QLD Should we give up on Brisbane?

Highest migration by numbers yeah but the change in median house price is only 1.2%

 

Ok Brisbane is booming now I guess ! I’m not trying to upset the pro Brisbane posters. I just put this up to point out I think Brisbane missed out on boom and will continue to lag behind as people want lifestyle of GC and SC.

 

Like everywhere markets within markets I can confirm much larger increase on properties I bought a year ago.

 

You are correct it totally depends what suburbs you buy in . We bought a vacant 400m2 block in 2014 for $450k and one sold in the same same suburb same size with no significant views etc last week for $815k. We also bought an investment property (4 bedroom house on 630m2 ) 2 years ago for $815k which we could now sell for over $900k . Not astronomical returns but certainly much better than the official average returns across Brisbane during these timeframes . It’s not rocket science , buy in blue chip areas close to the city and in good school catchment zones and you will do well .

 

I love the opportunities in Brisbane. There are so many. I actually see myself doing most of my property work in Brisbane over the next 5-7 years.

The key is utilising the right strategies suited to the markets there. And building the networks with the right people.

 

Who says it's only worth 197k? You don't even know the suburb or address? It's now worth around 300k. We bought it way under market value, did a quick reno and increased equity by about 80k+ after the renovation costs. It's not underperforming as you have said, we call it buying undermarket, then adding value via a simple renovation, not easy to find but very profitable when the right opportunity comes along. 80k for 6 weeks work AND 9% yield if the buyer wants to hold long term is pretty good going for Brisbane. Anyone who can find me deals like that in Brisbane/Logan I will happily pay 8-12k BA fee...!

 

sorry just going off your previous post stating land value in 2019 was $197k. $80k is a great result in a short space of time, I’m a big advocate of creating equity by adding value. I just argue the point of buying in a low growth area that is all, I also argue what you call buying BMV might actually be because there’s very little demand for it. We can agree to disagree it’s fine
9% yield on over $300k? Has it got a GF?

 

I said we bought it at land value I didn't say it was worth 197k

No granny flat just your regular 3 bed 1 bath house. Total investment with the reno 216k and we rented it for $370 a week due to some special features it had that tenants love in Logan. Don't forget the median rent for most 3 bed 1 bath houses in Logan would be early 3's anyway.

As mentioned previously there is no catch, the house is not located in a flood zone or on a busy road. It's purely and simply a GREAT buy! I can guarantee you any 3 bedroom house that does not need a new kitchen and bathroom as part of the renovation in Logan with a selling price around land value will attract a lot of demand. Here's one that needs everything and it sold for 175k
https://www.realestate.com.au/sold/property-house-qld-beenleigh-131752606

 

Oh no!!!

Time to sell up my Brisbane portfolio NOW

 

Sell up folks! Nothing at all to see in Brisbane, move along now lad. May wanna try your hand in SA or NT ..

 

Brisbane is quite lively now within the 10km radius of CBD.
I can say the valuation is about $150k more than it was 4 years ago.
Not doing a single renovation but will probably subdivide when times come.

Yes I did pay a bit more in 2015, but it is all worth it in the end for this type of place.
Next 5 years will be interesting to see where it goes.

 

We have been involved in buying properties in
Cairns
Brisbane
Ipswich
Toowomba
Townsivlle
NSW Central Coast
Tweed Heats
Sydney
Parramatta
Hunter and Newcastle
Perth
Albany
Geraldton
Melbourne
Mornington Pennisula

Next year we are buying in NT and Tasmania as well
It's an interesting space for me, build costs largely same. Rent varies somewhat, but above market (SDA for NDIS participants)

So many people are chasing cashflow.

Most people buy in their own backyard.
Or places they have bought before
QLD government is terrible
Don't think we will get a better one.
We chose to headquarter our national business there cause we live there.
Would we move to another state. Not even a consideration. I'm interstate 3 days a week as it is.

My conveyancing practice has gone from 350 a month cottage conveyancing. To 150. Interstate investors have disappeared. Finance fall overs are way down, were massive as we transitioned.

So many developments in Brisbane do not add up at present.

The economy is terrible. My commercial leasing team spend significants amount of time trying to talk people out of signing leases, hospitality especially. We look after a lot of hospitality businesses. Business is terrible, very few are making money, wages are ridiculous, rents are too high, compliance costs are high.

5km from CBD - awesome. Hard fought to buy house in most cases.

Outside that I'd be concerned.

I'm no expert

 

I don't understand the fascination with buying only 1 area. Different areas of the country perform differently...I am gobsmacked how irrational people are in Sydney......or even Melbourne.....you need to diversify or your portfolio can take a massive hit at some point.

I think Brisbane will perform..but when it does I intend to sell down 3-4 of my 7 places. Most of mine have moved a bit already.

 

Dexus to deliver $2bn twin towers in Brisbane

 

well said, exactly my thoughts as i intend on moving to brisbane in the next 12months from sydney.

 

Clever! Ransome Burbank Mount cotton all fabulous

 

Uh... Mount Cotton is 42km out, 37 min drive off-peak, over an hour peak, public transport forget about it, and more deadly Eastern Brown and Red Bellied Black snakes than you could shake a stick at. Nothing fabulous about it.

 

Uh... according to Google Maps, it is 34 kms from Mt Cotton to Brisbane CBD .

Uh... public transport is atrocious is all of Brisbane - bloody buses .

Hardly Mt Cotton’s fault .

Uh... I have live in the area for 31+ years. In that time, I have seen (from memory) two red bellies and one brown, around our pool seeking water .

Not even enough sticks to start a small camp fire .

 

Most people don't commute by helicopter.

Good suburbs have good public transport links and you can be in the CBD in 20 mins.

Sounds lovely to have seen only a handful of deadly snakes round your pool.

Mount Cotton has also been labelled the greatest fire risk in South East Queensland.

Mmm... where do we all sign up?

 

I like mount cotton!