How does owning property in QLD differ to owning property in VIC?

To those owning IP's in both states...

I'm a Vic wanting to buy either a townhouse or apartment in QLD, as one more purchase in Vic and my Land Tax Bill goes through the roof.

For those who own property in both states, can you please shed some light on some of the key differences between owning IP's in both states. Ie, taxes, body corporate rates, what tenants look for, etc, etc.

Thanks.
 
To those owning IP's in both states...

I'm a Vic wanting to buy either a townhouse or apartment in QLD, as one more purchase in Vic and my Land Tax Bill goes through the roof.

For those who own property in both states, can you please shed some light on some of the key differences between owning IP's in both states. Ie, taxes, body corporate rates, what tenants look for, etc, etc.

Thanks.

Sorry Bludger, but you're putting the question under the assumption that there is 1 real estate market in VIC and 1 in QLD. Since that is not the case it will be very hard to provide a meaningfull answer to your question. e.g. a tenant looking to rent in Hamilton will be and will be looking for something very different to a tenant looking to rent in Gladstone.
 
To those owning IP's in both states...

I'm a Vic wanting to buy either a townhouse or apartment in QLD, as one more purchase in Vic and my Land Tax Bill goes through the roof.

For those who own property in both states, can you please shed some light on some of the key differences between owning IP's in both states. Ie, taxes, body corporate rates, what tenants look for, etc, etc.

Thanks.

land tax is much more lenient, valuations on land often 20% of real value.

it took 10+ properties before paying land tax in qld, took 2 properties in Vic!

body corp and rates are much higher in qld, normally a bit more than double the average in vic,

what tenants look for is as agent007 says, depends on area but pretty much same fundamentals as vic
 
Sorry Bludger, but you're putting the question under the assumption that there is 1 real estate market in VIC and 1 in QLD.

Sorry about that. Inner city, say up to 10kms out, both States. Say a townhouse with 2 or 3 bedrooms with single or double bathrooms, car park, etc. Run of the mill stuff basically.
 
Sorry about that. Inner city, say up to 10kms out, both States. Say a townhouse with 2 or 3 bedrooms with single or double bathrooms, car park, etc. Run of the mill stuff basically.

Some of my thoughts in not particular order:

1- I found the sales contract in QLD more comprehensive and easiers to add clauses than in any other part of AUS (VIC included).
2- In QLD you need to pay less stamp duty
3- Right now, I found the market in Brissie very slow. Properties take more time to sale and to rent. Rents are also softer than they were 2y ago. It is more of a buyer's market now.
4- I believe there is some redevelopment going on or about to go on in the race course of Ascot/Eagle Farm. This is about 5-6k north of the city.
5- The Brissie Counsil is also installing some bike stations in the city and all around the 2-3km radious. They are planning to spent $100m on it.
6- From a very general point of view, 0km to 7km of the city centre 2b will be the product. Any thing bigger than that will be more expensive and somehow outside the main stream renters profile (my opinion only).
7- In general, if I was presented with the opportunity to buy in Mel or Brissie, right now will go for Brissie. I believe I can get a better price over there right now. The question is how long this current situation will last. Because nothing last for ever :rolleyes:
 
3- Right now, I found the market in Brissie very slow. Properties take more time to sale and to rent. Rents are also softer than they were 2y ago. It is more of a buyer's market now.


only in some sectors - you try and find a block of land, a house in the inner ring priced properly or a splitter and you'll have some work on your hands.

even larger dev sites are flying! anything with multi-use potential and anything with density are also selling.
 
Curtains fade slower in Qld because there is no daylight saving there

And the cows sleep for an hour longer.

Back to OP, stamp duty and land tax better off in QLD, what my concern about QLD is though is if they can't privatise anything then they will have to look at other places.

Jezza
 
To those owning IP's in both states...

I'm a Vic wanting to buy either a townhouse or apartment in QLD, as one more purchase in Vic and my Land Tax Bill goes through the roof.

For those who own property in both states, can you please shed some light on some of the key differences between owning IP's in both states. Ie, taxes, body corporate rates, what tenants look for, etc, etc.

Thanks.

No difference. :p We get the same amount of correspondence and hassles (very few) from our Qld PMs as our Vic PMs.

Except that you can fly up there for a long weekend, go visit the property(s) (and Dreamworld) and claim it on tax.
 
In VIC you get a "section 32" that tells you all the "stuff" about the property.
In Qld. you don't. So make sure the contract includes a "21 days due diligence, not happy, get out, refund deposit" clause so your solicitor and you can check it out. Rates are higher in Qld. Why? Don't know. In some areas we find REAs less "negotiable" on the management %.
LL
 
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