October what's in strata news

17 Oct What’s in the news in October?

What’s in the news in October?

Apartment amalgamation a buyer’s dream come true

A new breed of downsizers are taking luxury living to the next level, refusing to compromise on space by joining off-the-plan apartments together to create their “lock and leave” dream homes.

For Nelson Duan, 30, the ‘create your own experience’ at Dwell Newstead allowed him to design two apartments on consecutive levels, joined together by adding an internal staircase.

Read the full article by Reshni Ratnam from realseastate.com

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Nelson Duan has amalgamated two apartments at Dwell Newstead. Photo: Adam Head.
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Buyer enquiries for Brisbane property were rising especially out of investors from the two major southern capitals, according to AllenWargent Independent Property Buyers co-founder Pete Wargent.

Housing starts tumble but price rises set to draw buyers back

Official data out today found a massive -20pc slump in new building starts across the country, but Queensland may be in better shape than most.

Latest Australian Bureau of Statistics building activity data found the total number of dwelling units commenced in the private sector nationally shrank -20.3 per cent (Jun qtr 18 to Jun qtr 19) to 46,315.

Read the full article by Sophie Foster from realestate.com

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Woolloongabba: This world-famous sporting hub is shedding its industrial roots

Being home to the world-famous Gabba stadium, officially known as the Brisbane Cricket Ground, the suburb of Woolloongabba in Brisbane’s inner south is well known around the world.

The Gabba brings an excitement to the suburb which is being identified as a property hotspot.

Read this interesting story by Vannessa De Groot from domain.com.au

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The ever-evolving suburb of Woolloongabba. Photo: Tammy Law
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Christal and Chris Fysentzou who have made a living out of flipping properties via their Zou Build company have snapped up a house in Mansfield which had been sitting on the market for about two months. Picture: Annette Dew.Source:News Corp Australia

Spring swing underway in Brisbane

There are signs of a swing in the Brisbane real estate market as older properties find their mark and certain types of newer listings fly off the books faster than they can be set up for sale.

SQM Research managing director Louis Christopher said it was “early days”, but there were signs of a lift.

Get the full story from Sophie Foster from www.news.com.au

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Brisbane rents: Landlords in ‘rosier position’ as unit oversupply eases

Brisbane rents are creeping up and the proportion of vacant homes is inching down, as the city’s rental market recovers from years of oversupply, experts say.

Asking rents for units rose 1.3 per cent to a median $380 a week over the past year, the latest figures from the Domain Rental Report for the September quarter show.

House rents also edged up 1.3 per cent to a median $405 over the same time period, according to the report released on Thursday.

The combined vacancy rate fell 0.1 percentage points to 2.2 per cent during the September quarter.

It comes after a wave of new apartments were built in Brisbane’s inner city in recent years, with the extra supply keeping a lid on rents.

Domain research analyst Eliza Owen said the market was now in good health, despite appearing to be near-stagnant.

Read the full story by Jim Malo from domain.com.au

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Median weekly asking rents for units
RegionSep-19Jun-19Sep-18QoQ % ∆YoY % ∆
Brisbane – City wide$380$380$3750.0%1.3%
Brisbane – East$405$405$4000.0%1.3%
Brisbane – North$370$365$3631.4%2.1%
Brisbane – South$385$380$3751.3%2.7%
Brisbane – West$400$415$390-3.6%2.6%
Brisbane Inner City$420$425$410-1.2%2.4%
Moreton Bay – North$315$315$3100.0%1.6%
Moreton Bay – South$340$335$3351.5%1.5%

Source: Domain Rental Report September 2019 quarter

Source: Domain
Median weekly asking rents for houses
RegionSep-19Jun-19Sep-18QoQ % ∆YoY % ∆
Brisbane – City wide$405$400$4001.3%1.3%
Brisbane – East$450$450$4500.0%0.0%
Brisbane – North$435$435$4300.0%1.2%
Brisbane – South$435$435$4400.0%-1.1%
Brisbane – West$490$485$4801.0%2.1%
Brisbane Inner City$550$530$5203.8%5.8%
Moreton Bay – North$375$370$3651.4%2.7%
Moreton Bay – South$410$413$410-0.6%0.0%

Source: Domain Rental Report September 2019 quarter

Source: Domain