I've bee reading the Peter Span book and I quote. "You want to buy in a suburb that has better than average median price growth over the last 10 years and is currently growing based on the two last years growth rate". Where does one find the median price growth figures for all the Brisbane suburbs for the last 10 years? I can find 5 year growth rates from REIQ (real estate institute of Queensland) and they include % change over the last 12 month period. But the growth rate figure is simply a % change over 5 years eg. Gordon Park 68% . But this dosen't tell weather the suburb is stagnent, growing or overheated i.e where it is in the cycle. Obviously I would like to buy in a suburb that is beginnig to grow. Can anyone help with sourcing these stats?
Johnl,
Can't advise as to where to find stats, but over 10 years so many things can change, I wouldn't go along and buy a house in the biggest gaining suburb over the last 10 years, that is not the way to make money.
I would suggest using your own knowledge of Brisbane , look at what's in store for the future not the past, I'm sure you know in the back of your head where to buy for future growth, just take a look around.
I don't live in Brisbane but have houses in the northern suburbs about 12 – 15km out and they have done very well, but further in has done much better, but these may also be the first to fall over the next year or so.As they say, just buy in good quality area, close to amenities like trains or education or shops or beach or river, just make sure there is some reason to buy in that area. If there is no reason to buy then prices will not rise.
Best of luck.
Peter Span… another spruikers
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