It feels like the year is flying by as we get to the end of August. Ekka is finished, and we’re coming into Footy finals time!
Last week I went to a function which featured NAB’s Chief Economist, who believed interest rates look to remain on hold for the next 12-18 months. Clearly, a positive for homeowners around Australia but also means it could be a good time to look at 3 year fixed rates for property investors.
In this months update, we look at a Sunshine Coast dream deal, give you a quick (and positive) Brisbane property market update and we find a hidden gem in the Valley that is worth checking out!
Brisbane Property Market Update
For the first time since 2007, way before the Global Financial Crisis Brisbane’s property market is leading the nation in all four property performance indicators – defying the downturn that is slowing Sydney and Melbourne’s property markets.
While property values in Sydney and Melbourne have begun to soften, houses and units in Brisbane increased by 0.30% in the past 20 days according to CoreLogic, who own RP Data.
When compared to August 2017, values of homes in Brisbane are 1.20% higher.
At Hunter Galloway we have also begun to notice an increase in both First Home Buyer, and upgrader enquiries as the market continues to pick up. In an increasingly competitive market it’s important to have your finance in order, so if you do not have a pre-approval it would be worth booking an Information Session with our team to understand what your individual options are.
Sunshine Coast Dream deal for under $100,000
Yes you read right, you can own a beachfront property for under $100,000 on the Sunshine Coast.
But there is a catch.
You need cash to be able to buy it – not even we could arrange a home loan on these properties I’m afraid!
There are a few of these properties but in particular, there is a one bedroom, one bathroom unit in Marcoola – located about halfway between Mooloolaba and Noosa Heads and is listed for sale for $99,000.
Located in what was one of the very first hotels on the Sunshine Coast, the building was strata titled in 2000 and has a restaurant, gym and pool on site.
As the unit was originally a hotel, it doesn’t have a kitchen and unfortunately doesn’t meet the minimum space that the banks need to lend against – but if you want to own a piece of beach property, this is an easy way in!
New arcade opening in The Valley
Looking for something to do this weekend? B.Lucky and Son’s is Brisbane’s first ‘adults only’ arcade and cocktail bar!
Set to open on September 27th in the TCB Building on Brunswick Street, it is going to be “part cocktail bar, part video game arcade and part pawn shop”…. A Fairly interesting combination.
The owner says the idea is simple, “you come in here late at night, play a bunch of games, win some sweet prizes, then kick-on with pizza and cocktails at the bar!”
It sounds like it’s worth checking out, so we might see you there in September!