QLD Arise Moorooka, the new Marrickville.

and yet still got 656k...

 

I went to a property seminar a few weeks ago and the economist presenting said that Moorooka is an area to watch in the next few years.

 

Yep, close to the industrial stuff in Salisbury -- and not much else. Would be half a dozen houses north of the industrial amenity overlay actually.

Might take a few decades but willing to bet all that industrial stuff becomes med/high density residential eventually.

They might be on to something Remember any other areas they mentioned?

 

Hi Bran, although an old post I was wondering if you could provide a little detail regarding that agent? The reason I ask is we are in the process of our very first purchase which is in Moorooka and this is the agent handling the property and I guess just wanted a little insight and what to look out for. The property was up for Auction but we have put in an offer prior which is in the vendors hands right now.

Cheers,

Jeremy

 

What was the economist name?

 

Hi Jeremy, we've just entered the market as well, and we're first home buyers mostly looking in the Moorooka area. I've also noticed that almost every house this agent has put up has been for Auction! He seems to really push for this type of sale, and it might be because of the higher agent commissions/fees involved. If you do some research, and look at the properties he's sold in the past, they all seem to go for at least $70-100k over their estimated market value based on RP data. This makes me a little suspicious of any house he's got on the market atm - is he setting vendors up with unrealistic expectations of what their house is worth? And in turn, tricking some unseasoned buyers into paying way more than the house is actually worth!

Anyway, I digress, good luck with your house, hope it goes at a reasonable price

 

This aged well.

 

What’s the comparison to Brisbane as a whole?

very curious.. because your marrickville bet has paid off , even when measured relatively to other parts of Sydney, particularly in the established [not brand new] apartments category.

 

I don't have vs Bris as a whole data (anecdotally it's been among -- but def not THE -- better performing suburbs - change in median ~50% as of latest data I have and median sale price ~$1.1M). Recent bank valuation on my Moorooka house (paid $612k mid 2015) is $1.2M (too low). On a good day I'd get $1.35M IMO. I believe there's still enough left in this run that I'll be pulled equity AGAIN within 6-12 months but the real thing to watch is the NEXT 10-15 years for Moorooka. Still early in the gentrification of the suburb. Seems to be following a similar path to 2204, so far.

 

Welcome back @Steven Ryan! It’s been a little while now. 2204?! Seems too far away anyway Brisbane is too 2020 now- come and join us in Perth thread