OTP buying - Fortitude Valley -2016 completion

Discussion in 'The Buying/Selling Process' started by Poe, 11th Nov, 2014.

  1. Angel

    Angel Member

    Joined:
    29th Mar, 2010
    Messages:
    2,210
    Media:
    1
    Location:
    Brisbane, Qld
    I'd like to see those beaches and pools next time the river floods :eek:
     
  2. redwing

    redwing Progress Not Perfection

    Joined:
    16th Mar, 2004
    Messages:
    8,533
    Media:
    69
    Location:
    WA
    I'm sure I've read a few stories on SS regarding this as well as it being in the media :confused:
     
  3. JohnHenry

    JohnHenry Mister

    Joined:
    3rd Jun, 2011
    Messages:
    721
    Location:
    Wollongong
    Thanks for the sharing MIW,

    so in regards to:

    - you do not know the % of owners to renters

    It is difficult to know how. Isthere any way to know the percentage using RPData or some other premium search engine tool ?
     
  4. CosmicTrevor

    CosmicTrevor Member

    Joined:
    15th Nov, 2014
    Messages:
    73
    Location:
    Sydney, NSW
    I've tried to do this analysis for a number of buildings in Brisbane, easiest way is one of the online databases (I used Pricefinder). Compare the buyers address to the address of the property - if they are not the same then fair assumption that they are an investor.

    This information will not be known until the title transfer has occurred and in my experience it can take some time until the information appears.

    In high density apartment buildings it wouldn't surprise me if the investor % is >90% in Brisbane and of this more than 50% is interstate or off shore.

    One example of a building with >200 apartments on Ann St, the breakdown was;

    Ownership Unknown : 29 (unsold / unsettled when I checked the data)

    Likely Investors
    NSW: 73 (34%)
    QLD: 42 (19%)
    China: 17 (8%)
    WA: 16 (7%)
    Vic: 7
    C/- onsite manager: 5 (2%)
    Singapore & Malaysia: 4
    SA, NT, ACT: 4 each

    SMSF (Where the naming of the title holder includes text suggesting SMSF, so may be many more than this)
    WA: 3
    Vic: 2
    NSW: 1
    QLD :1
    Total: 7 (3%)

    Owner Occupiers: 3 (1%)

    Thus, of the properties where the ownership was known only 3 were owner occupiers. Of course the 29 that were unknown may increase this number.

    Trev
     
    JohnHenry likes this.