QLD Hype Moreton Bay Shire Qld

Discussion in 'Where to Buy' started by sash, 16th Apr, 2016.

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  1. wombat777

    wombat777 Well-Known Member

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    I've got a thread specifically tracking Petrie University. Funding has been secured:

    QLD - Petrie - University / The Mill Priority Development Area

    Basically these funds ($70m) have been secured for the student places which is essential for the university to go ahead.

    In addition there has been a $35M grant from Moreton Bay Council and a $100M loan to the University to kickstart construction of the University ( my understanding is the University needs to be self-sustaining so up to the Uni generate funds to pay back the loan ).

    QLD - Petrie - University / The Mill Priority Development Area

    In total that's over just over $200M.
     
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  2. Angel

    Angel Well-Known Member

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    How many percentage points did Mt Druitt increase last boom? Strathpine and Petrie are not HC suburbs either, there are very few HC areas in SEQ anyway.
     
  3. Drizzt Do'urden

    Drizzt Do'urden Well-Known Member

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    HC ... HC ... been staring at this and I give up. What does HC stand for ?
     
  4. hash_investor

    hash_investor Well-Known Member

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    housing commission
     
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  5. AJay

    AJay New Member

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    You and me both Drizzt. Thanks hash.
     
  6. Angel

    Angel Well-Known Member

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    I think you can get a map with info about Commission housing in each suburb - Pricefinder or RP Data maybe. I just did a search but didn't locate it.
     
  7. Coota9

    Coota9 Well-Known Member

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    Doesn't give you street level HC info but a good guide anyway..

    Social atlas | Moreton Bay Region | atlas.id
     
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  8. MoneyMan

    MoneyMan Well-Known Member

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    Who is going to be renting out per room once the uni is in :p
     
  9. David Shih

    David Shih Mortgage Broker Business Member

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    Hi all,

    Went on the ground today around Strathpine/Kippa-ring/Redcliffe to check out properties with my clients. Couple of interesting observations/updates:
    1. All agents I spoke to today are telling me that interstate investors have mostly pulled out but owner occs are filling in the gap but definitely slowed down in comparison with 2 years ago. This is in-line with the general public observation that it is now harder for investors to get finance.

    2. Checked out 3 properties in Strathpine around the shopping centre/train station. All pretty quiet - probably one or two groups at most, and looks like mostly owner occs (husband and wife combination). Asked agent "how long has it been on market for?" "Not long" "How long is not long?" "Um...About 3 weeks" :rolleyes:

    3. Checked out 2 properties around Redcliffe, one is red bang hot with over 10 groups through! Spoke to agent and he said they've just reduced the price on Thursday and the new price now seems to be more in-line with market. That one should be sold this weekend. The other one just went under contract but again it was on the market for about 2 weeks and bought out by owner occ.

    4. Also checked out one at Kippa-ring and about 5 groups through. In a nice residential area and house in decent condition, decent location and not much work required...but this one has been sitting on market for over 6 weeks! Agent said vendor expectation was way too high in the beginning so sparked no interest. Now reduced the price twice and we're finally getting people through.

    Recognize the common trend here? I reckon it's still a great time for buyers to be able to negotiate a discount around Moreton Bay before the price takes off ;)

    Cheers,
    David
     
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  10. Angel

    Angel Well-Known Member

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    Are you saying that prices have reduced in the past few years?
     
  11. David Shih

    David Shih Mortgage Broker Business Member

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    No price has definitely gone up in last couple of years. Strathpine used to be around 350K mark now everything is pretty much on 400K if not more.

    But at the moment in general I'm seeing more ad showing "price slashed" or "price discounted" so buyers still have some room to negotiate. Maybe because it's winter as well.

    You're living at Moreton Bay right? What are you seeing/hearing as a local resident?

    Cheers,
    David
     
  12. hobartchic

    hobartchic Well-Known Member

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    The trend is that investors have exited the market. Prices are going down. Why would it then take off? The trend is down.
     
  13. Kangabanga

    Kangabanga Well-Known Member

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    Brisbane is a small city mate. Redcliffe is a bit too far out...

    The price will take off probably in 10 years time or so LOL...

    Redcliffe is great for squidding in winter though :D
     
  14. Angel

    Angel Well-Known Member

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    Due to my current project, I'm only looking at rentals.
     
  15. David Shih

    David Shih Mortgage Broker Business Member

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    Because of the upcoming USC at Petrie and the opportunities associated with the new uni and new precincts. @wombat777 has a whole thread on the new USC with details and this will change the Moreton Bay area quite significantly in my opinion as it'll be the only uni in north side of Brisbane which has been lacking for a while.

    Labour is definitely pushing ahead with this with extra funding:


    Yep agree Redcliffe is far, but given the rarity of beaches around Brisbane it is unique in it's own and I feel long term you can't go wrong as more people are chasing lifestyle would always want to live somewhere close to beach. And it's still relatively affordable today in my opinion, in particular if you can pick up something around the $350 - $400K range. Not sure in about 10 years time though :)

    LOL they even have a post on it!
    Squidding in Moreton Bay - Bush 'n Beach Fishing Magazine

    Cheers,
    David
     
  16. Kangabanga

    Kangabanga Well-Known Member

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    USC Petrie will likely benefit those suburbs nearby, maybe right up to north lakes at most. There will be developers jumping in and building excess capacity around the university later, lots of land there. If u are betting on the uni, theres 3 bed houses in petrie for sub 400k and Lawton or surrounding suburbs.

    Brisbane is a riverside city, people here go fishing in their own boats and swim in their backyard pools. When we need a nice beach we hit up the GC or SC. Its not that far to get up to caloundra or moolloolaba beaches for those living northside and for those southside, it's a similar hours drive to theme parks and southport.

    Water views and access to water are more important than beaches. Look at Brisbane's Manly suburb, biggest boat harbour and million dollar homes with sea views. No real beach but still premium suburb. Why? Ur clients might do better buying a townhouse or apartment in this area for 400k(not sure if u can get much for 400k though) maybe a suburb away at Wynnum or lota
     
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  17. David Shih

    David Shih Mortgage Broker Business Member

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    Awesome thanks for chipping in the local's perspective, much appreciated :)

    Yes my clients are mainly buying around Petrie with good land component. For me it's first time hearing the concept of buying townhouse/apartment around Wynnum/Lota though, will have a closer look at this as well.

    Cheers,
    David
     
  18. wombat777

    wombat777 Well-Known Member

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    Does anyone have 20 year median price charts for suburbs in the Moreton Bay region?
     
  19. alicudi

    alicudi Well-Known Member

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    Hi all

    Contract of sale and price list as at 01/07/18 for The Narrows Estate Newhaven for those of you that may be interested, still a little pricey as far as I am concerned as they should be priced no more than $299,000.

    Regards,

    alicudi
     

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  20. wombat777

    wombat777 Well-Known Member

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