QLD Mount Gravatt East

Discussion in 'Where to Buy' started by Sackie, 1st Feb, 2016.

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  1. Bran

    Bran Well-Known Member

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    OK.

    @York: hopefully one of my successes. It's yielding 5% as a simple hold with decent growth as a house. All luck.
     
    Bran, 9th Feb, 2016
    #61
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  2. Tyler Durden

    Tyler Durden Well-Known Member

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    Tyler Durden, 21st Feb, 2016
    #62
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  3. Sackie

    Sackie Well-Known Member

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    Sold at 605k?:confused:
     
    Sackie, 21st Feb, 2016
    #63
  4. Bran

    Bran Well-Known Member

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    Bran, 21st Feb, 2016
    #64
  5. Tyler Durden

    Tyler Durden Well-Known Member

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    Ok...maybe I was too lowball. You can amend my original prediction of $650,000 to $615,000. :eek:
     
    Tyler Durden, 21st Feb, 2016
    #65
  6. Sackie

    Sackie Well-Known Member

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    Well I hope 26 gets a great price. Will help with my stock when it hits the market.

    28 is unit development. .so no idea not following that market.
     
    Sackie, 21st Feb, 2016
    #66
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  7. Bran

    Bran Well-Known Member

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    28 sold for 605 a year or so ago.
    DA+BA now asking 850.
    Interesting space, I have an LMR block nearby.
     
    Bran, 21st Feb, 2016
    #67
  8. Sackie

    Sackie Well-Known Member

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    I wonder what's their profit. ..after DA and BA, holding cost, selling costs and gawd knows what else. .100k..maybe little more or less. .
     
    Sackie, 21st Feb, 2016
    #68
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  9. wylie

    wylie Moderator Staff Member

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    Not too bad for one year though, especially if they cannot afford to do the build.
     
    wylie, 21st Feb, 2016
    #69
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  10. Sackie

    Sackie Well-Known Member

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    Agree. Thats more than many people working 12 months, 9-5 will make. Thats about 1920 hours a year approx of full time work (assuming the salary is 100k.

    I reckon the deal would of taken the person in actual hours.. hmm....200 hours max. so at 100k profit, thats $500/hour. Most of it done in pjs :D
     
    Last edited: 22nd Feb, 2016
    Sackie, 21st Feb, 2016
    #70
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  11. Sackie

    Sackie Well-Known Member

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    Sackie, 26th Feb, 2016
    #71
  12. Bran

    Bran Well-Known Member

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    Wow! This is good. Very good.

    A friend of mine just bought a 405m2 block in this pocket with the view to building a similar house. This friend was working on end values of about 900k and decided it was worth it. 1.1m+ makes me, I mean him, very happy, especially if the market has room to grow yet.

    Anyone happen to know the architect/builder?




    @wylie might want to see this too
     
    Bran, 26th Feb, 2016
    #72
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  13. Sackie

    Sackie Well-Known Member

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    @Bran Don't know the architect but the team who designed my development also specialise in builds suited to this type of up market demographic.

    All I know is, for MGE, on a small block with no city views plus there is no pool, to sell for this amount. Its GREAT news! Especially for the implications it will now have for suburbs even slightly closer to the CBD like HP and HPW.

    Loving it big time!

    There is some similarity with the square façade to mine below.


    Property on REA:
    [​IMG]

    My façade design:
    upload_2016-2-26_11-3-58.png
     
    Last edited: 26th Feb, 2016
    Sackie, 26th Feb, 2016
    #73
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  14. Sackie

    Sackie Well-Known Member

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    Sackie, 26th Feb, 2016
    #74
  15. HUGH72

    HUGH72 Well-Known Member

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    Blown away by the price, quality finish and design but small block.
    This area must be changing and attracting buyers at a totally different price point.
     
    HUGH72, 26th Feb, 2016
    #75
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  16. Sackie

    Sackie Well-Known Member

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    Its a demographic that usually buy around 3-5km from the CBD. But since prices there for similar stock are quite high now, this demographic have gotten more savvy and are realising that if they are willing to move out a little, they can buy same stock and save 3,4,5,6,700k at the same time!. Not trying to trump my own horn... but when I bought my site over a year ago.. I was kinda hoping this would happen sooner or later. It seems it might be happening sooner than I thought.

    Look at this, only 7km away from MG. Look at the price difference. People are starting to see great value to be had if they just look a few KM away for similar stock. That's at least what I think/hoping is happening.

    Sold Price for 12A Kanumbra Street Coorparoo Qld 4151

    Sold Price for 74 Greens Road Coorparoo Qld 4151


     
    Last edited: 26th Feb, 2016
    Sackie, 26th Feb, 2016
    #76
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  17. JDP1

    JDP1 Well-Known Member

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    Shhh...we are supposed to say that there are no million dollar sales in brisbane and that its cheap so as to entice mexicans and others to invest big in brisbane..:)
     
    JDP1, 26th Feb, 2016
    #77
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  18. Sackie

    Sackie Well-Known Member

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    @JDP1 We have Mexicans in Brisbane? I promise we wont build a wall around Brisbane then! Come 1 come all! But spend spend spend!
     
    Sackie, 26th Feb, 2016
    #78
  19. Bran

    Bran Well-Known Member

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    This is exactly right. Talking to people at inspections out that way, they all drift from coorparoo outward.

    That's how we wound up there. Only living there, we realized how awesome a spot it was. It's very accessible. The nearest comparable 'culture hub' is stones corner, so has the potential to outshine or at least keep pace with the HP's imo. I'm half contemplating a buy in panorama place, if things were to change drastically (I might get a massive offer for my LMR block this afternoon)
     
    Bran, 26th Feb, 2016
    #79
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  20. Phantom

    Phantom Well-Known Member

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    Phantom, 26th Feb, 2016
    #80
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