Brisbane - Anectdotal Evidence of Market Changes

RPI

RPI

It's starting to feel like the beginning of the last cycle.

My practice is not a big enough sample to be statistically reliable but this is what I have seen lately.

Conveyancing Practice
A large upswing in:
-conveyancing numbers generally;
-multiple offer notices;
-southern investors; and
-cash unconditional contracts (Today I have seen the 7th for this week, 6 southern investors and 1 os).

My hope is that it is a small upwards trend that is sustainable and will not get out of control and overshoot, but if the above keep increasing I am not so sure.
 
howdy partner. Us southerners are invading your patch and soon ya gonna start seeing prices like ya never believed. Yup, we're cashed up to the back teeth... yeeha! Fancy some possum pie?
 
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Have bought two which I am in the process of settling....but things are now selling in days over in Brissie.....
 
brissie is defintely on the upswing of activity.

Like you, my numbers are only an outlier........Im guessing number of sales will be 20 to 30 % higher than 18 mths ago

ta
rolf
 
A lot of my clients are buying or looking to buy in Brisbane. It's been popular for a little while now.

Cheers

Jamie
 
willair said:
http://www.abc.net.au/news/2014-03-...n-february-sydney-rise-melbourne-fall/5294372

No matter what media streams one watches and the insightfull thinkers that write the headlines to the point of blindness to reality..
Click to expand...

I actually thought the article was fair, it pretty much describes what the stats say. It's also pretty balanced raising the point it's just a small stat adjustment rather than any price fall.

More an issue with reading too much into median price stats on a month to month basis
 
There is a lot of well dressed Real-Estate-Agents driving around in leased 4 door German cars in Brisbane because of what someone writes in a paper,,at the peak in Brisbane a few years ago a Legal person that I have a drink with every now and again employed over 5 Ladies just for property conveyancing he only employs one now,the rest he has let go over the past 5 years,that Solicitor has been in business for a long time was talking to him on the weekend he still only employs one Lady and the property side of his business is still slow so who knows..
 
I agree with you Willair, I'm also of the "who know" stage with the current Brisbane market. It's definitely not as hot as Sydney last year, still good prices to be had and room to negotiate.
 
Alex P Keaton said:
What do you mean by this?

Thanks
Click to expand...

Well last time around at the start of the cycle there was:
1. properties selling quickly;
2. lots of southern buyers;
3. REIQ notices of multiple offer on lots of property.

Progress in to the next stage where the big money comes back in and you can't score a decent block without going in with a cash contract. People start missing out on their preferred locations and so they start to widen the areas they will buy in, and the wave that started in Sydney a couple of years ago has now started flow from Brisbane into surrounding areas and then on to the regional areas.

It's the stage after that which is not so much fun (although can be good for long term holds, most of the short term turnover type stuff is gone).

D
 
willair said:
There is a lot of well dressed Real-Estate-Agents driving around in leased 4 door German cars in Brisbane because of what someone writes in a paper,,at the peak in Brisbane a few years ago a Legal person that I have a drink with every now and again employed over 5 Ladies just for property conveyancing he only employs one now,the rest he has let go over the past 5 years,that Solicitor has been in business for a long time was talking to him on the weekend he still only employs one Lady and the property side of his business is still slow so who knows..
Click to expand...

I would hope there will be less of that this time around than last. There was a swag of young pup agents who had never seen a downturn and thought that was normal, they had some very high leases.

The older agents tend to pick up some cheap rent rolls in that phase though as the over committed flash new office type agents scramble to sell anything of value to stop them going under.
 
Not Brisbane, but some may be interested. I was chatting on the phone to a RE Agent friend in Goodna/Redbank Plains. I was asking him if he's seeing any growth/movement out that way.

He told me that new listings had slowed, so he believes this will slowly push prices up as existing stock is being sold. He tends to think that anyone thinking of selling is holding off listing there property until the market shows more signs of positive movement.

Mystery
 
RPI said:
Well last time around at the start of the cycle there was:
1. properties selling quickly;
2. lots of southern buyers;
3. REIQ notices of multiple offer on lots of property.

Progress in to the next stage where the big money comes back in and you can't score a decent block without going in with a cash contract. People start missing out on their preferred locations and so they start to widen the areas they will buy in, and the wave that started in Sydney a couple of years ago has now started flow from Brisbane into surrounding areas and then on to the regional areas.

It's the stage after that which is not so much fun (although can be good for long term holds, most of the short term turnover type stuff is gone).

D
Click to expand...

Ah Ok I see, thanks
 
jerrybee said:
For those of us who have been checking listings all over Brisbane 3 times a day for the last 12-18 months know it's on the way up. It's more than anecdotal right now.
Click to expand...
One can only hope the last time when it went gangbusters it was going up 10 k per month for several years,but that was the inner 5klms from the cbd
and that was 4-5 good years like it all happened in slow - motion this time around I still don't know-you set the yardstick yourself..
 
mystery said:
Not Brisbane, but some may be interested. I was chatting on the phone to a RE Agent friend in Goodna/Redbank Plains. I was asking him if he's seeing any growth/movement out that way.

He told me that new listings had slowed, so he believes this will slowly push prices up as existing stock is being sold. He tends to think that anyone thinking of selling is holding off listing there property until the market shows more signs of positive movement.

Mystery
Click to expand...

Promising, Mystery. I'll buy a drink if you're right on this :D . This area has been flat for sooo many years!!
 
Edmond Dantes said:
Promising, Mystery. I'll buy a drink if you're right on this :D . This area has been flat for sooo many years!!
Click to expand...
You are not kidding ED - it's been terrible since 07. We've managed to add a heap of equity through development, but otherwise it's been dismal. The performance has caused me to have many drinks ... none of them celebratory as yet .. :p

Mystery
 
starter said:
I agree with you Willair, I'm also of the "who know" stage with the current Brisbane market. It's definitely not as hot as Sydney last year, still good prices to be had and room to negotiate.
Click to expand...

Hi Starter
This is the time to jump in then?? Don't want it hot like Syd otherwise its just so difficult to source property.

Definition of boom - when re agents wont talk to you unless you are a seller.;)

MTR:)
 
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