QLD What's going on in Brisbane?

Sorry "plaque", damn auto correct.

 

Absolutely.

Need to be careful what I say though as there is a measles outbreak up here at the moment.

 

I sold a Waterford Townhouse with river views a year ago to Asians wanting to house their elderly parents. Mainly sold then due to stupidly crossing loans and bank staff not knowing their own policy.

I believe there will be growth in the next two years so holding off selling my Parkinson property.

 

What's happening in Brisbane?
Thr same as last year.
Things going on but private sector employment is a real issue. The state govt has to trying fill the gap with employment as private sector -although growing - is not delivering enough jobs to support the population.
This is a reason why growth is moderate along with supply additions.
Contrast that to Sydney and Mel where jobs are plentiful and have some supply restrictions either physical or price and that is why they are still growing despite their already high prices.
The good news for Brisbane is that thr private sector is growing and will continue to add on jobs, but this is a slow process and takes a huge amount of patience.

 

And even then I would say you would do better off in Sydney if you didn't buy otp
Ie there would be better older options

 

So North vs South has found it's way into this thread as well.
I'm not going to bite this time.

 

What sort of property did you buy in Kelvin Grove because that is a very good area and will always be strong close to the city and close to the Uni and a nice suburb above average in terms of aesthetics and demographics and incomes etcetera.

I agree that the otp (if it's a unit) will not go anywhere for a while the problem is it's going to be very hard to sell as well

 

Without commenting on stats on the ground I am seeing strong opens on properties that are within 15 kilometres of the CBD and I am seeing properties that have good features good fundamentals are selling within 1 to 3 weeks maximum seems to be about 1 and a half weeks before there's a contract on a property.
Further out things are a bit quieter but I gain when a property is priced well with good fundamentals such as close to train a ready to rent condition and good positioning on The Block I eat some scope to add some value and do some things later on then those properties get snapped up quickly
It really seems very much steady as she goes from what I am seeing in the North.
Also seeing a good mix of investors and owner occupiers.
But no boom. Just slow steady growth probably in my opinion as the economic situation is improving and so is job confidence but until we get some big new mines there's economy isn't going to diversified fast enough to bring in a big boom Queensland is still going to take a while to recover from it's dependence on mining.
I see the Adani mine is looking more likely to go ahead things like that have real impacts

 

Are you serious?
that would be the last thing you would want to do to buy one of those new apartments. You will lose a lot of money.
Also don't believe the marketing 9 times out of 10 then not what the pictures suggest they are.
If your brother is dead set on getting an apartment perhaps because he wants to live really really really close to the CBD then he is better off getting some old thing that looks ugly on the outside and spending some money on updating it he's going to have to floor space to do it with an older apartment anyway

 

Yes that's an interesting perspective and one which I'm thinking I agree with there were a lot of people saying why hasn't Brisbane boomed like it should have in the cycle but the thing is we are not up to that point in the capital pecking order cycle yet. Melbourne is still doing pretty well (although less confident press is increasing). When Melbourne flattens off if we don't get a bit of a run in Brisbane then I would be a bit more concerned.

 

Interesting why do you think that is?

 

I have to admit that would be hands down one of the best positions possible in the whole of Brisbane so I understand the price.

 

Johny come lately... just saw this post, great one!
When we were looking, we wanted a Unit/apartment with zero to low vacancy rate, solid, under 5km from city, no frills, pleasant, good public transport.... Don't mind the age but needs to be well structured and well maintained. Something we can get rental income immediately, and retire later.....
Got one in Greenslopes. Not many people know this suburb, but mention Coorparoo or Stones Corner will ring a bell. In fact the other end of our street is Coorparoo.

 

I think north of Samford Road in Mitchelton is a very golden area by that little cafe and train precinct properties are cheaper south of Samford Road because it's a busy road so you're cut off from the heart of Mitchelton

 

My brother is also looking for an inner city (CBD)apartment as a ppor...
I'm trying to convince him to hold off for 12-18 months.

 

That's not always the case, as south of samford road has nice pockets such as parkview, stationview, gizerah streets closer to library are quite peaceful and likened by residents according to local agents and sold prices reflection as north of samford is always busy side. But you are the real master over there

 

Bugger.

I might as well delete my post then.

 

That's right. It takes a while to diversify away from a deep seated reliance on mining like what Brisbane and Perth have. Brisbane, unlike Perth, has made much bigger strides to lower this dependence as can be seen by all thr non mining related construction. It just takes a long time. No doubt Brisbane will get there- it will be gradual increase of non mining amd gradually less reliant on it.
Buy now in Brisbane when prices are still a bit low to avoid paying exorbitant prices in a few years time when Brisbane does have a much stronger non mining corporate sector.
It will be able to hold its own then and be competitively viable against the Mexican capitals.

 

Anyone up north know how Strathpine is traveling?