Winter Market Wrap-Up

with Bridget Gabites

INTERESTING MARKET INFORMATION... All Capital cities except for Hobart have recorded an increase in home values over the past 12 months The Combined capital city home values have increased by 4.9% over the past 12 months. Perth (8.3%) and Sydney (6.5%) have been the stand-out markets Brisbane has limited growth at 0.8%

The combined capital city index is showing a clear recovery trend on an annual basis Housing market conditions across the combined capital cities have been improving since May

2012 after a 7.7% peak to trough decline which lasted 19 months. On a rolling quarterly basis, home values have increased over 10 of the past 12 months.

Private treaty indicators suggest buyers are losing some leverage as homes sell faster and vendors offer less discount Last year average days on market was 59 days across combined capital cities, this years the

figure has dropped to 45 days. Last year the average discount offered from original list price was 7.1%, this year it has dropped

to 6.3%.

Auction Clearance rates are currently at their highest levels in three years Capital city auction clearance rates have been recorded at a week-to-week average of more than

63% so far in 2013. Throughout 2012, auction clearance rates were recorded at an average of 50.4% * All data as reported by RPData in their August Property Market and Economic Update, August 2013

Brisbane’s Highest Residential Sales so far this year…

9 GRIFFITH ST, NEW FARM - $5,200,000 27 EBLIN DRIVE, HAMILTON - $6,500,000

As reported in RP DATA, as at 23rd August 2013

Brisbane - Key Market Indicators The increase in Home values in Brisbane has been moderate when compared to most other

capital cities. Recording a 0.8% increase over the past 12 months to July 2013. Based on RP Data’s estimates there were 7,512 Brisbane house sales over the three months to

May 2013 and 2,902 unit sales, this sits slightly below the five year average indicating a potential supply drop moving into mid year.

Lending Changes The proportion of fixed rate mortgages is rising as consumers take advantage of low fixed rates. 19.1% of all new mortgages

committed on May 2013 were for fixed rate mortgages.

At the same time in 2012 fixed rate mortgages accounted for 12.4% of all commitments.

THE FIGURES…

A snapshot by Suburb so far for 2013, all reported data sourced from RPData.

THE GAP…

In 2012 The Gap reported a decrease in median house price of -2.2%, now more nearly halfway through 2013 and with 142 sales reported, we are seeing the median price hold consistently at around $550,000 for the past 4 months, this appears to be a slightly increase from earlier in the year - but could be due to a larger number of high end sales. Lowest Sale Price 2013 - $110,000 (Unit) Highest Sale Price 2013 - $1,650,000 (House) Average Sale Price 2013 - $537,000 Average 3 Bedroom House - $510,000 Average 4 Bedroom House - $621,000 Average 5+ Bedroom House - $849,000

NEWMARKET, ALDERLEY, ENOGGERA...

Whilst these three suburbs are close together and have similar buyer demographics there is still a disparity in prices between the suburbs. Alderley had a rise in median house sales prices of 5.8% in 2012 with Newmarket and Enoggera reporting 0.6% and 2.5% respectively, we believe this is due to the amount of renovation and subsequent high end sales in Alderley over the past year. The median high prices in all three suburbs over the past three months appear to be in the rise slightly. Lowest Sale Price 2013 - $220,000-$310,000 (Units) Average 3 Bedroom House - $465K (E) - $708K (N) Highest Sale Price 2013 - $1,235,000-$1,465,000 (Houses) Average 4 Bedroom House - $633K (E) - $982K (N) Average Sale Price 2013 - $495,000(E), $558,000(A), $666,000(N) Average 5+ Bedroom House - $599K (E) - $974K (A)

ASHGROVE, BARDON...

Both Bardon and Ashgrove reported sales growth of just over 2% in 2012 showing the stability of these popular suburbs even in a tough Real Estate market. So far 2013 has continued to be steady for both suburbs and we are now also seeing more high end properties changing hands at strong prices. Lowest Sale Price 2013 - $265,000 (B), $200,000 (A) Highest Sale Price 2013 - $2,835,000 (B), $2,075,000 (A) Average Sale Price 2013 - $781,000 (B), $678,000 (A) Average 3 Bedroom House - $651,000 Average 4 Bedroom House - $889,000 Average 5+ Bedroom House - $1,355.000 (B), $956,227 (A)

Would you like a more detailed report about your suburb? Or a specific Market Analysis on your property?

Simply email gabites@harcourts.com.au with your address (or suburb) and we’ll get a complete report to you within 48 hours.

NEWMARKET, ALDERLEY, ENOGGERA...

Whilst these three suburbs are close together and have similar buyer demographics there is still a disparity in prices between the suburbs. Alderley had a rise in median house sales prices of 5.8% in 2012 with Newmarket and Enoggera reporting 0.6% and 2.5% respectively, we believe this is due to the amount of renovation and subsequent high end sales in Alderley over the past year. The median high prices in all three suburbs over the past three months appear to be in the rise slightly. Lowest Sale Price 2013 - $220,000-$310,000 (Units) Average 3 Bedroom House - $465K (E) - $708K (N) Highest Sale Price 2013 - $1,235,000-$1,465,000 (Houses) Average 4 Bedroom House - $633K (E) - $982K (N) Average Sale Price 2013 - $495,000(E), $558,000(A), $666,000(N) Average 5+ Bedroom House - $599K (E) - $974K (A)

WINDSOR, WILSTON, GRANGE...

Wilston and Windsor have both continued to show great growth throughout 2012, even in a depressed market with 4.6% and 10% respectively. Grange has had a median price decrease of –2.2% which remains inline with most suburbs throughout Brisbane. Wilston's average median price (of $845,000) remains higher than both Grange and Windsor as a result of more properties with city views and larger blocks. With over 180 sales across these 3 suburbs so far in 2013 sales are strong. Lowest Sale Price 2013 - $205,000(Win)-$307,000(G) Highest Sale Price 2013 - $1,200,000(Win)-$1,680,000 (Wil) Average Sale Price 2013 - $589,000 (Win)-$719,000 (Wil) Average 3 Bedroom House - $498,000 (G) - $756,000 (Wil) Average 4 Bedroom House - $807,000 (G) - $860,000 (Wil) Average 5+ Bed House - $875,000 (Win) - $1,287,000 (Wil)

KELVIN GROVE, HERSTON...

Kelvin Grove has held steady growth overall during the past few years mostly due to the variety in the market with strong investor returns remaining due to University and Hospital as well as the proximity to the city keeping the suburb popular with owner occupiers. Kelvin Grove has been named by a number of market analysts as a key growth suburb for the coming years. Herston hasn’t faired so well with a drop of –5.7% in 2012 but should see growth off the back of Kelvin Grove’s increasing popularity. Lowest Sale Price 2013 - $350,000 (K), $320,000 (H) Highest Sale Price 2013 - 1,750,000 (K), $1,240,00 (H) Average Sale Price 2013 - $499,000 (K), $559,000 (H) Average 3 Bedroom House - $594,000 (K), $564,000 (H) Average 4 Bedroom House - $706,000 (K), $837,000 (H)

PADDINGTON, RED HILL...

Paddington and Red Hill surprisingly reported significant median sale price drops last year of –5.3% and –3.7% respectively, our research indicates that this drop was largely due to a lack of sales in the upper end of the market rather than a significant price reduction across the board. With 163 sales between the two suburbs so far this year, and with the median house prices showing a strong increase over the past 3 months (with Paddington increasing from a median of around $750K to over $900K) it looks like the market in these suburbs is stabilising and possibly increasing. Lowest Sale Price 2013 - $221,000 (P), $255,000 (R) Highest Sale Price 2013 - $3,150,000 (P), $1,500,000 (R) Average Sale Price 2013 - $853,000 (P), $682,000 (R) Average 3 Bedroom House - $785,000 (P), $662,000 (R) Average 4 Bedroom House - $1,241,000 (P), $937,000 (R) Average 5+ Bedroom House - $1,488,000 (P)

OUR RESULTS... So far in 2013 our office has SOLD 160 properties with 27 properties SOLD by Bridget Gabites

On average we sell our

properties in 24 Days

Street Records Bridget has recently set new street record prices off the following sales: 19 Picot St, Kelvin Grove - Highest Price on Street 60 Tait St, Kelvin Grove - Highest Price on Street 15 Stonehawke Place, The Gap - Highest Price on Street 19 Allambic St, The Gap - Highest Price on Street 36/72 Lorimer Tce, Kelvin Grove - Highest Price in Complex below Penthouse 2 Mareeba Rd, Ashgrove - Highest Price for unrenovated home sale on the Street

We average 15 groups of buyers through our first open home for each property and

over 50 groups throughout our average campaign.

Strong Sales numbers through in July as a result of decreasing interest rates and improved buyer confidence. Stock on the market has now significantly reduced as a result of interested buyer demand and this has resulted in slightly lower sales numbers in August. Buyer demand is predicted in continue outstripping supply t h rough Sept ember and

November which will result in a continued improvement in Market prices. We are seeing signs of the current “Sellers Market” continuing until the end of the year - meaning it is a great time to consider selling.

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SUBURB SNAPSHOT... KELVIN GROVE

Percentage of House Sales by Agent in

Kelvin Grove 2013

Bridget Gabites

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Kelvin Grove is a dynamic Inner City suburb approximately 2-3km’s from Brisbane CBD. Made up of a variety of types of property with a diverse community. The majority of properties are pre-war houses and newer apartments in the Village. The house market has continued to grow over the past 5 years with a 16.7% increase in value. In 2012 the increase was 5.3% and the graph to the left shows we are continuing to see strong sales figures in 2013. The apartment market has had an interesting shift over the past 7 years with the Urban Village being developed and adding over 1,000 new apartments in the suburb. This has caused short term oversupply but with the proximity with the CBD, QUT and RBH this market will continue to strengthen as the Village nears completion. When comparing current prices of apartments to Inner City areas in other states we expect this area to start showing value growth once the demand meets supply post development phase.

Our list to sell ratio sits at 91% This means that 9 out 10 properties

we list - we sell!

Bridget Gabites

LICENSED REAL ESTATE AGENT M: 0424 628 877 E: bridget.gabites@harcourts.com.au

www.bridgetgabites.harcourts.com.au