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Sep 9, 2022

Get Your Home Market-Ready with These Spring Cleaning Tips

Ah, spring sunshine is finally here and with it comes the sometimes dreaded and sometimes eagerly anticipated annual spring clean! It’s a time to shake off the figurative and literal cobwebs, declutter, and give your home a once-over from top to bottom. And while spring and cleaning may have become synonymous in your household, its origins run deep – it’s a biologically and culturally driven ritual that dates back many years. Here, we look at where it all began, how it differs from your regular cleaning routine and how to get started with getting your home in shape this spring. The origins of spring cleaning At a biological level, darkness promotes our bodies to produce more sleep-inducing hormones (melatonin), which is why it’s completely normal to feel like hibernating all winter. As we move towards the lighter and brighter months, our melatonin levels drop, and our body’s energy levels naturally increase. We shake off the winter blues and begin to feel livelier and more productive – all this leads to a natural zest for whipping our homes into shape. From a cultural perspective, Iranian, Jewish, and Chinese cultures all associate the practice of cleaning your home from top to bottom with important rituals. For Iranians, this is linked to Nowruz (the Iranian New Year) – where every home surface is scoured in preparation for the first day of spring. Similarly, in the Jewish culture, Passover (Pesach) incorporates thoroughly cleaning your home and the Chinese prepare for their New Year by washing and sweeping away any ‘bad luck’ that has accumulated in their homes over the year. Spring cleaning vs routine cleaning We all clean our homes regularly, right? So, what makes spring cleaning any different? Unless you belong to the immaculate, detail-oriented few, it’s unlikely you move furniture every time you vacuum, regularly wash your rugs and curtains, reorganise and declutter your wardrobe religiously and dust every surface daily. That’s what makes spring cleaning so different. Sure, it’s time-consuming, but it’s an opportunity to give your home a thorough, much-needed once-over so that your in-between cleans are sufficient. Now that you’ve got the history sorted and a good understanding of what’s involved, it’s time to get into the nitty-gritty details of how to get your home market ready with a thorough spring clean. Here’s where to place the focus… Kitchen cleanse Kitchens are the heart of the home and really do sell houses, so you’ll want yours looking spick and span. And while potential buyers might not be giving your surfaces the white-gloved dust check, clean surfaces will impact their overall impression. Pay particular attention to these areas: Shining stainless – give stainless steel surfaces and appliances a thorough clean to get them shining. Do the refrigerator shuffle – pull out and clean underneath and around the refrigerator. You’ll be surprised at the number of crumbs and long-lost items that have accumulated there. The dreaded oven clean – put on those gloves and give the oven a good scrub. While it’s not a pleasant job, it gets noticed – particularly the oven door. Glowing grout – refresh tired, discoloured grout with specialised cleaners or a baking soda solution. Declutter your cupboards and benchtops – this will make life easier when you come to move and give your kitchen a sleek, organised appearance for potential buyers. Don’t forget the kitchen sink – sanitise and clean this thoroughly until it looks like something out of a show kitchen. Beautify your bathroom Bathrooms are second only to the kitchen in importance to potential buyers but are typically the most hated room to clean and declutter. Pay special attention to: The shower – limescale encrusted shower fittings and water marks on shower doors are real turn-offs, so give your shower a shower and leave it sparkling. Storage solutions – storage space is king, so declutter your unused age-defying products and foot scrubs and watch the clear space unfold. Polish to perfection – polish tiles, window fixtures and tapware to freshen up the space. The great outdoors Don’t neglect your outdoor space when whipping your home into shape. A little attention can make the space feel bigger, well maintained and more appealing to potential buyers. Here’s how: Waterblast it – pavers aren’t supposed to blend in with the greenery, so give yours a thorough blast to breathe new life into them. Outdoor furniture can often do with a wash too. Prune and trim – welcome the spring sun by giving any tall trees or shrubs a bit of a haircut. Get the windows sparkling – barely there looking windows connect the indoors and out and create the illusion of a more spacious interior. Remove unloved garden items – it’s time for those old gnomes to find a new home, that broken outdoor chair to be binned, and the stray trellis to move on to a new resting place. Cleaning gets detailed It’s time to tackle all the surfaces and little jobs that get neglected during your regular weekly clean: Curtain and blind care – dust off the winter cobwebs and let the spring sun pour into your home. Remove and wash curtains, vacuum or dust the blinds and fix any cords or attachments that need some care. Wash the walls and ceiling – aside from a fresh lick of paint, giving your walls and ceiling a good wash with sugar soap and warm water is a simple trick to brighten your home. By removing grease, fly spots and dirt build-up, your paint job will look crisp and refreshed. Disinfect high-touch surfaces – things like doorknobs, cabinet handles, and light switches can be breeding grounds for germs – particularly during high traffic open homes. Keep yours sanitised and safe with a spray of disinfectant or a disposable wipe. Declutter all over Spring cleaning is not only about freeing your home of dust, dirt, and germs but also about making it a more pleasant place to live (for you and prospective buyers). Decluttering reduces stress and anxiety by creating space both physically and within your mind. Your physical environment plays a huge part in this, as we discuss in our blog, The Road to Simplicity. To get in the decluttering zone, follow these 6 tips: Set aside enough time – it’s not a 5-minute job, so ensure you’ve set aside a good couple of hours to get started on one area. Take everything out – yes, empty the entire pantry or the entire wardrobe. It’s the best way to ensure you’re mindfully putting things back in. Ditch double-ups – while it’s sometimes necessary or nice to have spares, consider if you really need two of the exact same things. If not, donate it. Everything in its place – make sure everything has a home. If not, look to new storage solutions to take care of this. Use the 3-pile approach – once you’ve got everything out of the space you’re decluttering, create 3 distinct piles – donate, rubbish, and keep. This helps you maintain clarity as you go through the process. Spring cleaned? Now it’s time to style! Once your home is cleaned to perfection and clear of clutter, it’s time for the fun part – injecting some fresh style into your home. Embrace seasonal trends, try some DIY styling tips, or call in expert home stagers if you’re preparing your home for sale – just be sure to give your local First National Real Estate office a call for market appraisal first! DISCLAIMER The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial, or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial, or real estate decisions. Click here for full Terms of Use.

Sep 8, 2022

Bigger apartments, more office: Sekisui’s quick moves pay off

Japanese developer Sekisui House has upped the valuation of its inner-city Brisbane West Village project in response to strong demand across the mixed use precinct. Built into and around two heritage listed buildings – the original Peters Ice Cream Factory and Factory 2 – the developer has adapted to changing market demands since ground was broken on the Boundary St site in 2018 to stay competitive and take advantage of new opportunities. Sekisui House’s project director for Queensland and West Village, Harrison Phillips, said the majority of the masterplan remained the same, but there have been some key changes, including fewer apartments in favour of larger layouts and a more substantial commercial offering. “The density is generally unchanged from the original master plan,” Mr Phillips said. “We’ve done more commercial and retail in our West Village master plan than we originally set out to do. That’s been very much a market led response and it’s about getting the balance right. “The daytime economy is important in mixed use precincts and office and retail very much helped the daytime economy and they’re synergistic, they work together. That’s the point of difference here at West Village – it’s the synergy of all the uses.” On the back of strong conditions, the end value of the bustling mixed-use development has recently been revised up from $1.1bn to $1.2bn. As the project moves into its final stages, the developer recently topped out its $76m “Greenhouse” office tower and has already fielded significant inquiry. The A-grade tower has 6500sq m of space with a grand foyer with Japanese-inspired water feature, to be complemented by a bespoke 6m x 6m Shoji lantern being designed for the space. Not only will it be a have a six-star green star rating, the Blight Rayner designed tower looks to make the most of its position with a rooftop garden and function space that overlooks the CBD alongside outdoor workspaces and premium end of trip facilities. Sekisui House will be moving its headquarters to the site, alongside Frasers Property which will relocate in August on a 10-year-lease. Residential has also received a strong response. Alturia was the latest tower to sell out, with the $140m complex capped by the penthouse selling for $4.935m. The Arcadia South + Gallery achieved $83.6m in settlements last December. A development application will soon be lodged with council for the final tower within the complex called “Callista on Park”. “By demand and by nature of the marketplace and very strong owner occupation, our units have grown in size,” Mr Harrison said. “We’ll end up delivering about 935 apartments at West Village in our state. Our original concept was probably closer to 1200. We’re finding people want a home rather than apartment. This is about lifestyle.” The residential is built around a core retail component anchored by Harris Farm’s flagship Queensland location and a Woolworths. Sights are currently set on Sekisui’s next moves in the Queensland market. Mr Phillips said the developer is planning to move away from large masterplanned communities, akin to its Ecco Ripley project near Ipswich, and focus on inner-city precincts more like West Village, with a fresh project in nearby Kangaroo Point on the cards.

Aug 30, 2022

Investors come knocking as billions of dollars pour into healthcare precincts

Health precincts are among the most in-demand commercial assets in the world just now, and in Australia, the market for them is growing exponentially. As quality healthcare remains at the top of every political agenda post-lockdown, both at the state level and federally, investors are increasingly scoping out the best as safe and profitable long-term bases for funds. “It’s about co-operation and collaboration between the public and private healthcare sectors, and the efficiencies that can come from combining so many facilities from a health and medical perspective,” Andrew Hemming, the managing director of Centuria Healthcare, told a Property Council of Australia seminar on the sector. “What we want to do in Australia is support manufacturing, testing, teaching and educating locally rather than offshore, so we’ll have product to use locally. The pandemic was the perfect storm for that; supply was a massive issue. So, the more we can create and teach and treat here and create the IP, the better.” Australia has a growing number of healthcare precincts around the country, both in the cities and in regional and rural areas. Key drivers include the complementary mix of health and medical services so they can work together on strengthening the innovation ecosystem, as well as having the ability to test, manufacture and distribute health and medical products. By grouping clinics, hospitals, research facilities and other health assets together, they will have the capacity to attract talent, and allow a population to live locally, secure in the knowledge that they won’t have to travel to their nearest city for health services. Instead, they should be able to receive the whole span of healthcare in one main hub, from hospital treatment to outpatient services and nearby accommodation. A good example is the Bloomfield Hospital at Orange in NSW, which services a population of around 90,000 living within a 50km radius. Services include radiology, pathology, a compounding pharmacy and a 24-hour emergency GP, along with the clinical training facility of the Charles Stuart University. In addition, the Bloomfield Medical Group has a base at the precinct, as well as a 23-room private hospital with seven operating theatres. Today, such comprehensive healthcare precincts are attracting big money. The award-winning Vitality Village healthcare development within Australia’s largest healthcare hub, the $5 billion Sunshine Coast Health Precinct, has just been listed for sale, with expectations of “northwards of $32 million”. The 4,636sqm five-level development, 12km south of Maroochydore, by the Double R Group is being sold via an Expressions of Interest campaign by CBRE. Agent Rem Rafter said, “Vitality Village has been designed to provide a truly collaborative health and wellbeing environment to identify and deliver significant improvements to healthcare and wellbeing through collaboration between providers, innovators, researchers, and the community. “Given its close proximity to the Sunshine Coast private and public hospitals and an income profile that is highly weighted to the healthcare sector, we anticipate high levels of interest.” There are challenges in the healthcare market, however, with private operators and developers having to deal with international funding models, increased demand for private health services, changing marketing conditions and a focus on world-class precincts. It means that funds, operators and developers need to be adaptable to remain competitive in a challenging market, the seminar held last Thursday was told. “It is an attractive market in Australia and a growing one,” said Alex Belcastro, senior vice president medical precincts NorthWest Healthcare Properties. “We have an ageing population and a growing spend per episode of care. The spend on private health insurance is also declining every year and there are increases in pressure on both the private and the public systems.”Meanwhile, the pandemic has accelerated public and private partnerships and the development of virtual care funding models, like telehealth, and medical technologies. Consumers are also increasingly choosing public healthcare while the system is currently under strain from workforce shortages and skill mismatches. “But we’re seeing some other shifts from the property perspective,” said Belcastro. “Private operators have adopted more efficient short-stay, high-volume models and we’re seeing a rise in the number of day-surgery small hospitals … “At the same time, we know that public hospitals perform better when there are private hospitals nearby because doctors have both public and private appointments, and the public facilities need the private sector to come and invest.” In NSW, for instance, there’s been a huge infrastructure spend over the last few years, with healthcare one of the top priorities. The NSW Government has invested a record $11.9 billion in health infrastructure to 2025, advises Troy Harvey, executive director development and commercial at Health Infrastructure, with a $2.8 billion program currently underway in 2022-23. “There’s a role for government here, and we’re really focussed on delivering on that role,” he said. “There are now more than 130 health capital works projects underway.” Health precincts are central to the vision being put in place, as they are seen to drive economic growth, knowledge jobs and innovation, while investment is also being leveraged to increase partnerships, commercialisation and innovation pathways and opportunities. But collaboration between the different parts of the precinct is always critical for its efficiency, sustainability and long-term value, said Belcastro. When the public and private sectors, for instance, use different technology platforms for patient records and therefore can’t communicate effectively, opportunities for closer co-operation and better healthcare are irretrievably lost.

Aug 19, 2022

Australian Housing Values Reach All-Time High

The Australian property market has experienced considerable growth over the long term as housing values gradually increase every year. That’s why so many Australians want to own their own home or delve into property investment to build wealth over their lifetime. As the cash rate increases for the third month in a row, it’s important to note that the value of your own home is also increasing. For the first time, the combined value of Australian residential properties exceeded $10 trillion in March this year, doubling in value over the past seven years ($5.1 trillion in 2014). These promising values indicate that the market is steadily growing over time, a positive sign for homeowners. While those Australians who are yet to enter the property market may feel wary of the increasing prices, the historically low interest rates right now provide an opportunity for first-time buyers to secure a low interest loan before rates continue to rise. According to the Australian Bureau of Statistics, the average price of residential dwellings in Australia was $920,100, an increase of $44,000 since the September quarter of 2021. The growing value of Australia’s 10.8 million dwellings is due to record low interest rates and strong demand. According to CoreLogic, dwelling values are 11.2% higher over the past 12 months, as every capital city has experienced a peak rate of growth. With both gross rent yield and rental value remaining high across the country, it is a profitable time for investors who are currently in the market or looking to enter. While there is uncertainty in the market regarding the increasing interest rates, it is not the first time Australia has experienced challenges in the market, having always managed to bounce back from downturns. The average interest rate from 1990 until 2022 has been 3.87 percent, which indicates that the current rate, at 1.35% (July 2022) is significantly lower than previous rates over the years. To control inflation, the cash rate is likely to continue rising over the near future; but according to the RBA, the inflation rate is expected to drop back to the target range between 2 and 3 percent next year. The negative media attention surrounding the RBA’s monthly decisions may ignite uncertainty in Australians. With record low interest rates and rising house values, it is still a suitable time to enter the market and work towards your property investment goals.

Aug 17, 2022

CoreLogic RP Data Market Update - Brisbane August 2022

Aug 10, 2022

Brisbane nightclub venue GPO Hotel undergoes $7 million makeover

The ambitious hospitality group behind the Cali Beach Club in Surfers Paradise is taking over the iconic GPO Hotel in Brisbane’s Fortitude Valley, with a $7 million renovation already underway. Built in 1887, the well-known property on 740 Ann Street operated as a popular nightclub for many years before it was shuttered during the pandemic and sat vacant for two years. An investment firm headed by Sydney Roosters chairman Nick Politis paid $6.765 million for the property last year, title documents show. Now the building is getting a new lease on life, with Artesian Hospitality signing a 25-year lease for the historic former post office building and two adjoining buildings on site. “We will be putting multiple venues within the building to establish it as a precinct,” said Artesian Hospitality managing partner Matthew Keegan. Keegan remained tight-lipped when asked if the new precinct would return as a late-night clubbing destination, only saying further details about the new venues would be announced in the coming month. Work is already underway on the site, with hopes to throw the doors open to the public at the end of this year, or early next year. “They’ve already finished demolition,” Keegan said. “Now we’re restoring a lot of the heritage architecture and commencing work on the fit-out.” The significant $7 million bill for renovations will deliver high-end bars, kitchens, toilets and dining areas, Keegan said. Artesian Hospitality is making a name for itself in south-east Queensland, building a portfolio of high-end and scaled-up venues. Its most recent venture, the Cali Beach Club, opened last September following an enormous $10 million fit-out that included four large pools, poolside cabanas, two restaurants and four bars. The company says the result is a luxurious “adults playground”, where partygoers can drink, lounge and dance under the sun and the stars. “We’ve had an amazing first year,” Keegan said. “It probably exceeded expectations considering the impact of the pandemic. We were surprised by how much support we got from the Sunshine Coast, Brisbane and all the way south to the border.” Covering a massive 5000 square metres, it lays claim to being among Australia’s largest day and night entertainment precincts. And it doesn’t end there. The group has just inked a 25-year lease to take on the rest of the building underneath the Cali Beach Club. In addition to another three or four venues in the pipeline, Keegan said it would also become home to Artesian’s corporate headquarters. As part of the deal, the building will be named Artesian House. The group currently operates six venues on the Gold Coast, including Surfers Pavilion and White Rhino Bar and Eats, however, the GPO Hotel marks its first foray into the Brisbane market. “The natural progression was to move north and south of where we currently are on the Gold Coast,” Keegan said. “The Valley has evolved a lot over the past year, with the advent of James Street and rooftop bars. It’s quite cosmopolitan. It was an easy decision to look to the Valley as the next logical place for us to establish a footprint.” Going forward, Artesian Hospitality’s sole expansion focus is on “large-scale, multi-venue operations”. “We’re eyeing national expansion,” Keegan said.

Aug 1, 2022

Australians Can Now Purchase Their First Home With Just A 2% Deposit

The thought of purchasing a home in today’s market might seem far-fetched, which is why the Australian Government has introduced the Home Guarantee Scheme, to support lower-income earners in entering the property market. Coughing up a 20% deposit may seem an impossible task for many, but with the new Guarantee, Aussies will be able to purchase or build a home with a deposit as low as 2%. Furthermore, buyers will avoid Lenders’ Mortgage Insurance, as the government guarantees their loan. From 1st July 2022, the government has expanded the previous First Home Loan Deposit Scheme to introduce: First Home Guarantee Family Home Guarantee Regional Home Guarantee Under the Home Guarantee Scheme, eligible first home buyers can purchase a modest property that does not exceed the price cap for their relevant area. For example, the property price cap for capital city and regional centres in New South Wales is $900,000 and $750,000 for the rest of the state. Across the country, 32 lenders will offer the scheme, including Credit Union SA, Illawarra Credit Union, IMB Bank, Commonwealth Bank, and NAB, offering various options for borrowers. The First Home Guarantee (FHG) will support up to 35,000 places each financial year, enabling eligible first home buyers to purchase a home with a 5% deposit. Under the new FHG, the National Housing Finance and Investment Corporation (NHFIC) will guarantee to a lender up to 15% of the value of the property that is financed by the buyer’s loan. Low- and middle-income earners can now purchase their first home sooner and avoid paying Lenders’ Mortgage Insurance. Lenders’ Mortgage Insurance protects the lender in case the borrower defaults on their loan repayments, usually if borrowing over 80% of the property value. With the FHG, the government will guarantee your loan. As part of the scheme, you’ll save money by not paying Lenders’ Mortgage Insurance or the interest associated with it. The Family Home Guarantee will support up to 5000 places each financial year for single parents to purchase a home with a 2% deposit. Single parents with at least one dependent child are eligible, regardless of whether they have previously owned a home. By contributing a minimum 2% deposit, the NHFIC will guarantee up to 18% of the loan to the lender. The Regional Home Guarantee allows Australians to purchase a home in a regional location with a 5% deposit. To avoid paying LMI, the government will guarantee the loan. However, this Guarantee is available only to those who have not owned a home for at least five years. There are eligibility criteria that need to be met for Australians to apply for the scheme including but not limited to: Household income thresholds (up to $125,000 for individuals and $250,000 for couples) Property price caps Prior ownership of a property Citizenship Check your eligibility before applying for the scheme, as there are limited places available. If you are a low- or middle-income earner in Australia and are eager to purchase your first home, the Home Guarantee Scheme is an excellent way to achieve your property goals. With greater access to the market, the lower deposit requirement will enable Australians to purchase or build the home of their dreams sooner than they imagined. DISCLAIMER The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions. Click here for full Terms of Use.

Jun 16, 2022

Brisbane CoreLogic RP Data Market Update June 2022