QLD Has Brisbane had its run?

Discussion in 'Where to Buy' started by rookie101, 31st Mar, 2022.

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Are you still buying in Brisbane?

  1. yes

    40 vote(s)
    28.8%
  2. no

    99 vote(s)
    71.2%
  1. southern-investor

    southern-investor Well-Known Member

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    So Brissy up 1.7% for April. Still a very strong result especially with all those long weekends and public Holidays. I think Brissy had 3 long weekends in a row. Easter, ANZAC and Labour day. It delayed a lot of sales and a lot were rescheduled.

    So Brisbane up 8.3% for the year already. LOL - huge increase imho.

    We will get 20%+ if it continues the way it is.
     
  2. Northy85

    Northy85 Well-Known Member

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    I just read an article this morning from some bank economist saying their brisbane prediction is 4% growth this year. Unless the market suddenly stops and retracts over the next 7 months, that's another failed prediction from the gurus haha.
     
  3. southern-investor

    southern-investor Well-Known Member

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    Dont ever believe any predictions.

    Brisbane pretty much already outperformed all the big banks predictions already. Then they will release their "updated" predictions and the shenanigans will go on.

    In saying that my prediction is 18%+ growth this year for Brisbane. I think it will slow a little in Winter and then Spring selling season starts again and off we go again.......
     
    Northy85 likes this.
  4. southern-investor

    southern-investor Well-Known Member

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    Note: Brisbane is up 7.8% this year for the first 4 months. I was having fat fingers. :)

    Either way still extremely strong result thus far and still outperforming all the major banks predictions.

    Its actually not good for me as I'm looking to buy a PPOR right now but I'm no hater. Well done to all the investors I say. My own fault for delaying a purchase for so long.
     
    PinkPanther likes this.
  5. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    Actually the April data reflects sales that were made in Brisbane throughout March - data reflects settled sales so the standard 30 day settlement period can be assumed for Brisbane data.
    Still - the increase in the April settled sales data is not bad given that these contracts would have been entered into during March - a time when there was also a lot of uncertainty off the back of the devastating flood events across the city.
     
    Whitecat likes this.
  6. Switchtronics

    Switchtronics Well-Known Member

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    Hi Melinda,

    I have some friends looking within 10klms of BNE Cbd for units/townhouses. Any suburb suggestions where units are significantly lower than house prices?
     
  7. Whitecat

    Whitecat Well-Known Member

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    RP data still showing growth on Paddington/Milton.
     
    Switchtronics likes this.
  8. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    There are a lot of suburbs where this is the case in Brisbane. I guess for your friends, the purpose of the purchase needs to be considered. There will be different location selection criteria perhaps if they are purchasing a unit to live in compared to if the purchase is purely for investment purposes.
     
    Switchtronics likes this.
  9. Headlong

    Headlong Well-Known Member

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    Nundah, Chermside on the north
    Carina Heights on the east
     
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  10. Switchtronics

    Switchtronics Well-Known Member

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    They want something to live in temporarily and then to rent later. Close to cafe's, facilities, entertainment is something they are searching. They have been looking in redhill and Paddington.
     
  11. Switchtronics

    Switchtronics Well-Known Member

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    4/35 Windsor Road, Red Hill, Qld 4059 https://www.realestate.com.au/property-unit-qld-red+hill-139444795

    A property like this for example. The house median price at 1.5 units at units 532k. This is only 2 bedroom, however low body corps, seems a good price based on median house pricing and unit pricing.

    I was potentially thinking long term where the delta between houses and units is high, eventually the gap will close up as houses become less attainable with increases in rates, providing there isn't a continued explosion of unit builds like Brisbane has had in the past.
     
  12. Headlong

    Headlong Well-Known Member

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    suburbs like Wilston have a good amount of cafes
    Newmarket has a cinema and decent facilities
     
  13. Gen-Y

    Gen-Y Well-Known Member

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    That unit mentioned won't magically gap close up between a house.
    It is pokie and small. If you want a desirable unit - think what makes it a comfortable and inviting place to live? That one have none of the features besides being CHEAP price.
     
    AJ061 likes this.
  14. standtall

    standtall Well-Known Member

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    I know 3 NSW families currently trying to buy in QLD. With interest rates rising, people are a lot less comfortable committing to 50-60% of their income to a large Sydney mortgage which could soon become 70-80% of some families' income specially if they bought post pandemic.

    Another boost to QLD would come from stamp duty being abolished in NSW for first home buyers. Immediate outcome would be all those FHBs will have extra 5% borrowing capacity which will quickly translate into 5% price increase for under $1.5m price segment leaving NSW investors even worse off and some of that money would flow to QLD where yields are still so much better.

    Don't forget Brisbane grew 70% during last interest rate hike as Sydney mortgages became too unsustainable for Southerners who ran to Brisbane for safety.
     
    Catsgo, southern-investor and Wilko like this.
  15. Switchtronics

    Switchtronics Well-Known Member

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    100% agree with the unit being small and people wanting features. A 2/1/1 secured under 320k although small I feel could benefit purely from the low price and how much more expensive others are.