McDowall

Secret history of Brisbane's suburbs from A to Z

Secret history of Brisbane’s suburbs from A to Z

BRISBANE has a colourful and often turbulent past but how well do you know your own suburban patch? How a suburb was named provides an insight into the area’s history and what it was like before the days of urban sprawl. Many of Brisbane’s suburbs derive from Aboriginal words, or at least a European corruption…Read More→

Should You Keep Or Sell Your Property Located in a Gentrifying Suburb

Should You Keep Or Sell Your Property Located in a Gentrifying Suburb?

These are the North West's priciest properties in 2016

These are the North West’s priciest properties in 2016

McDowall Brisbane's Most Star Studded Suburb

McDowall: Brisbane’s Most Star Studded Suburb

The suburb of McDowall is one of the youngest suburbs in Brisbane, only formally being named in 1975. In fact the proposed name for the suburb was Annand but was rejected by the few locals that lived here at the time. The Primary school was opened at the start of 1975 and was named McDowall State School (after Colonel John McDowall), so this was the name that eventually was agreed to. Read more

Northside has Brisbane's Most Expensive Suburbs

Northside has Brisbane’s Most Expensive Suburbs

The latest RACQ Cost of Living report into housing affordability showed that four of the top five most expensive suburbs in Brisbane are on the north side of the river.

Top five priciest suburbs in Brisbane by median house price:

— Teneriffe $1.7m

— New Farm $1.5m

— Ascot $1.4m

— Hamilton $1.2m

— Chandler $1.1m

In our part of the world the latest median house prices are:-

McDowall $625,000
Everton Park $593,500
Stafford Heights $575,000
Stafford $580,000

Which is well above Brisbane’s median house price of $485,000.

The RACQ report showed that whilst having a sea view may be desirable, it does not necessarily mean that your property is worth more.  Suburbs like Wellington Point and Wynnum had median prices just a touch over $600,000.  Maybe there is value in our fortunate location close to the city.

You may be interested to know that the highest price achieved in McDowall this year was $1,300,000 for a Rode Rd property back in May.

If you would like to see what your property is worth give Madeleine Hicks Real Estate a call.

Why you should move to McDowall, Brisbane

Why you should move to McDowall, Brisbane

McDowall is fast becoming an ever popular choice for Queenslanders to put down roots. Named after Colonel McDowall in 1975, McDowall is populated by over 6,800 residents and flanked by natural landscapes, bushlands and wildlife.

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Off-the-plan or out-of-your mind

Off-the-plan or out-of-your mind?

Buying property off-the-plan, if done well, can be the beginning of a profitable journey for investors and owner-occupiers alike. And that means you too, first-home owner.

If executed well, buying off-the-plan can reap substantial rewards. And by ‘executed well’ we mean: consider market timing, do your research, make peace with your nerves and get a really good lawyer to help navigate the complex contract you’re about to cradle.

Increasingly, it’s not just investors who buy off-the-plan, with owner occupiers also seeing the up-side of buying tomorrow’s investment at today’s price.

So, let’s look at some of the factors that influence an off-the-plan purchase:

1.       Market timing

There’s no shortage of data showing that people are increasingly moving away from rural areas and concentrating in big cities. With land prices what they are and undeveloped land a scarcity in city areas, the only way is up. Literally. People are increasingly living in medium density housing (shop-talk for apartments). And it’s these types of more dense living options that are often marketed off-the plan, as well as being the residence of choice for inner-city dwellers. Of course, no discussion on market timing would be complete without looking at the how the real estate market is performing too. This will obviously influence your decision greatly.

2.       Do your research

The risks associated with off-the-plan purchases going pear-shaped are there. Google it, you’re sure to find some horror stories. But with thorough research you can buy from a trusted developer with a proven track record. In short, reputable developers tend to make fewer mistakes. And where possible, try to inspect properties that the developer has completed so you can gauge the quality of the workmanship.

Off-the-plan or out-of-your mind

3.       Make peace with your nerves

At the end of the day, the logic of buying an off the plan property is similar to other investments. You need to weigh the pros and cons as they apply to your life and circumstances. You will also need to understand your level of appetite for taking risks and your ability to mitigate them; because buying off the plan means that you are buying something you can neither see nor touch. You are essentially buying a promise.

4.       Get a good lawyer, But …

Get intimate with the contract. Seriously. If you’re going to do this right, and your research is showing up mostly green lights, then the contract is king (or queen). And it’s possibly your back door if things go wrong. Don’t hand this responsibility to your lawyer – a good property lawyer is still vital to this process – but you are the one making the transaction. And you are the one that needs to fully understand all possible areas of risk and what your next move might be in all given circumstances.

Buying off-the-plan is not for the faint-hearted. It’s not for the impulsive type. And nor is it for those who think ‘due diligence’ would make a great name for a character in a romance novel.

There’s a lot of good procedural-type information out there. Information that will help you to understand the process and pros and cons of buying off-the-plan. Get online and educate yourself.

Still, with all that said, buying off-the-plan can be a complex and a sometimes risky path to financial nirvana, but clearly you’d be out of your mind not to consider it an option if you’re looking for property, when so many have gone before you and come out the other end satisfied.