QLD 2020 is the year for Brisbane!

This is a great sign for Lutwyche and surrounding Grange/Gordon Park/Kedron.. the area needs a complex like the one at Coorparoo

Integrated Mixed-Use Development Within the Heart of Lutwyche Proposed - Wilston Grange News

 

Apparently a 69% clearance rate for Brisbane. Very solid.

attached is Westpac's chart showing the strength of the Brisbane market

 

For Brisbane that's very good, considering it's not a auction market. The general feedback I'm getting from open homes is that there's no more a dozen or so people but more like 70 to 100 people, for inner and middle ring high demand properties.


By the time the situation is clearly reflected in the numbers, it's all over by the shouting to get any sorta deal in these areas.

 

Yep getting the same feedback, days on market is one thing that’s rapidly decreasing middle/inner ring, often selling first or second week from what I’m seeing. Average renovated house in Everton I viewed had 13 offers on it first week and wasn’t even a good property, just had a paint and freshen up.

 

Good point and seeing the same decrease in DOM.

 

I read an article in the paper the other day saying there has been a significant increase in buyer’s agent usage for owner occupier purchases.. that’s definitely new. Seems like fomo is gaining momentum

 

Pretty much every house under 500k under offer on the peninsula (Margate clontarf redcliffe)- wow!

 

I’m not sure that’s correct realestate.com says 49%

 

Is it for both Brisbane and Qld?

 

that’s a Queensland stat not Brisbane.

You can see every suburbs sales if you click into
It

 

Ahhhh true .

 

I went to an auction this weekend in Kedron. A middle ring suburb in Brisbane’s north 8km from CBD. The 2 bed 1 bath 600m2 house at auction attracted 14 registered bidders and sold for 835k. A very good number for 1930s Queenslander in average-ish condition.

Thoughts?


28 Goodall Street, Kedron, Qld 4031
28 Goodall Street, Kedron, Qld 4031

 

That's a great result, but I can see why there'd be a lot of competition.. 600m2, close to great schools (Mount Alvernia & Padua), and the house looks like it's in great condition. It's a great pocket in that part of Kedron - lots of nice renos and new houses. Only problem I can see is that it would cost a bomb adding a third and fourth bedroom with that layout. They'd have to raise it (or risk losing a lot more yard space), then they're stuck with upstairs/downstairs bedrooms, which isn't ideal.

Inner city suburbs close to good schools are getting hot.. we're getting invaded by sydney folk at the moment

 

Q

kedron is definitely heating up. And I wonder what happens to those 13 bidders that missed out.

809m2 splitter development block in the avenues just sold for 1.288 mil. Putting land value for that pocket at over 600k for 405m2. possibly part of the reason buyers are willing to pay up for good sized blocks. Even on a street that is constantly backed up with school traffic during the week. and is a thoroughfare to the Coles on Gympie rd.

 

Wow.. that seems really high. I'd say the developer may have to wait quite a while before the numbers stack up on that one.. and bleed holding costs in the meantime.

I saw a 3 bed house in Bardon on 405m2 sell for over $1.2m over the weekend. I think the frenzy has well and truly started..

 

Investors? Or people moving to Brisbane?

 

From talking to agents there is a strong demand for owner occupiers looking to move to inner city blue chip areas, close to good schools..
We've had a family move in next door. Also reading on the community facebook page of mums reconnecting as they've moved from Sydney and their kids start prep.

 

Would be interesting to know where from Sydney they're from eg a house out West in Syd would be comparable to decent house in Kedron (from a price perspective).

 

The latest stats for stock on market show a tick down for Brisbane and a rise in Sydney / Melbourne which is what I was hoping for

If it wasn't for Corona , I'd be expecting Brisbane to start moving further .

But with Corona , I think all bets are off over the next few months

With 911 , the market ignored it for a couple of weeks then it hit the market . We sold about three days after 911 and bought 3 weeks later ., Totally different markets.

A month after Lehman brothers , the Sydney market was dead .

The only thing with this , is it might drive some people to buy so they can move into their own home quickly .

Cliff

 

Looked up for vacancy in kallangur, and is decreasing which is good. Did the same for Mount gravatt east.