{"id":14068,"date":"2017-09-27T01:00:09","date_gmt":"2017-09-26T15:00:09","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=14068"},"modified":"2017-09-27T01:00:09","modified_gmt":"2017-09-26T15:00:09","slug":"brisbane-suburb-with-30-3-yr-growth-shannon-davis-vish-uttam","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/brisbane-suburb-with-30-3-yr-growth-shannon-davis-vish-uttam\/","title":{"rendered":"Brisbane suburb with 30% \u2013 3 yr growth \u2013 Shannon Davis + Vish Uttam"},"content":{"rendered":"

This time we come even closer to the city as we look for more Brisbane suburbs that are worth considering if you are looking for an investment property.\u00a0 This time Shannon Davis<\/strong> talks about Holland Park which is an older suburb made of largely post-World War II wooden homes.\u00a0\u00a0 Holland Park has a median price of $730,000 and we tell you about a property that has development potential.
\nTranscripts:<\/strong>
\nKevin:<\/strong>\u00a0 For the final area that we\u2019re going to go, we\u2019re also going to take you to a property with bit of a twist. Quite interesting this one. It\u2019s on 900 square meters. We\u2019ll tell you more about it in just a moment because it\u2019s situated in Holland Park, and we\u2019re looking at identifying the properties around Brisbane, South East Queensland, that we believe are well worth having a look at, and we\u2019re telling you the reasons why.
\nOur guest in studio is Shannon Davis from Metropole Properties. That\u2019s what they\u2019ve done, they\u2019ve been through and identified these areas.
\nThe next one you\u2019ve chosen is Holland Park. Tell me a little bit about that Shannon.
\nShannon:<\/strong>\u00a0 Holland Park has really had a boom the last three years. South side we\u2019re flicking over to again, Kevin. It\u2019s had about 30.5% growth in that three-year period, which is, for Brisbane standards, really strong.
\nKevin:\u00a0\u00a0<\/strong>That\u2019s very good. What\u2019s behind that? Why is that mate?
\nShannon:<\/strong>\u00a0 I think there are lots of houses that appeal to young professional families with children, as well. So, a professional couple with young children, good schools, good transport, and houses that you can put a bit of a touch on to with a slightly bigger block, as well.
\nKevin:\u00a0\u00a0<\/strong>This particular area has the highest median of all the ones we\u2019ve been looking at. We have a median here of $730,000.
\nShannon:<\/strong>\u00a0 That has just shot up remarkably in the last couple of years.
\nKevin:\u00a0\u00a0<\/strong>When you get growth of around 30%, that\u2019s a pretty good indicator.
\nWhat about stock on market?
\nShannon:<\/strong>\u00a0 Stock on market is quite tight. We\u2019re looking at about 35 days on market. Again, high owner-occupier percentage. The vendors are only taking a 2.6% discount.
\nKevin:\u00a0\u00a0<\/strong>That\u2019s low.
\nShannon:<\/strong>\u00a0 Very tight vacancy in that area.
\nWhat I found here Kevin, was as rare as hen\u2019s teeth. It\u2019s a double block. There\u2019s only being one listed on the market, but there\u2019s also the next door neighboring that has the same owner\u2019s interest, and they\u2019re prepared to sell both.
\nI just like the options on this property. We can build a nice house\u2026
\nKevin:\u00a0\u00a0<\/strong>Can I just double track? You said the property next door is available as well?
\nShannon:<\/strong>\u00a0 That\u2019s right. 51 and 53 Latimer Street, Holland Park.
\nWe can just build two contemporary houses on those two blocks. We could perhaps squeeze three in and have a smaller house with another subdivision, or there\u2019s a DA approval for nine units on this one.
\nI just thought it\u2019s got a lot of options here. Land is a great option in somewhere like Holland Park, and land banking as a strategy works well. And it\u2019s just taken a nice price drop, too.
\nKevin:\u00a0\u00a0<\/strong>We\u2019ll talk about that. The agent is on the line, Vish Uttam. Vish is from Experience Real Estate.
\nG\u2019day, Vish. How are you doing?
\nVish:<\/strong>\u00a0 Good morning gentleman. How are you going?
\nKevin:\u00a0\u00a0<\/strong>Yeah, good. I have to use this line. This was on our Vish list, Vish.
\nVish:<\/strong>\u00a0 It\u2019s been a while, Kevin.
\nKevin:\u00a0\u00a0<\/strong>Yes, it\u2019s been a long time, mate. Vish has been on our show before. We talked about his Vish list.
\nTell me a little bit about this property that Shannon has identified.
\nVish:<\/strong>\u00a0 Very lucky to have it landed on my lap. Basically, there were two houses previously there on the block, and it was going to be a little bit of a development project. Now, what happened is they demolished both houses and for whatever reason, they can\u2019t go ahead and build, so they decided to put it on the market.
\nInitially, basically, one block of land, 53 Latimer Street, which was 460 square meters, but we also have access to 51 Latimer Street as well, interested party.
\nKevin:\u00a0\u00a0<\/strong>Is that the same land size?
\nVish:<\/strong>\u00a0 15 square meters bigger. So, one is 460, one is 475.
\nKevin:\u00a0\u00a0<\/strong>\u00a0All right. So, we\u2019re a touch over 900 square meters here. Shannon touched on the fact that you could build a couple of contemporaries there, or three smaller houses maybe, or even up to nine units. What\u2019s a unit site worth nowadays?
\nVish:<\/strong>\u00a0 Well, in Holland Park, it varies. It really depends on the quality of the build, but the valuers we got in place to do appraisals for that, for the nine units, comprised one three-bedroom, one one-bedroom and seven two-bedrooms, and they range from anywhere between $450,000 to about $600,000.
\nKevin:\u00a0\u00a0<\/strong>Okay. And what\u2019s the asking price on this land?
\nVish:<\/strong>\u00a0 You have a couple of options here. The smaller block of land has had a price drop and now it\u2019s at $599,000. That\u2019s 53 Latimer Street. 51 Latimer Street is at $620,000. Or you can buy the whole block and we\u2019ve listed it at $1.2 million.
\nKevin:\u00a0\u00a0<\/strong>All right. And level of interest in this? I\u2019d imagine there would be a lot of people crawling over this one, Vish?
\nVish:<\/strong>\u00a0 Yes, absolutely. We\u2019ve had it on the market for about two and a half weeks, but the first week and half, it was actually a little bit higher than this price. It actually started on the market at $1.3 million, and the blocks of land were listed at around $680,000 and $660,000.
\nShannon:<\/strong>\u00a0 So, we\u2019re starting to get down to the real price now, hey, Vish?
\nVish:<\/strong>\u00a0 Absolutely. It\u2019s been interesting. We have been getting a lot of phone calls from a variety of people. We have had developers give us a call, we have had mom and dads give us a call, and young couples who want to build their first homes. So, it\u2019s been really interesting, and a varied market. But yes, I feel we are getting very, very close.
\nKevin:\u00a0\u00a0<\/strong>Vish, just give us your mobile number before we leave, just so people can give you a call.
\nVish:<\/strong>\u00a0 Absolutely. 0409 891 339.
\nKevin:\u00a0\u00a0<\/strong>Thanks, mate. Good on you, Vish. Vish Uttam, and Vish is from Experience Real Estate. Thanks for your time mate.
\nVish:<\/strong>\u00a0 Thanks for having me.
\nShannon:<\/strong>\u00a0 See you, mate.
\nKevin:\u00a0\u00a0<\/strong>Easy to see why that one is our final one. We\u2019re going to come back after a very short break, and we are going to give you a wrap on the properties we\u2019ve looked at and also the property market in Brisbane.<\/p>\n","protected":false},"excerpt":{"rendered":"

This time we come even closer to the city as we look for more Brisbane suburbs that are worth considering if you are looking for an investment property.\u00a0 This time Shannon Davis talks about Holland Park which is an older suburb made of largely post-World…<\/p>\n","protected":false},"author":176692471,"featured_media":14071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,10,11,13,36,22,25],"tags":[101],"class_list":["post-14068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"\nBrisbane suburb with 30% \u2013 3 yr growth \u2013 Shannon Davis + Vish Uttam - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/brisbane-suburb-with-30-3-yr-growth-shannon-davis-vish-uttam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brisbane suburb with 30% \u2013 3 yr growth \u2013 Shannon Davis + Vish Uttam - 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