QLD Brisbane is booming 2022!

On the Camp Hill ones I'd take it with a grain of salt. The 3.5m target was a bit of a fantasy I think. Camp Hill is great but there are only a few spots on the suburb that would hit that value at the moment. These places would be fair value in the high twos, early 3s mark.

139 Indus Street, Camp Hill, Qld 4152 https://www.realestate.com.au/property-house-qld-camp+hill-139010079

This was one of them above. It's more Carina than Camp Hill lol. It's a big house and very well done but not a spot that looks good value in that range.

 

oh fair enough, i was more meaning the one that went to auction

 

Yeah fair enough. Open homes on the Gresham St house for this week got cancelled this afternoon so I expect they've got an offer they're happy with now, we'll see how it went soon enough.

 

time will tell. you got a guess?

 

3.55m is my guess

 

https://www.domain.com.au/news/get-...re-sellers-are-dropping-their-prices-1142563/

Get it for less: The Brisbane areas where sellers are dropping their prices

How did I missed this article???

 

"Prices are still rising – but not at that same pace that they were earlier this year.”"

Still rising though.......still getting more expensive not cheaper. Its just that sellers absolutely price gouging buyers have had to reduce their profit margins slightly.

They are still laughing. Up 30%+ over the last 18 months. Reducing their profit margins buy 1-2% they still grinning ear to ear.

I reckon the rate of growth will slow to 1-2% until spring selling season and we'll have to evaluate then. Brisbane still provide immense value for money imho. If the bonds markets are right they are expecting interest rate reductions by mid 2023.

IF that eventuates we'll see another asset boom towards end of 2023+

 

I am listening to song from Salt and Peppa. They keep saying it pump it pump it .. makes me think of ya.

Back on topics talking to quite a few agents... all reporting market levelling off no significant drops yet but reckon it is coming. Some saying 10-15%.

 

Two tiers at the moment. There's been a definite slowdown in activity but I feel the split in which suburbs are still rising v those which are stagnating/declining, is the proportion of newer/finished homes v older/renovator types. Camp Hill powering on vs say the Stafford Heights/Geebung types snagnating.

Finished product will continue to hold their price if not even inch ahead, while places that need some work / total renos / knockdowns will drop off reasonably hard.

 

That is what I am hearing nicely renovated and new builds holding their own. Albeit no more FOMO.

Exodus of people to list....will be interesting to see prices in 3 months. Growth in Brissie about to reverse??

 

https://www.realestate.com.au/property-house-qld-rocklea-139537739

I know it's in a flood zone -insurance will be high -but 'IF' this sells for less then 400k and bcc land values the way they are then anyone with basic trade skills could turn this around very quickly..imho..

 

Nice and close to Bunnings for the Reno.

That area floods extremely badly though...

 

quick fix it up and flip it the next owner sucker. They can worry about the once in a 50 years flood.
It just flooded this year. It won't be for another 10 years at least.

 

I know -you line up the first goal post at the cross-bar as you drive into that street from Salisbury end and that's the 2011 level-The last one this year was about 500mm lower then 2011..
I have just about finished one property walking distance from that house and been living there while having covid -apart from the floods it's a quite location..
What do you think it will sell for as this is only the start of the sell-off..

 

Just re-listed with new agent. Open this Sat

 

Yep sold within 48hrs

 

Just watched a passed in auction in Mansfield.

https://www.realestate.com.au/property-house-qld-mansfield-139475119

Buyers got up to 1.165m, then consecutive vendor bids of 1.2m and then 1.3m. No surprise there was no further interest afterwards. Nice place but looks this vendor, and vendors generally are getting a bit carried away if they're still expecting continue topping what the last/most recent sales were in this interest rate environment.

 

Biggest impact is buyers just don’t have the same borrowing capacities they had last year/6 months ago/1 month ago.

And buyers will have even less borrowing capacity next month. And again in August…

 

Auction clearance for Brisbane Domain reporting at 68%. HUGE increase from the last 2 weekends and the highest its been in since the first 0.25% rise. Its even higher than the same time last year when we were pumping full steam ahead.

What is causing the increase? Ppl starting to realise that rents are soaring and even if the RBA rise another 0.5% its still going to be at super low rates?

 

In Brisbane from what i understand by speaking to an agent i know, the buyers are still there. They might be able to borrow slightly less, but there's still high interest.