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QLD What does it mean for an area if government housing is being sold?

Discussion in 'Where to Buy' started by ej89, 27th Oct, 2015.

  1. ej89

    ej89 Well-Known Member

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    Hey guys,
    I was looking at a few places in and around Brisbane and noticed similarities between floorplans and house designs in a specific suburb. I had a feeling they were government housing aka housing commission so I checked pricefinder and found that my guess was correct.. I noticed a few of these selling in the suburb. What does it mean for a suburb if the gov is selling off their housing commission houses? I guess it doesn't automatically mean more owner occupiers because investors could buy them.. Is this a good sign for a low socioeconomic suburb?
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    It means that they're costing too much to maintain even by social housing standards.
     
  3. ej89

    ej89 Well-Known Member

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    So that'd be the only reason for them to sell them? They seem well kept these ones
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Some govt. housing is built extremely well. The bones of my PPOR is from an ex govvy - it's been extended/renovated throughout since but the original home was in excellent condition and built to last. Elderly, long-term owners prior to me helped as well.

    Cheers

    Jamie
     
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  5. JohnPropChat

    JohnPropChat Well-Known Member

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    Govt also cashes out when possible and builds newer homes in cheaper suburbs/newer estates.
     
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  6. JesseT

    JesseT Well-Known Member

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    I was told by my REA when buying in Logan that they were doing this to split up some of the local ghettos and clean up some of the trouble areas.
    If true, I would expect this to benefit the suburb for gentrification.
     
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  7. Liela71

    Liela71 Active Member

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    Have a look at Airds in Sydney, the whole suburb is being pulled apart, sold off and developed. All housing properties.
     
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  8. Jamie_

    Jamie_ Well-Known Member

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    In my area they just sell them once they become uninhabitable, to the point of knock down.
     
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  9. D.T.

    D.T. Adelaide Property Manager Business Member

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    In some of the Playford council areas they've been either demolishing the state housing or renovating them to sell to FHBs or private investors. This makes the area much nicer and improves its value, imo
     
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  10. Sonamic

    Sonamic Well-Known Member

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    The Government is not above making a bit of profit out of property too. Is it cheap? Can't blame them for selling them off, they have to fund the ghetto unit blocks for housing commission somehow.
     
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  11. HUGH72

    HUGH72 Well-Known Member

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    I think its positive for the area especially if some are bought by owner occupiers as it will improve a suburb.
    I know that there is a trend to try and spread social housing more evenly through many different suburbs to stop areas becoming gettos.
     
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  12. York

    York Finance Broker Business Member

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    Yeah like New Leaf at Bonnyrigg @ej89. Remember about 10 years ago when that whole area was housing commision? Right next to Bonny Plaza. They bulldozed it and rebuilt with brand new TH and FS homes. Really cleaned up that part of Bonny. I can only see it as a positive. Encourages OO to buy in the area for their homes and also increases probability of gentrification.
     
  13. York

    York Finance Broker Business Member

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    Where in Logan was that?
     
  14. pugstar205

    pugstar205 Well-Known Member

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    Most of the social housing for sale will be 3-bed / 1-bath detached houses. These are replaced with 1 & 2 bed higher density housing, usually in the same suburb. It's about matching supply with expressed demand from the housing register (more singles, less families).
    Those people here suggesting that the gov sell-up to 'cash in' the gain, or divest in one suburb to build in another further out are incorrect. It's simply about getting the most outcomes for the tax payers $. Sell 1 house, build 2 units to replace it etc.
     
  15. JesseT

    JesseT Well-Known Member

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  16. MTR

    MTR Well-Known Member Premium Member

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    This has been common in Perth, ie Coolbellup, Girrawheen, Koondoola, Lockridge to name a few.

    These areas are relatively close to the city are Government also rezoned the land which has pushed prices through the roof, as developers jumped in to purchase land at bargain prices.

    There are also pockets within various State Housing areas where only FHB can purchase, totally renovated and were sold for less than going market value.

    This improves the area and hopefully helps take away the stigma.

    MTR:)
     
  17. 2FAST4U

    2FAST4U Well-Known Member

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    They should bulldoze Claymore while they're at it.
     
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  18. Tekoz

    Tekoz Well-Known Member

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  19. JesseT

    JesseT Well-Known Member

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  20. Tekoz

    Tekoz Well-Known Member

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    You saidthat in the thread above mate :eek: