Morningside Property Report WINTER 2024 Courtesy of Conrad Leisemann, Ray White Bulimba
Brisbane continues to be one of Australia’s strongest capital city housing markets and is likely to remain so throughout the rest of 2024, with dwelling values continuing to go from strength to strength. Brisbane’s housing market skyrocketed over the last few years with 64% price growth since the onset of COVID-19 and is currently at a new peak in price. Ray White Group managing director Dan White said the south east Queensland property market had grown at a higher rate than the rest of the country over the last three years. Data from independent analytics team, Neoval, shows that houses and units in urban Australia have shown annualised compounding growth of about seven per cent and three per cent, respectively. The data shows houses and units in south east Queensland have shown growth of about 9-12 per cent or 10-11 per cent, respectively. “The last three to four years have seen a change in a relatively long standing historical trend - south east Queensland growth previously tracked with or underperformed the rest of Australia, it’s now growing at a dramatically higher rate, ” Mr White said. The outlook for the rest of the year looks set to continue. At this point, it is likely that rates will not be cut until the start of 2025 and the economy is continuing to slow. In addition, migration levels will also be lower this year compared to last. However, in contrast high construction costs will keep the cost of building a new home high which will continue to drive people to buy established homes and limit housing supply. If you’re considering a move in 2024, get in touch with me for a chat about your options. I look forward to helping you realise your property goals. Conrad Leisemann Ray White Bulimba 0403 978 813 WHAT’S HAPPENING IN OUR MARKET?
WEEKEND RENOS TO FUTURE PROOF YOUR HOME Treating your home like a long-term commitment sometimes seems like a forgotten art. With so many trends and new things that demand all of your attention right now, it can be difficult to think 10, 20, 30 years down the track. There are plenty of ways to improve your home’s functionality, beauty, and longevity. Simon Clark, one of the founders of Sustainable Homes, is very passionate about this idea. “Any work that you do, you want it to last as long as it can. For every economic and sustainability reason you could imagine,” Mr Clark says. Install Quality Blinds and Curtains Blinds and curtains are incredible insulators for your home. No matter your location, we need to be thinking about how to keep our homes cool or warm without breaking the bank. Picking out curtains or blinds that suit your home and your climate is quite a fun job. Paint a Wall or Two We all know how a lick of paint can make a huge difference. Whether you are just wanting to refresh a space or introduce a bold statement, painting a wall or two is actually very simple. The key thing to remember with painting is to do the prep work right. Tape off your wall correctly, secure your drop sheet, and invest in the right wall paints and highquality rollers and brushes. Insulate! Insulation is a must. Easy if you are building your home from scratch, but if you have moved into an existing house this can be a little more difficult. “Insulating under your floor can improve a home’s performance by 20%,” Mr Clark notes. It is important that your insulation job is done well, so this might be more of a long-term plan. Make Your Home A Place You Enjoy Being Making sure your home is a place that you want to be is vital to the longevity of your property. Hang art and shelves, decorate spaces with intention, and make your home as comfortable as possible. “Just make your home a place that you’d love to be – the more you can do that, it’ll improve your life, your relationships and the value of your home,” Mr Clark says. These are just some small ways you can start actively improving your home’s functionality, beauty, and efficiency, and the more you keep this in mind, the longer your home will serve you.
RECENT ACTIVITY IN YOUR AREA 2/19 Pashen Street 2/40 Agnes Street 23 Windemere Avenue 3/59 Ison Street 12/14 Deviney Street 22 Pashen Street 4/52 Ison Street 15 Tandoor Street SOLD $622,000 SOLD $995,000 SOLD $1,980,000 SOLD $1,285,000 SOLD $945,000 SOLD $1,805,000 SOLD $798,000 SOLD $2,425,000 2 2 1 4 2 2 4 3 2 4 2 2 3 2 2 4 3 2 2 2 1 5 3 2
131 Belgrave Street 1/121 Belgrave Street 1/94 Stephens Street 1/116 Stephens Street 41A Monmouth Street 1/59 Ison Street 1/87 Stephens Street 2/64 Monmouth Street SOLD $1,100,000 SOLD $1,200,000 SOLD $1,040,000 SOLD $922,000 SOLD $1,190,500 SOLD $1,400,000 SOLD $1,010,000 SOLD $1,265,000 3 2 2 3 2 2 3 2 2 3 2 1 3 2 2 4 2 2 3 2 2 3 2 2
30 MORNINGSIDE FAST FACTS MORNINGSIDE 24 1. 3. 4. 5. Compared to five years ago, the median sales price for houses in Morningside has increased 68.6% which equates to a compound annual growth rate of 11%. PROPERTIES SOLD LAST QUARTER HOUSES AVERAGE DAYS ON MARKET SALES Source: Core Logic RPData 18 May - 18 August 2024 2. LEASE $900K 100 $1.2M 150 $1.5M 200 $600K 50 2020 2021 2022 2023 MEDIAN HOUSE SALE PRICE NUMBER SOLD 2024 UNITS SOLD LAST QUARTER 28 MEDIAN $1,378,000 HIGHEST $5,300,000 LOWEST $708,750 MEDIAN $787,500 HIGHEST $1,475,000 LOWEST $511,000 HOUSES UNITS MEDIAN HOUSE (3 BED) $720 MEDIAN UNIT (2 BED) $600 RENT PER WEEK
“WOW WOW WOW! Conrad is by far the most incredible, experienced, phenomenal agent I have ever sold a home with. His team’s whole process from the beginning was informed, seamless and stress free. He gave factual information to help with my decisions towards the marketing and presentation of the property and he was 100% right. He worked hard, every day and late into the night, every night with buyers for my property, and produced the most incredible result for sale. HIGHLY RECOMMENDED.” MILISSA - BULIMBA “This was the second property Conrad has helped us sell in the past 12 months. He’s unbelievable to deal with and literally makes a stressful time feel the easiest time of your life. He makes everything from start to finish a breeze and looks after you every step of the way. On both occasions the result he achieved for us was well above our expectations. We would highly recommend him and his team to anyone wanting a stress free process.” GRANT AND REBECCA - GREENSLOPES “Conrad could not have done more for me, he was tolerant and patient. He had a good knowledge of the area and the potential my home had. He has restored my faith in real estate agents - he was not pushy and had great advice on all things. He was very appreciative of the work I did to prepare my house and get the sale. I felt he went above and beyond, was always available and I would recommend him before any other agent.” PEGGY - MORNINGSIDE “This is the second property Conrad has sold for us. Conrad has exceptional communication skills, years of knowledge of the Brisbane real estate market and is the hardest working agent I know. He goes out of his way to ensure you get the best possible experience and always has creative solutions for selling even in challenging market conditions. I trust Conrad completely as he always has your best interests at heart.” BRETT AND KAREN - SEVEN HILLS A WORD FROM MY CLIENTS
YOUR LOCAL AREA EXPERT Ray White Bulimba 6/57-59 Oxford Street Bulimba QLD 4171 raywhitebulimba.com.au CONRAD LEISEMANN Sales and Marketing Consultant 0403 978 813 conrad.leisemann@raywhite.com Living locally for over 40 years – selling locally since 2009 Widely known as an exceptional communicator due to his wealth of experience in customer service and business management, Conrad has been regularly recognised as a multi-award winner within the real estate industry. Having lived in the inner eastern suburbs of Brisbane for over 35 years, and now residing with his family in Morningside, Conrad not only has an intricate knowledge of our local area but the entire Brisbane landscape. His clients appreciate his sense of humor, lighthearted and supportive outlook, while nonetheless being able to provide a highly skilled, professional, empathetic and trustworthy service. An active member of the local community, Conrad continues to support many different sporting clubs, local businesses, community charities, school programs and local events. Conrad enjoys guiding his valued clients to achieve the very best experience and outcome in their real estate transaction. With an investment property portfolio of his own, he can also provide expert advice to property investors. His business philosophy is simple: “Clients for life through the finest service”. • •
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