QLD North Brisbane - middle ring growing fast.

interesting data here
Brisbane’s biggest house price discounts - realestate.com.au
Some good suburbs having big discounts. I am very surprised by Indoroopilly as the growth last year was pretty good (by other news article reports). Grange and Dutton Park on the list too. These are good suburbs.
I can understand logan, ispwich, moreton bay. They are further away, historically tend to drop first and rise last.
I am predicting drops in Brisbane. Catching the flu from Sydney and Melbourne.

 

My suspicion is that there just hasnt been many listings or much movement so the sample size is likely to be quite low and difficult to draw too many concluaions

But... suburbs like Grange and Indooroopilly certainly were reaching a point that priced a lot of Brisbane buyers out and if there are less Sydneysiders moving up then it wouldn't surprise me if there were less buyers in the market at that range

 

I think the validity of the data is reinforced by the fact that it is the typical low performing suburbs mostly populating that list. That shows me that prices are dropping. As those suburbs always drop first. In the case of Indo you may be right, that it overshot the mark. A lot of Asian attention in that area the last few years.

 

Melbourne outer ring has been doing well for the last two years...but I bought in Brisbane.

Regretting my choices these days.

 

At least you bought something and didn’t sit on the sidelines talking about it. I’m sure once Brisbane finally starts moving you feel better about the decision...at least that’s what I’m telling myself

 

If it makes you feel better Melbourne is diving. Bne will drop too but not by as much

 

There is some great opportunity in all of these Suburbs currently. I've recently purchased in Everton Park. Cheers for the post

 

Hi Mark. I’ve also purchased in Everton park this year. Great choice

 

What about Northgate/Banyo/Wavell Heights? lots of reno's and knockdowns occurring there......

 

November core logic figures show Brisbane houses flat at 0.07%. Still holding steady as Sydney & Melbourne continue to fall.

People have talked about the divergence from historical averages to the southern capitals. Well I think in 1-2 years this will return to trend simply due to large falls elsewhere.

 

Are you saying you think the historic trend of the gap closing between Brisbane v Syd and Melb will come via prices dropping in the other 2 rather than growth in Brisbane?

What about the growth drivers in Brisbane that aren’t influenced by Syd or Melbourne? Surely this will ensure some local growth regardless of what is happening elsewhere?

I hope so or my early retirement plan is out the window!

 

Yes..

I think general national conditions and tougher borrowing standards will keep Brisbane subdued, unless there is mass migration to Brisbane (circa 2003-2004) which would bring some money here.

Well I have 3 in Brisbane, so I'd like big rises too, but can't see much more than 3-4% for the next couple of years. That's better than going backwards though!

 

Agree it’s much better than flat or going backwards. I’d also like to think that 3 to 4% across the board still means some suburbs will be in higher demand and therefore see better growth than this. Hopefully I’ve picked the right ones!

 

Hope and prey!! haha

 

Thanks for the post Whitecat. And for your prediction.

What would you think about houses in Loganlea. TBH i don't actually see a lot of units in Loganlea, so i am wondering what the number of transactions was that leads to the alarming figures.

Do you think house prices in loganlea are similarly affected?

 

Houses in loganlea will be affected more than inner suburbs. We will see drops accelerating in bne in March quarter. Listings have increased significantly one stat indicated 25%. and its not even selling season. People are getting out of bne too.

 

Thanks for the insight. A wild change of topic - rent in Mt Tamborine appears to be skyrocketing. Not sure why.

 

Would be interesting to see a comparison graph of infrastructure spending in Brisbane vs price growth. Think we'd see a pretty close correlation with infrastructure spending and price increases.

Qld has largely been without monster infrastructure spends since the tunnel/bridge splurge in 2011-2014 ish. There is a big turn around in this with some major projects getting off the ground from BCC and State backed that will give a big boost to local economy etc. That's without the private sector pipeline which I think will take off in 2019/2020 once the Queens Wharf tender is awarded and the main works start there. There will be a few developments in the city that will try to cash in on the Queens Wharf hype whilst construction is happening.

 

Well I'm in the process of refinancing some properties I have in North Brisbane,

My valuations are coming back more than expected and with significant increases in value. Valuations done by 3 separate independents and banks. CBRE, PRP and JLL all coming back with great values.

 

Hey mate, What locations are these properties at if you don't mind me asking?