QLD Should we give up on Brisbane?

Brisbane is a long term play.

Houses built on 600m blocks in the early to mid 2000's around the same price as newer houses on 300m blocks. Makes sense to buy for long term buy and hold with minimal holding costs depending on what is ones strategy.

 

I think the floods, and state govt really hurt brisbane and the last 5-10yrs isn’t reflective of Brisbane’s true growth potential. If we look long term Brisbane has still done over 8% per year for the last 45yrs. Actually very similar growth to Melbourne & Sydney long term, just not this last cycle.

If the past is anything to go by, Brisbane sitting flat for the last few years means it’s got huge potential to grow IMO. Just needs the stars to align

Agree with a lot of the comments around buying Bmv, using some sort of add Val strategy or at least buying with it in mind.

 

have you been to brisbane recently?? the amount of development going on everywhere, its no where near a country town.

its long past its 'country' feel and is turning/turned into a thriving metro city

And in many parts of the cbd it still may not be as busy as sydney, but its definitely a vibe

 

Too many options.. Goldcoast and sunshine coast great places to live if you can find work. If anything, SEQ is how a property market in Australia *should* look! (grows at about inflation, most things are relatively affordable for wages, you don't have to work 50+ hours to afford a house). Sydney and Melbourne are just broken markets.

That said, now everybody now seems to be down on Brisbane, and selling out, probably will boom.

 

It obviously doesn’t get as much coverage as the big 2 either, and we all know sentiment and emotion can be a big driver.

I’d also say this forum isn’t a reflection of how people on the ground buying in Brisbane feel, we discuss and look at data, however your average buyer see’s the news that Brisbane is “due for 22% growth” according to BIS and it starts getting a lot more focus and urgency, a bit of FOMO is what we need!

 

The city is growing at a decent rate, which by its very nature should ensure demand for quality, well located property. You could also argue that developments including howard smith wharves, cross river rail, new airport runway and the $4.2bn dollar casino project are each bigger individually than anything the city has seen over the past few decades. It is also larger than many well known 'world class' destinations within the U.S and Europe. For anyone looking to 'diversify' out of volatile Melbourne and Sydney markets you could do alot worse.

 

Victoria.

 

From my interactions with buying and selling agents across the city Brisbane doesn't attract much interstate or overseas investment. There are opportunities but you need to do your due diligence to ensure you aren't relying on boom-like growth to achieve your goals. The entry prices do allow the average investor scope to add value and extend beyond a single investment, all eggs in one basket scenario. Owner occupiers are also willing to pay for finished product in desirable areas with a lack of supply. School zones, proximity to cbd etc the same fundamentals apply to any major city. If there is a sudden catalyst for overseas or interstate investment then consider that a plus. The Casino could be a catalyst and I'm willing to put a few pennies on the table

 

When are these projects beginning?

 

I agree, Queens wharf casino will be world class and hopefully bring in a lot more oversea’s buyers. Can’t remember exactly but something like 30 top restaurants as well. Brisbane live above roma street is meant to world class in terms of entertainment as well.

In terms of interstate, one top selling agent said 50% of her buyers right now are Sydney and are all wanting quick off market sales. 3 of those sales in the last week (premium suburb 1.5m+ for houses, units $500+)

It’s not house on fire stuff but east Brisbane has a lot of buyers right now and not a lot of good stock, surley that’s a recipe for price growth

 

Already started building

 

Brisbane has been disappointing over the last decade because it came off the peak of the mining boom - and in fairness, Brisbane shrugged that off pretty well (compared to Perth). Brisbane just doesn't have the diversity of economic drivers that Sydney and Melbourne have. And even though it has population growth, that growth is largely from inter state migration and includes retirees at a different stage of their economic life.

That said, for long term investing, any of the big three eastern seaboard capital cities are good places to tie up some capital.

 

Patience..
The time for Brisbane to grow will come.

 

When was last boom in Brissy??

 

So does this still ring true...... or have we moved from this

Why Hasn't Brisbane BOOMED

 

Brisbane cannot boom like Sydney until Chinese and Chinese Australian paid top prices like in Sydney

 

Wow I didn't realise projections were so low for BNE

I never expected Melbourne levels of growth, but that seems particularly low. I wonder what assumptions they used for those calculations.

 

Brisbane time will come. On another post someone posted this:
Population Growth Steady Nationally, While Growth Slows In NSW And Vic But Accelerates In The Other States

I don`t think Melbourne or Sydney will give the same returns as last 5 years. Boom happened. Mini boom now due to low interest regime + potential FHBG next year. Other than this, steady growth. Boom and flat periods cannot go forever.

 

A couple of years before the GFC

 

They’re are all in construction..