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Discussion Starter · #1 ·
Will be interesting to see how true this prediction is!

Get set for new housing boom

BRISBANE looks set for a fresh housing boom, with prices tipped to soar 22 per cent in the next three years.

And the entire southeast looks set to follow, with a key report predicting the region's price growth will outstrip the rest of the nation.

The BIS Shrapnel Residential Property Prospects Report 2001 to 2010 says Brisbane's market will grow by 5 per cent in the next financial year, before hitting its straps in the 2009-2010 financial year.

Report author Angie Zigomanis said the Gold Coast and Sunshine Coast markets were also on the rise, but not at the same rapid rate as Brisbane.

Gold Coast prices are forecast to rise 16 per cent over the next three years, while the Sunshine Coast will rise by 15 per cent over the same period.

Mr Zigomanis said while Perth had given Brisbane a run for its money in recent times, the West Australian capital was now slowing.

Melbourne is tipped to achieve strong growth of 18 per cent, while Canberra (15) and Adelaide (16) are predicted to show some modest growth.

Perth and Darwin are tipped to begin to pull back as affordability becomes a major issue.

Mr Zigomanis said an easing of the resources boom would not affect Brisbane's price growth as much as Perth's because southeast Queensland's economy was more diverse.

"We have, I guess, seen the early stages of the pick-up coming through in the last six to 12 months in Brisbane," he said.

Sydney's price growth over the three years was forecast at just 8 per cent.

Brisbane's growth is underpinned by several factors, including underlying demand, more attractive affordability compared with other states, and strong economic conditions.

Mr Zigomanis said low vacancy rates and solid rental growth would attract more investors back into the market to compete with owner occupiers.

Prices will be pushed up as owner occupiers and investors compete for the same properties.

High employment growth in Brisbane had also made buyers more confident about investing in residential property.

The report forecast a slowing of the frantic price growth in North Queensland, but Townsville (17 per cent) and Cairns (16 per cent) would still achieve respectable rises.
 

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Discussion Starter · #3 · (Edited)
Maybe the first time buyers should lower their expectations and not try and buy a 400,000 property straight up! If there is massive demand for below $300,000 and less demand for others, than this would alter the market and more of these priced houses would be constructed. The problem is everyone wants an ensuit, the living area to be the size of an apartment and a 3/4acre block.

This is a little simplistic, and there are holes all through it, but it bugs me when first home buyers wont consider buying anything that doesn't look amazing. They also look at the average house price and many blatently refuse to purchase an apartment, which, if the same price, you often save in living expenses because of the location of many apartments.
 

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The apartment thing doesn't really work, as body corp fee's can change significantly and you can't stop it if you're out voted at AGM's (like me :( ). Hence I got rid of it and bought a house.

Can't blame people for wanting something where they want to live, I mean lower priced housing usually means higher crime areas and filled with dickheads with clapped out V8's.
 

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Discussion Starter · #5 ·
I know it is a little off topic but your comment Brissy Lad made me think of it. I really believe that the body corporate fees should be paid to council and have council be in charge of all upgrades and payments for the building in the same way the pipes, sewerage etc. upgrades and installation, are paid for by council. The elevators can be seen to be like public transport. This may spread out the cost a little and encourage higher density living.

Just a thought that spurred from the body corp fees in Aurora being doubled.
 

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These stupid articles drive me crazy.

Markets are not predictable!! These articles are issued by Property Groups who set their own agenda.
 

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the property market is fucked up. the only reason that governments dont run enquiries into the rorting of the market is because there are average ppl to gain out of it, just as there are average ppl to be ripped off by it.

im looking at buying my first property within 10km of the cbd and on a transport corridor. there is nothing under 350,000 and everything above is barely at a standard you would expect from that price. 350,000 buys a brand new 4 bedroom home in caboolture and buys a 80 year old, delapidated timber shack in the inner city. im fucking sick of it!!!!!!!!!!!
 

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First home buyers (which will one day be me) should really look to buy somewhere nice but not close to the city. Ideally, in my view, they should look to buy somewhere on the train line (to maintain value of house) which would be about a 1 hour ride to the city. So a nice place on the train line in Ipswich, Caboolture, Ferny Grove, Shorncliffe, Cleveland line or Gold Coast line should see them with a nice and affordable home to pay off and build equity.
 

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If these forecasters were so accurate with their prediction, they would not have held down a job as a forecaster, they would have become the richest people in the world. All they need to do is to put their money where their mouth is, borrow every dollar they can, buy the index, and wait. Repeat it a few times and they are on their way to rule the world.
 

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the property market is fucked up. the only reason that governments dont run enquiries into the rorting of the market is because there are average ppl to gain out of it, just as there are average ppl to be ripped off by it.

im looking at buying my first property within 10km of the cbd and on a transport corridor. there is nothing under 350,000 and everything above is barely at a standard you would expect from that price. 350,000 buys a brand new 4 bedroom home in caboolture and buys a 80 year old, delapidated timber shack in the inner city. im fucking sick of it!!!!!!!!!!!
I'm in the same boat - I'm currently hunting around for property - but my price range is more like $250k. Properties in this range are on the market for about three days (has been like this for about 2 months since I've been monitoring) - some sell the day they list. The really dodgy ones last about a week or maybe two (some remain listed for a while because the seller is actually in negotiation and it's not actually under contract yet...).

Houses in some areas are starting to sell for *more* than their list price, because people are scared of losing out on properties they'll pay what the seller is asking (or more) to ensure they get it. So sellers are becoming less open to negotiation... It's pushing us low-end people out of the market... I'm over it!!
 

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First home buyers (which will one day be me) should really look to buy somewhere nice but not close to the city. Ideally, in my view, they should look to buy somewhere on the train line (to maintain value of house) which would be about a 1 hour ride to the city. So a nice place on the train line in Ipswich, Caboolture, Ferny Grove, Shorncliffe, Cleveland line or Gold Coast line should see them with a nice and affordable home to pay off and build equity.
Yes, let's celebrate urban sprawl. :banana:

No. They should be looking at higher density, lower cost.
 

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Yes, let's celebrate urban sprawl. :banana:

No. They should be looking at higher density, lower cost.
Since when does inner city higher density equate to lower cost? Inner city apartments are not cheap. For example a 1 bedroom apartment at Gabba Central were listed at 300k. These were hardly high quality apartments. You could probably pick up a bit cheaper in an older run down 70's block of units somewhere but these generally require work and are pretty small internally.
 

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That has actually been an issue with 'New Urbanism,' in that it has tended to produce pretty, but expensive housing despite the theory of compactness reducing costs.
 

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Discussion Starter · #17 ·
How much does a car cost per week? It is things like this that cause the savings. I don't own a car and live quite happily without it.

Higher density can be cheaper, but at the moment due to the relative supply is more expensive.
 

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Excluding the cost of the car I would guess the cost of running a car per week would be somewhere from $60 a week and upwards depending on the type of car and how much travel you do. For a lot of people that cost we be above $100. That would include depreciation, insurance and fuel etc.

Despite that I still beleive that it is a major inconvenience to not have a car even if you live in the inner city. I live in an apartment complex in Newstead and most people have two cars. More than half of them do not work in the city and a minority use public transport.

The reason why inner city is so expensive is the cost of the land. For example the tiny block of land behind James St markets in Wandoo St which had a run down house on it auctioned for nearly 2million late last year. Developers need to increase the cost of their units to get a return on their investment.
 

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Car ownership calculations do not take into account the land requirements for cars in all residential and commercial projects which are compulsory under local government regulations - whether you have a car or not. You are unable to make full savings by not owning a car and reducing a household footprint quite significantly. These costs are hidden in mortgage repayments. Hence, the actual costs or car ownership are way over $100 per week.
 
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