Discussion in 'Where to Buy' started by Alex123711, 22nd Jan, 2020.
Any thoughts on the Brisbane property market in 2020?
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2020 is the year for Brisbane!
I think it has extremely good prospects over the next 3 -5 years . This year could see 5-10% growth in houses in quality areas
Could anybody explain why this property had achieved the sold price?https://www.realestate.com.au/sold/property-house-qld-moorooka-133830462
(I am planning to sell mine soon)
I just pulled up the BOQ app details for this and it sold for $1m two years ago. The format is different on the report and I cannot see what the UCV for the block is. But those views... (are worth money).
My thought was that someone might bulldoze this, build two levels and get fabulous views, unlikely to be lost.
Plus there’s not a plethora of 600m2+ blocks that close to city.
They sold at a loss then
I thought there wont be many who want to pay well above 1mil to buy in Moorooka. I am happy if they do!
That’s a lot for a rather crappy house in Moorooka I would have thought it would be worth $750-$800k at most. Have I been sleeping? Has Moorooka boomed?!
Brisbane apartment market has underperformed and will continue to under perform. Unless your investment is in MDR zone (5 storeys), these types of apartments are favoured more by owner occupiers. The inner middle rings will outperform other parts of Brisbane however entry point into these suburbs is around 800k for a house and 500k for a townhouse. Id certainly be looking at suburbs that border the inner middle ring parts of the inner north and inner east of Brisbane still within that 20-25km radius from the CBD. They seem to be more desirable and people are willing to pay a premium to live in these areas constantly driving up prices.
Apparently Bracken St is one of the desired streets in Moorooka. There were 10 active bidders on this property. I'm thinking there is a shortage of supply in the area as well. There were a few newly built also on Bracken that sold for $950k+ on 400m2 land.
Moorooka (despite it's reputation as Little Africa) has some very desirable streets. Big block and city views that can never be built out- sounds like a fair price to me.
This property sits at the highest point on Bracken St - so the elevation is scarce and clearly the view is uninterrupted. Other newer properties in this street on 600m2+ sites have sold for $1.4M in 2019 (#90) & $1.6M in 2014 (#92) so end values are proven for the scarcity. But it is very tightly held. Yes this property was purchased in 2018 for $1M then sold for $950K - not because the whole area has gone down in value but because they probably over paid in 2018.
Could you list those streets?
I think some part of Goodwin, Hillview, Northview Woodlea and La Monte streets?
I am not familiar with the term that you use to describe Moorooka's reputation. In fact haven't ever heard it described that way. Wouldn't it be fairer to call it 'cosmopolitan' or 'diverse'. Or is it the case that there are lions, giraffe's and elephants actually roaming the savanah in Moorooka.
I don’t like the term but I’ve heard it used to describe Moorooka many times. There are lots of Africa shops and restaurants in the area. And a large portion is the population is of African descent.
The suburb even calls itself that.
Moorooka Is South Brisbane’s Little Africa - Moorooka News
While I don’t agree with the term, I’ve heard it many times. I also was specifically told not to look at Moorooka as investment option due to rising crime rates. Statistics don’t support this perception. I couldn’t find anything that points to Moorooka being more dangerous or crime ridden than average.
I belive the poster is just highlighting the reputation that is fairly widely known in my experience.
Many suburbs have similar make up from different countries and has always been that way.
I don't see it negatively.
The elevated areas- mainly the Clifton Hill precinct and the streets adjacent to Toohey Forest.
I believe with prices at were they are at and interest from Sydney and Melbourne we are ready for a boom. One of the key drivers is affordability. Why is that a big thing... it is because it's not hard for a first home buyer to get into the market. Especially when lending gets easier we will start to see more first home buyers aiming to buy more expensive properties closer to the city. Long story short we have a large pool of buyers entering the Brisbane market. If you understand the local markets you'll know what suburbs to target.
Brisbane pros, which one was the better buy?
22 Gellibrand Street, Clayfield, Qld 4011
14 Lincoln Street, Wilston, Qld 4051
10 Wyndham Street, Herston, Qld 4006
Herston one, 1.42 m, 4 units in 2 lots.
Separate names with a comma.