Login
iscover
A Brisbane CEO has said that resolving Australia’s supply issues will “come down to mums and dads”.
On a recent episode of REB’s Secrets of the Top 100 Agents, Brisbane-based CEO and principal Adam Nobel revealed how his agency is attempting to play a part in addressing the city’s housing crisis.
Since the pandemic, property prices in Queensland have exploded.
“More people have moved to Queensland from interstate than any other state in Australia. We had just over 107,000 people move to Queensland since the beginning of COVID, and prices have actually gone up 55 per cent as well,” Nobel said.
In the aftermath, the Sunshine State is facing a 15,000–30,000 home shortage. At his business, Hugo Alexander Property Group, Nobel shared that properties are regularly sold within seven to 14 days of being listed.
“We’ve seen the work of government and not-for-profits in trying to solve this housing crisis problem, and it really is a real problem and it’s a struggle for them to find a solution,” he said.
“It’s going to come down to mums and dads, to investors, to builders, developers, et cetera, to solve the problem. The government can’t do it on their own.”
One solution that his agency has been turning to lately is rooming house accommodation. Working with a team of architects, builders, developers and investors, Hugo Alexander has developed a suite of studio rooms to rent to “people who otherwise may struggle to have found a home”.
Each room comes with an en suite bathroom and small kitchenette, along with shared living and laundry areas.
At $435 to $480 per week, the studios are slightly more expensive than the median suburb rent for a one-bedroom unit, and are advertised as offering “executive-style living”.
“They’re offering our investors an 8–10 per cent net yield return on investment, so they’re an amazing investment for our clients, and they’re also solving a very real problem,” Nobel said.
Looking forward, the principal expects interest in Brisbane property to continue to grow.
“There’s a really strong energy in the air and entrepreneurial spirit,” he said. “More people are moving from Melbourne and Sydney, and they’re bringing really great businesses with them.”
“I think that we’re going to see more development in the outer ring suburbs, so areas out west in the Ipswich area […] Like we have seen in Sydney and the western suburbs, we’re going to see the same in Brisbane.”
“It’s a really exciting time,” the agent concluded.
Listen to the full conversation with Adam Nobel here.
You are not authorised to post comments.
Comments will undergo moderation before they get published.