hi!
i was wondering if anyone had any information/thoughts on property trends in brisbane?
i was wanting to purchase in mackay but it may be awhile before property is the price i want to pay there.
so is there any suburbs in particular that are worth keeping an eye on? is the current market alright there? id like to find a fairly cheap house that wouldnt need too many renos as I live so far away. Just something I can purchase and plonk a tenant in
thanks in advance!
Brissie is an interesting City and as far as activity is concerned would have to say it is busier now than it was a year ago.
I personally have picked up some bargains over the last 3 months and have clients also buying multiple properties.
Guess it depends on which suburb you are looking at and your price range.
Richard Taylor | Australia's leading private lender
G,day Karen
This is my first post to this forum and would like to let it be known that I am not a property expert but rather have gained some general knowledge about property investment through research on the internet, books and investment magazines. All the information I have read indicates that before the economic crisis Brisbane was forecast to have steady returns of 10 to 12% growth per year. Brisbane has a severe shortage of houses relative to demand and this will continue into the foreseeable future. There are numerous infastructure projects underway and Brisbane and the city has a healthy population growth all positives signs for purchasing an investment property. My friend who moved from Mackay to Brisbane about 10 years ago has just bought his fifth investment property he opts for the more affordable suburbs purcasing two houses in Zillmere one in goodna and two in ipswich ( just purchased a 3 bedroom gable style queenslander house fully renovated for 355000) and assures me he has no problem finding tenants and has received good capital gains – had a few problems with a tenant in the Goodna house.
Dont discard Mackay though house prices have virtually been stagnant here for the last three years ( this is my home town). Bought an investment property here in July last year it had been on the market for roughly 2 years. initial asking price was $370000 ended up buying the house for $330000. A two bedroom house with a detached two bedroom granny flat out the back – combined rent of $570 a week. Mackay was set for a mini boom before the economic problems so the papers said, so it is likely this delay will strengthen the next boom when it eventually comes.
Cheers
G,day Karen
This is my first post to this forum and would like to let it be known that I am not a property expert but rather have gained some general knowledge about property investment through research on the internet, books and investment magazines. All the information I have read indicates that before the economic crisis Brisbane was forecast to have steady returns of 10 to 12% growth per year. Brisbane has a severe shortage of houses relative to demand and this will continue into the foreseeable future. There are numerous infastructure projects underway and Brisbane and the city has a healthy population growth all positives signs for purchasing an investment property. My friend who moved from Mackay to Brisbane about 10 years ago has just bought his fifth investment property he opts for the more affordable suburbs purcasing two houses in Zillmere one in goodna and two in ipswich ( just purchased a 3 bedroom gable style queenslander house fully renovated for 355000) and assures me he has no problem finding tenants and has received good capital gains – had a few problems with a tenant in the Goodna house.
Dont discard Mackay though house prices have virtually been stagnant here for the last three years ( this is my home town). Bought an investment property here in July last year it had been on the market for roughly 2 years. initial asking price was $370000 ended up buying the house for $330000. A two bedroom house with a detached two bedroom granny flat out the back – combined rent of $570 a week. Mackay was set for a mini boom before the economic problems so the papers said, so it is likely this delay will strengthen the next boom when it eventually comes.
Cheers
thanks for your comments
i am still looking every day at properties – havent made up my mind where to purchase tho. its so difficult sometimes!! i appreciate your comments and opinions.Qlds007 wrote:Brissie is an interesting City and as far as activity is concerned would have to say it is busier now than it was a year ago.I personally have picked up some bargains over the last 3 months and have clients also buying multiple properties.
Guess it depends on which suburb you are looking at and your price range.
Which suburbs?
Most of my properties in the west which is where i am. Indooroopilly,
Toowong and Taringa are suburbs i own a few properties in.
Richard Taylor | Australia's leading private lender
Thanks Qlds, yer I agree, nice areas.
Does anyone think Bris is at the top of the cycle or is still going up?
mill s wrote:Does anyone think Bris is at the top of the cycle or is still going up?
Top of the cycle? Where have you been for the last 18 months? There is a price correction going on throughout the rest of the world. Has Brisbane missed out or has daylight saving got something to do with it?
I'm looking to purchase at Parkinson. Agent told me prices haven't gone down. Was telling me they've gone from having 100's of listings in suburba a year ago to about 20. I'm looking in the $500 –700k range. Lifestyle choice rather than investment. Renting is looking good.
if you go to the site http://www.domain.com.au you will see that they have just put on a investment section and you can check each suburb out with all the stats you could hope for and it tells you how the suburb has been performing over the last 3 years etc. it is branded as new but helps heaps with finding out where to invest.
http://www.investsmart.com.au/property/default.asp?s_cid=domain
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