How to get the best house on any street

first_imgGreville Pabst WBP group chief executive supplied image November 2018Ray White Carina principal Andrew McSweeney said the three elements could provide the perfect recipe for most buyers which, in turn, increases the levels of competition and therefore contract values. “Camp Hill and Carina locations (for example) are very popular for families due to the amazing schooling opportunities on offer, making the specific suburbs a high priority when considering a purchase,” Mr McSweeney said. “Wide streets wrapped by parks and green belts engulf these suburbs and specific streets that are elevated and capture a beautiful city or suburban vista are a massive plus. “Further to the streets, the position of the property on the block, on the high or low side of the street, or a commanding corner block, can also increase buyers’ interest levels.’’ Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy location is everything in real estate01:59Location, location, location is probably the most well-known phrase in real estate.And as the experts explain, finding a well-positioned property is vital not just for lifestyle, but for long-term value too.Greville Pabst, the chief executive of property valuations and advisory firm, WBP Group, said the phrase could be broken down into three levels – the suburb, the street and the position of the property itself – and each was equally important.“Just because you’ve got the first location right doesn’t mean you’ve made it,” Mr Pabst said. This house at 70 Brisbane Avenue Camp Hill is on the marketRay White West End principal Luke O’Kelly agrees, saying location was key to a property’s value. But he warned it was not as simple as buying in a sought-after suburb.“If the property is on a main road, backs on to a train line or has construction work adjacent, these may negatively affect the properties value and capital growth,” Mr O’Kelly said. “On the flip side, if the property is in a suburb that is not classed as ‘blue chip’ but it has great access to transport, is located next to a park or has amazing views, these all contribute in a positive way on sale day. “Particularly in suburbs that are adjacent to blue-chip suburbs (that can) leverage off their neighbours’ reputation.”More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoLocation on a street can also play a major part in considering a property’s valueBut he said most things were negotiable.“Quite often the location is more important than the actual position as many buyers are buying for school catchments,” Mr O’Kelly said. “In our local area, parts of Highgate Hill are in the Brisbane State High catchment and others streets are not. “This catchment map can play a significant role in what a buyer is willing to pay.”Cohen Handler buyers’ agent Jacob Butler said there were “good and bad parts of most suburbs”, even in the sought-after blue-chip suburbs. He said the same could apply in a single street.“When buyers are looking at comparable sales to try to determine the value of a home, it’s important to understand the difference between the properties,” he said. center_img Two houses in the same street and in the same suburb can have vastly different values. Picture: THINKSTOCKMr Butler said considerations included whether a property had views, was on a sloping block, could be flood-affected, the zoning, school catchments and location on the street.“Just because the property next door is a similar home and sold for X, does not mean that it is worth the same,” he said. “As an example there are a handful of streets in Hawthorne which are inside the highly sought-after Bulimba State School catchment, however only some houses in a few of those streets are inside the catchment, which means that there could be a premium for one house, and not the other. “A street like Wentworth Parade in Balmoral can also have polar pricing in that one side of the street has city views yet the other doesn’t have an outlook at all. “This can mean that there is a million dollar difference for the same style house on a similar sized block just across the street.”last_img read more