QLD Should we give up on Brisbane?

So a boom is basically guaranteed .

 

I know some of our early acquisitions are in the 25--30 years range ,like several other's above and below the 25 year range and just looking at the ucv's on the rate bills that are about to be paid over the next few weeks..
Then if you think Brisbane been the worst performer over that timeframe ,as most have gone up 10x over that period you can establish the kind of atmosphere you want even with in the investment media who some who write as experts were not even born back then just 10cc of dreams..

 

I am no expert by far and am simply showing the data, obviously there are many variables and that's not to say that future performance will be the same, however you cannot deny that the trend has always been that Brisbane is lagging behind, clearly there is more to price growth then just affordability.

Below is the link to the full report for those interested

The Aussie/CoreLogic 25 years of Housing Trends

 

Incorrect fact. Over the last 30 years, historic median price guide suggest Sydney reached about 10.5% per annum capital gain and Brisbane slightly lower to 9.8% per annum. These three are the top performers in the long run.

How did you come up for the conclusion?

 

Yes I read the report and too was a bit puzzled how BRI was the worst one, assuming last?

 

It surprises me too, but as always, it depends on what the start year is.

 

We havent had a recession in 25 years so by that logic, Brisbane should boom when we do have a recession..

 

Incorrect fact? Oxymoron lol

The data is right there, of course I'm sure you can find a specific date where Brisbane will be the leader but over the last 25 years...

 

If we look back further back in history say 100 years, I would be surprised that the difference in growth % is any larger than say 0.2% P/A. Sydney started at a much higher base and the price difference now is mainly reflecting that starting base whether it was 50 years or 100 years ago. The small % difference will result a dramatic compound difference at the end. I also think 30 years is too short of period to compare cities as they have different price cycles. Say at the beginning if city A just came off a peak and ends with a bottom will show a very different result to say city B starts on the bottom of the cycle and ended with a peak in the records. Most of the performance per period comparisons are far too simplistic to provide an accurate growth % in any useful way

 

Absolutely, there’s been times brisbane has lead the race compounded per annum over X period, it’s just swings and roundabouts.

 

due to the nature of compounding the most growth occurs at the latest cycle and therefore the location with the most recent growth when the stats are taken will likely lead in %

 

I would be tempted to buy in Mansfield something like this. I’m not buying anymore though. 37 Aminya Street, Mansfield, Qld 4122 Reason being so handy to everything, proximity to city, you may be able to get a park at local shops, great entry level, public schools, cafes. https://www.brisbanetimes.com.au/na...rant-and-retail-precinct-20191015-p530s6.html

 

Keep in mind that as a lowset brick house owner in Mansfield, you will be automatically placed on a lower level in the neighborhood respect hierarchy no matter how much work you put into your front lawn!

 

At least according to RE.com.au their price expectation is around $650k, estimated value comes in ~$550k. Not sure what you'd expect to do with it. The vacant corner block beside it is a huge red flag for the immediate future. (Overgrown mess, construction noise, Duplexed Neighbor?) It's already been "splashed up" for sale, renting it out might get $450-460/wk. Not a yield play by any stretch and growth in that suburb has certainly slowed.

 

Didn’t realise they were expecting that much! Eek! Maybe prices are already too high then.

 

Wouldn't know for sure when they don't list a price unless asking the REA. I just based that on dropping the max price threshold on RE.com.au until the property drops off the listings. It dropped off under $650. Considering the kitchen and bath looks recently reno'd I'd figure they're expecting a premium.

 

I know a couple of people who have sold two months ago in Holland Park West and Tarragindi for around that! Both were liveable and partly renovated but purchasers purchased for the land so removed the houses. Twice as close to the city!

 

Brisbane is most definately one of my other "swim against the current" predictions that came out 100% correct along my other predictions regarding interest rates and Sydney property, US property and many other things where I was probably the only one that called it (if I may say so myself)

Back in 2015 till now, there were many who recommended Brisbane property as great investment opportunity.

I said it back then when people were getting on a bus to visit and invest in Brisbane and I say it now. The best time to buy in Brisbane was post the floods.

It will NOT go anywhere for at least 5 to 10 years unless if we experience the same mining boom as we did in 2010.

It has been in the position to maintain its price compared to Perth but really, their economy is not the greatest compared to what you get in Sydney and the government has consistently made bad decisions which has sent them broke. I do believe that Brisbane property will either stagnate or even slightly correct before it will experience any kind of boom.

 

One of the places I bought in Brisbane in 2017 was an older house on a 878sqm lot for just over 810k. It has subdivision approval now. Will have city views when developed. If I just wanted to sell the house now with the approval, I'd get about 1.1m to 1.2m based on similar lots sold.

Even after buying and selling costs, there's a very healthy profit in just over 2.5 years if I sold.

Real estate is always on a case by case basis. I'd never join the bandwagon of folks who group many markets into one. In reality I've found it doesn't work that way.

 

You are joking, aren’t you?