QLD What's your price?? Alderley Qld

Naughty camera man! That would be a first

 

If that actually happens, your my new mentor

 

The Brisbane conversation is of great interest to me as I have done mortgage purpose vals on each of the following - a mixture of houses, townhouses and units in locations such as Zillmere, Runcorn, Alderley, Windsor, Annerley, Taringa, Cannon Hill, Wishart and Woodridge - over the past few weeks... and I own properties in Alderley, Windsor and Mt Gravatt East.

I had 3 vals done on each of the locations above.. valuers like Horrigan Kamitsis, CBRE, Opteon, HTW etc....

All the properties were last valued between 2 and 3 years ago...

The results? very little change. Most of them had nudged up between 10-20K, but there were no large increases, in either % or $$ terms. Now this might just mean that this particular sample of dwelling types and locations are a poor cross section of suburban Brisbane . And it certainly doesnt mean people arent paying increasing prices in Brisbane, as many forum members are convinced is happening .... Just sharing this information - people can draw their own conclusions

 

From Residex suburb reports over the last 2 years:
Houses only, a quick look at Cannon hill shows growth of 11% and 14% for the last 2 years.
Mount Gravatt East shows growth of 10% and 9%, Runcorn 9% and 6%.
Were these mostly units or Nras stock?

 

For 1/2015 and 1/2016
Wishart 11% and 7%
Woodridge 8% and 8%.

 

Same sort of results for Taringa and Annerley as well.

 

These were mostly older 2nd hand stock... about a third of the sample was 2 or 3 year old NRAS apartments in Alderley and Windsor and Annerley ... to be honest I didnt expect the apartments to have moved much - although they are all in fairly nice 20-30 packs. There is no high density amongst them. They had appreciated a little.. . What surprised me far more was the 15-20 year old 3 x 2 and 4 bed x2 townhomes and duplexes in Runcorn and Wishart and Woodridge, hadnt really "popped"

But these were mortgage purpose valuations, based on customer estimates. They werent sales. So it may very well have been a case of... bank valuers being conservative by 10-20K , which they may have happily compromised on if these had been sales. Often valuers tend to be conservative but will meet the sale price within a 10-20K "margin of error" ... and if that is factored into things, I guess there is a case that could be made that you'd be looking at increases closer to 30-40K increases across 2 years rather than 10-20K , which is @ 10-12% percentage wise and would correlate reasonably with what you are suggesting

As I said... just putting the sample data out there for all to consider.

We are getting well into 2016 now... there was a lot of hype that Brisbane would be a big performer in 2015 and then 2016... I have always thought it would enjoy a decent run for 12 months or so as cheaper prices attracted more budget conscious investors priced out of the southern states... I guess by June/July we should have a pretty solid picture of whether 2016 is going to be a big Brisbane year. But capacity constraints are still certain to put a relatively tight(ish) lid on how far the Brisbane run ( or any run, really...where $$$ need to be borrowed in ever increasing amounts) can last...

 

Why so much higher over median price for the suburb? I'd go Red Hill

 

So what are the Brisbane bulls thoughts on areas like Taringa and Indooroopilly and Toowong ?

 

Frigging awesome!! Be sure to check flood reports though.

 

Yeqh, id agree. Although toowong may have parts of oversupply. Watch out for that. I think i remember taringsa or parts of iy being flood affected.

 

Was the auction today? Any updates?

 

Passed in. Vendors looking for 900k+.

 

I saw the recent (refinancing) valuations for my three properties last week and I am still spewing. They were done by the same companies that Euro used and ours came in about $40-50K lower than RPData and Domain's desktop valuations from October last year. Way conservative.

Apparently I live in a high risk bushfire zone, even though there are 1200 five bedroom brick and tile homes with outdoor pavers and swimming pools between us and the bush. Each valuation included a paragraph citing threat from oversupply of CBD apartments affecting supply, even though none of our properties would be even remotely considered by a potential purchaser of a CBD apartment.

 

Alderley. Nice, like The Grange, Ashgrove, Windsor and Wilston, and similar to Wavell and Kedron.

By Brisbane standards, these suburbs are gentrified family-friendly suburbs that only a few can afford. Hence us peasants don't even consider them. The high up home sites usually have great views, although the airport and Port probably aren't as attractive to look at as the mountains to the west.

Hills can be affected by water run off and slippage, same as any other hill side.

We should have our next meet up in Wilston. I'll take you southerners on a tour around the haunted houses as they were called when I was a kid.

 

Ha! They're dreaming!

 

So what happens to the game when it's passed in?

 

Everyone is sad ..... Except those that went over the vendors dream price, they're super sad!
The rest that went under can hold their heads high

 

well, this could be the winner.. have to wait n see what it would be sold for

 

The impression I got was that pretty much anything over 900k would be enough to make a deal. So for the bidders who are in the low 900's (in our game) I'd say they are the most likely to win. Just have to keep an eye out and see if any offers go in after auction.