The home at 106 Dover Rd, Redcliffe.THIS renovated property has a unique style that will appeal to those chasing an alternative to the modern cookie-cutter home. Ann Pankov bought 106 Dover Rd, Redcliffe three years ago and set about extending the two-bedroom cottage into a four-bedroom, two-bathroom family home. “It was a renovator’s delight when I bought it,” she said. “It had 70s wallpaper and brown carpet but it was a good size and on a decent block.” The living area at 106 Dover Rd, Redcliffe.Outside there is a covered patio and deck area for entertaining. The home is on a 668sq m block with low-maintenance lawns and gardens. “This isn’t your standard display home — it’s got personality,” Ms Pankov said. “It would suit a family — it has four bedrooms, two living areas, and a big back yard. “It’s walking distance to a lot of (amenities) and it’s on a really friendly street.” The property is being marketed by Brendan Philp of Abode Properties for offers over $499,000. The kitchen at 106 Dover Rd, Redcliffe.Ms Pankov said she pretty much overhauled the entire home. “The original bathroom has been redone, an ensuite added and there is an extension with master bedroom, walk-in robe, a second living room and extra bedroom.” The split-level home has an open-plan dining and kitchen area, family room, living area, laundry and spacious family bathroom. More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019 The main bathroom at 106 Dover Rd, Redcliffe.The kitchen has stainless steel appliances, black and yellow splashbacks and dark cabinetry, and the main bathroom has a designer bathtub and pendant lighting. “My favourite room is the main bathroom because of the big freestanding bath,” Ms Pankov said. “That was the splurge during the renovation — it’s a great bath.” The master bedroom has a walk-in robe and ensuite and the remaining bedrooms have built-in robes.
The Palmer family made the move from Sydney last year, and will soon build their dream waterfront home at Stockland’s Newport precinct.A new waterfront home near Brisbane or a one-bedroom “house” on the 25th floor of an apartment building in Sydney?It was a “no brainer” for the Palmer family, who relocated back to the Sunshine Statelast year.For half the price of a shack down south, the family-of-five will build their castle 35km north of Brisbane. And they are not alone in making the move north.Recent data shows that interstate migration to Queensland more than doubled between June 2014 and June 2016, reaching 11,581.And sky high house prices were among the leading reasons why, with Sydney ranked as the second least affordable city in the world earlier this year.Brisbane came in at number 18, according to US-based consultancy Demographia.Housing affordability and financial planning expert Robert Snell, who lives in Sydney, said there was little doubt buyers got more bang for their buck in Brisbane.But he said the biggest issue was the widening gap between median wages and house prices, with Sydney increasingly out of reach for the average Aussie.“That’s why I think you will continue to see that migration north,” he said.“Quality of life due to housing inequality, in my opinion, is a real risk.”But Sydney’s loss could be Brisbane’s gain, at least in the short term.Mr Snell sees Brisbane offering a huge opportunity for younger people to get a foothold in the market.RPS Brisbane regional technical director for economics Mark Wallace said the median house price in Sydney was “effectively half” that of Brisbane, and interstate migration had reached its highest point since the 2002 to 2004 period, when Queensland recorded its largest ever influx from interstate.“We still have a long way to go to get back up there (2002-04 figures) but I would say we are very much at the start of the cycle,”he said.“Back then our response was reactive so we really need to ensure we are ready for another population increase and that we learn lessons from Sydney.”Position Property director Richard Lawrence said his agency was already seeing huge demand from interstate markets.“We are seeing a lot of people, particularly from Sydney, buying within 10km of Brisbane CBD,” he said.“They are moving for work but lifestyle and affordability are big factors, with many reclaiming up to 15 hours of their life by cutting commute times.”Mr Lawrence said the trend had “really ramped up” in the last 12 to 18 months, with interstate movers happy to relocate for a lower paycheck as it was often offset by lower cost of living.Stockland’s Queensland residential communities general manager Kingsley Andrew said they were also receiving a steady increase in homebuyer inquiries from interstate.“This trend is becoming evident in all of our key corridors, including the Sunshine Coast, northern Moreton Bay region, western Brisbane corridor and on the northern Gold Coast,” he said.So what can $1.1 million – a rough estimate of the cost of a house and land package with waterfront views at Newport – get you within 40kms of Sydney? Not much.You could get a one bedroom, one bathroom “house” on the 25th floor of an inner-city apartment complex for $1.18 million.For $1.18 million you could get this one bedroom ‘house’ on the 25th floor of an apartment complex in the Sydney CBD.Or you may be lucky enough to get a two-bedroom cottage in Balmain for around $1.1 million at auction, or a Surry Hills terrace with “courtyard” (above).Or invite the whole family around for a barbecue at this $1.1 million Surry Hills house.Mr Wallace said it was “not a case of if but when” the great southern migration would return to Queensland.“When this growth does happen, the big question is how do we ensure we have enough housing and infrastructure, maintain affordability and avoid too many negative impacts on the existing community,” he said.In its latest quarterly business outlook, Deloitte said “good news is building in Queensland”.“The big fall in project construction has now stopped, Sydney housing prices are sending refugees north of the Tweed, gas output is set to soar, and numbers of students and tourists flocking here haven’t (or haven’t yet) taken damage from the frisky Aussie dollar.”***CASE STUDY: The Palmer FamilyNewport, Redcliffe, developed by Stockland.More from newsParks and wildlife the new lust-haves post coronavirus1 day agoNoosa’s best beachfront penthouse is about to hit the market1 day agoWHEN the Palmer family began the search for their new home, the decision was an easy one.A $2 million cramped and rundown pad in Sydney or a spacious new waterfront home on the Redcliffe Peninsula.“It was a no brainer, really,” Adam Palmer, a chief information officer for a transport firm, said.Mr Palmer, his wife Peta, a senior accountant for a major insurer, and their three boys, Louis, 5, Benson, 3, and Wil, six months, moved back to Queensland last year, after spending six years in Sydney.They were able to move back in to their Scarborough home, but were keen to finally make their waterfront dream come true.That search found them at Stockland’s $590 million Newport community.“We wanted somewhere that was still close to family and friends but like somewhere you would happily go on holidays,” Mr Palmer said.“And I had always wanted a lakeside home and now that will be a reality.”Mr Palmer said the boys loved the water, and enjoyed fishing, swimming and collecting shells.“But I already have my eye on a boat,” he laughed.The family has purchased a 450sq m block overlooking what will be a 23 hectare non-tidal lake with access to an existing canal.They are currently working with builders and designers on their new home and hope to start construction mid-2018.“Our dream home will be a two-storey open planned house that looks out over a pool and the lake,” Mr Palmer said.“There will be a floating 40sq m deck over the water and a 17m jetty connected to that with a 15m cruiser hopefully moored there.“And there will be heaps of family and friends enjoying the entertaining spaces. That’s the dream.”It is a long way from the cramped apartment the family-of-five shared in Sydney.Stockland regional manager David Laner said they had seen strong early demand from potential buyers interest in Newport’s exclusive lakefront land.He said that popularity came on the back of significant interest in the developer’s other offering, canal blocks in the Quay precinct.“A total of 26 direct waterfront lots have already been snapped up at Newport, together with another 27 waterside lots in the Quay at Newport precinct,” he said.“Overall, we have sold almost 450 lots since launching last year.”Mr Laner said construction of the first lakeside lots had commenced, with completion expected in the second half of 2018.THE BASICSQUAY AT NEWPORTDeveloper: StocklandPrice: From $641,900Location: Sales centre on the corner of Griffith and Boardman Rds
44 Kempsie Rd, Upper Mount GravattA NEAR-NEW two-storey house at Upper Mount Gravatt sold for $922,500 under the hammer earlier this month.Ray White Mt Gravatt principal Grant Boman said the family home at 44 Kempsie Rd had generated a lot of interest because it was spacious and open despite being on a relatively small 405sq m block.The sellers designed the four-bedroom home, which was built in 2016, to make the most of the limited space availableMore from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020“They used the space well,” Mr Boman said. He added that the bidding started at $750,000 at auction on February 10. 44 Kempsie Rd, Upper Mount Gravatt“There were 10 registered bidders at auction,” Mr Boman said.“A young couple ended up buying it. They sold a townhouse last year and are planning to start their own family.”He and the sellers were happy with the result because it was much more than they thought it would sell for.Mr Boman recently sold two new family homes in the area that attracted a similar price. He said family homes that were move-in ready often attracted lots of potential buyers because they were in such short supply.
High-density dwelling commencements will plummet in Queensland this financial year, according to BIS Oxford Economics.The latest housing finance figures for January reveal more than 20 per cent of the loans taken out in Queensland during the month were by first home buyers.And nationally, demand for interest-only loans — usually taken out by investors — has dropped to a new historic low of 15 per cent of new lending, according to new figures released by the Australian Prudential Regulation Authority. RateCity.com.au money editor Sally Tindall said the results confirmed APRA’s interventions were having a marked effect on new borrowing. BIS Oxford Economics predicts Brisbane’s inner-city apartment oversupply will be absorbed.Mr Mellor is optimistic Brisbane’s inner-city apartment oversupply — set to peak at 14,000 excess dwellings — will be absorbed as buyers look to take advantage of the bargains on offer, resulting in a shift in demand away from houses.“We will get through this oversupply,” Mr Mellor said.“While we thought the damage would be restricted to inner Brisbane, some people, particularly young people may be attracted to the cheaper prices of apartments offered by developers.“It depends how big a fire sale it is.” HOUSE PRICES ON THE UP AFTER GAMES BRISBANE’S REAL ESTATE YOUNG GUNS INTEREST-ONLY LOANS HIT HISTORIC LOW Some developers have already slashed the prices of apartments in their projects to attract buyers and get rid of remaining stock.More from newsParks and wildlife the new lust-haves post coronavirus20 hours agoNoosa’s best beachfront penthouse is about to hit the market20 hours agoLast year, some units in the The Hudson on the former Albion Flour Mill site were discounted by up to 25 per cent. The Hudson in Albion reduced the prices of some of its units. Photo: Adam Armstrong.BIS Oxford Economics is forecasting a huge 25 per cent drop in high-density dwelling approvals this financial year, but expects the decline to be less pronounced in 2018/19.“The downturn has been heavily driven by apartment construction in Brisbane’s inner-city market,” Mr Mellor said.He said high-density dwelling construction had hit an unsustainable level, surging from around 3000 commencements to around 15,000 at one point. Cranes dot the Brisbane CBD skyline. Picture: Darren England.A MASS apartment fire sale could be set to swamp Brisbane in the next 12 months — allowing would-be first home buyers to finally get a foot on the property ladder. The inner city housing market is in the grip of an apartment glut thanks to a “record boom” in high-density dwelling construction, according to economic forecaster BIS Oxford Economics.But it means now could be the best time to bag a bargain.Managing director Robert Mellor is predicting a frenzy of discounting by developers to take hold for at least another year, with prices for remaining stock in some projects to be slashed by at least 10 per cent to 15 per cent. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE Construction underway in Fortitude Valley and Brisbane City. Picture: Richard Walker.Mr Mellor said developers had since reported a notable drop-off in demand from local and foreign investors, with Queensland “taking a bit hit”.“The good news is first home buyers are taking up some of the slack,” he said.When it comes to house prices, Mr Mellor predicts modest growth of 3 per cent in Brisbane this financial year, followed by another 3 per cent in fiscal 2019.“I’m sorry to tell you you’re not about to see a boom,” he said.There has been a significant shift in demand for home loans in Queensland, with investor loans down 2.5 per cent in the state from their peak two years ago and a 17 per cent increase in demand from first home buyers in that period.