Home prices to lead nation

This sort of news is great. Should encourage more people from down south to invest up here and also for current owners to hold for capital gain, reduce supply and therefore drive up prices. Sounds good to me!

I noticed on TV they noted areas such as Redcliffe, Logan and Ipswich to benefit the most from this growth. Flow on effect I guess. I wonder how the capital growth will be long time though? Any thoughts? (I'm not talking about buying or not buying in these areas as I do have cash flow properties in a similiar area but jsut CG prospects).

Darryl
 
I bought a property in Brisbane three years ago as a result of similar predictions from the same bunch.

Bought $190K, worth $240K after three years.

hardly a representative sample I know- but what I bought in supposedly unspectacular Canberra has boomed.
 
"Property analyst Michael Matusik said as long as there was no oversupply in Brisbane, the market would do well"

well if a few 1000 builders get sick for a year maybe it will come true
 
Glad you mentioned Matusik...

I received a report quoting Matusik. It stated that, looking at new building approvals and population growth, that Brisbane was at the top of the list as regards excess of demand of growth over potential supply.

But it also said that Canberra was at the bottom- vastly oversupplied as compared to Sydney.

Firstly, I'd have to question the ingoring of vacancy rates. Sydney- 5-6%, Canberra 1%.

But, more importantly- 750 new approvals for Canberra- but 500 houses burnt down. (Not sure in what period though).

I know that CBR is coming into an oversupply of apartments, and I'll agree with Matusik on that.

But I suspect an undersupply of land and houses. A REA told me that the ACY government are not releasing enough land to meet supply- I would suspect that they stand to make much more money by restricting supply (through increased valuations and rates) than they could by selling new land.
 
Which has been one of their tactics to restrict land when they need to. In the mid 80s i had to be on a waiting list to buy land.

Cathy
 
Originally posted by geoffw
I bought a property in Brisbane three years ago as a result of similar predictions from the same bunch.

Bought $190K, worth $240K after three years.

hardly a representative sample I know- but what I bought in supposedly unspectacular Canberra has boomed.
Click to expand...

Hi Geoff,

Not doubting your suggestion of working off predictions, I agree with you entirely, however, property prices in Brisbane have more than doubled on the sale price of 3 years ago. I'm wondering if you are fully aware of its current value or if so then where is it and is it a house, unit, commercial etc?? I'd be very surprised if a residential property in Brissie hasn't seen greater growth than your experience.

The market in my area still remains strong and we are still seeing prices increasing at the moment. Returns are getting low however, rental prices are just not keeping up.

I posted these links out of interest, thats all. I've had many people stop me to ask me my thoughts with regard to the articles.

Acey - I didn't see your post until after I placed mine, however, this was front page of the news that day and was front page on www.news.com.au on that day, so I considered them current, not necessarily right or wrong though. :)

Kev

www.nundahrealestate.com.au
 
Here, Here Geoff,
Let's hear it for good old Canberra- mine here have also rocketed, despited everyone else watching other cities for growth.
So surprising and pleasing that I quickly grabbed my neighbour's house when I saw the RE sign go up.
You have to be quick in sunny Canberra!
:)
 
Kev,

I bought new in The Cannery in Teneriffe three years ago (2BR loft apartment with A/C). Cost $180K + $10K A/C. And I bought for all the wrong reasons. I now realise that there's not a lot of growth in new apartments for a few years.

The latest boasts from the local RE people tell me that I could sell it for up to $250K now.

I'm definitely looking for land content next time around.
 
Looks good shot term

I guess it looks good short term and that means there are profits to be made if you buy and sell before the slump in 2006. Is that how you read it?
 
Dear Andrew,

Time in market not timing in market.

Growth means your properties will go up in value a bit faster. During the slowdown need to concentrate on making sure your yields are there to hold the properties and to find other ways to make your own capital growth. And to pickup the opportunities of overgeared parties that will come your way if you are looking.

Cheers,

Sunstone.
 
Kevan.. I was planning to buy an inner city unit for a ppr but
I dont much like the sound of that.. (its put me off the whole
idea)- ,
Thanks for the info..
 
Originally posted by plainsong
Kevan.. I was planning to buy an inner city unit for a ppr but
I dont much like the sound of that.. (its put me off the whole
idea)- ,
Thanks for the info..
Click to expand...

Hi Plainsong,

It was said with a little tongue in cheek, but there is also an element of truth in it, just depends on each development site.

I also remember back in my furniture business days I knew a guy named Jim BcBride. He owned McBrides furniture in the Valley. He once told me how they were his best clients, but that was about 8 years ago. Nothing different to every other capital city I wouldn't imagine.

Kev

www.nundahrealestate.com.au
 
Hi Kevin..
Years ago we unknowingly rented a flat where the previous occupant had been in that line of work..so eager gentleman looking for some of fun appeared at our door in a steady stream for a while till word got around,
It was a bit sad, they were quite disappointed,

Cheers,
 
Originally posted by plainsong
Hi Kevin..
Years ago we unknowingly rented a flat where the previous occupant had been in that line of work..so eager gentleman looking for some of fun appeared at our door in a steady stream for a while till word got around,
It was a bit sad, they were quite disappointed,

Cheers,
Click to expand...

There was an opportunity gone begging...they make a lot of money you know.:D

Kev

www.nundahrealestate.com.au
 
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