Brisbane land values rise 10 per cent

Discussion in 'Property Market Economics' started by Sackie, 3rd Mar, 2016.

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  1. big max

    big max Well-Known Member

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    Yes. I agree. And then add the light rail into the mix. And NSW interstate buyers moving into the market. And all the massive developments and infrastructure in the pipeline ... all looking good!
     
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  2. big max

    big max Well-Known Member

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    PS - I think next 2 years will be really strong due to the Games effect. And I'm talking 15-20% pa next 2 years.

    As for what happened after that, I believe, for a range of reasons, that there will be a longer term "halo effect" with a "once in a lifetime" decade of growth ahead. Anyone who invests now really will be nicely setting themselves up for life.
     
  3. el caballo

    el caballo Well-Known Member

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    @big max

    In your view, are the suburbs of Holmview, Pimpama and/or Nerang included in your bullish forecasts?

    Cheers
    Greg
     
  4. wylie

    wylie Moderator Staff Member

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    Son's Mount Gavatt East went from $420k to $500k. I make that about 19%.
     
  5. JDP1

    JDP1 Well-Known Member

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    Haha...I like your style...about as good as mine..'..halo effect'..'once in a lifetime.. '...:)
     
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  6. Mel_C

    Mel_C Well-Known Member

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    Greg I went and looked at cheapie in Nerang 2 weeks ago....had 50 plus people at inspection. The backyard fence was covered in barb wire. Went under contract though straight away :) Nerang has also gone up about 10% over the past year. Nerang, Carrara, Highland Park are all seeing good growth as they are the "cheap" suburbs of the coast but central to everything. Pimpama is different not really the gold coast and to much land to be developed.
     
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  7. Bran

    Bran Well-Known Member

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    mine 470 to 560 and 390 to 445 (from memory of last night... was thereabouts)
     
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  8. Jobeki

    Jobeki Well-Known Member

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    500k to 600k in MGE here... pretty happy given we paid 650 for a 5 brm house 15mths ago
     
  9. samiam

    samiam Well-Known Member

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    seems like MGE rocks!
    Mine in Moorooka - 11%
     
  10. RetireRich101

    RetireRich101 Well-Known Member

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    Why are some people are crying about Brisbane land value increase in another post, and yet cheering here?

    OSR land value does not directly reflect property value increase in an open market or bank valuation. However it does directly reflect how much land tax you have to pay or when your threshold is breached.
     
  11. gman65

    gman65 Well-Known Member

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    20℅ for mine..ouch, tenants will not like the rent increases..

    I swear that the land valuation has gone up 100% since purchase, yet property definitely hasn't. Something is a bit whacky.
     
  12. wylie

    wylie Moderator Staff Member

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    Who's cheering? :rolleyes:

    I think it sucks when they don't increase the land tax threshold.
     
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  13. RetireRich101

    RetireRich101 Well-Known Member

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    yeah I envy some people are paying $6500 land tax and brags about it :rolleyes:
     
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  14. KayTea

    KayTea Well-Known Member

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    I'm not too far from you and got 19.4% for mine, too. Only bought it as a PPoR in the middle of last year, and have done quite a lot of reno work since moving in, so I'd be interested to see what an agent thinks I could actually sell for now.
     
  15. wylie

    wylie Moderator Staff Member

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    I'm not sure if you think paying $6k in land tax means someone is rich. We are paying over $6k in land tax on just one property.

    If I've ever mentioned that house and the land tax, it is not bragging. It is complaining that the thresholds don't move in Queensland. We are losing one quarter of the rental income directly to land tax, before any other expenses are factored in. This house is held in a trust, which has a lower threshold, but even if land value was under the threshold, we still cop some land tax.

    I chatted to a local shopkeeper who used to pay over $100k in land tax when he held over 30 properties. He's reduced his holdings but still pays $30k (I think).
     
  16. Inov8ive

    Inov8ive Well-Known Member

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    Another 5% for Keperra but 15% for my Chermside property. Not reflective of actual property value IMO. Keperra has increased by a good 10% and Chermside has not moved.
     
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  17. Gockie

    Gockie Life is good ☺️ Premium Member

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    So it it becomes too much and unworthwhile, sell and buy shares. But you get hit with the CGT stick though if selling...

    Anyway, the individual threshold in Qld is much higher than in NSW and homes in NSW typically have a larger land value too than the same in Qld... the thresholds for NSW are not really keeping up with Sydney land values. Suppose it helps stop Sydney being completely investor land.
     
  18. wylie

    wylie Moderator Staff Member

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    That's what we are doing, but not primarily because of the land tax. We will put my share into super or reduce loans... not sure which yet.

    Not much CGT on this particular sale as it was paid when this house went into a trust. It went over at quite a high value (pre GFC) so CGT isn't a big issue this sale.
     
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  19. sash

    sash Well-Known Member

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    I hear ya....mine jumped from nil to 6500 overnight...what really surprised me was the land value attached to units in the inner city....those jumped big time.

    If that is true...it might be very attractive for a developer to approach the owners and pay a decent price and redevelop the land for what it is worth.

     
  20. RetireRich101

    RetireRich101 Well-Known Member

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    No not at all. In your situation, your one property alone is 600k in land value and you put in a trust/company threshold which you incur a 6k land tax on that property alone. If you put the property in individual and/or joint names you may reduce the amount, but it is a personal situation thing and you may not have this luxury to put this property under individual/joint names.

    But just saying for someone who's individual property value is 150-300k, you can really optimize this in QLD for multiple properties purchases.
    I incur over $1m in land value this year but I pay $0 in land tax, at least for this year anyway.
     

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