Forum Replies Created
- Scott No Mates wrote:I'll restate, the price that the owner paid has very little bearing on what they will accept – it is more important to know what everything else around it is selling for as well as the metrics for the current sale eg time on market which will have more concurrence to the current negotiation.
I disagree. If you buy a property for $400 and list it at $450, and then someone offers $395, are you less likely to accept it than if its above your original purchase price? I think everyone knows the answer to that.
Guys, information is power. the more information you have, the more power you have. I'm currently buying an investment property and through RPdata know what the median and average price in the street is, I know what the neighbour bought for, I know they listed the property for in October this year and haven't sold since, and I know it was listed for rent in may last year. All of this is important information to me as a buyer and forms the foundation for my offer. In my opinion, all the information you can get is important.
I would imagine the principals of the checklist can be applied in most major cities around the country….
Eddy, Kedron's a cracking suburb!
At the moment it's a dustcloud, but in 2012+ will be one of the best serviced inner-city suburbs in Brisbane's north.
If you haven't already, get your head around these:
+ Airport Link
+ Inner northern bus-way
+ Draft Chermside Local Plan
+ Airport Link Control Centre (cnr Stafford & Gympie Rd)There's also excellent infrastructure already in the precinct:
+ Private Schools – St Anthony's (Primary), Padua College (Secondary, Boys), Mt Alvernia (Secondary, Girls)
+ Public Schools – Kedron SHS
+ Employment – SES HQ, Chermside commercial precinct, Westfield, easy access to airportIs the property an LMR zoning? If so, as Beedie suggests, your combined property would make for a very worthwhile venture.
Cheers
Tom, you are entirely correct in saying that there are indeed plenty of developers landbanking at the moment. But I think you're forgetting that there are a few obstacles in the way of new land lots coming onto the market, most notably:- the difficulty to source finance, slow approval processes and high infrastructure costs. The same obstacles apply to infill development, probably to a greater extent.
I recently saw a presentation from Dr Owen Donald, who chairs the National Housing Supply Council (an independent research body that advises government policy), who informed the audience that the deficit (i.e. undersupply) of 'affordable' housing is going to continue to increase over the next twenty years, even based on optimistic delivery expectations.
He states that as of June 2010, there is a gap (based on medium projections) of 202,000 dwellings with the worst shortages in NSW & QLD.
Housing still remains unaffordable for many low-income households, forcing many to rent, driving rents higher and subsequently worsening the problem. At present, NHSC estimates a gap of approximately 500,000 'affordable and available' rental properties.
The key source of this growth in demand is high net migration levels.
What does this mean? Well, as an investor/developer, my focus is on developing smaller, quality housing (townhouses predominantly) in affordable areas, well serviced by rail, schools and amenity, that targets both owner occupiers (sub <$500k) and investors (>5% gross rental yields).
If you look at the world like a pyramid, the sad reality is that only a select few sit at the top… there will always be demand at the base of the pyramid.
Don't hesitate to email me if you'd like a copy of the slides from the presentation – [email protected]
Cheers, Adam.
Hi Casie, I'm currently working on a the redevelopment of the CBD in Ipswich as well as having completed some subdivisions/townhouse projects in the western suburbs of brisbane/ipswich. Please feel free to add me to the email list [email protected].
Cheers
AdamHi mate, I work in development for a publicly listed company in Brisbane. Feel free to PM me if you'd like to chat further. cheers
