QLD May the FOMO force be with Brisbane ?

Hey all,

I am not trying to hype things up, just want to convey my recent observation that there are a lot of investors especially the first timers are starting to take notice of Brisbane and are planning to invest there. While I was at a bank in Parramatta, the teller expressed delight when I mentioned about Brisbane, she told me a particular suburb that she wants to invest in and why is it great there. Also have family member here got priced out of Sydney wanting to invest as the first investment.
There's a few friends and colleague who are also looking there. Hopefully I am not alone in this observation.
Looks FOMO force is building up, All it need is just a spark and it should spread like wild fire. What would this spark be? A couple months of positive growth? A dip in the unemployment rate? A dramatic increase in interstate migration?

 

I'm all for Brisbane too, holding plenty of stock there.
However, I'd put bank tellers in the same category as taxi drivers, no offence to either of them, but every one I've dealt with are dumb as ****.
I'm sure there are a few switched on ones out there though.

 

That why I am sensing the FOMO force is strong, when any jone bloke is talking about it.

 

This generally means it's too late, but doesn't seem to be the case with Brisbane.

 

I bought in Brisbane a couple of years ago. When I would go to pick up my hire car they would make small talk asking what I was in town for. When they found out I was looking at a few properties they would have a chuckle amongst themselves that "another" investor from Sydney was here.

Still no boom.

 

It's a false alert trying to take the heat off Sydney, but it's not working.

 

I don't think we are there yet... but I don't think there would have to be a huge increase in sales to push it to that point. As investors have been buying up the cheapies for the last couple of years, it would only require a concentrated activity of new FHB to push it into an under-supply/FOMO vibe.

There still seems to be a lot of stock shifting/coming onto the market around the $500-600k mark in the inner 15km ring, but the $400k stuff seems to have mostly gone over the last couple of years in that range. So when "whatever is the affordable" point starts to become hard to find, that's when FOMO could kick in (I think its around low $500k for the fhb stamp duty exemption - so around that level)

 

Isn't there a looming apartment glut in Brisbane? Not that it'll affect quality freestanding stock.

 

True, Melbourne is a perfect example. But the approval rate has gone down dramatically. So the aptm market is currently self regulating.

 

Nice picture of you....

 

is investor demand sufficient? if there's no movement on the jobs front, and insufficient tenant demand, no unusual increase in migration to Brisbane, why are all these Sydney/Melbourne investors still buying in Brisbane?

then again, Hobart's doing well and I'd be interested to know why. Has there been great growth in jobs or is the growth all down to interstate investors?

 

I'm thinking baby boomers? I have an older cousin who went there for a holiday and has decided to move there. I think it might become funky at some point, if not already.
Also, younger people who get jobs there ho for affordability.
Sorry Brisbane, not sure what's going on with you.

 

Brisbane is about 5years out from fomo to hit...but it will.

 

...it will be sooner...watch Siidneeyyy....

 

Yep, lots of interest in "Brisbane".. so what part of Logan are you looking in?

 

Could..if Sydney slows, some more interest will be with brisbane...and jibs are increasing in Brisbane... But..I think Brisbane still needs further development to have the kind of fomo Mexico has. It's a half baked gunslinger mining town. Give it about 5years for the new developments such as the casino to come online and then you will see more serious fomo.

 

Hey hesse.....lots of Mexicanos headed your way........ looking for refuge across the Rio Grande.....

 

It's been rising slowly. Backend of 2018 will see SEQLD really move. After the games.

 

Not the case

If you're a member of property chat , you're in an elite group but can see every little rumor and in your early days worry that it's a sign the market is peaking .

There are some intelligent members of the public and even intelligent journalists . I remember seeing similar concerns being expressed in somersoft , when I was a newbie and brisbane was just starting to move back in the early 2000's

When markets start to move , domain and RE.com.au will have articles about brisbane starting to move ( as has happened ) , but , IMHO , this is just the beginning .

Cliff

 

i think you will see it move more strongly even in early/mid 2018 ( driven by jobs which are finally picking up pace and indicators seem to support that- number, length, type, salaries etc)...but thats different than fomo. I would say it has to have strong growth ( in addition to the moderate growth it has had the last 3 years) for a few years before you see fomo like the mexicans have seen ( fomo wasnt instantly for them either).