CoreLogic: Brisbane property selling for big profits

first_imgKyle Hughes is selling the house he has renovated atEast Brisbane. Picture: Mark Cranitch.BRISBANE’S property market has chalked up more profitable sales than any other region in Queensland with the latest figures revealing nine in ten sales were for more than owners originally paid.According to CoreLogic’s latest Pain and Gain report, 92.8 per cent of property sales in Brisbane were for a profit in the December quarter and the median gross profit was $175,000.This was up from 92.4 per cent of sales in the previous quarter.Of the 7.2 per cent of sellers who sold for less than they originally paid the median loss was $26,000. CLICK here to get the latest real estate news direct to your inbox CoreLogic analyst Cameron Kusher said there was a pretty low proportion of houses reselling at a loss in Brisbane, 4.1 per cent, but for units there was quite a high proportion of 21 per cent. “That is an interesting trend that is kind of emerging, a lot of unit development is going on so we are starting to see the underperformance there,’’ he said. The Redland LGA where this home at13 Artic St, Thornlands is listed for sale had a high percentage of profit making sales. Picture:“But houses are still pretty sought after, particularly in the Brisbane and the Redlands Council areas, that’s where you are seeing the lowest proportion of resales at a loss overall.’Kyle Hughes and Margarita Escartin hope the results are good news for the upcoming sale of their East Brisbane home.The couple bought the home at 69 Gresham St, about ten years ago and have now listed it for sale through Henry Hodge of McGrath Estate Agents.The post war home has five bedrooms and is on a 706sq m block about 2km from the Brisbane CBD.Mr Hughes said the location was what had initially appealed to them because it was close to where their sons’ school.Over the years they have renovated it and completed the work about six months ago before deciding it was time for a change and to buy in northern New South Wales.“When we bought all of the structural work had been done,’’ Ms Escartin saidMr Hughes said they thought it was a good time to be offering the home for sale now and it was good that so many Brisbane homes were achieving profitable results.“We have seen some high sales in the area around here,’’ he said. Toowoomba LGA had the highest level of profit making sales in Queensland. This home at88 Taylor St, Newtown in Toowoomba is listed for sale. Picture: from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours ago THESE markets are swell locations Mr Kusher said other council areas were improving as well.Across the broader southeast Queensland region, Toowoomba had the lowest level of properties selling for a loss, 6.5 per cent, followed by Redland 7 per cent, The highest levels of loss were recorded in the Lockyer Valley, 19.5 per cent, Scenic Rim 15.5 per cent and Somerset 14.3 per cent.Some of Queensland’s regional markets fared substantially worse. Mackay continued to hold the honour of the highest proportion of loss making sales with more than half, 58.4 per cent, of properties, selling for less than owners originally paid.Fitzroy in Queensland had a 44.3 per cent level of loss making sales and Townsville 42.6 per cent.“I think it is going to take quite a while to turn them around significantly,’’ Mr Kusher said“If you look at Mackay for example, it did actually pull back a little bit, the percentage of loss making sales over the quarter. Same in Townsville, same in Fitzroy but they are still very elevated and it is going to take those markets a long time to improve because anyone that has bought over the last four or five years at least is going to see the value of their property significantly lower than what they purchased it for and that is ultimately the challenge.’’ LGA % OF LOSS MAKING SALES AND MEDIAN PROFIT Brisbane 92.8% – $175,000Gold Coast 89.9% – $117,000 Ipswich 88.2% – $70,500Lockyer Valley 80.5%- $64,500Logan 92.4% – $93,000Moreton Bay 92.2% – $80,000 Redland 93% – $100,000Scenic Rim 84.5% – $73,250 Somerset 85.7% – $54,750Sunshine Coast 90.7% – $102,000 Toowoomba 93.5% – $74,000last_img read more

House prices bounce back stronger despite disaster

first_imgBrisbane has seen a surge in development since 2011, much of which has centred around the riverfront suburbs. Picture: AAP/ Ric Frearson.In Brisbane, it had undertaken a study early this year that found 19 of the 20 suburbs affected by the 2011 floods outperformed the rest of the city.Five areas did so well they punched way above the city’s five-year growth rates of 26.7 per cent to deliver upwards of a 40 per cent rise in prices. Brisbane’s three-for-one home deal within reach of the city QLD to defy ‘mini credit crunch’ set to hit Sydney and Melbourne More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours ago Inner-city house sells for $2.7m“This is because these high-flood areas are well located on the river which is in high demand. Also, statistically floods like those in 2011 are a once-in-a-50-year event and that makes these homes a risk people are willing to accept.”He compared that to the two most impacted areas of Cyclone Yasi — Cassowary Coast and Hinchbrook located about 1225km from the Brisbane CBD — which saw 7.4 per cent and -1.9 per cent respectively, lower than capital growth in the rest of Queensland of 7.5 per cent in the five-year period. There was a huge emotional toll on homeowners during the Brisbane 2011 floods, but the market recovered for those able to hold on. Picture: Russell ShakespeareHe said some of that impact was also off weakness in the closest major city, Townsville, which had -5.7 per cent capital growth in the period.The study had found similar popularity-based results out of flood-affected Gippsland, Bass Coast, Baw Baw and Cardinia — located on average 78km from the Melbourne CBD — where the average capital growth in the past five years was 44.6 per cent, beating the rest of Victoria’s benchmark of 31.3 per cent.In comparison, around 126km from the CBD, houses in Latrobe and South Gippsland — which were also impacted by floodwaters — averaged a relatively low capital growth rate of 19 per cent in the same period.So too the Victorian Black Saturday bushfires where suburbs that were closer to the Melbourne CBD like Murrindindi and Nillumbik (around 50km away) saw an average 55.6 per cent growth — a much stronger performance than Indigo and Wellington (around 210km from the CBD) which saw 29.3 per cent. FOLLOW SOPHIE FOSTER ON FACEBOOK The Brisbane 2011 floods turned waterfront properties into islands. Picture: Russell ShakespeareHOUSE price growth is so watertight in some parts of flood-affected Brisbane, it can take whatever’s thrown at it, come rain, hail or high water.Market figures show rampaging city housing demand was the driving force behind why even disaster-hit areas that run the risk of future devastation still see house prices bounce back strongly.Riskwise Property Research chief executive Doron Peleg, whose firm studied the property price impacts of the 2011 Brisbane floods and 2011 Cyclone Yasi along with the 2012 Gippsland Flooding and the 2009 Black Saturday Victoria Bushfires, said it was all about popularity.“It really depends on the popularity of the areas. We found each of the natural disaster areas that were closer to the CBD delivered higher capital growth than areas that were a greater distance from the CBD. This is despite any unpredictable future impact of floods or fire.”center_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:56Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:56 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p512p512p400p400p228p228pAutoA, selectedAudio Tracken (Main), 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.Close Modal DialogThis 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 Rate1xFullscreenJuly 21: Aleisha Dawson talks property03:57last_img read more

Ivy Tech Community College Lawrenceburg Campus to host information session on Nursing Programs

first_imgLawrenceburg, IN—Ivy Tech Community College Lawrenceburg Campus is hosting an information session to discuss the Associate of Science in Nursing (ASN) programs, Practical Nursing (PN) program, and the Licensed Practical Nurse (LPN) to Associate of Science in Nursing (ASN) transition program.  These programs qualify for the recently announced EdOPP scholarship which was created to help improve Lawrenceburg’s workforce and help pay for a college education. Ivy Tech is awarding students on a first-come, first-served basis up to $5,000 a year. If a student receives federal or state aid the scholarship will be applied to any balance after aid is credited.The session will provide information regarding how the programs prepare students to earn nursing credentials, which local healthcare facilities often hire graduates, and high-demand career opportunities in nursing. In addition, important information about application deadlines, when classes begin, and eligibility requirements will be shared. The event is free and open to the public.The event is Monday, March 16 from 12:30 p.m. – 1:30 p.m. at the Lawrenceburg campus, room 534.For more information on Ivy Tech’s nursing programs visit, click here or contact Hannah Schuler at read more