Moreton Bay

Brisbane's north-side is continuing to expand, with property developer Marquee Development Partners' Burpengary development&nbsp;drawing over $12 million in sales in less than a week.

The residential community Vale has seen 70 per cent of the Stage 1 house and land packages sold within the week, showing demand for quality and affordable housing still remains strong.&nbsp;

Colliers Director Jon Rivera said the interest in the project comes from a backlog of Colliers clients who have missed out on previous north-side communities, at an affordable price point.

“Within one week of hitting the market, over 70 per cent of Stage 1 has been sold, before we have even had the chance to market it widely,” Rivera said.

“In this current market, I would expect to sell the remaining homes within a month, with the remaining house and land packages priced in the mid to high $600,000's, and better priced by around $60,000 than the surrounding market."

"Vale offers irresistible value whilst we’re in the midst of an affordability crisis,” he said.

Marquee’s Sales Manager, Azura Griffen, said Vale’s location in Moreton Bay’s burgeoning suburb of Burpengary, just minutes from North Lakes and centrally located between Brisbane and the Sunshine Coast, has been another drawcard, positioning residents just minutes from public transport, schools, shopping, dining and entertainment options.

“The leafy boutique infill community of 76 flat blocks is surrounded by a thriving, established community," Griffen said.&nbsp;

“With over 42 per cent of the masterplan reserved for green space and a variety of land sizes ranging in size up to 762 sqm, Vale is ideal for families that want to be surrounded by nature, but just a stone’s throw from a range of amenities."

“Vale is a place where families will thrive, at a price point that they can afford, and that is why we are seeing such incredible interest.”

<a href="https://www.urban.com.au/developers/marquee-development-partners">Marquee</a> have partnered up with LH Property Partners for the project, which is being marketed by Colliers.&nbsp;

Construction on Vale is forecast to commence in May 2023.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/marquee-launch-monterey-one-of-kirras-last-beachfront-addresses">The best views in Queensland? How Monterey apartments in Kirra Beach offer unrepeatable views</a>

Marquee's sub-$700,000 price tag draws over $12 million in sales in less than a week in their residential community Vale, in Brisbane's Burpengary.

alisonwarters@gmail.com

Marquee secure over $12m in sales in less than a week in Moreton Bay's Burpengary

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The latest event in the evolution of the Brisbane market is the strong emergence of the Moreton Bay Region in the far north of the city.
It has joined Logan City in the far south as the precinct with the most momentum in the Greater Brisbane area. Meanwhile, Ipswich City in the south-west is putting its hand up as well.
Most national commentators misunderstand what’s happening with the Brisbane market. They look at that single figure which apparently describes the whole Brisbane metropolitan area and conclude not much is happening. Australian Property Monitors says Brisbane prices rose 5% last year while CoreLogic RP Data says 4%.
But beneath that one generalised (and highly misleading) figure, there has been lots of activity in precincts which have recorded double-digit annual growth in median house prices.
Markets in the Greater Brisbane area have been on the move for about two years. The inner-city suburbs were busy a couple of years ago and then the middle-ring suburbs on the northside surged. Many of them had annual growth in the 13% to 15% range. The middle-ring suburbs on the southside joined the party 12-18 months ago.
Now it’s the outer-ring areas that are leading. There are still rising suburbs in those northside and southside middle-market precincts, but it’s the cheaper areas on the outskirts that have the greatest activity and momentum.
In this regard, Brisbane is displaying the same pattern we have seen over the past three years in Sydney and Melbourne – the upturn started in the near-city areas and gradually gravitated outwards from the centre. The Ripple Effect is alive and well in residential real estate.
In Brisbane, Logan City (which is the urban bridge between Brisbane and the Gold Coast) has been  the market leader in terms of sales volumes for the past 12 months or so. But now it’s counterpart in the north, the Moreton Bay Region local government area (which is the urban bridge between Brisbane and the Sunshine Coast) has mounted a challenge.
Like Logan City, Moreton Bay Region is all about affordability, transport infrastructure and jobs nodes. Many of the suburbs of Moreton Bay Region – including Caboolture (the capital suburb), Morayfield and Deception Bay – have median prices in the $300,000s, while Burpengary and Narangba are in the low $400,000s.
These are high-volume housing markets: Caboolture, Deception Bay, Morayfield and Narangba have each recorded over 340 house sales in the past 12 months. Some have seen median prices rise 6-7% in the past year – but, in terms of price growth, they’re just getting started.
Median rental yields are an attraction for investors, ranging from 5.2% to 5.6% in most of the suburbs of the Moreton Bay Region. 
The LGA includes the Redcliffe Peninsula, which has heightened appeal because the long-awaited Moreton Bay Rail Link will be completed this year.
The overall region has improved amenity through the evolution of the North Lakes master-planned community, which includes major retail (and will soon include an Ikea superstore).
The region also has good proximity to Brisbane Airport, the Port of Brisbane and the Australia Trade Coast industrial precinct, which means plenty of jobs are handy to the suburbs of Moreton Bay Region.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Brisbane's Moreton Bay gaining strength: Terry Ryder

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The multi award-winning Mon Komo Hotel, along with 33 strata titled short stay apartments in the Moreton Bay region have hit the market.
Michael Simpson and Leon Alaban of Savills are marketing the sale which has the opportunity for an incoming buyer to purchase the assets in one line.
Situated at 99-101 Marine Parade, Redcliffe, the properties are being offered for sale by way of an expressions of interest campaign, closing June 28 2019.
The apartments form part of the Oaks Mon Komo, with the vendor selling 33 of the total 76 apartments located in the complex, representing 43% of the total lot entitlement.
Managing Director of Hotels at Savills, Michael Simpson, said the short stay apartments are a well-established business under Oaks.
“The apartments boast occupancy rates of over 80 per cent each year at a very strong average daily rate. It is one of Oaks’ best performing hotels,” Mr Simpson said.
The offering is currently owned by developer Kyko Group, led by Bill Jenkings, who said the Group has decided to sell the Hotel in order to focus on acquisitions for their future development pipeline.
Set across two levels, the Hotel features four bars including Cabana Bar + Kitchen, Seabrae Bar &amp; Nightclub, Treasure Lounge, plus the function and convention centre.
The popular food and beverage venue generated revenue in excess of $6.9 million last year.
Located between Cabana and Seabrae, The Treasure Lounge gaming room features 21 EGMs with an approval in place to operate up to 40 EGMs.
The Hotel currently operates without an onsite bottleshop, or any of the three detached bottleshop sites it is currently permitted to operate under its commercial liquor licence.
“We expect that the offering will be sought after by an array of local and interstate hoteliers and strategic property investors,” Mr Simpson said.
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Oaks Mon Komo Hotel and apartments listed through Savills

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The Greenhouse, the eco-home at Wights Mountain, has been sold for $2.6 million.
The 2.4 hectare estate overlooks the rolling countryside in the Moreton Bay region, north-west of Brisbane.
Completed in 2017, the Shaun Lockyer Architects designed modern farmhouse seeks to connect to the environment. 
The use of iron bark timbers connects the house to the landscape of towering eucalyptus.
Its landscaping was designed by Dan Young featuring drought tolerant native plants.
The building block, now with dog proof fencing, cost $650,000 in 2015.
Lee and Lee-Anne Stevens who run Healthy Abode, a consulting and project management company for natural, clean, simple living, then created their own sanctuary.
It was about space, energy and health, slowing down and enjoying the simple pleasures in life.
The house has a functional one level floor plan where each room is accessed off a long corridor.
It has four bedrooms and two bathrooms. There is also a studio apartment.
There's an organic veggie garden at the front of the home. Chooks can roam in the rear courtyard.
The infinity edge swimming pool comes with an outdoor entertaining area with built in barbecue kitchen.
Matt Lancashire at Ray White sold the home.
The Stevens have since spent $1.08 million on a 1980s cottage on 8,100 square metres in the Byron Bay hinterland.
This article first appeared in The Weekend Australian. 
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Shaun Lockyer-designed trophy home at Wights Mountain, Queensland sold

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House and unit median prices in Moreton Bay have mostly risen over the past year, according to the latest research from PRDnationwide.
According to the South East Queensland Property Hotspots: Second Half of 2016 report, Burpengarry East led the way for house price gains in the region with a 22.7 percent year on year median price gain.
<a href="https://www.propertyobserver.com.au/images/2017/02/01/MORE-1.jpg" target="_blank">Click to enlarge</a>
<a href="https://www.propertyobserver.com.au/images/2017/02/01/MORE-1.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/MORE-1.jpg" alt=""></a>
Deception Bay and Beachmere are two of the cheapest house price areas in the region, but with millions of infrastructure slated for those areas, they may improve upon already healthy rental yields of over 5 percent.
<a href="https://www.propertyobserver.com.au/images/2017/02/01/more-2.jpg" target="_blank">Click to enlarge</a>
<a href="https://www.propertyobserver.com.au/images/2017/02/01/more-2.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/more-2.jpg" alt=""></a>
 
<a href="https://www.propertyobserver.com.au/images/2017/02/01/more-3.jpg" target="_blank">Click to enlarge</a>
<a href="https://www.propertyobserver.com.au/images/2017/02/01/more-3.jpg"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/more-3.jpg" alt=""></a>
 Median unit prices have stalled in Moreton Bay over the past couple of years, although media house prices continue a solid gain. 
Click to enlarge
<a href="https://www.propertyobserver.com.au/images/2017/02/01/more-4.jpg"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/more-4.jpg" alt=""></a>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-burpengary+east-124362566" target="_blank">3 Camphor Court</a>, Burpengary East (above) has bee listed for sale for over $549,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-burpengary+east-124156498" target="_blank">443 Uhlmann Road</a>, Burpengary East (below) has been listed for sale for over $549,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/01/443%20Uhlmann%20Road.jpg" alt="">
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Moreton Bay property comes with healthy yields: PRDnationwide

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First home buyers have purchased nearly 70 percent of homes so far within Caboolture's 400 acre Central Springs residential development.
The project, from QM Properties, will feature nearly 1000 new homes completed by 2023.
Damien Ross, QM Properties general sales manager, said since release 40 sales have been made, all off-the-plan.
“First home lending and buying is certainly on the rise in Queensland, and it’s great to see people considering the Caboolture and Moreton Bay region," he said.
“Growth in the area, attractive house prices and its proximity to Brisbane’s city centre make Central Springs an appealing and affordable option for first home buyers.
“We have also seen a large amount of interest from the local first home buyers with 83.3 percent of our buyers already living in the Moreton Bay area, which shows great faith in the region."
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