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Topic: Rental Prices in Queensland
anonymousxvi
Posts: 22
Location: Brisbane, Queensland
Hey there are any of you finding that rental prices have become ridiculous in qld?

Im living somewhere where the rent use to be $110 back in 2011 and is now $200 in 2017
system
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Eorl
AusGamers Editor
Posts: 14884
Location: Brisbane, Queensland

Haha, $200. Cute. I'm paying $380 in Ashgrove, before here it was $420 and before then it was $240. Prices fluctuate dependent on suburb growth.
Raven
Posts: 9517
Location: Melbourne, Victoria
It's cute watching Queenslanders complain about rental prices.
infi
Posts: 23790
Location: Brisbane, Queensland

I have just bought a couple mil of investment houses in the burbs and yields are strong at the moment. I just don't touch units. Unit rents are softer currently.
sLaps_Forehead
Posts: 7734
Location: Brisbane, Queensland
Yep its only going to get worse ... well done straya!
notgreazy
Posts: 830
Location: Other International

I was paying 15 gigalops for a 4 dimensional subspace, it used to be 13 leptasperms but then again I used to live in 2D scrapespace.

Without a point of reference, your numbers don't mean much folks. Suburb, type of dwelling, # of rooms are important.

350 in sunny coast for 2 bedroom townhouse. That's expensive I know but it's close to uni and it's good for now.
Twisted
Posts: 12268
Location: Brisbane, Queensland

$200...I don't rent but the houses around here rent out for between $500/w-$650/w.
hardware
Posts: 11685
Location: Brisbane, Queensland
lol, rent is for uni kids, bogans, and people who wouldn't understand budgeting and frugality if it punched them in the face


enjoying being a houso
Tanaka Khan
Posts: 5813
Location: Brisbane, Queensland

Let me guess anonymousxvi, renting is wrong and evil as well as sex, drugs, drinking alcohol, and internet piracy?
anonymousxvi
Posts: 23
Location: Brisbane, Queensland
Have reviewed prices today and they have come down, very happy :D
Twisted
Posts: 12269
Location: Brisbane, Queensland

lol, rent is for uni kids, bogans, and people who wouldn't understand budgeting and frugality if it punched them in the face
Well that is a pretty ignorant and short sighted view of investing.

Renting does not = financial incompetence
Buying does not = financial acumen

Plenty of bogans buy houses, its about the only thing they have the mental aptitude for and they still f*** it up half the time. In the long run you are better off investing in things other than property if you want to make money. Unless you're an actual developer, then you'll have all sorts of dumb c***s throw money just to say they own a property of some description.
Herron
Posts: 371
Location: Brisbane, Queensland

$410 for a 3 bed large townhouse in Mitchelton. My frugality, hardware, means I also own a house up the road in Gaythorne.
taggs
Posts: 6523
Location:

Lol move to Syd.

Also lol at hardware being a f***tard again.
trog
AGN Admin
Posts: 39247
Location: Other International

Wat? Everything I read about Qld rental prices (for units anyway) show they're going down massively
I have just bought a couple mil of investment houses in the burbs and yields are strong at the moment. I just don't touch units. Unit rents are softer currently.
Almost certainly for the best given what I've been reading lately about unit prices in BNE. I'm hoping to pick up a bargain when I move back!
sLaps_Forehead
Posts: 7738
Location: Brisbane, Queensland
Yep, free standing house prices are "through the roof" and will only get worse.

However, there has been a massive over-supply of units in Brisbane as our Chinese friends only seem to be interested in investing/laundering their mainland currency into Sydney and Melbourne houses and apartments.

I suspect the only way for house prices to slow down on the east coast is when the Chinese are restricted in buying here (see Canada) or find a better place to buy property.

Tollaz0r!
Posts: 18471
Location: Brisbane, Queensland

I'm paying $380 in Ashgrove,


Oh that's close to what I'm paying for my mortgage.
infi
Posts: 23793
Location: Brisbane, Queensland

Ashgrove is a million dollar suburb though so that sounds cheap.
Twisted
Posts: 12270
Location: Brisbane, Queensland

Oh that's close to what I'm paying for my mortgage.
Excluding interest I assume?
Tollaz0r!
Posts: 18472
Location: Brisbane, Queensland
Including.

I think you mean including principal, and yes.

last edited by Tollaz0r! at 16:00:40 15/Oct/17
trog
AGN Admin
Posts: 39250
Location: Other International

Wait so you're paying $380pw grand total for your mortgage? That seems super cheap, but I guess that's probably about right for the interest rates.
Scooter
Posts: 6607
Location: Brisbane, Queensland

That's about a ~$400k house (Mortagage -20% deposit) which could buy you something ok... ish.

That's also not taking into account Rates, Water, Sinking Fund, Insurance, Etc etc.
Spook
Posts: 40823
Location: Brisbane, Queensland
yup, if you want, home repayments can be way cheap atm with interest rates how they are.
paveway
Posts: 21378
Location: Brisbane, Queensland
To be fair toll loves in the rabbit warren that is north lakes, he isn't near the city
hardware
Posts: 11687
Location: Brisbane, Queensland
Yeah i'm also in the sub-$400pw P&I for my home loan
and that's for a 4brm 2bath highset in the middle north (<15k to CBD)
Spook
Posts: 40824
Location: Brisbane, Queensland
cant get that now.

due to a horrible horrible work situation ive had a look at northside property.

the prices people are asking are dreaming to live in the s***heap that is the northside. lolz, you guys sure love your traffic lights and not going anywhere on the roads.
sLaps_Forehead
Posts: 7742
Location: Brisbane, Queensland
yeah the roads are s*** over here, I will give you that
Tollaz0r!
Posts: 18473
Location: Brisbane, Queensland

That's about a ~$400k house (Mortagage -20% deposit) which could buy you something ok... ish.


$330,000 house, on 730 sq meter land. 45 mins to beach, mountains, Bris CBD. 5 min walk to woolies and train station. Has costco, ikea, cinema's, major shopping center only 5-10 min drive away.

People are crazy buying $450,000++ houses ... just to be a little closer to the CBD and a lot further away from things outside the CBD.


To be fair toll loves in the rabbit warren that is north lakes, he isn't near the city


I'm not in North Lakes, that suburb is for suckers that want little blocks of land with nothing more than a house on it and spitting distance to neighbors. An area that has 3-4 cars per household with houses that can only fit 1-2 cars..
Ahhaha, North Lakes is for chumps.

Spook, motorcycle makes traffic a breeze.

notgreazy
Posts: 831
Location: Other International

That's also not taking into account Rates, Water, Sinking Fund, Insurance, Etc etc.

So much this. Stating mortgage per week as if it's the true cost of owning a home is disingenuous.

Calculating the true cost of a property is not easy but it costs more than simply renting. Also factoring in the cost of opportunity.
lol, rent is for uni kids, bogans, and people who wouldn't understand budgeting and frugality if it punched them in the face
enjoying being a houso

:( It's not that simple.

P.S f***you
paveway
Posts: 21379
Location: Brisbane, Queensland

I'm not in North Lakes, that suburb is for suckers that want little blocks of land with nothing more than a house on it and spitting distance to neighbors. An area that has 3-4 cars per household with houses that can only fit 1-2 cars..
Ahhaha, North Lakes is for chumps.


fairly certain at least in the past you said you were at north lakes, did you move recently?

given this:

$330,000 house, on 730 sq meter land. 45 mins to beach, mountains, Bris CBD. 5 min walk to woolies and train station. Has costco, ikea, cinema's, major shopping center only 5-10 min drive away.

People are crazy buying $450,000++ houses ... just to be a little closer to the CBD and a lot further away from things outside the CBD.


you're obviously still in that region.
Spook
Posts: 40825
Location: Brisbane, Queensland

Toll, i need to be fit and alive so motorbike not an option.
hardware
Posts: 11688
Location: Brisbane, Queensland
$330,000 house, on 730 sq meter land. 45 mins to beach, mountains, Bris CBD. 5 min walk to woolies and train station. Has costco, ikea, cinema's, major shopping center only 5-10 min drive away. 

People are crazy buying $450,000++ houses ... just to be a little closer to the CBD and a lot further away from things outside the CBD.

I did exactly this.
I had a house in the same suburb as toll (not North lakes, but an adjoining suburb) on ~700sqm for ~$330k.
I sold it and bought in a suburb that is exactly half as far away from the CBD (where, being in IT, I often work) for $450k. Still on ~700sqm, but also my home is now a ~220sqm highset instead of a ~110sqm lowest.

I have significantly benefited from the move. I have access to better quality schools for my children, and the train ride to work is now ~20 minutes not ~45, each way each day.

Further to this, my house is now worth almost $100k more than I bought it for, judging by recent sales prices, whereas my old house would perhaps be worth $45k more.

Also bonus, a more friendly neighbourhood as detailed in the other thread.

Crazy? Crazy not to.
trog
AGN Admin
Posts: 39252
Location: Other International

Further to this, my house is now worth almost $100k more than I bought it for, judging by recent sales prices, whereas my old house would perhaps be worth $45k more.
I'm wondering if the spreading falling prices in units might also infect houses at some point. If I was a first-time homebuyer (I am!) I'd be strongly looking at units now because they're so cheap. Which should take some pressure of houses.

The most interesting thing though I think is what is going to happen when interest rates go up. From what I can see reading around this is almost certainly going to happen in the US in the next year and Australia I believe historically follows in the next 12-24 months, though I think it might happen sooner in this case.
hardware
Posts: 11689
Location: Brisbane, Queensland
Yeah Brisbane's real estate market really seems to be two-speed at the moment - if your property is underpinned by land - prices are up. If it's a unit, then the oversupply has seen prices fall, especially in established blocks.
Spook
Posts: 40826
Location: Brisbane, Queensland
salisbury prices are going nuts.

we bought for $300, worth closer to $600 now.
infi
Posts: 23794
Location: Brisbane, Queensland

I'm wondering if the spreading falling prices in units might also infect houses at some point.


no. unlike units, it's impossible to make more in desirable suburbs.
hardware
Posts: 11690
Location: Brisbane, Queensland
no. unlike units, it's impossible to make more in desirable suburbs
yep. And because so many unit blocks are created by knocking down houses on decent sized land, houses on decent sized land are getting rarer and therefore more desirable and valuable.
dranged
Posts: 2114
Location: Sydney, New South Wales
Don't hate on units too much. Yes, there's an oversupply, but if you can pick up an old(er) unit in say a six-pack at the moment, you have the advantage, and typically being closer to the city it should always rent, and after a few renovations you'll get a solid earner regardless of what the prevailing winds of the time are.

But yeah, a house for sure if you can afford it!
trog
AGN Admin
Posts: 39254
Location: Other International

Don't hate on units too much. Yes, there's an oversupply, but if you can pick up an old(er) unit in say a six-pack at the moment, you have the advantage, and typically being closer to the city it should always rent, and after a few renovations you'll get a solid earner regardless of what the prevailing winds of the time are.

But yeah, a house for sure if you can afford it!
the older units (from a very non-scientific sampling done looking at places in BNE over the years) seem to generally be quite a bit larger than the newer ones. So I'd definitely be looking at older ones with a view to doing some renovation for the bonus space.
yep. And because so many unit blocks are created by knocking down houses on decent sized land, houses on decent sized land are getting rarer and therefore more desirable and valuable.
yeh, I get that point, but I have to wonder if you're a 20-30yo looking to buy your first place (bearing in mind average age to first kid is now much higher), if you can spend half as much on a nice new unit it might drive demand for houses down a bit (combined with rising interest rates). At least that's what I'm hoping for - come on long shot!
infi
Posts: 23795
Location: Brisbane, Queensland

yeh, I get that point, but I have to wonder if you're a 20-30yo looking to buy your first place (bearing in mind average age to first kid is now much higher), if you can spend half as much on a nice new unit it might drive demand for houses down a bit (combined with rising interest rates). At least that's what I'm hoping for - come on long shot!


that's a modest segment of the market. admittedly, the segment of singles and couples without kids are growing and the unit market is expanding to accommodate that.

i think the future of the unit market really will be dictated by the chinese buyers and banks foreign lending policies. there are a lot of settlements due over the next 12 months bought off the plan. if they cannot complete then these units come up for resale and the ass will fall out. APRA has destroyed overseas borrowing power by changing the risk weighting of these loans for banks, and then state jurisdictions are adding on punitive stamp duty charges for overseas buyers.

i think 20-30s are about to enter into a buyer's market. scrape your $80k together and score a bargain.
dranged
Posts: 2115
Location: Sydney, New South Wales
On one hand from a vulture point of view you have to think that 12-18 months past the glut of new units and after they aren't renting or appreciating, maybe with a rate rise, then that's when unit prices will be really fortuitous for 20-30 year olds like you say infi.

But new unit complexes are a dime a dozen and there's often no character to the broader complex, plus you have to throw in lifts, pools, gyms, maybe onsite security, and other expensive s***. Navigating body corporate with so many randoms would be the pits. But you do have the depreciation. I think it's a tighter proposition, but definitely doable depending on circumstances, location etc.
trog
AGN Admin
Posts: 39255
Location: Other International

i think the future of the unit market really will be dictated by the chinese buyers and banks foreign lending policies
So I have heard (in a conspiracy theorist kind of way) that a lot of the foreign money buying property in Aus (& UK) is people trying to move their money to safer locations, which says to me they're mostly buying properties in actual cash & not with debt. I feel like this must be overblown so interested in how much of it is foreign lending polices vs cash purchases ..?
and then state jurisdictions are adding on punitive stamp duty charges for overseas buyers.
but not Qld as I understand things - so it's weird that we haven't seen a boom yet (maybe noone overseas has heard of BNE :)
infi
Posts: 23796
Location: Brisbane, Queensland

AFR article ($)

From July 1 this year, NSW doubled the stamp duty on foreign buyers to 8 per cent and increased the land tax surcharge from 0.75 per cent to 2 per cent.

Along with stamp duty and a federal fee, a foreign buyer is saddled with a 12 per cent tax burden before they can take possession of their property."Will the most recent increase in tax be enough for her to reconsider and cause house prices in Sydney to decline? International experience so far suggests not," the Credit Suisse analysts wrote.

Victoria and Queensland also impose taxes on foreign buyers of residential property of 7 per cent and 3 per cent, respectively.
AFR article ($)

A growing industry of private lenders is offering temporary funding to Chinese investors to settle their apartment purchases in Australia while they wait for Chinese capital restrictions to lift, Chinese agents and analysts say. There are projects across Australia – mostly those which have been marketed mainly to Chinese investors – which are struggling to close apartment settlements but the foreign investor market has not toppled over, they added.
Viper119
Posts: 3321
Location: Other International

I've just bought a 2 bed 2 bath, fairly spacious, older style yet modernly fitted, unit in a six pack block in Mitchelton (Osborne Rd just near the train station and Brookside), halvsies with my brother. Really more as a home for him to live in and a bit of a longer term investment for the both of us.

With the unit oversupply in Bris they really are going pretty cheap. I'd have thought that market glut would even out and even reverse significantly in 10-15 years time though, what with the overall growth trends for Brisbane and QLD. A decent property in the inner city suburb ring (very close to the CBD) with good shops, schools and transport links nearby seems certain to always rent and increase in value in the long term, short-term volatility aside. I'm obvs a bit biased to a positive long term outlook on units now tho!
trog
AGN Admin
Posts: 39256
Location: Other International

A growing industry of private lenders is offering temporary funding to Chinese investors to settle their apartment purchases in Australia while they wait for Chinese capital restrictions to lift, Chinese agents and analysts say. There are projects across Australia – mostly those which have been marketed mainly to Chinese investors – which are struggling to close apartment settlements but the foreign investor market has not toppled over, they added.
Interesting. Doesn't really go into detail about where those private lenders are from, which I'd be very interested to find out (I'm doing a lot of work atm for "private lenders" in the b2b space and trying to get my head around people who'd fund those kinds of things)
notgreazy
Posts: 835
Location: Other International

What is "cheap" for units?
infi
Posts: 23798
Location: Brisbane, Queensland

depends on the age, location, square metres, amenities, body corporate, condition of unit. You have to do research of recent sales which can be done easily by searching sold properties on the property sites.

But to answer your question. $5 dollars is cheap.
Raven
Posts: 9518
Location: Melbourne, Victoria
$5 is a steal. $130k is cheap.
Twisted
Posts: 12272
Location: Brisbane, Queensland

ve just bought a 2 bed 2 bath, fairly spacious, older style yet modernly fitted, unit in a six pack block in Mitchelton (Osborne Rd just near the train station and Brookside)
That the one they're just finishing up now near the tyre join no the corner? I find the town house pricing on the north side interesting (Mitchelton, Stafford, Stafford Heights, etc.). When I was first looking into the property market I looked at buying one. I chose not to and looking at the place today, its been sold 3 times for around the same price as I would have paid for it. So its like the value in these town houses hasn't really gone up or down. I've never really looked into unit pricing so I've no idea if its the same, but I thought that it was a bizarre situation. People seem to pay stupid money for the town houses too..like $400k+ sometimes.
infi
Posts: 23800
Location: Brisbane, Queensland


http://www.theaustralian.com.au/business/property/crunch-time-for-brisbane-with-100-city-apartments-yet-to-settle/news-story/1a08c27928b0f223fe08e064950093ea


More than 100 apartments in a high-profile inner-city Brisbane development are yet to settle amid warnings it is “crunch time” for ­developers in the Queensland capital. Some 20 per cent of the first tower of property developer Gurner’s 520-unit FV development are yet to settle, although the company maintains sales-to-date have allowed the $180 million in debt linked the project to be repaid in full. The planned $600m twin tower development in the Brisbane apartment hotspot of Fortitude Valley is being closely watched as an indication of health for the local market, considered by many — including the Reserve Bank — to be oversupplied. More than 6400 apartments in major developments were due for settlement this year in Brisbane’s inner city, according to research from Urbis, prompting concerns of falling valuations.

Twisted
Posts: 12273
Location: Brisbane, Queensland

apartment hotspot of Fortitude Valley
Really? Is the valley really a residential hotspot? Our office was in the valley for years, f*** me its a s*** hole. Nothing like coming in for on call to find a group of people pissing and s***ting on the steps at the front door of the office at 5am. The side of the building covered with spew. Did I mention that people like to s*** everywhere?
paveway
Posts: 21381
Location: Brisbane, Queensland

Really? Is the valley really a residential hotspot? Our office was in the valley for years, f*** me its a s*** hole. Nothing like coming in for on call to find a group of people pissing and s***ting on the steps at the front door of the office at 5am. The side of the building covered with spew. Did I mention that people like to s*** everywhere?


the valley extends beyond the brunswick mall and the central nightclub/bar area
mission
Posts: 9311
Location: Brisbane, Queensland
Nothing like coming in for on call to find a group of people pissing and s***ting on the steps at the front door of the office at 5am. The side of the building covered with spew. Did I mention that people like to s*** everywhere?


Man, lighten up. They are normal, natural, bodily functions. Next you'll be complaining about people breathing.
Raven
Posts: 9519
Location: Melbourne, Victoria
Next you'll be complaining about people breathing.


Oh no no, make no mistake, we do that too. Just we complain about specific types of people breathing.
thug
Posts: 270
Location: Brisbane, Queensland
300k house back 2012, 4bedroom plus downstairs, just builded a deck, worth 380 - 400 now, 20mins city, 20mins ipswich, 40 to the coast, keep a baseball bat at the door, case s*** gets 'real' lol
Spook
Posts: 40827
Location: Brisbane, Queensland
https://www.brisbanetimes.com.au/business/banking-and-finance/rba-calls-out-brisbane-apartment-glut-risk-20171019-gz41s9.html
Twisted
Posts: 12274
Location: Brisbane, Queensland

Man, lighten up. They are normal, natural, bodily functions. Next you'll be complaining about people breathing.
I'll definitely complain about the fact that they breath it if they're doing it while taking a s*** in someone's door step for f***ing in the gutter covered in vomit yes :)
infi
Posts: 23801
Location: Brisbane, Queensland

AFR Article ($)

Property industry veterans have started raising concerns about the build-up of retail and residential property construction along the east coast of Australia.

Speaking at the Property Council of Australia's annual congress in Cairns, Folkestone managing director Greg Paramor said the snapshot of new investor-style apartments was looking risky.

"We look at all the major cities on the eastern seaboard and we see a genuine oversupply of investment-grade property," Mr Paramor said.

"In the overbuilt areas of Melbourne and Sydney and Brisbane, there is a lot of rubbish that is coming through there," he said.
Nmag
Posts: 850
Location: Sydney, New South Wales

It's believed that what some Chinese have been doing in the Sydney market is laundering money out of communist china. The recent changes have already cooled their input in the local market. They would have been doing the same in other parts. It was getting a bit ridiculous. The media was playing it down, but out in the field it was obvious at auctions. I saw plenty have bid wars and go way over market value ending with Chinese guys bumping each other up. Cooled off now.
Eorl
AusGamers Editor
Posts: 14885
Location: Brisbane, Queensland

Yeah I was gonna say, $380 repayments are mighty sweet but very much depending on your suburb. I know for certain we could easily go buy a four bedroom house out of the city and pay the same in mortgage minus rates etc but can't justify it yet with work being in Newstead. Maybe down the track I'd like to, but we shall see how prices go first.
hardware
Posts: 11691
Location: Brisbane, Queensland
20mins city, 20mins ipswich, 40 to the coast, keep a baseball bat at the door, case s*** gets 'real' lol
Inala?

People seem to pay stupid money for the town houses too..like $400k+ sometimes.
I actually don't see this as stupid. There are some nice townhouses going at the moment in the inner north west, less than 10k to the CBD, close to rail/shops/parks, proper 3br 2bath townhouses, fully air conditioned, quality builds, nice complex, low body corp.

Sometimes paying the extra $50k or so actually is worth every cent - for a better standard of living, now and in the future. Townhouses don't have to be a ghetto/transient town.
shad
Posts: 4096
Location: Brisbane, Queensland
I've had to drop the rental price just to get tenants into a house about 20KM south of cbd. Unit hasn't moved on rental price in 4 years.
trog
AGN Admin
Posts: 39265
Location: Other International

BBC today: Is now the time to raise interest rates?:
Next month is hotly tipped to be the one that changes the direction of interest rates. Last month, Mark Carney dropped what was seen as his biggest hint yet that rates would be increased soon, possibly in November.
Hold on to your butts!!
hardware
Posts: 11694
Location: Brisbane, Queensland
Yeah, that'd be okay. I'd say it'd need to be a small move and then pause for a good few months to test outcomes. It'd be mad to increase rates more than a percent in the next 12 months though.
Zenmaster
Posts: 34
Location: Queensland

sitting here planning for the kids as they are all coming of age in the next 5 years.


I've dumped my idea of helping them to buy a house they can all share and pay out themselves in inner city to mid city BNE.


No point in wasting fuel or energy with an hour plus long drive to work and back each day in traffic. They've learned that themselves looking at my wife and I.


Units in the city are out atm, as they're not cost effective.



I'm hoping they move overseas for life experience ;)
trog
AGN Admin
Posts: 39268
Location: Other International

Units in the city are out atm, as they're not cost effective.
Why are they not? They seem to be so cheap at the moment. Buying a cheap unit in the city to work for a few years while young seems like an alright idea right now because you don't have to give a s*** about property prices for 10-20 years.
I'm hoping they move overseas for life experience ;)
yeh I wish I had done this before or right after uni (instead of waiting til I was as old as I am now) - highly recommended!
hardware
Posts: 11695
Location: Brisbane, Queensland
I'm hoping they move overseas for life experience ;)
And come home approaching 30 without two cents to their name?
Sure.

How ya gonna keep em down on the farm, after they've seen paris...
sLaps_Forehead
Posts: 7744
Location: Brisbane, Queensland
Don't buy into a block of units with an elevator or pool. Otherwise, you will be raped with high body corporate fees.
Zenmaster
Posts: 35
Location: Queensland
Slappy, you just described my aged-care investment in Tennyson.


Shhhh
Spook
Posts: 40830
Location: Brisbane, Queensland
id be angry if my kids wanted to waste their money/lives on travelling.
trog
AGN Admin
Posts: 39271
Location: Other International

Pretty sure it's illegal to keep your kids in the basement and never let them out to make them into perl programmers
Spook
Posts: 40831
Location: Brisbane, Queensland
it shoudlnt be!
Tollaz0r!
Posts: 18477
Location: Brisbane, Queensland

fairly certain at least in the past you said you were at north lakes, did you move recently?


I live in a suburb nearby. When asked I usually respond with North Lakes as more people know where that is and it's just easier that way. So perhaps that is what you remember?
Tollaz0r!
Posts: 18478
Location: Brisbane, Queensland

I have significantly benefited from the move. I have access to better quality schools for my children, and the train ride to work is now ~20 minutes not ~45, each way each day.

Further to this, my house is now worth almost $100k more than I bought it for, judging by recent sales prices, whereas my old house would perhaps be worth $45k more.


Only crazy people use Brisbane Public Transport, so yeah .. you'd have to be crazy ;P

It's good it has worked out positively for you, you need to be able to safely service that increased loan cost though, which I assume you could/can, as crazy as you are.

I have to admit though, it's pretty frustrating watching house prices go up in surrounding suburbs that offer less, whilst my area has a much slower .. and probably more sustainable increase.

Although that is likely to change rapidly if cashed up Sydney people keep selling their Sydney shacks for millions and buying site unseen houses in the area, of which happened to the house next door to us. The real estate certainly embellished their description of the house.

At least if interest rates rise, the houses in our area will probably not get sold off rapidly .. as they are super serviceable at their current prices compared to most of Brisbane and surrounding areas.
infi
Posts: 23802
Location: Brisbane, Queensland

I just saw a mate of mine bought a 3 bed timber s*** box at ashgrove for 907k. That's f***ing madness.
Zenmaster
Posts: 36
Location: Queensland
he should have bought into FTTN switch companies instead.


NBN FTTP Pricing for the average Australian home locked into FTTN is a min for $10k for a 500m line install.


You can ask triple that from any interstate and overseas buyer and get it now.


FTTN is poor mans internet - FTTP is hot for a property. That isn't going to change

last edited by Zenmaster at 18:22:30 23/Oct/17
Spook
Posts: 40832
Location: Brisbane, Queensland
is that you Koopz?
funky
Posts: 1909
Location: Canada
I'm contemplating moving back to Brisbane, dependent on some immigration stuff with Canada, and i'll definitely be looking to rent inner city, near train, likely in a 1 bed apartment, at least initially. So hopefully rents continue to lower! although pretty much everything i've seen so far is cheaper for the equivalent space in Toronto and I get paid more in Aus, so I think i'll be okay
hardware
Posts: 11696
Location: Brisbane, Queensland
I have to admit though, it's pretty frustrating watching house prices go up in surrounding suburbs that offer less, whilst my area has a much slower
You're absolutely right, objectively the suburb should be worth more.
But
The key problem still remains, decade in, decade out: Housos. The prices are low because the place is known to have a high proportion of housos, and because the prices are low, it attracts housos. A vicious cycle, that's never really been broken. People pay a premium (through FUD possibly) in North Lakes because of the idea that you're far more likely to have a 'white picket fence family' move in next door than housos with slamming screen doors and screaming arguments late at night and vicious dogs and incessant music and police visits etc. Not a problem unique to the suburb, but one it never really managed to shake.
trog
AGN Admin
Posts: 39274
Location: Other International

A vicious cycle, that's never really been broken.
Except when suburbs are gentrified though right? Which I have to assume is happening at a rate of knots now given how many dumps are getting sold for huge prices so they can be renovated or converted into units
sLaps_Forehead
Posts: 7746
Location: Brisbane, Queensland
The Kiwi's have the right idea

https://www.macrobusiness.com.au/2017/10/legend-ardern-bans-foreign-property-buyers/
hardware
Posts: 11697
Location: Brisbane, Queensland
Except when suburbs are gentrified though right?
Yes. This is what happened in Nundah. Derros for days in the 90s, now it's for the trendy set.

Fortunately or unfortunately, gentrification moves slowly. It seems to move in a super slow 'shockwave' in a radius from the city. In the late 90s/early 2000s all the activity was happening in suburbs about 8k from the CBD: Ashgrove, The Grange, Holland Park etc. As the land becomes more scarce, this is starting to push out, and the effects are being felt at about the 10/11/12k from the city. Wavell Heights is worth a bomb.

But the gentrified suburbs all have two things in common: the median dwelling age is in excess of 50, and new land was exhausted decades ago.

Unfortunately in my former suburb neither of these things were true - at 28k by road, gentrification was so far off it wasn't funny. The majority of houses in the suburb were less than 30 years old, and there was still new land that hadn't been portioned and sold. And whilst it had plenty of servos, grocery shops and fast food, all the trendy places and entertainment (movies, night dining, ikea, costco, bunnings) were in adjoining suburbs, but not actually in it. And whilst 'adjoining suburb' seems close, it was a whole 20 minutes of driving just to go to Bunnings and back!

Long story short, gentrification isn't random, there are key predictors. Housos are here to stay up in Pine Rivers.
Crizane Tribal
Posts: 3724
Location: Brisbane, Queensland
Yes. This is what happened in Nundah. Derros for days in the 90s, now it's for the trendy set.

Fortunately or unfortunately, gentrification moves slowly. It seems to move in a super slow 'shockwave' in a radius from the city. In the late 90s/early 2000s all the activity was happening in suburbs about 8k from the CBD: Ashgrove, The Grange, Holland Park etc. As the land becomes more scarce, this is starting to push out, and the effects are being felt at about the 10/11/12k from the city. Wavell Heights is worth a bomb.

This. My wife and I bought in a suburb adjacent to Nundah 3 years ago, so we're about 11km from the CBD as the crow flies. The area is really starting to gentrify; new, upmarket cafes and shops are opening, private schools are expanding, trains are... well, still s***, but I can get from home to the CBD in under 30 minutes. We have recently seen houses not as nice as ours (on smaller blocks without perks like our hardwood floors and modern kitchen) go for $100k more than what we paid. Rents for similar houses are about equal to what our mortgage payments are.

Rents are pretty crazy though; I'm glad I got into home ownership when I did. It feels like we're heading towards a society of haves and have-nots.
Zenmaster
Posts: 37
Location: Queensland

currently sitting here renting a room from a mate I met on Qgl.org years ago oddly enough... nearly divorced for the first time


it's $60 a week in Logan, Brisbane. Price includes power, internet, water and being okay with the occasional experiment causing the block to lose power.




Looking back now, I shouldn't have married when and why I did.


I should have put together a space for new talent to come and code, with the trade off being that they rented out and helped pay out the bills.


It just seems so clear to me now - I don't know why i didn't do that...
trog
AGN Admin
Posts: 39277
Location: Other International

And whilst 'adjoining suburb' seems close, it was a whole 20 minutes of driving just to go to Bunnings and back!
I thought all Bunnings were placed in an alternate dimension so that no matter where you lived, it took at least 20 minutes to get to one.
Unfortunately in my former suburb neither of these things were true - at 28k by road, gentrification was so far off it wasn't funny. The majority of houses in the suburb were less than 30 years old, and there was still new land that hadn't been portioned and sold. And whilst it had plenty of servos, grocery shops and fast food, all the trendy places and entertainment (movies, night dining, ikea, costco, bunnings) were in adjoining suburbs, but not actually in it.
That is kinda far out of the city though; as you go further out I can imagine the Time to Gentrify being almost exponentially higher.
Spook
Posts: 40837
Location: Brisbane, Queensland
if you live further than 5 mins from bunnings, you've done something very wrong.
paveway
Posts: 21389
Location: Brisbane, Queensland

it will be a long time before gentrification starts out in petrie and those MBRC boonies

as someone involved in a lot of these annoying 2 and 3 block into 1 unit site developments, there isn't much or any of it happening in Moreton Bay Regional Council area
natslovR
Posts: 8459
Location: Sydney, New South Wales

I'm off to see some Brisbane rental places next week after looking over different areas a few weeks ago. Selling in Sydney and moving the family up. Rent seems ok for what we are looking at - 4 beds, Kenmore highschool catchment - think we can pick up something for ~$700/week.
Spook
Posts: 40839
Location: Brisbane, Queensland

Welcome aboard!
hardware
Posts: 11698
Location: Brisbane, Queensland
Yeah, quite right pave. They gotta get through bracken Ridge first which won't happen until about 2101
Sir Redhat
Posts: 2156
Location: Sydney, New South Wales

if you live further than 5 mins from bunnings, you've done something very wrong.

I bet this correlates with a bad walkscore neighbourhood.
Spook
Posts: 40841
Location: Brisbane, Queensland
i wouldnt know becuase that is a dumb thing
sLaps_Forehead
Posts: 7748
Location: Brisbane, Queensland
paveway
Posts: 21391
Location: Brisbane, Queensland

I bet this correlates with a bad walkscore neighbourhood.


you say that like anyone else in this thread cares about that other than you
Twisted
Posts: 12280
Location: Brisbane, Queensland

Walk Score doesn't calculate whether there are sidewalks, how many lanes of traffic one must cross, how much crime occurs in the area, or what the weather is typically like. It also doesn't differentiate between types of amenities, for example a supermarket grocery store versus a small food mart selling mostly chips and liquor.
Sounds like some retarded Google maps s*** someone threw up one night because they could. Doesn't seem particularly useful. My mates apartment gets a walk score of 96, but having been in that building so many times it doesn't factor in the 10 minute trip down one of the 2 elevators that just about stops on every floor as people are argue about cramming more into the lift...
infi
Posts: 23806
Location: Brisbane, Queensland

"What's your WalkScore?" There must be an app for this.
trog
AGN Admin
Posts: 39290
Location: Other International

Analysts at Swiss banking giant UBS have called a top to the Australian housing market, signalling the end of 55 years of growth during which home values soared by more than 6500%.
infi
Posts: 23814
Location: Brisbane, Queensland

It may go flat but it won't go back.... Unless. Interest rates go up.
trog
AGN Admin
Posts: 39291
Location: Other International

Interest rates are widely predicted to be going up tomorrow here in UK. It's gonna happen! (Trying to decide if I think it's definitely going to happen tomorrow enough to buy some more pounds)
Sir Redhat
Posts: 2157
Location: Sydney, New South Wales

Sounds like some retarded Google maps s*** someone threw up one night because they could. Doesn't seem particularly useful. My mates apartment gets a walk score of 96, but having been in that building so many times it doesn't factor in the 10 minute trip down one of the 2 elevators that just about stops on every floor as people are argue about cramming more into the lift...

Rofl maybe one day it will take into account s*** lifts in a building.

It is not a perfect tool, but f you don't like hopping in your car to do everything and you are moving to a new city or new area without having experience there, it will give you a good idea of amenities.
trog
AGN Admin
Posts: 39292
Location: Other International

Sounds like some retarded Google maps s*** someone threw up one night because they could. Doesn't seem particularly useful. My mates apartment gets a walk score of 96, but having been in that building so many times it doesn't factor in the 10 minute trip down one of the 2 elevators that just about stops on every floor as people are argue about cramming more into the lift...
I think it looks kinda cool. The lift thing is a problem that should be identified in the real estate listing for the property. It's a constant source of irritation to me how little information is available for simple metrics like this edit: on property websites
Twisted
Posts: 12282
Location: Brisbane, Queensland

I think it looks kinda cool.
Maybe if the data and logic behind it made sense. But to not actually take into consideration how easy an area is to actually walk around...sort of defeats the whole purpose of the site and leaves it in the "I threw this up over the weekend in Google maps" category.
trog
AGN Admin
Posts: 39293
Location: Other International

Maybe if the data and logic behind it made sense. But to not actually take into consideration how easy an area is to actually walk around...sort of defeats the whole purpose of the site and leaves it in the "I threw this up over the weekend in Google maps" category.
I tried it in my area and it was accurate - do you have examples of areas where it's not accurate?
sLaps_Forehead
Posts: 7750
Location: Brisbane, Queensland
Smart lady, lovely teeth too.

trog
AGN Admin
Posts: 39296
Location: Other International

http://www.bbc.co.uk/news/business-41846330
For the first time in more than 10 years the Bank of England has raised interest rates.

The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007.
funky
Posts: 1910
Location: Canada
I used walkscore to check out neighbourhoods when i moved into downtown Toronto, worked pretty well from memory
taggs
Posts: 6527
Location:

I'd be keen to see a correlation between walkscore and median rent - my score is max but my rent is max++

Also gogo BOE thats good
trog
AGN Admin
Posts: 39305
Location: Other International

The feeling seems to be that the BoE rate increase wasn't confident enough which is why the pound went down (despite going up the week before on the news that it was probably going up). Money is weird. I guess the we just have to wait and happens in the next 3-6 months.
Scooter
Posts: 6609
Location: Brisbane, Queensland

Walk score is pretty low for my place. However I have a fairly different opinion on 'within walking distance' to them......
Spook
Posts: 40849
Location: Brisbane, Queensland
yer, most people faint at the thought of walking up steps.

i crack the sads if i dont bust out 15000 steps a day.
trog
AGN Admin
Posts: 39313
Location: Other International

Damn that's a lotta steps. I just got a fitbit thingy and am amazed at how much walking 10k steps is, especially working from home.
Spook
Posts: 40851
Location: Brisbane, Queensland
yer, i walk the doggys twice a day, run, play sport and walk everywhere i possibly can, so 15k is the goal.
infi
Posts: 23824
Location: Brisbane, Queensland

spook loves his boxed wine
Spook
Posts: 40852
Location: Brisbane, Queensland
i am off the boxes now.
trog
AGN Admin
Posts: 39316
Location: Other International

yer, i walk the doggys twice a day, run, play sport and walk everywhere i possibly can, so 15k is the goal.
you'd love Europe dude. so much great walking to be had.
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