Posted by admin on 15 January 2010
The latest RTA data is out and the graph below shows rents increased slightly in the December 2009 quarter, with median rent for a 2 bedroom apartment up $10 and back to the June figure of $540. The past year saw some tenant job losses and some rent drops.
For the most part though the area proved resilient and it’s the corporate and executive rental markets that have been most effected. There’s a much smaller number of rented houses in the area and their rent also crept back up to previous levels – now $500 for a 3 bed.
This is still far and away the most expensive rental destination in Brisbane and the number of rented homes is shrinking, with first home buyers and other owner-occupiers moving in at the expense of tenants.
Losing 165 homes from the rental pool this past quarter alone, it’s now at its lowest level in 3 and a half years. So while the new developments of 2003 to 2006 did boost supply enormously the number of rental homes on offer to tenants now is low and still shrinking.
Note: The RTA groups all of postcode 4000 including the CBD, so the stats quoted here cover the 2 suburbs.
Visit www.WhatRentMyHome.com.au for the latest median rents on other Brisbane suburbs or email me at karenb@beesnees.com.au if you’d like a rental market estimate for your property.
Tags: Brisbane rents, median rents Brisbane, rental supply Brisbane, Residential Tenancies Authority
Posted in Spring Hill | No Comments »
Posted by Rob Honeycombe on 15 January 2010
The latest RTA data is out and the graph below shows rents stayed the same during the December quarter, still the $450 per week for a 2 bed apartment we’ve had since September of 2008. After booming rents in 2007/2008 the demand/supply equation evened out during 2009.
Some new rental supply was added with the “SL8″ apartments (112 of them) in West End, and combined with some tenant job losses there’s been less local competition for homes. Many tenants became first home owners so this also reduced the rental demand.
The median rent for three bed houses did drop back to $450 but with just a few bonds lodged (median rents are only calculated on new tenancies) it’s hard to make any sweeping statements on that. Obviously new houses aren’t been added to the market in any great number.
Despite the flat rental prices this remains Brisbane’s most expensive rental area outside the CBD. Looking ahead we’d suggest rents will continue to grow as the suburb’s popularity is definitely on the rise and we anticipate very few new homes being completed over coming months.
Note: The RTA groups all of postcode 4101 including South Brisbane and West End, so the stats quoted here cover the 3 suburbs.
Visit www.WhatRentMyHome.com.au for the latest median rents on other Brisbane suburbs or email me at karenb@beesnees.com.au if you’d like a rental market estimate for your property.
Tags: median rents Brisbane, rental prices Brisbane, rental supply Brisbane, Residential Tenancies Authority, SL8 Apartments West End Brisbane
Posted in Highgate Hill | No Comments »
Posted by admin on 15 January 2010
The latest RTA data is out and the graph below shows rents stayed the same during the December quarter, still the $450 per week for a 2 bed apartment we’ve had since September of 2008. After booming rents in 2007/2008 the demand/supply equation evened out during 2009.
Some new rental supply was added with the “SL8″ apartments (112 of them) in Musgrave Street, and combined with some tenant job losses there’s been less local competition for homes. Many tenants became first home owners so this also reduced the rental demand.
The median rent for three bed houses did drop back to $450 but with just a few bonds lodged (median rents are only calculated on new tenancies) it’s hard to make any sweeping statements on that. Obviously new houses aren’t been added to the market in any great number.
Despite the flat rental prices this remains Brisbane’s most expensive rental area outside the CBD. Looking ahead we’d suggest rents will continue to grow as the suburb’s popularity is definitely on the rise and we anticipate very few new homes being completed over coming months.
Note: The RTA groups all of postcode 4101 including Highgate Hill and South Brisbane, so the stats quoted here cover the 3 suburbs.
Visit www.WhatRentMyHome.com.au for the latest median rents on other Brisbane suburbs or email me at karenb@beesnees.com.au if you’d like a rental market estimate for your property.
Tags: median rents Brisbane, rental supply Brisbane, Residential Tenancies Authority, SL8 Apartments West End Brisbane
Posted in West End | No Comments »
Posted by admin on 15 January 2010
The latest RTA data is out and the graph below shows rents stayed the same during the December quarter, still the $450 per week for a 2 bed apartment we’ve had since September of 2008. After booming rents in 2007/2008 the demand/supply equation evened out during 2009.
Some new rental supply was added with the “SL8″ apartments (112 of them) in West End, and combined with some tenant job losses there’s been less local competition for homes. Many tenants became first home owners so this also reduced the rental demand.
The median rent for three bed houses did drop back to $450 but with just a few bonds lodged (median rents are only calculated on new tenancies) it’s hard to make any sweeping statements on that. Obviously new houses aren’t been added to the market in any great number.
Despite the flat rental prices this remains Brisbane’s most expensive rental area outside the CBD. Looking ahead we’d suggest rents will continue to grow as the suburb’s popularity is definitely on the rise and we anticipate very few new homes being completed over coming months.
Note: The RTA groups all of postcode 4101 including Highgate Hill and West End, so the stats quoted here cover the 3 suburbs.
Visit www.WhatRentMyHome.com.au for the latest median rents on other Brisbane suburbs or email me at karenb@beesnees.com.au if you’d like a rental market estimate for your property.
Tags: Brisbane rents, median rents Brisbane, rental prices Brisbane, SL8 Apartments West End Brisbane
Posted in South Brisbane and South Bank | No Comments »
Posted by admin on 13 January 2010
What’s the deal here? Premier Anna Bligh last week unveils the site plan for ABC Brisbane’s new South Bank home and everyone from Spring Hill to Yeronga jumps up and down?!
Don’t get me wrong, even a real estate agent like me can appreciate the value in protecting a reasonable level of green space, but isn’t that already happening?
And has anyone bothered to ask Grey and Little Stanley Street traders what they think? I was at My Sweetopia yesterday and noticed the street deserted. Ask any local shop owner and I’m sure they’ll be welcoming with open arms the hundreds of new customers who’ll be calling the ABC building home.
Tags: ABC Brisbane, Anna Bligh, Grey Street South Bank Brisbane, Little Stanley Street South Bank, My Sweetopia South Bank
Posted in Brisbane's future & new infrastructure, South Brisbane and South Bank | No Comments »
Posted by admin on 9 January 2010
Rumour has it that the ‘Ghost building’ of Spring Hill is about to have some activity that is sure to create a buzz of excitement in the local property market.
Quattro on Astor, a new residential development located on Astor Terrace, has been lying dormant for the best part of a year as a result of the developer going into receivership. Never lived in it’s been an odd sight for the suburb.
We’ve all been wondering what its future held and now hear the 52 apartments will go to the market.
Once these apartments are released it will be the biggest development to hit the Spring Hill market for quite some time. And in a great spot. Watch this space for further developments.
Tags: Astor Terrace Spring Hill, Quattro on Astor Spring Hill
Posted in Brisbane's sales market, Spring Hill | No Comments »
Posted by admin on 8 January 2010
Spring Hill apartments are set to break through the $1 million sale price barrier for the first time with the brand new development of Mountview Residences. Prices start from $1.8 million and are due to set new records in terms of sales price for apartment living in Spring Hill.
At present the highest priced apartment in Spring Hill was sold by Bees Nees at Oxygen Apartments, a penthouse for just under $1 million.
Mountview Residences is a new $25 million luxury development which consists of 9 one level 3 bedroom apartments and 1 three storey penthouse. The development is perched on the highest point in Brisbane’s CBD at the very top of Spring Hill on the corner of Leichhardt and Downing Streets.
Its elevation will capture views of both the city skyline and hinterland. Each residence will have quality luxurious finishes both internally and externally. Construction is expected to start early 2010 and to be completed by mid 2011.
Tags: Downing Street Spring Hill, Leichhardt Street Spring Hill, Mountview Residences Spring Hill, Oxygen Apartments Spring Hill
Posted in Brisbane CBD, Brisbane's sales market, Spring Hill, architecture and renovation, trends in Brisbane property | No Comments »
Posted by admin on 8 January 2010
High Tea anyone? You’ll have to book in early, but if you like the idea of city views and elevated breezes whilst you relax with a very proper High Tea then Franklin Villa on a Sunday morning or afternoon may be just the ticket for you.
The beautifully restored five-storey mansion on Brighton Road is filled with character making it one of Highgate Hill’s most charming residences. See more about it here. Complete with mouth watering finger sandwiches, homemade pastries and bite-size canapés it’s a local experience with a difference!
Tags: Brighton Road Highgate Hill Brisbane, Franklin Villa Highgate Hill
Posted in Highgate Hill | No Comments »
Posted by admin on 4 January 2010
(photo courtesy of www.newsweek.com)
I’ve just read with interest that Ipswich real estate is going to boom in 2010. I don’t know that market well, but it does makes sense. There’s plenty happening in the suburbs to Brisbane’s west – with an explosion of road work activity costing a whooping $2.8 Billion , hundreds of millions of dollars worth of new infrastructure at RAAF Base Amberley, and Delfin’s continued success at Springfield Lakes.
But what about South Brisbane? The $63.3 million Kurilpa Bridge is now complete (with the “Go Between” due to finish mid 2010); plus there’s still a genuine undersupply of rental accommodation and no new development planned for at least the first half of 2010.
It’s little wonder some local agents are spruiking the possibility of a seller’s market come Easter. As South Brisbane’s property specialist I know I’m massively biased, but it looks like South Brisbane property may see its own boom in the coming months – fingers crossed!
Tags: The Go Between Bridge, The Kuripa Bridge
Posted in Brisbane's future & new infrastructure, Brisbane's sales market, South Brisbane and South Bank | No Comments »
Posted by Rob Honeycombe on 2 January 2010
We’ve written before about the time required to sit on a body corp committee and our admiration for those who do. It’s thankless work and apartment buildings don’t run efficiently without them.
The big challenge is for committees to consider the needs of all owners and residents of the building. Volunteering to be involved doesn’t give you a right to run the place for your own interests alone.
A recent and worrying trend is for a body corp to issue a “no extra keys” ruling. Security is one of the main attractions to living in many apartment buildings and we understand the need to keep security swipes and keys to a minimum.
But in recent weeks a couple of inner Brisbane apartment towers have issued a new ruling that the body corp will only issue a maximum of 2 security swipes. No more.
The trouble is those owners who rent their apartments may have just been asked to breach the Residential Tenancies and Rooming Accommodation Act.
Section 210 requires the lessor (landlord) to give entry keys (including all swipes/fobs/cards to get in any door) to EACH and EVERY tenant.
So body corps are going to have to learn to live with the needs of their investor owners.
Unless you’d like to tell your owners of 3 bedroom apartments they can only have 2 residents. Or those in 2 bedroom apartments they can’t share a bedroom with anyone…
Tags: body corp committee Queensland, body corporate issues Queensland, Brisbane apartments, Residential Tenancies and Rooming Accommodation Act
Posted in Brisbane landlords | No Comments »
