Saturday, 6 July 2019
Developer Pam Ellis has been rebuilding Parramatta street one house at a time - earlier this year she completed another one-off home only a few doors down.
"Young families are moving into the suburb to take advantage of character homes so close to the CBD and all amenities on The Strand," Ms Ellis said.
Combining a practical location with international influence, the four bedroom home boasts luxury cathedral ceilings and a master suite with its own Parisian-style balcony.
"I chose a modern Hamptons theme because I wanted Parramatta House to be complementary to the high-end surrounding Queenslanders in the street, while being a knockout in her own design," Ms Ellis said.
"The design pulls from a lot of international influence with the American-style barn door and Parisian balconies upstairs.
"But the structure of the home is built to suit the North Queensland climate."
The house is ideal for families being located within the Belgian Gardens school catchment.
"I designed Parramatta House to be filled with kids, love, and laughter, while also ensuring plentiful breakout spaces to suit the whole family," she said. "The large multi-zoned entertaining space downstairs has a seamless flow between indoors and out."
The home is set to be complete in less than six months and is on the market for $779,000. Ellis Developments sales co-ordinator Tammy Baczynski said she expected the property soon would be snatched up.
"We had two families competing for the last Hamptons-style home on this street, even before starting construction on it," Ms Baczynski said.
"This property won't stay on the market long."
Friday, 7 June 2019
THE Reserve Bank of Australia’s highly anticipated announcement of a historic rate cut has the Townsville property market buzzing, with first home buyers gearing up to pounce, and investors expected to get back into the local market.
The cash rate which was cut by 25 basis points to 1.25 per cent has not been this low since it was first regulated in 1990.
Sales co-ordinator at Ellis Developments Meredith Sweeney, said the recent election and policy changes has stirred up the market.
“75 per cent of our clients are first time buyers and our pipeline is approximately double of what it normally is,” Ms Sweeney said.
“The confidence from the election combined with these positive government programs have our phones and emails going off.”
Phillip Lincoln who is planning to buy his first home with his wife at Haven in Townsville, said the cut will help with the process of securing finance.
“This cut is definitely going to make financing it easier for us,” Mr Lincoln said.
“Buying has been something we’ve been wanting to do for along time but it just felt unachievable, and I think it is for a lot of people.”
REIQ Townsville Zone Chairman Wayne Nicholson said the cut is also a great incentive for investors to get back into the market.
“It will allow anyone thinking about getting into the market a great opportunity to do that,” Mr Nicholson said.
“It’s great for first time buyers, and hopefully it will bring investors into play with prices down, interest rates low, and rents at a reasonable price.”
Principal at keyes & Co Real Estate and Regional Director at REIQ Damien Keyes, said the cut is also likely to boost the higher end of the property market.
“It’s just another piece in the buyer confidence puzzle,” Mr Keyes said.
“The cut on interest rates is going to stimulate buyers, and this coming off the back of an election will be a huge catalyst in driving values up in the property market.”
“I think it might stir up some activity at the high end of the market as well, in cases were people have been thinking of upgrading - It will give them that push to do it.”
The cut does not only benefit new buyers, but it could help existing mortgage holders with a variable home loan if their lender decides to pass on savings from the rate cut.
Insights manager at finder Graham Cooke said the cut gives buyers a good opportunity to shop around for their ideal loan rate, but said it doesn’t mean the full cut will be applied to every loan.
“While many lenders may pass on a cut to their customers, you may not see the full 25 basis point cut applied to your loan,” Mr Cooke said.
“Keep an eye on your lender’s website and digital channels to see how they are responding to the rate cut and how this will affect your mortgage. If you’re not satisfied, don’t settle — this environment makes it a great time to go home loan shopping.”
He said the easing of monetary policy is expected to continue throughout the year with experts predicting an additional one or two cuts.
“This is uncharted territory for us and if two more rate cuts are enforced this year, we could potentially see a rate of 0.75 per cent which is unheard of in Australia.”
“With interest rates dropping, and loans becoming both cheaper and easier to attain, this could very well be the turning point for the slumping housing market.”
Wednesday, 20 March 2019
Buyers Active Despite Floods
16 March 2019
Despite the devastating events of the 2019 Townsville floods, many Townsville locals are keeping calm and carrying on even when it comes to real estate.
With the decrease in quality rental availability, especially near the CBD, many landlords have increased prices on their rental properties. Townsville renters, reacting to that price increase, have begun to really see the benefit of buying.
“I had a client who was looking at renting an old 3 bedroom for $450 per week. He realised what he could buy if he put that towards his own mortgage payment and changed his whole game plan.” -Tammy Baczynski, Haven Townsville
Increased rental prices, along with the $15,000 First Time Buyers’ Grant and offers from land estates and builders, have been the tipping point for many renters to make moves to owning a new home.
This new generation of buyers are more flood aware. Just three months ago, the question for most buyers was price, size, or what the neighbours were like. However, post-February 2019 floods, the first question buyers are asking is “Did it flood?” Haven resident, Lou Searle, said the floods were a real eye-opener but also put the proof in the pudding when it came to their investment.
“We have been renting in Haven Townsville for the last 12 months to get a feel for the area and the estate itself. During the recent floods we were very nervous wondering, ‘Will this water get higher? Will we be cut off? Where is that creek going to go?’ We need not have worried. Mundy Creek swelled and drained quickly, the Haven storm water drains have been engineered to drain not only from gutters but into the middle of the road away from houses.”
Lou and her fiancé Chris have been testing out a rental in Haven for over a year now and have just started construction on their brand new home.
“We love it. We bought a block and are commencing our build. While it is prudent ‘never to say never,’ we are confident that our investment in Haven will remain a positive move and recommend Ellis Developments as an operator who doesn’t take short cuts and builds quality into everything they do.” - Lou Searle
“Many of our clients were very nervous during the flooding, but were very happy to see their blocks remained unflooded throughout. It gave them a lot of peace of mind to see our estate high and dry.” -Stephen Ellis
That confidence has been positive for the new build market. “There has been a new house starting construction practically every week since the flooding with two more sold this week.” -Tammy Baczynski, Haven New Home Consultant
Even closer to the flood affected areas, soon to be residents too were relieved to see their blocks unsubmerged. While some of the earlier stage homes of The Village experienced water damage, all of the current land stock has been built up to Q100 and remained dry during the flooding. Local builder, Ellis Developments commenced construction on two homes at The Village just 2 weeks after the flooding subsided.
Ellis Developments Website: www.ellisdevelopments.com.au
Haven Townsville Website: www.haventownsville.com.au