We are looking at Docklands as it is the only place where prices have not gone crazy.
One day it may boom. Or not.
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Isn’t a lot of banks kinda blacklisting docklands at the moment as a no growth area
I was down there on Friday visiting a new restaurant. There were loads of empty shopfronts. Its got everything but the people. I think they need to have free parking & even free shuttles from the CBD to encourage patronage. It feels like only the people living in the towers use the facilities & even then my understanding is most buildings are struggling to fill. The potential is massive but I’m not sure if or when it will take off.
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10 years and it will be booming. I will be dead and cremated by then, but Bombers will have won six flags.
What was restaurant like ?
I’d be real nervous about sinking cash into any sort of apartment in Docklands (or any other relatively recent highrise development) right now without an absolutely ironclad guarantee that the various issues re flammable cladding and building standards wouldn’t come back and bite me in the bum. I suspect that’s one of the reasons the market is flat in that sort of property right now to be honest - nobody wants to buy a place and then a few months later get a letter from the body corp saying many millions of repairs are needed to get the building up to spec cos the inspectors and builders played it shonky a decade ago, and your six-figure bill is in the mail.
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The restaurant was fine, nothing spectacular but its a great looking spot & nice setup. In a better location it would be a popular lunch venue. Maybe with the entire city area going through a massive transition it may help this area but I suspect its going to continue to lag behind for at least a few more years. As I said, the place has everything but numbers. It seems inevitable that it will eventually become popular & boom but I wouldn’t be rushing to invest in it right now. I suspect it may not have bottomed out. We may be 12+ months away from resuming significant immigration & student visa numbers from Asia which appears to be the main demographic.
Why do you say that?
Adopt a worker….
If that doesn’t say where Australia is right now between haves and have nots I don’t know what does.
We have a sick country where an average 2 bedroom flat is making more per year than the average full time working human being.
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Can’t speak on Docklands but I do think that if there was an obvious unloved area of the property market it would be CBD apartments in Sydney and Melbourne.
Just buy into older blocks with a good history perhaps?(I don’t know anything about picking good buildings, and share your concerns about docklands or any other new area)
Surely as the pandemic eases demand for inner city property will kick off again.
For the new cbd fifo worker, for those who have lost the working from home job in the regions, for new immigrants etc etc?
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twice the price of the docklands shoeboxes
Yeah so I checked out this auctioneer who was featured in the block tv show in sydney.
On the weekend he auctioned an empty block of land in Bella Vista Sydney.
If you don’t know where Bella Vista is in Sydney in comparison to the city and harbour check it out.
An empty block of land, I mean it was decent size, but guess how much it sold for.
2.675 million dollars 
I heard last year about someone paying $30m for some land in western sydney that most thought was worth ~$3 m
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The govt
Yeah that was government corruption.
This is a decent sized housing block what some 40 km from the cbd in a new housing development.
It’s insanity.
I just do not get it and if it’s the sorta norm(not really closely following things)
Then there is a big big problem brewing.
Debts at around 2% retail. None of these prices will be supported when it’s at 4%. And suburban buyers are mortgage belt buyers. these ain’t cashed up millionaires buying in suburbia.
Because you’re sitting on a gold mine.
Here in Melbourne, an outer suburban subdivided 1/8th acre block for a townhouse is about $300k worth
Not sure how that stacks up to inner suburban Brisbane, but probably along similar lines.
And you potentially have… how many of them, exactly??
Lots.
Lots and lots and lots.
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The property has multiple overlays though, including koala, which would make developing very difficult.
We need to weigh up setting ourselves up now while our kids (and us) are yound enough to benefit or cashing in later. At the moment all we do is work to pay off the mortgage or work around the place to maintain it
I assume some blitzers are buying and selling in this market but plenty aren’t.
For those holding investment property (I wish I was)
Why aren’t you cashing in?
There surely isnt much left on the table.
20 years of promises the housing bubble will burst and yet? Nothing
Inflation is at 6.4% in the states.
They must be at reign in point.
And they haven’t had to pull in inflation like that for over 20 years. So yes it’s not normal compared to recent memory,
Capital gains tax?
(Not sitting on an investment, but thought this would be one reason)
Also, why bother.
If you had a rental property, that’s now fully paid off and positively geared. Nice. If it’s doubled in value since you got it, don’t you now have more leverage to go and borrow/buy, I dunno, let’s say, another rental property…?