QLD slow brisbane sales and rental market

Two months is a very long vacancy period.

Are the PMs following up inquiries immediately? Are inspections by private appointment facilitated ? Have you invested in professional photos to support a well crafted marketing spiel to attract tenants? Is your asking rent current market value based on evidence? Perhaps a conversation with your PM is required to strengthen your marketing strategy...

 

Run!!

 

The house still sell really fast in Brisbane. However, I noticed that RP data's data in some subs the price has dropped. Specially around Sunnybank and Sunnybank hills. But it is just the RP data but the market sale price has not changed much.

 

I've heard that the Brisbane market is really reliant on interest rates. When they are really low (lowest they've been in years, for example) tenants buy property instead of rent. That means that rents may soften but hopefully this will translate into competition for home owners and prices will go up and capital growth will be decent. In saying that, you're buying a unit or apartment. I've heard many people say it before and also seen many people here mention it, that there is a risk of oversupply of apartments and maybe units in the 10km radius around the CBD.

If I was you, I'd be looking at something different. Or you could just get Lu Bracher to be your PM, she seemed awesome when I met her, and she comes highly recommended by many investors here

 

Agree with @Kael. A solid reputable PM can make a world of differene. @Lu Bracher comes highly recommended from many Brizzy investors. She is on this forum. Maybe have a chat with her.

 

Because he is on a budget

 

But but...

 

Hey, yes the sales market is hot, tbh though I have only been looking at houses and 3bdr townhomes. I wouldn't look at 2bdr townhomes as all the new stock that's been built in inner brisbane is all 1 and 2 bedroom units. I actually just bought a house in Salisbury but it's taken 3-4 months of flinging in offers before we've landed one and this one had 5 other offers in the same week as ours. Living in Holland Park atm but will move into the Salisbury property after settlement. .... but yeah, I would be very careful with 2bdr stock and only consider it if there was something to distinguish it from the 40,000 odd 1 and 2 bdr apartments that have and are being built. They will provide competition for rent and suppress growth in apartment and townhouse markets

 

Ok, where can you buy (a house) under 500k within 10k of the city near shops and a train line (as close as Yeronga) blue chip ?

Not saying they dont exist just wondering where?

 

Yeronga Unit: Median price $447,000, Annual capital growth 4.59%, Number of sales 77, Weekly median advertised rent $383

http://www.yourinvestmentpropertymag.com.au/top-suburbs/qld-4104-yeronga.aspx

Not sure if the above numbers are accurate, median rent $383 for a median price $447k, less strata and rates and management fee's - ouch!

Be careful with the 'growth' for units as there are plenty being built in that area which I assume pulls the median up with the higher prices for new stock being sold.

 

I reckon @dan2101 might just know somewhere

 

Not sure that buying a property to get a tax deduction is the soundest strategy..

 

Where...

Just purchased a 3,1,1 in keperra (10kms from CBD) for 448k. Tenant in place paying $400. It's a lowset brick and tile. I did get it before it hit the market as I'd been in contact with an agent for a few months prior. There is still plenty under 500k you just need to be patient. Close to train line and new bunnings etc just started construction.

 

I would wait for several months and see what's going to happen to the house sales prices and rental market.

 

Not as close as Yergona but achievable just in Keppera, Stafford or Everton Park and probably a few others.

 

Why?

 

Hugh72 I've been monitoring those areas for probably 4-5 months now. I've seen a few listings in everton park and Stafford in the high 4's but they tend to always go well above asking price and hit the 5's (especially in the past couple of months). Could be wrong though! Keperra yes still possible in the mid-high 4's if you're quick.

 

I would wait for several months and see what you are waiting for.

 

That's probably the case, I'm not following sales that closely there as I'm not buying again this year but I have noticed there are still a few listings in the sub 500k range.