Join Australia's most dynamic and respected property investment community

QLD Brisbane house prices set to fall 8%?

Discussion in 'Where to Buy' started by Vin, 13th Jul, 2015.

  1. Vin

    Vin Member

    Joined:
    13th Jul, 2015
    Posts:
    8
    Location:
    Sydney
    Hi everyone,

    I've been a lurker on Somersoft for a while now consuming every bit of information I could find to decide where I should buy my first IP. Goal is CG and my budget is ~ 550K. I've been priced out of Sydney and I'm eyeing out Chermside and its surrounding suburbs.

    I decided to use a Brisbane buyer agent as I am based in Sydney, but as I was about to sign and send the papers this morning, I stumbled upon the below article which predicts a fall in housing prices everywhere except for Sydney.

    It's based on a realestate pricing model some academics put together with no real explanation.

    What are your thoughts? Should I hold off on Brisbane for now?


    http://www.gympietimes.com.au/news/brisbanes-house-prices-set-fall-more-8-report/2703587/

    http://www.smh.com.au/business/prop...dneys-climb-then-plateau-20150712-giaesx.html
     
  2. jaybean

    jaybean Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    981
    Location:
    Melbourne
    Academics. Enough said.
     
  3. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    1,717
    Location:
    Brisbane..
    If you look at the numbers on the readers poll,33% think prices will rise and only 11% are worried about interest rates..
     
  4. Hanison

    Hanison Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    242
    Location:
    Brisbane
    One moment please....

    Sorry.

    Computer says No....
     
  5. radson

    radson Well-Known Member

    Joined:
    4th Jul, 2015
    Posts:
    828
    Location:
    Balmain
    Fairfax are certainly getting better at their click-bait. Now citing un-reviewed papers.
     
    Redom likes this.
  6. beachgurl

    beachgurl Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    455
    Location:
    Sydney
    Steve Keen was an academic...
     
    BlindBull and Propertunity like this.
  7. jaybean

    jaybean Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    981
    Location:
    Melbourne
    Oh it's not even peer reviewed?
     
  8. Sea Eagles88

    Sea Eagles88 Well-Known Member

    Joined:
    5th Jul, 2015
    Posts:
    65
    Location:
    Sydney
    good choice, go Brissy!!
    You want CG ? well you will get decent yield in Brisbane that's for sure. I'm sure within 10 years the Brisbane price will double (historically it seems to have doubled in 10 year timeframe), but I don't expect it to go gangbusters like sydney the last 3 years. And with the yield of at least 4% then you've gove 40% return purely on rental returns over the 10 years
     
  9. pinkboy

    pinkboy Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    919
    Location:
    Mackay, Qld
    86% of all statistics are made up.

    pinkboy
     
    Kael, BlindBull, Mancha and 5 others like this.
  10. turk

    turk Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    201
    Location:
    Victoria
    WattleIdo and bobbyj like this.
  11. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,518
    Location:
    Perth, Melbourne, USA
    He he, ain't that the truth, depends which paper, article, report you read, I really don't rely on stats, because there is so much conflicting information it's confusing.
    Also too many variables, stats are rubbery at best IMO, stay away from them, otherwise they will do your head in

    MTR
     
  12. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,518
    Location:
    Perth, Melbourne, USA
    Now that is just dumb
     
  13. turk

    turk Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    201
    Location:
    Victoria
    In what way is that just dumb?
     
  14. CU@THETOP

    CU@THETOP Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    227
    Location:
    Brisbane
    I went to an open house in Graceville yesterday (184 Oxley rd). Nice house, well presented, great garage, small block (405m2) and main road.
    http://www.realestate.com.au/property-house-qld-graceville-120122737
    Was 1st listed June 30. Asking price above 590k.

    15 parties went through but property was already under contract to a Sydney investor.

    Make of that what you will. I believe Brisbane is on the up. Just sayin.
     
  15. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    I bet these guys caught the "May dip" in their data and used it to project the price falls.

    At least they're honest...

     
    ej89 likes this.
  16. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,518
    Location:
    Perth, Melbourne, USA
    Turk re-read the article, misunderstood, for once I do agree with this economist view

    MTR :)
     
  17. turk

    turk Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    201
    Location:
    Victoria
  18. mitchNik

    mitchNik Member

    Joined:
    24th Jun, 2015
    Posts:
    7
    Location:
    Sydney
    How long have ''academics'' and the media been saying Sydney is in a property bubble.. 10+ years ... point: do your DD and if numbers stack up go for it... dont pay attention to that rubbish
     
  19. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,242
    Location:
    NSW
     
    Ramos023 and Jacque like this.
  20. bobbyj

    bobbyj Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    195
    Location:
    Sydney
    I reckon they're buying up in Brissie and want all the properties cheap!