Brisbane a 'landlord's market' as rents hit record high after fastest rise in 15 years

Posted on 22 April 2024
Source:  Domain The rise makes Brisbane the second most expensive capital in Australia to rent a unit at $590 per week as of the March quarter – yet five years ago the city was the fourth most affordable. The priciest capital remains Sydney, where median weekly unit rents are $700. The figures, released today in the latest Domain Rent Report, revealed it’s the 11th consecutive quarter of growth for Brisbane unit rents and the steepest in about 15 years as the city battles a...

CoreLogic Home Value Index rises 1.6% in March quarter, adding around $12k to dwelling values

Posted on 22 April 2024
Source:  CoreLogic CoreLogic's national Home Value Index (HVI) rose 0.6% in March, on par with February’s increase, taking the current upswing in housing values through its 14th straight month of growth. Since declining -7.5% between April 2022 and January 2023, the national HVI has increased 10.2%, or, in dollar terms, by approximately $71,832, rising to new record highs each month since November last year. Adelaide and Brisbane had 1.4% and 1.1% growth. The remaining ...

Beenleigh landowner anger over offer for office building for new train station

Posted on 3 April 2024
Source:  Judith Kerr Owners of businesses in a once-bustling southside retail hub that are the latest target of the state government’s wrecking ball to meet rail needs have balked at the “unfair” price offered for the resumption of their properties. Southside landowners, whose businesses are being compulsorily resumed by the state government for a new fast rail train station, claim they are being ripped off while being forced out of sites they have worked from fo...

John Leeson - Fellowship of the REIQ

Posted on 26 March 2024
John Leeson was recently awarded a Fellowship of the REIQ, in recognition of his dedication to the real estate profession, long-standing membership with the Australian Property Institute and commitment to REIQ values. A Fellow is a practising member who has completed a total period of 15 years membership and who has been appointed by the Board for satisfying specified criteria. Fellows exemplify a high standard of professional conduct, an ongoing commitment to professional development and a...

Land Court Win

Posted on 19 December 2023
Source: Carwardines Land Court Win Recently Leeson Valuers represented a client to have the Land Value of an Industrial Property in the Enoggera Industrial Precinct reduced. Last year the Land Value was $1,350,000.  This year the Valuer General increased the land value to $2,400,000! A 70% increase when both Stafford and Kedron Industrial areas received a 0% increase. Following a big fight in the Land Court the good guys came out with a fairer valuation of $1,750,000. The proble...

Regional markets lag capitals' rent and value growth

Posted on 4 December 2023
Source: CoreLogic After recording stronger growth and milder declines through the recent cycles, a new analysis of Australia's regional housing markets shows many areas have lagged their capital city counterparts over the past year. Since bottoming out in January, values across the combined capitals have risen to new record highs, while the combined regional market remains -2.5% below the peak recorded in May 2022. However, CoreLogic Economist and report author Kaytlin Ezzy s...

Leeson Valuers Welcome Alison Dell as a Registered Valuer

Posted on 7 November 2023
Leeson Valuers welcome Alison Dell into the team as a Registered Valuer, having just completed her submissions and interview with the Valuers Registration Board Qld. Alison commenced as an assistant valuer in August 2021 after completing her Property Economics degree from CQ University and has been a great asset to the team. Congratulations Alison!   ...

Home Prices in Brisbane and Queensland

Posted on 7 November 2023
Source:  PropTrack Brisbane has led the nation in home price growth over the past month, with values hitting a new record high as homeowners brace for a potential rate hike next week, a new report reveals. PropTrack's latest Home Price Index, shows the city's unit and house prices combined gained another half a per cent in October to hit a new median price peak of $773,000 - almost as high as Melbourne's at $815,000 median.  That's the equal biggest increase for th...

Unit shortage exacerbates Australia's housing crisis

Posted on 9 October 2023
Source:  Australia and New Zealand Property Journal Medium to high-density housing is an increasingly critical component of Australia’s residential real estate market, with CoreLogic’s August data suggesting units comprise 25.9% of national housing stock and around 30.4% of Australia’s capital city housing stock – up from 19.6% and 22.9% at the start of 2010, respectively. Around 30% cheaper than capital city houses, themedian value of $637,593 capital city unit...

Brisbane rents just reached a record high. Is any relief in sight?

Posted on 9 October 2023
Source: Domain In a first, Brisbane is now the second most expensive capital city to rent a unit – jointly with Canberra - after median rents rose to a record high of $550 per week. Brisbane’s median asking unit rent climbed $90 over the past year, or 19.6 per cent, the latest Domain Rent Report for the September quarter,released on Thursday, found, in a record stretch of rent rises that’s fueling extreme rental conditions.  The report showed rental vacancy rates rema...
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