QLD Brisbane is booming 2021

May as well post what is blatantly obvious right now..

I think agents may be a little inexperienced with this one, as price wise I'm not sure they are extracting full value yet...just happy to get a fast sale. Soon prices (houses only) will start to show some very healthy growth in many sub 20km areas..

I have not seen this in 10+ years.

Covid may still stuff it though, still that real possibility at this juncture.

 

One of my IP's was bought at the peak of the last boom (2008). Thankfully it's just one. A hard lesson to learn, but at least with patience I'll finally see it deliver a ROI.

 

Giddy up Brisbane!!!

Time for our beautiful sunshine city to shine!!

I wish all the property owners in the entire of Brisbane and surrounding councils whether it be Logan, Moreton Bay, Ipswich or Redlands all make an absolute killing in 2021 and beyond.

Its about time and I'm absolutely loving seeing this city finally get appreciated as much as Sydney and Melb.

 

Gman where did you pick up your latest one? We've heard so much discussion about the north side, all of mine are south.

 

My Upper Kedron has done about 15% in the last 2 years, even if an estate area because now prices are higher with the half land. I am unsure of.longer growth, but stock is low right now while builds still go on.

My Geebung seems positive, still waiting a little on that but looking good,.. pulled up by Wavell Heights, Chermside, etc .

Sadly I did not/could not afford to buy within 10km of CBD.. Wilston, Gordon Park, Ashgrove, The Gap, etc ..but they seem be going very well.

What I am hearing and seeing is places sold within week of listing. Following a friend's sale but they're confident in will have a contract within 2 weeks of listing. I believe after a weekend of hiatus due to lockdown, this weekend could be big.

I am keen to get out and attend a few OFI and see for myself this w/e Last one in my area had about 15 cars, unheard of 2 years ago

 

Please please don’t say it early-I am superstitious every time someone say B will b, look what happened just wash your mouth

 

I thought you were worrying about Brisbane is going up. Now you cheer here?? Did you manage to buy any?

 

I already have > 8 properties in Brisbane. I'm looking right now for another but the competition is very strong at the moment which is making it harder for me to buy more.

 

Investors will start to pay what PPOR buyers are paying because in 24 months time they will be ahead anyway

Competition in inner and middle rings is too strong and vendors are cottoning on to the big uptick in demand

I'm starting to see more media stories about Brisbane price rises so it's become common knowledge

 

As a first home buyer it's so tough! We have been looking seriously for 4-5 months and narrowly missed at 6 auctions now. Always the second last bidder but buyers agents or boomers repeatedly beat us. Even when houses are in our budget, we have to pull out because we're more worried about the bank val when houses are going for $100k+ over comps. We even got a valuation done for the last one, a place in Wilston, we were willing to go up to 15% over valuation but it went for almost 25% more than the top end.

It's disheartening after saving for a deposit for 18 months, having the cash sitting there and not being able to spend it!

 

It doesn't help with all the stimulus government throws at property...

 

Hi Lucy

Is you budget based on having 20% and paying no LMI

because whilst not paying LMI is a good thing

If the market is racing away sometimes the opportunity cost of prices rising can be more expensive than paying the winning bid required and copping the LMI cost

Its what happened to lots of people in Sydney

 

Yep. I'm seeing the price rises every week. Its hard for new buyers as they will most definitely need to pay over asking price. That is almost certain in Brisbane right now.

I havent seen $100k+ over asking that is insane for Brissy - but I have seen $20-$75k over asking. If it keeps going at this rate Brissy is going to become as expensive as Sydney. Hahaha

 

I feel for you, Lucy. Wilston is such a popular suburb. Is it worth going out further?

I'm finding it hard to believe how fast my properties are going up. My only downer is a unit I've got in Kedron,

 

You were so sensible hanging on. Sooner or later it will boom. I remember buying a property many years ago when it was still down $10,000 after 5 years. Fortunately it boomed after that.

 

I will have my reservations on the Brisbane boom.
I was excited back on 2014 and I thought it was going to follow Sydney rise as it was historically 24 months behind in price rise. Guess what it didn’t happen.

I won’t be stupid enough 2nd time to get excited and be let down again.

2 House at Stafford
1 Townhouse at Wooloowin
1 House at Morningside

spread over North and South side.

 

Yes in the past there were a lot of false starts. This time however I have never seen this many people at open homes and houses selling this fast or this high within a week or two of listing. Paying over asking in Brisbane was unheard of in the past - these days its almost guaranteed if you want the house.

Plus this time everyone is on the same page. Banks, Property Advisors, Buyers Agents, Investors and Home owners alike are all reporting pretty much the same thing across the entire region. This time its definitely different. Add to this the lowest interest rates on record and will remain that way for the next 3-4-5 years. Also people can see how strong property is during this Covid times.

So many people lost a tonne of money on the share market panic selling but property has proven itself to be a rock solid investment no matter where you are. There were a tiny group of people who panic sold their property in March/April who would be kicking themselves right now.

I think the way property have performed during 2020 has solidified and cemented in majority of people that its an investment class that cant be beat.

 

@gman65 you make a great point, I agree with the agents being inexperienced with boom times. You only have to make a few calls

There’s a level of arrogance with Melbourne and Sydney that I think helps extract higher pricing, because the demand is always there. However, they aren’t used to it in Brisbane and I don’t think so sellers as much favour.

As everything is mostly private treaty in Brisbane, getting the highest price really does come down to a good agents negotiating skills between parties and let’s face it how often do they get to practice it in Brisbane

 

We are starting to look out further, but even Kedron, Stafford, Wavell etc. don't have much on the market. It's a shame to give up on what we want when 6 months ago we could've bought in our preferred suburbs! Thinking about increasing our budget instead seeing money is so cheap. And just hoping more houses pop up so there's less competition.

We will get there eventually

 

By "they" I think you mean youngins. Remember that the early 2000's Brisbane boom was bigger than Sydney or Melbourne. Yes in absolute terms Sydney and Melbourne were always more expensive, but in investing, absolute terms means nothing. In relative terms I believe Brisbane was the best performer by a country mile. I think the more experienced agents will remember what it was like. It's only the youngins that think this is all brand new.