QLD Buying around Hawthorne, Brisbane

Yah, first post. Lots of great information to be had, which i hope to add too.

We have been looking for a house around Hawthorne for a bit to live in, but thought we would look further a field.

We have found this: https://www.realestate.com.au/property-house-qld-east+brisbane-135760570

It hits our 'lifestyle' requirement', in that it is near a park and a city cat, a Queenslander and has some views of the city. The noise from Wynnum Road, isn't too bad and in my view is preferable to aircraft noise of Hawthorne.

I'm having a bit of difficulty formulating an appropriate offer, or indeed range. It sold for $1.18m 11 years ago and they did a structural renovation in 2015(ash)

East Brisbane, certainly not as $$ as Hawthorne, but Laidlaw Parade (in my view) is desirable as a location given its on the water. Added to this, is the general craziness of the Brisbane market in general.

Has anyone got any insight into reasonable pricing, and more so, any issues/concerns they can see with the house that they could impart?


Thanks in Advance,

 

Looks like a nice house / spot. Has been rented for $1300 per week, flood free close to river. $2M +++ would be a great asset.

 

I agree, the location is excellent and i have no doubt there will be a two in front of it. The issue is where it sits in the 2s. Putting aside, there is little stock on the market, my issue is that if they want something in the mids, i might as well start looking at Hawthorne again.

I understand the owner of this wants mid 2.5: House for Sale - 1 Scott Street, Hawthorne, QLD 4171

my view is this one has the park, city cat, more house and the land value is obviously more, despite it only being on 400sqm.

If this is 2.5, i can't see Laidlaw being more than very low 2s.

This sold in east brisbane in December and land is the same and its a new build, with better views of the city: https://www.realestate.com.au/sold/property-house-qld-east+brisbane-134135110


The obvious issue is what the premium for 'Laidlaw' is in this climate. Is say, a 2.1 or 2.2 offer a dream in your view. Happy for anyone to tell me i'm way off base, as long as they can explain why.

 

To be honest I find East Brisbane a difficult suburb to compare and price. I don’t shop over $1M let alone 2, but if I guessed I’d say somewhere between $2.2-2.5M depending on how motivated the seller is.
If you have a seller like @Sackie then probably $3.5M +

 

Thanks for that. Can I ask if that range was based on anything? Maybe I’ve missed something.

No issue if it wasn’t, as I wouldn’t be surprised if it was around this figure. If I could hang my hat on something i would feel more comfortable making an offer. In this market though it sometimes feels like it’s pick a price....

 

For Hawthorne at that budget there’s been a few nice homes sell around the $2m. I’d much prefer the suburb over east Brisbane personally.

I’d be looking for a knockdown in the very low 1s and then build the dream home.

Seen someone do it in Malcolm street recently, 1.055m knockdown and done a huge rebuild.

 

any price thoughts on this. Hoping to see it this afternoon

https://www.realestate.com.au/property-house-qld-hawthorne-135849134

sold in late 2011 for $2.075

I can't believe the land value on Virginia Ave versus a street or 2 back. This also has duel street frontage onto Aaron Ave, which i think adds value. The house opposite it on Aaroon is Gina Reinharts place which is about 18m.

I'm thinking at least 2.7-2.8??

 

When you compare what you get for your money, Huge blocks and big homes. In arguably the top 3-5 best suburb in Brisbane, as @wylie said the best streets of the suburb. It justifies it.

Living in Melbourne now I can’t believe how cheap these are, if I had 2-3m to spend it would be going straight to Hawthorne Brisbane in a heartbeat. Long term I can see these being $5-6m+ easily

 

i have to agree with you there. we've driven past a few times and the surrounding houses are pretty spectacular. Other than a wish for it to be a bit closer to the city cat, it seems to hit a few boxes that we are looking for.

I think it is something we could stretch the budget to make work as it is a big block and i can see long term potential .

any thoughts on a price?

 

well we went to have a look at it and it wasn't really good at all. It has been a rental for 3 years and it showed, but more so the layout was terrible/not functional.

Supposedly they want something with a 3 in front of it. i think if it was in good nick and the layout was better yeah, but that is a chunk of change to put down on a house with so many fundamental problems.

There is one on 1300sqm close by which is a complete redo, but at least it is essentially a blank canvas:

https://www.realestate.com.au/property-house-qld-hawthorne-135944018

I think if you through some money at this it would be pretty amazing

 

just an update on this. Went to auction and passed in at 2.1. Supposedly something between 2.1 and 2.2 will get it

given it sold for 2.2 over 5 years ago.I can only think it was bought for WAY too much.

any thoughts? I thought brisbane was in the middle of a boom?

Perhaps the airplane noise is have an effect on these properties after all.

 

I personally don't think auctions work very well in Brisbane. The perceptions is fire sale sometimes. I will get shot down for this comment, but i have seen too many poor auction returns in Bris and Adelaide and have become wedded to this opinion.

 

I would concede your 'but right now' is correct. I think tracking back to normal Brisbane behavior is always just a bid away.

 

After a long search we are getting serious on the following house. Will likely registrar at next week’s auction and make offers

https://www.realestate.com.au/property-house-qld-hawthorne-136098074

I suspect it will go for a pretty penny. Any thoughts on price?

What I was hoping was for some very critical opinions on the house from you all – like problems and issues you all might see that we might have over looked. Be brutal please.

Cheers

 

Currently (current boom markets) auctions are definitely working in many cases, from what I'm hearing. Not much to lose really.

You go to auction to try and get all the emotions as heightened as possible and aim for the big price (which many are getting at auction), and worse case you negotiate after auction. Interest won't just suddenly disappear because it's passed in. Sellers may just have to adjust strategy/ expectations. But at least you had an opportunity to jam all the estrogen and testosterone together to go wild. You bluffed, buyers called , now sell a little lower where you were always happy to settle anyway.