QLD Brisbane Market 2020

Discussion in 'Where to Buy' started by Alex123711, 22nd Jan, 2020.

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  1. Sam Yue

    Sam Yue Well-Known Member

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    It seems from the suburb trend of realestate.com that the inner suburbs of Brisbane are doing pretty well this year. With the good news that RBA will keep on cutting borrowing cost in near future, a mini boom probably has already been underway.
     
  2. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    I think so
     
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  3. MWI

    MWI Well-Known Member

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    Had 4 IPs in BRI revalued, formal valuations, two came or par priced valuations two came much higher, hence just on those numbers personally I had a mini boom.
    Refinanced too and saved 2% in IO costs, pulled out extra equity and also discharged one title, hence all positive news for me in BRI market.
    Albert Einstein said, “in the midst of every crisis, lies great opportunity.”
    Most unfortunately wish to concentrate their minds on negative news on crisis, while others will continue to do what they were doing, pursuing opportunities, especially if they invest long term never to sell.
     
  4. Sam Yue

    Sam Yue Well-Known Member

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    A typical boom starts from inner suburbs, then slowly moves to outer suburbs. Let's see :cool:
     
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  5. jaybean

    jaybean Well-Known Member

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    The Chinese have a word for this: "crisatunity"
     
  6. Codie

    Codie Well-Known Member

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  7. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    I was reading a lot about Melbourne residents wanting to relocate to Brisbane but did not see any evidence of this until recently. The article that your reference @Codie confirms that removalists are seeing this now. Additionally, I can honestly say that we have had 4 enquiries in the last 2 weeks alone from Melbourne people who are relocating to Brisbane. It is actually happening!!!
     
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  8. Codie

    Codie Well-Known Member

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    Yes! all good news for Brisbane, And here I am going the other way... will be back down in Melbourne by xmas (have spent covid in Brisbane) Lucky for me my IP's are all in Brisbane/Goldcoast, hopefully we see some decent growth and I can leverage off them and take the opportunity to add to the portfolio out of cycle down there.
     
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  9. jaybean

    jaybean Well-Known Member

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    It feels weird after so many years of analysing the data and getting it wrong, the thing that ends up actually causing Brisbane to grow was some dude in China that loved chomping on bats. I mean I'll take it, I can't complain about growth, but I do feel a little inadequate as far as my analytical abilities go lol
     
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  10. fols

    fols Well-Known Member

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    I actually think Brisbane market (middle ring BCC) was getting quite warm in March, just prior to COVID hitting. I was missing out on some $600-$700K properties by around 5-6%, felt like it was starting to move. Had plenty of agents calling me in April looking for buyers, but the swift response to the health crisis has put things back where they were, with the added fuel of interstate migration, stimulus and lower interest rates. Bout time aye.
     
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  11. djyella

    djyella Well-Known Member

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    Few people at my Sydney workplace moving back to Brisbane.

    Glad I hold an IP there. For the first time in 10 years I might actually be holding a worthwhile investment.
     
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  12. Lacrim

    Lacrim Well-Known Member

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    Why? Because its cheaper or because they can work remotely? Or is it a COVID knee jerk thingy? Or perhaps its the only way they can holiday in the GC or FNQ this summer?
     
  13. jaybean

    jaybean Well-Known Member

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    I guess if they're from there originally it's not a huge move really. You know the areas, you have connections etc.
     
  14. Noobieboy

    Noobieboy Well-Known Member

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    Companies are more open about people working remotely or in regional areas with a couple of days fly in. My company took a bit of convincing to approve my move to Brisbane from Sydney couple of years ago.

    Lo and behold, this year 7 people that I know off have been OK’ed to move to Brisbane. Two managers. Apparently all they had to do is send an email to their managers and get and approval from a GM.

    Flights are cheap so companies don’t see it as a cost. They also see it as risk reduction when you have distributed workforce. If one office shuts down, less risk of majority of workforce costing you money while not working.
     
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  15. djyella

    djyella Well-Known Member

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    Myriad of reasons. I would say affordability and taking advantage of WFH flexibility being top of mind. There is a a satellite office in Brisbane so its not fully remote, but rather relocation. However, if you only need to go to office 1-3 times a week in the medium term (we are still WFH for another 6 months) whats the point of living in Sydney unless you are established here?

    For me, I'm mid career with young kids. Family network all in SEQ. Salary stays the same. Currently rentvesting in Sydney but can afford $1.2-1.5m home. This is an awkward no-mans land budget that buys (in the young family context) no reasonable house in inner-middle ring Sydney or an nice-ish house in inner-middle ring Brisbane (4 bed, pool, backyard, garage on 400m2). Also the fact Brisbane is just way easier lifestyle with kids (factoring in family + just getting around). So for me personally it's a combination of affordability/lifestyle/family/timing.

    The other people I've talked to its the similar combination but they are in diff stages ie millenials or older expats that just never got a foothold in Sydney.
     
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  16. Lacrim

    Lacrim Well-Known Member

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    Just anecdotal of course, but the majority of Sydneysiders I know who've moved to Brisbane (or GC) have done so primarily bc its cheaper....but the Brisbanites who can afford to live in Sydney don't seem to want to go back (to Brisbane).
     
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  17. jaybean

    jaybean Well-Known Member

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    If people like you are moving from Syd / Mel to Brisbane with a 1.2 to 1.5m budget and thinks all that buys you is a nice-ish house in the inner to middle ring, then Brisbane is certainly set for a boom :)

    What does a nice house cost, $2 million? Bring that money north, baby. Bring it!
     
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  18. wylie

    wylie Moderator Staff Member

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    Interesting comment. I've never known anyone who would move to Sydney because they could afford to live there, unless it was for career reasons. I know a number of people who did live there, but now live in Brisbane for reasons of lifestyle, less congestion etc.

    One couple I know had good jobs with big companies but moved here in their 40s. and had children. His family is from Brisbane, hers from Sydney, so it wasn't a move to be closer to family. It was for lifestyle. I know another couple who moved to Melbourne for him to try to break into the much larger TV industry there. If not for that, they would be in Brisbane. They are about to move to the US (such bad timing - what film industry is there to try to even break into right now).

    Another couple with high school and uni aged girls have moved to Melbourne for her high flying job. He can't find work there and lockdown has made that worse. They'd lived in Melbourne before for his job, but he's older than her and she has few opportunities at her level in the industry she's in, so nothing in Brisbane for her... move to the UK or Melbourne were the options.

    Everyone I know has moved for career reasons to Sydney or Melbourne, or moved from those cities to Brisbane for lifestyle reasons.
     
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  19. djyella

    djyella Well-Known Member

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    Yeah from what I've seen 1.1-1.2m doesn't get a whole lot in a nice inner-mid suburb. Example would be Graceville, Yeronga, Hawthorne. FYI when I say nice I'm also talking about something bigger than 400m ie 600m2+ on a decent street (not a busy or main road).
     
  20. djyella

    djyella Well-Known Member

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    Agreed from my own personal perspective. Moved to Sydney for career, returning to Brisbane for lifestyle.