Latest news with #REIQ
ABC News
15-07-2025
- Business
- ABC News
Property prices in Gladstone rebound after bust
Proximity to beaches, a bigger house and a pool, without the premium city price tag. That was what inspired Brisbane mortgage broker Stevie Gera to pack up her family and move to the industrial city of Gladstone in central Queensland. "To achieve that anywhere remotely close to Brisbane, we would be needing to increase the mortgage by a good $300–400,000 to get what we wanted, and we weren't willing to do that," Ms Gera said. The median house price in Gladstone, a city known for its boom-and-bust cycles, has risen by more than 74 per cent in the past five years, according to Cotality data supplied to the Real Estate Institute of Queensland (REIQ). Its most recent quarterly data from March revealed the annual median house price was $520,000, while units now fetched $335,000. That is an increase of more than 97 per cent for units since 2020. In 2012, Gladstone was undergoing an LNG (liquefied natural gas) construction boom, and property prices soared. But the work dried up, and by 2018 most homes were selling at a loss. It fuelled the perception of Gladstone as a boom-and-bust city, and some banks still consider it a high-risk lending location, subjecting borrowers to stricter lending conditions. However, Ms Gera said she had noticed through her work as a broker that this was shifting. "A lot of them [lenders] have taken Gladstone off that high-risk postcode register and they just see it as any other location," she said. Alicia Williams has sold homes in the region for more than a decade. "Gladstone's always been a boom-and-bust town, until I would say just before COVID it started to find its own feet and it started to find a sustainable path forward," she said. "We've got a lot of different industry now, which has been diversified over the years." Ms Williams said in her agency in June, the average four-bedroom two-bathroom home was selling for about $580,000. She said in the past two years, there was also significant interest from interstate investors, especially from Sydney and Melbourne. REIQ zone chair for Gladstone Celina Solis is a fourth-generation local who lived through the region's tumultuous crash. She said seeing the area thriving once more was heartwarming. It is a similar situation in other regional centres across Queensland, with significant growth in Bundaberg, Rockhampton and Townsville. "All these regional cities are going so well because more people are realising, 'Hey, I can come here and work and get a really good job … get a property with a shed, pool, four or five bedrooms for a reasonable price point,'" Ms Solis said. She said for Gladstone, people were attracted to the family-friendly lifestyle and the draw of well-paid jobs. Ms Gera and her husband chose Gladstone because they already had an investment property there, so they had visited before and liked the region. Her three children, aged six, eight and 16, were initially apprehensive, but she said the slower pace and larger family home had been life-changing. However, Ms Gera said prospective buyers should consider their health care needs before moving. South Gladstone resident Tracey Mullens agreed. She bought in the city after finding it impossible to find a rental in Brisbane with a yard for her children and wheelchair accessibility for her husband. "We started looking and the circle kept getting bigger and bigger until we got to Gladstone," Ms Mullens said. She said while moving was a necessity at the time, her family struggled to find reliable support workers, and it was a challenge to travel for health care. Ms Mullens said she planned to move back to outer Brisbane when it was financially possible.
News.com.au
28-06-2025
- Business
- News.com.au
‘Buyer beware': Huge change to how homes are sold in Qld
Queensland's real estate industry is bracing for new laws which will make it the nation's most regulated major market – but buyers' advocates say the reforms still fall short. The landmark seller disclosure scheme effective from August 1 will 'fundamentally alter' how homes are sold, according to industry experts. Sellers will have to share a wide range of details about their property before contracts are exchanged, including zoning, rates and water charges, tree orders or heritage listing, government orders requiring work or money, and any building work carried out by an owner-builder in the last six years. But the pendulum still swings to 'buyer beware', with controversial omissions including the structural soundness of the building or pest infestation, the presence of asbestos, and any history of flood or other natural hazards. Real Estate Institute of Queensland CEO Antonia Mercorella said the changes to the Property Law Act was one of the most significant since it was introduced in 1974. 'While this is a meaningful change that enhances consumer protection, it's important for buyers to understand that the seller's disclosure regime may not prescribe or encompass everything they may wish to know about a property, and accordingly they should still conduct their own due diligence,' Ms Mercorella said. 'The 'buyer beware' principle continues to apply in Australia.' Ms Mercorella said the peak body had been pushing for a clearer disclosure process for more than a decade, which had been 'largely delivered' by the legislation. Challenges included ensuring sellers had easy and low-cost access to the information they had to reveal to buyers. Brisbane buyers agent Melinda Jennison said the updated minimum disclosure requirements lacked in areas 'buyers are commonly exposed to risk'. 'It would have been great if sellers were required to disclose any uncertified or unapproved building work that had taken place at the property,' Ms Jennison said. 'Sellers should also be obligated to disclose any previous building or pest defects that have been identified in the past, even if those issues have since been addressed. 'The availability of past inspection outcomes would provide an important layer of transparency for buyers.' Ms Jennison said this information would allow buyers to make better informed decisions, rather than having to undertake costly investigations of their own after contracts were exchanged. Property lawyer Bryce Melville, of Redemont, said Queensland's new seller law was tougher than its counterparts in NSW and Victoria, noting seven specific disclosures that were not required by either of the two other states. 'Sellers and agents need to prepare now,' Mr Melville said. 'For the first time, sellers must provide a full set of disclosure documents, including title searches, planning certificates and environmental notices, before a contract is signed, or risk the contract becoming void. 'The changes bring Queensland in line with Victoria and NSW, but go even further, setting a new national benchmark for buyer protection.' Chris Burling, of Business Depot Legal, said the reform aimed to boost transparency and avoid disputes by giving buyers crucial information upfront. But it was 'not a free pass', Mr Burling said. 'Unlike other states such as NSW and Victoria, Queensland has historically operated under a 'buyer beware' model, placing the onus on the buyer to uncover crucial property details through independent due diligence,' Mr Burling said. 'This has often left buyers vulnerable to unexpected risks and financial loss if key issues weren't identified before entering into a contract.' The new rules were expected to create a ripple effect through the market, potentially delaying off-market deals and auctions as sellers would need to engage a solicitor earlier to prepare the disclosure documents. Ms Jennison said the reforms, while 'a step in the right direction', left room for improvement. 'In particular, standardising the disclosure of known historical issues would significantly reduce buyer vulnerability and improve transparency across the market.'
Courier-Mail
16-06-2025
- Business
- Courier-Mail
Nudity, grow houses: Agents reveal their selling horror stories
Queensland real estate agents have shared some of the craziest things they have encountered while selling property, and let's just say they well and truly earned their commission. In one case, an agent found wardrobes with 'glowing lights', while another had to make excuses for a topless sunbathing vendor at an open home. On behalf of News Corp, the Real Estate Institute of Queensland (REIQ) hit up their thousands of members to find out just what goes on before, during and after the doors open on a listed property. Here we look at the most recent ones, and revisit a few from the past. 1. There's Something About Mary Vibes One of my most memorable was when I was down the Gold Coast many years ago. We went to do an open home at this really lovely high end property in the area, rocked up and buyers were starting to arrive. I was still pretty young at this stage and new to real estate. I opened up the house and the owner said she would just be out at the pool during the open home and that was fine. What she didn't tell me was that she had planned to sunbake topless during the open home. She was a more mature lady and gave 'There's Something About Mary' movie vibes. Being not long in the industry I had no idea what to say so I just said to buyer, 'please excuse the owner she is just laying by the pool' and pretended it was normal. 2. Reluctant to Move My older couple had a contract on their house. Less than a week before settlement my agent went to see them to make sure things were on track for their move and they told her they were going to start looking after they had money in the bank from settlement and would let her know when they were going to move out. She then spent the rest of the day organising removalists, someone to pack for them, called their family to help and got them a rental. 3. Above and Beyond On settlement days we have packed trucks, mowed lawns, cleaned houses, moved livestock, found homes for chickens, rehomed goldfish, replaced plants that have been taken from gardens, gone on hunts for media system remotes because buyers are refusing to settle without them cause they can't prove its working and the seller accidently packed it and its in the truck somewhere. 4. Illegal Shrubbery Finding wardrobes with glowing lights that when you open you find a 'tomato garden' where the plants don't seem to have any fruit on them at all. MORE: Shock as city's distressed home listings surge 36pc in one month Work site, skip bin, fencing: River block fetches insane price Bogan to boujee: 'Hobbit House' a work of architectural magic 5. Jailhouse Block About 10 years ago we were selling a property for a gentleman who ended up in jail during the process. It was before all the electronic signing stuff came in so one of my agents had to go to the jail during visiting hours to get him to sign the contract. 6. Snake Gone Rogue Ray White New Farm agent Brandon Wortley recalled conducting an open house in one of Brisbane's blue chip suburbs when a snake went rogue, flying out of a bush and hitting the vendor in the chest. 'I was walking out to meet the owner on the river walk when I caught sight of the tail of a snake slithering in to a bush,' he said. 'It appeared to be making a beeline for the courtyard next door where there were two dogs. 'My plan was to jump the fence, grab the dogs, do something. I was just operating in the moment. 'But the snake had made its way up inside the hedge and then bam, as the vendor was walking past it, it literally flew out of the hedge and whacked her in the chest. 'She just bolted up the boardwalk. I have never seen anyone turn so white.' 7. Police Raid Henry Hodge of Hodge Real Estate recalled conducting an open house at a 'dingy apartment in Fortitude Valley' when police suddenly raided the building. 'There was lots of noise but we just minded our own business,' he said. 'I was mortified.' 8. 1% Club Place agent Ben Cannon recalled selling a house for a man who denied being a bikie. But the cache of firearms hidden around the property — and in the roof — suggested otherwise. 'He told me at the 11th hour that he wanted to cancel the open house because he had guns,' Mr Cannon said. 'I told him to stick them in the roof but he said he couldn't because it would cave in, it was so full of guns. 'I said, surely you can't have that many guns so I went around and sure enough, he showed me cupboards full of guns.' Feeling overwhelmed after seeing the arsenal of firearms, Mr Cannon said he wanted to find a way to 'fix it'. He said the owner pulled a handgun out from a bedside table and walked downstairs with it. 'He was saying, why isn't my house selling but it was so full of guns and he was always there,' Mr Cannon said. 'When I did present an offer, he pulled a handgun out and put it between us during the negotiations,' Mr Cannon said. 'I was glad to see that one gone.' 9. Squatters Paradise Ray White Bulimba principal Scott Darwon has dealt with everything from a cantankerous cat that refused to budge from under a house to a homeless man who invited himself into a New Farm property he was showing potential buyers. 'He (the homeless man) just came in and started ripping up the lino and stealing the newspapers,' he said. 'It was all a bit weird.' 10. Buff Audience 'I went to do an open in a brand new home and two gentlemen were tanning naked,' one anonymous agent said. 'One was scooping the leaves up into his pool net, butt naked, and the other splashing around the shallows. 'They were very angry when I showed up as I was 10 minutes early. 'I said we had an open and I had to open everything. They jumped into a car with just towels draped around them and fortunately left with a very amused buyer with three kids watching them get hastily into the car.' 11. UNRULY TENANT Meanwhile, another agent recalled opening a house for inspection only to find it was not vacant. 'I did not see a massive green python draped over the top of the shower screen in the main bathroom, which I would have walked right past to get to the light switch,' the agent said. 'A buyer found it when he was checking the shower. The buyer bravely locked the snake in the room, and I had to tell all the buyers at the inspection to not open the door that was shut downstairs as there was a snake that had snuck into the property. 'One lady just freaked out and left. I called a snake catcher and he came to the property later that day to rescue and release the snake. 'Funnily enough the buyer that found the snake put an offer on the property.' 12. WHEN PARANOIA STRIKES In another case, a paranoid agent who thought he was being secretly filmed by the vendor reportedly copped a dose right in the eye. Dobbed in by a fellow agent, the tale goes that Mr Paranoid 'noticed a small mobile air freshener unit on the mantelpiece in the lounge that was emitting a small flashing light every minute or so'. 'Convinced that he was being secretly observed and recorded, he sidled up to the unit to take a look straight down the barrel of the 'camera' that he believed his untrusting sellers had hidden in this sneakily arranged security contraption, only to have a metered dose squirted squarely and fairly directly into middle of his right cornea. There was no camera,' the source said. 13. CAN'T BE UNSEEN While another agent owned up to their own faux pas after accidentally escorting several groups into the wrong apartment in South Brisbane. 'I didn't realise I had walked straight into the unit next door to a naked couple in a very passionate embrace on their couch. That's was a tough day,' the agent said.
News.com.au
16-06-2025
- Business
- News.com.au
Nudity, grow houses: Agents reveal their selling horror stories
Queensland real estate agents have shared some of the craziest things they have encountered while selling property, and let's just say they well and truly earned their commission. In one case, an agent found wardrobes with 'glowing lights', while another had to make excuses for a topless sunbathing vendor at an open home. On behalf of News Corp, the Real Estate Institute of Queensland (REIQ) hit up their thousands of members to find out just what goes on before, during and after the doors open on a listed property. Here we look at the most recent ones, and revisit a few from the past. There's Something About Mary Vibes One of my most memorable was when I was down the Gold Coast many years ago. We went to do an open home at this really lovely high end property in the area, rocked up and buyers were starting to arrive. I was still pretty young at this stage and new to real estate. I opened up the house and the owner said she would just be out at the pool during the open home and that was fine. What she didn't tell me was that she had planned to sunbake topless during the open home. She was a more mature lady and gave 'There's Something About Mary' movie vibes. Being not long in the industry I had no idea what to say so I just said to buyer, 'please excuse the owner she is just laying by the pool' and pretended it was normal. Reluctant to Move My older couple had a contract on their house. Less than a week before settlement my agent went to see them to make sure things were on track for their move and they told her they were going to start looking after they had money in the bank from settlement and would let her know when they were going to move out. She then spent the rest of the day organising removalists, someone to pack for them, called their family to help and got them a rental. Above and Beyond On settlement days we have packed trucks, mowed lawns, cleaned houses, moved livestock, found homes for chickens, rehomed goldfish, replaced plants that have been taken from gardens, gone on hunts for media system remotes because buyers are refusing to settle without them cause they can't prove its working and the seller accidently packed it and its in the truck somewhere. Illegal Amenities Finding wardrobes with glowing lights that when you open you find a 'tomato garden' where the plants don't seem to have any fruit on them at all. Jailhouse Block About 10 years ago we were selling a property for a gentleman who ended up in jail during the process. It was before all the electronic signing stuff came in so one of my agents had to go to the jail during visiting hours to get him to sign the contract. Snake Gone Rogue Ray White New Farm agent Brandon Wortley recalled conducting an open house in one of Brisbane's blue chip suburbs when a snake went rogue, flying out of a bush and hitting the vendor in the chest. 'I was walking out to meet the owner on the river walk when I caught sight of the tail of a snake slithering in to a bush,' he said. 'It appeared to be making a beeline for the courtyard next door where there were two dogs. 'My plan was to jump the fence, grab the dogs, do something. I was just operating in the moment. 'But the snake had made its way up inside the hedge and then bam, as the vendor was walking past it, it literally flew out of the hedge and whacked her in the chest. 'She just bolted up the boardwalk. I have never seen anyone turn so white.' Police Raid Henry Hodge of Hodge Real Estate recalled conducting an open house at a 'dingy apartment in Fortitude Valley' when police suddenly raided the building. 'There was lots of noise but we just minded our own business,' he said. 'I was mortified.' 1% Club Place agent Ben Cannon recalled selling a house for a man who denied being a bikie. But the cache of firearms hidden around the property — and in the roof — suggested otherwise. 'He told me at the 11th hour that he wanted to cancel the open house because he had guns,' Mr Cannon said. 'I told him to stick them in the roof but he said he couldn't because it would cave in, it was so full of guns. 'I said, surely you can't have that many guns so I went around and sure enough, he showed me cupboards full of guns.' Feeling overwhelmed after seeing the arsenal of firearms, Mr Cannon said he wanted to find a way to 'fix it'. He said the owner pulled a handgun out from a bedside table and walked downstairs with it. 'He was saying, why isn't my house selling but it was so full of guns and he was always there,' Mr Cannon said. 'When I did present an offer, he pulled a handgun out and put it between us during the negotiations,' Mr Cannon said. 'I was glad to see that one gone.' Squatters Paradise Ray White Bulimba principal Scott Darwon has dealt with everything from a cantankerous cat that refused to budge from under a house to a homeless man who invited himself into a New Farm property he was showing potential buyers. 'He (the homeless man) just came in and started ripping up the lino and stealing the newspapers,' he said. 'It was all a bit weird.' Buff Audience 'I went to do an open in a brand new home and two gentlemen were tanning naked,' one anonymous agent said. 'One was scooping the leaves up into his pool net, butt naked, and the other splashing around the shallows. 'They were very angry when I showed up as I was 10 minutes early. 'I said we had an open and I had to open everything. They jumped into a car with just towels draped around them and fortunately left with a very amused buyer with three kids watching them get hastily into the car.' Unwanted Tenant Meanwhile, another agent recalled opening a house for inspection only to find it was not vacant. 'I did not see a massive green python draped over the top of the shower screen in the main bathroom, which I would have walked right past to get to the light switch,' the agent said. 'A buyer found it when he was checking the shower. The buyer bravely locked the snake in the room, and I had to tell all the buyers at the inspection to not open the door that was shut downstairs as there was a snake that had snuck into the property. 'One lady just freaked out and left. I called a snake catcher and he came to the property later that day to rescue and release the snake. 'Funnily enough the buyer that found the snake put an offer on the property.' When Paranoia Strikes In another case, a paranoid agent who thought he was being secretly filmed by the vendor reportedly copped a dose right in the eye. Dobbed in by a fellow agent, the tale goes that Mr Paranoid 'noticed a small mobile air freshener unit on the mantelpiece in the lounge that was emitting a small flashing light every minute or so'. 'Convinced that he was being secretly observed and recorded, he sidled up to the unit to take a look straight down the barrel of the 'camera' that he believed his untrusting sellers had hidden in this sneakily arranged security contraption, only to have a metered dose squirted squarely and fairly directly into middle of his right cornea. There was no camera,' the source said. Can't Be Unseen While another agent owned up to their own faux pas after accidentally escorting several groups into the wrong apartment in South Brisbane. 'I didn't realise I had walked straight into the unit next door to a naked couple in a very passionate embrace on their couch. That's was a tough day,' the agent said.
News.com.au
09-06-2025
- Business
- News.com.au
‘Never a good day': Gen Y property manager spills on troubled industry
A 22-year-old property manager has exposed the grim realities of an industry plagued by high turnover, with nearly a third of its workforce contemplating resignation. From workplace affairs and clueless young investors to poo-smeared walls and a rogue dildo, the Gen Y property manager said her negative experience drove her to quit the industry after two years. It comes as the Real Estate Institute of Queensland (REIQ) highlighted growing dissatisfaction among property managers caught between tenants grappling with sky-high rents, and landlords managing increased holding costs and changing rental laws. Taking to Reddit after resigning from her position at a Queensland agency, the woman, identified as IcyBrick3874, described a high-pressure, underappreciated job marked by disturbing tenant behaviour. During an exit inspection, she found 'human poop on the carpet floor and on walls EVERYWHERE! Used period pads, weed and used needles'. In another routine inspection, she found a tenant's 'hot pink dildo was suction cupped to the shower wall'. The property manager also cited challenges with 'young, high-income individuals' buying their first properties as investments then demanding unrealistically high rents despite having 'minimal understanding of the rental market'. Ultimately, she concluded, there was 'never a good day'. Her experience aligned with insights shared by 751 property managers surveyed by MRI Software for the National Apartment Association, detailed in the Voice of the Property Manager 2024 report. The research found 29 per cent of property managers wanted to quit within the next five years, rising to 31 per cent among those who had been in the industry for six or more years. REIQ CEO Antonia Mercorella said property management remained 'a tough and emotionally taxing profession', despite more training in areas like mental health and resilience. 'The abuse directed at property managers, including verbal aggression and public vilification, previously even from political figures, is completely unacceptable and disheartening,' Ms Mercorella said. 'Queensland's property managers continue to operate in an incredibly high-pressure environment, with rental conditions remaining stubbornly tight and competition for more affordable, quality stock still intense. 'High turnover continues to strain agencies and the professionals who stay, taking a toll on service levels and wellbeing.' Palaszczuk scores insane 684 per cent return on Brisbane property IcyBrick3874 said she felt 'set up to fail' as a young team leader with little experience: 'the turn over is so high they take anyone'. She also noted a disturbing workplace culture, revealing some older male sales agents were 'inappropriately flirty with younger women', creating a 'really uncomfortable environment'. It was 'pretty widely known' that 'married agents were involved in affairs with younger staff,' describing it as a side of the industry 'rarely talked about, but definitely exists'. Ms Mercorella said the introduction of Stage 2 rental law changes in May had added significant extra strain on workers tasked with educating landlords and managing disputes. 'While we welcome efforts to improve support for property managers, including professional development and mental health resources, the core issues — chronic rental undersupply and unrelenting regulatory change, continue to weigh heavily on the profession. 'If we want to retain skilled professionals and ensure the stability of our rental market, we must better support and value those on the frontline of housing delivery.'
