Anyone Buying in Brisbane..

W

willair

Just wondering if anyone has purchased a property in Brisbane lately,i have been trying to help my daughter find a property on inner southside
for about 2 months now,2 offers on paper fell over most properties have several offers and anything with future development or just been rezoned
are priced with rezoning and development in mind,plus looking over all the rates bills that come in this time of year all the land values have gone up in value maybe it's time for Brisbane..imho..
 
Yes, well trying to, I think the low end the horse has truly bolted,

as for larger, and development/sub division sites, now is just fine, but getting quite hot
 
yes...bargains from say 12 months ago are pretty scarce nowadays...just need to get in close to or at asking price....brisbane still has a long way to go IMO so even at reasonable asking prices, is still worth it if fundamentals are still there.
 
Truly Exotic said:
Yes, well trying to, I think the low end the horse has truly bolted,

as for larger, and development/sub division sites, now is just fine, but getting quite hot
Click to expand...

Maybe anything that has been rezoned is priced in line with the market,and it does not help when you find something ask the question then be told they already have several offers around the asking price,some cash offers just have to wait and see and this is from Agents that have been in the game for 40 years they don't need to tell porkies,but the last time Brisbane on the inner southside started to move it was 10k per month in value rise,and that went on for several years then sideways now it well may start again..imho..
http://www.matthewsrealestate.com.au/properties/residential/House-Qld-Moorooka-117410731
 
willair said:
Maybe anything that has been rezoned is priced in line with the market,and it does not help when you find something ask the question then be told they already have several offers around the asking price,some cash offers just have to wait and see and this is from Agents that have been in the game for 40 years they don't need to tell porkies,but the last time Brisbane on the inner southside started to move it was 10k per month in value rise,and that went on for several years then sideways now it well may start again..imho..
http://www.matthewsrealestate.com.au/properties/residential/House-Qld-Moorooka-117410731
Click to expand...

thats what im trying to work out, is brisbane going through a typical cycle or is it going to be a boom like west sydney

I predict that the growth % will be higher then of melbourne, but obviously prices wont get to the same as to melbourne or near it, but will probably close the gap,

and who knows what Melb vs Bris will be like in 20 years time

Id be buying in Bris then Melb all things being equal at this point in time
 
Truly Exotic said:
what are you figures on this one? they dont seem to quite work out according to my 2 min analysis
Click to expand...

Hard to say,my daughter plan is to live in the property and rent the extra rooms out,and just sit on the property,plus what ever she has saved we are going to match the amount ..

She started looking at flats in that area from 325k upwards,was not happy with the prices and the value,it has taken me a while to explain with properties like the example I posted will do over a 3-5 period,plus the target market in what I,m trying to find for her is very tight..

In the small inner city street we live in every day there are several RE cards in the letter box the do not enter signs stops most people,,asking if we want to sell,or know someone who wants to sell,, have not seen that for the last three years but it may be the start of a slow winding of prices going upwards..imho..
 
Just keep grinding at it, its all about timing and circumstance.
We've found that failed auctions or properties that have had contracts fail are good places to start.
Just be very ready to move, ie have pre-approval/solicitor etc.
Also have found it helps by telling the agent that we are investors and this isn't our first time( smooth deal etc)
 
From what I see through my practices

- less of the 4-6 development sites at the moment
- more of the 20-60

It is still growing but people are not making stupid offers or offering cash unconditional on the first day it goes online. Plenty of interest around.

Earlier this year I was starting to get worried that there was going to be an explosive boom and it will die again by the new year. Now I am more comfortable to suggest that we are on the steady upswing on the cycle.
 
RPI said:
From what I see through my practices

- less of the 4-6 development sites at the moment
- more of the 20-60

It is still growing but people are not making stupid offers or offering cash unconditional on the first day it goes online. Plenty of interest around.

Earlier this year I was starting to get worried that there was going to be an explosive boom and it will die again by the new year. Now I am more comfortable to suggest that we are on the steady upswing on the cycle.
Click to expand...
Thanks for the info,but just a simple question with development sites of the 20-60 range what price range would something like that be inside the 10klm inner ring from the cbd out ,,as with the small 4-6 sites I agree most in the small area I'm looking in seem to sell very fast and just below asking price..imho..
 
cu@thetop said:
http://www.realestate.com.au/property-house-qld-graceville-117181079

That went for $515,500 at auction last week. Structually OK but needed cosmetic reno. Great little investment property. Excellent street.

I felt the price was 30 k less than it would have been a few months ago. Just sayin.
That lot had minimal redevelopment potential I should add.
Click to expand...

Just looking at the flood maps in that area,,a lot of the stigma from the 2011 floods still hangs over that small area,but you would have a better idea then most as you see what comes through your legal business each week..thanks every little bit of data helps..
 
willair said:
Just looking at the flood maps in that area,,a lot of the stigma from the 2011 floods still hangs over that small area,but you would have a better idea then most as you see what comes through your legal business each week..thanks every little bit of data helps..
Click to expand...

No Probs. That one was not flood affected.
This one is coming up tomorrow:
http://www.realestate.com.au/property-house-qld-graceville-117252599
Great flood free street in a prestige area. The Allardyce street was UCV of 370k, this one is $410k.
I haven't looked at this one but sometimes I go on UCV of land as a rough guide- especially in older houses. This one is probably not character protected so it could be a knockdown. On UCV comparative values to last weeks auction this one tomorrow should fetch at least $571k. It's on at 10am so I may not be out of bed but if I am I'll report back. Doubt if I will be bidding and I expect competition will be stiff as everyone hunts for a highside bargain.
 
cu@thetop said:
No Probs. That one was not flood affected.
This one is coming up tomorrow:
http://www.realestate.com.au/property-house-qld-graceville-117252599
Great flood free street in a prestige area. The Allardyce street was UCV of 370k, this one is $410k.
I haven't looked at this one but sometimes I go on UCV of land as a rough guide- especially in older houses. This one is probably not character protected so it could be a knockdown. On UCV comparative values to last weeks auction this one tomorrow should fetch at least $571k. It's on at 10am so I may not be out of bed but if I am I'll report back. Doubt if I will be bidding and I expect competition will be stiff as everyone hunts for a highside bargain.
Click to expand...

I know that street,maybe a bit above my daughters budget and one would think just that location on the right side of the railway line would have a few bidders on the day very up-market location that street "OLD-MONEY"..
 
It varies greatly by suburb, city view, planning issues as well as lifts, basements etc.

have paid as low as $30k a box for townhouse sites but that is having to overcome some pretty serious planning issues that can cost you another $30k a box in engineering and roadworks compared to a site around the corner.

Prices below are Raw (as in no DA) and fairly straight forward and based on average 2 bed unit of around 80m2 internal space.


5 storey with basements on a 1200m2 block might go at $65k a box in Cannon Hill, so a 32 unit site might cost you $2.08m. If it was a 32 unit site that was walk up and with grade parking you could hit $90k a box. Same site in Coorparoo with City views would be $120k a box for walk up. In Bulimba you might get $200k or more in Bulimba.

You are also getting some people paying crazy prices on the smaller ones.
 
It seems people are falling over themselves to buy a splitter block with a house down the middle.

A lot of the prices are more than what the 2 blocks woulb be worth individually.

All you are really getting is two crap blocks of 10 * 40??

Whats the history with the block sizes in brissy, those 405 blocks are ridiculous
 
RPI said:
It varies greatly by suburb, city view, planning issues as well as lifts, basements etc.

have paid as low as $30k a box for townhouse sites but that is having to overcome some pretty serious planning issues that can cost you another $30k a box in engineering and roadworks compared to a site around the corner.

Prices below are Raw (as in no DA) and fairly straight forward and based on average 2 bed unit of around 80m2 internal space.


5 storey with basements on a 1200m2 block might go at $65k a box in Cannon Hill, so a 32 unit site might cost you $2.08m. If it was a 32 unit site that was walk up and with grade parking you could hit $90k a box. Same site in Coorparoo with City views would be $120k a box for walk up. In Bulimba you might get $200k or more in Bulimba.

You are also getting some people paying crazy prices on the smaller ones.
Click to expand...

Also Darryl while your watching

What are your thoughts on Redlands council future planning?

We have a 1400sqm block in birkdale close to birkdale fair and over the road from the rail.... about 300 metres from the actual station.
So far all we can do is a battleaxe and the minimum rear block size is 800sqm!

Was considering doing this and selling the front block but keep thinking if i do this i will kick myself in 10 - 15 years
 
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