Strong Growth in Brisbane

[kissfan]

and all reports in newspapers should be disregarded for the next year or so.

Except for reports on the mighty Broncos!!

Yeah, you're right...I read somewhere that the Broncos are contenders this year. That report should definately be disregarded

Regards
Marty

 

[willair]

New land valuations are being posted out now. Plenty of great data to browse through.

Data available at the DERM website

Yes we got all the new values in the mail yesterday,most have stayed the same,the only 2 that went up above 20% were Rocklea and West End,all the rest were below 5%,easy money for just having your name on a few unencumbered land titles-Thanks for the link some interesting reading..willair..

 

[Perp]

there is a lot of irrational exuberance floating around this board and I would hope anyone looking to purchase proceeds with caution and open to the many risks surrounding us

Yes, I'm hearing good stories out of Melbourne, but I'm really not seeing any tangible signs of a return of optimism in any other market yet. I'm not banking on any significant growth for a few years - but I'd be ecstatic to be wrong.

 

[GIDDO]

medians around the country are a load of rubbish, distorted by FHOG. when the GFC was in full swing everyone was d&g as the median was falling (obviously due to FHOG) - now it is rising and it is taken as a sign of real growth. IMO the real estate market is still patchy at best, stuck in the mud at worst. Perth was said to have had huge growth but I can put to dozens of suburbs that are still underwater 20%... dev sites in midland havent moved for example. villas in mandurah still down 20% on 2006 prices.

there is a lot of irrational exuberance floating around this board and I would hope anyone looking to purchase proceeds with caution and open to the many risks surrounding us

You speak so much sense Aussie.
Median prices are very often a flawed measurement. I think is a gross distortion of the truth when newspapers publish median prices as evidence of price growth, trumpeting "boom" headlines.
The current situation with the disappearance of the FHOB is an illustration of this, with a section of the market dropping in volume (lower end) and the median price therefore skewing upwards.
I find it difficult holding a sensible BBQ conversation about property values when people are all talking about "boom" median values.
People should look closer.

 

[Peterw]

Having been in the industry for over 30 years, I agree that medians are very misleading. I was once told that journalists operate by the theory, that one should not let the facts spoil a good story. Sadly, the movement in median prices, is the only "public" figure available to people, so it gets quoted. It will help if you have access to the sales records, where you can go close to mapping, a "close" like with like sales prices over time, or at least have access to someone that can provide you with that data. I would also be very wary of taking the % movement in the unimproved capital value as a guide, as it is drawn from vacant land sales in that suburb, and then they just apply the % gain or loss over the rest of the suburb. At least thats what they told me the last time I objected. I offered examples of houses having sold for a lower figure that they were listed my UCV as. Their blunt reply was, "well when you add the cost to remove the house" ..... I was to busy to spend the time and money to go to the next stage of objection. Nothing really beats proper research.

 

[gman65]

New land valuations are being posted out now. Plenty of great data to browse through.

Data available at the DERM website

I just got my revised notice for BCCC area in the mail.. +20% increase from 2007 to 2009.. Nicely they decided to stop valuing when values were falling at the peak of the GFC, yet are very quick to jump back on and revalue upwards as prices are steady or rising

 

[Hoffy]

I just got my revised notice for BCCC area in the mail.. +20% increase from 2007 to 2009.. Nicely they decided to stop valuing when values were falling at the peak of the GFC, yet are very quick to jump back on and revalue upwards as prices are steady or rising

41% increase for me. Can't wait for the next rates bill.

Pretty grim for the Gold Coast - at least most down there won't have to worry about a rates increase next year.

 

[asdf]

medians around the country are a load of rubbish, distorted by FHOG. when the GFC was in full swing everyone was d&g as the median was falling (obviously due to FHOG) - now it is rising and it is taken as a sign of real growth. IMO the real estate market is still patchy at best, stuck in the mud at worst. Perth was said to have had huge growth but I can put to dozens of suburbs that are still underwater 20%... dev sites in midland havent moved for example. villas in mandurah still down 20% on 2006 prices.

there is a lot of irrational exuberance floating around this board and I would hope anyone looking to purchase proceeds with caution and open to the many risks surrounding us

Yeah, the suburbs that are doing well are where the jobs have come back and pay rises starting to flow through. 5-10km radius of CBD, good sized homes, bock standard stuff with good piece of dirt that everyone seems to be chasing. Location, location.. blah blah... Follow the jobs...

 

[willair]

41% increase for me. Can't wait for the next rates bill.

Pretty grim for the Gold Coast - at least most down there won't have to worry about a rates increase next year.

I would like to know what area had that sort of upswing,41% is huge..
willair

 

[kissfan]

Has the Qld land tax threshold been increased? From memeory, it is/was 600K (for individuals).

If it hasn't been increased, these new valuations may see quite a few investors having to cough up more $$$.

Regards
Marty

 

[joanmc]

I had an average of 40% increase on all our rentals and a 50% for our PPOR! these are from 2005 to now. I just can't wait for the new rates notices now they went up 30% last year! Our mayor will tell you it was 7% but to me going from 1800 to 2400 equals 30%+.

I don't know that there have been enough land sales though to really justify the figures, except maybe the one on our PPOR as it's a farming area close to town, and houses here have been doing well the last few years.

 

[kissfan]

I had an average of 40% increase on all our rentals and a 50% for our PPOR! these are from 2005 to now.

Yep, the land value of my IP's in the Redlands area has increased by 50% as well.

Regards
Marty

 

[Hoffy]

I would like to know what area had that sort of upswing,41% is huge..
willair

It isn't out of the ordinary according to the figures on the linked website. Plenty in the 50's. Mine was last valued in 2007. While I think the new valuation is accurate, the '07 was grossly under, so I don't believe their has been actual growth in land value by that much.

 

[Andrew_A]

Residex house prices since my last update for Brisbane.

There's been a strong start to the year which may or may not be slowing down now after the last few rate hikes. Walking around my local suburb I'm noticing more building and renovation activity than at any time in the last four years, feeling pretty happy about that!

31-Oct-2009 H Brisbane 12.2802
30-Nov-2009 H Brisbane 12.2955
31-Dec-2009 H Brisbane 12.6175
31-Jan-2010 H Brisbane 12.7116
28-Feb-2010 H Brisbane 12.5423

residex indices

 

[GiantGuineaPig]

Do you mind saying where your bedsitter is? I was talking to someone today who is searching for a one bedroom place. Perhaps you could send a link via a PM to me.

Oops sorry I took so long. It's in South Brisbane, I'll PM you the link.

 

[NBS]

I'm looking at a couple of location, Riverview and Nundah being one, now I read something in this thread about Nundah but cannot find it again, comment was along the lines of new flight path and may have an inpact on the area.

I thought Nundah had a lot going for it ie shopping centres, access to main hwy, bus, train, airport, under 10k to Brisbane. I never gave the flight path a consideration would like to read that bit again.

Have I missed something in the area or is it just the flight path which may impact on the area.

Thanks
Brian

 

[Andrew_A]

I'm looking at a couple of location, Riverview and Nundah being one, now I read something in this thread about Nundah but cannot find it again, comment was along the lines of new flight path and may have an inpact on the area.

I thought Nundah had a lot going for it ie shopping centres, access to main hwy, bus, train, airport, under 10k to Brisbane. I never gave the flight path a consideration would like to read that bit again.

Have I missed something in the area or is it just the flight path which may impact on the area.

Thanks
Brian

I don't rate it as an issue. Try and find a thread about someone talking about flights impacting Ascot, Hendra, Windsor etc etc and many other blue chip areas, I don't think you will find them, yet I have personally been amazed how I can plane watch in such areas sometimes, rarely done that in Nundah and around 4014.

Nundah does have a lot going for it, the redevelopment around the Nundah Woolies has been very nicely done in my opinion, I'm personally hoping similar things happen in nearby suburbs soon where there are cheaper buys still. Gosh even Toombul shopping centre is getting better!

 

[Andrew_A]

April update

Houses are off all time highs but units interestingly are at new highs.

Brisbane houses
31-Dec-2009 H Brisbane 12.6175
31-Jan-2010 H Brisbane 12.7116
28-Feb-2010 H Brisbane 12.5423
31-Mar-2010 H Brisbane 12.3346
30-Apr-2010 H Brisbane 12.4198

Brisbane units
31-Dec-2009 U Brisbane 10.2474
31-Jan-2010 U Brisbane 10.1897
28-Feb-2010 U Brisbane 10.0946
31-Mar-2010 U Brisbane 10.39
30-Apr-2010 U Brisbane 10.4062

Residex indices

 

[MJK]

I suppose this reflects a feeling that houses are less affordable so home buyers have now become unit buyers, I think.

MJK

 

[wokka1]

I suppose this reflects a feeling that houses are less affordable so home buyers have now become unit buyers, I think.

MJK

For what it's worth, I share your view but take it further. As houses become less affordable in a given area buyers go for units as they provide better value or more "bang for your buck" relative to houses. Once unit values in a given area catch up to houses they will no longer be seen as providing better value and the shift back to houses will occur. The cycle begins again...house values move ahead of units, units play catch up...so on and so on.

This relationship may be skewed somewhat by changing demographics, smaller families, childless proffessional couples, busy older singles wanting no yard to maintain and close to CBD's etc.