Good morning all. Does anyone know if there is a web site has the property clocks for capital cities updated regularly. Thinking to sell a property in Brissy, any opinion when the market will turn good for sellers.
Property Clock & sell Brissy IP
- Thread starter on the move
- Start date
I can't help with a link, however I encourage you to do enough of your own research to make that decision empirically, not because someone elses opinion put it on a clock face.
In a general sense, Brisbane is very slow now, however there are likely exceptions. Markets within markets and supply/demand issues. I am no expert on Brisbane, so other's may contribute. Steve McKnight considers that Brisbane will (in a general sense) be slow well into 2011.
Sounds reasonable to me, so if you don't have to sell, I would wait as long as the servicibility is comfortable. Too much on the market with too few buyers does not augur well for being a vendor right now.
The Gold Coast market is even more depressed. Specials everywhere. Too much stock and few buyers on the ground. Some vendors genuine and some are off with the "high expectation" fairies.
The Gold Coast market is even more depressed. Specials everywhere. Too much stock and few buyers on the ground. Some vendors genuine and some are off with the "high expectation" fairies.
Can vouch for that. One of my IP's was revalued approx 2 years ago and I think realistically its value hasn't moved since. Although rents seem to continue to increase in that time pretty consistently at least in my sample of 1
Well done Marg.
Be grateful you sold then and weren't a seller (forced or otherwise) now, prices have moved since that time..............south
Things seem to be very slow and houses are sitting, sitting, sitting.....
We have listed an IP and if we don't get a good price, we will take it off and relist it in several months. In fact, the only reason we have listed now is that the developers are out sniffing and we might get a buyer, or a buyer looking for a big block. We are lucky that we don't have to sell right now, but it suits our plan to give it a try.
I am very glad that I am not in a position where we are needing to sell now.
We have listed an IP and if we don't get a good price, we will take it off and relist it in several months. In fact, the only reason we have listed now is that the developers are out sniffing and we might get a buyer, or a buyer looking for a big block. We are lucky that we don't have to sell right now, but it suits our plan to give it a try.
I am very glad that I am not in a position where we are needing to sell now.
You could try Herron Todd White website. They do a monthly review:
http://www.htw.com.au/Month_in_Review/November-2010-Month-In-Review.pdf
Will find market indicators around page 44 for Brisbane.
Cheers,
Fourex.
http://www.htw.com.au/Month_in_Review/November-2010-Month-In-Review.pdf
Will find market indicators around page 44 for Brisbane.
Cheers,
Fourex.
Unfortunately i do not have a clock to offer you, but based on my research and having recently purchased in Bris, it is definitely a very flat market which doesn't look like it's moved much in the last 3 years (there will of course always be exceptions to this in particular areas).
Probably not the best market to be selling into unless you have to. Reasonable buying opportunities however
Probably not the best market to be selling into unless you have to. Reasonable buying opportunities however
Fourex, I find your HTW link most useful.
thank you all, seems the market is flat everywhere.
thank you all, seems the market is flat everywhere.
Last edited:
My Brisbane clock is saying it's Buy O'Clock right now.
Bought a site for future development last month and another this month.
Don't listen to me though, I'm a gambler and take risks for reward.
Bought a site for future development last month and another this month.
Don't listen to me though, I'm a gambler and take risks for reward.
i think ibrisvegas is a good place to buy now, lots of stock, few buyers and good chance of capital growth period starting later half of 2011.
in terms of selling can u wait until sep/oct next year?
I have overcommitted myself a bit (silly me) although I have enough buffer to last few years. But isn't interest rate supposed to go up all of 2011 ?
maybe but that does not mean prices can't increase. look at the price rises in 2007 when rates were on the increase
market has been flat a long time, resource states of qld and wa likely to be the big movers in the next 1-3 years.
rates go up because the economy is strong, low unemployment etc, all good conditions for a price rise especially after a long period of flatness. Think Gold Coast and Sunshine Coast have a fair but of pain left and Brissy will be the first to start moving.
good luck with whatever u decide
Agree that the clock definitely reads "buy". We tried selling our property a couple of months ago with no luck, not even close, only gave it 2 months and took it off. Could probably have received more for it 2 or 3 years ago, and have since renovated in that time.
Time is on our side though so we are holding, holding, holding. The rental demand in our area, between Brisbane & the Gold Coast, is very strong. To the rental market it goes.
Time is on our side though so we are holding, holding, holding. The rental demand in our area, between Brisbane & the Gold Coast, is very strong. To the rental market it goes.
Is it in Logan ? I have pest inspections done on 3 houses all found termite in or nearby, made me bought somewhere else.
Just posted the below in another thread - sorry to sound pessimistic but things are not looking up here at all...and as a part time agent I am generally optimistic!!
Saying that - at the risk of sounding like I am hunting for listings, I am most certainly not, too busy right now with other things...if you want an independent price opinion PM me and i'll have a quick look for you.
cheers
UC
-----------------------
I just had lunch with a good friend of mine who is a licenced valuer and a licenced real estate agent - and very good at both so I value her opinion.
In short, Brisbane is in for a whole world of hurt with some suburbs (Bardon and Kenmore were mentioned) experiencing a massive downturn - two particular properties mentioned had a drop of around 35-40% from valuation to sale price. Now yes there are always potentially mitigating circumstances that we are unaware of, but it is concerning from a pure real estate perspective.
As most long term readers here would know, I am generally quite bullish on the market regardless of prevailing conditions - and I certainly don't go making wild observations and commentary - my surname doesn't start with K and end in N with two vowels in between, but for the first time in a long time I think we are seeing the start of some trouble for the sunshine state.
my colleague is of the opinion (and I am less pessimistic, but agree with her observations generally) that we will see conditions similar to the early 90's where prices dropped significantly over the course of a year or two then remain stagnant for 6-8years. Between the interest rates, prevailing economic conditions, an oversupply myth and the migration population starting to prefer renting over purchasing, she has a point!!
I sincerely hope she is wrong, but then again - if prices do plummet and stay low it may make for some good buying!!
Be interesting to check these comments in 12 months and see if she was correct!!
cheers
UC
Saying that - at the risk of sounding like I am hunting for listings, I am most certainly not, too busy right now with other things...if you want an independent price opinion PM me and i'll have a quick look for you.
cheers
UC
-----------------------
I just had lunch with a good friend of mine who is a licenced valuer and a licenced real estate agent - and very good at both so I value her opinion.
In short, Brisbane is in for a whole world of hurt with some suburbs (Bardon and Kenmore were mentioned) experiencing a massive downturn - two particular properties mentioned had a drop of around 35-40% from valuation to sale price. Now yes there are always potentially mitigating circumstances that we are unaware of, but it is concerning from a pure real estate perspective.
As most long term readers here would know, I am generally quite bullish on the market regardless of prevailing conditions - and I certainly don't go making wild observations and commentary - my surname doesn't start with K and end in N with two vowels in between, but for the first time in a long time I think we are seeing the start of some trouble for the sunshine state.
my colleague is of the opinion (and I am less pessimistic, but agree with her observations generally) that we will see conditions similar to the early 90's where prices dropped significantly over the course of a year or two then remain stagnant for 6-8years. Between the interest rates, prevailing economic conditions, an oversupply myth and the migration population starting to prefer renting over purchasing, she has a point!!
I sincerely hope she is wrong, but then again - if prices do plummet and stay low it may make for some good buying!!
Be interesting to check these comments in 12 months and see if she was correct!!
cheers
UC
Stuck in limbo
Brisbane a little "stuck"
http://www.brisbanetimes.com.au/bus...ding-back-brisbane-market-20101112-17qxa.html
Brisbane a little "stuck"
http://www.brisbanetimes.com.au/bus...ding-back-brisbane-market-20101112-17qxa.html