QLD Brisbane Property Q1 2018

lots more auctions in the inner city areas from the last time I checked. Any on the ground observations?

 

At least the bayside has nice beaches

 

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Meanwhile, on Moggill Road...

 

@Gockie, that is what you missed the night we took you to Nudgee Beach but the moon wasn't out yet.

 

A very dodgy arse beach...

 

I'm not totally surprised by that price as large blocks are hard to find in Paddington and people pay a premium for the views.

Edit: I thought it looked post-war so I went back and read the description so yeah that adds even more value because the ability to actually start from scratch on a large block with views is quite rare in Paddington.

 

That's a beautiful spot around Orleigh Park it's very quiet as there's no roads on the other side of the river a lot of the west of Montague developments, cop a bit of noise from Coronation Drive across the river.
However that house needs to be built high off the ground because it floods right through there

 

Anything within about 3 kilometres from the CBD has pretty much been auction only for a number of years now. What I am seeing happening is the auctions are spreading out to the middle ring where formerly the only time they would have been an auction is if there was a mega size block or something particularily unique. I believe Brisbane will become like the southern states and become auction only too. Transitioning now

 

How long do you think the transition will take?

 

I think auctions only work well if you have multiple willing buyers for a property that are prepared to buy it under auction conditions.

I think in Brisbane:
1. Some areas/properties don't have the demand. (But same is true for Sydney and Melbourne)
2. People in Brisbane tend to like to crash contracts using a pest or finance clause. This doesn't happen so much in Sydney because the buyer will lose the 0.25% so Sydney buyers tend to be more serious in following through.

In any case, I don't think Brisbane will turn into a predominately auction market. Maybe inner ring it could happen, but not for the middle or outer ring.

 

Can't see why not if the demand keeps up, are suburbs such as Grange, Alderley and Ashgrove considered to be inner or middle? I think they are inner right ? most of them are going auction now. I am also seeming some Stafford homes going in into auction too. that didn't seem to happen too often just say 2 years ago.

 

They would be considered middle ring by most measures/observers (albeit inner middle if that makes sense)

 

My issue with it is what is going on around it. blocks of 5 townhouses going up next door and townhouses/units crammed everywhere in the street. Unless you can pick up the house on the other side on a double block, you might be faced with the issue of having another 5 townhouses next door.

 

It is interesting hearing agents keep trying to spruk a hot rental market, at least on the southside. An agent in runcorn claimed a property would grab $400/wk easy yet a quick google search finds the place was listed for 370/wk a could months ago without success. Similar story at a property in Sunnybank Hills

 

Decades.

Yes, that was definitely my impression of the street when I drove down it.

 

Real estate agents full of hot air? Never!

 

I don't know exactly but I'm seeing the increase in the amount of auctions spreading out. I don't have any data that's just what it feels like to me. I think when there is a Brisbane boom that's when we will really see it become more cemented

 

Inner middle. Middle is Chermside distance since we are talking North

 

Inner ring it already has happened