QLD Why I bought in Goodna - See Change

Discussion in 'Where to Buy' started by See Change, 20th Feb, 2016.

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  1. See Change

    See Change Well-Known Member

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    Just got our land valuations increases in for our goodna / Ipswich properties

    10-15 % increase

    Cliff
     
  2. dave80

    dave80 Well-Known Member

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    was pleased with mine - 20% increase - although outside of ICC bumping rates up, what benefit is this in real terms?

    i'm assuming actual valuations have always been at this higher level, it's just the dept natural resources catching up?
     
  3. MTR

    MTR Well-Known Member

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    that's good, though what really matters in the real world is comparable sales of same product? is this happening? seeing 20% up from purchase
     
  4. Luca

    Luca Well-Known Member

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    Land increase is not going to affect the price. Land price has been the same since the floods. It was necessary and now that the sentiment is good the councils pulled the trigger as they need more money. The growth will be steady up to the next flood :)
     
  5. MTR

    MTR Well-Known Member

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    so no increases in end values yet?
     
  6. Luca

    Luca Well-Known Member

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    I personally didn`t notice it...
     
  7. See Change

    See Change Well-Known Member

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    Progress so far

    Goodna has now moved up above Logan in terms on median price in the last year with a growth rate of 9.5 % which matches the change in land valuation

    The central logan suburbs had growth rates of around 3-4 %

    Goodna has now moved above its previous peak and at a median of 314 is above the central Logan suburbs which are just under 310 .

    Logan is offering a slightly better return with median rent being 320 - 330 as opposed to 310 in goodna .

    All tracking well .

    At this stage prices moving up slowly .

    Reports of stronger price rises centrally . Hobart is attracting lots of attention and places moving very quickly there and seems to be on the border of going into boom territory so people haven't given up on property investing .

    I don't expect to see a boom in goodna any time soon , just hopefully further steady growth .

    As more and more people give up on Sydney and ( to a lesser extent on Melbourne ) the market will focus more and more on Brisbane , Adelaide and Tasmania .


    Cliff
     
  8. Luca

    Luca Well-Known Member

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    Hi @See Change

    What website do you check for these data?
    I always find a bit of confusion among them.
    For example Goodna:

    Domain 2016 Median 305k Domain 2017 Median 323k
    RE 2016 Median 308k (2017 not available)
    SQM: used to have tables but now only graph so cannot read it anymore
     
  9. See Change

    See Change Well-Known Member

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    Realestate.com

    Cliff
     
  10. MTR

    MTR Well-Known Member

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    I would only look at previous sales to determine if in fact this market is moving?

    Unfortunately stats wont give an accurate account.

    Otherwise those interested in this area should be phoning lots of re agents, people on the ground to find out whether infact it is moving and its easy to find out, multiple offers, shorter time frame on market, who is buying? what are they buying ?how long is it taking for houses to sell? I don't know, but pointing out the obvious don't rely on rubbery stats.

    Just a quick look, I expect the properties that have a twist will be more sort after, larger land component, properties which can be turned into dual income properties??
     
  11. Chris Au

    Chris Au Well-Known Member

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  12. Luca

    Luca Well-Known Member

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  13. sash

    sash Well-Known Member

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    Agree that Outer Meloburne, Hobart, Brissie, and Adelaide are moving well...

    As for Goodna....Good?...Nah.......

    As for Logan...the better parts are doing well just like Moreton Bay better parts.


     
  14. D.T.

    D.T. Specialist Property Manager Business Member

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    Given see change is one of the best investors on somersoft and property chat, I'm sure he sees the signs and has actually been on the ground to confirm.
     
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  15. Chris Au

    Chris Au Well-Known Member

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    I think they limit the amount of data on free sites or through other providers (eg YIP). The paid services would go much further back and in more detail. If you wanted to rely on free data, you would need to build your own spreadsheet/graphs to track whatever trend you're wanting to follow.
     
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  16. Chris Au

    Chris Au Well-Known Member

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    Yep, @See Change has talked (a little) about the background research he does and some signs he sees that might trigger further investigation across many threads. Words of wisdom.
     
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  17. MTR

    MTR Well-Known Member

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    Please lets not make it about the person, no one is bagging Seech and its not a competition.

    Asking valid questions to support claims why a specific area/suburb/State is rising is very reasonable and giving opinions on what research should/could be conducted is stock standard stuff I would think. This way we all learn.

    MTR:)
     
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  18. See Change

    See Change Well-Known Member

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    Read the first post and you can see my reasons for why I bought in goodna and at this stage , given my reasons ( ie , underperforming Logan) in the short term I've been correct .

    My personal preference is not to buy places with a twist . You usually have to pay more for them so your return is less , so your holding costs are more so you can buy less .

    When the markets booming , the people who pay over the top are more likely to be investors or oo's rather than developers .

    I'm not interested in developing any more , and the thought of doing a development long distance has no appeal to me at this stage .

    We've done two subdivisions on sydneys north shore , but the profits on those made the work worth while .

    My observation is that at the moment , the stats are representing what is happening in the ground .

    Cliff
     
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  19. MTR

    MTR Well-Known Member

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    So trending north? be interesting to see what happens over the next 6 months.

    All to their own.
    With regards to development sites what I have found from my experience is when the markets do start to rise, hot up you don't need to develop the land and they become sort after by developers, therefore you can make larger gains if you sell. On the flip side costs more to hold though.
     
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  20. sash

    sash Well-Known Member

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    From where I sit the performance of Goodna is mirroring lower socio Logan.