Brisbane PPOR up to $1.6m

Would love to hear about your experiences and also the things you found out most about Camp Hill. If you would prefer PM, please let me know.

 

What's your reason for moving up if I may ask?

 

This sold a good $400k under your price range so you could get something far nicer https://m.realestate.com.au/property-house-qld-toowong-135501230

 

I'm going to guess they are the two Camp Hill properties. For me the Watson St property is definitely preferable, slightly larger block, bigger house, extra bedroom, better outdoor configuration, better build quality, better location/area, bigger pool, established gardens - oh and some city glimpses from the front verhanda from the looks of the photos. The Fryar St property is obviously got that more modern look but to I personally find it pretty superficial and a bit 'specie'.

Re price, I don't know the market is so hot, but fwiw:
Fryar St - maybe 1.2s?
Watson St - can't see it going for less than 1.3M at auction in the current environment. Who knows - maybe a good bit more!

Even just a couple of months ago and I wouldn't have believed these prices.

 

This one was only on the market briefly, same street, just on the other side of the hill.

https://www.realestate.com.au/property-house-qld-camp+hill-135764086

Beautiful property if you ask me, and ideal (north eastern) aspect. 913 m² of really usable (and accessible) land. No idea what the price was - but I'll guess it will be nudging very close to 1.6M

 

Prices have definitely moved in Camp Hill. I think the figures you’ve quoted are light based on our recent purchasing experience in the area. Just as an example this sold last month at auction for $1.8m:

https://m.realestate.com.au/property-house-qld-camp+hill-135706522

 

Thats the problem, finding a suburb that is good enough that it warrants $1.6m, is there anything in that price bracket? Zilla pointed out the money required for a nice house in camp hill. Cant afford to wait because prices might keep going up. There is a lot of money around now and I dont know Brisbane very well but I cant see prices actually going down.

 

Under the house was below legal height. The block was nice though!

 

I think you may be right. Just looking at this post from another thread

I might need to add 100 - 150k to my estimates!!

 

Yeah its super competitive out there. It'll be interesting to see come Sunday.

 

I think you're right, it would have gone for the 1.6-1.8s.

 

Agent tells me "over 1.65M".

 

Ok, now convinced this will go for 1.5M+

https://m.realestate.com.au/property-house-qld-camp+hill-135955074

 

Camp Hill is about to undergo some rezoning, I'd be careful.

Proposed citywide amendment - Camp Hill zoning, heritage and character amendment - Major amendment package I

It basically means that it will be hard to subdivide in future, and make it more difficult to do infill townhouses; they want to keep the character of the area. My view is that future windfall capital gains will be difficult because it won't be worth as much to a developer. Property will keep appreciating but you won't get windfall gains.

I also suggest the Toowong/Indooroopilly/St Lucia/Taringa area. Even if you have a small 400m block, you may be able to do a one line sale with your neighbours in the future and cash in during the future.

 

That's only quite a small area of camp hill and is bringing it inline with other adjacenty parts of Camp Hill from Low-medium density residential (two or three storey mix zone precinct) to character residential (for post 1946 buildings). There's really nothing surprising in that.

 

...and I was way off, 55 Watson Street, Camp Hill sold for $1,725,000 this morning. Auctioneer declared it on the market about around 1.6 from memory. Strong result.

 

This sold for $1.88m this morning
https://m.realestate.com.au/property-house-qld-camp+hill-135931098

 

It's beautiful!

 

Once people get conditioned to prices in the $1ms, they'll eventually get conditioned to a $2 in front. Perhaps in the next cycle.

 

That's so true!. When I first bought I found it hard to swallow buying a house with a 2 in front.... as in $230k, fast forward 17 years and I'm looking at places that cost 500% more.