Understanding Demand and Supply: Jeremy Sheppard on Nine News Qld

Jeremy Sheppard

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March 23, 2017

 

Transcript:

Want to know what your property is really worth?

There's a new do-it-yourself tool that can tell you. It reveals the southeast suburbs where demand outstrips supply, the best recipe for a quick sale. You see a lot of this around Ferny Hills: “Gone”, “Sold in no time”, “This one went first weekend on the market” and “A record price for the area”. “We're basically seeing homes selling within seven to fourteen days,” said Jesse James from Harcourts.

It's boom time in the suburb where demand outstrips supply. “So we priced the home at offers over $525,000 and we ended up selling and securing the property for $551,000.” It’s happening in pockets across the southeast. There's even a tool to measure how hot your property is.

Jeremy: “Measure demand relative to supply and come up with an objective, consistent figure for every suburb in Australia.”

Type in the suburb and Jeremy's online gizmo gives it a score. Anything over 60 is good; indicating demand is bigger than supply. It also gives a valuation figure for your area.

Jeremy: “You want those markets—the ones with the most potential for future capital growth.

Jeremy's top picks include: Eatons Hill, Strathpine and Arana hills. To the north: Stafford Heights, The Gap, and Norman Park. In Brisbane on the Gold Coast: Molendinar and Carrara, Goodna in Nipswich and Boronia Heights and Regents Park.

Jeremy: “On the south side: Regents Park, which is probably my favorite market of all.”

One of the big drivers for areas like Ferny Hills and properties like this one, is the proximity of the local railway station—it's only about a kilometre in that direction.

“I think rail links are absolutely critical,” Terry Ryder. Real estate guru Terry Ryder says southeast Queensland is looking good. “Some areas like Logan City, down in the south heading towards the Gold Coast, and the Moreton Bay region up around Caboolture and Redcliffe.”

It's a good market for sellers—buyers have to be quick. “Make sure you put your best offer forward to start with.”

Phil Wilmington, Nine News.