In this Wednesday’s episode of MCG Quantity Surveyors’ Geared for Growth podcast, host Mike is joined by our very own Lauren Jones. Together, they uncover the idiosyncrasies of investing in the Brisbane property market. 

 

Check out the full podcast right here!

 

Podcast Transcript

 

It’s no secret that property buyers from southern states have been eyeing off property in the Queensland capital since well before COVID. The last few years, however, have exacerbated that trend, with Brisbane property high on the list of investment opportunities for those increasingly priced out of the market in Sydney and Melbourne. No longer the big country town, Brisbane has come into its own and capital growth trajectories have proven attractive for locals and out-of-towners alike. 

 

As Founder of her own Buyer’s Agency, Lauren is front and centre of the Brisbane market. Lauren understands the local market and in this episode, explains the nuances that you need to understand if you’re looking to mitigate risk whilst investing into South East Queensland.

 

Mike and Lauren cover off how the process of contract negotiation differs to NSW in particular, and talk through particular areas of risk, such as limited disclosure and body corporate special levies, that might trip you up in the contract.

 

Brisbane flood zones are always a topic of conversation in property circles, and Lauren provides detailed insight into how to get the best information on a particular site. She also explains the three different types of flooding, and how it affects different areas of the city, and the impact it can have on insurance premiums.

 

Mike asks about the “Brisbane Turf War”, and Lauren explains the often-fierce loyalty that Brisbanites show to their region, how you’re either a Northsider or a Southsider, and what this means for property. Lauren goes on to describe the traditional building character (TBC) overlay and pre-war vs post-war homes, and why it’s important.

 

This conversation is jam packed with information that will ensure you’re well equipped to navigate the Brisbane property market, including Lauren’s top tips on the hottest locations right now. This is definitely an episode you’ll want to tune in to.

 

 

Key Quotes

 

“The contract process here in Queensland is very different to how the contract process is mainly in NSW with the whole exchange, we don’t have that here” 2:13

 

“The sales agent will actually draw up the contract, it’s not drawn up by solicitors here. I think another thing to mention is that there’s very little disclosure required on these contracts of sale that we’re signing” 5:47

 

“You’re not gonna find anything about flooding in any contract, there is simply no disclosure required for that in Queensland” 10:08

 

“The problem is that you only need your certificate of currency to settle with the bank…so if you’re already unconditional on a contract and then you find out that your insurance premiums are going to be $16,000 a year you run your risk of losing the whole deposit” 13:22

 

“A lot of the demolition control is based around these pre-war post-war homes so if you’re on that city plan and you notice that something is pre-1946 and it has what’s called traditional building character overlay or TBC as we call it, if it’s got both of those things we can’t demolish it, if it’s one or the other you can demolish it” 20:30