2011/122011/122011/12

Movements in Toowong Movements in Toowong Movements in Toowong

ReportReportReport

Prepared by:Prepared by:Prepared by:

Brett AndreassenBrett AndreassenBrett Andreassen

0421 723 7130421 723 7130421 723 713

brett@disher.com.aubrett@disher.com.aubrett@disher.com.au

www.disher.com.auwww.disher.com.auwww.disher.com.au

River Road, (Coronation Dve) Toowong c. 1910.

Welcome to the Movements in Toowong Report. We hope you enjoy the

information contained within and gain an insight into the great place that

Toowong is to live!

Contents

- Who is Brett Andreassen?

- Comment on the market climate

Houses

- Toowong Market Statistics: 3 Year Comparisons

- Toowong Market Statistics: 2011 to date

- Residential Sales for 2011 - 2012

Apartments

- Toowong Market Statistics: 3 Year Comparisons

- Toowong Market Statistics: 2011 to date

- Residential Sales for 2011 - 2012

- Toowong’s Past and Present

I would like to thank my clients who assisted me in the information to put

this report together.

Brett AndreassenBrett AndreassenBrett Andreassen

0421 723 7130421 723 7130421 723 713

brett@disher.com.aubrett@disher.com.aubrett@disher.com.au

Brett Andreassen - 2012 REIQ Salesperson of the Year - Finalist

Achieving outstanding results is something that comes naturally to Brett Andreassen. He is committed to the

best possible result, every time.

Brett’s process-driven approach to selling has seen him establish a presence in the Inner Western suburbs,

with clients consistently willing to engage Brett’s services, knowing that the sale will be handled with the

highest professional service and attentiveness.

Consistently monitored by other companies, Brett is always refining the sales process to give his clients the

maximum opportunity at achieving the greatest price for their property, proven through the tremendous

success of his “Special Preview Showings” and “Doug Disher Real Estate Quarterly Report”.

From beginning to end and beyond, Brett understands the process of the real estate transaction, focusing on

both the now and tomorrow, so that all clients, past – present – and future, are fully informed of the market

and what to expect, from Brett’s comprehensive market knowledge.

Brett is one of the few agents in Queensland asked to be interviewed on the international real estate audio

program, Hot Topics.

Brett’s results, experience and dedication to his clients, shows that it is no wonder more people trust him to

sell their home.

“There is no shortcut to a great price, we have a process to extract the premium price in the marketplace at all times”

Thank you so much for keeping a cool head when everything seemed to be crashing around our

ears! When we first sat down with you, you gave us a clear, concise plan to get the property sold. In

three weeks, we had a contract that looked smooth. But of course, things went awry. An average

building and pest inspection unearthed some problems and an 'over-enthusiastic' solicitor didn't

help matters. But some cool negotiating by you kept everything together and thankfully we saw un-

conditional. Thank you so much for giving the right advice and seeing the larger picture.

Don MacLean—Market St

A small sample of testimonials

Our property had been on the market for over 4 months with a big name company in Paddington,

without a single offer. We thought that going with a large company would give us more exposure

and get the property sold faster. We found out that this wasn't the case and didn't hear from them

for two weeks! We sought Brett out as he had sold a couple of properties like ours while we were

languishing on the market. Within 2 weeks Brett has secured a buyer, negotiated a good price in

the current market and showed us why dealing with a specialist was well worth the investment.

Thank you for saving us Brett!

Vicki West—Bayliss St

Selling a property is always a stressful time, but when you are in NZ, trying to selling a tenanted

house, you want to make sure that you have an agent that is more than capable. We selected Brett

as our chosen agent after considering going with our managing agent. Although we felt they were

capable of doing the job, we believed Brett had the right strategy to maximize price. And he defi-

nitely proved us right! Communication was a big part of the sale, and we were never left wondering

what was happening, as he let us know via SMS, email and calls. Thank you so much for helping us

out in a very stressful time.

Meagan & Ian Roberts—Camp St

Comment on the Market Climate

The last 12 months can be described simply as a continuation of the 12 months

prior to that. We have not seen the rebound in prices that many people have

been hoping for, and the overall number of sales has dropped in most suburbs.

Many people would deem this to be a buyers market, however, I must disagree.

The drop in the number of sales has been counteracted by the drop in the

average amount of properties on the market throughout the year, as sellers who

were thinking about moving put their plans off or chose to renovate instead of

upgrading. The amount of forced sales, in our area, are lower than what other

areas are experiencing.

External factors are having an impact on the real estate market, particularly

confidence. The start of each month is spent by people commentating on rates,

and will the banks pass on the full amount. In a strange way, we find that when

rates drop, people hold off from making purchasing decisions, but when they

increase, buyers move faster to secure a property.

The change in government at the state level has brought some welcome relief for

the property industry, with the rollback of the unsustainable sustainability

declarations and the reintroduction of the stamp duty concession on the

principle place of residence. This should see some confidence instilled in the

upgrading market, as the savings may push people to take advantage of the

concessions.

Moving forward over the next 12 months, I believe it will be a continuation of the

last 2 years. Until confidence returns to the market, we won't see the massive

increase in prices that we were used to over the last decade. Getting the

marketing and pricing right is critical to not only getting the property sold, but

ensuring you don't undersell the home.

The Inner West is not bulletproof, but when comparing the market we are in to

others in Queensland, we are in a good place. The basic infrastructure is always

going to be there, and the rental market underpinned by the university and our

proximity to the CBD, we know this is one of the best places to live or invest

across Australia.

Brett Andreassen

June 2012

Toowong Market Comparison: 3 Years

How many houses have sold in Toowong ?

How many houses are for sale in Toowong today?

What was the highest house sale price in

Toowong ?

What was the lowest house sale price in Toowong?

What was the average sale price in Toowong?

Which street has had the most sales in Toowong?

What was the average weekly rental amount

for houses in Toowong?

*Figures correct as of the 1st June 2012.

2009/10 86

2010/11 58

2011/12 45

At 1st July 11 38

As of 1st June 35

2009/10 $1,650,000

2010/11 $2,200,000

2011/12 $2,875,000

2009/10 $480,000

2010/11 $430,000

2011/12 $390,000

2009/10 $786,958

2010/11 $815,518

2011/12 $749,824

2009/10 Morley St

2010/11 Broseley Rd

2011/12 Elizabeth St

2009/10 $475

2010/11 $495

2011/12 $480

Toowong Market Statistics - Houses

Did you know?

In a recent survey conducted by rebonline.com.au on buyers dislikes, it revealed

that

- 75% of buyers were greatly deterred by properties without a price or

guide.

- 72% of buyers would overlook a property if it didn’t have an address

- 68% of buyers would overlook a property if it was advertised as offers over.

Why would you miss out on most of your market by doing those things?

Movements in Auchenflower - Doug Disher Real Estate

Toowong Market Comparison: 3 Years

How many apartments have sold in Toowong ?

How many apartments are for sale in Toowong?

What was the highest apartment sale price in

Toowong ?

What was the lowest apartment sale price in

Toowong?

What was the average sale price in Toowong?

Which street has had the most sales in Toowong?

What was the average weekly rental amount

for apartments in Toowong?

*Figures correct as of the 1st June 2012. Figures include townhouses

2009/10 177

2010/11 121

2011/12 72

1st July 2011 91

As of 1st June 66

2009/10 $842,500

2010/11 $1,130,000

2011/12 $680,000

2009/10 $100,000

2010/11 $103,000

2011/12 $98,000

2009/10 $424,232

2010/11 $434,880

2011/12 $428,275

2009/10 Sylvan Rd

2010/11 Sylvan Rd

2011/12 Maryvale St

2009/10 $350

2010/11 $355

2011/12 $360

Toowong Market Statistics - Apartments

History of Toowong

In 1875 the Brisbane to Indooroopilly (and Ipswich) railway line was opened, with a station at

Toowong village. The Regatta Hotel was opened the same year, on River Road (Coronation Drive)

overlooking Toowong Reach. Settlement became brisker, the Anglicans relocating from the

wooden church (1866) in Curlew Street to the Stone Gothic revival edifice in High Street (1877)

and a Primitive Methodist church opening in 1876.

The Toowong district had a population of about 1000 people when an area of 4.5 sq miles (11.7

sq km) was proclaimed Toowong Shire in 1880. It included Torwood and Milton (south of

Boundary Road), Auchenflower and Toowong southwards to Toowong Creek. The western

boundary approximated the summit of Mount Coot-tha. Most of the residential subdivisions

were 32 perch blocks (approximating an area enclosed by 15 x 50 metres), and as the

subdivision pattern unfolded it was touched by early town planning and garden city ideals: the

shire's first chairman, Augustus Gregory, promoted the reservation of Mount Coot-tha as a park

and the council later spent money on landscaping River Road and the improvement of several

parks.

Toowong Shire was designated a town in 1903, consistent with its urbanisation, train and tram

services. From about 900 dwellings, the number grew to about 2500 by the early 1920s. In

1925 Toowong municipality was incorporated into the Greater Brisbane council.

Toowong had a pronounced non-Catholic demography, but in 1903 a parish school was

transferred to the convent in Grove Street. In 1930 a new brick church of St Ignatius Loyola was

built there, and in 1948 a new school was also erected. The site adjoined Brisbane Boys

College, transferred from Clayfield to Toowong in 1930. The convent, church and the boys'

college are listed on the Queensland heritage register.

Coronation Drive and the Regatta Hotel are both listed on the Australian Heritage Register.

What’s in a Name?

Augustus st - named to commemorate Sir Augustus Charles Gregory (1819-1905) first Mayor of

Toowong

Bayliss St - formerly Isaac St until 1938 extended only to Bowling Lane. Home allotments were

of 24 perch area, a larger minimum home allotment than the traditional 16 perch.

Cadell St - formerly John St until 1938. Then extended to Park Avenue and renamed.

Eldridge St - commemorates the life of Mr Ambrose Eldridge, a pioneer pharmaceutical chemist

of the Moreton Bay settlement. In 1854 built Milton House on the high ground above the

Brisbane River.

Land St - commemorates the family of William Land, listed in the 1901 Queensland Post Office

Directory as a butcher living in Sylvan Rd. his family has traded for a century.

Sylvan Rd - originally called cemetery road. The cemetery road station was a siding several

hundred meters from Toowong station. Funeral trains stopped here and were drawn by

horse-drawn hearses. The cemetery station closed in 1886 and the name was prmoptly changed

to Sylvan Rd.

Herding Sheep outside the Regatta Hotel circa 1910

Pattersons Sawmill on the site of Toowong Village circa 1915

View of Toowong Cemetary circa 1895

Toowong Reach of the River circa 1902

*All information contained in this report is gathered from sources we believe reliable.

We have no reason to doubt its accuracy, however, we cannot guarantee it.