs.

“Confidence is on the mend, the Brisbane new housing market remains undersupplied and a plethora of new resource and infrastructure projects will help drive future job growth.

“Vacancy rates remain tight and rents are now growing well above inflation. This will drive prices upward in coming years. Sales are finally starting to improve too, albeit from a low-base.”

While the REIQ figures show the median house price in Brisbane fell 5.2 per cent in 2011, some suburbs recorded increases above 10 per cent in the three months to December.

The median house price in Greenslopes, in Brisbane’s inner-south, fell 4 per cent to $567,500 over the year, but rebounded 14.4 per cent in the last quarter to $638,500.

Prices in flood-ravaged Rocklea fell 22.3 per cent overall, but bounced back 18.3 per cent in the final quarter to $279,086.

Wishart experienced a similar rebound, with the median house price jumping 10.4 per cent to $573,000 in the same period.

Only one Brisbane suburb entirely bucked the trend; house prices in inner-city New Farm soared 21 per cent in 12 months making the median value of a three-bedroom house in the riverside suburb $1.24 million.

Last September, BIS Shrapnel building and construction forecasting manager Angie Zigomanis predicted January would mark a turning point in the market, saying 2012 would be more of a “consolidation year”.

Mr Zigomanis has forecast a 7 per cent increase in property prices over this financial year.

Mr Kardash said the market is poised for a comeback, but said potential home buyers tended to rest on their laurels awaiting further interest rate cuts.

“The signs are all encouraging that the market might be starting to turn,” he said.

“We’re very, very hopeful.”

According to Robert Projeski of Australian Mortgage Options, although long-standing interest rates and low consumer sentiment overshadowed much of the past year, it finished on a rather more positive note. Consumer spending actually rose by 3.8 per cent, and gross domestic product grew by 2.5 per cent, along with the Wellbeing Index*, which increased to 4.3 per cent, helped by a rise in national income of six per cent.
With refinancing on the rise by more than 17.8 per cent, and latest Westpac Melbourne Institute Index indicating a three per cent increase in “expectations for family finances to improve over the next 12 months” and a “high chance” for a third interest rate cut by the Reserve Bank of Australia board early in the new year, we can expect further growth in both finance commitments and refinancing in the first quarter of 2012.

First homebuyers were already making up 17.6 per cent of the owner-occupied finance commitments for the year before the interest rate cuts, with many jumping to action since then in order to take advantage of the reduced rates, the first homebuyers grant and especially the stamp duty exemption in New South Wales. Thus, there has been increased activity in the property market overall, which is very likely to continue in the new year with investors coming back into the market and purchasing property in their self-managed super funds.

With regard to Europe’s unfolding crisis, according to John Lindeman of Property Power Partners, it is likely to have little direct impact on our economy. This is because most of our main exports to European countries, such as thermal coal, gold and alcoholic beverages, are recession proof. He believes that the only real threat that an unravelling Eurozone poses to our housing market is a scarcity of finance, which could lead to tighter lending practices and higher interest rates. On the other hand, the Reserve Bank of Australia (RBA) is doing all it can to pre-empt this possibility by actively reducing interest rates in anticipation.

The Eurozone’s difficulties may in fact provide a boost to our housing market. The fact is that our nation’s population and economic growth and the very health of our housing market are firmly dependent on the arrival of large numbers of overseas arrivals. As Eurozone economies deteriorate, we’re likely to see an influx of overseas arrivals from the Euro rim countries such as Ireland, Finland, Portugal, Spain, Italy and Greece. These arrivals will be young and educated with a cosmopolitan outlook, and will move into clearly defined areas such as the inner suburban areas of Sydney, Melbourne, Brisbane and Perth, where rents will soar. This could start happening at any time during 2012, and, as they settle and decide to buy their own homes, the demand they create will translate into house price growth in the emerging suburbs of those cities.

*Unlike traditional measures of economic growth such as the GDP, the Wellbeing Index includes more subjective measures of quality of life, including human capital, job satisfaction, income, health and wellbeing.

Information sourced from API Magazine January 2012

Property Features:

Intercom
Caesar-stone bench-tops and stainless steel appliances
Split system air-conditioning
Separate laundry
Tiled living areas
Built-in and/or walk-in wardrobes
Security screens
Vertical blinds
Balcony
Ranging from 72.5sqm – 81.5sqm living are
Range of floor plans
Single or double garage available

Property Brochure

Residex Suburb Profile

Featuring stone bench-tops, 2-pack kitchen cabinetry, stainless steel appliances, air-conditioned living area, vitrified floor tiles, and quality carpets and tapware, these apartments have either a single garage or car space.

Apartments are approximately between 70-78sqm, with wheel chair access from the street for the two new downstairs units.

Within two minutes walking distance to the train station and bus-stop, and shops across the road, these apartments are bound to be popular with investors and owner-residents alike.
Rental appraisal is approximately $360-$380 per week.

Government grant is available on new apartments only – $10,000 for investors/non first-home buyers, and $17,000 for first-home buyers

Property Brochure

Suburb profile

For more information or to register your interest, call Robert on 0419 026 643.

Apartments include elevator access, lockup garage, combined laundry and bathroom, terrace/balcony, en-suite, study area, and garage with extra storage. An important point of difference is almost zero electricity cost due to Solar electricity generation with energy limiters. Also, ground floor apartments have exclusive use areas or courtyards.

The schedule of finishes is of a high standard and includes:

Entry gate to complex with secure audio intercom entry

High ceilings 2.6m

Kitchen and vanity with two pack cupboards and easy access drawers

Granite bench-tops

Omega stainless steel appliances including dishwasher

Porcelain tiles and quality carpet

Sliding mirror wardrobes with hanging area and shelves

Ceiling fans to living area and bedrooms

Mitsubishi 5KW air-conditioning to living

Double glazing

Remote garage with emergency key access

Landscaping

Energy saving measures include:

• Q bears 9 stars energy star rating
• Well situated with northerly aspects to living areas with cross ventilation
• Mixture of low voltage down lights and oyster light fittings energy saving globes
• Air-conditioning top quality commercial Mitsubishi 5KW for living area
• 1.48KW Solar electricity generation installed to roof with electricity pumped back into the grid earning up to 50 cents per KWH
• Electricity card out of system to limit electricity use when residence unoccupied
• Heat pump for hot water

Contact us for individual floor plans

Property Brochure

Yeronga Suburb Profile

The lower level comprises an open-plan living/dining/kitchen area, with a powder room for added convenience, and a single panel-lift garage and laundry. On the upper level there are three bedrooms (main with en-suite bathroom) and a family bathroom plus separate toilet. Most of the townhouses also have a study area upstairs, and some have a balcony.

Each townhouse has an exclusive-use fenced and landscaped courtyard with a water tank, and an open timber pergola and tiled patio area.

With neutral décor thoughout, the townhomes have vertical blinds and screens already installed. The living area is tiled and air-conditioned, and the bedrooms are carpeted and have built-in wardrobes. The kitchen is furnished with stainless steel appliances including a dishwasher. With a low body corporate levy of $1300 per annum,  these very affordable townhomes are certain to appeal equally to astute investors or owner-residents.

Download property brochure

Property brochure

The townhomes are extremely well located at Morningside, approximately 4 kilometres east of Brisbane GPO, and range in size from 149-155sqm.

The top level offers a spacious open–plan living/kitchen/dining area, with convenient powder room.

The middle level offers 3 bedrooms, the main with en-suite, built in robes, study area, and balcony. There is also an additional study alcove situated on the landing.

The ground level comprises a double internal garage and laundry, and exclusive use garden.

The schedule of finishes includes:

Stone bench-top to kitchen and vanity

Stainless steel appliances including dishwasher

Microwave

Soft closing drawers/doors to kitchen

Ducted air-conditioning

Ceiling fans

Vitrified tiles throughout

Bedrooms furnished with quality wool carpet

Property Brochure

Morningside residents enjoy its close proximity to the city while taking advantage of the community atmosphere the suburb affords. Offering an abundance of facilities and services, including a major shopping centre, railway station, schools, parks and recreational reserves, the suburb is also home to a number of restaurants and cafes. Oxford St café precinct at Bulimba is approximately1km north of the townhomes; several bus routes are easily accessible, and the railway station is 500m to the south. Close proximity to Wynnum road 1km to the south ensures easy access to the city and northern suburbs, as well as the Gateway Motorway and Bruce Highway which lead to the Gold and Sunshine Coasts

Close to rail and major retail, they offer everything the discerning owner or tenant expects, from the secure audio intercom entry to the remote-controlled secure car-park.

All apartments have a corner aspect with good airflow, and offer air-conditioned, carpeted, open-plan living.

Cleverly designed, the apartments incorporate a convenient study area and separate laundry furnished with clothes dryer.

The kitchen is well finished, with stone bench-tops, and stainless steel appliances including a dishwasher.

A furniture package can be supplied if required.

Contact us for individual floor plans.

Property Brochure