QLD Finally. Yes finally the Brisbane market is picking up

Not me but a number of people have over the last 9 years with us owning all four units in the block and vacancy rates have been very low. I guess not everyone wants to live near the CBD . Uni students for one.

One Unit is a break lease so we are still get rent for it until it is re-leased. If the other one doesn't rent soon, we do a quick reno with a paint job inside, new window dressing and maybe new carpets.

 

I think we're going to see some pain for those who have cheap share houses for sure I was walking around West End the other night and it's amazing how the demographic has changed those people were renting somewhere else before why wouldn't they live 2 kilometres from the CBD. Young single non cbd worker professionals there too kind of blue collar types. Would have previously lived in share houses or apartments further out.
You don't need lots of money to live in bne cbd in a luxury apartment these days.
I believe this change will affect houses rents too but perhaps not too much. Families with dogs kids etc dont want apartments. I wouldn't be freaking out about it from an investment point of view given the prices of the properties in bne. It's so cheap anyway.

 

I don't want to live any closer to the CBD - traffic in and out, always. Always bustling. Fewer parks. Can't let the kids wander in any way in front. Southbank maybe at a push, but I'd rather 4-6km out where you can avoid people a bit more

 

I tend to agree.

The PM recommended $355 as we are getting that for another Unit in the same complex and we went with it.

I will do some research tomorrow but I am also thinking $350 or $345.

 

Issue with Southbank is the noise.
There's no houses anyway. Have to go a few blocks back which is South Brisbane. Some nice pockets in there. You might get something small for 1.3 you were talking about.

 

Last time I was in Brisbane I stayed in West End which I suppose is very close to CBD and yet it felt less busy than Rouse Hill Shopping Centre which is 40 km outside Sydney CBD but I guess we all have relative standards

 

I just listed a place in Brisbane that was 530pw. Advertised at 550pw and had more than 30 applications over the weekend. Wonder if it's due to the PM and their advertising reach?

 

Ummm why don't you just do what us normal people do and build all the houses yourself in your spare time?

 

Share house rent hasnt moved in like 5 years!

$150 per week per room bills included is still the standard.

What I think keeps it down is couples renting out a spare room and they are just happy with any extra cash. Or friends in a 3 bedroom unit that costs 350pw, renting out the 3rd room for a 3rd of the rent, which after bills is about 150pw.

So that 150pw figure just keeps on keeping on.

 

You can't use the words @Bran and spare time in the same sentence.

 

Not interested in living there. But maybe as a tenant at a push (ie divorce)

 

Personally if I was at that campus I'd live somewhere like Greenslopes, but maybe i'm out of touch!

 

Look out Brisbane, Sydneysiders are looking for your cheaper houses

Here come the sydney refugees. It's more or less than what we've already been discussing on here - Brisbane is way too cheap but that it still needs some economic recovery to really get things pumping in the housing market in a boom fashion.
In the meantime I'm seeing houses on the move quite confidently. Properties with good fundamentals are not sitting around.

 

It was always a matter of time. The price point to buy/rent property in relation to income is way too appealing for people at the moment. This year will start the double digit growth with 2018 to put SEQ well and truly in the limelight as the fastest growing property market in the country.

 

I like your optimism. It may well grow the best. Certainly some predictors are saying that (but 'the best of a bad bunch' of returns across Australia).
I don't think its going to do any sort of boom, just keep on moving along steadily. Its just too attractive to anyone who is looking from an investment point of view to ignore. And natural arbitrage will slowly push things to equalise to the long run average. We need a bit more economic movement/jobs for a 'boom' though.

 

Yeah I am optimistic about Brisbane and I agree that a boom is probably not going to happen. I just think that other markets will ease as SEQ accelerates

 

Brisbane s economy and jobs won't grow much in 2017.
A bit yes..but not substantial. Melbourne and Sydney will still easily be the top 2 dogs when it comes to jobs and also jobs growth..this is impressive given that the base of Sydney and Mel l is high..

 

Even with depreciation factored in, paying for all this work would cost you more than the cashflow you'll miss out on if you drop the rent by a small amount, wouldn't it?

 

Yeah, but it needs a quick reno as there are a lot of new apartments in the area and this will keep it competitive.

 

Just posted this in the Gold Coast thread but very relevant to Brisbane also being wedged right between GC and Sunshine.

www.domain.com.au/news/gold-and-sunshine-coasts-shine-as-the-stars-of-queenslands-property-market-20170126-gtzak5/