Emerald

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<p><span>Most towns on the Central Highlands of Queensland appear to be going back to normal trade apart from Moranbah which continued to strengthen throughout COVID-19, according to the last Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"We have seen a pick up in activity over the past two weeks in both sales and rentals," the valuation firm said </span></p>
<p><span>The report suggests renovations is a good thing for most towns on the Central Highlands with costs able to be recovered in most situations.</span></p>
<p><span>"We are seeing most mortgagee homes and lower end properties being purchased and shortly after being renovated.</span></p>
<p><span>"With a rising market we see renovators cashing in on true added value to their properties. Builders are probably evenly split currently between new homes and renovations in the area.</span></p>
<p><span>"We have now had four years of steady growth coming off a bottom in 2016, so there are many with equity to undertake improvements to their properties and we see this continuing," the valuation firm said. </span></p>
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<p><span>For example, a fully renovated Queenslander in Emerald was sold for $250,000 in April. </span></p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-emerald-132373638" target="_blank">25 Theresa Street</a> (pictured below).</p>
<p><span>It features open plan living and dining, covered verandas and above ground pool. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/emerald%20.jpg" alt=""></span></p>
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<p>A current listing is a four bedroom house in Emerald which has been renovated inside. </p>
<p>The family home at <a href="https://www.realestate.com.au/property-house-qld-emerald-133687746" target="_blank">7 Tineele Place</a> (pictured below) has been listed for $425,000.</p>
<p>It comes with gourmet kitchen, large dining and family room, rumpus room and in ground pool.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/emerald%202.jpg" alt=""></p>
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Emerald sees continuing renovation works: HTW residential 

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<p>A mortgagee property in Queensland’s Emerald has come onto the market.</p>
<p>The two-bedroom, two-bathroom unit has been listed with a price guide of $159,000.</p>
<p>Located at 12/21 Rivergum Street, the unit is positioned in a quiet complex in a modern estate.</p>
<p><span>Its offerings include a large modern kitchen, outdoor entertaining and private courtyard.</span></p>
<p><img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-17%20at%203.09.26%20pm.png" alt=""></p>
<p><span>The home last traded in 2013 for $332,500.</span></p>
<p><span>The median unit price for Emerald is $161,100, according to CoreLogic data.</span></p>
<p><span>Emerald Real Estate’s Jason Campbell holds the listing.</span></p>
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Emerald mortgagee unit listed with $159,000 price guide

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<p>The Emerald residential market currently is considered a buyer’s market, with the best purchasing conditions seen in over a decade, according to Herron Todd White’s (HTW) latest monthly market report.</p>
<p>The property advisory firm says that all price sectors are active.</p>
<p>Agents are reporting a constant flow of new rentals and selling periods for properties appear to have shortened.</p>
<p>Mortgagee in possession sales in Emerald still appear to be minimal.</p>
<p>"Many first home buyers are active and job vacancies remain steady as the worst appears to be behind us," the HTW report said.</p>
<p>The $220,000 to $350,000 market appears to be holding now as new home buyers can buy a good quality, modern home in this range depending on the area of town they choose to live.</p>
<p>One example would be a four bedroom home at <a href="https://www.realestate.com.au/property-house-qld-emerald-123751678" target="_blank">3 Edgewood Drive</a> (pictured above) that is for sale for $300,000.</p>
<p>Most investors are still local with a few multi-unit properties starting to move.</p>
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Gloom lifts in Emerald with residential market in best condition in a decade: HTW

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<p>History-making yachtsman Jesse Martin has his Dandenong Ranges family home listed for December 9 auction.</p>
<p>Martin, who became the youngest person to circumnavigate the globe solo in 1999, expects $1.2 million to $1.32 million for the Emerald home.</p>
<p>The modern main residence incorporates the site’s original two bedroom 1800s cottage on the rather secluded block.</p>
<p>The five bedroom Emerald retreat at <a href="https://www.realestate.com.au/property-house-vic-emerald-126999874" target="_blank">16 Torley Road</a> has been listed with Fletchers agents David McKay and Suzie Brannelly. </p>
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<p>The estate agent or agent’s representative reasonably believes that fewer than three comparable properties were sold within two kilometres of the property for sale in the last six months. </p>
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<p>The 4024 square metre property was bought with his brother about 12 years ago, by Martin who was now based in New York where he spends his time writing, travelling, speaking and producing film projects.</p>
<p>Martin’s voyage between December 1998 and October 1999 took 328 days and covered 27,000 nautical miles (50,000 kilimetres). </p>
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Yachtsman Jesse Martin lists Emerald home

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<p>The Emerald property market is still trending upwards, but buyers do appear to be showing caution, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes that sale volumes are below previous expectation, while the bottom end of the market has lifted to around $200,000 for houses.</p>
<p>"For the right product, we have seen values come back to within around 10% to 15% of the peak experienced in 2011 and 2012," the valuation firm said. </p>
<p>The space to watch currently is vacant land sales with the top end reaching new highs in recent times, it said. </p>
<p>"The wow factor this year to date has been the top end and two sales over the $1 million mark," the valuation firm commented. </p>
<p>One of the sales is a resale from $890,000 only six months prior.</p>
<p>This same property sold at the bottom of the market for $635,000.</p>
<p>"So you can see that for the right product - modern, good location, good ancillary improvements, multiple buyers - values are pushing up," the valuation firm said. </p>
<p>A five bedroom house in the Selma Rise estate has recently been sold for $495,000.</p>
<p>The family home at <a href="https://www.realestate.com.au/sold/property-house-qld-emerald-130926530" target="_blank">22 Haswell Street</a> (pictured above) comprises five bedrooms, kitchen with extensive storage, open plan living and dining areas, theatre room, rumpus room and in-ground pool.</p>
<p>It's within walking distance to the Marist college. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/2/emerald%201.jpg" alt=""></p>
<p>A current listing is a five bedroom home located 100 metres to Marist College priced at $829,000.</p>
<p>Nestled on a 900 square metre allotment, the house at <a href="https://www.realestate.com.au/property-house-qld-emerald-107329207https://www.realestate.com.au/property-house-qld-emerald-107329207" target="_blank">47 Jeppesen Drive</a> (pictured above) comes with five bedrooms, three separate living areas, children's retreat, separate dining, kitchen with European appliances and in-ground pool.</p>
<p>Other features include nine foot ceilings, solar system, ducted reverse air conditioner system and double lock up garage. </p>
<p>"The market appears slow to steady across the region at present with no increase in sales volumes which is typical before an election and end of a financial year," the report said. </p>
<p>"If some of the new proposed coal mines in the area start physical construction or production then we will surely see demand higher than supply." </p>
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Top end of Emerald market hitting new highs: HTW residential 

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<p>An Emerald, Queensland mortgagee home has been sold for $230,000.</p>
<p>The house last sold for $405,000 in 2012.</p>
<p>Jason Campbell of Emerald Real Estate marketed the listing.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-emerald-130506626" target="_blank">3 Buchholz Place</a>, the abode is host to three bedrooms and two bathrooms.</p>
<p>Set on 842 square metres, the property was built in 1997.</p>
<p>The house features an inground swimming pool constructed in 2009 through a DA valued at $30,500.</p>
<p>The home was last listed as a rental in 2016 seeking $260 per week, notably lower than the 2014 rental price of $360 per week.</p>
<p>It was originally listed for $320,000 in February 2019 but was reduced to $260,000 over the course of the 250 day campaign.</p>
<p><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a></p>
<p>The median sale price for an apartment in <a href="https://www.urban.com.au/news/5488-emerald-qld" target="_blank">Emerald, Queensland</a> is $311,000, according to the latest CoreLogic data.</p>
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Emerald, Queensland mortgagee home sold for $175,000 loss

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<p>While Emerald is still bouncing off the bottom and in a slow rising mode, there is little eye candy around unless the property ticks all the boxes and has multiple buyers looking, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The report notes a big sale for Emerald is over the $1 million mark.</p>
<p>"This year we have seen two properties sell in this top range with the first being <a href="https://www.realestate.com.au/sold/property-house-qld-emerald-107106154" target="_blank">8 Campbell Ford Drive</a> (pictured below), situated on 4,061 square metres with nine bedrooms, five bathrooms, a four-car garage, over 750 square metres under roof, a 19 metre pool and a 400 square metre shed," the valuation firm said. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/emerald%20.jpg" alt=""></p>
<p>This is a one of a kind for Emerald, hence the price tag of over $1.1 million.</p>
<p>The second home selling at just over $1 million was at 22 Slack Drive.</p>
<p><img src="https://www.urban.com.au/images/2019/11/25/emerald%20.jpeg" alt=""></p>
<p>The property is 1.03 hectares of river frontage with manicured landscaping, an outdoor area, four bedrooms, two bathrooms, about 480 square metres under roof, a 300 square metre shed and an inground pool.</p>
<p>"Both of these properties lacked nothing for quality accommodation in Emerald," the valuation firm said. </p>
<p>Rents top out at $450 to $500 per week with six listings currently. Rents have seen the highest growth in 2019 and this should start driving house prices upward.</p>
<p>"There are currently four genuine listings of residential properties in Emerald over $850,000. Each is unique with architect designed homes, pools, granny flats, large sheds, acreage, extra- large homes and high quality accommodation," the valuation firm noted. </p>
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Emerald sees two $1 million plus sales in 2019: HTW residential 

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<p><span>Gross yields on houses in Emerald range from 5% to 7%, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at rental yields across the nation. </span></p>
<p><span>"We see this yield for most market segments from $250,000 to $450,000.</span></p>
<p><span>"We have seen rents continue to rise across the Central Highlands towns of Emerald, Moranbah and Blackwater over the past two years. </span>Some areas are now looking attractive," the valuation firm said. </p>
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<p><span>For multi-unit flats, the gross yields on sales have shown 7% to 10% regardless of the price point.</span></p>
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<p><span>The report suggests rents are firming and tightening again as there appears to be another kick in the market currently happening.</span></p>
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<p><span>In Moranbah the gross yield is moving higher to where some houses are seeing near 10%. </span></p>
<p><span>"It’s not uncommon to see a modern four-bedroom home renting at $600 to $650 per week and valued at $350,000. </span></p>
<p><span>"Some of the older two-storey homes that might have dual accommodation (upper and lower level) and a total of seven to eight bedrooms (set up for single occupant accommodation) are hitting the gross yield of 10% on a sale price of $350,000," the valuation firm stated.</span></p>
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Rents continue to rise in Emerald: HTW residential 

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<p>The high end of the residential market in Emerald has performed the strongest, according to the November report from Herron Todd White.</p>
<p>These properties are generally large, good quality homes that come with extensive ancillary improvements.</p>
<p>Demand has been slightly higher than supply so the past 12 months has seen a firming in value.</p>
<p>Leading the way at $1.15 million is a rural residential property on 11.2 hectares with a 2012 four-bedroom, two-bathroom home and living area of 282 square metres, outdoor area of 113 square metres, car parking area of 88 square metres and a 360 square metre detached shed.</p>
<p>The property is a clear timber home with high quality fitting and features.</p>
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