Does Brisbane still stack up?

Yes and a very lonely one as well by the looks of it

Happy to be persuaded if you have some numbers for population increasing, employment rising, auction clearance rates improving, time on market reducing... I see the opposite evidence at the moment.
 
Happy to be persuaded if you have some numbers for population increasing, employment rising, auction clearance rates improving, time on market reducing... I see the opposite evidence at the moment.


Auction clearance rates up to 56% this week.

Time on market has reduced 7 days (56) compared to (63) one year ago (I've lost the source).


Definitely not arguing your point beyond this, I enjoy your posts, even if I have nearly 2 million reasons not too.
 

Attachments

  • auction.jpg
    auction.jpg
    164.3 KB · Views: 113
Depends which source I spose, this one has 48%:

175 auctions is a tiny sample size, Can you really draw anything useful from these stats other than there aren't that many auctions in Brisbane?

In terms of growth moving forward the construction industry is really picking up in Brisbane at the moment have a look around Newstead, South Brisbane, West End etc and its just cranes everywhere. A developer we're working for at the moment managed to sell 200+ units in 72 hours after release. I think in another 12 months Brisbane will be looking similar to Melbourne in terms of the amount of construction going on in the CBD. Smaller developers might even come up to Brisbane as they get priced out of the Sydney/Melbourne areas.
 
175 auctions is a tiny sample size, Can you really draw anything useful from these stats other than there aren't that many auctions in Brisbane?

I take it from your post count that you missed this 2 pages ago:

According to this article from 2010:

"Between the beginning of last year and October 10 this year Brisbane had, on average, about 109 auctions per week.

Melbourne typically has more than 580 auctions a week and Sydney has about 445."

http://www.couriermail.com.au/lifes...-rates-well-down/story-e6frequ6-1225942425096

So well above what is typical. 175 compares pretty well with Sydney's typical 445.
175 is also more than every other capital except Sydney and Melbourne. Why would they follow auction clearance rates for every city? Good question.
 
Great point....call up land developers in Melb...and see if they have stock to build.....

I take it from your post count that you missed this 2 pages ago:

According to this article from 2010:

"Between the beginning of last year and October 10 this year Brisbane had, on average, about 109 auctions per week.

Melbourne typically has more than 580 auctions a week and Sydney has about 445."

http://www.couriermail.com.au/lifes...-rates-well-down/story-e6frequ6-1225942425096

So well above what is typical. 175 compares pretty well with Sydney's typical 445.
175 is also more than every other capital except Sydney and Melbourne. Why would they follow auction clearance rates for every city? Good question.
 
I take it from your post count that you missed this 2 pages ago:

According to this article from 2010:

"Between the beginning of last year and October 10 this year Brisbane had, on average, about 109 auctions per week.

Melbourne typically has more than 580 auctions a week and Sydney has about 445."

http://www.couriermail.com.au/lifes...-rates-well-down/story-e6frequ6-1225942425096

So well above what is typical. 175 compares pretty well with Sydney's typical 445.
175 is also more than every other capital except Sydney and Melbourne. Why would they follow auction clearance rates for every city? Good question.

Ah.... I think we have done this before but I'll try again. Rp Data.......
Week ending 31st May Brisbane 175 auctions
Sydney 1030 auctions
Melbourne 1154 auctions
Days on market, stock on market and vendor discount are compareable metrics, auction clearance rates in a city where very few properties are auctioned is not.
 
Unsure how post count is relevant. So are you saying an average from 2010 is relevant to data from last week?

My point is the same as others have pointed out in a city where auctions aren't the norm it seems silly to use that data as a measure especially with such small sample sizes compared to melb/syd.
 
Two of the best prices I've seen in recent memory have been from an auction. You don't see that in Sydney, where it's quite the opposite. People in Brisbane just don't like them and they can be a good way to snag a bargain.
 
People tend to get a little touchy when you mention their pet suburbs ;)
But I would say any suburb that has recently experienced significant gains and is well above it's previous peak.

Personally if you mentioned the ones's I'm looking at and it dropped the market it would only make my job easier .

However I don't think that would happen as I don't think many people actually listen to you .

If anything , I tend to listen to the negative recommendations for the perma Bears as a reasons to look at a suburb .

As a group you tend to get things , just ...

So wrong ..:D


Cliff
 
I've been trying to get a 3/2/2 or 4/2/2 in the middle/inner north (chermside, aspley, mcdowell, ferny hills etc) through a buyers agent from interstate since late last year. Very hard to get anything under what is being asked for. ie. Put an offer in on a house in Aspley that was $619,000+ at $605,000 with supporting evidence as to why I was bidding at that price and it ended up selling for $649k. This is happening ALL THE TIME and anything new that is decent seemingly has offers on it within the first day or two. Just my experience. The search goes on :mad:
Went to this one at the weekend and they will look at offers before auction. Looks like it may sell below what it should sell for. I own one a few streets away which is a lot worse.
http://www.realestate.com.au/property-house-qld-chermside-119947585
Don't want to say its a bargain but looks like good buying in a good location.
 
Personally if you mentioned the ones's I'm looking at and it dropped the market it would only make my job easier .

However I don't think that would happen as I don't think many people actually listen to you .

If anything , I tend to listen to the negative recommendations for the perma Bears as a reasons to look at a suburb .

As a group you tend to get things , just ...

So wrong ..:D


Cliff

You can put a smiley face and still be rude.
 
Last edited:
Ah.... I think we have done this before but I'll try again. Rp Data.......
Week ending 31st May Brisbane 175 auctions
Sydney 1030 auctions
Melbourne 1154 auctions

Brisbane - 175 auctions. Correct. That's the exact number we were quoting above.
Brisbane average 2010: 109
Sydney typical 2010: 445
Melbourne typical 2010: 580

So yes, you are right. They are all well above their 'typical' or 'average' from 2010.

For the populations, you don't think 175 for current Brisbane compares with 445 for Sydney in 2010?

A different source, this data for Brisbane last week had 209 auctions (52.1% clearance rate):
 

Attachments

  • auction1.jpg
    auction1.jpg
    79.3 KB · Views: 91
Unsure how post count is relevant.

Since you had 3 posts, I assumed the reason you missed that link from 2 pages ago was because you are a new SS member.

My point is the same as others have pointed out in a city where auctions aren't the norm it seems silly to use that data as a measure especially with such small sample sizes compared to melb/syd.

As above, for the populations, you don't think 175 for current Brisbane compares with 445 for Sydney in 2010?
 
Days on market, stock on market and vendor discount are compareable metrics,

In any of the actual numbers, I can't find anything that jumps out that would answer the thread title with a yes at the moment:

Time on market (houses):

Canberra 31 days
Hobart 56 days
Adelaide 61
Brisbane 64 days

Average vendor discount (houses):

Canberra 3.3%
Brisbane 5.5%
Adelaide 5.6%
Hobart 6.5%
 

Attachments

  • tom.jpg
    tom.jpg
    100.1 KB · Views: 87
You can put a smiley face and still be rude.

Just giving you my honest opinion .

I do the same to hobo jo . He gives me his honest opinion straight back :cool: I have respect for him as a person even though I disagree with much of what he says .

No need to get emotional just because you don't like what someone has said .

I've been on this forum for over ten years and seen Bears come and go . You are just one in a long line

When things are good the Bears say it will bad .

When things are bad , we are facing the end of the civilised world as we know it ( well maybe that's an exaggeration ) ..

Guess what ? ....

They've never been right ...

Oh , by the way , I don't believe that markets only go up . They go up , they go down .

I wouldn't buy in sydneyat the moment , but would look at Brisbane and a couple of other places .

Cliff
 
Just giving you my honest opinion .

Saying I'm wrong in large bold text doesn't make it honest. I'm posting actual numbers. I didn't create these numbers. You might not like the numbers for whatever reason, but that doesn't make me wrong.

I've been on this forum for over ten years and seen Bears come and go . You are just one in a long line
When things are good the Bears say it will bad .
When things are bad , we are facing the end of the civilised world as we know it ( well maybe that's an exaggeration ) ..
Guess what ? ....
They've never been right ...

So you're reading my posts with someone else in mind, and reading things into it that aren't there. No worries.
I'm not being negative for the sake of being negative. I've been familiar with the Brisbane market since 2004. If you can show anything in the numbers at the moment that suggests a 'yes' for the thread title, happy to look at it.
In the absence of that, I'll give you the same credit you gave me and assume you're suggesting that irrationally going with the herd/RE magazines/spruikers just because "it's time for Brisbane!" is the sensible thing to do.
 
In the absence of that, I'll give you the same credit you gave me and assume you're suggesting that irrationally going with the herd/RE magazines/spruikers just because "it's time for Brisbane!" is the sensible thing to do.

Actually , yes ... But I'd disagree it's irrational .

First . there are reasons why so many people are saying it .

Second. I'm a great believer in herd mentality , and have great faith in the ability of the herd to move a market .

In fact , if you only have a small number of people buying you won't have market movement ........

So from my perspective if the herd ain't interested in an area , it's unlikely to move .

It's a basic fundamental from share market trading via a technical analysis approach and my observation is that it applies to property as well as shares .

My observation is that opinion on somersoft is a leading indicator to what is likely to happen .

Hence multiple past references to the " somersoft leading indicator " .

The forums been taking about Brisbane for a while with numerous members buying central and in other places over the last couple of years that I've been aware of .

Time frame ?

Don't know . I'm buying with the expectation of significant movement in the next five years and worst case scenario ten years.

BUT, most times I've put a time frame on things Ve been wrong . Markets have moved sooner and further than I've expected , so I wouldn't be surprised to see significant moves in Brisbane in the next 1-2 years .

Cliff
 
Back
Top