see_change said:
I was told in 2000 that Redcliffe was " Deadcliffe " , unfortunately I listened so didn't buy the house of a double block , waterfront for $xxxx ( even thinking about writing it it makes me almost cry ).
Made me swear off depending on people who know an area really well....
I'll listen but then draw my own conclusions.
See Change
Yes SC, it is an interesting phenomenon, that most don't see the opportunity of their local area, because they know about the 'warts 'n all'. Redcliffe's renaissance IMHO has been very much due to non locals buying the bayside dream conjured by spin meisters from far away. (well, it certainly wasn't a boom based on local money) The same spin has driven 1770, Agnes Waters, Yeppoon, Hervey Bay area etc etc. However, from my trips there, I see a lot of issues which would have me preferentially throwing my money at other locations such as Cleveland, Redland Bay, Kawana Island, Minyama, Peregian etc etc.
Redcliffe will take many years to shake off its welfare and working class roots; as so convincingly evidenced by the crowd at the local free public pool on the foreshore the other hot day....When you get 'west of Oxley', and into Kippa Ring, Rothwell, and Deception Bay, the demograhic isn't going to change anytime soon. And that will reflect on infrastructure for some time.
..and real employment opportunities will always be a long drive away up an ever more congested Gateway Arterial.
And the Brissie locals I know who have had a go at the baychange down there, have mostly moved back into Teneriffe, New Farm, and Newstead to rejoin their own (after pocketing the first wave of cg.).
The latte set I know down there these days are heavily represented by English, Kiwis, and Southerners. And I think many of them are wondering where all the other smart baychangers are???? That thought usually crosses their minds about 18 months after the smugness of buying "east of Oxley" wears off.
Nevertheless, as I am so discouragingly learning to accept, PI is not all about whether an area is what it is imagined to be. Redcliffe was yet another reminder that PI or at least speculation, is more about identifying trends and 'flavour of the months', no matter how misinformed, and being there first, and not being there last when Ponzi's hordes ease off.
In fact, it would probably be a reasonable property trading strategy to gain one's tips from a survey of API, Personal Investor, BRW etc, and from listening to the chatter over lattes at Balmoral Beach, Neilsen's Park, St Kilda, and Sth Yarra. The chattering class usually have the time and motivation to discover new spots via such media, and Ponzi's hordes usually follow soon after.
After all, there can only be so many hot spots to park your money each quarter. And there can only be so many avenues to find out where those spots are. Actually, it would be interesting to identify how long an area remains a hotspot, how long before interest and prices ease off, and another hotspot starts grabbing the attention of the national media, the smart money, and finally Ponzi's Hordes. Would be a very interesting media study, and quite profitable too I imagine.
Hi folks
