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QLD Brisbane house prices set to fall 8%?

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

  1. Vin

    Vin Member

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    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

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    Academics. Enough said.
     
  3. willair

    willair Well-Known Member Premium Member

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    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

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    One moment please....

    Sorry.

    Computer says No....
     
  5. radson

    radson Well-Known Member

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    Fairfax are certainly getting better at their click-bait. Now citing un-reviewed papers.
     
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  6. beachgurl

    beachgurl Well-Known Member

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    Steve Keen was an academic...
     
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  7. jaybean

    jaybean Well-Known Member

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    Oh it's not even peer reviewed?
     
  8. Sea Eagles88

    Sea Eagles88 Well-Known Member

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    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

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    86% of all statistics are made up.

    pinkboy
     
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  10. turk

    turk Well-Known Member

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    WattleIdo and bobbyj like this.
  11. MTR

    MTR Well-Known Member Premium Member

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    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

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    Now that is just dumb
     
  13. turk

    turk Well-Known Member

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    In what way is that just dumb?
     
  14. CU@THETOP

    CU@THETOP Well-Known Member

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    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

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    I bet these guys caught the "May dip" in their data and used it to project the price falls.

    At least they're honest...

     
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  16. MTR

    MTR Well-Known Member Premium Member

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    Turk re-read the article, misunderstood, for once I do agree with this economist view

    MTR :)
     
  17. turk

    turk Well-Known Member

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  18. mitchNik

    mitchNik Member

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    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

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  20. bobbyj

    bobbyj Well-Known Member

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    I reckon they're buying up in Brissie and want all the properties cheap!