QLD Brisbane Property Q3 2018

That would be gold stock. Very good buy those if at the right price mate.

 

Thanks, Patrick, any ideas on suburbs that you would highly recommend? Do you happen to know the best public schools in brissy?

 

I am personally biased towards Indooroopilly / Taringa . That’s in the catchment for either Indooroopilly primary school or ironside for primary and Indooroopilly state for high school which are all amongst some of the best state schools in qld . Brisbane state high is regarded as the best state school however as it’s in west end you would be looking at a unit not a house if you wanted to buy it that catchment and I would not recommend buying a unit ...

 

Bne state high the best. Kelvin grove the next iirc

 

Based on latest naplan only Mansfield and Indooroopilly shs get a look in after bne state high , high performing schools are heavily dominated by private schools

https://www.google.com.au/amp/s/amp...g/news-story/c24a067dbde2577298b31bfde6963825

 

I thought he was asking about public. I've read quite a bit about kelvin grove high affecting demand in a similar way to bshs. Indo and Mansfield both Asian areas which explains a bit

 

Yeah that what I was saying , the only public schools that rated well in the latest naplan were bags, indro and Mansfield , kelvin grove didn’t make an appearance . Not saying it’s not a good school.

 

What do people think of this? Rp data says bought for $620k in 2010, apparently $1m renovation. I'm assuming that $1m cost includes fudging the costs of the owner/builder and her father the site manager. Maybe the $1m also includes advertising fees to be reported on Domain

Auction preview: This is what a $1 million renovation looks like

The location isn't in the most desirable area of Ashgrove (which is in the Ashgrove State school catchment). I'm thinking 1.2-1.3m max

 

I think you are probably understating it’s value by a fair margin . The below property sold for $1370k recently and is in a comparable it lesser value suburb with a purchase price of $700k and then Reno of $500k-600k. Has only 400m2 block and only 4 bedrooms not a proper pool etc. I would expect this one to easily get $1.6m plus on that basis but who knows ...

86 Waverley Road Taringa Qld 4068 - House for Sale #128822322 - realestate.com.au

 

The auction result for the Ashgrove house was passed in at 1.7m. I'm sure that's a vendor bid, I wonder if anyone bid??

 

Chatting to an inner suburbs agent yesterday. Market not doing much. Not growing. Not getting the multiple offers. Houses above market are being ignored.
No mention of drop though
Bne gonna be flat for a while. Outer suburbs probably drop. Heard some seperate bad reports about springfield lakes. Those types of suburbs could easily drop.

 

Maybe... but the buyers are still out there, these recent examples show very good results all strong prices for what they are:

Passed in 1.385, i’ve been told it went for over that recently: 79 Eleventh Avenue, Kedron, Qld 4031

Sold at auction 1.14
53 Corona Avenue, Ashgrove, Qld 4060 - Property Details

Sold at auction 953k 98 Khartoum Street, Gordon Park, Qld 4031 - Property Details

From what ive heard on the ground agents are reducing auctions. I’ve been to two recently that were cancelled on the day (why would you wait that long?)

 

I think she’s over capitalised and I dont think its a great floor plan. The article beat it up. Its off market after a hundred days and no sale.

 

I attended a few opens over the last two weeks in Indooroopilly and kenmore and there were still reasonable number of interested parties but nothing like the crowds from 2 years ago. I'm guessing the school catchments are still keeping family buyers interested in these suburbs.

However, I also dropped by an open home in Chapel Hill and Brookfield for newly listed houses and there was just 1 more party at Chapel Hill and just 2 more at Brookfield. Felt strangely awkward. The market seems to be going down in these two suburbs for sure.

But I must say I am seeing plenty stock and some good value out there. A house around the corner from us in East Brisbane had a healthy number of people at the open so maybe inner city suburbs are still doing well. Anyone seeing a similar trend around the camp hill, coorparoo, bulimba side?

 

Cheers APRA, way to mess up the housing market

 

I have been observing a few areas I pass through on the north side.. I think things for the most part are selling, but a few are sitting on the market for a while. Looks like a lot of what look to be ex-rental places around say Keperra are now up for sale, which I'm guessing is the southerners having to reduce some debt. I think though enough PPOR buyers will slowly keep buying them, keeping the prices from going too far south. Looking at sold prices I can't see any massive discounts yet.

So can't see any "crash" happening in Brisbane anytime soon.. although I can see current conditions keeping things fairly flat.

 

Sash,

When you say exit do you mean sell out or pull out equity?

 

Sell...I don't want to hold as much.....

 

I don't understand? Is the main reason to lower LVR or you pay too much land tax or buy less IPs in better locations, or is this your exit strategy to own all for cash or to invest elsewhere (if to invest I would use equity instead)?
I still keep adding I never wish to sell any, I have low LVR though, and now just prefer to buy better locations. Perhaps since SMSF is taken care of there...
Wouldn't you pay out a lot in exit costs, CG tax, and re-entry costs....?

 

Watson street is a bit special based on some of the big $$$ houses there but this one went a few weekends ago

15 Watson Street, Newmarket, Qld 4051

1.8-1.9m at auction

Another one passed in at Lansdowne Street, no bids. Owners expecting similar money to this.

11 Empress Terrace, Bardon, Qld 4065

Passed in at 1.3m at auction, owners holding out for over 1.4m. No money in it at that price imo.

Plenty passing in and then selling a few weeks later though so who knows maybe they'll get the money.