QLD Inner Brisbane Market 'Overcooked'

Discussion in 'Where to Buy' started by Sackie, 29th Mar, 2016.

Join Australia's most dynamic and respected property investment community
  1. Heinz57

    Heinz57 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,948
    Location:
    Paradise
    Thank you for replying. Am fairly sure of the price if sell now. The worry is what will it sell for in one or two years time?
     
  2. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    Yep, not much probability of prices increasing for a while.
    Do not buy.
     
    Whitecat likes this.
  3. Whitecat

    Whitecat Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    4,351
    Location:
    Sydney
    A bit annoying because I want one for an inner city ppor
     
  4. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    You should buy one, good prices.
     
    Whitecat likes this.
  5. Whitecat

    Whitecat Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    4,351
    Location:
    Sydney
    Well the prices are better than before that's true but I'm not sure we are at bottom yet for units. More and more coming
     
  6. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    Probably not, there are a lot more still being built.
    Maybe best to wait.
     
  7. JDP1

    JDP1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    4,244
    Location:
    Brisbane
    What evidence do you hqve of big drops? Im not sure some drops in the market (based on RE agents) is a strong enough trend. And how widespread is this? I dont doubt the ubit oversupply will lead to softness. .just not sure if there is a definate trend going on and if its started?
     
  8. Whitecat

    Whitecat Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    4,351
    Location:
    Sydney
    -Art deco unit new farm last one sold 755 this one low 7s
    -West End older apartments selling for 40k less than the last one that wasn't top floor.
    -multiple emails from agents saying price reduced.
    -talking to agents who deal mostly in units. They have no reason to tall the market down to me. I've built a relationship and they're talking candidly.
    -Units staying on the market for months and months

    Sorry but I don't have time to create a spreadsheet of examples but I've been following the inner city unit marketpretty closely for the last few years and prices are dropping.

    The Stats show it too.
     
  9. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    350
    Location:
    Australia
    The Courier Mail are lapping it up.

    The article is paywalled so Google: "Unit owners' bubble has burst as prices and rent dive"
     
    Last edited: 9th Apr, 2016
  10. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    Feel sorry for some people, it's going to get worse before it gets better.
    Could be a while too.