Brisbanes Totally OTT property market
 

Pottered down yesterday to attend a open home with friend whos buying after divorce, thinking that budget would give us an idea what our kids would face if they bought.

Nice but old house, only 2 beds, tiny, no building reports, in obvious need of some repairs etc, But total bedlam..................

21 CONTRACTS on the property on the day:eek: :eek:

Never seen anything like it ever:blink:

knew brissie was suffereing a population surge but thats bloody crazy.

Anyone else out there buying ? how have you found it:eek:

Re: Brisbanes Totally OTT property market
 

We have just bought at shailer park, the 2 other places we wanted to see were sold before we could even get to the viewing the next day! Its going crazy and so are the prices! Pete:cool:

Re: Brisbanes Totally OTT property market
 

Congrats, we looked at a few around there, they didn't seem to last that long. The ones that did stick were quite hilly and we wanted a flat block.

We were previously lodging in Loganlea so we wanted something in that vicinity. We ended up out in the sticks out towards Beaudesert.

All of this 'corridor' is tipped to go nuts over the next few years, hey, they might even make Woodridge a boom-town (not that you can't find decent bargains there these days if you stay off the beaten track).

Re: Brisbanes Totally OTT property market
 

Sounds like Perth market. Now that is bad news!:ohmy:

Re: Brisbanes Totally OTT property market
 

.... and unfortunately it is going to get progressively worse. When we were looking for a new rental, it literally became a drag race to get between two houses, between me and the OH and two single girls. They won after we took a wrong turn at Old Northern Road, Albany Creek. Drat and double drat.

Re: Brisbanes Totally OTT property market
 

Or don't mind living with the riff-raff.

Re: Brisbanes Totally OTT property market
 

It's the schools that would put me off. I'm sure there are pockets of normality over there though. Handy for the trains ... and the drugs ... :(

Re: Brisbanes Totally OTT property market
 

The area in question had 3 bed houses for $290,000 6 months ago, they now have offers high 300's for a 2 bedder, but not accepting them :blink: saying now they may now put the house to auction and see how high people will go:sneaky:.

Crazy stuff, I dont think this is going on in higher price brackets this is the first home owner price range, which in itself is mental, what first home owner could afford $2900 a month repayments which come with a 400 loan:eek:

Re: Brisbanes Totally OTT property market
 

my neighbour is looking to buy in cleveland area and she says you litrally have to be standing in the realestate agents as the houses come on the market otherwise theres no chance and as for rentals if its still the same as it was last yr i had to turn up to the viewings with my applications already filled out

Re: Brisbanes Totally OTT property market
 

Is this Brisbane suburbs or is this happening everywhere ? What about the sunshine coast ? Yep, sounds just like Perth !

Re: Brisbanes Totally OTT property market
 

This is brisbane, this particular suburb 10 klms from city, mind you, looked at suburbs on the way down 18 - 24 klm from bris and situation is just as bad, one house even tho full of termites was on the market friday, gone by saturday morning, people are ignoring all buying rules, anything:eek: seems to be snapped up.

Sunshine coast stock under 400 same situation, not a lot of stock under 400k anyway.

Re: Brisbanes Totally OTT property market
 

Care to tell what sort of suburbs these are. Looking to invest and have heard the Queensland population should be more than Victorias before too long. Money to be made hopefully.

Re: Brisbanes Totally OTT property market
 

We've decided to invest in Qld as WA is too expensive. We are looking at Cairns.

Re: Brisbanes Totally OTT property market
 

Money to be made was probably long before now:blink: houses in the region we looked at 10 klm to city have gone up over 100,000 in 6 months. Gone up about 500% since 2001.

Trouble is like saturday there are dozens of buyers for each property, the main problem is actually getting one to buy:eek:

The house on saturday had 21 contracts, cash, unconditional, over the asking price, hes declined all of them, auction in 2 weeks:sneaky:. This is for a 2 bedroom cottage, illegal height underneath, rotting downpipes, needs new roof, no car accom, bathroom is about 1m x 1.5 m including the loo, asbestos sheet in walls.......... Basically you would be paying for the land which is opposite housing commision thats council housing/homes west type gear:eek:

Re: Brisbanes Totally OTT property market
 

I'm not sure if properties in our area (bayside, from Birkdale to Cleveland) are getting quite as crazy as what you've described, but have recently noticed that almost all decent 4-bedroom properties under $450k are either under offer/contract or are just recently listed. There are very few just sitting around waiting for buyers, quite different from a year ago. It must be getting quite difficult for young families setting up around here. :(

Mrs JTL