Surely the researchers don’t expect us to believe this one!…. According to the 2010 Mercer Quality of Living survey Brisbane is not as good a place to live as the other Australian capitals. Based on 39 criteria, including political, socio-economic, environmental, health, education, and transport, the survey covered 221 cities worldwide and compared them to New York as the base city, which it ranked in 49th position.
Brisbane was in the survey’s 36th spot with Vienna taking the gold medal and Sydney just sneaking into the top 10 cities. Who are these people ranking us behind windy Wellington NZ and sleepy Canberra?! And as much as we’re proud of modern day Brisneyland are we really more liveable than New York, London and Rome?
We do agree with the choice for wooden spoon on their list though: Baghdad, Iraq. Although their house prices must be cheap by now…
Amongst the mile of changes to our tax system recommended by the Henry Review, there’s one that many in the property industry have dismissed out of hand. Mr Henry and Co. proposed that land tax should be paid by all property owners.
It’s controversial because it’d be a massive increase on the current land taxes that only apply once you own a minimum value of property (unimproved or UCV – see your rates notice for yours). In Queensland it’s currently $350,000 for company-owned or $600,000 for individuals (approx 2 good Brisbane houses).
But maybe the critics have been too hasty – and hear us out here! Henry suggests a simultaneous scrapping of stamp duties on the transfer of property, arguing this tax leads to inefficient use of our housing stock. A typical inner Brisbane house purchase costs the buyer $22,000 in stamp duty ($15,000 if they’re owner-occupying) and this high cost penalises the changeover of housing. Empty-nesters for example are staying in the 4 bedder long after the kids have left home and the spare bedrooms aren’t been used.
An ABS survey suggests one in six Queenslanders have been in their home for longer than 20 years. They also found 14% of us move to get a bigger place, compared to less than 3% who downsize. Addressing the housing affordability issue, Henry says less hurdles to moving will encourage us to a smaller place. Why not swap the spare bedrooms for a more modern place with other features we want?
The States will rightly be nervous of scrapping stamp duties, with more than 40% of their income coming from property transactions. But a broad land tax would be more predictable and allow better govt budgeting. Of course as real estate agents we love the idea – we’d vote for a mandatory 5 years maximum in your home!
But what do you think? Would you prefer to pay land tax or stamp duty? Please post your comments.
As the Bees Nees’ specialist in Woolloongabba I spend as lot of time in the suburb’s apartment buildings. In this series of posts on Woolloongabba apartments I’ve profiled some of them to give you a taste of life in this exciting suburb!
Gabba Central – 803 Stanley Street, Woolloongabba
Number of apartments
274
Developer
Barron Properties
Size and previous land use
7516m2 (almost 2 acres); Pub and second hand shops
Builder
Covecorp
Architects
Ferro/ Muller
Year of completion
2007 – stage 1 and 2008 stage 2
Amenities
Retail village with Coles supermarket, Jetts 24 hour gym, shops including the world-famous Purple Gorilla Burgers, lap pool and a resort style pool, gym, viewing deck level 7, media room, under ground secure parking
Other comments
One of Brisbane’s largest residential communities there’s 1, 2 and 3 bedroom apartments – mostly 2 bedroom designs, over 4 towers, all 7 storeys. Not all apartments in Gabba Central have been created equal and there’s a big variety of floorplans including several 2-storey designs (which are fairly unique in Brisbane’s inner city). The development is directly across the street from the Gabba Cricket Ground.
Recent sales
2 bed, 2bath, 1 car sold for $440,000 in March 2010; 1 bed, 1 bath, 1 car sold for $340,000 in February 2010. For an estimate of the current sale price of your apartment please call Tracey Green on 0400 792040 or email traceyg@beesnees.com.au
Current rents
2bed, 2 bath 1 car was rented for $490 per week in March 2010 ; For an over the phone estimate of current rents in Gabba Central please call our Property Management team on 07 3214 6899 or email info@beesnees.com.au
Views and aspect?
Varies according to location within the four towers. Some are inward facing while others have a good view towards the city or across the Gabba sportsfields.
Are pets allowed?
With approval in writing from the body corporate committee.
The developer's artist's impression
The completed Gabba Central Apartments
the kitchen of a Gabba Central apartment
The Gabba Central apartments have good quality finishes
Do you live in the Gabba Central apartments? Tell us what you think – we’d love to hear your comments!
For more info or an estimate on the current market price of your Gabba Central apartment please call our team
Today’s Friday so here’s the best we’ve seen on email this week to give you a chuckle!:
The exchange between Churchill & Lady Astor: She said, “If you were my husband I’d give you poison.” He said, “If you were my wife, I’d drink it.”
A member of Parliament to Disraeli: “Sir, you will either die on the gallows or of some unspeakable disease.” “That depends, Sir,” said Disraeli, “whether I embrace your policies or your mistress.”
“He has all the virtues I dislike and none of the vices I admire.” – Winston Churchill
“I have never killed a man, but I have read many obituaries with great pleasure.” Clarence Darrow
“He has no enemies, but is intensely disliked by his friends..” - Oscar Wilde
“I am enclosing two tickets to the first night of my new play; bring a friend…. if you have one.” - George Bernard Shaw to Winston Churchill. “Cannot possibly attend first night, will attend second…. if there is one.” – Winston Churchill, in response.
“His mother should have thrown him away and kept the stork.” – Mae West
“Some cause happiness wherever they go; others, whenever they go…”
- Oscar Wilde
Here’s a West End dining-out guide with a difference!! I’ve always found there’s plenty of choice at the restaurants and cafes along Boundary St - but these guys take dining out to a whole new level. If you live in Colville St or Dornoch Terrace you may have had visitors you didn’t know about… take a look here.
More facts, figures and photo’s than you can poke a stick at here! Historical images of the promotion and construction of the landmark “Torbreck” building on the top of Highgate Hill. Click here to take a look. If you’ve ever lived at Torbreck or you just drive past it and have wondered what’s different about this building you’ll find a lot of answers on this site.
You can’t write about the Gabba without at least mentioning the suburb’s most prominent feature, which of course is “The Gabba”. There would be very few Australians who would be unaware that it’s Brisbane’s cricket and AFL stadium (at least among the blokes anyway) so I’ll try to provide some interesting facts and trivia for you to impress your mates with!
The land for The Gabba was set aside for use as a cricket ground in 1895, though it was another 36 years before Australia played a test match there. Probably the most famous moment in The Gabba’s history would be the first ever tied test which was between Australia and the West Indies in the summer of 1960/61. The image of the deciding run-out (pictured) is one of the best known cricketing images of all time.
In Test cricket the average runs per wicket at The Gabba is 31.82, while the average runs per over is 3.1. The biggest individual innings was 226 by Don Bradman in 1931/32 and the highest team innings was 645 by Australia verse England in 1946/47.
I could give the best test bowling figures for an innings and a match but as they are both held by a certain Kiwi all rounder from the mid 80’s it’s actually against Bees Nees company policy to do so!
It takes more than 3 months to get the final data so it’s only now we can look back at 2009 and make an accurate assessment of what the Woolloongabba real estate market really did. And if it seemed just as slow as 2008 the graph below shows you’re right.
During 2008 and 2009 sales numbers for both houses and apartments have shown a 50% decrease in volume from the previous two years. This possibly shows owners holding onto properties during what everyone thought was going to be a tough time, and waiting for things to improve before putting their property on the market. The median house price for 2009 was $555,000 while for 2008 it was $620,000, though the figure for 2009 was also affected by first home buyers using the government’s $14,000 grant. Early figures for 2010 are optimistic albeit the number of properties for sale is low. When sale volumes are down sellers can see strong price results as there’s less competition.
If you’re considering selling your property and are weighing up an auction or private treaty (a priced listing) consider this: Price may be your best feature. That’s not to say your property might not have many appealing qualities… but when we write up that ad it’s going to look and sound like a million dollars. Which can be a problem if you’re chasing $500,000!
A survey conducted by realestate.com.au found 92% of buyers would be unlikely to enquire about a property with no price indication. So if your place sits in a busy part of the market a private treaty with a good agent can get you a great price quicker than an auction. We’re not anti-auction, we do several each year, but in our view they’re over-used by many agents who jam their clients into a one-size-fits-all method.
An auction can be the perfect solution for properties that are out of the ordinary, likely to draw more emotional interest (eg Queenslanders) and those that are in scarce supply. But for many properties a listed price is the first drawcard for buyers.
With a price or without, one key to getting a great result is showing buyers you are a committed seller. Why? Well with access to so much info today they are cynical and won’t get off their couch on a Saturday unless they think you are a genuine seller. They’ve seen the rubbish that fills the online portals and know that some agents will list properties on the web for sellers that are still very much undecided as to whether they will sell.
Some agents leave expired listings on the web to continue drawing enquiry. Some agents will delete the address or leave the apartment number off. One we know used to completely fabricate ads. Shocked? Buyers aren’t because they’ve wasted their time on these before only to be met with some lame excuse about “admin problems”.
And this is one big reason why newspaper ads continue to draw strong buyer enquiry in this very digital age. Every one of those sellers has put their hand in their pocket for advertising costs and in doing so proven their commitment to selling.
Buyers are buying and where they sense competition many are paying good prices. But if you’re to create that high level of interest you need to first show the market you are doing more than testing the waters – regardless of your sale method.
As the Bees Nees’ specialist in Spring Hill I spend as lot of time in the suburb’s apartment buildings. In this series of posts on Spring Hill apartments I’ve profiled some of them to give you a taste of life in this exciting suburb!
Number of apartments
121
Developer
Cramwood Developments
Size and previous land use
5247m2; Part of the Metro Ford caryards
Builder
Hutchinsons Constructions
Architects
Scott Peabody from Planit Architects and Scott Taylor from Terrain
Year of completion
2007
Number of 1 bedroom apts
51
Number of 2 bedroom apts
70
Number of 3&4 bedroom apts
0
Amenities
Large central gardens with pool and a gym
Other comments
Master planned with the adjacent Oxygen project, Trilogy’s design is focused on the green zone overlooked by the 3 buildings
Recent sales
Mar 10 2 bed 1 bth $420K, Oct 09 2 bed 2 bth $540K, Nov 09 1 bed 1 bth $365KFor an estimate of the current sale price of your apartment please call Bees Nees City Realty 07 3214 6800
Current rents
2 bed 2 bath rented in April 2010 for $550 unfurnished $640 furnished,1 bed 1 bath $400;For an over the phone estimate of current rents in Trilogy please call our Property Management team on 07 32146899 or email info@beesnees.com.au
Views and aspect?
Building 3’s upper floors look north toward Royal Brisbane Hospital (the top floor apartments have roof decks to make the most of the views)
The 'Trilogy' Apartments
Trilogy Pool Area
Do you live in the Trilogy apartments? Tell us what you think – we’d love to hear your comments!
For more info or an estimate on the current market price of your Trilogy apartment please call Rob on 0423 332 022.
