QLD Should we give up on Brisbane?

BS

What mining happens in Bris...

I think the govts have hamstrung the state, and Petes image looks like he may not be sleeping much lately if recent...... Bris has had chance, after chance, after chance.......maybe we should stop sending our rejects ther e? lol

 

Not sure what you've been "dabbling" with on this Saturday night, maybe drowning sorrows after GWS woeful showing in the grand final?

Mind you I do agree we need to turf Anastasia and Co from govt up here, might get a bit more of the federal infrastructure pie then too...

 

True but before people make that arbitrage, similar arbitrage opportunities must exist for businesses to go and create more jobs.

In theory, Sydney wages should go up making it harder for employers to find staff in Sydney and they then go and start offices in Brisbane and kickstart price growth.

But Sydney wages haven’t grown enough to make Brisbane a cheaper business destination. This is where a good QLD govt. should have added some other incentives for companies to go to QLD.

 

This is my thinking as well. I think I’d be lucky to get what I paid.

 

What did you pay for it?

 

This is true. The flow on effect just hasn’t touched Chermside West yet. Whereas Geebung, Zillmere and co appear to have benefited from the Westfield upgrade ripple effect.

 

I think you have done well. 2009 buying at Qld is equivalent buying at Sydney now days. Just after mega boom.

 

Heaps of properties did well in Brisbane since 2009.
. Many more did very average and even more did below average.

You need to look at the individual property, the individual market, and individual suburb. Also need to look at when it was purchased and how much it was purchased for. Heaps of people overpay, by rubbish properties etc.

I see time and time again people assessing hundreds of markets as though it were one. Brisbane is huge. Gross miscalculation to look at the entire Brisbane as one market. It's also silly to compare Brisbane to Sydney Perth etc.

 

Brisbane has definitely turned. Here's a plot of the Core Logic Index data in isolation.

Chart has been rebased (zerod) to the election date.

The index is 0.805% up from the 12-month low in the index ( which was in early July ). My current forecast is that it will increase another 0.89% before the end of the year.

 

Can you get these graphs for individual suburbs?

 

No data readily available from corelogic.

Have a look at Sqmresearch website. They recently improved the range of suburb-level charts you can look at.

 

Without knowing the details, that sounds like a good property to hold onto. If I had some DA approved dev blocks I sure as hell wouldn’t be selling it before I had time to realise it’s potential. I’d guess that You’ll kick yourself in a few years if you did

 

Paid 570k for it in early 2014, seemed like good value for a splitter block in Chermside West... apparently I was mistaken...

 

And median prices had gone from $160k to $420k in the 7 years before 2009... peak of the cycle... The table that Cody posted shows Brisbane can go for 10-12 years of low single digit growth followed by a few years of 15-30%.

Sydney and Melbourne will probably have a long period of underperformance now and at some point Brisbane will do its dash.

 

A quick search online and it appears mid 6 would be about the correct value, there’s one on for sale for $649k with a DA in place. Hold onto it for long enough, brisbane will lift & make it viable for someone to develop one day

 

Sorry dude, I do not follow, I do not know what GWS is and do not give a rats about sports in general.....

 

lol...Brisbane has turned huh ???????

What planet are you guys on, beside you have money there and hope and pray it grows planet.

I have stuff there too, it has gone up, but facing reality, it is **** poor at best.......

So you keep making your cosy statements, Bris is a big fail, Logan is a huge fail, money would have been better in Syd and Mel, without one wink of a doubt.

 

I think the 1940s thinking is right, put a line up there, and let some other nong have at it.....

 

You aren’t alone .. apart from isolated (and mythical, may be exaggerated) tales of people doing well in Brisbane, real on the ground common investor success stories don’t exist.

My two most prized properties are in inner Brisbane - one is walking distance to Gabba and other is in the most sought after catchment. They tick every single box anyone could have wished for (redevelopment, schools catchments, level blocks, flood free, OO desirability - you name it), but these are also my worst performers on capital gains. Yes, no complaints on yields and they keep improving but no growth on equity side yet.

Someone told me a while ago that Brisbane only grows when Sydney drops and then briefly recovers to peak levels. By their theory, Brisbane’s growth opportunity is this summer or it’s not coming any time soon in near future.

 

I don't know why so many wine and complain but I can see the whole thread is being based upon 5 year time frame, and one property presented at Chermside West, am I correct?
I thought from very general learning on investments, property and shares are to be long term investments, hence meaning at least 7-10 years I assume....?
Yes, we all would like to have the highest, best, biggest returns, within the shortest time frames, yet it really depends on the economy, markets, and time.....etc.
The investments I have made 19 years ago in BRI have served me well, I don't just look at current 5 years, I look back now to at least 20 years ago and also ahead 20 years from now. Who knows what the future holds but I stick to my strategy and long term investment meaning I never plan to sell.
Investing differs to trading, someone wishing to buy and sell for lots of profit is really trading not really investing...what does investing really mean to you? I suppose many trade stocks hence assume the same principle applies to property?
I for one have certainly not given up on BRI, but there are markets within markets, at macro and micro levels, within suburbs, and even streets.
To assume few properties have not performed in comparison to whole of MEL and SYD is really incorrect, IMHO, I am sure some properties in SYD and MEL did not do so well in short or long term too.