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Archive for January 2017

Property prices rise thanks to pub

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Bribie

ONLY IN AUSTRALIA: PROPERTY PRICES ON THE RISE IN BRIBIE ISLAND THANKS TO PUB
Ellen Lutton, January 15, 2017

SandstonePhoto: Jared Vethaak

Demand for property on Bribie Island is up and prices are rising – and it’s thanks to a pub.

The Sandstone Point Hotel, a $50 million development perched on 300 metres of unobstructed water frontage across the Pumicestone Passage to Bribie Island, opened 18 months ago.

Bribie Island, off the coast of Moreton Bay, is about a 45-minute drive north of Brisbane.

The hotel’s sheer size, popularity and music events which draw crowds of up to 12,000 mean it has become a driving force behind property sales on the island. Properties are now selling in a matter of weeks.

People who may not have necessarily thought of Bribie as a nice place to live or invest are sitting in the hotel, staring across the Passage at it thinking ‘wow’. They’re literally walking across the bridge to come and inquire about the cost of property here.

While two-bedroom units on the waterfront at Bribie are still available to buy for under $300,000, prices are rising. Records from the Domain Group show the median price in Woorim, a beachside suburb of Bribie, rose by 19.5 per cent in 2016.

The Sandstone Point Hotel, owned by the Comiskey Group, opened in June 2015. Sprawled atop a 35-hectare waterfront site, the hotel itself is 3000 square-metres and includes a kid’s playground with farmyard animals, multiple bars and dining spaces, Oyster Shed serving fish and chips down by the jetty and a 750 square-metre liquor barn.

Sandstone 1Photo: Jared Vethaak

Since opening, it’s been named Australia’s Best Hotel (regional) and hosted several of massive events including the Beach Boys and Jimmy Barnes.

The large hotel crowds made a difference to the local property market after one year. They get anywhere between 7000 and 12,000 at a concert – if just two or three per cent of those people there like what they see at Bribie and decide to buy property here, that’s a huge influx of buyers.

There have been buyers from Sydney and Melbourne who’ve been at the hotel for a concert and ended up buying property here because of it. Buyers plan to rent out properties for holidays during the year, blocking off weekends for when they wanted to go to events at the hotel.

The pub has enabled people to reconnect with Bribie. Holiday rentals are going crazy as well. The hotel added a wow factor to Bribie that had previously been missing.

For a long time, Bribie has had a much older demographic, appealing to retired people and their families who came up for weekends and holidays.

Raptor

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To help you find your own home in paradise & lead you through the process in obtaining it:

Paul Howard – 0408 068 770

For all your real estate needs sales, holiday & permanent property management services

_________________________________________________________________________


Archive for January 2017

Courier Mail’s Bribie Island Analysis

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 Bribie

LATEST RESEARCH HINTS TOWARDS QUEENSLAND’S NEXT MILLIONAIRE’S ROW
Belinda Chilton, The Courier-Mail December 30, 2016 9:10am

Noosa Heads on the Sunshine Coast is being outperformed in house price growth by Woorim on Bribie Island.

A VIRTUALLY untouched seaside suburb on Bribie Island is showing all of the hallmark signs of becoming home to the next millionaire’s row in Queensland.

Woorim has outstripped the premier seaside location of Noosa Heads, on the Sunshine Coast, on the price growth according to the latest research to September.

Resolution Research market analyst Diana Howes said Woorim was in its infancy but looked poised to experience price growth at the top end of the market, with its recent performance significantly outshining the premier ocean front market of Noosa Heads on the Sunshine Coast.

“Over the past year median price growth in Woorim has eclipsed that recorded within Noosa, 10.5 per cent versus 5.3 per cent, a fundamental which has been duplicated over the past five years with 2.9 per cent versus 1.1 per cent,” Ms Howes said.

Resolution Research market analyst found Woorim was proving to be a well performing suburb. “It’s probably one of the best performing suburbs on Bribie Island. “Anything you get listed there you know you’re going to sell it regardless of price.”

While the million dollar plus market in Woorim remains in its infancy, with only four properties sold in this top end bracket in the past eight years, the suburb is starting to draw interest from buyers in the high end of the market.

The research shows that Woorim’s Rickman Parade could very well be home to the next millionaire’s row in Moreton Bay, with properties likely to be renovated, new supply to enter the market and retail and dining precincts beginning to emerge. Ms Howes said it was clear that local market confidence was high, with properties being held in a rising market.

“At the time of undertaking this research there were only 18 homes for sale out of the 690 privately owned homes within Woorim,” she said. “Properties within Woorim are tightly held with transactions averaging 30 per annum over the past five years.  ”Rumour has it that two large parcels of church held land on Rickman Parade have recently sold, with the parcel zoned for low density residential. Ms Howes said this was likely to propel Woorim’s top end market onto centre stage for price growth over the coming years.

Resolution Research are leading Brisbane based property analysts dedicated to market analysis, reports and forecasting on residential and retirement sectors. Originally published as “Next millionaire’s row revealed”

Bribie Beach

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To help you find your own home in paradise & lead you through the process in obtaining it:

Sheri Binzer – 0412 666 779          Paul Howard – 0408 068 770

For all your real estate needs sales, holiday & permanent property management services!

__________________________________________________________________________


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