2020 is the year for Brisbane!

Discussion in 'Property Market Economics' started by Realist35, 22nd Jan, 2020.

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  1. Realist35

    Realist35 Well-Known Member

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    Morning guys,

    I spent some time on the phone yesterday with Brisbane agents to understand what is happening on the ground. What they said is very encouraging. Basically sentiment has completely changed from Dec last year. There's lots and lots of people at home opens and auctions. One last very confidently said that the next core logic report will show 2% growth in Jan.

    An interesting article:
    Ready-to-buy home hunters reached a record high in the middle of FOMO - The Media Times

    Brisbane is booming!
     
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  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    depends on market segment, but yes we are seeing multiple offers on stock, in one recent case it was 13 competing buyers !

    ta
    rolf
     
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  3. Sackie

    Sackie Well-Known Member Premium Member

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    Just got back from Brisbane and certainly inner and middle ring OO stock is flying out. Anything new with no work needing to be done is first ,then significant Renos second, and places which need work are taking longer.

    Size of land is not super important anymore. A 700sqm lot with an average home will get less or far less than a new house on a 400sqm lot .

    Interesting times ahead but my sense is segmented parts of Brisbane and certain stock types in Brisbane will do well over the next 3 years.
     
    Last edited: 22nd Jan, 2020
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  4. albanga

    albanga Well-Known Member

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    Wait. A few agents said their is activity so that’s translated to Brisbane is booming....
     
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  5. Sackie

    Sackie Well-Known Member Premium Member

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    I'm not as bullish as the OP and I personally don't believe Brisbane is currently booming but there is a lot of good movement and sentiment in certain markets to suggest that segmented parts of Brisbane should do reasonably well over the next few years.

    I really don't think its going to be a case of a rising tide lifts all boats unless Brisbane significantly and overtly booms. My sense from everything I've seen and alot of the anecdotal feedback is buyers know what they want and if you own in those certain areas the types of properties they are after, you should do reasonably well.

    It will be interesting to see how Logan et al performs over the next 3 years.
     
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  6. fols

    fols Well-Known Member

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    100% agree. Asset selection is super critical. Need to buy like a local.
     
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  7. Jana

    Jana Well-Known Member

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    Yes, certainly little positive than last year. Low set houses in Everton park region just get under contract within 4-5 days.

    Despite this positive energy, I never heard any Brisbane agent stating market is not bullish. They always says it is flying, sometimes even some houses stayed over 2 months on the market.
     
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  8. kierank

    kierank Well-Known Member

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    Brisbane is full of dreamers :eek:.
     
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  9. Sackie

    Sackie Well-Known Member Premium Member

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    I've seen more hefty men with tattoos and shirtless walking the streets on Logan road then I've seen in 20 years in Sydney :D

    Brisbane feels to me like I'm driving through a beautiful national Park most of the time. The roads are actually fun to drive, feels like I'm on a go-kart track :cool:

    When you get tired, just looked at every second house offering massage services. What more can one ask for.
     
  10. Realist35

    Realist35 Well-Known Member

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    Screenshot_20200121-131803.png The attached screenshot is quite telling. Brisbane is just having the longest streak of low growth in the last 50 years. I think this will soon be followed by strong growth. I believe that anyone who recently invested in Brisbane will soon be very happy.

    I also think Brisbane will grow as a whole. Certain segments will do better than others but overall it will do well.
     
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  11. fols

    fols Well-Known Member

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    It wouldn’t be January on PC if we didn’t have a “will Brisbane boom this year “ thread.
     
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  12. albanga

    albanga Well-Known Member

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    Haha
    Reminds me of the old Somersoft days spruiking Frankston. They eventually got it right though.
     
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  13. Sackie

    Sackie Well-Known Member Premium Member

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    By April we should see the boom....or is that April fool's day ...:oops::D
     
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  14. Realist35

    Realist35 Well-Known Member

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    November growth 0.9%
    December growth 0.8%
    January growth ???

    This is 10% run rate and things will just get hotter :)
     
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  15. EK01

    EK01 Active Member

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    In our area (Graceville/Sherwood/Corinda) fairly priced houses (esp Qld'ers) are going under contract very quickly and have been for some time.

    The question is, will sellers respond to the increased levels of interest and look to list as stock levels are very low.
     
  16. wilso8948

    wilso8948 Well-Known Member

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    Good old Logan will be the ugly embarrassing cousin that no one wants at family Christmas lunch but still shows up and gets some turkey. Albeit a smaller portion.
     
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  17. See Change

    See Change Well-Known Member

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    There was a noticeable drop in Listings in December, but that was nationwide as well . The Jan figure will be interesting . Haven't talked talked to any agents recently so interesting to hear OP comments .

    Cliff
     
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  18. Alex123711

    Alex123711 Well-Known Member

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    Any thoughts on buying a house zoned 'character' in Brisbane?
     
  19. wylie

    wylie Moderator Staff Member

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    Depends on what you want to do with it. We have two houses in a character zone and we live in another character zone, though our house was built after WW2 so could be removed.

    The two we have together are nice old houses, but had they not been old houses, we would have been much better off financially had we been allowed to remove them from the blocks.

    Instead, we had to move them on the blocks, and bring them up to code in order to build townhouses.

    So, if you think you may want to develop the block with a character house on it, I'd suggest moving onto a potential development site without the character issue.
     
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  20. Serveman

    Serveman Well-Known Member

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    One property expert has gone for Adelaide first then Canberra and Brisbane for 2020. Not sure whether pending QLD 2020 election in November will slow things down or not.