Everton Park enjoys low days on market – Shannon Davis + Madeleine Hicks

Next promising suburb on our search of Brisbane is on the Northside.  This one is just eight kilometers from the city and is predominantly residential, with more than a quarter of its population residing in semi-detached and higher density dwellings.  Everton Park has a median price of $600,000 and a low selling time of just 35 days.
Kevin:  Welcome back to the show. My special guest this morning is Shannon Davis from Image Property and also from Metropole Properties. We’re looking at the key suburbs around South East Queensland, particularly Brisbane, that you should be having a look at.
This time we’re going to turn the focus onto Everton Park, Shannon. Tell me a little bit about that.
Shannon:  We’re switching north-side this time, Kevin. Everton Park is a lovely small suburb there, and good shopping, schools, transport – what we’re looking for. Again, it has a high percentage of owner-occupiers and the vacancy rate is only around about 3%, which is quite good right now. The vendors are only discounting prices by around negative 3.3% off the ask, and it’s had a strong 18.2% growth over three years.
Kevin:  So, it’s a fairly good growth. It’s a fairly consistent area. Low days on market. We’re looking at around 35 days.
There are some pretty constant themes right through all the properties and areas that we’re looking at. Days on market is always around that 30 to 35 days, percentage of renters, and also the yields in there.
Yields in Everton Park, 3.9% for houses, 4.4% for units. Not the best yields you’ll get, but nice and solid. And I think more particularly, it’s all about the growth, because you mentioned there’s a three-year growth of 18.2%, Shannon.
Shannon:  Yes, yields can lag a little bit behind because of the way we structure leases, 6- to 12-month leases. So, if there’s a bit of a spurt on in capital growth, the yields percentage-wise appear a little bit low.
But again, not much stock on the market. Lots of online searches per listing, and we identified this one, 46 Stretton Parade, Everton Park. A big family house, 4-2-2.
Kevin:  4-2-2?
Shannon:  Four bedrooms, two bathrooms, two car parks.
Kevin:  Thank you. Just qualifying that. That’s in talk there, 4-2-2.
Madeleine Hicks from Madeleine Hicks Real Estate is the listing agent. She’s on the line.
G’day, Madeleine. How are you?
Madeleine:  Great, Kevin. Good morning.
Kevin:  Madeleine, just a little bit about this property. Tell me, how long has it been on the market?
Madeleine:  We’ve been on the market just over two weeks. We’re going into our third week now, and we’ve had a lot of interest in the property. As Shannon said, Everton Park is an area that continually keeps growing in high-end demand.
Kevin:  And what’s the listed price on this one, Madeleine?
Madeleine:  We’re looking for offers over $649,000. It’s quite difficult finding a four-bedder in Everton Park, a genuine four-bedder where you have the four bedrooms upstairs, and that’s what this home offers. It has the four bedrooms upstairs, the living area, and then downstairs you have utility/rumpus and then a utility/fifth bedroom if you wanted or a study down there. So, it’s a big, massive family home.
Kevin:  What sort of buyers are attracted to this, Madeleine? What are you hearing?
Madeleine:  The buyers that have come through have been mainly families. Again, we have a huge owner-occupier. We have had a couple of buyer’s agents come through – people similar to Shannon who have recommended the property to their clients. But the majority are families.
We have very good schools in the area, and we also have very good transport in Everton Park because we’re serviced not only by the bus but we’re serviced by two train stations because we’re on the cusp of Enoggera and Mitchelton. So, we have two very good train stations that service it.
Kevin:  Are you opening this one today, Madeleine?
Madeleine:  Yes, I am. I’ll be there at 10:30 today.
Kevin:  Only an hour and a bit away. If you want to talk to Madeleine about this, it’s 0413 733 617. Madeleine Hicks from Madeleine Hicks Real Estate.
Appreciate you squeezing us in to a very busy day, Madeleine. Thanks for your time.
Madeleine:  Thank you, Kevin. Have a great day.
Shannon:  Thanks, Madeleine.
Kevin:  As Madeleine identified there, buyer’s agents crawling over this one because it’s one of the reasons, I guess, why you’ve identified it, and that is that it’s classic of the sorts of properties that investors are looking at because of a high volume of families in the area, low volume of renters. So, therefore, it’s a good area.
Shannon:  Yes, and something special there with that genuine four-bedroom house. A lot of Everton Park houses at the time are three-bedroom, and we’ve seen some garage conversions and things like that going on. But, yes, a genuine four-bedroom is a big house.
Kevin:  Genuine four-bedroom and very close to the city, too. Good transport, good schools, so good reasons why you want to have a look at that one.
Just recapping, we’re looking there at Everton Park, one of the key suburbs in Brisbane. 46 Stretton Parade, Everton Park is the property that we’ve identified there.
Any other stats that we should be looking at? I notice one of the things that you do look at is the stock on market. What have you found about Everton Park? It would appear that stock is pretty tight in that area.
Shannon:  Yes, it is going very quickly. It’s 35 days on market, and the stock levels have a lot to do with that. But also, we’ve seen Everton Park really come into itself as part of the shopping destination. There’s a big Woolworths and the JB Hi-Fi and the stuff that have gone into that area as well. It’s really opened up its amenity, and I think we’re seeing that it’s come into favor.
It’s really well-located, as Madeleine said. You can walk to two train stations and it has a great bus network as well. So, it’s what owner-occupiers want, and when we have that, we have the prices going up.
Kevin:  We’re going to come back after the break, and we’ll have a look at the final suburb we want to talk about. And then after that, we’ll give you a bit of a wrap on the Brisbane market, the South East Queensland market, where we see it headed.

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