Brisbane surely is a bargain.

mattnz said:
Actually, I have plenty of property and am developing more, just not in main centres, but where there is real value and rental yield to support the prices in those areas.

In regards to distances from main cities, we are talking about locations similar to Sutherland and the Northern beaches. What would you be paying for similar houses in these locations $1-2M+?
Click to expand...

Matt I as a whole agree with your posts but just because a property or area doesn't have a high rental yield doesn't mean it isn't real value. If you get a property in a top spot at the bottom of the market or before the area is revalued then your capital gains are going to represent pretty good value for money.
There will always be demand for inner city or beach suburbs near major cities but there might not be for towns with large mining operations.
Having said all this the soul IP I own is in Whyalla. Next place I will be looking is Brisbane, hope the prices stay down for a little while yet though!
 
mattnz said:
The first one is in a suburb of Atlanta, a similar sized city to Sydney.

The fourth one down is in Portland, Maine, population 500,000, larger than Canberra.
Click to expand...

Salaries need to support the cost housing though. I've looked in my particular profession and I'd be taking a 40K plus pay cut to work in the US. Now I also know min wage is much lower as well.

So housing might be cheaper, but is it any more affordable?
 
Demographia has Sydney as the 2nd worst house to income ratio at 9.7, Atlanta has the 2nd best at 1.9 times median income.

Really not even a close competition.

Your $1 million house would be $200k in Atlanta, so you don't really care that your salary drops by $40k, especially when your levi jeans cost $30 instead of $150 and your petrol costs half of what it does in Australia. Sydney is just a really expensive city to live in.

Sell your $1 million house with 20% equity and $800k loan, buy the equivalent house and be debt free in Atlanta :)
 
Currently about 9.6% unemployment.

Why would you want a JOB when there is great money to be made in real estate investing there?

Your aim in investing is to get away from having a JOB. Just in countries like Australia, this is hard to do due to high real estate prices and low yields.

With some amount of intelligence a good investor could easily replace a job income with passive investment income.
 
Was speaking to anarchitect on the weekend who lives on the Gold Coast and he said expectationn on the ground is that now with the change of government the Gold Coast(and Iwould imagine Brisbane too) will start to move again
 
fernfurn said:
Was speaking to anarchitect on the weekend who lives on the Gold Coast and he said expectationn on the ground is that now with the change of government the Gold Coast(and Iwould imagine Brisbane too) will start to move again
Click to expand...
It's definitely not 2011 I can say that. Whatever it is likely to become I will let those from macro land prognosticate. Whatever it is at the moment may you please continue forever.. quite happy here :)
 
fernfurn said:
Was speaking to anarchitect on the weekend who lives on the Gold Coast and he said expectationn on the ground is that now with the change of government the Gold Coast(and Iwould imagine Brisbane too) will start to move again
Click to expand...
Has anybody noticed how many cranes are on the Gold Coast skyline at the moment? Remember the saying??
 
So whats the general consences here? Are us brisbane sellers doomed, or will the market pick up again soon? Predictions? Timeframes? We've bought in north lakes having just sold our Sydney property and I'm kicking myself very hard, regretting leaving the Sydney market!
 
Andrew_A said:
Has anybody noticed how many cranes are on the Gold Coast skyline at the moment? Remember the saying??
Click to expand...



There is more than 2008 2009.
I've been noticing something strange in the expensive water front locations and that is that land around a million bucks seems to be getting snapped up and developed with mcmansions. It is not one location either, I've noticed this in several locations.
There is plenty of cheap deals on the Gold Coast at the moment but there has been more competition over the last 3 months, If your not quick they get bought, I missed out on several deals due to other people pumping the price up, I just bought a property the minute the agent got the listing and the agent still showed people the property while I had it under contract and several back up contracts ended up being put on the property, the seller even had an email sent to my solicitor asking if I would like to terminate the contract due to a small mistake that was made in the contract, It was really nothing that required the contract to be terminated but the seller still tried and I said No, obviously a better offer came to the table.
I'm talking about the average priced properties now around $300,000 to $500,000.
 
Hopefully this means that within 2 yrs the market will be back on track, if we are at the very bottom of the cycle ATM? does anyone know the actual percentage of loss we've had since the loss?
 
Price drops in Brisbane past 4 years

Different places had different rates of losses. "Average" for Brisbane quoted a few weeks ago by Steve McKnight was 9.something percent overall.

I can tell you anecdotally that some locations have dropped from $500K to $400K for an older 3/1/2 within 10 klms of the CBD. I personally look north and west, The Gap to Albany Creek, just because that is where I spend all my time (no hot tips here). That is more like 20%.

The Agent who sold us our North Lakes property in 2010 said in March that it would have dropped about 5% in that time, which isnt much really. Personally I do not consider NL to be 'Brisbane". I call it regional, but others call it outer Brisbane.
 
rookie101 said:
Hopefully this means that within 2 yrs the market will be back on track, if we are at the very bottom of the cycle ATM? does anyone know the actual percentage of loss we've had since the loss?
Click to expand...

The percentage varies from place to place, from market segment to market segment, from suburn to suburb, from ... you get the picture.

At the end of the day, I'm mainly concerned with the performance of my own properties.
 
image19.jpg
http://www.realestate.com.au/property-house-qld-river+heads-109853676
not bad for 499k much easier to finance an Australian property then a USA property full of sharks
 
james_w said:

not bad for 499k much easier to finance an Australian property then a USA property full of sharks[/QUOTE]

Maybe that says it all. You're more likely to get a bargain in a place where its hard to finance than one where its easy to get finance. Lets not forget that easy finance was one of the reasons they became cheap in the USA!

And as for future growth, in an easy credit environment the risk to the downside is greater as well. Finance availability can go from easy to impossible in a matter of months.

Having lived recently in both USA and Brisbane I can see plenty of factors to suggest that USA has 20% growth potential but Brisbane the opposite.
Click to expand...
 
You must log in or register to reply here.

Similar threads

E
Which one? Redcliffe, Brighton or Slacks Creek
2
Replies
34
Views
8K
Investor78
I
K
Starter investor seeking advices for investing apartments
2
Replies
20
Views
5K
windyzz
W
D
10km CBD Rule Why?
2
Replies
36
Views
9K
Swearengen
Swearengen
R
Sunshine Coast
Replies
5
Views
2K
Ricky Tarr
R
A
Bad valuation house $ land 12km from BrisbaneCBD
Replies
19
Views
5K
aramz
A
Back
Top