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Tips for Brisbane Success

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Liam Proberts, Managing Director of Brisbane-based bureau^proberts, has over 20 years’ experience designing award-winning multi-residential and mixed-use developments in Australian and international markets.

Brisbane Success

Liam shares his top five tips for creating successful development projects in Brisbane.

1. Know Your Neighbourhood

Brisbane has one major city plan made up of lots of smaller neighbourhood plans that encourage developers to respond to the character of a specific city area. This allows government to influence the overarching character of Brisbane in a meaningful way by providing specific incentives to developers. This is of real benefit to developers because it helps them build projects that are more attractive to the market and maximise yield, while at the same time making a significant contribution to the urban fabric of Brisbane.

building construction

2. Respond To Trends

The Brisbane market changes quickly, especially when demand for real estate is high. What the market wants changes almost monthly and developers need to be responsive to this. This means keeping a constant eye on the market by being across social trends. Successful developers are ready to commit to a project as soon as they see an opportunity but are also flexible enough to adapt if the market changes suddenly — for example, from three bedroom apartments to one bedroom studios. Developers need an experienced team that can alter the design just as quickly, and who has strong relationships with local authorities to fast track any planning issues through the system.

Urbanisation is a key trend that has led to more diversity in city populations and is therefore driving the need for more diverse urban housing options. Student housing, aged care developments and single person residences are all big trends in Brisbane now— we’re currently working on a number of owner/occupier single-bed houses, along with single-floor apartments as an alternative to a home. Developers who take into account current social trends are able to create more successful projects because they are directly meeting the needs of the market.

3. Develop Diversity

I believe that development has the greatest influence on how we will live in and enjoy our cities in the future. The quality and variety of developments shapes the character of the city, as well as being of value to the developer because it makes projects more marketable. In the last 18 months there has been a massive boom in the building of compact and affordable apartments in Brisbane, which reflects the rising awareness that you can live comfortably in apartments in a sub-tropical city.

As this awareness grows, so too the design of these smaller dwellings is changing and becoming more diverse in response to the greater demand. We need to look at how to encourage diverse projects that can be commercially successful and create a positive experience for the people who live and work in them.
4. Learn From Other Cities

In Sydney and Melbourne you tend to get ‘champions’ of particular areas in development and I believe there is a lot we can learn from these larger Australian cities. For example, the City of Sydney has its own authority to manage development. Brisbane’s cultural centres of the CBD, Fortitude Valley and South Brisbane would benefit from more incentives for high quality design developments and a special body to promote this could strongly influence the cultural heart of the city in a positive way. Developers can play a role by being advocates for high-quality projects that work for both their bottom line as well the overall character of the city, and by working with local governments to best improve Brisbane going forward.

5. Create A Point Of Difference

We should all strive to be adventurous in finding solutions that exceed client expectations and provide outcomes that make a really positive contribution to the city. bureau^proberts achieved that with M&A in Fortitude Valley. We worked with the local Council on the pedestrian laneway that runs through it and we created a retail and residential mix that has significantly contributed to the area and really livened up that corner of the Valley.

Another point of difference we try to promote in our work is bringing in specialists to help with a project, including working with artists. While the types of residences people require have changed, a desire for a strong sense of identity to place has not. Using integrated art in our building concepts we create developments that are individual and distinguishable, meeting the needs of both the end user and the developer.

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Opinion

These are the top 3 spots to bag a bargain in Brisbane: Ryder

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These are the top 3 spots to bag a bargain in Brisbane: Ryder

Property analyst Terry Ryder has picked three spots to invest in Brisbane. Picture: Richard Walker.Source:News Corp Australia

WANT to know where to invest in Brisbane that’s both affordable and offers the prospect of price growth? Look no further…

THERE are only three areas in Greater Brisbane that offer affordable real estate with growth potential, according to property analyst Terry Ryder.

The founder of Hotspotting.com.au has identified three precincts where there are plenty of houses well below the median Brisbane house price of around $530,000, close to transport links, shopping and jobs nodes, and with median rental yields in the 5 to 5.5 per cent range.

Here they are:

These are the top 3 spots to bag a bargain in Brisbane: Ryder

Hotspoting.com.au director Terry Ryder at his home in Queensland.Source:News Limited

1. Goodna-Redbank Plains, Ipswich

These suburbs are at the eastern fringe of the Ipswich local government area — the part closest to Brisbane, the motorway and the train line.

They are also close to the Springfield masterplanned community, which has an array of modern facilities, including university campus, hospital and commercial-retail precincts.

“There are numerous big shopping centres and major employment nodes nearby, with the recently announced $5 billion Defence vehicle contract focused on this precinct as a major new jobs creator,” Mr Ryder said.

These are the top 3 spots to bag a bargain in Brisbane: Ryder

Terry Ryder thinks parts of Ipswich would make a good property investment. Picture: Chris McCormack.Source:News Corp Australia

 These are the top 3 spots to bag a bargain in Brisbane: Ryder

Terry Ryder thinks Redbank Plains is a good place to invest in property.Source:News Limited

2. Eagleby-Beenleigh-Woodridge, Logan

Mr Ryder said these older suburbs in Logan had median house prices in the $300,000s and were clustered around the train line and the Pacific Motorway, both of which link central Brisbane to the Gold Coast.

“This is also where there is an impressive shopping offering, including major bulky goods retail, and well-established infrastructure like schools and medical facilities (as well as a surprising number of golf courses).

3. Moreton Bay

The suburbs of Beachmere, Burpengary and Upper Caboolture have experienced double-digit growth in their median house prices in the past year, according to Mr Ryder.

They are all close to major road and rail links, but aren’t as expensive as North Lakes has become.

Even in the Redcliffe Peninsula, where most of the water-focused suburbs are, the median house price is only in the $400,000s.

And the Peninsula now has rail links to central Brisbane, making it an even more appealing prospect.

These are the top 3 spots to bag a bargain in Brisbane: Ryder

The Moreton Bay Rail link has made the area more appealing to property investors, according to Terry Ryder. Picture: Tara Croser.Source:News Corp Australia

Source: moretoninvestor.com.au

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Opinion

Property tax hikes will hit economy hard

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Property tax hikes will hit economy hard

The state government’s planned property tax increases risk wiping the state off the global investment map, warns Chris Mountford,
executive director of Property Council Queensland.Kevin Farmer

THE state government’s planned property tax increases, due to come into effect on July 1, risk wiping the state off the global investment map.
As the government begins work on the State Budget, the Property Council is ramping up efforts to highlight the hidden effects of the tax hikes.

These tax hikes will increase the cost of doing business, damage Queensland’s economic competitiveness and impact on every Queenslander.

With Queensland preparing to leverage the Commonwealth Games to attract new investment opportunities, these tax increases couldn’t come at a worse time.

Election campaign costings, released in the days prior to the November 2017 state election, revealed the government’s intention to introduce new land tax thresholds for aggregated land holdings with an unimproved value above $10 million.

Individuals, companies and trusts who are within this new threshold will be subjected to a 25% increase in the rate of land tax from July 1.

The government has also committed to increasing the stamp duty surcharge on foreign buyers of residential property from 3% to 7%.

The end result of this decision will be higher business rents, higher costs for new homes and damage to Queensland’s reputation as an investment destination.

Businesses who lease premises from larger landlords can expect additional rental and occupancy costs.

New homebuyers can expect an additional $800-$1000 added to the cost of purchasing a new home.

We once were able to lure investment from interstate and overseas with attractive tax rates, but we now find ourselves uncompetitive with our southern neighbours.

The Property Council is calling for the government to abandon the tax increases and commit to review and modernise Queensland’s property tax framework.

Our current land tax thresholds haven’t been changed in a decade, leading to significant bracket creep as property values have increased dramatically.

We need a simpler, fairer and more attractive property tax system to unlock investment and create jobs.

An all-encompassing review of Queensland’s outdated thresholds and property tax rates needs to be undertaken to put Queensland back on the investment map.

Chris Mountford is executive director of Property Council Queensland.

Source: brisbaneinvestor.com.au

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Opinion

Ipswich house prices on the rise

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Ipswich house prices on the rise

This is according to the latest analysis by RiskWise Property Research which found despite below-average property price growth over the past three months, Ipswich is an attractive destination to home buyers and investors who seek affordable housing. Over the medium to long-term the region is projected to deliver solid returns.

The research house CEO, Doron Peleg, said this would be driven by very affordable dwelling options and ongoing population growth, in particular, by high levels of interstate migration from Sydney and Melbourne.

The $5 billion contract for 211 high-tech armoured vehicles will result in a new multimillion-dollar Centre of Excellence at Redbank and defence jobs for 40 years.

Ipswich Mayor Andrew Antoniolli said the contract would create more than 330 permanent jobs from the outset, build significant opportunities for local businesses and provide associated work with ongoing delivery and maintenance of the vehicles.

“Defence directly contributed to more than 7000 jobs and almost $800 million to the Ipswich economy in 2016-17. But this contract will mean jobs for the next 30 to 40 years, for the life of the contract,” Cr Antoniolli said.

Mr Peleg said with the Queensland Government also allocating $868 million towards infrastructure and road projects in July last year, it was likely to trigger a construction boom which would grow local employment and hence demand for housing.

He said the Ipswich area, which was just 40km west of the Brisbane metropolitan area, enjoyed a stable property market offering both affordability, with a median house price of $371,000, and excellent access to the growing local business areas.

“The Ipswich area did deliver a slightly below average price growth relative to the Greater Brisbane and Australian benchmarks over the past five years,” Mr Peleg said.

“This is likely a result of its geographic distance from central Brisbane and the coastline, where most of the housing demand is centred.

“But that bodes well for those looking for affordability and the area has a house price-to-income ratio of 5.2 which is well below that of Brisbane and the rest of Australia.

“Also, lending restrictions and the potential recommendations of the Banking Royal Commission that are likely to result in lower borrowing capacity, are likely to increase the demand for Ipswich property.”

Mr Peleg said the region had a high median rental return of 5.2 per cent for houses and 5.8 for units which surpassed both the Greater Brisbane and Australian medians and could be attributed to the “very low” median property price combined with the ongoing demand for rental properties across Ipswich.

He expected them to remain at a consistent level over the short to medium-term.

“However, it is worth noting that units, with an extremely affordable median price of $280,000, do carry a higher level of risk, particularly in the short-term due to high additional supply levels,” he said.

“The Ipswich area delivered lower capital growth for units than for houses over the past five years. We believe given the high supply levels expected over the next 24 months, it is likely the area will continue its poor price growth trajectory.”

Another 2,683 new units will be added to the local property market over the next 24 months which is an increase of 39.1 per cent to the existing supply and sits well above the number for Greater Brisbane.

Mr Peleg said this level of supply should be treated with “high caution” and was likely to slow the market for units over the short to medium term.

Visit www.riskwiseproperty.com.au

RiskWise Property Research was formed in 2016 with the goal of providing property risk advise and research services to help its clients make informed purchasing decisions.

Its goal is to provide private investors, home buyers, property professionals and institutional clients with detailed risk information to support smarter decision making. Its vision is to be a global leader in property risk rating and research helping its clients to achieve deeper risk insights so they can make smarter property investment decisions.

Source: www.miragenews.com

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