69 Middle road, Hillcrest
Dear Alex.
We have selected this property for you based on the location as Hillcrest has been predicted to have significant growth in our quarterly reports.
A unique benefit of this property is the tenants have just signed a 5 year lease at $450 per week with 2% increases every 1 years, admittedly, 2% increase is on the low side, but you do have security of tenants for the next 5 years and management is only at 6.6%
They do want $420 000. But I suggest we try secure it at $400 000 which is under market value based on the comparable sales in the area.
The property is going to Auction, but the agent said they are accepting offers prior to Auction but will need shorter finance and building and pest clauses as they want the property to be unconditional prior to Auction.
Hillcrest is in a blue chip pocket of Logan, highly owner occupied and close to all the major amenities, such as private schools, university and hospitals.
Please read on for more information
It’s with great pleasure to present
Your Focus Market
and property
DISCOVER OUR METHODS
HOW DO WE select OUR MARKETS?
In proud partnership with Australia's top property economists, we formulate specific data reports based on our client's requirements and the markets we shop in. Our partners have been awarded the Innovation Patent in August 2016 for his invention of the Housing Market Prediction Solution, which predicts housing price changes at suburb level up to ten years into the future.
Our methodology aligns with a number of different driving factors. Some of these include government funding, economic uplifting projects, infrastructure introduction, flanking market affects and more. However, the underlying factors comes down to a couple of basic principals, supply and demand from population movement and demographic demand.
Targeting locations which will grow in value by understanding what these push and pull factors are, when they will occur and how long they are due to last is what allows us to make assumptions for strong market growth.
your Hot market
LOGAN CITY
Logan is home to more than 327,000 people from more than 217 different cultures.
Logan is home to many Aboriginal and Torres Strait Islander communities. Traditional Custodians represent the original Aboriginal inhabitants of the area. There are also Elders and people who have come to live and work in the City.
New estates flourish as the city grows. Residents enjoy a range of housing options, from leafy suburbs to bushland acreage.
Logan is located between Brisbane, Ipswich and the Gold Coast which allows residents easy access to the national highway and rail networks.
Logan has more than 1,100 environmental and recreational parks. Many of the parks feature dog off-leash areas, exercise facilities, play equipment and skate ramps.
CREASTMEAD 4132
Market Conditions
6.9% median value growth in 1 year
The markets movement over the past year, paired with supportive driving data shows us there is good growth to come.
Decrease of -1.6% over the year DOM displays an increase in buyers sentiment
The fall in days on market (DOM) shows that market conditions are heating up which will result in market growth as demand increases.
-5.28% vendor discounting shows us an understanding of the market's performance
As properties begin to grow in value, vendors are realising the interest in the market and discounting less.
The current rental yield in the market is 5.14%
As we are looking for a positively geared property, yielding will need to be considered. We can expect this to rise due to the supporting data.
The number of new listings has decreased by -6.9% in the last year.
The reduction of new listings tells us that vendors are realising the values of their properties, and are therefore holding their assets.
Stock on market has decreased by -5.0% over the last year
As vendors begin to realise the markets potential, savvy owners are holding their properties to gain the value in the markets current and forthcoming growth.
Market Performance Over 1 YeaR
Economic Profile
Economic Development Strategy
Economically supporting projects
our suggested Property
69 Middle road, Hillcrest, Qld 4118
Property details
4
2
2
Asking Price
Market Value
Current Rent
Potential Yield
$420,000
$400,000
$450 p/w
5.57% Gross
Where is this Property
Why is this a good option?
What should i know about this property?
Are there easements on the property?
No, there are no easements.
Easements are areas which need to be accessible by council or other similar authority figures. An easement could be related to sewage piping, gas lines or electrical works.
does the property fall in flood lines?
No, the property is not in flood lines.
Flood zones are caused by obvious causes. In areas where the terrain is fairly flat and river banks overflow, properties which fall within these catchments warrant higher insurance costs.
Is the property correclty zoned?
Land Use 1: Single Unit Dwelling Zoning: RESIDENTIAL 600 (4600)
Building and council regulation states that the dwelling on top of the land needs to be classified correctly for the type of structure that it is.
Are there any caveats on the property?
There are no found caveats on the property.
A caveat is a ruling or law attached to the property, usually with a contract attached to it. If this is the case, the caveat needs to be understood as to what it is, who it benefits and when or if it expires.
Are we satisfied with the property's title?
Yes, initial legal searches are disconcerting.
The initial property title search shows a number of legal details, namely the lender, registered owner, administrative advice and more.
Are all council costs paid to date?
There are no records of outstanding council cost.
Outstanding council costs can come form CDC or DA work that has been put in action on the property. It could also come from maintenance charges and similar services.
Is the property in adequate condition?
Yes, the listing agent feels the photos represent and display fairly. Owners are getting the property ready for market.
In communications with the listing agent, he/she has confirmed the condition of the property is as the listing shows. This will be verified by our team in the steps moving forward.
What are the council rates for the property?
Approximately $1500 per half-year.
Council rates are paid by the owners and fund council work and operations. Generally, the smaller the population and larger the council, the higher the fee is.
What are the landlord insurance cost?
Approximately $1200 per year
Landlord insurance is an compulsory free for the possession of a tenanted investment property.
how many days has this property been on market?
No available information
There are 3 types of listing stages:
- On-market, this is found on major portals
- Off-market, this is for sale, but with the listing agent only
- Pre-market, this has been presented to us outside of the public
None of these types of listing types define the quality of the property.
When was the property Built?
Year of build: 1994
The build year should be considered when purchasing properties of different structure types. The price of the property can be reflective of the build year vs the structure type. Some structure types age better than others. At a certain price point, it is worth remembering that land is the appreciating asset, while the dwelling is the depresiationg asset and can be reflective in the age of the property.
When are the lease renewal dates?
Waiting for more info
Tenure renewals dates need to be considered in rising markets. If the market is rising, your ability to increase rental rates will on be possible at the time the tenants lease period has come to an end.
Wheat are the lease rates associated?
Currently rented at $450/week
Lease renewal rates cannot be changed inside of lease periods, for the benefit of the tenant.
What to expect
THE BREAKDOWN
All cost associated to the purchase, management and upkeep of the property are taken into account and shown here, along with the rental returns based on today's conditions. Net results are based on 1 year results and consider all costs including interest only rates but exclude personal tax rates. The data available to us gives us an understanding of how market conditions are affected. We can make assumptions for the property to grow in value for the remaining growth cycle period.
all funds associated
