Strong Growth in Brisbane

Discussion in 'Where to Buy' started by Andrew_A, 29th Apr, 2007.

  1. eyespy

    eyespy Member

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    Where, where, where Virgo ? I'm hanging out to hear the details. Most places I've looked are poor yields. Only good yields iveseen are flood affected areas
     
  2. Dean1337

    Dean1337 Member

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    Ditto! I'm looking in Brisbane too would like to know where you are referring to virgo.

    Woodridge comes to mind at first. It was not flood affected either. Of course this comes with an added bonus of being in a low social economic area.

    A quick search on Eagleby and there are a few possibilities there too.

    This of course was done with a quick search on Real Estate looking at both advertised prices and rents. The real story could be different. :confused:
     
  3. gottabespotless

    gottabespotless Member

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    Agree. We're looking at purchasing a house (already reno'd for immediate best rent) in inner city suburbs yet the poor rental yields mean too much of our 'hard-earned' will have to fill the gap between net rent and mortgage repayment. It's a turn-off when I see beautifully renovated homes with 3+ bedrooms, 2 bathrooms, car space, sometimes even a pool, etc, in suburbs less than 5km from the CBD or closer only asking $650 - $700 in rent - considering what these types of homes are on the market for. Not interested in renting out by room to students (been there, done that) so thinking of holding off and looking at other areas but keeping an eye on Brisbane nonetheless.
     
  4. rookie101

    rookie101 Member

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    Well dont buy in north lakes/mango hill there's a tip! Too many IP properties for tenants to choose from and not enough infrastructure to prevent the commute to CBD to work
     
  5. boomtown

    boomtown Member

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    I was referring to the ascot property (which i do not intend to buy) not my own portfolio re carrying expenses. My own properties have much higher yields.

    As for purchasing badly, probably most people that bought in Brisbane in 2007 / 08 "purchased badly " from a cg perspective and most that bought in Brisbane in 2001 "purchased well". All with the benefit of hindsight which is 20 / 20.
     
  6. boomtown

    boomtown Member

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    100 percent agree. It's more "the market has bottomed and is going to climb back up over the next 24 months" that gets me. REAs can tell you what current conditions are. But they can't tell you what is going to happen in six months time.

    To answer my own questions, if there was an easy fix to the European debt crisis they would have done it by now which can only mean that tight credit conditions will be with us for awhile. Thermal coal prices have been slowly falling for 12+ months which means the mining boom is still a boom but is slowing at the moment. Thermal coal is used to generate electricity so global electricity demand must be down which means a slowing global economy. So with tight credit conditions and a slowing global economy there is not going to be a house price boom any time soon. But don't expect a REA to tell you that.

    The closure of Norwich Park mine should be a wake up call for anyone that thinks the mining boom is going from strength to strength.
     
    Last edited: 15th Apr, 2012
  7. boomtown

    boomtown Member

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    Carole Park is cheap.

    http://www.realestate.com.au/property-house-qld-carole+park-109801751
     
  8. Rixter

    Rixter $uper Investor (Retired)

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    Yeah my last purchase in Brisbane in 2007 I bought for $328k...today it sits around just under $400k I reckon.
     
  9. boomtown

    boomtown Member

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    Congrats if you did that with no work at all. If you put sweat equity into it well then the price reflects that. Incidentally, you are probably not in the same category as "most people".
     
  10. Rixter

    Rixter $uper Investor (Retired)

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    I dont know what same category as 'most people' means. Can you elaborate?

    I dont know if jumping on a plane from Perth, hiring a rental car & accommodation for 10 days in Brisbane, then conducting my Micro Due Diligence and then locating IP's and pitching offers is classified as hard work or not.

    For some it may be out of their comfort zones (as I know it was for me years ago when I was pushing myself for the first time) but now a days its just something I do.

    No sweat equity for me either over those 10 days tho..I simply locate a good deal, buy, hold and then set it on auto-pilot and basically duplicate the same elsewhere.
     
  11. Andrew_A

    Andrew_A Buyers Agent

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    Brisbane records a +1.49% result in March

    Brisbane recorded the strongest monthly growth since December 2009 this month. The +1.49% result in March has Brisbane in the black for the year with 0.33% growth in the index.

    The turnover has been healthy since December 2011 and not surprised to see this monthly result and the market near balance in prices, the last few weeks have been a little slower but still much better than last year.

    I will raise the possibility of a result for Brisbane this year in the mid-high single digit % wise for growth, this is a strong month and I have said to many people offline that if we get a strong quarter watch out to see what happens with all of those people waiting with finance approvals (many around!). Of course this is only a probability and perhaps not the most likely and you need to adjust for hope on the behalf of people predicting!

    The interest rate cut/s probably aren't going to hurt either.

    [​IMG]
    larger image
     
  12. Nth Brisbanite

    Nth Brisbanite Member

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    The above is great news for investors like me who have a few properties in Brisbane. Getting a mid-high single digit % rise will be a bonus.
     
  13. boomtown

    boomtown Member

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    I wouldn't get too excited according to Residex it is a slight uptick against constant falling prices since the most recent peak of Feb 2010. And the fall hasn't been a straight line there have been other isolated upticks.

    28-Feb-2010 H Brisbane 12.5423
    31-Mar-2010 H Brisbane 12.3346
    30-Apr-2010 H Brisbane 12.4198
    31-May-2010 H Brisbane 12.5138
    30-Jun-2010 H Brisbane 12.5122
    31-Jul-2010 H Brisbane 12.4304
    31-Aug-2010 H Brisbane 12.3976
    30-Sep-2010 H Brisbane 12.2235
    31-Oct-2010 H Brisbane 12.2309
    30-Nov-2010 H Brisbane 12.215
    31-Dec-2010 H Brisbane 12.2514
    31-Jan-2011 H Brisbane 12.0991
    28-Feb-2011 H Brisbane 12.0579
    31-Mar-2011 H Brisbane 11.9786
    30-Apr-2011 H Brisbane 11.8434
    31-May-2011 H Brisbane 11.8188
    30-Jun-2011 H Brisbane 11.8039
    31-Jul-2011 H Brisbane 11.679
    31-Aug-2011 H Brisbane 11.5662
    30-Sep-2011 H Brisbane 11.7282
    31-Oct-2011 H Brisbane 11.5575
    30-Nov-2011 H Brisbane 11.4861
    31-Dec-2011 H Brisbane 11.4302
    31-Jan-2012 H Brisbane 11.4271
    29-Feb-2012 H Brisbane 11.2991
    31-Mar-2012 H Brisbane 11.468
     
  14. vbplease

    vbplease Still on my L plates

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    I'm seeing a definite swing from buyer's market to seller's market at the moment in my target area.. I think the warmer weather and the last rate drop has brought a lot more people to the 'open for inspection's.

    Was very keen on one particular unit and thought I'd play it cool waiting for the follow up call on Monday.. nothing. So I call today - "sorry it went under contract during the first viewing". :eek:

    Anyone else finding similar in their target area in Brisbane?
     
  15. npb555

    npb555 Member

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    Depends as ever on the area. We looked 2 weekends ago in the Hawthorne area at houses in the $600-700K range and there were lots of others also looking (over 10 parties at 1 ridiculously overpriced property). Last weekend we looked in the Taringa, Chapel Hill areas and there was only 1 other party looking during 4 inspections we attended (2 were 1st time OFI's), with no other names on the registers. Good properties priced to the market are moving well as always, but far too many vendors are living in the past and believing what they read in the papers about the market taking off again.
     
  16. Suzy912

    Suzy912 Member

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    It is the same story I think where ever you go, in this market in general. Properties that are priced to meet the market will always sell. Vendors who are not priced to sell will eventually meet the market or withdraw. It seems it is a swing as to whether it is a sellers or buyers market...don't you think?
     
  17. Temporisation

    Temporisation Member

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    Interesting to note that Evvien is now having a receivers sales, which they state is $115k below original list price and $60k below replacement cost. Does that mean the developer is only making $55k per apartment?
     
  18. eeew

    eeew Member

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    Coal prices are down, but there is still a lot [ tens of billions usd worth] mined in qld. The medium and long term outlook for all types of energy is very strong.

    Brisbane - and ill only limit it to brisbane [ because i dont know the surrounding areas well enough] is well diversified and has a lot more than resources, so it can definately handle the lower coal and related commodity prices.
    QLD also has a vast and untapped CSG reserves. Expect this to eventually take off.
    http://www.abc.net.au/news/specials/coal-seam-gas-by-the-numbers/
     
    Last edited: 4th May, 2014
  19. Scarlett09

    Scarlett09 Member

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    Acacia Ridge

    What are peoples thoughts on Acacia Ridge for the long term - say 7 to 10 years
    There is a nice neat little residential pocket.

    Also, Salisbury - it seems to be very handy for transport.
     
  20. Rixter

    Rixter $uper Investor (Retired)

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    Providing all the underlying fundamentals remain the same, how it's performed over the past 10-15 years will give you a pretty good indication on its future performance.

    Have you checked those, and what have you found?
     
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