Forum Posts

Tracie Harrington
Nov 22, 2021
In Public Trustee Auctions
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Tracie Harrington
Nov 15, 2021
In Property Management
While rental rates are rising at the fastest pace since 2008, a gap has opened up between the rate of growth in house rents compared with unit rents, with unit precincts across the inner city areas of some capital cities recording a much weaker performance through the Covid period to date. Overall, unit rents have risen at a slower pace than house rents since the onset of Covid in March last year, with capital city unit rents falling by 5.7 per cent between April and December 2020. Unit rents have been consistently rising through 2021, but the rate of growth has been lower relative to houses. However, the more recent trend shows growth in unit rents is catching up to houses. The weaker trend in unit rents follows a similar trend in housing values, where house values (up 24.2 per cent over the year across the combined capitals) have risen at more than double the annual pace of unit values (up 11.8 per cent over the year). The softer performance of the unit sector can be attributed to a range of factors that generally come down to demand and supply side factors. On the demand side, there has been a preference shift towards lower density housing options during the pandemic, and the abrupt stalling in overseas migration has interrupted tenancy demand around key unit precincts. Annual change in rents, combined capitals Overseas arrivals and departures, Australia (million) From the supply side, the unit sector has only recently emerged from an unprecedented influx of newly built unit projects where construction activity has been skewed towards the high-rise sector of the market. A large proportion of this newly built unit stock has been centred within the inner-city rental markets, especially Sydney and Melbourne. Number of units under construction, major states However, the performance gap between the two broad property types has been narrowing for several months as rental demand is deflected back towards the unit sector where renting is more affordable. As rental demand for units improves, the number of advertised rental listings has dropped, converging with the trend in house rental listings which have been consistently falling (figure 4a). Between March and November of 2020, the number of units advertised for rent increased by 20 per cent across the capital cities while rental rates fell by 5.4 per cent. Over the same period, the number of house rentals advertised fell by 20 per cent and rents rose by 1.1 per cent. Inner city unit rentals were the primary driver of the surge in rental listings (figure 4b), with advertised rentals jumping 49 per cent between March and October 2020 across the inner-city precincts of Australia. At the same time, the remainder of the capital city metro regions (ie, excluding the inner city SA3 regions) actually recorded a 16 per cent drop in the number of units advertised for rent as demand increased for suburban rental accommodation. Since February this year the higher levels of inner city unit stock has reduced; by the end of October 2021, the number of inner city unit rental listings had fallen to 55 per cent below pre-Covid levels and 68 per cent below advertised rental stock levels in January this year. The rise and subsequent fall in inner city unit rental listings was most evident in Melbourne. The larger surge in inner city unit listings across Melbourne is likely a factor of a more substantial demand shock attributable to stalled overseas migration, along with the recent unit construction boom being largely concentrated within inner city precincts such as the Melbourne CBD and surrounding suburbs. Monthly number of rental listings, combined capital cities Unit rental listings : Inner city precincts v rest of capital city areas Prior to Covid, Melbourne was attracting the largest number of net overseas migrants, with a large portion of these students and visitors who gravitated towards inner city rentals. Sydney had a slightly lower level of exposure to net overseas migration as a source of rental demand prior to Covid, and new unit supply has been more geographically widespread rather than centred with inner city locations. Unit listings index, inner city precincts v rest of metro One reason for the increased interest in inner city unit rentals is likely to be the price difference. Through Covid, renting an inner city apartment has become more affordable in raw dollar terms and in relativity to renting a house. While capital city house rents are up 10.1 per cent since March last year, unit rents remain 0.3 per cent below pre-Covid levels, with inner city unit rents generally down the most. For example, in Melbourne, the median weekly rent on an inner city unit in March 2020 was $504, which was $56 a week higher than the median unit rent across the broader Melbourne metro region. By October 2021, inner Melbourne weekly rents were -18.1 per cent (-$91) below their pre-Covid high, with the median weekly rent reduced to $413, which is now $6 a week cheaper than the broader Melbourne metro median rent on a unit. In Sydney, renting an inner city unit is now -3.1 per cent (-$21 a week) cheaper than it was in March last year. Cumulative change in capital city rents since March 2020 : Houses v Units Top 20: Largest fall in rents, March 2020 to October 2021 Across the SA2 sub-regions of Australia, the largest falls in rents between March 2020 and October 2021 have all been within the Melbourne unit market. Eighteen of the top 20 are within inner Melbourne, while Caulfield and Clayton are located in Melbourne’s Inner South and South East respectively. The good news for landlords is that rents are now rising across each of the inner city unit precincts of Australia; even Melbourne inner city unit rents are 2.4 per cent higher over the three months ending October and 1.1 per cent higher over the twelve month period. Rental demand for inner city tenancies is likely to increase further as the CBD’s and inner suburbs become more vibrant as restrictions ease and workers gradually return to work. Once international borders open more fully, its likely demand for inner city unit accommodation will rise more substantially, especially as foreign students and international visitor numbers start to lift. However, the timing for a ‘normalisation’ of overseas migration rates remains highly uncertain, depending on government policy and appetite for traveling abroad. AUTHOR Tim Lawless
Signs Life Returning to Inner City Rental Sectors content media
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Tracie Harrington
Nov 11, 2021
In Finance
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Tracie Harrington
Nov 11, 2021
In Australian Housing Market
Land for development is facing an acute shortage in south-east Queensland as government incentives, low interest rates and interstate buyers conspire to turbo-charge demand. Pressure is growing on the Queensland government to release new land to meet the seemingly insatiable appetite for greenfield lots across the region. Avid Group general manager Bruce Harper says the supply and demand for land in south-east Queensland has always been a topical issue for developers, councils and the state government. “The industry feels we’re running short of supply. Even land that’s not likely to be zoned for development for up to 10 years has been optioned,” he says. Harper says most developers have consumed their developable land during the past 18 months. “Demand for lots has been way in excess of previous years—in some cases demand has been up to 100 per cent higher than normal. If anything, there’s a shortage of land.” And the availability of land has plummeted—less than 400 lots were on the market in September, a 70 per cent decline from the 1299 lots up for grabs in September 2020. There are a number of reasons demand for land has been so strong. One is the federal government’s HomeBuilder $25,000 grant, which has prompted many first home buyers to bring forward plans to purchase a property. “Sales have been extremely strong. If you can buy a block of land now, it’s usually off the plan, because there’s virtually no developed lots available in south-east Queensland. People are buying lots off the plan that won't be titled for six to 12 months,” says Harper. ▲ The Sunshine Coast’s Caboolture West has been earmarked by the Queensland government as a major growth area. CBRE residential development director William Poole says investors have been a driving force in the south-east Queensland property market demand. “Confidence in the housing market and wider economic recovery has spurred elevated activity levels in new dwelling investment and renovations.” Ultra-low interest rates are the other reason why buyers are clamouring for land. “It’s created demand we haven’t seen for more than a decade,” says Harper, who believes the market will only continue to strengthen as interstate buyers re-enter the market when state and international borders fully open. Land releases in pipeline The release of new land in south-east Queensland’s major development corridors and the delivery of infrastructure and services is critical to unlocking future supply. “Both state and local governments must provide clear infrastructure planning and accelerate land supply,” Poole says. Looking to future land releases, the Queensland government has anointed Caboolture West as a major growth area. Other new land releases are likely to be in Logan to Brisbane’s south and Ripley to the west. “This includes an allocation of funding to deliver critical infrastructure, including a sewerage pumping station. This will be instrumental in kickstarting the delivery of this major expansion area, which is eventually expected to provide approximately 30,000 homes for around 70,000 people,” says Poole. However, the lacklustre pace at which councils are approving developments, and the slow speed at which infrastructure such as water and power is being connected to greenfield developments, is placing upward pressure on property prices and causing frustration, say some developers. At the other end of the scale, land around the Gold Coast where there’s little greenfield land for development is likely to be very tightly held. “That area will come under substantial price growth pressure, as will the Sunshine Coast. There’s very little land other than the holdings at Palmview, of which we are part owner and Aura, held by Stockland, which we are developing,” says Harper. ▲ Avid Group’s Brentwood Forest at Bellbird Park in the western growth corridor between Brisbane and Ipswich. The Property Council of Australia’s Queensland executive director Jen Williams agrees the availability of readily developable land is a huge issue facing south-east Queensland. “Some corridors, such as Logan and Ipswich, have large parcels of land ready to bring to market. The planning work has been done in advance and infrastructure arrangements are in place to service expected growth,” says Williams. “However, other corridors, for example the Gold Coast and Sunshine Coast, are experiencing unprecedented demand for residential land. There simply is not the supply of land available to keep up with the demand for new housing. “Swift action will be needed over the coming weeks and months to fast-track development applications, streamline the structure planning process, and sort out the funding and delivery of infrastructure to get new supply on the ground.” Harper notes people have bought blocks of land that won’t settle for six to 12 months. At the same time, development approvals have been slow, effectively hamstringing the market. “Builders won’t enter a fixed-price contract for something that's not going to be delivered for 12 or 18 months. So the slowdown in build approvals is not an indication demand for land is slowing. “Developers are often accused of sitting on land banks to increase the price. But if you’re a developer sitting on land now, you’re developing it as quickly as you can because prices are high and demand’s high and you don’t know how long that’s going to last.” Looking ahead, Poole says Queensland’s affordability advantage over Sydney and Melbourne is an opportunity to reignite a new cycle of land supply releases over the short to medium term. “We are currently experiencing the highest levels of interstate migration in well over a decade,” he says. “The south-east Queensland greenfield property market benefited from domestic migration from Sydney and especially Melbourne as a result of Covid lockdowns. ▲ Future land releases are expected in Ripley to Brisbane's west. Image: Sekisui House's Ecco Ripley “Despite record price growth in Queensland during the past 12 months, it hasn’t been of the same magnitude as property price hikes in Sydney and Melbourne, which bodes well for the Queensland market medium-term.” In fact, Poole says, a new cycle of larger scale, high-rise development may not be far off as Brisbane prepares to host the 2032 Olympic. “Local and interstate developers have continued to grow their development pipeline of sites during the past two years. “The focus in Queensland is on inner-city nodes that benefit from existing access to services and amenities and are near major infrastructure projects such as Cross River Rail and Brisbane Metro. “In the meantime, smaller, higher quality developments targeting owner occupiers and downsizers continue to offer opportunities.” AUTHOR Alexandra Cain
No Lots Left: Behind Queensland’s Land Shortage content media
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Tracie Harrington
Nov 10, 2021
In Finance
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Tracie Harrington
Nov 09, 2021
In Brisbane House Sales
Not quite sure what the difference between a Buyer’s Agent and a Real Estate Agent is? It’s simple – a Buyer’s Agent (or Advocate) acts on behalf of buyers and a Real Estate agent acts for the sellers. Typically, Real Estate agents are there to get the best possible sale price for their seller’s property in the quickest time. They are born negotiators and skilled to tap into people’s emotions and key drivers to ultimately obtain an offer and property contract for their seller. Sure, they can help buyers as well, however if not handled with care, there could potentially be a conflict of interest within a transaction. In contrast, the Buyer’s Agent’s role is to get the best deal for their client, and use their experience and knowledge of the local property market and negotiating skills to secure the lowest possible price when the client is ready to purchase. A Buyers Agent does so much more than negotiate a property transaction, we can assist with the emotional burden, be analytical, working within budgets, adhering to client criteria, whilst guiding and nurturing the buyer to secure their dream property or investment property. Real Estate Agents and Buyers Agents can 100% work together – it’s a win win for all parties involved. We are both skilled property experts and have similar objectives however work exclusively for each party. There will never be a conflict of interest within a transaction and the whole process should be relatively seamless (as we will shelter our client of those “unexpected challenges” that can sometimes occur within a transaction. - Joanna Boyd - Buyers Advocate
Buyer’s Agent and Real Estate Agent – Yes, we can work together!!! content media
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Tracie Harrington
Nov 09, 2021
How to speed up your refinance process... content media
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Tracie Harrington
Nov 09, 2021
In Brisbane Rental Properties
Posted by Sinead Clarke on Oct 11, 2021 The COVID-19 pandemic has vastly changed the global and national landscape, from how we work down to how we exercise. Over the past two years, we have been forced to rethink how we live, with our homes becoming our office, classroom, gym and sanctuary. With all of this time spent in the home, some serious decisions have been made regarding the functionality and locality of where we choose to live. Some Australians have turned to home renovations and extensions to create more space and convenience, whilst others have looked to the countryside to provide the ultimate sea change. From Byron to Bargara rental prices are soaring, with city dwellers scouring the countryside in search of serenity, space and security. Is this mass exodus from the nation’s capitals only a short term trend or is the regional boom merely setting the price standard for years to come? Why is this happening? While it’s obvious that the pandemic is responsible for the high demand in regional areas, what is it exactly that is seeing so many people leave our metropolises for greener pastures? Domain chief of research and economics, Nicola Powell states that “people are moving away from the cities and, with interest rates being so low, spare cash from not travelling, and our homes becoming more important to us in COVID times, they’re making the change and buying in the country and on the coast.” Statistically, regional markets are booming while urban markets are reporting record high levels of vacancy, with the annual growth rate of regional dwellings being 13%, double that of urban dwellings. However, more factors have contributed to this than Aussies simply wanting a quieter lifestyle. With international borders firmly shut, the typical movement of immigrants and foreign workers in our capital cities has been almost non-existent, driving vacancy rates through the roof. Secondly, younger generations in regional settings move into urban areas at the beginning of the new year for schooling, tertiary education and more job opportunities. However, with working and schooling from home orders existing over the past two years, this annual relocation has not been feasible. Which areas are experiencing the biggest rental boom? It’s no surprise that Byron Bay and Noosa have been topping the nationwide regional markets since the beginning of the pandemic, with city dwellers swapping their short term holiday rentals for long term stays in Australia’s most luxurious beach towns. However, other regions have also seen large changes in rent when compared to this time last year. The Richmond-Tweed region in Northern NSW saw the biggest increase at 17.6%, with Central Queensland following shortly behind at 15.3%. Core Logic's research director, Tim Lawless states that “looking forward, regional housing markets remain well placed to record higher than average levels of demand, especially those markets that are located close enough to capital cities to provide a commuting option, and those lifestyle markets that are popular with sea and tree changers.” What does this mean for locals in regional areas? With many Sydney-siders moving out to the idyllic scenes of the North Coast, many locals have been left feeling the effects of the rental boom. With residents stating that more than 50 people are typically present at open homes in the area, and real estate agents encouraging hopeful tenants to increase their budgets and pay in advance to secure a property. Nathan Cardow, principal of Cardow and Partners Property Bellingen spoke to Domain, disclosing that the current regional property market is like “a bicycle shop, and we have no bikes left, we’re not selling much, and we’re not renting much.” However, it isn’t all grim news for locals, as the new regional rental boom has seen over 50,000 new homes built under the HomeBuilder scheme. The HomeBuilder scheme is an Australian Government initiative brought in during the pandemic to stimulate the economy by providing incentives for Australians building new homes. The homes built under this scheme are set to provide a magnitude of new housing options for locals and city-slickers alike.
Everything you need to know about the regional rental boom content media
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Tracie Harrington
Nov 09, 2021
In NDIS/SDA Accommodation
SDA SUPPLY REPORT - 2021 content media
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Tracie Harrington
Nov 08, 2021
In Brisbane Rental Properties
2nd June, 2021 Renting in Brisbane at the moment is quite a perilous adventure. Long term tenants are for the first time experiencing doubt with their tenancies. Landlords are reviewing their options and they are looking at what kind of asset they have. Should they add on a granny flat, should they subdivide, renovate and then move back in or should they sell? There are so many options at the moment for Landlords to consider and of course they impact on Tenants. ​ With the cash rate being so low in the current market Landlords have a better chance of gaining a higher return on their investments. ​ Tenants are really feeling uneasy, especially knowing that their tenancies are expiring. Tenants realise that the market is so tight and that finding a new property to rent is definitely not in their favour. All of my tenants have accepted new 12 month tenancies and the increase in rent that he market demands. ​ I have a tenant who was supposed to move out over 1 month ago but because she has not found a property as yet she has not been able to vacate. Our Landlord is a gem and he understands (however he is selling his own home and he will need to move back into his property soon. We are working with the Tenant and the Landlord in order to find a solution that will suit everyone. ​ Many tenants are having to move to properties that they would not usually choose, simply because there are not enough rental properties available. ​ Tenants have told me that they have had to move into houses with their families and they have had to store their possessions. If you have tried to rent out a storage container you will know that there is a huge shortage. This is why I have seen storage pods pop up on people.s front lawns - they are staying there for quite a while. - Tracie Harrington
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Tracie Harrington
Nov 08, 2021
In Property Management
2nd June, 2021 Renting in Brisbane at the moment is quite a perilous adventure. Long term tenants are for the first time experiencing doubt with their tenancies. Landlords are reviewing their options and they are looking at what kind of asset they have. Should they add on a granny flat, should they subdivide, renovate and then move back in or should they sell? There are so many options at the moment for Landlords to consider and of course they impact on Tenants. ​ With the cash rate being so low in the current market Landlords have a better chance of gaining a higher return on their investments. ​ Tenants are really feeling uneasy, especially knowing that their tenancies are expiring. Tenants realise that the market is so tight and that finding a new property to rent is definitely not in their favour. All of my tenants have accepted new 12 month tenancies and the increase in rent that he market demands. ​ I have a tenant who was supposed to move out over 1 month ago but because she has not found a property as yet she has not been able to vacate. Our Landlord is a gem and he understands (however he is selling his own home and he will need to move back into his property soon. We are working with the Tenant and the Landlord in order to find a solution that will suit everyone. ​ Many tenants are having to move to properties that they would not usually choose, simply because there are not enough rental properties available. ​ Tenants have told me that they have had to move into houses with their families and they have had to store their possessions. If you have tried to rent out a storage container you will know that there is a huge shortage. This is why I have seen storage pods pop up on people.s front lawns - they are staying there for quite a while. - Tracie Harrington
Renting in Australia with House Prices Going Through the Roof content media
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Tracie Harrington
Nov 08, 2021
In Property Management
Through a commitment to continued education and absolute client satisfaction, the team at Harringtons Realty has developed into one of the top places to invest in real estate for Brisbane residents. Whether we are looking for property for sale or the chance to sell our own piece of property, a talented real estate team can make the process easier than ever as well as more profitable. ​ Let's explore how we can invest in real estate with a bit of help from the team at Harringtons Realty. ​ Invest in Real Estate Today: Property For Sale to Fund Your Portfolio ​ The real estate industry is one of the most import ant sectors on the planet when it comes to increasing value through hard work and dedication. Buying, selling, and renting properties are all part-and-parcel of the experience with Harringtons Realty so let's explore how this process can benefit YOU! ​ Reliable & Experienced Team — Harringtons Realty was founded by Tracie Harrington, the lead and Managing Director at the company. With more than $3b in property investment management throughout her career, Tracie is ready to leap into action to help her clients accomplish their dreams to invest in real estate. Locals You Can Count On — Harringtons Realty is based out of Brisbane and the team is proud to serve clients throughout Bulimba and its surrounding suburbs. Reliable help just a phone call away from a team that grew up in the region, who doesn't want that? Build a Diverse Portfolio — Tracie is the perfect professional to guide you a diverse real estate portfolio. Take some time to browse the available listings both for sale and rent at Harringtons Realty for a taste of what to expect! ​ Whether we are looking for property for sale so that we can invest in real estate, or we simply want to live in a nicer home, Harringtons Realty can help make our goals a reality. Contact the team today for a friendly conversation about your real estate goals.
Invest in Real Estate content media
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Tracie Harrington
Nov 08, 2021
In Property Management
From 1 January 2022, at the commencement of a new lease or lease renewal, you must ensure your dwelling / unit meets the requirements of the domestic smoke alarm legislation. This may involve installing interconnected photoelectric smoke alarms into the bedrooms in addition to the currently required smoke alarms. With all other dwellings including owner occupied homes transitioning to full compliance by 2027. ​ Know your obligations and avoid loss of income or worse. At Harringtons Realty we make compliance simple and hassle free. We do the work for you. You can rest easy knowing we’ll keep you in line with legislation. ​ Watch this terrific informative video for more information from Queensland Fire Service. - Smoke Alarms Australia
SMOKE ALARM LEGISLATIVE CHANGES content media
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Tracie Harrington
Nov 07, 2021
In Australian Housing Market
The construction industry is patching up the cracks from Covid lockdowns with a “healthy” recovery in activity recorded, particularly for apartments. A strong level of construction activity is expected over the next 12 months, according to the Australian Performance of Construction Index, which increased by 4.1 points in October. New enquiries were also streaming in for projects with a big uplift in apartment building activity. Apartment activity jumped 14.3 points to 64.3 in October, compared to an average of 46.4 in the past 12 months. A score above 50 in the Australian PCI indicates expansion of activity while under that indicates a contraction, with the distance from 50 indicating the severity. This compares to last year when some of the country’s top builders for apartments were outpaced by those who specialised in detached dwellings. However, the pipeline is expected to further stretch skilled labour and material shortages, which are facing crunch time. Australian Performance of Construction Index Activity October Monthly change 12 month average Apartment building 64.3 14.3 46.4 House building 51.9 12.3 58.3 Commercial building 62.5 21.3 52.4 Engineering construction 76.9 15.1 55.1 Australian PCI 57.6 4.3 55.0 Employment 56.8 -0.2 58.5 New orders 58.7 -0.2 54.6 Supplier delivers 41.3 -1.3 51.7 Input prices 97.2 -1.2 89.4 Selling prices 78.3 -0.5 71.1 Average wages 75.1 -1.5 67.9 ^Source: Australian Industry Group and HIA HIA economist Tom Devitt said housing market confidence had bounced back as restrictions in Sydney and Melbourne eased. “A healthy volume of new detached home sales is still entering the pipeline, six months after the end of the HomeBuilder stimulus,” Devitt said. “Apartment construction activity also jumped in October. “There has been a recent improvement in apartment approvals in New South Wales, Queensland and Western Australia. “A surprisingly large number of multi-units also commenced construction in the June 2021 quarter. This will be helping support construction activity in October.” Ai Group’s chief policy advisor Peter Burn said the states in lockdown were playing catch up but there were still challenges ahead. “A high volume of new orders in October added to the already healthy pipeline of building and construction activity and will further stretch capacity limits and re-expose underlying shortages of skilled labour in many occupations over coming months,” Burn said. “Pressures on input prices are being exacerbated by localised shortages and the more general disruptions to global supply chains. “With the pace of wages growth also running high, builders and constructors are testing their ability to recover some of their higher costs from customers with some success.” AUTHOR Renee McKeown
Apartments Leading Way for Construction Recovery content media
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Tracie Harrington
Nov 05, 2021
In Brisbane House Sales
Whether you are looking for a higher-end purchase or a beginning investor, I think these are the Brisbane suburbs that are set to take advantage of the changing face of the city. In addition, while growth is on the mind of every investor, importantly these locations could also be considered recession-resistant. Why? Each of these noteworthy suburbs are close to major employment hubs, they have bulletproof school catchments and immediate access to public transport and local infrastructure. Here, they’re listed in order of the highest to lowest median property price, revealing data from Domain Group and Real Estate.com.au. 1. New Farm / Teneriffe Total population: 12,534 & 5,341 Average age: 20-39 Median property price: $1,827,500 & $2,000,000 When they said property is as safe as houses, they were probably thinking about New Farm and Teneriffe. This incredible inner-city suburb has all the ingredients for a bulletproof investment. It has premium lifestyle precincts, high walkability, low commute times and great school catchments, all a stone’s throw from our biggest employment hub, the rapidly expanding CBD. 2. Ascot Total population: 5,787 Average age: 40-59 Median property price: $1,597,000 Ascot is right in the middle of Brisbane’s two largest (and rapidly expanding) employment hubs: the CBD and the airport precinct. While apartments have taken a back seat due to nearby oversupply issues, houses continue to go from strength to strength. Another suburb with an iconic café strip, strong school catchment and an easy train or ferry ride into the CBD. 3. Highgate Hill Total population: 6,195 Average age: 20-39 Median property price: $1,272,500 With a quiet neighbourhood just a stone throw from West End, South Bank and closest to the City, Highgate Hill is probably one of the best suburbs in Brisbane. It’s peaceful with good dining options and combined with recent and upcoming infrastructure developments such as new roads, transit, schools, hospitals and other major infrastructure projects, the area creates great opportunities for business and investors alike. While the whole suburb is primed for growth, the streets which fall within the catchment area for Brisbane’s best school, and those with sweeping city views are in especially high demand. 4. Wilston Total population: 3,949 Average age: 40-59 Median property price: $1,162,500 Wilston already has a real community spirit with a very strong school catchment and café strip that locals flock too. This suburb has really gentrified over the last few years with old workers cottages, replaced with bigger, modern contemporary homes. Pros include a railway stop and a new Northern Busway, it is primed to take advantage of the Brisbane Airport expansion. 5. Ashgrove Total population: 13,046 Average age: 40-59 Median property price: $1,105,000 With a cosy neighbourhood feel, while only being four kilometres north-west of the city, Ashgrove is a convenient suburb for established professionals and families who want a little room to move without having to move too far away from the city centre. 6. Taringa Total population: 8,381 Average age: 20-39 Median property price: $1,000,000 Taringa is a great suburb – lovely and green, close to the city, good transport with a train station and buses plus you get all the benefits of living near a university (sporting fields, cinemas, cafes and restaurants). The suburb is multi-generational but perfectly suits families, young working professionals and university students due to the nearby iconic schools, public transport options and entertainment precincts. 7. Tarragindi Total population: 10,793 Average age: 40-59 Median property price: $863,000 Tarragindi is a small suburb of just 8 streets and a strong family feel and excellent infrastructure. The short commute to CBD via Pacific Motorway or access via bus at the Holland Park Busway is a huge bonus for those rightfully keeping ‘neighbourhood’ at the forefront of their minds. 8. Holland Park Total population: 8,097 Average age: 20-39 Median property price: $826,000 Holland Park is widely talked about as a suburb that has the benefit of great easy access to Brisbane City while still being surrounded by amazing parklands, excellent schools, charming cafe’s, bars and restaurants. 9. Cannon Hill Total population: 5,539 Average age: 20-39 Median property price: $812,000 Cannon Hill is considered one of the best suburbs in Brisbane for its real estate and lifestyle potential, with the property market having moved exponentially in recent years. The area has good schools, a train line, and the gentrification of shopping centres and older homes. 10. Wavell Heights Total population: 9,691 Average age: 40-59 Median property price: $762,000 Another high demand market thanks to its close proximity to many amenities and transport. The suburb is within a few minutes of Chermside Shopping Centre and only 10 minutes travel time from the airport and CBD. 11. Mansfield Total population: 8,695 Average age: 40-59 Median property price: $727,500 Thanks to great infrastructure and high demand for school catchment areas, Mansfield is one of the most sought after pockets in the south-eastern suburbs of Brisbane. Local commercial and retail development and expansion in Mt Gravatt also primes the suburb for more growth in future. 12. Stafford Total population: 9,552 Average age: 20-39 Median property price: $670,000 Stafford is surprisingly close to everything from choices of shops, schools, hospitals, to the city and transport making the suburb extremely easy to live in and get around. Combined with it being a notoriously high-demand market with consistent property price growth, it’s no wonder the suburb is at the top of so many investors’ lists. 13. Stafford Heights Total population: 6,821 Average age: 20-39 Median property price: $652,125 Just over the hill from big brother Stafford, this suburb has started to hit it off with families and investors alike. With a number of retirees moving on and government housing hitting the open market, professional couples and families started to take over and put some money into the area, spending up big on their homes and transforming the neighbourhood to a more desirable one. 14. Chermside West Total population: 6,449 Average age: 40-59 Median property price: $637,500 Chermside West offers the best of both worlds: it’s close to retail and business hubs, but it also offers a quiet retreat from its busier neighbouring suburbs. Add to that two major Hospitals and a strong school catchment, you start to understand that it has strong investment credentials. 15. Keperra Total population: 6,791 Average age: 20-39 Median property price: $570,000 Arguably the most value of any Brisbane suburb, with a strong community feel and still very low key. This suburb has awakened since a number of train stations have been planned for the area, better connecting it to greater Brisbane. Limited stock of property and quick property sales has also imposed a demand which will only continue to push up prices for properties. Brett Warren
15 Best Brisbane Suburbs to Invest in 2021 content media
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Tracie Harrington
Nov 05, 2021
RTA Webinar : Changes to Queensland's tenancy laws content media
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Tracie Harrington
Nov 05, 2021
In Tenancy Information
RTA New Laws Webinar content media
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Tracie Harrington
Nov 05, 2021
In Property Management
Housing Legislation Amendment Bill 2021 The Housing Legislation Amendment Bill 2021 (HLA Bill) received royal assent and became law on Wednesday 20 October 2021. However, it’s important to remember that not all changes commence immediately. Queensland's new legislation, which is administered by the RTA, amends the existing legislation: Residential Tenancies and Rooming Accommodation Act 2008 Residential Tenancies and Rooming Accommodation Regulation 2009 Residential Tenancies and Rooming Accommodation (COVID-19 Emergency Response) Regulation 2020. The amended Act and Regulations will be made available by the Office of the Queensland Parliamentary Counsel in the coming days. As Queensland’s rental authority, the RTA will continue to administer the legislation and provide training, education, forms, resources, compliance and support services to guide tenants, property managers and property owners through these important changes to rental laws. The RTA will continue to work with the Queensland Government and the Queensland renting community to ensure everyone has access to timely, accurate and impartial information, resources and education about changes to residential tenancy laws. We strongly encourage Queensland tenants and property owners/managers to subscribe to RTA News to stay up to date on the latest announcements. What is changing and when? While the new tenancy legislation has been made law, it’s important to remember that not all changes commence immediately. The first change to be introduced is to provide options for people experiencing domestic and family violence to end a tenancy, which commenced on 20 October 2021. The remaining reforms will be implemented in phases over a three-year period to ensure the sector has sufficient time to prepare for, understand and adopt the changes. Summary of implementation times Domestic and family violence protections Commenced 20 October 2021 Framework for all parties to negotiate renting with pets Will commence on proclamation on a date yet to be set Changes to approved reasons to end a tenancy Will commence on proclamation on a date yet to be set Minimum housing standards Due to commence 2023–24 You can read more about the intention of the Bill in the explanatory notes. Learn about the changes to RTA forms. Domestic and family violence protections Commenced 20 October 2021 Options for people experiencing domestic and family violence to end a tenancy have commenced. These arrangements are similar to those that were in place as temporary measures during the COVID-19 pandemic period with some changes made based on learnings from the COVID-19 implementation. These changes confirm that tenants/residents vacating a rental premises on grounds of experiencing domestic and family violence: can vacate immediately but must provide 7 days notice and pay rent until the end of the 7 day notice period must complete a Notice ending tenancy/residency interest (domestic and family violence) (Form 20, R20) and provide relevant evidence (such as a Domestic and family violence report) are not responsible for costs relating to ending of a tenancy/rooming accommodation agreement or interest, goods left behind in the rental premises or reletting costs are not required to repair or compensate the property manager or owner for damage to the premises or inclusions caused by an act of domestic and family violence experienced by a tenant/resident are still responsible for costs associated with breaching terms of an agreement which are not related to the domestic and family violence (for example, rent arrears or damage to the property by a pet) can request their bond contribution be refunded by completing a Bond refund for persons experiencing domestic and family violence (Form 4a). Property owners/managers can also request a rental bond refund for a tenant/resident’s bond contribution where a tenant/resident has vacated due to domestic and family violence by completing this form any remaining tenants/residents can be asked by the property owner/manager to top up the rental bond within one month by issuing remaining tenants/residents with a Continuing interest notice strictly between 7-14 days only after a vacating tenant/resident’s interest in the agreement ends can change the locks to the property without requiring the property owner/manager’s consent to ensure their safety but must provide copies of keys or access codes to the rental property owner/manager as soon as practicable. It is critical that property owners/managers maintain the privacy of a tenant/resident who is experiencing domestic and family violence to ensure their safety. Penalties apply if the legislative requirements are not followed. Every person has the right to feel safe and live free from violence, which is why ending domestic and family violence is a community responsibility. Help and support is available for Queenslanders affected by domestic and family violence. Framework for all parties to negotiate renting with pets Will commence on proclamation on a date yet to be set Once implemented, these changes will support parties to reach agreement on renting with pets. Prescribed reasonable grounds for refusing a request for approval to keep pets will be introduced (such as keeping the pet would breach laws or by-laws). Strict timeframes will also apply for property owners/managers to respond to any requests for a pet or the request will be considered approved. Supporting information and resources on this future change will be made available closer to implementation. . Changes to approved reasons to end a tenancy Will commence on proclamation on a date yet to be set Once implemented, these changes will remove the option to end a tenancy without grounds and instead provide tenants and property owners/managers with a wider range of specific grounds on which to end a tenancy with appropriate notice with prescribed notice periods. New grounds (reasons) for owners/managers to end tenancies will include the end of a fixed-term agreement, to undertake significant repair or renovations, change of use or sale or preparation for sale of the rental property requires vacant possession. New grounds for tenants to end tenancies will include the property is not in good repair or does not comply with minimum housing standards. Supporting information and resources on this future change will be made available closer to implementation. Minimum housing standards Due to commence 2023-24 Minimum housing standards will apply for new tenancy agreements from 1 September 2023, and apply for all tenancies from 1 September 2024. By prescribing minimum housing standards, clarifying repair and maintenance obligations and introducing compliance mechanisms to strengthen the ability to enforce these standards, the Queensland Government aims to ensure all Queensland rental properties are safe, secure and functional. Supporting information and resources on this future change will be made available closer to implementation.
Rental Law Reform, 2021 content media
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Tracie Harrington
Nov 05, 2021
In Property Management
Are you always looking for Trades but they never show up or they are no good? Well, I am here to solve that problem for you! Below you will find a list of my preferred tradespeople and their contact details. When you contact them please tell them that I have recommended them. They will take special care of your needs. Appliance Repairs After Sales Appliance Repairs - Parry - 07 386 7777 Bookkeeping Aegis Business Services - Tori - 07 3207 1030 Building & Pest Inspections Site Wise Consultancy & Inspections - Steve - 0408 661 149 Carpenter BJK Contracting - Brendan - 0434 952 767 DJT - Darren - 0433 382 900 Carpet Supplier & Layer Carpet One - Stafford - 07 3856 6550 Cleaning KPS Cleaning - Bianca - 0450 088 617 Conveyancing Alex Kyriakides - Atlas Lawyers - 0488 479 442 or 1300 857 569 or ak@atlaslawyers.com.au Electrician Lesside Services - 07 3394 4133 Point to Point Electrical Services - 0474 772 759 Gardener DJT - Darren - 0433 382 900 Levi's Lawn Mowing - 0415 190 092 Grant Specialists Phoenix Jara Grant Specialists - 07 3519 4984 or admin@phoenixjara.com.au Handyman DJT - Darren - 0433 382 900 Hire a Hubby - Glen - 0424 756 586 Mortgage Broker Wayne Stoios - 0490 764 403 - wayne@pivotalfin.com.au AMD Finance - Daniel Dos Santos - 0411 231 026 Pest Control Black & White Pest Control - 07 3200 0288 Proactive Pest Solutions - 1800 979 611 Plumber Tubeline Plumbing - Marty - 0427 696 710 Pool Maintenance Reliable Pool Care - Mitch - 0411 953 521 Smoke Alarms Smoke Alarms Australia - Alena - 0438 186 855 Tax Accountant SWOT Accountants - Derek - 0412 062 982 or 07 3826 2407 or dg@golda.com.au I will continue to update this list throughout the year so please check back if you need proven, reliable contractors. - Tracie Harrington
Preferred Trades content media
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Tracie Harrington
Nov 04, 2021
In Talking Property Newsletter
Are you looking to move before Christmas? In order to have your house sold before Christmas we need to get cracking! - From the time we meet, allow 1 week to start the process. - 2-3 weeks to sell - 30 day Settlement - Overall, a sale can take up to 7 weeks from start to finish! There are some major changes for Landlords, I have included a video in thsi newsletter which will allow you to learn all about the new laws that have been passed in Queensland parliament, "The Housing Legislation Amendment Bill 2021", providing more rights to tenants around ending leases, ensuring there are grounds for evictions, and pets within rental properties. The new laws enact minimum quality standards and also extend protection for renters who have experienced domestic and family violence. For all property investors with residential tenants, it is well worth familiarising yourself with how these changes may affect you. Of course, I am always available to discuss any of your real estate matters or concerns. In other news, whilst the RBA has held the interest rate steady for another month, the regulator is targeting people's borrowing capacity. APRA has introduced some new rules that add a larger buffer on top of the interest rate, so you will be assessed on your capacity to repay with a 3.0% buffer that was previously 2.5%. What this equates to in real terms, is that if the loan you are applying for is set at 2.09%, you will be assessed on whether you can repay the loan if the rate increased to 5.09%. Feel free to contact me if you have any questions.... Tracie Harrington 0405 540 646 or tracie@harringtonsrealty.com.au The Best Jacaranda Walks in Brisbane New Farm Park NEW FARM The New Farm Park rose garden isn’t the only springtime sensation to grace the park’s grassy fields. This iconic riverfront retreat is also home to one of the city’s oldest and largest displays of jacaranda trees. Over 146 trees spring to life in October every year, drawing anthophiles (read: floral enthusiasts) far and wide. Pro tip: be sure to visit on a weekday if you’re looking to avoid the crowds. Brisbane Botanic Gardens MT COOT-THA A stroll through the Brisbane Botanic Gardens is always a good time, but spring truly makes the gardens come to life. The self-guided walks are a great way to explore the exotic shrubbery, and see Australia’s natives in full bloom. Admire the jacarandas lining the main ring road, or wander through the gardens to find the perfect place for a purple picnic. Can’t make it over to the west side? Don’t stress—the City Botanic Gardens also burst with jacaranda blue every year. Princess Street FAIRFIELD When you’re chasing purple rain, a trip to the local cemetery probably seems like a strange suggestion. We hear you—and yeah, it’s a little out of left field. But trust us, the hallowed ground of Dutton Park Cemetery is the perfect place to appreciate the new life that blossoms every year in the warm winds of spring. Just be sure to pay your respects to the dearly departed, or risk a visit from some particularly disgruntled ghosts. Captain Burke Park KANGAROO POINT Bring a burst of colour to your Sunday morning stroll courtesy of Kangaroo Point’s Captain Burke Park. Take in the dockside’s stunning river views as you walk beneath the jacarandas’ signature purple petals on your way to the Story Bridge. Swing by Moonshine Coffee Roasters for a morning pick-me-up (of the caffeine-kind, we swear), not to mention doughnuts so good you’ll be drooling for days. Mmm, doughnuts... The University of Queensland ST LUCIA For UQ students, the pops of purple that shower St Lucia every spring can mean only one thing: SWOTVAC is right around the corner. But don’t let the daunting threat of 8am exams prevent you from exploring the campus at the prettiest time of year. A walk under the purple canopies is just what you need to clear your head, and let those lectures sink in. Of course, coffee doesn’t hurt, either. Even if you aren’t a student, don’t let that keep you off campus: the uni has its very own CityCat terminal, not to mention a busway stationed right outside UQ Lakes. We promise, it’s purple galore—just keep an eye out for stressed-out uni students getting in some last-minute cramming beneath the trees. Wilson Outlook Reserve NEW FARM Watch the world go by under the shade of a coolibah jacaranda tree at this stunning spot overlooking the Story Bridge. Wilson Outlook Reserve is packed with purple beauties and city views to boot. Better still, it’s a great alternative to the crowds of New Farm Park, without having to stray too far from the area. Make sure your phone’s charged for some stellar shots. Jacaranda Park YERONGA Yeronga’s aptly-named Jacaranda Park certainly delivers on its promise of purple plumes. The jolt of jacarandas lining the park is sure to brighten your day, so pack a picnic and bring the footy for an arvo of fun. While you’re in the area, swing by Urban Saigon to dine on drool-worthy pho recipes straight from the streets of Vietnam. Evan Margison Park GOODNA For a park so full of flowers they blanket the ground like a colourful carpet, you’ll want to head down to Brisbane’s west side. At Evan Margison Park, jacaranda trees line luscious green fields, creating an incredible contrast that’s easy on the eyes (and your camera lens). The park is usually the site for the Goodna Jacaranda Festival, but thanks to ‘rona, you’ll have to wait until next year to see the festival in full swing. In the meantime, enjoy the park without the crowds, and be sure to save the date for next year. COMING SOON TO RENT! Hawthorne 3 bed, 2 bath, 1 car Townhouse $650pw Housing values 1.5% higher in October as growth trends ease and downside risk builds Australian housing values rose 1.5% in October, a similar result to August and September. However, taking the monthly change out another decimal point shows the market is continuing to slowly lose momentum since moving through a peak monthly rate of growth in March (2.8%). Nationally, the monthly growth rate eased to 1.49% in October from 1.51% in the previous month. Although nationally the headline growth reading remains virtually unchanged over the month, across the broad regions of Australia market conditions are starting to show some diversity. Perth recorded its first negative monthly result since June last year, with values nudging -0.1% lower. At the other end of the spectrum, Brisbane has taken over as the fastest growing market with housing values up 2.5% in October. This was followed by Adelaide and Hobart, with both dwelling markets increasing 2.0% in value over the month. In Sydney and Melbourne, the monthly rate of growth has more than halved since the highs seen in March 2021, when they reached a monthly growth rate of 3.7% and 2.4% respectively. Across the regional markets, New South Wales (2.1%) and Queensland (1.9%) led the pace of capital gains while Western Australia was the only broad rest-of-state region to record a marginal fall in housing values (-0.1%). According to CoreLogic’s research director, Tim Lawless, slowing growth conditions are a factor of worsening housing affordability, rising supply levels, and less stimulus. “Housing prices continue to outpace wages by a ratio of about 12:1. This is one of the reasons why first home buyers are becoming a progressively smaller component of housing demand. New listings have surged by 47% since the recent low in September and housing focused stimulus such as HomeBuilder and stamp duty concessions have now expired. Combining these factors with the subtle tightening of credit assessments set for November 1, and it’s highly likely the housing market will continue to gradually lose momentum.” Although the monthly pace of growth is easing, the annual trend has continued to rise, which is a factor of the stronger growth conditions throughout early 2021. Nationally home values are up 21.6% over the year to October, with half the capitals recording an annual growth rate in excess of 20%. Across the broad regions of Australia, regional Tasmania has led the nation for the pace of annual capital gains with dwelling values rising by 29.1%. Unit markets have generally continued to record a lower rate of growth relative to houses, with this trend most evident in the annual results. In the largest capitals, Sydney house values are up a stunning 30.4% compared to a 13.6% rise in unit values, while in Melbourne house values rose 19.5% over the year compared with a 9.2% gain in unit values. This trend is less evident across regional areas of Australia where the performance gap between houses and units is relatively small. According to Mr Lawless, “As housing becomes less affordable, we expect to see more demand deflected towards the higher density sectors of the market, especially in Sydney where the gap between the median house and unit value is now close to $500,000. With investors becoming a larger component of new housing finance, we may see more demand flowing into medium to high density properties. Investor demand across the unit sector could be bolstered as overseas borders open, which is likely to have a positive impact on rental demand, especially across inner city unit precincts.” Regional markets have once again recorded a stronger trajectory than the capitals, with housing values up 1.9% in October compared to a 1.4% rise in capital city values. Other key insights from the October Home Value Index: Property listings are finally starting to lift, albeit from an extremely low base. The rise in new listings has outweighed buyer demand, pushing the total number of houses and units available for sale to 141,786; a 6.8% increase in active listings from the recent mid-September low. National rents were up 0.7% in October, roughly equivalent to the September reading (0.6%), but lower than the trend rate of rental growth earlier this year. Although the rate of growth in both housing values and rents are easing, we are likely to see housing prices continue to rise faster than rents over the coming months. Overall, Australia’s housing market is continuing to record an above average rate of growth, but there are clear signs that the market is continuing to cool. Not only is the rate of growth still easing, but we are also seeing more listings come on the market at a time when housing demand is likely to be dented by tighter credit conditions and worsening affordability. Looking forward, downside risks for the housing sector are rising. Along with worsening affordability and higher supply, there is the potential for a further tightening in credit policy and, off the back of strong inflation readings, the possibility of an early rate hike is looking increasingly likely. This month APRA’s 50 basis point lift in the serviceability buffer comes into effect. While we do not expect this will have a remarkable impact on mortgage demand or housing activity, there is the risk that, in response to housing credit rising at faster pace than income growth, additional credit restrictions could be introduced down the track. RBA credit aggregates to the end of September show the pace of housing credit growth has eased a little over recent months, which may help to ease the risk of tighter credit conditions. However, a further rise in high debt-to-income ratio lending or a further lift in the housing component of household debt could be the trigger for further tightening. We know from previous rounds of macroprudential policy implementations, and broader credit tightening regime seen during and after the Banking Royal Commission, that the impact of tighter credit conditions on housing markets can be significant. The trajectory of interest rates will be a central factor in the housing market’s performance over the medium to longer term. Financial markets are already pricing in several rate hikes through 2022 and a growing number of economic forecasters are predicting the first rate hikes to be in late 2022 or early 2023, when inflation is expected to move sustainably within the RBA’s target range of 2-3%. Higher interest rates have typically been an inflection point for housing markets, with a lift in rates generally corresponding with less growth in housing values or the commencement of a downturn. With household debt near record highs, borrowers are likely to be more sensitive than normal to the cost of debt. A rise in interest rates is likely to be the cue for the housing market moving into a downswing. Although housing risks are becoming more evident, the short-term view is for further growth in values, albeit at a slower rate than what has been seen over the previous 12 months. As the economy continues to benefit form easing COVID-19 restrictions, current low interest rate should continue to support demand, along with tight advertised supply levels and improving consumer sentiment. Tim Lawless - 1, Nov, 2022
Talking Property - November 2022 content media
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Tracie Harrington
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