Market Update

 7/16 Regina Street, Greenslopes  UNDER CONTRACT
 41 Bunya Street, Greenslopes UNDER CONTRACT
 2/8 Drummond Street, Greenslopes UNDER CONTRACT

RPData Quarterly Rental Report Out Now

RP Data recently released their quarterly Rental Review which showed the Brisbane rental market has remained surprisingly flat during 2010.

Download a copy here  http://www.rpdata.net.au/news/pdfs/quarterly_rental_review_sept.pdf

VIP Buyers Inspection :: Thursday 21 October

32 Oxford Street, Woolloongabba is immaculate. Packed with character. The owners have done some amazing work on it. It has a great feel.


http://www.realestate.com.au/property-house-qld-woolloongabba-106935308

Check out all the photos here http://www.open2view.com.au/tour/photo/153477/1

If location buying is important to you this is a must see. Leave behind the battle of commuter traffic and embrace city living. This traditional workers cottage is a real charmer with a wonderful blend of character features and recent renovations. This home has a real sense of history and a style that just seems to fit in with living in the area.

The addition of a rear deck has totally transformed the home, providing a perfect al fresco living area that overlooks a manicured backyard. The bathroom and kitchen have both been upgraded with quality fittings.

Houses in this pocket of Woolloongabba are tightly held and it's little wonder. You are literally surrounded by amenities. It's just over 4km to the city. You are less than 5 minutes walk to Stones Corner shopping and cafes, Buranda Train and Busway stations. The PA and Greenslopes hospitals are nearby.This really is perfect inner city living. Make your move.

Market Update

SOLD
 51 Roseglen Street, Greenslopes $545,000

 4/396 Upper Cornwall Street, Coorparoo $440,000

 11 Erica Street, Cannon Hill $565,000

House prices to rise by 15pc, says Australian Housing Outlook Report

While the days of booming price growth in the Brisbane housing market are becoming a distant memory, a new forecast is tipping a 15.2 per cent increase in the next three years.

But the upturn will take time to gain traction, with most growth predicted between 2012 and 2013.

The latest QBE LMI Australian Housing Outlook Report, prepared by BIS Shrapnel, predicts that Perth, Sydney and Adelaide will record the strongest growth levels in the next three years.

QBE LMI chief executive Ian Graham said affordability in Brisbane remained a challenge, with the median house price predicted to hit $530,000 by June 2013.

At present housing affordability in Brisbane is somewhere between 2007 and 2008 levels.

In the two years to 2007-08, Brisbane's median house price jumped by 29 per cent, making the city the second least affordable capital city nationally after Sydney. However, Brisbane's median price stalled for the first half of this year, rising only 2 per cent up to June.

Read more at couriermail.com.au

Food market to breathe new life into Coorparoo's landmark Myer site

Brisbane food lovers are clutching their shopping baskets in anticipation of Brisbane's first permanent undercover fresh food market.

The markets are slated to open in the old Myer building in Coorparoo at the end of the month.

"It's absolutely fantastic," said local cafe owner Gillian Hirst.

"This used to be a vibrant precinct, but over the years with Carindale shopping centre opening and the threat of resumption of land for the busway, it's become neglected and run down."

The old Myer site, once home to one of Brisbane's first suburban shopping centres, has stood empty since 2007, when the State Government bought the site for the proposed Eastern Busway.

The markets have been granted a two-year lease.

Read more at couriermail.com.au

A Reprieve For Homeowners As The RBA Leaves Interest Rates On Hold

Homeowners can breathe a sigh of relief as the RBA made a surprise move and left the official interest rate on hold for the fifth month in a row today.

However, Glenn Stevens, the RBA Governor, said while the reprieve was appropriate for the "time being," there may be mortgage pain ahead for borrowers.

"If economic conditions evolve as the Board currently expects, it is likely that higher interest rates will be required, at some point, to ensure that inlaltion remains consistent with the medium-term target," he said.

Read more at ninemsn

National Property News

First time buyers back in the driving seat

With less incentives being handed out by the Government, higher interest rates and higher home values, the number of first time buyers in the market has continued to trend lower throughout 2010. Despite the slowdown, the number of first time buyers remains above the long term average. Strong economic conditions, low unemployment and high levels of confidence may be enough to encourage more first time buyers back into the market. 

Read more at rpdata.propertypulse

Seasonally-adjusted Aussie home values decline
Australian capital city home values declined -0.2 per cent (seasonally-adjusted) in August (0.0 per cent in unadjusted terms) while the ‘Rest of State’ markets realised 0.0 per cent growth (seasonally-adjusted and raw). Total gross returns remain positive with improving yields on units (4.9 per cent) and houses (4.0 per cent)
Read more at rpdata

Sneak Peek :: Huge 2 Bedroom Unit :: A1 Location

7/16 Regina Street, Stones Corner
$385,000
http://www.realestate.com.au/property-unit-qld-greenslopes-106877922

First inspection this Saturday. 2 October 12:20-12:40.

Be quick to this one, this top floor 2 bedroom unit is a beauty. City views, huge lounge area, quality kitchen, sought after location just metres from Stones Corner.
The photos don't do it justice, it's even better!