No rush buying in Brisbane

Discussion in 'Property Market Economics' started by Noobieboy, 18th Mar, 2019.

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  1. Noobieboy

    Noobieboy Well-Known Member

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    Brisbane are now falling on an annual basis, albeit quite moderately. Brisbane dwelling values peaked in April 2018 and they have now declined by -1.0% to February 2019. To date the fall is moderate however, with housing market weakness entrenched values are expected to move slightly lower or, at best hold firm, over the coming months.

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    Seems like Brisbane is following the lot. No rush in buying.
    Unemployment in Brisbane is starting to worry me, is not moving down below 6%

    Reference.
     
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  2. JDP1

    JDP1 Well-Known Member

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    I wouldn't be worried about brisbane..however there are better buys in Sydney and Mel given their price declines. Will take work to find those though.
     
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  3. Noobieboy

    Noobieboy Well-Known Member

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    They are expecting these "deals" to only become better, allegedly this current downturn may end up being the deepest and longest in modern times
     
  4. Angel

    Angel Well-Known Member

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    No,No, @Noobieboy. You have to ignore any articles that have anything negative to say about Brisbane. The figures quoted must be out of date or something.......
     
  5. Noobieboy

    Noobieboy Well-Known Member

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    :D:D Love your attitude @Angel
     
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  6. MWI

    MWI Well-Known Member

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    Hence it beats me why some of my land valuations just received increased, say on 6 IPs ranged from 5.5% to 20.5% averaging around 12%. More land tax to pay:(? Higher rates to pay:mad:? Why I have been increasing rents slightly....:)
     
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  7. JohnPropChat

    JohnPropChat Well-Known Member

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    Land values for the purpose of land tax lag the market by a few years, they use some kind of moving average.
     
  8. JohnPropChat

    JohnPropChat Well-Known Member

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    This "fall" is more like a ripple. Brisbane did grow at a steady pace in the last 5 years, how much steam it has left is anyone's guess. Could finally boom or this could be it for a while. 2019 will be interesting to say the least.
     
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  9. Noobieboy

    Noobieboy Well-Known Member

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    The saving grace is that people don’t expect Brisbane prices to decline by much. Less than 5% allegedly.
     
  10. JDP1

    JDP1 Well-Known Member

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    Converse is also true...not too many expect a boom either.
     
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  11. MWI

    MWI Well-Known Member

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    What is interesting that most analysts or economists will quote medians for all of Brisbane. I read attached article and what it illustrates even though on average let's say 28.6% growth occurred only in the overall median price in Brisbane in the last 10 years, the top 18 suburbs grew from 51.7% to 76.2%.
    What can you learn from the best performing Brisbane suburbs over the last decade?

    So one must look at their investment strategy and ponder or change a bit if truly investing for CG. Hence I like to play Monopoly in real life, needed few average middle ring IPs to grow CG first, then could buy one great one say within inner ring, and so on....
    Perhaps MY quote of '80% of growth will be in the location and what you buy...?' should make some of us think. However, who has the funds to start from such suburbs, right?
     
  12. MTR

    MTR Well-Known Member

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    Exactly whats the rush, last Syd downturn went for 7 years......
     
    Last edited: 20th Mar, 2019
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  13. kierank

    kierank Well-Known Member

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    Keep that up and I will have to report you to the moderators for unconscionable posting :eek:.
     
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  14. RaoulDuke66

    RaoulDuke66 Well-Known Member

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    Aggregate figures can be misleading obviously. You'd need to get specific about stock type and area. Expecting large falls in Hawthorne or Camp Hill house prices? Good luck with that. Expecting large rises in Logan Town houses? Good luck with that.
     
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  15. Noobieboy

    Noobieboy Well-Known Member

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    Logan is not Brisbane as far as I’m concerned. Similarly Ipswich and Moreton Bay are not Brisbane.

    That said, I agree that location and property details are important. What type of property? What location? What street? Close to what?
     
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  16. RaoulDuke66

    RaoulDuke66 Well-Known Member

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    100%
     
  17. gman65

    gman65 Well-Known Member

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    But booms are also more likely to happen when nobody expects them to

    "Nobody expects the Spanish inquisition!" :D
     
  18. Noobieboy

    Noobieboy Well-Known Member

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    Seems the declines are accelerating compared to a few months back. Was mostly green.

    3DF58130-3BED-4635-9825-73838C971834.jpeg
     
  19. RaoulDuke66

    RaoulDuke66 Well-Known Member

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    I'd break it down by stock. Has the price of a family home within 8km of the CBD on 600sqm really fallen...?
     
  20. Noobieboy

    Noobieboy Well-Known Member

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    Maybe yes or maybe not. I think when the “whole” median turns red it tends to change buyers psyche. They become less and less inclined to buy, which takes out more heat from the market and tends to be a self fulfilling prophecy. Time will tell.
     
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