Why Hasn't Brisbane BOOMED

Last Friday I talked to two people who are moving out of Sydney and moving north . One to port Macquarie and the other to manly in Brisbane ( they're boaties and like the facilities in the marina there ... )

Cliff

 

Manly is a great suburb. A friend of mine is building a house there right now.

Port Maq on the other hand is geriatricsville.

 

So many people move countries...... 'Wanting' is not the same as 'can afford to'.

 

Was speaking to a guy today also, said his grandmother sold their "asbestos" riden dump for $1.2million in Sydney somewhere. Are using 700k to move to bayside Victoria Point/Cleveland area near the water to enjoy the rest of their retirement. And still have $500k to enjoy.

 

Gotta get Anna to build this border wall before all of these Mexicans decide to head north and swamp this great State of ours .

 

Hey padre Davey Crocket.......we Mexicans coming for you.....it will be the Alamo all over again......just like Tejas..adios...

 

Sister's Boyfriend sold his place in Hamilton about a year ago for a little over $1.6m, 5 bed 3 bath, 3 storey with a pool looking over the river, real nice original restored Queenslander build 10 - 15 minutes from the CBD. Considering your average shotty 3 bedroom about an hour out of the city is around 1m - 1.2m in Sydney, I think that Brisbane is seriously undervalued.. But at the end of the day, it's a bit of the old apples and oranges. Regardless, I think Brisbane is about to see some big growth.

 

1. Yes. I guess that was my point of emphasising "the most". If its really bringing them down then that is the decision they need to make. Change is hard at first. But in the longer run it makes you more adaptable and a stronger person by trying something new. Making friends in a new city isn't easy but it will happen unless you're an a-hole. Family, well technology makes that easier to stay in contact.. And well, nothing better than having a great network of friends and family in a different city - always a place to stay, always events to come down for, pick the best seasons, always keen to go out and do things.. with none of the drudgery of the boring times in between . I was lucky enough to have a couple of friends move within a couple of years, and now even a family member. It's surprising how things can cascade when one person makes the move.

Anyhow, for some they can't overcome those fears, nor want to change. But for those sorts these people they probably shouldn't complain they can't have everything they want.

2. Don't disagree with you there.. here 15 years and I still think it has a long way to go. But I manage.. Looking the other way, I could say the same for down south. Just different perspectives.

 

Beach wise port maq wins hands down though. No muddy mangroves and clean clear water from the river. Plentiful fish everywhere. And much less crowded most of the time.

I would say it's more holidays ville rather than geriatric ville

 

But from an overall location, Manly wins hands down. I think its moved quite a lot, but the suburb of Wynnum right next to it has a lot going for it, not to mention the couple of train stations that run through it. Considering there are the top end properties selling for 1.5Million plus on the terraces, there still seams to be quite a few bargains in the mid 400's that pop up every now and then.

 

I was looking at Wynnum and Manly area. Does anyone think these areas have appreciated too much this cycle to make good investments now?

Are there other high socioeconomic areas that would be earlier in their growth phase than Wynnum and Manly?

I wish it was 2014 again...

 

I wish it was 1980 again. I bought a two bedroom unit in East St Kilda for $26,000 with a loan at 3%. It is now worth $750,000+.

Should have bought the other 10 in the block .... .

 

Perhaps you should do that now. Turn that $7.5M into $216M by 2054

 

Geez, I will be 98 in 2054. What am I gonna do with a $216M property at that age?

Give it to my grandchildren? Pi$$ Off!!!

 

Post results on propertychat. I will 'like' your post at that time.

 

I am bringing this one back...... hope it does not upset anyone, lets stick to the facts, is anything moving? Has anyone revalued their properties and taken the equity out of any deals in QLD?

Any updates to report

 

Hey MTR - Hope this adds to your conversation. Here's a bit I did on ABC radio last weekend.
Brisbane property prices: opportunity or threat?

 

I havent taken out any equity but I have re-evaluated some of my properties in Brisbane/Logan to lower than 80% LVR to get better interest rates.

I initially bought them at 90% LVR, got re-evaluated and now they are sitting around 80% LVR. So 10% increase within 12 months. CBRE and WBP property group did the valuations for the banks. AND I hate CBRE they undervalue ALWAYS on reval and over value on purchase. Scumbags.

So to answer your question yes Brisbane/Ipswich and Logan is moving. From my personal experience lately.

 

DC

do you have a transcript . Can't listen to it at work .....

Cliff

 

I haven't done any vals and pulled equity as such, but based on comps I would estimate I've experienced 12% growth in both Ferny Grove and Bracken Ridge over an 18 month period.

Deception Bay looks to be moving as well. In a bit over 2 years I have a comp that is showing 20% growth for one property and about 11% on another.

I've got 4 in Logan Region. Growth feels slower there to me. But others seem to have done better.

So, not booming but moving.