{"id":34771,"date":"2021-09-24T12:30:05","date_gmt":"2021-09-24T00:30:05","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34771"},"modified":"2021-09-24T12:30:05","modified_gmt":"2021-09-24T00:30:05","slug":"how-brisbane-became-australias-new-property-darling","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/how-brisbane-became-australias-new-property-darling\/","title":{"rendered":"How Brisbane became Australia’s new property darling"},"content":{"rendered":"

PHOTO:<\/p>\n

ANALYSIS: ‘The Brown Snake’, ‘Brisvegas’ – for years locals jovially mocked Brisbane’s ‘backwardness’ compared to the haute Sydney and Melbourne.<\/strong><\/p>\n

But spicy cough lockdowns have dragged on – Melbourne has 220-plus days’ collective lockdown under its belt, and Sydney is now not far behind.<\/p>\n

Brisbane<\/a> is now looking like the hottest destination for southerners, suitcases or mobile phones in hand, ready to buy or bid in-person or virtually, and looking to get outta Dodge.<\/p>\n

A new survey\u00a0indicates 44% of property investors are looking to buy outside the state in which they live – up from 41% a year ago.<\/p>\n

More than half now believe Queensland offers the ‘best’ investment potential – up from 36% last year.<\/p>\n

\"John<\/a><\/div>\n
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John McGrath \u2013 What the Brisbane Olympics will do for home values<\/a><\/h2>\n<\/header>\n<\/div>\n

Brisbane under the hammer<\/h3>\n

Anecdotally, having attended upwards of 50 auctions in the past couple of months – virtually and in-person – a growing number of winning bids have been via phone, and a growing number of attendees are from either Sydney or Melbourne.<\/p>\n

Don’t ask me why I’ve been to 50 auctions.<\/p>\n

On a balmy afternoon in August, a couple next to me at an auction muttered among themselves, “I think that bloke [the auctioneer] has been on\u00a0The Block<\/em>”\u00a0– he had.<\/p>\n

It was for a rather dilapidated house in the (at-present) dilapidated suburb of Moorooka, about 10 kilometres south of the CBD – ripe for the picking.<\/p>\n

In Sydney, 10km out puts you at about Burwood or Concord – well developed hives of their own – but Moorooka is still rather untouched apart from miles of car yards.<\/p>\n

The hammer soon fell for $1.25 million, the property favoured for its large 810 sq m block and development potential.<\/p>\n

The naive couple gasped – they ain’t seen nothin’ yet.<\/p>\n

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Covid pushes Sydney, Brisbane house prices up by more than 20 per cent<\/a><\/h2>\n<\/header>\n<\/div>\n

SQM Research data below shows an uptick in homes scheduled for auction in the River City, minus the Christmas lull and COVID lockdown v1.0 hitting in April 2020.<\/p>\n

A reminder – this is just scheduled auctions, not accounting for homes sold prior or those that have passed-in.<\/p>\n

No matter how you swing a cat, Brisbane used to be like other second-tier Australian capitals where it was relatively uncommon to find a home selling under auction, but now\u00a0the true Olympic City\u2122<\/a>\u00a0is becoming like its bigger brothers down south.<\/p>\n

READ MORE VIA SAVINGS.COM.AU<\/a><\/p>\n

https:\/\/www.instagram.com\/p\/CUDb3lZMmT7\/?utm_source=ig_web_copy_link<\/p>\n

MOST POPULAR<\/span><\/h3>\n