This week’s winner – 8 Waterbury Terrace Idalia
In Idalia, falling in love with the house of your dreams on a waterfront lot with designer opulence fused with beautiful indoor and outdoor characteristic causes the heart to beat above the normal resting rate.
This excitement is especially so for the buyers of this property who are returning home to Townsville from the Gold Coast to collect the keys with their young family.
It’s the beginning of a new chapter for the couple in a place they know and love because they too were raised like so many families drawn to Townsville for city’s excellent education lifestyle.
And what a great bonus, absolute waterfront living is a dream lifestyle for many home owners.
Although everyone has the opportunity to reach these dreams if they choose, not everyone gets to experience the fulfillment and joy that a three-quarter million dollar property brings to the great Australian dream.
Now, even though the buyers may not realise this fact as they are buying a lifestyle home, they have acquired a property in a corridor that is set to benefit from an explosion in population growth to the South-west of Townsville in the coming 15 years.
This local Townsville family have worked hard, and as Townsville’s economy sprouts fresh pickings of a recovery with arguably the best educational facilities in the nation, there is no better time to buy in Idalia as the median house price has fallen back to near 2008 prices.
The location is a non-coastal suburb boasting a median house price below $400,000. Yet we are featuring a three-quarter million dollar property here as TREN’s top price property of the week winner. So achieving a sale price above the market benchmark is, of course, the envy of owners and sales professionals in the property industry.
In an exclusive interview with TREN, we will hear from the real estate agent who sold the property with over 15 years experience, Ms. Nicole Plozza from Ray White Douglas.
Firstly though, let’s put the suburb into context. Idalia was developed from a light industrial suburb to become one of Townsville’s fastest growing suburbs. The Fairfield Waters development saw the construction of nearly one thousand homes. Many of these are designed to executive standard with large floor areas, ensuites, 4 bedrooms and quality finishings.
This week’s residential property Top Price Winner of the Week has all of the features families have come to enjoy and need such as space, comfort, convenience, security and lifestyle.
The property sold for a cool $725,000 which is $327,000 above the current median house price for the suburb at $398,000.
If it were not for this positive price outcome in properties of this calibre, Idaila’s unimpressive drop in median house prices of 25 percent since Dec 2015 could have been much worse.
These positive sales stimulate improvement in the recovery and even verify that TREN’s predicted short to medium term recovery is in full swing.
We asked the real estate agent, Ms. Plozza, what are some of the highlights for you selling this home?
Ms. Plozza said; “The greatest highlight for me was that this is the third property I have worked on with these sellers after meeting them over 10 years ago when they bought their first 2 properties from me”.
“The home is pure opulence with absolute waterfront to the lake. It’s the perfect lifestyle home that fuses the outdoors with the indoors. It was great that the buyers were coming home to Townsville from the Gold Coast.”
With a sense of excitement and pride in serving the Townsville community with more free appraisals than she can remember, the veteran real estate professional voluntarily provided a comprehensive description of the features of this gorgeous home for TREN.
Ms. Plozza said;
“Spanning over an impressive 412sqm of opulence that must be seen to be believed, careful consideration has been given to the design in order to create the perfect fusion of indoor and outdoor living spaces resulting in a one of a kind lake front masterpiece.
“This property is a genuine opportunity like no other to own a statement home, meticulously designed to enhance the sprawling views over the lake toward Mount Stuart.
“The property has been entirely repainted internally allowing the new owners the opportunity to move right in and enjoy this stunning location. The property also has:
- Absolute lake front allotment has uninterrupted views of the lake, Mount Stuart and mountain ranges.
- Grand entrance complete with stunning chandelier, study nook, vaulted ceilings, large picture windows to maximize the natural light, high gloss porcelain tiles throughout
- Striking modern kitchen with stone bench tops, glass splash backs, walk-in pantry, double oven, instant filtered hot and cold water, feature colour accents and cabinetry
“For families, the home offers uninterrupted views of the patio, pool and back garden from the kitchen, dining, lounge and master bedrooms, ideal to watch the children at play.
“In addition, the property has:
- Expansive open plan living and dining room with cathedral ceilings, large frameless picture windows overlooking the pool, cascading natural light
- Central theatre room with step up seating and fully equipped with surround sound system, projector, screen and eight single theatre chairs all inclusive
- Master suite with walk-in robe and shower, separate toilet, Balinese inspired cabinetry, floor to ceiling tiles, direct access to the patio and pool
- Three additional bedrooms fully carpeted, second bedroom features void to allow additional light and louvers to capture the breezes
- Main bathroom dressed in opulent floor to ceiling tiles, seamless glass shower, separate bathtub and chic feature accent tiles
- Resort style oasis pool with waterfall, glass fence surrounds and wooden decking which extends onto the patio
- Spacious wrap around patio with spectacular lake side views and direct access to the pool, lounge room and master bedroom, the ideal entertaining space
- Fully fenced irrigated gardens and lawns, private gate access to the lake side walking tracks, low maintenance manicured gardens
- Third separate toilet near kitchen, 2.5KW solar system, split system air-conditioners throughout, internal laundry, oversized double remote lock up garage with internal storage
- Minutes walk to Fairfield shopping centre, and a short drive to the CBD, Lavarack Barracks, Townsville Hospital and James Cook University.” Ms Plozza said.
TREN’s research has identified that the suburb of Idalia had a population of approximately 3600 people as defined in the 2011 census. Between 2006 and 2011, the suburb grew in population by approximately 1600 people. Based on the 2016 census, the current population has increased to 4438.
The residential increase in the population of Idalia occurred when the Fairfield Waters housing estate was created in 1998. The most significant growth occurred when the Fairfield Shopping Centre was developed in 2008.
The suburb represents excellent value. Yet first home buyers of established homes are not eligible for the first home buyer’s grant if they were to buy this property. In spite of the $20,000 new home buying incentive, the discounts being experienced in Idalia are worthy of both investor and first home buyer attention.
The suburb has a current median house price of $398,000, down approximately 12 percent from $460,000 over 12 months ago. Units in Idalia have a median unit price of $238,000 down a massive 40 percent over the past 12 months from $405,000.
The sale price achieved for this property of $725 thousand will have a positive impact on the median house prices in Idalia as it exceeds the current median house price for the suburb. Approximately 69 house sales have been recorded in Idalia over the past 12 months.
The median rental price for houses in Idalia is $410 per week producing a yield of approximately 5 percent from 194 tenanted properties in 12 months. Units have a median rental price of $330 per week producing a yield of approximately 3.7 percent from 31 tenanted units in 12 months.
Idalia has a desirable lifestyle for couples and families with shops, schools, university and well established landscaped streets and water side walking and bikes paths in the area.
Maturing, established and older couples and their families make up 58% of the population. Independent youth, make up 11% and established independent people make up 11% of the population respectively.
The old Ross River meat works in Idalia is of heritage significance. It closed down in 1995 after 103 years of operation and demolished. However, the chimney of the old meatworks has been retained.
The suburb supported workers in the meat industry, including the establishment of a meat experiment station in 1914 until it was taken over by the CSIRO in 1932. During the Second World War, a military camp was established in Idalia.
The Oonoonba Primary School has taken enrolments since 1920. The current location of the school is approximately 600 metres walking distance of this property which was established as a new school in 2002. Southern Cross Catholic School is 1.4 kilometres and three other schools are located 2 to 2.5 kilometres from the property.
James Cook University and Australia’s largest army base, Lavarack Army Barracks, is approximately 5 minutes drive from the property.
The demand for housing in Idalia has increased over 100% since prices have reduced over the past 12 months.
Over the same period, demand for rental accommodation has been steady. Prices for rental properties have also been steady while house sale prices have reduced by nearly 12 percent and unit prices have reduced by nearly 40 percent.
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