How are prices in Camp Hill (Brisbane) going?

Discussion in 'Where to Buy' started by wylie, 23rd Oct, 2016.

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  1. wylie

    wylie Moderator Staff Member

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    I'm keen to hear from anyone with an older property in Camp Hill on how the suburb has been going this past year, and thoughts on how it might be heading over the next year or two. This house cannot be removed, is on a small block and therefore has no "higher use".
     
    Last edited: 23rd Oct, 2016
    wylie, 23rd Oct, 2016
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  2. Propertunity

    Propertunity Well-Known Member

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    Propertunity, 24th Oct, 2016
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  3. Sackie

    Sackie Well-Known Member

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    I know houses that can be subdivided there are selling like hotcakes for good prices as stock is low..unfortunately doesn't help you much. Any particular reason why you bought a home that cannot be removed..?
     
    Sackie, 24th Oct, 2016
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  4. Marg4000

    Marg4000 Well-Known Member

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    Also knock down and rebuilds are popular there, not much help to you tho.
    Marg
     
    Marg4000, 24th Oct, 2016
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  5. wylie

    wylie Moderator Staff Member

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    My parents bought it nearly 30 years ago, well before they even considered anything like "highest use", and I think possibly well before it became "protected" by any sort of heritage overlay.

    It is a good solid family home, so anyone not wanting to develop would still be interested.
     
    wylie, 24th Oct, 2016
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  6. wylie

    wylie Moderator Staff Member

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    I believe we could push for demo and the boundaries have recently changed but ours falls just inside the new boundary. Some further in the same street that used to be protected are now free to be removed. But best use would be a knock down and rebuild as the block is too small to split.
     
    wylie, 24th Oct, 2016
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  7. Sackie

    Sackie Well-Known Member

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    Have you spoken to a town planner about the demo? what size block? any views if developed?
     
    Sackie, 24th Oct, 2016
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  8. JDP1

    JDP1 Well-Known Member

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    Prospects for CG:
    Long term: Strong Buy rating
    Medium term: Strong Buy Rating
    Short term: Hold-Buy rating
    In the immediate term, its already a bit pricey in comparission to other nearby areas, so it might not show the cg% growth numbers that nearby areas might show, but this is short term...in the med and longer terms, it will kick arse that only a few brisbane suburbs will be able to match.
     
    JDP1, 24th Oct, 2016
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  9. willair

    willair Well-Known Member Premium Member

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    There is a Brisbane based real estate company that send me letters once a month on development blocks that most never even come on the market ,you only know when the the sold sign goes up..Sometimes it pays to ask the question might be more money with the da's in place and sell the way it is..
    imho-i have nothing to do with the company..
    Check out Chris McKnoulty from Best Use Real Estate on realestate.com.au
     
    willair, 24th Oct, 2016
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  10. wylie

    wylie Moderator Staff Member

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    Haven't spoken with town planner, block is 506 sqm, corner block with suburban views, slightly elevated.

    I guess if we could push for removal, the block would be worth more without the house, or at least worth what the house and block is worth "as is".

    I'll check with RPI if we would have hope of removing the house and chances of subdividing such a tiny block. I think "no" and "no" will be our answer, but it won't hurt to ask.
     
    wylie, 24th Oct, 2016
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  11. wylie

    wylie Moderator Staff Member

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    Thanks willair. I'll email Chris and see what he thinks. I just checked and the UCV has risen from $410k to $570k in the past three years. Valuation for house and block together, about a year ago, was $700k or thereabouts.

    Lots to think about before we make any decisions...
     
    wylie, 24th Oct, 2016
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  12. Sackie

    Sackie Well-Known Member

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    I know subdivision won't be possible but if you can demolish then someone who wants to build their high end ppor on the block, 506sqm isn't small anymore when similar builds are being built on 405sqm lots. Or depending on the numbers you may be able to do the build and sell for a premium.
     
    Sackie, 24th Oct, 2016
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  13. wylie

    wylie Moderator Staff Member

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    I agree the block isn't too small for a new build and I guess if it cannot be removed (even if that gave us more money from the sale), the engineer who signed off on the steel used for internal removal of some walls did say the house could take a lightweight second level.

    So, without removal, at least a major renovation could be done for someone who loves the block, the street and position.

    I doubt it would be worth us doing that. We would have to look at the numbers though.
     
    wylie, 24th Oct, 2016
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  14. Sackie

    Sackie Well-Known Member

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    Seems you may have other options, all depends if the house can be removed at this stage.
     
    Sackie, 24th Oct, 2016
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