QLD May the FOMO force be with Brisbane ?

agreed...but I think it wont be that easy for mexicans to just waddle across the rio grande and buy brisbane property with little competition like they did the last few years. I think they will be met with a fair amount of local competition ( I say this based on jobs increasing, salaries competitive, and supply, whilst high- its not noticeably increasing like it was in the near past).

 

OK gringo...you are on.......bring one the Alamo hesse....

Yeah....the Rio Grande is dangerous......full of rapids these days hesse....

 

2-3 years imho.. then party like it's 2003

 

Not sure if this was meant for me Señor but Queensland has often been a retirement place that's what drives expensive apartments with views out across the Gold Coast and so on is people selling their house close to the Melbourne CBD fire example.

As others have pointed out Brisbane is doing well with the investor stock a lot of the suburbs that were cheap relative to their neighbours have more or less equalised and that's from investors picking bargains. Hard to find cheapies like a few years ago like you did Sash.
But until the economy starts to pick up at a bigger pace and we get more job creation and migration we won't really see a rapid rise in prices. JDP1 posts on this a lot local economic factors are important. This thread is now probably about the 7th Brisbane thread asking the same sort of question.

If I was still buying I'd be buying now in Brisbane. I wouldn't leave it until later. Now is the time when there are opportunities. Look at other states they have either had a huge run or they just don't have the fundamentals, the size the amenity and the geography that Brisbane has so I don't see them doing anything ahead of Brisbane

 

Ok you mean 'ese' not Jesse.

 

I think that's a pretty good educated guess

 

Well we have a precursor to those domain and real estate articles saying Brisbane is moving and that is articles on domain and real estate saying that Brisbane offers great value and saying it's more or less overlooked and how is maturing. Also refer Bernard Salts/KPMGs latest report. I think the word is spreading out there amongst Australia that Brisbane is good value and is worth checking out.
After all there's a lot of vested interests in people continuing to invest and borrow money so marketing brisbane from inside AND outside of brisbane is strategic for the broader industry. And it's a pretty hard argument for some people to get them to believe that Sydney and Melbourne arent pretty extreme. It feels to me a little bit like Brisbane will have the next national focus.

 

That's when we get a boom even the locals get excited and confident too.
Brisbanites don't even know what mortgage stress is and they have the money to find out ( less 15%)

 

Hola Caballero.....

I am told by stat expert RetireRich101 that I have bought inferior properties (houses) for less than 260k....so I will have to wait and see.....as he da stat man!

I agree your assessment and JDP1......it is time for Brisbane's time in the sun!

Adios... ...till I cross the Rio Grande next....

 

"J' in spanish is pronounced with like a "h" ....so Jose is said Hose with an accent on the "e"....

Adios....

 

Yep..when the locals realise that jobs scene isn't that bad and getting better in Brisbane is when I think they will take more risks like the Mexicans currently do in spending on big ticket items like RE. To that extent, I would also not be surprised to see the auction clearance rate increase...perhaps not substantial but a gradual increase as local confidence in the Brisbane economy grows. Jobs will be absolutely key to this. People need to feel that they have choices and options regarding jobs, just like Sydney and Melbourne currently do. This is a big reason why those south of the border bid crazy- even for small crappy ones way out west.. Probably closer to Perth than Sydney/Mel..... Because they know that if they need or want to get another job (likely just as good) they can relatively easily and thus can take risks and spend with more freedom.
If these conditions happen in Brisbane (getting there)..then you will strong demand and as long as there are no big new supply announcement s (in Brisbane, I'm not referring to land releases in Logan/Ipswich etc), then you will have the main 2 ingredients for a boom...which is inevitable

 

Yep....also Sydney is losing a lot of IT, accounting, clerical jobs as labor is too expensive even if 457 visas are repealed it will still happen....the next wave will be engineering jobs in construction as the boom in construction winds down in Sydney...then it will get interesting

 

I speak fluent Spanish. And i don't know what a 'hesse' is.

 

Mexican american slang.... for "dude'.....I used the english spelling to emphasise 'h".....

Used in Southern California by Chicano.......

 

Yes so 'ese'. No jota buey

 

brisbane suffers from some pretty major short falls in my opinion - i was born and bred in brisbane and having only lived away from the city for 8 years, i now really see how constrained it is.

- professional & financial services income still averages 25-30% lower than southern siblings, yes i'm sure you can find a handful that have similar incomes but for the most part, theyre lower.

- roads, theyre all rubbish - literally one or two roads in and out... ipswich rd, centenary hwy, gateway motorway, gympie rd, waterworks rd, sandgate rd...whatever side youre on - it's a nightmare

- public transport - the transport minister was axed after the queensland rail fiasco, the population just does not warrant frequent enough time tables, people live too far from train stations and forced to drive there however, theyre always packed by 7am.

- education - partly driven by population but there just isnt enough real good quality schools that are heavily renown... then the good ones need to rezone because they become too popular

- no real suburban culture, character or diversity - my observation of brisbane is you go to indooroopilly, mt gravatt, chemside or the city for retail - the cafe vibe and social integration is lacking - everything feels like big box generic retail... ill use melbourne as an example here... you can live in prahran and experience various "villages" within 5km with very, very different vibes - chapel st, high st armadale, hawksburn village, toorak village, toorak rd south yarra, church st richmond and then there's the other side of the princes hwy into caulfield and the likes - this atmosphere, call it character is what is lacking in brisbane and one of the major reasons it'll never boom like sydney or melbourne.

330 days of the year the weather wins hands down, property is cheaper, beaches are 60/90 minutes away but jesus it's boring as ******* and frustrating as hell.

 

A 100% honest comment... and I believe you are right... if Brisbane can fix these things...

 

I agree. The points raised are obviously a key reason why Brissie is not as desirable as Sydney or Melb. But, of course, these things can change over time. Melb is the perfect example. I understand it wasn't always a vibrant hub of culture and cafes, but after a concerted effort, it became one. Apparently Adelaide is well and truly on its way too.

 

Does Brisbane really need to fix them? There's a reason why it's never worth more than like 80-85% of Sydney even at its peak.

 

i dont think brisbane can fix the stigma it attracts - it's faced these issues for at least 20 years, i just cannot see an influx of large corporates entering the local market, mass population increase or any industry boom (outside lng/mining).

it's a nice place to live, great place to grow up and offers a very reasonable lifestyle but it is a very different environment than sydney/melbourne which is why i can't see it achieving vast capital growth.