The month in review: Brisbane
By Herron Todd White
April, 2010
Brisbane is brilliantly positioned to take advantage of both
the Sunshine Coast and Gold Coast holiday markets; Both
of these are already covered by far more knowledgeable
offices in the Month In Review but Brisbane still has
plenty of people who want to keep their weekends local.
For them, the bay islands have proved to be a winner.
Moreton Island is a prime example of an area that has
become a favoured weekend destination for many city
folk looking for what is known as a TGIF (thank goodness
it’s Friday) spot. Holiday shacks abound in Moreton
Island’s fishing village communities such as Kooringal
and Bulwer. The island is all sand roads and 4WD access
but it doesn’t mean you have to rough it without style.
The community of Cowan Cowan is a tasty beachfront
locale where plenty of high end earners relive their often
more modest childhood by picking up a slice of Moreton
nostalgia. There has been some major redevelopment
during the past decade and quite a few of the well-to-do
have picked up a beachside shack, which has promptly
been demolished to make way for their new getaway
place. Land with beach frontage is sitting about $1
million and the entry price for the area generally comes in
around the $700,000 mark. Villas in Tangalooma average
about $500,000, with houses approximately $800,000 – but there has been some sand kicked in the market’s
face. Sales on the island were growing steadily during the
boom times but there has next to nothing has change
hands during the past few years. So if Moreton is your
cuppa, it might be best to think long term.
Over to Bribie Island, which has long been unkindly touted
as ‘God’s Waiting Room’. The retiree market here takes up
a big slice of the action. The island is accessible by bridge
and has plenty of facilities for the water enthusiast.
The majority of units and townhouses are available for
holiday let and water view units around Woorim sell in
the high $300,000s. Detached homes can still be found
for about$290,000 for a lowest hardiplank house on a
500sqm block a little distance from the water. Our expert
says that although there has been some capital growth in
recent years, it’s more modest than that achieved in other
localities with a more diversified industry and buyer base,
such as Caboolture. This area is also riddled with investor
stock sold to non-locals. We suggest all buyers have their
prospective purchase checked out by experts BEFORE
they commit. This is particularly important if you’re from
out of town.
Our final offering is the barge-accessed North Stradbroke
Island. The suburb of Point Lookout offers an impressive
range of houses, from sixties and seventies knock about
fibro numbers through to high-end dwellings. Prices vary
greatly - land with water views down the beach will set
you back about $1 million, upmarket homes sell for up
to $1.9 million and a basic home unit can be found for
about $350,000.
The market saw some reasonable sales in 2007, very little
activity in late 2008-early 2009, a few sales in late 2009
and a couple more sales at the very start off this year.
Agents are now reporting that there has been a definite
fall in enquiry but that it has been more about the end
of summer that anything to do with global financial
problems.
|
