Strong Growth in Brisbane

Interesting figures on the chart!

Does anyone have year on year figures (possibly from residex?) rather than monthly. It would be interested to see if the year on year figures correlate to the totals in the above chart, which are based on monthly figures.

I would thought the monthly figures may based on too few sales?
Jimmy this is Residex data, the calendar year returns in this chart are based on their data, the total of the 12 months individual monthly results will be slightly different to this figure but not a lot (ie: 1% gain in Jan followed by 1% loss in Feb does not equal 0% growth)

Other than that you can have a look at the data for yourself if I don't understand your question properly
http://www.residex.com.au/indices?state=QLD&dwelling=H#indices
 
I would thought the monthly figures may based on too few sales?
I don't think so as it's basically the whole of the greater Brisbane area, plenty of data to do a very good job of that which I think Residex do, wonderful job in fact.

Amalgamating the whole of such a large area leads to other drawbacks such as you will have areas that might be flat and other that have fallen 10% or more, but everything is a compromise!
 
Thanks Andrew - quick response! Sorry I didn't realise the totals were year on year figures (rather than a total as the description indicates). Great data.
 
Spot on

This is what I see as best I can day to day dealing with real deals in an actual market, in this case Brisbane. Interesting it's Australia wide.

The new daily house price index launched by RP Data and Rismark in concert with the ASX affords some timely insights into the latest market dynamics. Based on the daily index values through to the March 27 (inclusive), we can arrive at several insights.

First, Australian home values stopped falling in 2012 and look to be treading water. During the first three months of the year, dwelling values across the eight biggest Australian cities are, on average, unchanged. Drilling down into more detail, home values declined during the seasonally tepid month of January, but have recovered these losses in February and March.
link

march271thumb.gif
 
I wonder if the change in State government will have an effect, might increase confidence or might put people into a 'wait and see what he does' sort of mode.

Be interesting to have a look at it 6+ months down the track
 
I wonder if the change in State government will have an effect, might increase confidence or might put people into a 'wait and see what he does' sort of mode.

Be interesting to have a look at it 6+ months down the track
It will be, I'm not going anywhere so will review in 6 months :)
 
Some observations.

1. Properties which are well priced under say 650k are moving quickly.

2. High end properties are slowly selling (1 million plus) but only after a price correction of 10 percent or more off initial asking price. A large proportion are withdrawn unsold.

I feel like the entire 1 million plus market is in an ongoing very slow motion car crash.

We are currently sitting on a gold coast property bought in 2007 for 560k which is currently worth maybe 460k and a Brisbane property bought in 2008 for 535k which is probably worth 480k now. So we are probably about 15 percent down on a 1.1m portfolio but overall up since 2003.

Incidentally the PPOR that we put an offer on in January at the valuation and the vendor countered at 40 percent higher went to a different agent and was then withdrawn.

Until our existing properties start recovering some value I am deeply skeptical of anyone telling me Brisbane has bottomed or is taking off. We are going to rent ourselves for a bit while we ferret around a bit more for a PPOR.
 
Chatting to an agent yesterday and they said 24 months and we should see growth again

My experience of chatting to agents is that they have no idea regarding macroeconomic conditions which drive the Australian economy. Try asking any REA about a Spanish sovereign debt default, the recent fall in global coal prices or US employment figures and you will just get a blank look.
 
My experience of chatting to agents is that they have no idea regarding macroeconomic conditions which drive the Australian economy. Try asking any REA about a Spanish sovereign debt default, the recent fall in global coal prices or US employment figures and you will just get a blank look.

I'd say most people would give you a blank look ;).
 
My experience of chatting to agents is that they have no idea regarding macroeconomic conditions which drive the Australian economy. Try asking any REA about a Spanish sovereign debt default, the recent fall in global coal prices or US employment figures and you will just get a blank look.
Not the best source if you are looking for this forecasting! What agents are excellent for is a reasonable survey of 'current' market conditions, if you talk with enough of them and ask the right questions you can get a good grip on what is happening in their patch of the woods, or.. you can talk to someone who does this already for a job (saves having to talk with lots of agents!)
 
Not the best source if you are looking for this forecasting! What agents are excellent for is a reasonable survey of 'current' market conditions, if you talk with enough of them and ask the right questions you can get a good grip on what is happening in their patch of the woods, or.. you can talk to someone who does this already for a job (saves having to talk with lots of agents!)

The information I got about the current market is don't sell or youll walk away at a loss, hum we already knew that!
 
Brisbane

Hiya
So I made an offer 25percent off asking price and got accepted:)
Flew up to Brisbane to do inspections and now has an offer to flip and make 25k :eek:

Very tempted.....
Interesting mkt Brisbane ATM some areas cheaper to buy than rent....
 
Back
Top