QLD Brisbane is booming 2021

@melbourne171

Hey mate, it’s better not to post your property address for everyone because people with CoreLogic subscription will be able to know your names/details.

Btw, it’s 615 sqm? Nice position but not sure if the road is busy.

 

Yeah I remember there’s one last year asking 600k only, unreno, also 800ish sqm. But I reckon yours looks good value now.

Edit: that’s actually the same property I was looking at last year lolll, asking 600k before the reno they did.

New robes, lights, fans, all round fencing.

 

I removed street name.

 

I noticed something interesting the last few days:

A few properties I've been watching at in inner ring Brisbane on REA (sub $2M) bracket that were originally listed as "For Sale" or "Auction" are now listed as "Offers over $1,xxx,xxx".

Seems like perhaps seller expectations are now surpassing buyer budgets and things are slowly hitting equilibrium?

 

Maybe the calm before the storm of southern buyers being able to get on the ground up here , I think that will kick things into another gear again . This could be the perfect little opportunity to buy for anyone ready to pull the trigger. Most banks etc predicting a 10% rise again next year for Brisbane and they tend to be quite conservative and that is an average of all areas and property types (units etc). Most likely anything bought now will look like a bargain in 12 months time

 

It looks like it could be another double digit for Brisbane in 2022.

 

It will be. The top end of town now is worth $1.5. That’s still half the cost of the average inner to mid ring house in Sydney. Locals who don’t know what’s happening in Sydney and Melbourne are about to get a rude awakening.

 

Not surprised....I reckon the craziness in the market will disapate in Qld. In particular as more stock comes on and the borders open and southerners have more time to look

However pric s will still be on a upward trend for all of 2022. The growth will push out from inner to outer suburbs.

 

I’ve quoted & spoken with 6 interstate mover companies this week to get back to Brisbane mid/late December

They all said the amount of enquires and bookings in the last 2 weeks since QLD announced boarders open Dec 17 has been hard to deal with. All moves from Melbourne to Brisbane at unprecedented levels.

Im calling it now i say another 20% between now & June 22. The next 3-6 months could be the strongest growth we have seen in Brisbane yet IMO

 

Ouch, that would be $3000/sqm.. but I'm guessing that would include demo, excavation/retaining, pool, professional/council/DA fees?

Is it not tempting to buy already built or you're very keen on a particular build?

 

@Codie

Hey mate, just nice you’re online. A bit off thread topic.

I’m thinking main roads, with so much discount currently in Brisbane from one/two streets away. Do you still think the difference will widen? Electric cars are coming soon, definitely this decade. Main roads will be much quieter…

You know some outer suburbs main roads only offered like 5-10% discount in Melbourne. But Brisbane currently 10-20%

 

That's an interesting point.. personally I don't see the difference disappearing.. there will still be trucks on the main roads, and most are concerned about safety of their children/pets (regardless of electric cars) and parking.

 

Spot on mate that’s all up including a nice pool . I am hoping to keep it to $1.1m but I can already tell it will creep up towards $1.2m . We already own the house so now I am just keen to knock it down and rebuild rather than pay stamp duty and sales com etc again to find another property . And I do have a pretty specific build I want to do (modern Mediterranean style)

 

I also expect the societal impact of self driving / electric cars to be monumental, but it's going to be a lot longer than a decade IMO. With the time frames I'm thinking of, I probably wouldn't be making any investments based on that.

 

Yeah, it’s definitely less desirable. But the difference is now too big that friends from Melbourne are saying it’s good opportunity to buy on main roads in Brisbane.

Or is it just the tolerance of Melbournians are higher than Brisbanites lol. Most of the time you can’t even get 10% off main roads in Eastern suburbs of Melbourne

 

I think its always been a luxury in Brisbane and the gap hasn't always been that big in the majority of suburbs. IE not too long ago, you could buy on a Quiet street in Stafford/heights for about $80-$100k more than buying on Appleby or Webster so it always made sense. I only see that gap widening as prices rise.

Take Hawthorne/Balmoral for example, the difference between the same property on riding road/Hawthorne road vs one of the quiet streets can be $200-$400k

Its not only noise, aspect, safety, but for me street appeal, you hardly ever see nice streetscapes on a busy road, no nice tree's or well maintained gardens (I'm generalizing) Its aspirational to live in a nice well maintained street so i cant see that gap closing long term.

It might be closing right now due to low listings/stock and interstate buyers not understanding area's, streets, etc. But they will figure it out.

 

I think the main road discount is going to start to erode as more developers start landbanking in anticipation of zoning changes. Brisbane is still far behind Sydney/Melb in terms of density but in the next few years population growth and price increases will leave BCC no choice but to adapt.

 

Yeah the ones with potential for higher rezoning are always worth keeping till they ripen.

 

I have a few that might be rezoned.

One is behind a major shopping centre.

Another is 300mtrs from a major road and shops.

Another is directly next to an existing town house complex.

I need to start praying to the rezoning gods.

 

Electric cars will become the norm sooner than 10 years..in 10 years you probably won't be able to buy a purely ice car. The manufacturers just won't be making them.

Still, electric cars still make whooshing noises as they go past, not much different to a quiet new car. You'll still get road noise. Maybe eventually there will be hydrogen trucks, but they still will make noise.

I think at the moment fomo will mean main road props will get some good prices until the boom ends. If somebody desperately wants to move to BNE they might have to compromise a bit to get into that suburb or catchment they want, then move in a few years.