The latest Brisbane price data current till 31/8/2011
The Brisbane house median price is $432,500
The Brisbane unit median price is $352,500Since the peak in 2010 the Brisbane house median price has fallen 9.01% In regards to housing we are back at 2007 levels.
Wow, that's quite a drop. Do you (or your crystal ball) think they'll fall much further?
Thanks for sharing.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Personally i think it is bloody fantastic.
Seems to me like Brissie is becoming cheap again.
Sure Andrew will agree.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Qlds007 wrote:Personally i think it is bloody fantastic.Seems to me like Brissie is becoming cheap again.
Sure Andrew will agree.
Cheers
Yours in Finance
Funny you should mention this.. but.. just have to point out similar thinking
http://www.allenrealestate.com.au/?p=1191
No guarantees anywhere, just like most of life, bargains can become bigger bargains and so on. Just pointing out that people really do run out of the shop when prices are falling, and of course most are buying near the peaks.. and I'm sure will be again!
Jamie M wrote:Wow, that's quite a drop. Do you (or your crystal ball) think they'll fall much further?Thanks for sharing.
Cheers
Jamie
It's a really hard thing to say, plenty crave the confidence of knowing what will happen and meet a ready market providing that confidence for a modest transaction of their money.
If we base things off yield alone then the market is pretty interesting at the moment, for example we just bought two flats yielding 7% a few k from the CBD, potential to bump that up quite a bit with reno work, plenty of higher yields around at the moment as well.
Excellent market for value adding and upgrading presently, capital growth.. well that's anybody's guess pretty much like it always has been.
Andrew_A wrote:[Just pointing out that people really do run out of the shop when prices are falling, and of course most are buying near the peaks.. and I'm sure will be again!Humans……we're a funny bunch.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I'm looking to buy in Brisbane next year, hopefully within about 9 months.
If prices stay flat or fall a bit further, that will be great for me. However, I'm a little nervous they will shoot up in that time. From what others have been saying, they don't expect that to happen.
But if the anticipated rate cut happens on melbourne cup day, that might just be the straw that breaks and gets people buying again.
Brisbane is in the top 3 most affordable capital cities in Australia now.
Does anyone know, besides the river flooding, what is driving Brisbane's prices down? Is it simply an excess of stock…or is there some other reason why demand is soft?
That's interesting…do you have any information on Melbourne? My brother wants to get into the market. If I had the money and the guts, I'd be looking to Brisbane also, but for now I'd prefer not to go interstate.
lifestylez wrote:I'm looking to buy in Brisbane next year, hopefully within about 9 months.If prices stay flat or fall a bit further, that will be great for me. However, I'm a little nervous they will shoot up in that time. From what others have been saying, they don't expect that to happen.
But if the anticipated rate cut happens on melbourne cup day, that might just be the straw that breaks and gets people buying again.
Brisbane is in the top 3 most affordable capital cities in Australia now.
Does anyone know, besides the river flooding, what is driving Brisbane's prices down? Is it simply an excess of stock…or is there some other reason why demand is soft?
A couple points to consider:
Supply and demand- these are the forces by which prices are governed.Included in this is buyer confidence/sentiment, media, interest rates, global factors. Remember some countries are on the verge of going belly up with unemployment going through the roof. Australia has done extremely well to keep our heads above the surface. Unfortunately many of these external factors are out of our control but we are safe from a crash.
Perfect time to buy.
there was an interesting article in the Eureka Report prepared with input from Moodys. It was showing areas with greater mortgage stress & arrears.
It was also alluding to further drops in property prices.
Lifestylez, nobody can say with anything other than an educated guess when a bottom or top of a market is happening, usually you are being sold something or talking to someone who doesn't know any better if they think they can time a market with certainty, so there is by definition almost always a better time to be buying if you are trying to match the lowest point of a market.
It's hard to see the Brisbane property market moving quickly upwards in the time frame you mention but then again I couldn't believe what happened in Melbourne last year, or Brisbane in 2007 (+20%) for that matter. For those of us old enough the present market often brings back early 90's memories and that market went nowhere fast.
On a relative basis it's much easier to judge value and Brisbane rates highly in the capital cities at the moment. Those who follow a time tested investing plan and work progressively towards their investing goals are likely to do well.
Never ask a barber if you need a haircut though
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