12 calls this week from REs in Brisbane

I've had my 12th call this week from REs in Brisbane ( some from Sydney too but didn't count) asking if I wanted to sell my IPs. I know they are trying to drum up business. But what's very clear is ( from an on the ground perspective) market sentiment is at an all time high and from what I'm being told, even if half of it is true, buyers are coming out in droves.

What's most hot? Houses, old and new, in high demand OO areas. Even land in these areas is in high demand. There is a lack of listings and demand is easily outstripping supply ( according to most of the agents). This is also reflected in some of the lines you see at OFIs.

I already have one under offer. Generally speaking Brisbane may have a lot more upside to come.

Folks looking to buy or sell in Brisbane, be alert for buying deals ( if you anticipate a lot more growth in ripple areas) or selling deals (if you can drum up a fantastic price.)

It's time to perk up and actively monitor ( and perhaps take action) the unfolding activity.



Who else is getting agent calls/ more on the ground info?

 

I got 2 calls this morning as well asking If I want to sell my houses. LOL

They seem really really desperate and said that just the shear amount of buyers out in Brisbane and surrounds are huge. He has never seen anything like it in 15+ years out there.

I said that I'm going to hold on for now thankyou very much. The boom has just started imho and we probably havent even reached the 7 o'clock phase of the cycle. Plenty of room left to sit back and enjoy the scramble.

 

Just returned from Brisbane - spent the whole week there, meeting various SDA providers and agents - looking for sites to build SDA housing. Agents tell me the market has been the hottest they have ever seen - A lot of the blocks throughout Brisbane (5-15 kms radius from cbd) are up c15%-20% in the past 6 months and so the projects with over 15% yield are now close to 11% since the land component has really shot up in value. This is across Sunshine Coast, GC etc and everything in between - all the way up towards Ipswich and then south towards Logan etc.

12 calls is super excessive! Not sure I have ever been desired by the agents so much even in the areas I hold a lot of IPs but you seem to be in hot demand! Are you sure they are just after your prop?

 

Brisbane open-home property inspections reach record levels

 

Harris spot on with the 5 - 15km from CBD and it definitely does seem the land component value has had a strong upwards trajectory.

I've never received this many calls in a 6 day period. Ever. All my props are within 9km from CBD.

Hey if the agents want 'more' than a property deal, let's leave it upto the negotiation.

 

I haven't had as many calls as you Sackie in one day but I keep on getting them on a regular basis. There is one agent who rings up every month saying that she hasn't got anything to sell. I feel for her because no sale means no income, unless she is on a retainer.

 

They've been reading your posts and 'everything is for sale*'


* subject to satisfactory t&c

 

No to be clear it's not over 1 day but 6 days.

 

Some of them are cold agents, agents I don't hold properties with and some are agents who have had transactions with me in the past.

 

Did you get asking rent?

One of my places got 7 months paid upfront.

 

I didn’t realise you could count past 10 (and only if you used your fingers and thumbs)

 

3 calls. 1 for Everton park (demand is strong and things are selling but data doesn’t show it to be booming unfortunately, maybe a lag?) 2 calls for Hawthorne. High demand and reaching record prices here and in bulimba, even for units. As it’s riverside and 5km to CBD

 

Perhaps because Everton Park is on the 15km zone so it's where things perhaps psychologically change for buyers who want to buy in Brisbane?

 

Stop trolling me I may have to report you.

 

Received a call from Coronis Realty Agent in Brisbane if I wanted a market appraisal on my 2 properties in Brisbane,said yep why not with results below.

North Lakes Property-Purchased 2015 433k
Current Rent $455
Rent Valuation $550
Property Valuation 520-550K

Waterford Property-Purchased 2014 370K

Current Rent $400
Rent Valuation $430
Property Valuation 400-440k

With current market conditions no doubt they are quoting to get business due to 40% less listings than the same time last year....​

 

Very well could be! My place is about 9.8km to CBD so still very close but seems just that extra 2-4km further than the likes of grange/Gordon park where places are fetching $1m+ may be psychological.

Then again, 25km further out is going mental. Hard to pick!

 

I'm not familiar with growth drivers for that distance. Is it safe to assume it's coastal? Or something else? Price affordability?

 

Assuming thats accurate from the REA, do you think it's current rent is a little too low?