QLD Brisbane Property 2017

Inner, middle and outer 'rings'. They go by the regions or suburbs according to the Place Advisory:

Market Report: Brisbane's Inner, Middle and Outer Rings - Place Projects

 

This has been the same definition for as long as I can remember. With the rapid urbanisation of Brisbane, I believe that inner now means up to 8 km radius, middle up to 15 km radius and outer 15km plus.

I have children who live in Newmarket (5.7km from CBD) and Kedron (7km) and can't believe they live middle ring. I live in Aspley and don't believe it is an outer suburb.

 

Hi guys, looking for some advice, i'm considering buying in the inner ring in Brisbane, my preference is units for the low maintenance and more convenient lifestyle, I prefer to live in apartments rather that a house. It will initially be an investment property but hopefully move into it within a couple of years, it will be a long term hold, preferably 2 bedroom and preferably within walking distance to city. I realise a lot of people are saying not to buy in Brisbane at the moment with all the new developments/ units being sold, however it still seems very cheap when comparing to Sydney and Melbourne..is everywhere in Australia just ridiculously overpriced? A lot of cities in the U.S sell for 2-3 times income. Am I better off waiting and are units really a bad investment?

 

I am surprised that Keperra is an outer ring suburb. I feel its middle ring for sure

 

It is more a guide I wouldn't get too hung up on it. There are middle ring suburbs with higher medians than others that are considered inner ring...

 

I personally would steer clear if your goal is to have any captital growth in the next 5 years. If you really want convenience etc maybe look st townhouses as they don't have quite the same stigma about them however should still be in a position of power as a buyer at the moment .

 

I'd be looking to hold for 10+ years if that makes any difference. Didn't realise there's a stigma for apartments? I might look at townhouses, the main thing for me is location, I hate commuting and places that are a 10-20 minute drive to the city now can easily turn into 30-45 minute drive down the track like Sydney..

 

Yep massive stigma at the moment . Townhouses still have a bit of a stigma however not as bad as units. Having said that your nice owner occ style units in areas that are not hugely overdeveloped will fare a lot better than invester grade dog boxes in the overdeveloped areas. We are probably another 12-18 months from the unit market bottoming out.

 

What's the stigma?

 

They just built way too many units so there is a massive oversupply. The problem with units is they can always build more which can limit your captital growth. I would be sticking to houses or at least townhouses.

 

Oversupply of appartment means they will not appreciate for sometime. Also if you're buying a new or near new unit in a large development you have zero scarcity, probably high body corporate fees. If you really want one look for an older one on a block with less than 10. I think that's the general wisdom.

 

Disaster with a double D. And not the good kind.

 

Last I heard LLs were giving away new I-Pads or a few weeks free rent just trying to get tenants in apartments in the CBD area
The city where landlords will pay your removalist costs

 

My argument is that the guide should change as Brisbane has changed so much in the last decade or two since the last definition of inner suburbs etc came out.

That was June 2017. Have things changed since then?

 

Not really there's even more units around since then but anything is worth investing in if you can get into it for a bargain price, if it's empty for a few months who cares.

 

Would be even worse if you own an old apartment in those areas, who wants to rent an old tired unit when you can rent and brand new one and get a free iPad!

 

Brisbane property predicted to do well in 2018

Brisbane property market is predicted to do well in 2018 on the back of interstate interest - realestate.com.au

 

Sydney units seem have done/ doing well recently, more than doubled in a few years in some places. I'm sure people were saying these were a bad idea/ expensive back then?

 

I understand where you are coming from however Sydney is a very different beast to Brisbane. Sydney has geographical boundaries that limit the the availability of new land and is also more of a global city along the lines of London and New York etc that has a much stronger demand generally than Brisbane. I guess what I am saying is don't assume what happens in Sydney will happen in Brisbane especially when it comes to units .

 

Those who want a unit at a decent size i imagine. These new ones often you can't swing a cat. Also many of these new ones are built up overlooking many roads while the older ones are down nice quiet streets.