Is it a good time to buy a PPOR in Brisbane?

[Kingsley_L]

With the current low interest rate, I am thinking of buying a PPOR in Brisbane, Logan to be specific because it is relatively cheap. I am thinking of buying land, then build a house. Alternatively, buying a cheap land with house, then build a new house after demolishing the original house.

Is this a good time to buy a PPOR? Some people are saying fix rate can't go lower, some say the property market has topped and will drop in the near future.

While I can afford to do so at the moment, I am in no hurry to purchase a PPOR. I would rather making sure the timing is right.

What do you guys think?

 

[Rixter]

Its been going sideways since 2007...its over due for CG and couple that with low rates IMO doesnt get much better time than now.

In 10 years time you will be thanking yourself you did, providing you've purchased good quality well located.

 

[jerrybee]

Some people are saying fix rate can't go lower, some say the property market has topped and will drop in the near future.

I know some locals that think Brisbane is very expensive and is due for a correction. 500k for a house is a bit absurd, if you narrow your world view to just Brisbane. If you broaden your view to include other cities you'll probably change your perspective. Personally, I strongly believe it's due for a big jump. In fact I didn't even start looking again until 2013. I was in town and a friend was going on about how expensive things were and I'm like oh gee, let me check. Suffice to say I was so shocked to see prices were so CHEAP and began buying again. If it wasn't for him I wouldn't have taken such a close look at Brisbane for several more years.

 

[see_change]

Yes

If that's where you want your PPOR .

cliff

 

[LeoT]

In 10 years time you will be thanking yourself you did, providing you've purchased good quality well located.

Have to agree. Some amazing opportunities in Brissy. I think the absolute best time to buy was a bit over a year ago, but now is still quite good.

Leo

 

[jerrybee]

Have to agree. Some amazing opportunities in Brissy. I think the absolute best time to buy was a bit over a year ago, but now is still quite good.

Leo

Best time was in 2012, first half of 2013...which I missed out on

But between then and end of 2014 have been good times too but competition was definitely ramping up. The difference I've noticed in just the last 6 months has been an increase in unconditional and / or cash offers, strong pre-auction offers and plenty of sight unseen purchases (I just did this) which indicates things are definitely heating up. At this rate, I would say if you want to buy, do it asap. I believe the window for "easy" buys will end at the end of the year. Brisbane buyers seem to come out when it's warmer and I predict this Xmas is going to be like the beginning of Sydney on 2013...that's when things exploded.

 

[LeoT]

Best time was in 2012, first half of 2013...which I missed out on

But between then and end of 2014 have been good times too but competition was definitely ramping up. The difference I've noticed in just the last 6 months has been an increase in unconditional and / or cash offers, strong pre-auction offers and plenty of sight unseen purchases (I just did this) which indicates things are definitely heating up. At this rate, I would say if you want to buy, do it asap. I believe the window for "easy" buys will end at the end of the year. Brisbane buyers seem to come out when it's warmer and I predict this Xmas is going to be like the beginning of Sydney on 2013...that's when things exploded.

Hey Jerry,

Congrats on your recent buy buddy. I did my buying about a year ago so I haven't been completely active in the market since then, but from what your telling me, ("increase in unconditional and / or cash offers, strong pre-auction offers and plenty of sight unseen purchases") it certainly looks like its heated up! I agree with your assessment that the window for good opportunity is closing as the months go on. cheers.

Leo

 

[willair]

With the current low interest rate, I am thinking of buying a PPOR in Brisbane, Logan to be specific because it is relatively cheap.

Maybe have a good think about that one,i was down Logan central a few days ago helping a mate with a plumbing problem,and after we finished the job he shouted me fish and chips at a takeaway at logan central train station,and sitting there for half an hour in between the punch-ups- poor police trying to sort out the problems,it was like watching the last episode of housos..

 

[Deltaberry]

Best time was in 2012, first half of 2013...which I missed out on

Well can't put it that way. The best time has to be now, because the best time in 2012 was Sydney and parts of Melbourne. One's capital is limited.

 

[jerrybee]

Well can't put it that way. The best time has to be now, because the best time in 2012 was Sydney and parts of Melbourne. One's capital is limited.

Good way to put it!

 

[Rixter]

The best time to buy was 20 years ago..the next best time is now.

 

[LeoT]

One's capital is limited.

Indeed it is. That's why there are always great opportunities in every market. When investors reach their limit, the buying has to stop. Letting others jump in

 

[trinity168]

The deal of the century happens every day ...

 

[Kingsley_L]

I am glad that everyone agrees now is the right time to enter the market. I bought an IP back in late 2013, another one early this year. So hopefully I didn't miss much opportunity in the past.

Also, I know Logan is not the best suburb, especially for a PPOR. But I guess I still have to shop around and see if I can afford else where.

 

[hugh72]

I am glad that everyone agrees now is the right time to enter the market. I bought an IP back in late 2013, another one early this year. So hopefully I didn't miss much opportunity in the past.

Also, I know Logan is not the best suburb, especially for a PPOR. But I guess I still have to shop around and see if I can afford else where.

It's a big area, Daisy Hill might be okay for a ppor

 

[Bran]

What's your budget and requirements in a house Kingsley?

I'm all for helping OO's. Those damn southern investors don't maintain or improve their houses enough.

 

[JDP1]

Best time was in 2012, first half of 2013...which I missed out on

....

I bought in late 2012...f--- YEAH!

Given that Brisbane hasn't moved that much compared to Sydney and Melbourne id say its got plenty in the tank. Nows still a good time to buy. It hasn't anywhere near boomed yet. Even the good areas in Brisbane have showed just moderate growth since that time.

 

[Kingsley_L]

What's your budget and requirements in a house Kingsley?

I'm all for helping OO's. Those damn southern investors don't maintain or improve their houses enough.

Budget is around 550k. I am really hoping to build a house since the floorplan of most properties on the market don't really make sense to me. This gives me around 300k for land and 200k for build.

I reckon this makes anything within 20km CBD out of my reach.

I read the latest API and they have a section for the Logan area. Seems like Underwood and Rochedale South are expecting some major infrastructure upgrades. Although I am hunting for a PPOR, I am still quite mindful of CG in the long term.

 

[jerrybee]

I bought in late 2012...f--- YEAH!

Given that Brisbane hasn't moved that much compared to Sydney and Melbourne id say its got plenty in the tank. Nows still a good time to buy. It hasn't anywhere near boomed yet. Even the good areas in Brisbane have showed just moderate growth since that time.

High five!

Now we all sit and wait. Excellent

 

[Bran]

Budget is around 550k. I am really hoping to build a house since the floorplan of most properties on the market don't really make sense to me. This gives me around 300k for land and 200k for build.

I reckon this makes anything within 20km CBD out of my reach.

I read the latest API and they have a section for the Logan area. Seems like Underwood and Rochedale South are expecting some major infrastructure upgrades. Although I am hunting for a PPOR, I am still quite mindful of CG in the long term.

You can still buy within 10k of Bris CBD for 550k on the south side (I don't know the north side well enough to comment). Look harder. In no way does 550k mandate you buying in Logan.