Villas in Brisbane

W

WebBoard

Guest
From: Ron Redshaw


Hi to all , need some advice about a block of 3 x 2bed low set villas 9 km north from centre of brisbane. About 6 yrs old on 809mt all have gararge & grass courtyard. Condition is good & all are let - Total $500/week. Agent is asking $350,000 & I have offered $335,000. Its on three titles. Owners are 3 children in one family.Agent says they won't move on price. Do I up my bid or just sit and wait? How can i tell if the owner has got my latest offer? I don't think agent has shown many people through. Any suggestions?
 
Last edited by a moderator:
Reply: 1
From: Dave :)


Hi Ron,

Sorry, I know very little about the Brisbane market. That level of rent return, in a high growth area, in Melbourne would be great - I'd buy it! Have you got an idea about how that particular suburb, even down to the street, has performed in recent years?

I've heard yields over 8% in good areas is quite common in Brissy...is this true? If so, maybe you'll find another similar, or better opportunity, in an even better growth area soon if the vendor doesn't move on price.

Good luck.

Cheers,

Dave
:)
 
Last edited by a moderator:
Reply: 1.1
From: Ian Findlay


Dave,

Yields over 8% certainly are achievable in Brissie. We have yields over 7.7%
without trying too hard.

Ian

----- Original Message -----
From: "propertyforum Listmanager" <listmanager@bne003w.webcentral.com.au>
To: <Recipients of 'propertyforum' suppressed>
Sent: Wednesday, June 13, 2001 11:38 PM
Subject: Villas in Brisbane


> From: "Dave :)" <davidt@informgroup.com.au>
>
> Hi Ron,
>
> Sorry, I know very little about the Brisbane market. That level of rent
return, in a high growth area, in Melbourne would be great - I'd buy it!
Have you got an idea about how that particular suburb, even down to the
street, has performed in recent years?
>
> I've heard yields over 8% in good areas is quite common in Brissy...is
this true? If so, maybe you'll find another similar, or better opportunity,
in an even better growth area soon if the vendor doesn't move on price.
>
> Good luck.
>
> Cheers,
>
> Dave
> :)
>
>
>
> To reply: mailto:propertyforum.5249@bne003w.webcentral.com.au
> To start a new topic: mailto:propertyforum@bne003w.webcentral.com.au
> To login: http://bne003w.webcentral.com.au:80/~wb013
>
>
 
Last edited by a moderator:
Sydney v. Melbourne v. Brisbane

Reply: 1.2
From: Ross Sondergeld


Hi

I just went a seminar by Gary Makins the other night. (Organisers - "A buy
back australia event" & "International financial strategies and resource
centre".) And the speaker raised an interesting theory...

He said Brisbane was about to BOOM. Why? Because he raised teh issue of how
much rent tenants in syd, mel and bris were paying. (No reference provided
though...) For example,..

Sydney 51% of properties value paid in rent
Melbourne 39% "
Brisbane 21% "

I'd like to hear a few thoughts, from the audience.


P.S. I won't comment on the night but it was worth the $15 to get a very
unusual opinion about the property investing world. (By the way, Gary was
26... drunk and swearing, and sort of a surfie type.)



Ross Sondergeld ~ Buyer Agent

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
" Imagine buying real estate the easy way...
...with a Buyer Agent on your side!!! "

Buyerside Real Estate Mobile 0412 289 464
Office 9b, 34 Glenferrie Drive Office (07) 5562 1555
East Quay Corporate Park Fax (07) 5562 1248
Robina QLD 4226, Gold Coast Buyerside@hotmail.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
 
Last edited by a moderator:
Error - % of tenants income (sorry)

Reply: 1.2.1
From: Ross Sondergeld


Hi

I just went a seminar by Gary Makins the other night. (Organisers - "A buy
back australia event" & "International financial strategies and resource
centre".) And the speaker raised an interesting theory...

He said Brisbane was about to BOOM. Why? Because he raised teh issue of how
much rent tenants in syd, mel and bris were paying. (No reference provided
though...) For example,..

Sydney 51% of tenants income paid in rent (* Correction here !!!)
Melbourne 39% "
Brisbane 21% "

I'd like to hear a few thoughts, from the audience.


P.S. I won't comment on the night but it was worth the $15 to get a very
unusual opinion about the property investing world. (By the way, Gary was
26... drunk and swearing, and sort of a surfie type.)



Ross Sondergeld ~ Buyer Agent

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
" Imagine buying real estate the easy way...
...with a Buyer Agent on your side!!! "

Buyerside Real Estate Mobile 0412 289 464
Office 9b, 34 Glenferrie Drive Office (07) 5562 1555
East Quay Corporate Park Fax (07) 5562 1248
Robina QLD 4226, Gold Coast Buyerside@hotmail.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
 
Last edited by a moderator:
Error - % of tenants income (sorry)

Reply: 1.2.1.1
From: Les .



G'day Ross,

I recall Jan's first book commenting on this - don't have it with me to give a page reference - but it was that very fact that led to the end of the 89-90 boom.

If I recall the figures somewhat correctly, Sydney's rents got to near 80% of average wage (AWOTE). Brisbane (same time) got to around 30%.

Regards,



Les
 
Last edited by a moderator:
Re: Error - % of tenants income (sorry)

Reply: 1.2.1.2
From: Terry Avery


Hi Ross,

My thoughts are that the figures given may be a sweeping generalisation.
Perhaps in certain parts close to the CBD. I would question whose income he
is using. Is he comparing AWOTE earnings with the rent in South Yarra for
example. Well the average worker doesn't live there they live further out.

I think it was John Fitzgerald in his book Seven Steps to Wealth who said
that most people are prepared to pay 30% of their income in rent then they
move to cheaper locations. Also I think housing affordability is at a low
with the current interest rates so people could afford to buy instead of
rent.

So who can afford to pay 51% of their income in rent? DINKS, Gen-Xers
perhaps? OK say someone is on a salary of $100,000 that means they are
paying nearly $1,000 a week in rent. Anyone out there getting that sort of
rent? Anyone out there that would be prepared to pay that in rent? The P&I
payments for a $400,000 loan @ 6.5% are $2,700 a month, less than the rent
so why wouldn't you buy instead?

If the income is average earnings of say $42,000 a year then they would be
paying $21,000 p.a. or $403 a week. On that income you would be stretched
financially to pay that in Melbourne unless you were delusional and wanted
to live in luxury. You would be more likely to go 20 km out from Melbourne
and pay half that in rent or around 25-30% of salary.

Like all statistics you would need more detail to assess Gary's claims.
Personally I find them unrealistic. However the prospect of Brisbane about
to boom is backed up by independent property research which is predicting a
boom in 2003-2004 which I am sure you are aware of given your occupation. So
he has a correct assertion but the wrong reason (or evidence perhaps).

I myself would be very cautious about Gary if you are correct in him being
drunk and swearing as that is a thoroughly unprofessional approach which
shows no respect for his audience. At 26 was it a case of Dutch courage or
is that just the lifestyle he leads? Personally I would have walked and not
tolerated such behaviour in someone that wants my hard earned cash and
probably would have demanded a refund. Totally unprofessional!!!

Just my thoughts.

Cheers

Terry
 
Last edited by a moderator:
Back
Top