History Repeats | Brisbane's Growth Mimics The Booming 30's

I was intrigued to recently read that like today, Brisbane was undergoing a population boom in the 1930's.?

It was as if I was reading an article about the exact challenges we are facing today in the Brisbane market.?

History shows that identical to our current market, in the 1930's we had a severe housing shortage, mainly due to an increasingly buoyant Queensland economy and substantial population growth, driven by both a natural increase and immigration.

In 1935, 121 flat projects including house conversions were approved by the BCC. Brisbane's housing shortage was acute, and flat buildings were filling a gap in the rental market. Housing shortages continued into 1937, with rents increasing by 10% on the previous year. Surprisingly, flat construction declined around this period due to the "stringency of finance".

Another parallel with today's construction challenges, is that at the time, a rising Brisbane population combined with a substantial fall in the numbers of workers' cottages being constructed, created a severe housing shortage.

Finally, the other remarkable similarity was that in the 30's?rising rates, maintenance and related costs forced many owners to convert larger houses into flats and to subdivide large parcels of land.

This was a chance discovery, while researching the history of a magnificent art deco complex?"Evelyn Court"?where we are selling.

Julius Street, New Farm is actually one of the first examples of apartment buildings in Brisbane. I'd really encourage a walk around this incredible, tiny New Farm Street if you have the chance, as it is filled with seven art deco buildings, which I personally admire as the most stunning complete collection of period properties we have in Brisbane.?

Construction of flat buildings in Brisbane peaked in 1936–1937, with a decline in 1938-1939 partly due to the uncertain investment climate generated by threats of war in Europe, and partly due to the refusal of banking and financial institutions to lend on flat constructions.

If you are interested to read more,?please see the full article here!?

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The Week's Top 10 Sales

Brisbane's relative affordability compared with our southern capitals, continues to drive national focus on our capital, which remains one of the few in the nation to continue recording growth.?The top 10 sales in Brisbane last week, again illustrate the pent up demand for new build homes, luxury apartments and properties with unique features including views and river frontage.

Graya constructions dominated the top 10 sales last week, not only taking out the number one spot, with their incredible "Scorpia" on Hamilton Hill, but also a luxury apartment in their New Farm "Maison" development and resale property in Small Street, Teneriffe, up by almost a million dollars on the original purchase price. All three of these sales were achieved by our Ray White New Farm office.?

1. 25 Grays Road, Hamilton $confidential

2. 41 Maxwell St, New Farm $8,000,000

3. 9 Flemington St, Hendra $confidential

4. 1/60 Moray St, New Farm $3,400,000

5. 36 Small St, Teneriffe $2,900,000

6. 72 Tristania Drive, Bardon $2,815,000

7. 20 Westwood St, Wavell Heights $2,714,000

8. 194 Cliveden Ave, Corinda $2,710,000

9. 39 Westwood St, Wavell Heights $2,625,000

10. 56 Villiers St, New Farm $2,535,000

?*Top?10?Results are based on publicly available data, auction results, and data provided by agents. Data is deemed reliable at the time of publication but Christine Rudolph and Ray White New Farm neither?warrants?its accuracy or accepts any liability in relation to its use.

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Grow Podcast?

I'm excited to be working on a passion project to bring a regular podcast featuring stories of those who have succeeded through sheer determination.?

I'm very grateful to feature Nerida Conisbee on our first GROW Podcast. If you are interested, please feel free to?click here to subscribe?or?watch the full video here.

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Property of the Week

We have had an incredible response to this iconic New Farm Landmark,?"Evelyn Court".?

Available for the first time publicly, this cherished entire floor apartment has its own private lift access and spans 310sqm.

Tightly held, New Farm's landmark, iconic Art Deco "Evelyn Court" encompasses the charm of Hollywood's golden age.

Enjoying a dress circle position amid some of Brisbane's most coveted homes, this elite block of only 6 apartments are highly sought and rarely offered to the market.

Please contact me if you wish to arrange a private viewing.

Warm regards,

Christine