Looks like Brisbane's continuing solid economy, with strong employment growth, and affordability for first home buyers is keeping the market rising, according to BIS Shrapnel: Get set for new housing boom | The Sunday Mail
Throw enough darts.... and... hit some targets! Just looking over some of my journals from 04-06... hmmm.... BIS and their predictions I estimate my patch of the Brisbane market has grown 10% in the first half of 2007, which I'm pretty happy with! Please show me someone who predicted that. **edit.. I would also hand a history book and CAGR calculator to the person who wrote the headline... BRISBANE looks set for a fresh housing boom, with prices tipped to soar 22 per cent in the next three years.
Over the last 6 mth's I have seen houses in the Wynnum/Manly area on actual double block's , good quality ones, go from $350,000 to $450,000 some even higher GRRRRRRrrrrrr Dave
I just had one of my Brissy houses revalued and was stoked with the result Purchased in 2004 for $435K and has come back at $585K. 34.5% increase over 3 years makes me content indeed
A 10.38% CAR is very nice, but booming? If you are getting the 3-4% yield then that fits snugly in with the 14% rule of thumb as well for total return. I'm suspecting that in terms of total return we are doing nothing special at the moment since 03, mostly wealth transfer through stealth inflation being higher than CPI might suggest I think. But the FUD pundits are still waiting for their day in the sun for property to stagnate or go backwards in Briz it seems. I have the dirt in my 1918 subdivision where my PPOR is doing 10-11% CAR over almost a century now. The 17% dam levels have me worried now, but there is always something to be worried about perhaps. But like the Christmas turkey one day you will wake up and really have something to be concerned about
Been on the ground in Brisbane for last 2 weeks sniffing around...I can confirm the property market is going crazy here. Particularly for development sites. Very frustrating for all at the moment I think. Cheers N.
Martin, 809 blocks refers to 809 square metre blocks (or 32 perch in the old money) which is generally what most people are looking for to do an easy 'split' to end up with 2 405 metre square blocks (or 16 perch blocks in the old money). Hope this helps. Matt
You may find now that BCC requires a 900 for a knife. There are still a few 809's on seperate titles, or single titles with the line drawn though. If the line is in, it's all good. Dave
I think that comes in 1 July next year...but check for yourself. Examples were called for earlier in the thread. Just a couple: 1) duplex in lota on 2 lots sold for $679 returning very little and zoned res A. 2) 738m LMR site with difficult shape vendor wanting 600k... Etc
As I understand 809's are still good, just not in demolition control areas. Would like to be corrected if that's not the case.
