QLD Keperra n Mitchelton

Discussion in 'Where to Buy' started by adickt, 21st Oct, 2015.

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  1. adickt

    adickt Member

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    adickt, 21st Oct, 2015
    #1
  2. Inov8ive

    Inov8ive Well-Known Member

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    Yep Keperra's already moved a fair bit in the last 6 months. It will be hard to find something under 500 next year
     
    Inov8ive, 21st Oct, 2015
    #2
  3. TFBoy

    TFBoy Well-Known Member

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    TFBoy, 21st Oct, 2015
    #3
  4. gman65

    gman65 Well-Known Member

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    Agents at the moment loving the underquote.. i don't think it would have sold for anything near $439k ;) Although keep an eye on the floodmaps.
     
    gman65, 21st Oct, 2015
    #4
  5. R377

    R377 Well-Known Member

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    I looked at two in arana hills both around offers over $430k. Had 6 or 7 offers on each after first inspection. One went for 470something and the other one went over 480k
     
    R377, 22nd Oct, 2015
    #5
  6. mcarthur

    mcarthur Well-Known Member

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    Wow. I've been watching but not seriously looking at Arana Hills.

    For those two, do you think they were worth that much, or are people starting to overpay?
    Did the buyers seems to be FHO or investors?
     
    mcarthur, 22nd Oct, 2015
    #6
  7. dan2101

    dan2101 Well-Known Member

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    The concept of paying under 500k for something less than 15kms from the CBD and it to be considered 'overpaying' is so hard to grasp when you're from Sydney. I guess this is the reason so many sydney siders are flooding the Brisbane market and pushing prices up! Keep it coming!
     
    dan2101, 22nd Oct, 2015
    #7
  8. Pier1

    Pier1 Well-Known Member

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    The majority of Keperra north of Samford Rd was DoH, now slowly being sold off
     
    Pier1, 22nd Oct, 2015
    #8
  9. gman65

    gman65 Well-Known Member

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    gman65, 22nd Oct, 2015
    #9
  10. Art Vandelay

    Art Vandelay Well-Known Member

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    We've recently bought in the area for almost 10% over the 'offers over' price. Will post details once we settle, but there were apparently 8 offers the afternoon of the first inspection which was 2 days after it was listed.
    Property was definitely listed for less than what it was with as the owners were after a quick sale.
     
    Art Vandelay, 22nd Oct, 2015
    #10
  11. tmanski

    tmanski Member

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    Another suburb that is worth looking into i think is Ferny Hills. We missed out on a property there recently. Listed over over 520, offered 542 and it sold for 552.
     
    tmanski, 23rd Oct, 2015
    #11
  12. dan2101

    dan2101 Well-Known Member

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    Re the under quoting I queried an agent about a property and she said 'you'll have to offer at least 10% above the asking price to be in with a shot'. Well why don't you put the asking price up 5-10% more than you've listed it as then!?
     
    dan2101, 23rd Oct, 2015
    #12
    gman65 likes this.
  13. R377

    R377 Well-Known Member

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    Yes prob around that figure. I bought there 18 mths ago and at a guess they would have been worth around $450k then, so 470-480 is about right today... Actually maybe a touch cheaper as anything under 500 is getting harder to get
     
    R377, 23rd Oct, 2015
    #13
  14. vbplease

    vbplease Well-Known Member

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    I agree..

    I think this is really odd that underquoting is becoming the norm in Brisbane?? I'm so used to agents listing a price for what the sellers want.

    I'm wanting to sell a unit at the moment and the agent wants to advertise it 10% under value to generate a lot of interest.. I'm now looking for another agent as this method makes me want to kick the agent in the b@&^%#$$
     
    vbplease, 23rd Oct, 2015
    #14
    gman65 likes this.
  15. TFBoy

    TFBoy Well-Known Member

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    TFBoy, 23rd Oct, 2015
    #15
  16. gman65

    gman65 Well-Known Member

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    Nice reno and flick.. I'm pretty sure they will do well out of that one.

    This one I looked at has an interesting visual history:

    11 years ago: $305k

    6 years ago: (asking "mid 400s", on market 8 months, sold $430k)

    http://www.realestate.com.au/property-house-qld-ferny+hills-105412133

    3 years ago (asking $395k..on market for 12 months, sold $360k)

    http://www.realestate.com.au/property-house-qld-ferny+hills-111160947

    September (on market less than 5 days; still awaiting the final price, but probably $520-530k)

    http://www.realestate.com.au/property-house-qld-ferny+hills-120522357
     
    Last edited: 23rd Oct, 2015
    gman65, 23rd Oct, 2015
    #16
  17. mcarthur

    mcarthur Well-Known Member

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    So $20k buying costs, $8k holding costs, perhaps a very low $10k Reno if you're good, then 2% selling of another $10k. So $421 + $58k = $479 break even on gross. If they sell for $500, then there's $20k to split with the ATO, perhaps $13k in the hand. If sold for $550k, then perhaps $43k in the hand. The latter is not too bad for 4-5 month holding (if it goes for a 4-6 week sales campaign plus 6 week settlement) with little risk.
     
    mcarthur, 23rd Oct, 2015
    #17
  18. tmanski

    tmanski Member

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    tmanski, 25th Oct, 2015
    #18
  19. JDP1

    JDP1 Well-Known Member

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    The issue is they are pushing out the locals who do not have access to the vast equity gain the southerners have from their booms in the past few years.. It's a catch 22- on one hand brisbanites want equity gains, on the other, still affordable to buy. Can't have it both..
     
    JDP1, 25th Oct, 2015
    #19
  20. Kangaroo

    Kangaroo Well-Known Member

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    Are there any FOMO feeling in local Brisbane yet ?
     
    Kangaroo, 25th Oct, 2015
    #20
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