Brisbane Bayside: North (Sandgate, Shorncliffe) vs South (Manly, Wynnum)

[Angel]

Sorry Azazel, I should say for a person suggesting it's not a good idea to be buying in Brisbane/Qld, there isn't any growth drivers, no population growth etc. What are you saying, again?

 

[Azazel]

Sorry Azazel, I should say for a person suggesting it's not a good idea to be buying in Brisbane/Qld, there isn't any growth drivers, no population growth etc. What are you saying, again?

Don't be sorry. You're saying you've been reading all of my posts, and rating them from least interesting to most interesting and you've judged that one as my most interesting post for this year? That's odd.

 

[Angel]

I'm a very odd person
All your posts are interesting and good to read, this one stands out though. Have a great day.

 

[hugh72]

Don't be sorry. You're saying you've been reading all of my posts, and rating them from least interesting to most interesting and you've judged that one as my most interesting post for this year? That's odd.

Definitely most interesting, what happened to skeptical about ......

 

[Azazel]

I'm a very odd person
All your posts are interesting and good to read, this one stands out though. Have a great day.

Haha, that's more like it.
I'll cherry pick one of my recent comments from the 'Does Brisbane still stack up?' thread: "Probably perfect timing for that area 18 months ago, well done.
There has been significant growth in most inner North/Northwest suburbs.
Still some good buys if you know what you're looking for."

 

[Azazel]

Definitely most interesting, what happened to skeptical about ......

Posting in the 'sceptical about QLD' thread? What did you expect to find in there? Rainbows and lollipops?
Most of the stuff I've posted is numbers. I didn't create those numbers. I'm not sure why people get their noses out of joint about numbers. They are what they are, whether it's auction clearance rates or unemployment.

This still sums up my opinion:
http://somersoft.com/forums/showpost.php?p=1285442&postcount=63

http://somersoft.com/forums/showpost.php?p=1323071&postcount=185

 

[hugh72]

Posting in the 'sceptical about QLD' thread? What did you expect to find in there? Rainbows and lollipops?
Most of the stuff I've posted is numbers. I didn't create those numbers. I'm not sure why people get their noses out of joint about numbers. They are what they are, whether it's auction clearance rates or unemployment.

This still sums up my opinion:
http://somersoft.com/forums/showpost.php?p=1285442&postcount=63

http://somersoft.com/forums/showpost.php?p=1323071&postcount=185

No noses out of joint, everyone is entitled to their opinion and I like reading yours. Interesting nevertheless.
I'm not actually looking to buy in BN presently as land tax is starting to be a problem.

 

[Azazel]

No noses out of joint, everyone is entitled to their opinion and I like reading yours. Interesting nevertheless.
I'm not actually looking to buy in BN presently as land tax is starting to be a problem.

Thanks, I like yours too, all good!
Are you looking at a different state, like Adelaide? Looks like there could be some bargains there, I've had a bit of a look but have no idea, besides the threads on here.
Sorry, got a bit off topic there. Go Seagulls!

 

[see_change]

No noses out of joint, everyone is entitled to their opinion and I like reading yours. Interesting nevertheless.
I'm not actually looking to buy in BN presently as land tax is starting to be a problem.

Why is land tax a problem ?

We've held 15 ip's in Queensland in the past and never paid land tax . Currently aiming for more . One question we're grappling with at the moment is do we have one ip only in each trust . Current land value around 100k . If we buy 2 per trust , and prices double that will take each trust over the thresh hold . We're planning on selling some , but you never know

Each trust has a seperate land tax threshold at 350 k

Cliff

 

[hugh72]

Why is land tax a problem ?

We've held 15 ip's in Queensland in the past and never paid land tax . Currently aiming for more . One question we're grappling with at the moment is do we have one ip only in each trust . Current land value around 100k . If we buy 2 per trust , and prices double that will take each trust over the thresh hold . We're planning on selling some , but you never know

Each trust has a seperate land tax threshold at 350 k

Cliff[/QUOTE
Land vaues in BBC area are around this threshold
Probably need a better accountant, earlier purchases land values over 400k each now and despite them being in individual and joint names it becomes quite a problem fairly quickly. Might have to look at trusts, I was advised that compliance costs etc would limit benefits. Maybe it works better for cheaper properties or villas/ townhouses/ units etc? My main reason for not buying anymore there presently is to increase diversification. Watch lots of assets losing value in real terms relative to inflation for about 5 years confirmed in my mind that a better geographical spread might be better. Values have improved recently thankfully but so have those BCC land values thence the problem

 

[Azazel]

Which suburb did you go for IP or PPOR?

Out of interest

IP, might retire there one day PPOR can wait for now.
Not being evasive, only just got the signed contract back from the owners so taking other people's lead here on waiting until it's definite before going into details.

 

[jerrybee]

IP, might retire there one day PPOR can wait for now.
Not being evasive, only just got the signed contract back from the owners so taking other people's lead here on waiting until it's definite before going into details.

It's not done till it's done. Anything can go wrong right up until settlement. I always keep it quiet until settlement

 

[Azazel]

It's not done till it's done. Anything can go wrong right up until settlement. I always keep it quiet until settlement

Yeah, it's good fun refinancing at the moment too!

 

[jerrybee]

yeah, it's good fun refinancing at the moment too!

 

[see_change]

main reason for not buying anymore there presently is to increase diversification.

Watch lots of assets losing value in real terms relative to inflation for about 5 years confirmed in my mind that a better geographical spread might be better.

Values have improved recently thankfully but so have those BCC land values thence the problem

You need to look at a couple of things . The timing of your buys . Five years ago Brisbane was close to its peak as Sydney is now . We didn't buy in Brisbane then . We bought is Sydney from 2009 - 2013 . We're buying in Brisbane from 2013 onwards .

I'd prefer to get my timing correct rather than buy in multiple different areas .

To me , buying in multiple different areas to spread the risk , means you're not doing enough dd in other areas .

We buy in different areas , but generally at different times , though we might break that rule at the moment as there are more than one places I think are worthwhile buying in at the moment .

Cliff

 

[hugh72]

You need to look at a couple of things . The timing of your buys . Five years ago Brisbane was close to its peak as Sydney is now . We didn't buy in Brisbane then . We bought is Sydney from 2009 - 2013 . We're buying in Brisbane from 2013 onwards .

I'd prefer to get my timing correct rather than buy in multiple different areas .

To me , buying in multiple different areas to spread the risk , means you're not doing enough dd in other areas .

We buy in different areas , but generally at different times , though we might break that rule at the moment as there are more than one places I think are worthwhile buying in at the moment .

Cliff[/QUOTE
Our original purchase in BN was in the 90's , Hinsight would be nice but time tends to smooth over mistakes. We have bought every couple of years.
2008 was 12 months too late in BN but at the time prospects still seemed reasonable although events overseas prior to the GFC indicated a downturn was possible.
The 2011 flood was a black swan event, yes it had happened before but since the construction of new dams in the 70's no one thought anything like this would happen again on a nice sunny day. It will take the market a long time to totally recover. Even now every second thread on BN talks about flooding in locations many kms from the BN river.
I now try and look for value with reasonable prospects while still holding existing stock in different regional and capital city locations.
Should have bought in SYD in 2011-12 but wasn't smart or nimble enough unfortunately
I have always been long term buy and hold but trying to catch a wave might be more effective
Maybe I need to follow your formula

 

[natedog]

IP, might retire there one day PPOR can wait for now.
Not being evasive, only just got the signed contract back from the owners so taking other people's lead here on waiting until it's definite before going into details.

No problem, I understand, all good

 

[see_change]

You need to look at a couple of things . The timing of your buys . Five years ago Brisbane was close to its peak as Sydney is now . We didn't buy in Brisbane then . We bought is Sydney from 2009 - 2013 . We're buying in Brisbane from 2013 onwards .

I'd prefer to get my timing correct rather than buy in multiple different areas .

To me , buying in multiple different areas to spread the risk , means you're not doing enough dd in other areas .

We buy in different areas , but generally at different times , though we might break that rule at the moment as there are more than one places I think are worthwhile buying in at the moment .

Cliff[/QUOTE
Our original purchase in BN was in the 90's , Hinsight would be nice but time tends to smooth over mistakes. We have bought every couple of years.
2008 was 12 months too late in BN but at the time prospects still seemed reasonable although events overseas prior to the GFC indicated a downturn was possible.
The 2011 flood was a black swan event, yes it had happened before but since the construction of new dams in the 70's no one thought anything like this would happen again on a nice sunny day. It will take the market a long time to totally recover. Even now every second thread on BN talks about flooding in locations many kms from the BN river.
I now try and look for value with reasonable prospects while still holding existing stock in different regional and capital city locations.
Should have bought in SYD in 2011-12 but wasn't smart or nimble enough unfortunately
I have always been long term buy and hold but trying to catch a wave might be more effective
Maybe I need to follow your formula

My timing is fairly simple . the cycles are fairly predictable . as a rule of thumb Sydney then Melb then the rest follow .

I also look at the ten year average . In around 2009 , sydney was the bottom performing .

Last time I looked the bottom was a toss up between Brisbane , Adelaide and Brisbane . Perth and Darwin are near the top and coming down

I've got some properties I'll hold long term , but I like to buy when I'm going to see reasonable growth in the next few years.

The Mantra , any time is a good time is a mantra for property developers who want to sell their properties when it's a bad time .

If you buy and hold for 20 years most things will make money , but timing can fast track your growth.

Cliff

 

[Logan]

Manly is considerd the blue chip bayside suburb , I understand shorncliffe has some pretty expensive suburbs .

We bought manly Wynnum . Looked at Brighton Sandgate , but SWMBO preferred manly Wynnum .

Cliff

Cliff,

I have just stumbled upon Wynnum and Wynnum west in my IP search. I see that you have at least one IP in the area, are there any street you would avoid ? the area looks like good value with desirable houses on a reasonable yield.