5 Brisbane Properties Under $1 Million
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5 Brisbane Properties Under $1 Million

Inner-city abodes under the seven-figure mark.

By Terry Christodoulou
Tue, Aug 17, 2021 2:54pmGrey Clock 4 min

3305/111 Mary Street, Brisbane City, QLD

3305/111 Mary Street, Brisbane City, QLD

Epitomising prestige and effortless living comes this elegant 2-bedroom, 2-bathroom, 1-car apartment on the 33rd floor of the renowned Westin Brisbane.

Here, herringbone floors, a deluxe kitchen  – with stone benchtops, gas cooking and sleek cabinetry – and an intimate dining area decorate the main living zone.

Elsewhere sees a separate home office and two well-scaled bedrooms replete with two stunning bathrooms – the master is complete with a walk-in robe and its own ensuite with balcony access.

Further, the home boasts a spectacular view over the CBD that graces you through floor to ceiling windows.

Located in ‘Mary Lane’, the home offers the ultimate in inner-city living, nearby to boutiques, dining and gardens literally at your feet.

The listing is with Ray White Metro North, POA; raywhitemetronorth.com.au

 

35/110 Macquarie Street, Teneriffe, QLD

35/110 Macquarie Street, Teneriffe, QLD

Set in the original Woolstore residence comes this opulent apartment in Brisbane’s secure Teneriffe Village.

With soaring ceilings, exposed beams and brickwork complemented by hardwood timber flooring throughout, the generous floorplan comprises of 3-bedrooms, 2-bathrooms and a single car space.

Inside sees open plan living, with a spacious kitchen complemented with oversize windows for streams of natural light.

A generous master suite offers luxurious accommodation with its own walk-in-robe and ensuite while two additional bedrooms and a bathroom make up the rest of the residence.

Elsewhere a separate study with built-in cabinetry informs the space.

The listing is nearby to the Gasworks and James street entertainment precinct while the CBD is less than 3km away.

Listing is with Ray White New Farm; rwnf.com

 

41/30 Macrossan Street, Brisbane City, QLD

41/30 Macrossan Street, Brisbane City, QLD

Positioned riverside in the centre of Brisbane comes this stylishly renovated 3-bedroom, 2-bathroom, 1-car apartment.

Generous living and dining spaces transition through floor to ceiling glass doors while the modern kitchen – complete with quality appliances – offers a focal point and plenty of storage.

Elsewhere the homes master suite offers its own balcony, walk through robe, floor-to-ceiling mirrors and a luxe ensuite with dual basins.

A further two bedrooms with built-in robes round out the apartment’s offering.

With Brisbane’s riverwalk at your doorstep, it’s only a short walk to the newly completed Howard Smith Wharves, Eagle St Pier and all the best Brisbane’s CBD offers

The listing is with Place Brisbane, $880,000; eplace.com

 

 

204/14 Helen Street, Teneriffe, QLD

204/14 Helen Street, Teneriffe, QLD

Situated on the second level in Obsidian apartments comes one of only thirteen residences within the boutique building.

Inside, arrives intelligent design, beautifully crafted interiors set within an impressive location.

Streamlined design, ceramic details, burnished gold accents and more invites you to relax and entertain in style on the private outdoor terrace.

An open plan living, and dining is the feature of the 3-bedroom, 2-bathroom, 2-car apartment, with the kitchen a focal point.

Elsewhere the oversized covered balcony featuring a built-in barbecue makes it the ideal entertainer.

Accommodation includes a generous master bedroom with a large robe space, internal feature fittings, shoe cabinet and more.

Further, two additional bedrooms, fitted with built-in robes complete the residence.

The home is a leisurely stroll from a plethora of renowned dining options and boutiques, this exceptional apartment is also close to the Teneriffe Ferry Terminal and river walk.

The listing is with Place Kangaroo Point; eplace.com

 4805, 222 Margaret Street, Brisbane City, QLD

 4805, 222 Margaret Street, Brisbane City, QLD

Located in the heart of Brisbane’s CBD, within the sky-piercing 274-metre tall  Brisbane Skytower comes the expansive 3-bedroom, 2 bathroom, 1 car garage abode on level 48.

Inside sees double glazed glass panels with floor to ceiling views of the city bringing light into the open plan living area.

Here, one finds the contemporary kitchen with quantum quartz benchtop, Ilve appliances and plenty of storage.

For accommodation, the home sees three spacious bedroom with an ensuite in the master.

Inside this luxury brisbane apartment complex comes an infinity pool, five-star resort recreational deck for entertaining, a gym and indoor pool located in the heart of the CBD.

The listing is with Yong Real Estate, $938,500; yong.com.au

 

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Investor buying of homes tumbled 30% in the third quarter, a sign that the rise in borrowing rates and high home prices that pushed traditional buyers to the sidelines are causing these firms to pull back, too.

Companies bought around 66,000 homes in the 40 markets tracked by real-estate brokerage Redfin during the third quarter, compared with 94,000 homes during the same quarter a year ago. The percentage decline in investor purchases was the largest in a quarter since the subprime crisis, save for the second quarter of 2020 when the pandemic shut down most home buying.

The investor pullback represents a turnaround from months ago when their purchases were still rising fast. These firms bought homes in record numbers last year and earlier this year, helping to supercharge the housing market.

Now, investors are reducing their buying activity in line with the decline in overall home sales, which have slumped with mortgage rates rising fast. But with investors’ large cash positions, and with big firms such as JPMorgan Chase & Co. planning to increase its exposure to the home-buying business, investors are poised to resume more aggressive buying when rates or home prices begin to ease.

These firms have seized on a pandemic-driven rise in demand for houses in suburban areas. These owners rented out the homes and increased rents on homes by double-digit percentages. By the first quarter of 2022, investors accounted for one in every five home purchases nationally.

But ballooning borrowing costs have kept investors from buying as much recently, said John Pawlowski, an analyst at Green Street. Buyers and sellers are also agreeing less often on pricing, stifling sales.

“It leads to a lot of people just putting down the pen,” Mr. Pawlowski said.

Rent growth has also begun to slow. Rents for single-family homes rose 10.1% year over year in September, down from 13.9% in April, according to housing data firm CoreLogic.

That rate of growth is still very high by historical standards, however, and much stronger than in the apartment market. Multifamily rent increases are now much lower by most measures. Near record-high rental prices are failing to attract as many new tenants, and demand in the third quarter fell to its lowest level in 13 years.

Demand for rental houses has held up better, in part because many of these homes are leased to relatively high-earning people who have found the for-sale market too expensive to buy, some analysts say.

That rent growth for single-family owners hasn’t translated into stock-market gains this year. Investors have lumped these owners in with home builders and sold many of them. Shares for the three largest publicly traded owners, Invitation Homes, American Homes 4 Rent and Tricon Residential, are each down more than 25% year to date, underperforming the S&P 500 over that period.

Rental landlords also face headwinds from rising property tax assessments that have come alongside enormous increases in home-price appreciation.

At the same time, large rental landlords are coming under greater scrutiny from federal and local governments. Congressional Democrats have hosted a series of hearings focused on eviction practices and rent increases. Three Congress members from California this month introduced a bill called the “Stop Wall Street Landlords Act,” which proposes levying new taxes on single-family landlords. It would prevent government-sponsored enterprises like Freddie Mac from acquiring and securitising their debt.

Many of the places where investors have eased purchasing are the same cities where they had counted for an outsize share of total sales. That includes Las Vegas and Phoenix, where investor sales dropped more than 44% in the third quarter compared with a year ago.

Fewer purchases by online house-flippers, or iBuyers, may have contributed to those declines, according to Redfin. Redfin decided to close its own home-flipping business, RedfinNow, earlier this month.

Nationally, investors still accounted for 17.5% of all home sales in the third quarter, a higher share than they held at any time before the pandemic, by Redfin’s count.

That share seems likely to rise again. Builders with unsold homes due to widespread cancellations by traditional buyers have been looking to sell in bulk to rental landlords.

Meanwhile, some institutional investors are now readying large funds to snap up homes. J.P. Morgan’s asset-management business said this month it had formed a joint venture with rental landlord Haven Realty Capital to purchase and develop $1 billion in houses. A unit of real-estate firm JLL’s LaSalle Investment Management, in partnership with the landlord Amherst Group, said it plans to buy $500 million of homes over the next two years.

Tricon has nearly $3 billion it plans to tap to buy and build homes. “We will lean in and deploy that capital when the time is right,” Tricon’s Chief Executive Gary Berman said on a November earnings call.

While a recession could bring down borrowing rates, it would likely be accompanied by higher unemployment, making it difficult for traditional buyers to take advantage, said Daryl Fairweather, Redfin’s chief economist. For investors, however, that could offer an opportunity to acquire homes at favourable prices.

“An investor may have more resources to jump in at exactly the moment when rates decline,” Ms. Fairweather said.

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