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Are Brisbane property values increasing?

Discussion in 'The Buying & Selling Process' started by beachgurl, 14th Oct, 2015.

  1. beachgurl

    beachgurl Well-Known Member

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    I've mentioned in another thread that I'm looking to sell a house in Chermside. I've had two agents have a look at it and their appraisal figures have come in at over 70K difference. One agent is using comparable data from over 12 months ago (there isn't much to compare with any more recently) and says that the market hasn't risen in this time. Is she correct? While there aren't any direct comparables on the market I got a general feel that there has been an increase in north Brisbane. Also, would you directly compare Chermside with Geebung and Virginia? She has dismissed any property sale figures from Wavell Heights as she believes that WH is significantly higher in value.

    Would like to hear from those who are familiar with north Brissie and how they think the market has moved if at all? thanks in advance.
     
  2. Mumbai

    Mumbai Well-Known Member

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    No ideas about the north, but the property I bought in south last year August went up 15%
     
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  3. Kangaroo

    Kangaroo Well-Known Member

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    which suburb is that if you do not mind me asking ?
     
  4. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    If a selling agent is using 12 month old comparables, they are either

    a) incompetent
    b) lazy
    c) stitching you up for an easy sale
    d) all of the above

    Get 3 appraisals and maybe even pay for a valuer
     
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  5. Kael

    Kael Well-Known Member

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    Agree with Dave - Get another appraisal done, maybe even another two more, and get a valuer to do a valuation. It could end up being money well spent with the massive price difference between the real estate agents appraisals.

    Are both the agents local to Chermside?
     
  6. Mumbai

    Mumbai Well-Known Member

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    Rochedale south
     
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  7. Elives

    Elives Well-Known Member

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    my friend bought a 3 bed house 600m2 on webster road near big roundabout in chermside west 12 months ago for 330k i'd say it'll be worth around 380-400k unrenovated (he's renovated it) so 400-450k
     
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  8. Logan

    Logan Well-Known Member

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    I have been watching Geebung and Zillmere for the last year and believe yes there has been an increase - at least 10% with quality houses moving within days of coming onto the market. Even the crappy fibro boxes have risen over 5 %. I had some interest in chermside but it depends how close to the 'tower' blocks you are.
     
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  9. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Get your broker to order a val - you can save a few dollars that way. :)
     
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  10. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I can't speak for the whole market Moorooka has certainly moved plenty in that time.
     
  11. juzzy

    juzzy Well-Known Member

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    I haven't been to Rochedale in about two years, but last time I was there, there was a lot of land and new houses going up. Is it still like that? Could that be why it hasn't grown much?
     
  12. vbplease

    vbplease Well-Known Member

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    Just wondering if this would be done by the bank, and by a bank employee? likely on the conservative side? or by an independent company like HTW?
     
  13. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    It would be done by a valuation company. It would undoubtedly be more conservative than a RE figure, but a good figure to have in the mix to balance the exuberance of a (possibly inflated) RE appraisal.
     
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  14. Whitecat

    Whitecat Well-Known Member

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    Wavell is maybe classier than chermside but houses really easy walk close to chermside mall (but not on busy Road )should be worth more than an equivalent in Wavell just for convenience and potential later to infill.

    I don't know about chermside but I've seen Wavell heights go well in the last year. Houses sell quickly. Compared to a few years ago anyway. Definite rise here from what I can see
     
  15. Whitecat

    Whitecat Well-Known Member

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    That was an awesome bargain even if on a busy Road. 330k was way too low
     
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  16. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    + 1

    ta
    rolf