Prepared by Rachael Spinks, SpinksCo Residential ADDRESS TENNIS COURT & PRESTIGE PROPERTY REPORT June 2021– June 2022
AMESSAGE FROMRACHAEL SPINKS 2022 certainly kicked off with a renewed sense of optimism. With more and more Australians becoming double vaccinated and boosted and interstate borders reopening, there was a growing feeling that life might just be returning to ‘normal’. There was certainly every reason to feel positive about our strong property market, as Brisbane cemented its place as the fastest growing capital city in the country. Right from the getgo, open homes were extremely well attended, the high numbers bolstered further by the strong presence of Southern home hunters. Tennis court homes and lifestyle properties were in high demand. The first six months of 2022 saw some incredible sales right across Brisbane. A tennis court home in Virginia Ave, Hawthorne recorded a sale price of $15 million and 31 Needham St, Fig Tree Pocket recorded an outstanding sale price of $9 million. 43 Union St, Clayfield and 2 Perry St, Hamilton (both tennis court homes) followed closely with sales of $8.4 million and $6.77 million, respectively. Tennis court homes at Kenmore Hills, Grange and Indooroopilly also recorded outstanding sales results with prices ranging from high $4 million, high $5 million and just over $6 million. According to CoreLogic, Brisbane housing values, unlike those in Sydney and Melbourne, have continued to trend higher in 2022. Although the rate of growth has eased back from its peak of 8.5% to currently 4.6%, Brisbane is still outperforming the national average growth rate which is just 1.1%. A key factor supporting ongoing price growth in Brisbane is that listings remain extremely low. At the end of May, total advertised stock levels were holding 28% below the five-year average in Brisbane. At the same time, home sales have eased but remained approximately 15% above the five-year average in May. With demand continuing to out-weigh available supply, Brisbane homes are selling in just 20 days on average, with minimal levels of discounting. The recent rising interest rates and rising inflation, along with tighter lending conditions, have contributed to the ease in the rate of growth. However, many economists are still predicting solid growth for the Brisbane property market. Property commentator Simon Pressley of Propertyology is predicting up to 27% gains in 2022 due to the strong fundamentals which exist in Brisbane. “After 15 consecutive years of lean performance, Brisbane will be Australia’s best-performed capital city in 2022. Somewhere in the vicinity of 27 per cent capital growth is on the cards for 2022 and 35-45 percent over the 2-years ending 2023.” Michael Yardney, director of Metropole Property Strategists, believes that after last year (where property values increased in almost every part of Brisbane) moving forward we will see a segmented property market. He describes this as a more ‘normal property market’, where some locations will rise strongly, some will increase in value moderately and some locations will languish or fall, based on local supply and demand. He also expects Brisbane to remain one of the nation’s hottest markets, due to the ongoing imbalance between low supply and strong demand keeping upward pressure on housing prices. He predicts by the end of the year it’s likely “overall” home values will be 10+% higher than the beginning of the year. With Brisbane currently in the midst of both a population boom and an infrastructure boom, there is a general consensus that our housing market will buck the national trend and continue to undergo significant growth this year. This sentiment is certainly reflected in the level of enquiry we are receiving at SpinksCo Residential. We are currently searching on behalf of several local and interstate buyers for tennis court and lifestyle properties ranging in price from $4million to $10million. If you would like to take advantage of the outstanding price comparisons that have already been set this year, I would be delighted to arrange an appraisal of your property and a potential match with one of these qualified buyers. Rachael Spinks 0411 10 10 15 www.spinksco.com.au Follow us on Instagram - spinkscoresidential
TOP 10 Tennis Court Sales June 2021 – June 2022 1 Hawthorne Virginia Avenue 2,110 m2 $15,000,000 2 Fig Tree Pocket Needham Street 1.24 ha $9,000,000 3 Clayfield Union Street 2,681 m2 $8,400,000 4 Hamilton Perry Street 1,240 m2 $6,770,000 5 Hamilton Markwell Street 2,278 m2 $6,200,000 6 Indooroopilly Glasnevin Street 3,922 m2 $6,050,000 7 Grange Montpelier Street 2,239 m2 Price Withheld 8 Kenmore Hills Greentrees Avenue 1.4 ha $4,700,000 9 Fig Tree Pocket Jesmond Road 1.17 ha $4,550,000 10 Nundah Carew Street 1,340 m2 Price Withheld Source: Pricefinder
SO Prestige and Ten June 2021 – Virginia Avenue, Hawthorne Perry Street, Hamilton Markwell Street, Hamilton Union Street, Clayfield Carew Street, Nundah
LD nis Court Homes – June 2022 Laidlaw Parade, East Brisbane Glasnevin Street, Indooroopilly Chester Street, Teneriffe Buena Vista Avenue, Coorparoo Sykes Street, Ascot
TOP 10 Prestige Property Sales June 2021 – June 2022 1 Hawthorne Virginia Avenue 2,110 m2 $15,000,000 2 East Brisbane Laidlaw Parade 597 m2 Price Withheld 3 Fig Tree Pocket Needham Street 1.24 ha $9,000,000 4 Clayfield Union Street 2,681 m2 $8,400,000 5 Hamilton Perry Street 1,240 m2 $6,770,000 6 Coorparoo Buena Vista Avenue 1,942 m2 Price Withheld 7 Hamilton Markwell Street 2,278 m2 $6,200,000 8 Indooroopilly Glasnevin Street 3,922 m2 $6,050,000 9 Teneriffe Chester Street 966 m2 $5,900,000 10 Ascot Sykes Street 949 m2 $5,600,000 Source: Pricefinder
SPINKSCORESIDENTIAL PRESTIGEPROPERTYNEWS PRESTIGELIFESTYLEPROPERTY Manly SpinksCo Residential is thrilled to announce the sale of this stunning, harbour-side modern masterpiece. The sale price of $5.15 million set a new price record for the suburb of Manly. The property was certainly deserving of its record price tag, with its large land size and private walkway to the waterfront. What makes it a one-off, is the calibre of design, engineering and build, and the elevated cul-de-sac position with uninterrupted harbour views. It was sold to a family downsizing from an acreage/tennis court property who can now enjoy the perfect north- east aspect with views of the harbour, the bay and the islands from all living spaces. Congratulations to both buyers and sellers! 41 Carrington St, Paddington Occupying a remarkable 1,214m2 of rare inner-city land, this private residence is perched high on the hill in prized Paddington. Taking full advantage of its perfect North-East aspect, the property enjoys spectacular sweeping views from Government House, over the leafy northern suburbs and around to the sparkling city lights of the Brisbane CBD. This is a rare opportunity to create your dream home in a private enclave, only three kilometres from the Brisbane CBD and within a short stroll to the vibrant Rosalie Village and the popular Milton State School. Hospitals, transport, amenities and outstanding private and public secondary schools are all just minutes away. The location is perfect, the aspect is perfect, the proportions are perfect… just choose to either build your own picture-perfect residence or to capitalise on the existing infrastructure. Nundah SpinksCo Residential set a suburb record price for the sale of 33 Carew Street, Nundah. This Griffin and Knowlman designed home is discreetly hidden behind a lush green hedge and beautifully landscaped gardens. From the street you would never know the extent of the paradise which lies beyond. Set on 1,340m2 of land featuring a sparkling swimming pool and north-south tennis court, the modern residence is a home for entertaining on any scale and in any season. We warmly congratulate the lucky new family who have the good fortune to now call this stunning property “home”. We also sincerely thank the sellers for trusting us with the sale of their beautiful home.
SPINKSCO RESIDENTIALWELCOMES SENIOR SALES EXECUTIVE LIZMCSWEENEY It is with great pleasure that we welcome Liz McSweeney to the SpinksCo Residential team. With an impressive track record spanning 30 years in the premium sector of the Real Estate industry, Liz brings a wealth of knowledge in the sales and marketing of prestige property, including lifestyle homes and luxury apartments. Liz provides an expansive portfolio of local, inter-state and international clients and connections, allowing her to expertly match people with properties. Liz will be catering specifically to buyers and sellers in the Ascot, Hamilton, Clayfield and Hendra neighbourhoods. She will cater specifically to her clients’ requests, offering either high-profile sales campaigns or private, off-market transactions. On request, Liz will also provide a bespoke service connecting “down-sizers” to luxury, low maintenance apartments. Each client can be assured of personalised, one on one service, and complete confidentiality along with trustworthy advice. We look forward to working closely with Liz who shares the SpinksCo Residential commitment to building long-term trusting relationships, understanding emotional and financial investment and respecting both the buyer and the vendor.
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