Government Confirms Delivery Of Property Election Promises

OK this looks like a good start. Tim Nicholls announced the introduction of the Cost of Living Bill on Tuesday night.

Specifically related to property were two announcements:

• Reinstatement of the transfer duty home concession, saving families up to $7000 (From 1 July)
• Abolishment of sustainability declarations when selling houses

You can read the Ministerial press release here

I’m still waiting for more, the LNP did promise to “slash” red tape in the real estate industry and this is the tip of the iceberg. They need to tackle PAMDA (The Property Agents And Motor Dealers Act) which should take some more time so we should give them a little leeway (they have a bit on their plate!) but let’s hope they keep going.

Unit Shopping? Get In First

If you are in the market for a 2 bedroom unit in the $300,000 – $350,000 range there is a fair chance you have been disappointed recently. There has definitely been an marked increase in turnover over the last 8 weeks.

We are selling many units within 7 days so just thought I would give everyone a heads up. I have two Greenslopes units hitting the market next week and another two the week after.

Next weeks new units are both priced to sell at $316,000 and $329,000.

Email or call me on 0424 149 026 to register to be first to know about them (or better yet follow us on twitter, the info will be on there first.

Matt Jones

Market Update :: Strong Sales Leading Into EOFY

Click on address for more information.

	24 Hunter Street, Greenslopes 2 bedroom house SOLD for $510,000
	767 Cavendish Road, Holland Park 3 bedroom house SOLD for $485,000
	367a Cornwall Street, Greenslopes 4 bedroom house SOLD for $550,000
	99 Dunellan Street, Greenslopes 2 bedroom house SOLD for $455,000

 

	94 Marquis Street, Greenslopes 3 bedroom house NOW UNDER CONTRACT
	4/8 Barradine Street, Greenslopes 2 bedroom unit NOW UNDER CONTRACT
	16 Lilly Street, Greenslopes 2 bedroom house NOW UNDER CONTRACT
	5/11 Prince Street, Annerley 2 bedroom unit NOW UNDER CONTRACT

Urgent Update :: Ignore Previous Pricing at 50 Latimer St, Must Be Sold

You may have seen 50 Latimer Street, Holland Park advertised the past couple of weeks. Well time is running out, the sellers brand new home is ready to go and quite simply this house must be sold. Auction day has been set, the sellers are packed and ready to go, a sale is required on 7 July if not prior.

With plenty of entertaining and living spaces inside and outside, lots of bedrooms, this is an ideal larger family home.

All five bedrooms are situated on the upper level. Cleverly designed and stretching from the front to the back of the home, each are spacious and offer privacy.

A formal dining and living space adjoins the kitchen area. From here an enormous deck area is accessible by either of two sets of wide doors, perfectly located for entertaining on any scale.
A large rumpus area downstairs is the perfect games room / teenagers retreat with plenty of room for a big TV and even a pool table. A separate office space is excellent for private study with another room + separate bar area.

More info and photos at jjre.co/50l
Inspect Saturday 16th June 11:30-11:50

Phone Matt on 0402 023 176 to discuss further

This Week’s Property News Round Up

>> Julia Gillard takes aim at state stamp duties from propertyobserver.com.au

>> The pros and cons of property investment negative gearing from yourinvestmentpropertymag.com.au

>> NSW scraps First Home Owner Grant from yourinvestmentpropertymag.com.au

Pool Safety Laws Update

 

The Department of Housing & Public Works has sent out a reminder of the current pool safety laws.

Leasing

It is an offence for the owner of a non-shared pool to enter into a lease without a pool safety certificate.  The Department has been issuing infringement notices for this offence to pool owners. 

Sales

If there is no pool safety certificate in effect for a pool, a property owner must give a notice of no pool safety certificate (Form 36) to a prospective purchaser before entering into a contract of sale. A copy of the Form 36 must also be provided to the Department before settlement. Failure to do either is an offence.

The Department issues infringement notices against purchases of properties with non-shared pools who fail to obtain a pool safety certificate within 90 days after settlement. It is more difficult to detect a purchaser’s failure to obtain a pool safety certificate where the seller did not provided a copy of the Form 36 to the Department.   PSC staff have commenced analysing independent sales data to identify these cases.  The results confirm a variable rate of failure by sellers to provide a copy of Form 36 to the Department and enforcement action is now being taken against non-compliant purchasers that are identified by this research.

From 1 December 2012, the Department will also commence issuing infringement notices against owners of shared pools (such as pools located on common property within a community titles scheme) who were required to, and failed to, obtain a pool safety certificate.

More info at qld.gov.au/poolsafety

Do Your Research

The March quarter edition of Queensland Market Monitor has just been released by the REIQ.

Each edition of Queensland Market Monitor includes:
• Median sale prices for houses, units/townhouses and land;
• Median weekly rents for houses, units and townhouses;
• Gross rental yields and vacancy rates;
• Useful charts and graphs; and
• Analytical commentary. 

If you haven’t downloaded a copy before do yourself a favour and check it out, it is an excellent state-wide overview of the property market.

Download a copy here

Greenslopes Suburb Snapshot

The size of Greenslopes is approximately 3 square kilometres. It has 1 park covering nearly 2% of total area.

The population of Greenslopes in 2001 was 7,505 people. By 2006 the population was 8,086 showing a population growth of 7% in the area during that time.

The predominant age group in Greenslopes is 20-29 years.

Median Sale Price

House Sales Per Annum

Unit Sales Per Annum

 

© 2012 Copyright RP Data Pty Limited, Local, Commonwealth Govt. All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials at this site is permitted.

Bring Your Spare Change

That might be about all you need for this one. I can’t remember the last time I had a house for sale in Greenslopes for less than $400,000 and it will no doubt be a while again.

94 Marquis Street, Greenslopes is an absolute bargain and will sell quickly.

Just $399,000 gets you a 3 bedroom Queenslander on 607m2. Sure it needs some TLC but who is going to argue at this price?

See you at the first inspection this Saturday, 9 June @ 12PM.
jjre.co/94m

This Week’s Property News Round Up

>> They’re getting to the business end on The Block and propertyobserver.com.au says they will need to outperform the market to turn a profit

>> Cameron Kusher from RPData looks at why the number of home sales and dwelling approvals hasn’t moved in line with population growth? 

>> Mortgage sales at highest level in three years from apimagazine.com.au

>> On Tuesday Bank of Queensland immediately passed on 20 out of RBA's 25 basis points

>> As of Tuesday night the major banks were still mulling over interest rate cut