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Archive for August, 2009

First home boost still boosting?

Posted by admin on 21 August 2009

Are first home buyers still buying? It’s the most common question people are asking us at the moment.

In May it seemed like they”d run out of steam and we might have seen the last rush. The maroon line on the graph below shows the total grants to Queenslanders each month and you’ll see that June kicked back up again. Maybe with more job confidence, buyers lined up for their $14,000 from the government in bigger numbers than ever. The First Home Owners Grant has cost taxpayers $13billion since the October introduction of the boost.

With reasonably tough bank criteria and some conservative valuations going on, we’re surprised the run has continued as long as it has. The grant has pulled forward an enormous amount of first home demand. The graph does show the lines flattening, Queensland more so than other states, and the upcoming release of July stats will give us an update on their appetite.

Our view from the market is that sales volumes are steady as investors are taking up the slack, with first home buyers slowly easing in number.

first home boost

Tags: first home buyers, First Home Owners Boost, home buyers Brisbane
Posted in Brisbane's sales market, property taxes and rates etc | No Comments »

Skyneedle a South Brisbane landmark

Posted by admin on 20 August 2009

I took this video in Manning Street today. Most are familiar with the 88 metre tall Skyneedle which was purchased by South Brisbane local (and Hairdressing magnate) Stefan Ackerie following Expo 88, and restored the heritage listed tower in March this year using Italian made LED’s and German-sourced search lights.

Tags: Expo 88 Brisbane, Manning Street South Brisbane, skyneedle South Brisbane
Posted in South Brisbane and South Bank | No Comments »

CityGlider every 10 minutes

Posted by Rob Honeycombe on 19 August 2009

I don’t catch the bus. I could use it for trips around the inner city for work meetings, but any time I’ve thought of it the timings are confusing, miss one and the next is 30 minutes later, the frequency changes regularly and the fares are all over the shop. Too hard, at least for a workday where appointment times are critical.

The Brisbane City Council has now confirmed that once they start next year the new CityGlider buses will run every 10 minutes, 18 hours a day. It’ll be every 5 minutes in peak times and 24 hours a day over the weekend.

Even I can work this one out.

Travelling from the Ferry stop at West End’s Orleigh Park it’ll run down Montague Road (making that evolving patch feel more connected), through Mollison Street behind Coles, and along South Brisbane’s Melbourne Street.

With tickets issued before you board and extra doors opening to let more people on, the stops will be fast. And we’ll pay one fare (probably $2.50) regardless of how far you travel.

Across Victoria Bridge, through the CBD and Valley, finishing at Teneriffe’s Ferry terminal. Simple, regular, long hours and linking some of our major entertainment, study and work locations. This will be a massive improvement in moving people around the inner city.

Of course the same route and service but under our streets in a Brisbane subway would be even better!

Tags: Brisbane City Council, Brisbane subway, Brisbane traffic, CityGlider Brisbane, Fortitude Valley Brisbane, Melbourne Street South Brisbane, Mollison Street South Brisbane, Montague Road Brisbane, Orleigh Park West End Brisbane, Teneriffe Brisbane, Victoria Bridge Brisbane
Posted in Brisbane CBD, Brisbane's future & new infrastructure, Brisbane's rental market, South Brisbane and South Bank, West End, real estate marketing, trends in Brisbane property | No Comments »

A State built on property ownership

Posted by admin on 17 August 2009

Queen Street 1859
Queensland is celebrating our 150 years of statehood, with December 10th marking the date Governor Bowen made it back from collecting the paperwork from Her Maj in sunny London.

One of the first jobs was to hold an election and the decision was made to give the vote only to Queenslanders who owned a minimum amount of property. The Governor wrote to his bosses arguing that few of us would miss out on having a say. “In the towns and villages of Queensland there is hardly a working man who does not possess at least the property qualification required.” “In fact the majority of our labouring classes live in their own houses, built on their own land.”

No mention of women voting of course, but the extent of home ownership sounds impressive.

The photo shows Queen Street in 1859, looking south from Edward Street with George Street at the top of the hill. Queen’s Plaza is today at the bottom right. Even 150 years ago it was a busy little place.

Over coming months we’ll write a handful of posts on this blog about Brisbane’s history, with a property focus. Click the tag to read the latest.

Image couresy of John Oxley Library.

Tags: Brisbane history, Edward Street Brisbane, George Street Brisbane, Governor Bowen, John Oxley Library Brisbane, Queen Street Brisbane, Queen's Plaza Brisbane
Posted in Brisbane CBD | No Comments »

Time you were moving?!

Posted by admin on 14 August 2009

Have you been in your home for more than 7 years? Chances are you haven’t.

Interesting stats out today from property researchers RP Data, charting the average time we own a piece of real estate. Tracking all sales in the year to May their team recorded the average time since the property was bought by that owner. For Queensland apartment owners it was just 5.7 years, our house owners 6.8 years.

As real estate agents we want to compliment all those people who chose to sell!

Our livelihoods aside it’s interesting how short the average tenure really is. We remember hearing stats out of the USA many moons ago that 7 years was their average holding time and we couldn’t imagine Australians would get to that point.

Interestingly the longest stays seem to be in more affordable suburbs. Maybe first home buyers get their piece of Australia and hold on tight. Investors are also more active in these areas and may have longer term plans than owner-residents.

Overall property owners are much happier to move once our dwellings no longer fit our needs, something unheard of a generation or two ago. Whatever the reason Queenslanders sell so regularly we thank you, and encourage you to do it more often!

Tags: affordable suburbs Brisbane, Brisbane real estate statistics, first home owners, RP Data
Posted in trends in Brisbane property | No Comments »

Animals in apartments: body corporate law’s not clear cut

Posted by admin on 14 August 2009

Buyers often ask us if they’ll be able to bring their cat or small dog to their new apartment or townhouse. Pets in apartments can be a touchy subject with plenty of emotion, and lately we’re seeing more buyers that are simply not happy to accept a body corp’s rejection of their moggy or mutt.

So can a body corp of current owners reject a pet? In many cases, no.

Each building has its own by-laws that apply and if they state “no pets” then that’s pretty clear. (Other than for guide dogs.) The majority of by-laws have wording to the effect that the committee must approve any pet application – and in some buildings the owners enforce a no pets policy by rejecting all applications out of hand.

This is the area that’s creating waves right now.

In one landmark decision an adjudicator with the Queensland Body Corporate and Community Management Commissioner’s office forced a committee to approve a cat. The Southport apartment owner suffered depression and had a doctor’s letter supporting the animal as a companion and “part of her therapy”.

The adjudicator noted that the by-laws said a pet could be kept with approval. “This means that the committee cannot simply adopt a “no pets ” policy but must exercise the discretion to approve a particular animal after consideration of the individual circumstances.”

Committee members should take care with this tricky topic.

Our main concern with body corporate law in Queensland is the lack of info and knowledge. Property owners don’t have easy access to it, most real estate agents know little so they’re not educating buyers, and most conveyancing lawyers give only a brief outline unless asked.

If you own a property in a body corp and have minimal to zip knowledge of the legalities don’t be embarrassed. You’re in good (and plentiful) company!

Commencing in September Bees Nees City Realty, in conjunction with Brisbane’s Stansure Strata Management, will be running a series of small seminars on some broad body corp topics. Insurances, getting involved in your committee, understanding your AGM agenda and budgets. The evening seminars will be held at our South Brisbane office and will be free of charge.

If you’d like more info email rsvp@beesnees.com.au

Tags: application for pets Brisbane, body corp committee Queensland, Body Corporate and Community Management Act Queensland, body corporate issues Queensland, by-laws Queensland, pets, QBCCM Commissioner
Posted in Brisbane's sales market, Inner Brisbane events, trends in Brisbane property | No Comments »

Negotiation

Posted by admin on 14 August 2009

Today’s Friday so here’s the best joke we heard this week:

A housemaid asked her wealthy boss for a pay increase. The woman was very upset about this and asked: ‘Now Maria, why do you deserve a pay increase?’ Maria: ‘Well Senora, there are three reasons why I want an increase. The first is that I iron better than you.’ Woman: ‘Who said you iron better than me?’ Maria: ‘Your husband said so.’ Woman: ‘Oh.’

Maria: ‘The second reason is that I am a better cook than you.’ Woman: ‘Nonsense, who said you were a better cook than me?’ Maria: ‘Your husband did.’ Woman: ‘Oh.’

Maria: ‘My third reason is that I am a better lover than you.’ Woman (really furious now): ‘Did my husband say that as well?’ Maria: ‘No Senora, the gardener did.’

She got the raise.

Posted in just for fun! | No Comments »

Grey Street surprise!

Posted by admin on 13 August 2009

You just never know what you’re going to see at South Bank. Today, whilst sipping a latte at my favorite spot, ‘My Sweetopia’, I saw this guy coming down from the roof of The Arbour on Grey. It’s an interesting way to hang out in one of Brisbane’s most popular streets.

Tags: Grey Street South Bank Brisbane, My Sweetopia South Bank, The Arbour on Grey South Bank
Posted in South Brisbane and South Bank, just for fun! | No Comments »

Councillor goes a bit fruity

Posted by admin on 12 August 2009

Local councillor for the Woolloongabba Ward, Helen Abrahams, has suggested a new initiative which, if adopted, will see food growing on trees and potentially help feed the homeless in South Brisbane. Cr Abrahams has endorsed a plan to plant fruit trees along South Brisbane streets which will add a greener feel to the industrial precinct, whilst helping to reduce carbon emissions and provide a viable food source for residents. With plants ranging from native and exotic fruit trees to cinnamon and lemon myrtles, there’ll soon be plenty more to see, do and eat in South Brisbane!

Tags: Councillor Helen Abrahams, Woolloongabba Ward Brisbane
Posted in South Brisbane and South Bank | No Comments »

How long’s it been on the market?

Posted by Rob Honeycombe on 7 August 2009

Does this question sound familiar? Somehow everyone learns to ask this of the agent when they see a home they have an interest in buying. It’s great for us because it’s a sign they may be ready to talk turkey. For our seller clients it can be a tough question though – how long is too long?

Buyers all want something fresh, a home new to the market, inspecting and securing before everyone else, capturing that prized sparkling gem that hasn’t yet been handled, tossed around and rejected by the masses.

And with a “safety in numbers” or herd approach, home buyers get nervous if it’s been for sale for some time. More than a few weeks on the market and it can lose its ’sheen’. Doubts creep in, small negatives about the property start to take on new life, the green laminate in the kitchen suddenly seems even uglier!

Suddenly a premium price is not so easy to achieve.

With email alerts and easy web access most buyers know how long a home has been for sale and, unfortunately for sellers, even if the price has been reduced the market may still turn its nose up. Once it’s considered stale buyers ask themselves what’s wrong with the home, why no-one else has wanted it. And if they do inspect their offers may start lower.

The early few weeks of the sale campaign are critical. Buyers do often ‘lie in wait’, screening their alerts for fresh offerings. It makes sense that the best offers are often achieved early.

The challenge is setting your price where its capitalises on any pent up demand, drawing the absolute most the market will pay, but getting a result before that probing time question becomes uncomfortable to answer.

Some properties can take longer so don’t panic. But do have a plan. Consider taking it off the market for a time, ask your agent to reload it onto the web, consider an auction campaign, ensure it has fresh headlines and there’s a change to hero images regularly. Advertise to attract a new pool of enquiry. And do have an agent whose advice you trust. There’s a lot of money at stake.