I know it’s not as hot as Melbourne and Sydney, but can anyone speculate when the Brisbane property market might start to cool down. I’m currently looking at inner city townhouses but could happily wait 6 months.
Cooling Brisbane Property Market
David76 on 13/04/2021 - 20:00
Comments
could happily wait 6 months
What if it doesn’t, what are your options, other then not happy? :)
If you’re going to live there, usually best to buy when you find a place you like.
6 months isn’t going to make a huge difference either way in the bigger picture of 30 year mortgages.
If you miss a place you like, it is something that is a regret, but people rarely regret acting.
but could happily wait 6 months
What if trend is like /
He will go :-/
People hope is like \
It won't. Brissy seems like the place to be and the entire nation seems to be moving there!
And once borders open it'll get even more competitive. Queens wharf and the gabba redevelopment are changing the face of the city.
It's best to get on the property ladder the earliest your circumstances would allow. Cheers!Depends on what you want.
On the weekend I went to 2 auctions to have a look:
First one highest estimate was up to $570k, went for $640k. Nothing special but people seem to like the idea of being between two train stations about 800m to each station. 600sqm block with 60yo house, well maintained by in original condition with wear and tear.
Other one which is 1.5km to the train station but a 670sqm block. Advertised $550k - $600k vendor bid themselves to $600k and passed in. Updated to a decent standard, modern higher end of budget fittings.
Both properties is about 16km from Melbourne CBD. Market is hot and cold. There are desirable pockets that people are paying to get into.
I did get a text from the agents checking my interest and whether they can offer other properties to look at. First time I've had an agent being proactive. I'd say the market is running out of suckers, as it eventually does. But there is also a lot of bad houses being offered on the market (run down, owners don't have money to update and irregular shaped blocks etc).
Everyone is saying it will neither stabilise nor go down. But if it did, my guess would be around 2023. By then those of the current wave of interstate migrants who it hasn’t worked out for will be looking to move back or elsewhere. Speaking from experience my threshold for trying Brissie was 2 years before moving to the Goldie, (I’ve heard of many others with a similar story). It’s also around the time people might feel the impact if the government started reducing interventions propping up the market in 2022. There’s a lot of variables here though, I don’t think it’s predictable what will happen once international border restrictions ease up as predicted late this year (my guess is around Nov/Dec but who honestly knows). If you listen to Christopher Pyne we might be at war with China in a few years - anything could happen.
Seems to be cooling already
With what evidence?
REA listing's from what I am seeing
cool down usually means price flattening out.. it doesn't mean drop