QLD Brisbane does NOT look good

That RealEstate article above is about the inner 5 km radius. This region has very few houses left and is mostly all apartments. The article was about renting out apartments/older units in that same vacinity.

 

coming from a brisbane agents point of view (don't hate me lol) , i hate to say this but i agree with Tenex and that the brisbane unit market is in an over supply situation and prices have dramatically gone down.

i have seen units that i used to sell for $500K go all the way down to $400K in the inner cbd..rents have come down as well by as much as $100 per week in some cases

in saying that, even have been doing this for almost a decade now, very hard to time the market and i'm seeing savvy investors from interstate snapping up these bargains now.. so whilst a lot of units are on the market for sale, the good bargains are being taken straight away

i guess for people who are taking the long term point of view, this is the counter cyclic way that some people would invest

i do believe that compared to other states we are quite cheap and if we do even reach half the value of sydney and melbourne i think we've got some good growth ahead of us, but for the unit market i think that's still 3 - 4 years away

with houses, that's surprisingly going strong..i honestly don't know how long it's going to last and whether we're at the apex and we're about to tip over , but people are still buying

not many are turning up to the opens for units, but with houses that's still strong and to be transparent that's the only way i assess the market now, how many people show up, put offers and actual contracts through rather than all the media bs out there

just my 2 cents

 

@Tenex - housing market and unit market are distinctly but different and buyers in Brisbane won't flip from a house and land to a unit because it doesn't suit their lifestyle needs. Brisbane locals are not keen on units and comparing them for value isn't accurate.
Culturally, Brisbane people want homes and that's what will hold that market up while the unit market is falling.
Have you considered that the reason that the units are falling in price is that no one wants them and demand is low. They want a house and a backyard....
Sydney and Melbourne have accepted unit living, not Brisbane.

 

not Brisbane - Yet, Brisbane is probably 10-15 years behind the trend compare to Sydney. Once their commuting pain goes beyond the pain threshold and the city becomes more developed with better and more life style options then more people will prefer to live in the city to be close to jobs and actions. I think Sydney has reach this point.

 

Ha ha ha.
Nice one JDP1

 

To balance things out, what about this one
Watch for properties selling before they can go under the hammer as Brisbane’s auction market runs hot and this one
Property industry confidence in Queensland real estate is on the up
I think that you are being very selective. Let's get a bit of balance in this discussion

 

No Cookies | The Weekly Times

https://www.google.com.au/url?sa=t&...u4gBCCooATAA&usg=AOvVaw3mSgwPNtZa30iPN3dTRpg6

The interstate migration number is going up and up

 

lets not all gang up on tenex here....
I created this thread for the bears to come out and roam freely.

 

Yep ominous signs for QLD...

The $8b exodus: Sydney home owners are selling up and Queensland is the big winner

 

Below is what I am hearing from Brisbane agents:

1. Stock issues - agents have plenty of ordinary stock but good stuff is harder to come across than it was earlier in the year and last year;
2. Price disparity - the difference between seller expectations and what agents think the property is worth is much higher than it was;
3. The inspection volumes are still high for good stock but the urgency is not there, people taking longer to make offers;
4. Good stock is still selling at top (even record breaking prices).

Gold Coast and Sunshine Coast seem to be on the up. Brisbane volumes seem to be down substantially.

 

Good insights @RPI - I'm reading that these are general comments across Brisbane - houses, townhouses, units??

 

All i know is (based on a few valuations) I've made good money in Brisbane over the last 3 years and i suspect will make alot more over the next 5 years. Personally i believe for every property I do well in wherever I buy, I naturally expect 4 other 'investors' will do poorly in or mediocre at best. The rule of 80/20, it's like clockwork without fail.

 

agree 110%

 

A person I went to school with has lost a fair bit of money through property and had only bought in major capitals.

I myself have made money easily sometimes people just need to be patience and review what they did well but more so why it performed the way it did and if they could change it.

Our purchase we made last year the suburb has grown over 14% in the last 12 months, so I would think we made money on the most recent purchase. However a property we were bidding at in Melbourne that we choose not to bid further would be worth about 22% more in the same time period.

I would still take 14% growth any day of the year (especially if sustainable - but doubt it) but I would of been happier if I got the 22% but everything is easier in hindsight too. However there is always the 'what ifs' and if the suburb didn't grow by 22% and instead stayed the same or only grew by 8% then I would be very happy with my way.

To give people feedback on how Brisbane market is going from a sellers POV;

My grandparents have just sold their house in Brisbane (suburb 11km CBD) and was sold within a week. First and only open home had about 20-30 groups through and there was an offer a couple of hours after the open home.

To me the marketing wasn't great and I would of changed how it was but with the result was much than I thought it would be.

So from my sample size of one - it appears Brisbane is turning.

 

I find it a bit funny one poster is posting material against what I have mentioned, in the name of providing a "balanced view". In case if you didn't notice, I am the only one that has a view that is different to all the other posters on here.

At the end of the day, As I said earlier if you have convinced yourself Brisbane is going to give you yield because you have bought there and would like that to happen or you are planning to buy there then all powers to you. You dont need to convince me

 

Think home prices only go up? Not for this Brisbane apartment owner

Can't workout why...

 

From my perspective, I would be choosing a house with land content when they are both the same price. I'm comparing a 1-1-1 unit 20km from Sydney CBD being the same price as a 3-1-1 house with land 20km from Brisbane CBD. I tend to think that land appreciates and buildings depreciate

 

Manly West, 3 bedroom house. Though I haven't looked at the market outside of my own place to determine if I got lucky or if my results are truly indicative of the whole area.

Rent is definitely not going up. We managed to find a new tenant with no vacancy period but the rent dropped $15 from where it's been for the past 3 years.

 

In the last 3 years we have rented twice and bought twice, all in the 4 - 8km zone from CBD. All freestanding homes. What we saw on the ground consistently was average condition homes hanging around a bit, but good condition and well located homes moving quickly. Mid week inspections, large # at auctions, plenty not making it to 1st inspection and developable splitter blocks virtually non existent. Out of renting for a year now so cant comment on that front.