Subscribe
Share
Share
Embed
When it comes to real estate in Beenleigh and Eagleby, there’s one name you need to know: Benjamin Waite. As a trusted expert with deep local knowledge, proven results, and a passion for helping clients succeed, Benjamin is the go-to agent for sellers, buyers, and investors in the region. Worth the Waite is more than just a podcast—it’s your insider guide to Beenleigh's property markey, offering valuable insights and strategies designed to position you for success in the property market.
From understanding local trends to maximising your property’s value, each episode equips you with the tools and knowledge you need to make confident Real Estate decisions. With a friendly yet professional approach, Benjamin shares real-world advice, stories, and tips, making complex real estate topics accessible and actionable. Whether you’re planning your next move or simply want to stay informed, tune in weekly and discover why working with Benjamin is always Worth the Waite!
Looking to stay ahead in the Beenleigh and Eagleby property market. Want to get local insights from someone who knows this community inside and out? Then you've come to the right place. I'm Benjamin Waite, and welcome to Worth the Waite Beenleigh and Eagleby Local property podcast where we'll be diving into everything you need to know about real estate right here in our beautiful region.
Hello and welcome to The Worth The Waitee podcast. The go-to podcast for anyone wanting sharp, honest real estate insights for Beenleigh and Eagleby. I'm joined again by Benjamin Waitee, principle of LJ Hooker Beenleigh, and today we're unpacking the current state of the property market right here in our local area.
Whether you're thinking of selling. Buying, investing, or just curious about what's happening with pricings listings and demand. And this episode, we'll give you the clarity you need to make smart property decisions this spring. Ben, welcome to the show. Hello, Adam. Good morning. Good afternoon. Good. It's good afternoon.
It is. Good afternoon. Just so, uh, welcome back mate. Good to see you again. Thank you. Excellent. Alright. Tell me what's been happening. We we're here in spring. This is November, we're just going into November. Yes. Uh, 2025. What's happening?
Spring is busy. Uh, it's, uh, we've had a couple of, um, kind of market, um, uh, I suppose stimuli that have been injected from mainly government grants.
Yep. So demand's been very strong, um, and consistent for a long, for a long time. Uh, but, uh, what we've found is that the first home buyer grant that was set to start in January was brought forward to October. Uh, and we've seen a marked change between, yeah, between kind of September and October.
Because Benley and Eagleby is, is sort of prime for that, isn't it?
You've still got those properties by land properties for, yeah. And so tell me about that grant scheme. It, it's 5% deposit, isn't it? For, uh, yeah.
There's a couple of different schemes out there. One's a federal, one's a state. Um, the federal is, um, the 5%, um, down. So all you need is a 5% deposit and they will go guarantor on the loan.
Um, a lot of people historically might understand that is mom and dad going guarantor, but essentially what that means is that mom and dad are guaranteeing that if you don't make the, your repayments, um, they will make the repayments to the bank. Yeah. That's what a guarantee is, is Sure. Um, or the bank can take their assets as in mom and dad.
Yeah.
So some mom and dads are, you know, might be a bit risk averse and that's kind of, it sounds a bit scary, but that's ultimately what the deal is. In this situation, the government is guaranteeing the loan,
right?
They're not failing. No. Well that's arguable, right? Depending who you are. Well, that whole, in what context?
A whole, yeah. But, um, but in this situation, I think that they're pretty solid bet for a bank. Um, so that's, um, obviously, um, a very strong situation. Okay. And
no mortgage insurance.
So, yeah, so that's, um, that is, that defeats LMI. So, um, lenders mortgage insurance. So yeah. Good, good point. That's one to mention.
So Lenders mortgage insurance for all those, uh, people who don't know lenders mortgage insurance is, um, is something that will kick in the bank, will make you pay the insurance if you default the loan, uh, which I think is always, um, brilliant. Um, but, uh, they will get you to pay for insurance. If your deposit is less than 20% Yep.
Of the purchase price, right. That's risky. And why that's risky is because if the market was to turn and you only had 5% skin in the game, they were lending 95%. Let's say the market dropped by 5%, or let's say they dropped by 10%, they couldn't get their money back. No. So they want insurance for that.
Yep.
'cause they want to get all their, their principle back or their money back. So. So that's, that's why it exists. Sure. Um, 20% market's not usually gonna fluctuate in 20%. So, you know, when you see things turn, you've got a little bit of time to liquidate the asset. A bank can call their, their, their money in. So that's, that's kind of the, the mechanics behind it.
Yes, you save on that as well. Um, and that's from a federal perspective. From a state perspective state, um, the state government charges stamp duty, what's now called transfer duty. Okay. It's had a name change. Yeah. Hasn't had a name change. Yep. So, um, essentially the. They're taxing us because the title is Changing Hands or Transferring Hands.
Big lot of Money, isn't it? I don't, I don't know. I don't know what that's for, but it's been around for a long time. Yep. Um, so, and that's a really big, um, income producer for, for state, um, state governments anyway, so, um, you as a first term buyer, they won't charge you for that as well. Right. So, um, so they're the benefits, so the.
The change, those mechanisms have been in operation for a while. But the, the change that happened in October was that the, the, the first owned buyer grants, which were capped at 700,000 purchase price or contract price got elevated to a million. Yep.
Brings in a whole bit much bigger pool.
Yep, yep. So, um, so we've seen, we've seen, um.
So I actually was just talking to you before, right? I was just actually brokering a, um, a deal just before where we had a contract on a two bedroom unit that was, um, in August. At the start. Yeah, around middle of August that contract fell over and I've just broken another deal and, um, today, and that's, that price has gone up 10%.
So five 50 now. 10% on 500 in six weeks.
Wow. So you're seeing, so from what I'm hearing then it's. Sort of a situation at the moment, we're seeing Beenleigh and, and Eagleby especially that with these new government schemes, it's brought, brought in a, a whole heap more demand. And it, it, it's, it's moving that market up.
It's just allowed, um, the, the 5%, the difference between 5% on 700 to 5% on a million is not a huge amount. No. So the biggest thing was the stamp duty and, and so on. And, and the LMI. Buyers had probably the serviceability to be able to do a higher loan. They just couldn't Yeah. Because of those extra costs.
Sure. That's just kind of opened it up the floodgates. So, um, so now, um, what's, what's worth 700,000, you know, in, in, in October? My prediction is, my original prediction was probably two years, and this is my personal view. Yep. Um, that in two years we'll be worth a million dollars. That could be sooner. So that's a 30, 30% growth.
In kind of two years, 15% per annum. Um, so it's a very good time to buy at the moment.
Yeah, absolutely. Even though it's hot. So you're seeing good turnout at, at, at open homes and, um, and things selling pretty quickly?
Yeah, I, I, again, before the grants, we were probably averaging 15 groups, um, through an open home.
Um, we've now the last couple of home properties that we've, um, we've transacted on last few, probably kind of, you know, maybe that 20 to 30 mark now. Mm-hmm. Um. Everybody's now jumped onto housing stock. So units and townhouses are very, very popular because people just couldn't, you know, get the house. Yep.
Now that the, the, their, um, affordability has increased, now the demand is jumping onto houses. Um, so yeah, we've got a bit of a mini cycle happening at the moment, but, you know, there's buyers. There's
buyers everywhere. Okay. Very interesting times. How about, um, how about sellers? How are they now? And how, is there plenty of stock available?
No, there's not. Okay. Um, there's a little bit more stock that's come to market. I think that's a seasonal thing around spring and, you know, Christmas is looming. Um, so anybody who kind of wants to do do something or make a move, they probably want to do that move before Christmas hits. Mm-hmm. Um, and definitely before December hits, so there's probably gonna be a little bit more stock hitting the market now.
Um, our listing numbers and our appraisal numbers have gone up in the last two months in preparation for, for spring and also that Christmas, that Christmas time. So we've, um, uh, my, my team personally has listed 12, um, this month and we had, I think eight or nine last month. So. Um, that's a little bit up from, from, you know, a normal month to month or a long, long term, you know, monthly average.
Um, so I'm expecting a little bit more, um, choice for buyers out there, which is good. Um, good from a buyer's perspective, from a seller's perspective. Um, you know, like the last two houses we had 12 offers on, on each of those. So, um, it's still a seller's market. And your buyers are still probably fighting amongst themselves rather than having a one-on-one negotiation with a seller.
Right. Okay. So what sort of trends or shifts are you expecting as we sort of head into head into summer?
Uh, I think that we're seeing, well, I think the market's gonna continue to continue to move. Um, uh, sellers are, there's gonna be sellers out there that want to sell, but because the market's strong.
They're concerned about the purch purchasing, the purchasing side. Mm-hmm. So, um, I think for agents out there and for us, it's really, we've really gotta give them some confidence, um, hold their hand and maybe try and try and be creative with how we structure deals to be able to facilitate the move Yep.
For them. And there's a number of ways we can do that. I'm pretty sure we've actually done a podcast on, on exactly that. Um, 'cause there's a number of, um, of yeah. Techniques around that. But, um, I think that's gonna be a growing trend. I think also. We probably will see as people come up for holidays, um, they're like, look man, how good is this place?
Yep. Um, gold Coast, Brisbane. You see that most years, don't you? Yeah. Yeah. And they're like, oh, look, I, I, maybe, maybe we need to make the move. We've been talking about it for a long time. So that, that's always a thing as well. Uh, and then I also. We'll probably see that there'll be probably a lot of deals trying to get crunched before Christmas for the settlement to happen before the school year starts.
Right. That's always, they're all two big things. Okay, because that was gonna
be my final question for you. Mm. Talk me through what happens and the, the, the effects on buyers and sales. Let, let's call it the four weeks from. 15th of December through the, the, the, the 15th of, of January, Christmas, where traditionally in all other, all other industries, it basically just shuts down.
It's a weird place. Australia. Yeah. Nothing gets done for four weeks. Yes. Luck. What happens in lower estate? Well, good luck. Good
luck. Trying to find a tradie through then. Yeah. Um, well, Adam, I, I like to go surfing myself, um, if I can, but, um, no, seriously. Um, it, look, we. We try and we're available. Um, the market's still moving.
Um, if there are buyers out there, we're still servicing them. We, um, we try and be strategic with, like, we've, we've got a lot of tented properties too, so we've gotta be, we've gotta be tactical around. Tenants and access and, and, um, you know, leading through the Christmas break, we, um, we typically, I've done many deals through Christmas and New Year.
Um, but um, but we try and kind of maybe extend the contracts out so they can settle after Christmas. The, the funny thing is, is that no solicitors work. No tradies work, no. So all of the ancillary. Industries that support, you know, this, what you do aren't there?
So,
so we, we, um, a lot of the time, you know, you'll have a contract that might land on a public holiday and you've gotta kind of move that out anyway, so.
We, you know, a, a good agent will just obviously, you know, um, have experienced that before and will just kind of negate that. So they just write all that into the contract before, before that happens. Um, but you know, we're all humans and we all kinda want a bit of, a bit of, a bit of a break as well. Yeah.
'cause it's, it's a very busy, it's a very busy last few years. Yep.
Absolutely. Fantastic. Well look, thanks Ben. Always great to hear what's happening on the ground from someone who lives and breathes the, uh, the Beenleigh and Eagle V property market. So, look, if you've been wondering what your property might be worth, uh, Ben is definitely the, the right person to, uh, to speak with, uh, with his deep understanding of the local market.
Proven strategy to get results. Um, you're in very capable hands, so, uh, visit benjaminwaite.com.au or drop into LJ Hooker Beenleigh for an honest conversation about your next property move. And look, don't forget to, uh, to follow, worth the Waite so you don't miss another EP episode. And, uh. Ben, see you in the next episode.
Thank you Adam. See ya.
Thanks for tuning in to Worth The Waite. If you enjoyed the podcast, please be sure to share with a friend and don't forget to hit that subscribe so you won't miss an episode and all my local property tips, updates, and insights. Until next time, I'm here when you need.