Brisbane heating up??

R

Robbo2621

I've been going to quite a few open homes lately, mainly properties priced around 500-550k Mark on the Southside, (coorparoo, camp hill, cannon hill, holland park etc).
These properties I have been through, have had alot of interest, easily 20-30 people walking through just in the few minutes I've been there.
Saw one advertised in Hawthorne on the Monday, very old house, needed complete renovation. It said offers mid 400's, which would have been a bargain imo. It had an open on the Wednesday night which I couldn't get to, but I looked at it again on the Thursday on the internet and it had changed to submit all offers.
Anyway went to the open on Saturday, there was easily another 50 people there, walked up to the agent he advised me the property was sold.
68 through on the Wednesday night, 17 written offers. I'm not sure what it ended up going for exactly but a different agent told me mid 500's.
I'm not sure what's happening in the higher price ranges as much, but this lower range seems abit similar to what I've been hearing has been happening down there in Sydney west.
 
Not just sydney west , we saw the same in the Lower northern beaches which is why stopped looking there and bought in Brisbane in recent months . At that stage central Brisbane was Warm , though not as bad as what you're talking about .we bought in manly wynnum and have just settled on the three we bought there . Also one OTP in teneriffe . Nice to hear that it's starting to go crazy ... Timing :)

Cliff
 
Have been looking for a PPOR in the southside and houses in the higher end are not moving much, mostly will sell at a discount to asking and takes a while to sell.

suburbs like macgregor and mansfield are on the move up due to local asian interest much like in sydney. Many houses being offered without even a prior inspection now. Mostly in the 450-550 price range.
 
Prices have been flat for so long in Brisbane/Ipswich I've forgotten what price growth/demand looks like up there... :D

I hope the demand mentioned by others in this Brisbane thread starts to filter towards Ipswich at some point .... Ours are cash flow positive, but it would still be nice to see some improved value soon ...:rolleyes:

Mystery
 
mystery said:
I hope the demand mentioned by others in this Brisbane thread starts to filter towards Ipswich at some point .... Ours are cash flow positive, but it would still be nice to see some improved value soon ...:rolleyes:

Mystery
Click to expand...

I hear ya...Ipswich has been good to me, but some CG would be great.

I'm hoping to pick up something within 10km of the Brissie CBD in the $400-450 range before the new year too.
 
I was looking to invest in Brisbane as I felt Melbourne was too hot.

I spoke to a BA who told me that most of the properties he deals with have been sold within a week with multiple offers.

Still a good time to buy up there? :confused: Or am I being too picky?
 
Re: Ipswich...

We purchased up in Ipswich late last year in our SMSF so it would be a fantastic to see some CG come into the market after the market has dipped over the previous 5 years or so.

Sure is a great time to be in property at the moment and makes all those sacrifices worthwhile. At least I'll get some credibility back with the wife after some nice CG.... :p
 
A house nearby just sold for $2.25M. They were hoping to get over the $2M mark and it was just fortunate that two people really wanted it. This time last year they were told they might get mid $1.5M(ish) but, of course, until it is actually marketed, that is just an educated guess, especially in a depressed market.

Three registered bidders, only two used their paddles. Clearly one was hoping to snaffle a bargain.

This time last year we tried to sell a house that was last appraised (pre GFC) at $1.1M or slightly better, and we couldn't get any offers at mid $900K. There are several local houses for sale or sold (or about to be listed) for around the $2M upwards and they seem to have a fair bit of interest.

The people who bought in our street were very interested in one that sold just recently for about $1.9M but said it needed close to $1M spent on it.
 
Last edited:
wylie said:
A house in my street just sold for $2.25M. They were hoping to get over the $2M mark and it was just fortunate that two people really wanted it. This time last year they were told they might get mid $1.5M(ish) but, of course, until it is actually marketed, that is just an educated guess, especially in a depressed market.

Three registered bidders, only two used their paddles. Clearly one was hoping to snaffle a bargain.

This time last year we tried to sell a house that was last appraised (pre GFC) at $1.1M or slightly better, and we couldn't get any offers at mid $900K. There are several local houses for sale or sold (or about to be listed) for around the $2M upwards and they seem to have a fair bit of interest.

The people who bought in our street were very interested in one that sold just recently for about $1.9M but said it needed close to $1M spent on it.
Click to expand...

Yep we've been watching this market closely as well.

We've experienced similar movement with a property on considerably less acreage on the same street being listed recently at $2M.
 
I think we are seeing many markets moving, Perth and Syd started to move at similar timeframe around 18 months - 2 years ago.

Melb, deve sites have started to move, I have not settled on a site and prices have started to rise.

Brissy definitely on the cards, its so affordable at the moment compared to other capital cities I mentioned, making it a very attractive option, all we need is the Gold Coast now, but I think we are a little way off with one.

Cheers
MTR
 
Robbo2621 said:
I've been going to quite a few open homes lately, mainly properties priced around 500-550k Mark on the Southside, (coorparoo, camp hill, cannon hill, holland park etc).
These properties I have been through, have had alot of interest, easily 20-30 people walking through just in the few minutes I've been there.
Saw one advertised in Hawthorne on the Monday, very old house, needed complete renovation. It said offers mid 400's, which would have been a bargain imo. It had an open on the Wednesday night which I couldn't get to, but I looked at it again on the Thursday on the internet and it had changed to submit all offers.
Anyway went to the open on Saturday, there was easily another 50 people there, walked up to the agent he advised me the property was sold.
68 through on the Wednesday night, 17 written offers. I'm not sure what it ended up going for exactly but a different agent told me mid 500's.
I'm not sure what's happening in the higher price ranges as much, but this lower range seems abit similar to what I've been hearing has been happening down there in Sydney west.
Click to expand...

inner suburbs ard not syd inner west yet- maybe early next yr.Are definately moving though
 
I wish I was in a position to buy 6 months ago, now I'm almost in a position to buy there's all this competition around. May have to scope some other areas of brissy
 
mystery said:
Prices have been flat for so long in Brisbane/Ipswich I've forgotten what price growth/demand looks like up there... :D

I hope the demand mentioned by others in this Brisbane thread starts to filter towards Ipswich at some point .... Ours are cash flow positive, but it would still be nice to see some improved value soon ...:rolleyes:

Mystery
Click to expand...

Hi Mystery

Good to see you here after a while.

Surprising that Ipswich has not done much, I have seen Logan move quite nicely over the last couple of years so am sure Ipswich will follow. I'm looking to buy in both areas and like the fact that the purchases will be cash neutral.

Amelia
 
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