Brisbane tipping point - strong price growth over 2019 to 2022

Discussion in 'Property Market Economics' started by sash, 24th Mar, 2019.

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  1. wylie

    wylie Moderator Staff Member

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    That was a splitter. Bought, demolished and two houses built, sold quickly.
     
  2. Sackie

    Sackie Well-Known Member

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    Yep, I'm following all the splitter sales in the area and surrounds as I have some under construction very soon.
     
  3. mickyyyy

    mickyyyy Well-Known Member

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    ******aaaaa I like this!!!
     
  4. sash

    sash Well-Known Member

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    Nutin...as they are Federales......more a state issue ...
     
  5. willair

    willair Well-Known Member Premium Member

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    MWI,i think it's just the unit market as a whole in Moorooka ,then once you break it down again it goes on the street ,then how many units in the complex land area ect..

    I was talking to a local honest family run business RE Agent yesterday as I am in the final stages of finding another unit for our daughter..

    Six--Nine months ago,there was over 20 units for sale within that small area as I was looking back then,now there would be less then 10 that fit the list,large land area ,brick,and less then 5-6 units within the footprint ..

    Problem was late yesterday,as we were going up to sign the first stage contract after our daughter finished work ,someone else came in with a cash contract --90 days settlement 5k above the daughters offer just have to wait and see as ,there are certain things that always happen in investing and it's a top day in the free world..
     
  6. MWI

    MWI Well-Known Member

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    I stay away from BRI units as I plan never to sell and prefer house/land as that can be redeveloped one day!
     
  7. Angel

    Angel Well-Known Member

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    A block of old units in the right location can be demolished and turned into some very nice modern ones instead that will attract the boutique OO buyers.

    Plenty of people want to live in a low-maintenance unit in the perfect location but cant stand the thought of being in a high rise.
     
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  8. MWI

    MWI Well-Known Member

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    Exactly!
    A friend bought a townhouse South BRI in complex of 3 with the intention to buy at least one or two. If possible down in time, can then resell to developer or rebuilt himself. In addition if he owns 2/3 he makes all the decisions I presume about Strata (e.g could decide to render outside or to modernize).
     
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  9. Rich2011

    Rich2011 Well-Known Member

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    Interesting sales here on the Peninsula, developers I spoke to at this auction in March said vacant blocks are not selling unless heavily discounted at the moment.

    Sold July 2018 for 621k House was a knock down, in poor condition.
    10 Barron Road, Margate, Qld 4019

    Sold March 2019 for circa 530k House was very liveable after a small makeover
    12 Sorrento Street, Margate, Qld 4019

    Both on double lots less than 1.3klm apart 90k difference in selling price in eight months.
     
  10. samiam

    samiam Well-Known Member

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    on my way
  11. standtall

    standtall Well-Known Member

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    All my land valuations have been going up consistently in last few years.. one more round and council land values will be more than actual property market values.. once that happens I will write a letter to Brisbane city council to buy the land at their assigned value and I will throw in the building for free.
     
  12. MWI

    MWI Well-Known Member

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    Let's do it together.
    In addition the insurer tells me I need to increase SI for rebuilding costs as they seem a bit low....everyone just want more money!
     
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  13. Coxy89

    Coxy89 Well-Known Member

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    192 Baroona Rd Paddington. Was bought in June 2018 - 715k, renoed and just sold for $2.35m

    Money to be made there with the right contacts/skillset
     
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  14. Jana

    Jana Well-Known Member

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    Sold? I think it is under sale, not yet sold?? Looks over 600k worth reno is done.
     
  15. Coxy89

    Coxy89 Well-Known Member

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    Sold on the weekend prior to it being properly launched I think. Was on the builder/developers instagram over the weekend.

    I would guess its around the $1m mark reno wise
     
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  16. Lacrim

    Lacrim Well-Known Member

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    Risky punt though depending upon how much needed to be spent. I wouldn't be game to do this (I'm not a builder).
     
  17. Coxy89

    Coxy89 Well-Known Member

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    Thats why I say with the right skillset, its a decent undertaking but there are some solid numbers there
     
  18. Waterboy

    Waterboy Well-Known Member

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    sadly the food in Brisbane is bland
     
  19. Codie

    Codie Well-Known Member

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    You must be visiting the wrong places! Brisbane has some of the best food once you figure out where to go.
     
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  20. Waterboy

    Waterboy Well-Known Member

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    Please give me a list!
    All the ones I've tried made me wanna buy instant noodles from Coles instead!