QLD Redcliffe?

Things must be heating up in the Redcliffe's area, I'm getting letters from different real estate agents every second week asking if I would consider selling. Is there anyone on the ground that can give us an accurate market update and a look into the future?

 

I was just between renters and asked a few agents for appraisals (not Redcliffe but close). Things have apparently moved in the last year or so but not enormously. There are a few more southern investors but not overly hyped up. Yields are still on but going down a bit due to fewer renters rather than more stock. More developments but mostly the larger rather than smaller.

 

I got called the other day myself about my property in Redcliffe as they are clearly looking for more stock, this is usually what happens when I get the call. From what I read and hear the market seems to be going well out there. It will be interesting to see what growth we get at the end of the year, last year returned 9.3% which is great. For the last 3 years it averaged out to 5.9% which is pretty darn good.

 

Any updates? What's happening around the Peninsula these days?

@Peninsula Property @sash

 

Slow and steady...maybe 2-3 % growth....but doin' much better than most of Logan/Ipswich which seem to be going backwards in most areas.

 

Be interested to know where people think Redcliffe is in it's cycle?

If "Brisbane" is considered to be at the start of it's growth cycle is Redcliffe further or less advanced?
I read one expert recently saying that Redcliffe is at about 10 or 11 o'clock on the property clock which surprised me.

What does others think?

Willy

 

Nah...not until Brisbane formally has a fully cycle....

 

Not a lot i don't think. If you speak to any agents they always say it's going well!
I just had an agent value my house in Redcliffe and i was not overly impressed with it's performance over the last 5 years. If you look at the numbers Redcliffe averages 3.6% growth over a 10 year span.

 

18. Yacht St Clontarf Qld 4019 18. Yacht St, Clontarf, Qld 4019

2 Caroline St Woody Point Qld 4019 2 Caroline St, Woody Point, Qld 4019

25 Bradley Rd Clontarf Qld 4019 25 Bradley Rd, Clontarf, Qld 4019

A couple of new listings hit the boards this week to take note of. One property a stone throw to the waters edge, but very lacking in space, listed at 700k plus & if sold @ that tag will show us how the market is in particular with election and banking finance downturn in its face.

The other 2 properties are dusk & dawn. One very modern and backing onto golf course the other 500m from water and older style reno.

We have seen some similar homes sell in less than 2 weeks and others listed for a full term 60 days with no offers.

The current medians are staying stable if not minor increase in the 4 bed sectors over here imo.

 

Are you a real estate agent?

 

No, my partner was for a while though.

Just a long time resident of the Peninsula with a vested intrest within the area and surrounding suburbs.

There is a certain amount of development slotted in for the Peninsula and submissions currently in tender.

The newly finished upgrades via the Gateway motorway, gives a direct route to Airport in approximately 20-25min.

Traders in purple have submissions going forward to develop the Redcliffe foreshore ,commercial / residential .

They have produced some great looking building the past couple of years "The Scarborough " , "Sebel" and now "Bathers" .

Historically speaking the area has an older demographic but over the past 5- 8 years alot of them have passed on and new builds occupy that space.

In our area alone we have a 90yo next door, 94 & 96 opposite and 87yo behind.

These blocks can accommodate 3 story (12m) homes... and the ones that have passed away lately and getting that style built for the views.

 

Fair enough.
I have confidence in the area that's why i purchased there 5 years ago, but compared to some of my other properties it's not performing that well. I think Redcliffe and surrounds is a slow burn to be honest. The area is improving so it's heading in the right direction. I remember it 15 years ago when i first came to Brisbane and it was quite different back then.

 

A current affair had a property story on this week and Redcliffe was stated as a underpriced suburb I believe.

 

We sold a house in Redcliffe late last year and the market was very slow. Not a lot of inquiries and we had to settle for less than expected in price.

 

I'm seeing some development sites going up to 100k less than 18 months ago (600k sites now low 5's). Developers report having vacant blocks on the peninsular sitting unsold for almost 12 months. That being said it's a great time to be buying.

 

Yes , we saw that clip this morning. Redcliffe Peninsula and Chermside.

 

Redcliffe sounds perfect then!