18 July 2017

Idalia – Top Price Property Winner Of The Week – 15 Edgewater Terrace – $1 Million

This week’s winner – 15 Edgewater Terrace Idalia
Idalia has achieved a million dollar sale and 15 Edgewater Terrace has delivered. For many in Sydney and Melbourne and other southern capital cities tuning into this local good news story, you might be thinking what is all the fuss about?
This result is a daily occurrence in southern markets but a seven figure sale of a residential dwelling in Townsville is uncommon. So yes to our southern and international friends, it is a big deal in North Queensland and the vendor should be justifiably celebrating with a couple of long glasses and a fine blend of Australian Champaign.

Pop the cork to one and all in Idalia and the rest of the city because progressive sales like these benefit the entire market and the real estate industry as a whole. It’s the greater Australian dream for home sellers. Buying our first home is the great Australian dream. But going beyond the million dollars psychological belief barrier is even greater again.

As we all strive for financial independence and security at some stage in our lives, crossing this threshold is a moment to behold for astute investors and professional consultants alike. Not too many get to boast of the million dollar dream coming to reality and truely able to claim the company of other elite professionals.

But for the property consultant responsible for the marketing plan on 15 Edgewater Terrace, Ms. Karyn Voevodin from McGrath Estate Agents, achieving such an awesome outcome brings much joy, intra-office praise and industry accolades.

Delightful, astute and humble, for Ms. Voevodin the main prize, however, is achieving record outcomes for the home owner and sharing the joy with the buyers to whom she gives hard earned service. We’ll hear more from Ms. Voevodin shorty.
Image: Front aspect of 15 Edgewater Terrace Idalia
Photo thanks: McGrath Estate Agents

In the meantime, back in Idalia the location is a non-coastal suburb boasting a median house price below $350,000. Although we are featuring a $1 million dollar property here to you today, achieving the market benchmark price is the envy of the majority of owners and sales professionals. 15 Edgewater Terrace has well and truly surpassed this market yardstick.
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 the homes are designed to executive standard with large floor areas, ensuites, 4 bedrooms and quality finishing.
This week’s residential property Top Price Winner of the Week has all of the features families have come to enjoy and need space, comfort, convenience, and security.
The property sold for a cool $1 million which is $590,000 above the current median house price at $410,000 for the suburb.
If it were not for this positive price outcome in properties of this calibre, stimulating improvements to Idalia’s less than impressive 23 percent drop in median house prices since Dec 2015 would be like pushing a billy cart up the local landmark of Castle Hill.
Image: Master bedroom at 15 Edgewater Terrace Idalia
Photo thanks: McGrath Estate Agents
With signs the Townsville prices are moving ever so slightly in a positive direction, Ms. Voevodin said, “the property outlined the limited amount of good quality high-end stock available in the residential suburb of Idalia and has a handful of buyers still looking for their dream home.”
“For the first time in over two and half years we see a sale of a million dollars in Idalia,” the property consultant said.
Certainly, no shrinking violet when it comes staging and marketing ‘Top Price Winner of the Week’ properties, the property consultant has featured in TREN eMagazine for the second time in as many months.
In our request for an interview with Ms. Voeviden, we asked, before she shared with enthusiasm her story about the property, what would be her number one tip for sellers aiming for the best sale result in the market?
Ms. Voevodin said; “This sale shows that there is money to be spent in this market.”
“It is imperative that sellers invest on the right styling and marketing to make sure they get top dollar and capture every buyer currently looking,” Ms. Voevodin remarked.
The property

We asked Ms. Voevidin to share her story about the property. This is how she describes it.
“Architectural brilliance is a lakefront location embracing a magnificent water front setting, this prominent expansive double storey home is designed to an absolutely exquisite standard showcasing high-quality finishes throughout, providing ample room for the family.
Image: Foyer staircase at 15 Edgewater Terrace Idalaia
Photo thanks: McGrath Estate Agents
The mains features of the property included:
  • Timelessly sophisticated home with impressive lake views
  • luxury stone bench top kitchen
  • Miele appliances and butler's pantry
  • Tasmanian Oak timber floors with staircase that feature in the home
  • Opulent private master ensuite, spacious walk in robe and spa ensuite
  • Breathtaking views of the lake from all of the oversized bedrooms
  • Theatre room, workshop, copious storage and vuccumaid included
  • Undercover patio overlooks the sparkling in-ground pool, with spa
  • Set in a wonderful street with great neighbours and quality homes
  • Centrally located only 10 minutes to the CBD, and Townsville Hospital
  • Close to schools, hospital, university, sports grounds and shopping

“The impressive home attracted a huge amount of interest with its sensational facade and irreplaceable lakefront location.
“Designed by local architect, Dan Thompson and built by local builder, Graeme Ramsbottom, this home is like no other. The home is split over two levels with the ground level showcasing a theatre room, open plan lounge and dining room, fourth bedroom and stunning kitchen.
“Upstairs via the grand red ash timber stair case are two more bedrooms with walk in robes and the main bedroom, and then you discover the master suite. This room epitomises luxury with a spa ensuite and large walk in robe with its own private balcony with stunning views over the lake.
“The lower deck adjoins the family living room and overlooks the spa, in ground pool and landscaped gardens. The home offers views from every bedroom, however, the view from the deck is like nothing else – breathtaking!
“This home attracted a range of strong interest locally and interstate and was sold within days of being listed, Ms. Voevodin concluded.
Investment profile

TREN’s research has identified that the suburb of Idalia has 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 population increased to 4438.
The 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.

Image: Google Map of Adalia Townsville

The suburb has a current median house price of $410,000, down approximately 10 percent from $460,000 over 12 months ago. Units in Idalia have a median unit price of $240,000 down a massive 40 percent over the past 12 months from $405,000.
The sale price achieved for this property of $1 Million will have a positive impact on the median house prices in Idalia as it exceeds the current median house price for the suburb. Approximately 65 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.
Image: Bathroom at 15 Edgewater Terrace Idalia
Photo thanks: McGrath Estate Agents
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. The chimney of the old meatworks has been retained. The meat works have now been demolished. 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 800 metres walking distance of this property which was established as a new school in 2002. Southern Cross Catholic School is 2.1 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 housing sale prices have reduced by nearly 10 percent and unit prices have reduced by nearly 40 percent.
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