MAY SPOTLIGHT

MAY SPOTLIGHT

Navigating the Property Market

Expert Strategies for Buyers and Sellers

Brad Shipway

PROPERTY SPECIALIST

HARCOURTS PINNACLE ASPLEY

Meet Brad Shipway, a distinguished figure in the real estate landscape. With a robust engineering background and over a decade of experience in the operational and sales sectors of the Oil and Gas industry, Brad brings a unique perspective to real estate. His transition to the property market was driven by a passion for real estate and a desire to help others achieve their dream lifestyle.

In this month’s real estate update, we’ll explore the dynamic Brisbane property market through Brad’s expert lens. We’ll examine emerging trends, key strategies for buyers and sellers and the distinctions of neighbourhood values. Brad will share insights on how the right approach to buying and selling can maximize investment potential and meet lifestyle aspirations. Join us as we navigate the complexities of the real estate market with a seasoned professional who is as knowledgeable as he is passionate about helping his clients find their perfect home.


Are there any particular suburbs or neighbourhoods that are experiencing heightened buyer interest or are considered prime locations for investment?

“I’m based on the North-Side, so I’m a little biased. I like Stafford for an undervalued suburb, it’s not on the train line – is has some major arterials nearby, but if you look at the next suburbs towards the city (Grange, Gordon Park, Alderley, Enoggera), you’re spending up to $400,000 more for a property in similar condition. Further North is Boondall, with a good mix of old (1960’s) and newer (1990’s) houses in around the $750,000 to $1 million mark. I liked Salisbury and Oxley on the South; they both follow the trainline so public transport is great and I think is a maybe still a little undervalued due to the low lying areas not too far away.”


How are sellers adapting their marketing strategies to attract buyers in the current market and what are some effective methods for maximizing property exposure and achieving optimal sale prices?

“I’m all for effective and efficient marketing strategies, I’m always looking to make my owners properties as famous as possible. Unfortunately, a lot of agents are stuck in the old way of marketing – put it on the big portals and wait for the buyer to search in the specific suburb. Buyers have too many filters and they will miss a suburb or property by filtering it out. For instance, a buyer might want a 4-bedroom house to use one bedroom as a study, when realistically, they only need 3 bedrooms and a multi-purpose room built under a high-set house – if they’re filtering out the attributes (4+ beds), they’ll likely miss the perfect house.There has definitely been a bigger shift to video marketing and vertical video reels in recent years, however much of the videos being produced are centred around the agent (Hi I’m Bob, welcome to 123 Smith St) and not just showing the property and its features. Videos need to have a goal or an agenda, what is the purpose of the video and how are you planning on using it in the marketing campaign – is it to show the hidden features, to make someone fall in love with the beautiful property or make someone fall in love with the opportunity that property provides – i.e, renovating, location, etc. Too often I’m seeing videos used for properties with less than 100 views online most of which is the agent admiring themselves – what a waste of a video.”


What role do pre-purchase inspections and property valuations play in the buying process and how can buyers ensure they are making informed decisions?

“Pre-purchase inspections are there to find any possible issues that aren’t visible to the naked eye or the untrained eye. You can walk into a 7-year-old house that has more issues than a 60-year-old house, but if you don’t know what you’re looking for, finding a major issue 2 years later can be a horrible feeling. I’ve learned a lot in 8 years of attending buyers building and pest reports – I’d always recommend the buyer attend in person as the inspector can show you in person and explain any issues. The thing I always want to know, as well as the issue, is a possible solution to the problem – is it a cheap solution (~$200-500), a costly solution (~$5,000+) or something you probably won’t have to touch, but keep an eye on it? Always discuss the inspection report with knowledgeable friends – keep in mind, unless it’s a brand-new house, there will be small things that come up. The valuation protects a buyer from purchasing a property that if they get into unforeseen trouble into the future and they can’t sell and recoup the costs. In simple scenario, if you purchased a $500,000 property with a $50,000 deposit, owing $450,000 and you have to sell, you wouldn’t want to have to sell for $400,000 (you’d be $50,000 short). Generally, if a buyer has been house hunting for a while, they’ll get a good idea of the value of properties during the process, but always make sure you work closely with your broker when purchasing to make sure your price and valuation will work. Ultimately, your finance clause should cover you if you get caught up in the hype and spend too much on a property.”


Are there any common pitfalls or challenges that sellers should be aware of when preparing their properties for sale and how can they overcome these obstacles?

“Most homeowners are house proud and want their house to be the best in the street. We often find sellers who put in the most effort in preparing to sell, get the most back, however it’s not always about spending money in the preparation. I’d suggest if you’re thinking of selling, get in touch with a trusted real estate agent or friend and try to put yourself in a buyers shoes. Consider popping into a few open homes similar to yours to see how other houses are presented, did you notice anything in particular that was a turn off? Smells, Grime, Dust – a good declutter and clean will make a world of difference in any property.”


Are there any emerging trends or developments in the property market that buyers and sellers should be aware of when making their decisions, such as changes in buyer preferences or shifts in market dynamics?

“We’re seeing quite tight stock levels at the moment with not many houses for sale which makes it hard to buy and sell at the same time. We are starting to see more bridging loans as buyers understand “subject to sale” contracts simply aren’t as attractive when it’s a sellers’ market. Buyers could consider offering rent-backs over longer settlements – it allows a seller to have a known amount to spend and not be subject to sale, so consider offering a 2-3 month rent-back clause rather than a longer settlement. A special contract clause is likely required for this to avoid any penalties if purchasing as your PPOR. The biggest trend I’m seeing for sellers is where an owner purchased a 3-bedroom, 1 bathroom house prior to 2020 now have around 30-50% equity in their home, however their home is getting a little small – maybe they purchased as a couple and now they’ve got two young kids. These owners get ideas about raising and building, extending or knocking down and building new. The quotes are coming back around the $500,000-$1,000,000 mark. Rather than adding this to their loans, they’re choosing to buy a bigger house within ~3km radius for an additional $200,000-400,000 and keep their loan value lower.”

As we wrap up this month’s real estate update, Brad’s expert insights offer clear guidance for navigating the Brisbane market. His advice is invaluable for making smart investments and highlights the crucial role of professional expertise in the real estate process.

Brad Shipway

PROPERTY SPECIALIST

HARCOURTS PINNACLE ASPLEY

Madd Loans - © Copyright | My Address Pty Ltd ABN 92 214 374 271 | Australian Credit License Number #441952 | Website by Ola Digital