{"id":14348,"date":"2017-10-17T01:00:13","date_gmt":"2017-10-16T14:00:13","guid":{"rendered":"http:\/\/www.realestatetalk.com.au\/?p=14348"},"modified":"2017-10-17T01:00:13","modified_gmt":"2017-10-16T14:00:13","slug":"things-to-know-before-you-buy-in-brisbane-shannon-davis","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/things-to-know-before-you-buy-in-brisbane-shannon-davis\/","title":{"rendered":"Things to know before you buy in Brisbane \u2013 Shannon Davis"},"content":{"rendered":"

As we look to bring you another \u201cBuy In Brisbane\u201d episode \u2013 our very popular vlog with Shannon Davis – I am out to answer a question from Cheryl and her husband Neil who ask what they should be considering if they are looking at buying in Brisbane.\u00a0 Shannon tells us about a few areas you should consider carefully.
\nTranscript:
\nKevin:\u00a0\u00a0<\/strong>As you know, we\u2019re great supporters of property generally, but we have a major focus also on the Brisbane market, hence our special vlog that comes out every fortnight that we produce with Shannon Davis, and that is Buy in Brisbane. Shannon joins me.
\nBrisbane, of course, has been highlighted as a very livable city and a city that\u2019s had fairly steady growth for actually quite a few decades now, Shannon, but local knowledge, you can\u2019t beat it. You\u2019re the man on the ground. What are some of the considerations people need to know or bear in mind if they\u2019re going to buy property in Brisbane?
\nShannon:\u00a0\u00a0<\/strong>I think first off, Kevin, it\u2019s north versus south. People tend to stay put and rarely visit the other side as much, so be aware of this little idiosyncrasy.
\nKevin:\u00a0\u00a0<\/strong>How can that impact investors?
\nShannon:\u00a0\u00a0<\/strong>The northern suburbs have historically been worth more. It has the airport and the CBD on its side of the river. They\u2019re the two major employers, and probably the biggest advantage, more proven than some of the south side suburbs.
\nBut on the south side, it has more upside I think. It\u2019s benefiting from young families moving in, and there has been really rapid price growth in the inner and middle suburbs, and there\u2019s probably better infrastructure and it\u2019s closer to hubs like the Logan and the Gold Coast.
\nKevin:\u00a0\u00a0<\/strong>Yes, I was going to mention the Gold Coast. That\u2019s probably one of the big pluses on the south side. But I guess also on the north side you have access on to the Sunshine Coast, so in another sense, I guess Brisbane really benefits from having those two major coastal centers, north and south, doesn\u2019t it?
\nShannon:\u00a0\u00a0<\/strong>Yes, it does. But the southern infrastructure is probably a little bit better given the Logan motorway, Ipswich motorway, and more lanes for the M1. So, in that sense, it probably has a little bit of an advantage.
\nKevin:\u00a0\u00a0<\/strong>What are some of the other things we need to bear in mind if we\u2019re comparing Brisbane to Sydney and Melbourne?
\nShannon:\u00a0\u00a0<\/strong>I think outdoor living is a necessity, a bit of a deal-breaker for us, and it needs to have cover. For example, my family eats outside and swims for about ten months of the year. So, when you\u2019re looking to investing into Brisbane, I think if it\u2019s an apartment, it needs a covered balcony, if it\u2019s a house, it needs a patio or a deck, and for me, it\u2019s a bit of a deal-breaker if it doesn\u2019t have that.
\nKevin:\u00a0\u00a0<\/strong>Okay, outdoor living. Anything else we need to consider?
\nShannon:\u00a0\u00a0<\/strong>Yes, flood zones. Living through the 1974 and 2011 floods, it\u2019s a bit of a no-brainer. Not all sites are affected, but even such things as overland flow is critical if you\u2019re considering a value-add strategy.
\nKevin:\u00a0\u00a0<\/strong>Yes, because the council did send out notices to everyone, I understand, in Brisbane about overland flow. A lot of people got very scared about it. How high does that flooding have to be before it adversely affects the value of the property, Shannon?
\nShannon:\u00a0\u00a0<\/strong>If it\u2019s had damage and water through the property, it\u2019s going to be put-off for buyers, and anything that is limiting your market depth is going to have a bit of a brake on capital growth. There will be periods where people forget about flooding issues, but for me, it\u2019s first and center, and it\u2019s not one recommendation that I\u2019d make if a property has been adversely affected by floods.
\nKevin:\u00a0\u00a0<\/strong>Of course, it\u2019s very easy to get around Brisbane as well, lots of good infrastructure. How important is it to be close to some of those hubs, both north and south, and being able to get around through tunnels and so on?
\nShannon:\u00a0\u00a0<\/strong>I think it adds value in the fact that infrastructure is a gift from the taxpayers mainly, and if you have access to that and it\u2019s reducing your traffic lights and your commute, it\u2019s something that we have to look for and probably a way to future-proof your investment, because you could probably add in the next 10 to 15 years another 500,000 cars to the roads.
\nKevin:\u00a0\u00a0<\/strong>Shannon, I often think about Brisbane as not being as busy as Sydney and Melbourne. How important is off-street parking?
\nShannon:\u00a0\u00a0<\/strong>Off-street parking is really important. We wouldn\u2019t consider an investment without off-street parking at the moment, because there\u2019s more of a love affair for Queenslanders and their cars, and there\u2019s not as much traffic in the commute to the coast and things like that. So, if you can find one or two off-street parking, all the better.
\nKevin:\u00a0\u00a0<\/strong>Yes, off-street parking, we\u2019re talking about that. Some of those higher density areas where they\u2019re putting in a lot of units, you go around the streets and there\u2019s not much parking left. It becomes a real problem, doesn\u2019t it?
\nShannon:\u00a0\u00a0<\/strong>Yes. I was recently in Sydney too, and there are lots of places that are offered without parking. It\u2019s probably something that may be up to the future but not quite here.
\nI think also, Kevin, that Brisbane is more of a buyer-friendly place. Private treaty is the preferred mode of sale, and even auction properties tend to go prior to sale or after sale. They have a lower clearance rate. I think that\u2019s a little bit more buyer-friendly, and we can all of course have a cooling-off period and get building and pest and things like that. So, when we\u2019re working with buyers in Brisbane, they often report how it\u2019s a little bit better for the buyer.
\nThe other thing is timber and tin in the southern states can sometimes have a bit of a stigma about it; it\u2019s considered in the lower socio-economic areas. But in Brisbane, some of their most prestigious houses are made of timber and tin, and there\u2019s a big market depth for it, huge owner-occupier appeal, and they can be very flexible with the value-add strategies that you suggest.
\nThen finally, Kevin, there\u2019s Brisbane and then there\u2019s Greater Brisbane. I think sometimes people without the local knowledge think they\u2019re buying Brisbane but what they\u2019re really buying into is the Gold Coast, Logan City, Ipswich City, or even Moreton Bay regions. I think that\u2019s often described as Greater Brisbane and they haven\u2019t really been told the full facts there.
\nBrisbane comprises of 190 suburbs and has a far different demographic profile than some of those other regions that I mentioned before.
\nKevin:\u00a0\u00a0<\/strong>A\u00a0r<\/strong>eally great insight there for you about the Brisbane market. I guess it would be fair to say that any market really needs some sort of in-depth knowledge, which is really the message in this interview with Shannon, and that is make sure that if you\u2019re going to buy in an area that you get some of that local knowledge, which of course, you\u2019re going to get from buyer\u2019s agents like Shannon.
\nYou can contact Shannon through our vlog, which comes out every fortnight. Have a look for that, giving you a great insight into the Brisbane market with Shannon Davis from Metropole Properties in Brisbane.
\nShannon, thanks for your time.
\nShannon:\u00a0\u00a0<\/strong>No worries, Kevin. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

As we look to bring you another \u201cBuy In Brisbane\u201d episode \u2013 our very popular vlog with Shannon Davis – I am out to answer a question from Cheryl and her husband Neil who ask what they should be considering if they are looking at…<\/p>\n","protected":false},"author":176692471,"featured_media":14349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,10,11,13,36,22,25],"tags":[101],"class_list":["post-14348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"\nThings to know before you buy in Brisbane \u2013 Shannon Davis - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/things-to-know-before-you-buy-in-brisbane-shannon-davis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Things to know before you buy in Brisbane \u2013 Shannon Davis - 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