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QLD Brisbane looks good

Discussion in 'Where to Buy' started by Steven Ryan, 19th Jun, 2015.

  1. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I'm buying in Brisbane very shortly. My belief is that things look bright over the next 3-5 years.
    • With two consecutive blows (GFC, floods), Brisbane prices were atypically depressed.
    • The discrepancy between median house prices in Sydney, Melbourne and Brisbane sees Brisbane at the bottom of the heap by an unusually large margin.
    • Money goes a lot further in Brisbane now, twice as far as Sydney (based on median price houses).
    • Lots of investors and home buyers are priced out of Sydney and Melbourne now.
    • Record low rates.
    • Things are heating up in pockets but overall things aren't crazy. Yet.
    • The Aussie dollar looks headed further south which will stimulate tourism which makes up a small but significant sliver of the QLD economy.

    And lots of growth drivers are in place but without a crystal ball, no one can know what will happen.

    I wouldn't be surprised if we see insignificant growth over the next year or so but I would be a little surprised if the following period doesn't see reasonable growth.

    What are your thoughts on Brisbane (prospects, areas of interest or to avoid etc)?

    Who's looking to buy in Brisbane this year or next?

    Thoughts/comments?
     
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  2. sash

    sash Well-Known Member

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    I thought you had one on Brissie?

    I have a couple in Brissie already...
     
  3. bobbyj

    bobbyj Well-Known Member

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    I'm joining the SEQ party a bit late but I feel I've gotten onto the tail end of the Sydney boom which has seen my IPs see more CG than I would have if I had invested in Qld from 2013.

    Looking to buy now, hopefully 2 IPs this year.
    I'm looking at the northern Brisbane area.
    Most seem to be just a touch positive geared, will see more return with a depreciation schedule. Hopefully we see more CG in Brisbane than in Sydney from 2016 onwards.
     
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  4. See Change

    See Change Timing Lord Premium Member

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    Buying . Cheapies .

    We bought nice properties in nice areas in late 2013 when it was very negotiable

    I won't be surprised if people are surprised by how quickly Brisbane moves

    Cliff
     
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  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Not yet. I was originally looking in 2013 but went in Marrickville instead.

    I'd decided on Brisbane some time ago and have been on the ground and have had an incredibly drawn out (6+ month) refinance process. Cash landing any day now. Finally.
     
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  6. See Change

    See Change Timing Lord Premium Member

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    Good time to be hitting the ground .

    Maybe there's a potential for a lets hype Brisbane thread . Let me know when you've finished buying :D

    Cliff
     
  7. beachgurl

    beachgurl Well-Known Member

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    I'm surprised at how close you can live to the city for 600-700k. What do executives/partners of firms get paid up there? Is there still room for prices to move based on disposable incomes?
     
  8. pugstar205

    pugstar205 Well-Known Member

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    Sorry to sound 'bearish' ... But a lot of Sydney investors seem to be turned onto Brisbane simply because Syd / Melb are too expensive.

    Wages are lower in Brisbane than other major cities, a number of major infrastructure projects are nearing completion, there's a massive over supply of some stock types, and the current state government are focusing on debt reduction not speculative spending or growth.

    I personally love that so many interstate investors are gushing over Logan ... Please, please, please keep buying in that market.
     
  9. teg499

    teg499 Well-Known Member

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    For Sydney investors planning on buying an IP in Brisbane, do you prefer buying a house that is in good condition (no need for reno) or something that needs a reno?

    I can imagine it would be much more difficult doing an interstate reno in terms of finding good reliable tradesmen and organising the reno if you are interstate.

    I am considering Brissy for my next IP..all my previous IP's in Syd were properties that needed Reno..it was easy to do the reno since the property was close by..
     
  10. See Change

    See Change Timing Lord Premium Member

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    And that is one factor that will drive the market up especially when combined with the good returns you can get in Brisbane

    Cliff
     
  11. Jimmy Foxx

    Jimmy Foxx Member

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    I think there is good value to be had in the Brisbane inner 4 km inner city ring, mainly looking at 3 bedder townhouse style in the max 550 range. I think this type of property will do well in the next few years. Possibly Newmarket, Wilston etc.
     
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  12. See Change

    See Change Timing Lord Premium Member

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    Personally I think every thing will "do well " in the next few years

    Cliff
     
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  13. pugstar205

    pugstar205 Well-Known Member

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    True.

    But, I'd say some markets, not all Brisbane markets. That's the challenge isn't it, picking the suburb that will actually perform? There seems to be a lot of guessing and hoping for the best going on.
     
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  14. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Will do. Unless there are major hiccups, I will be done in August.

    Then we can drive prices up 30% with a thread ;)
     
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  15. See Change

    See Change Timing Lord Premium Member

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    In the current Sydney boom , everywhere has gone up . Some places have gone up further and some places have moved earlier than other , but I'd be interested to see if anyone can point out a suburb in Sydney that hasn't gone up .

    Interestingly , one of the places that has gone up the most is MT Druitt which is one of the cheapest in Sydney . I expect the same in Brisbane

    Cliff
     
  16. See Change

    See Change Timing Lord Premium Member

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    Gee ..


    I might have to pm you where I'm buying . Then we can concentrate our efforts on one suburb .

    Maybe we can double it :cool:

    Cliff
     
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  17. Darren A

    Darren A Well-Known Member

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    Do you think we should post some of this thread on MacroBusiness. Wouldn't their reaction be hilarious.
     
  18. See Change

    See Change Timing Lord Premium Member

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    They'll never change their minds .

    I've got better things to do than bear baiting .

    Anyway we have our own house trained bear so we don't need to go there .

    Cliff
     
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  19. Darren A

    Darren A Well-Known Member

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    Yes, but it would be amusing.
     
  20. See Change

    See Change Timing Lord Premium Member

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    More predictable