Strong Growth in Brisbane

Thanks for the info UC, I've been watching inner west, Chapel Hill, Graceville, Taringa, etc and Ashgrove/Bardon areas for a few years now. I had a good handle on price until this year, with very little selling its difficult to work out what prices are doing, for me. There are a few selling very quickly (either very cheap places or houses in high demand areas, like high side Graceville), and others who added another 20% on from last year, and had to drop it back a bit to sell, but probably only 10% of the houses I'm looking at are selling. A few alright ones in Graceville that would have sold easily for current asking price last year have been sitting for months. I've tried low-balling a couple (particularly empty ex-rentals), but the vendors aren't budging.

Listings seems to have slowed down now, so it will be interesting to see what happens in spring as vendors start to put more on the market.

Also noticing a pickup in rentals in these areas, seems a few who can't sell are renting out. My rental search used to give me 40 results consistently, now gone up to 60. There's a unit in my complex sitting empty for the first time since I've been renting here.

All anecdotal, but that;s what I'm seeing ATM.
 
Interesting you say that Boomtown ...... 99% of brisbane locals have absolutely no clue that the suburb even exists. I like it that way. Its full of $1mil homes now.:D

I didnt realise they had 1 million dollar homes in there already.... Arf that was quick.

Morningside on the "wrong" side of Wynnum road - ie close to the train station is still cheap but not for long....
 
Thanks Michael,
I also expect steady if not explosive growth in redcliffe. It just ticked all my boxes:

Good rental yield
Close to beach
Lifestyle suburb (or it is on the way to become one)
Accessible to a capital city (30-40 min drive? not that much)
New Infrastructure projects / Money being pumped in
(If the Govt announces plans of a new train line, and it will surely, just a matter of time, the prices will really rock)

I also think Beenleigh is a very good buy at these prices especially because of its strategic position between Brisbane and Gold Coast.

Cheers

Hi Roopam, Andrew,

I have property in both Redcliffe and Beenleigh and expect to get great growth, from these areas. Back to the theme of this thread or Andrew will get angry with me...:)

Prices seem to have stagnated in Scarborough - Redcliffe. Personally I think Woody Point has been over-priced and we may see more of a correction there . . . but I don't see any real evidence of a drop in prices, just in buyers.

Regards Jo
 
Roopam

See you like the Beenleigh area.

What's your thoughts on Eagleby or Waterford. Looked at a townhouse in Eagleby in a yet to be built complex- looks a very low socio- economic suburb.

Did like some of the properties in the waterford area- particularly the new areas near Canterbury College

Interested in your thoughts!!

Destrier

My sister lives in Beenleigh and her thoughts are that Eagleby is lower socio-economic than Waterford.
 
Seven Hills is a place I would never have considered buying years ago because of the housing commission areas, but changes are happening, and people are realising they can get great city views from the ridges, so it has to increase in value.

The same thing with the "jewel" streets in Coorparoo. Housing commission area but the prices are rising as people realise how close it is to the city and slowly the houses are being renovated and improved.

Even Cannon Hill prices are through the roof compared to when my parents bought there 40 years ago. The bank would not lend for Cannon Hill as it was "working class". They put Morningside on the documents to get the loan through.
 
Carina is also full of housing commission, but the house we bought there for $123K nearly ten years ago rented for $190 per week, so it was a great buy. We sold it several years later to repay some debt but I wish we could have kept it. It is another suburb that is slowly turning the corner with money being spent. I think that house would probably be worth mid $300K or more now, but not sure as I don't keep an eye on the Carina market much, except to be surprised at how high the prices have risen to.

Something I remember quite clearly is that my hubby's sister lives at Middle Park in a nice three bedroom two bathroom place and about 20 years ago, it was worth more than our place at Balmoral. Years later, the Balmoral place would be worth possibly three times what the Middle Park place is worth. It find it interesting to watch suburbs ebb and flow like that. If only we had a crystal ball.
 
Ill tell you what Im interested in - the farm land on old Cleveland Rd East that backs onto the Birkdale golf course. Its the middle of suburbia and theres a lady with goats on like 100+ hectares.... What the heck is the story with that. Apparently its owned by Air Services but dunno what they use it for.

Immediately north of Jones Rd and Old Cleveland Rd East on google maps.
 
boomtown

I'm very familiar with the land you are speaking about - we live at Birkdale (on the northern side of "Royal Birkdale Golf Course" :p ) and I drive past it every day. It is owned by the Federal Government and is 'home' to a number of high-frequency antennae which are used for communications with aircraft, amongst other things (hubby calls it 'the antenna farm'). It has been like that for ages - as has the 'old dear' with her goats - and unlikely to be sold in the foreseeable future.

Cheers
LynnH
 
It has been like that for ages - as has the 'old dear' with her goats - and unlikely to be sold in the foreseeable future.

Oh for sure. But it would be worth squillions. A nice quiet chat with the CFO of Air Services Australia wouldnt go astray. If I was in the market for that sort of thing I would be getting on the telephone and suggesting that while the markets have been bad this year wouldnt it be a nice surprise to give the balance sheet a bit of a lift?

The reality is that its light years out of my league for now. I would like to be able to play in that sort of sand pit maybe 20 years from now though.
 
Thanks Jo,

I too tink that Woody Point has inflated prices. But I reckon Kippa-Ring house prices will increase significantly in 2-3 years becuase any rail link to the peninsula will be to Kippa-Ring, chances of extending it to Redcliffe look remote to me.
 
Hi Dextrier, Invstor,

Can't say much about the other suburbs but I guess all suburbs surrounding Beenleigh and close to the Gold Coast highway should benefit.

Sorry Andrew, couldn't think of anywhere else to reply. I think we should start another thread on this.

Roopam
 
I think that prices have fallen back about 5% in the last 1/4 in Ferny Hills area where I have my investment. Again though my rent has gone up by $20 a week so im not complaining.:)
 
Thanks Jo,

I too tink that Woody Point has inflated prices. But I reckon Kippa-Ring house prices will increase significantly in 2-3 years becuase any rail link to the peninsula will be to Kippa-Ring, chances of extending it to Redcliffe look remote to me.

Hey Roopam,

Any rail link to the Peninsula is still a decade or 2 away, if at all. It's been fought for for 30 years now and still no funding has been allocated.

Therefore no effect on the Redcliffe region, including Kippa Ring, will occur for many years yet based on a rail line. Simply won't happen.

The new bridge however, now that's another thing. Nothing wrong with Woody Pt either. Property prices in my opinion are undervalue on the Redcliffe Peninsula in comparison to Sandgate and Brighton just the other side of the Houghton Highway. Same property will sell for 100k+ or more just by being those 3km over the water.

Considering the facilities, development and proximaty to water (it's like an island) it is still a sleeping market. Some of clontarf needs a bomb under it and be redeveloped but that'll happen. The next canal stage will bring further money to the local economy. For anyone wanting to live on the northside and not live as far away as Bribie, there is no other place to live with canalfront property.

Redcliffe is a terrific community and my prediction is for still good growth in the long term. In years gone by Redcliffe has been primarily an elderly retirement zone, however this is fast changing and with it is coming more jobs and more money.

At Go Gecko we have seen a change in the market but not necessarily any major slowdowns. Our sales are still strong and properly marketed homes are still generating strong enquiry. With our capped commission of $5950 for homeowners we always expected a changing market would have a less effect for our business model.

Happy investing :D

Kev
www.gogecko.com.au
 
Interesting you say that Boomtown ...... 99% of brisbane locals have absolutely no clue that the suburb even exists. I like it that way. Its full of $1mil homes now.:D

I went to Seven Hills once - I thought it was a dump to be honest. Guess it isn't too far out of town which is a plus. Anybody who pays $1mil to live there has a VERY long term view or is insane - you could get a much nicer area for that sort of money.
 
Interesting point of view YM. How long ago did you "go to Seven Hills"

Did you have a look at all of it? Or did you drive through one street and make your call?

$1m for uninterrupted city views, 4.5km from the CBD is pretty comparable to "suburbs next door" including Norman Park, Hawthorne, Balmoral etc.

Sure its not as polished as a Bulimba etc but thats why it has really good investment potential... and this what we are all about yeh ?:)
 
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