The AFR this week quoted Rod Cornish from Macquarie Capital. "Mr Cornish expected prices to track sideways in Melbourne for longer, while he said Brisbane prices have not yet bottomed."
In contrast, Valuer Herron Todd White's recent report says that the Brisbane property market is at the beginning of recovery, and has passed bottom.
HTW's report also says:
"If you are a unit buyer we will flog the proverbially expired filly – second hand, good size, ready rentable units as
close to the CBD as possible or with good transport links
won’t hurt you. It’s exhausting to repeat this advice but
they offer great value as long as there are no likely body
corporate maintenance and repair surprises coming
For new unit buyers the value is in finding some quality
mid-rise projects in good locations. The value comes in
not just looking at the figure on the page but by actually
gazing upon the bricks and mortar itself. Quality fittings,
a reasonable living space, facilities close by and all the
things that would make owner occupier want to live
there as much as tenants. Don’t get too caught up in the
hype – shop around! A 1- bedder in the heart of the city is
still available for those in the $300,000 price point if you
don’t have a car. If the luxury of a carspace is required,
maybe $320,000 is all that’s needed after a good search
For those at the upper end of the market the joy is limited.
The days of easy money are truly behind us so you need
the cashflow to service the debt if you’re going to borrow.
Quality property is tightly held and the number of buyers
able to fork over big dollars appears limited."