theexpress.net.au

Next Generation Stares Down Brisbane's Housing Crisis


In Australia, housing affordability is at its lowest level in three decades and for first-home buyers, it’s almost impossible to get a foothold in the market. Generation Z are finding it even more difficult than Millennials did before them. 

For those that do manage to save a deposit, the ‘affordable’ Brisbane suburbs they’ll be considering are home to the kind of properties that nobody else wants. From flood zones to industrial areas, and properties that have ‘money pit’ red flags a mile long, many first-home buyers are purchasing less-than-desirable homes just to get a foot on the property ladder.

"Formerly, these properties would be on the market for months, if not years. Now they're subject to bidding wars by cash-strapped Brisbane first homebuyers, desperate to find somewhere, anywhere to live. It's a dangerous way to climb onto the property ladder," said Andrew Mackintosh, veteran Building Inspector Brisbane.

The Real Cost

What is the true cost of buying a property with a raft of problems or potential issues? Buyers can protect themselves by asking the right questions. If a property is within budget, and the budget is modest to begin with, it’s important to understand why.

Here are some issues to look for when inspecting properties for sale across Brisbane.

Inspecting Properties in Redlands

Redlands has many homes that have been long-term rental properties. This may mean that overall maintenance has been sub-par due to landlords being reluctant to spend money on upkeep and repairs. Potential buyers should be aware of the history of the home and the possible problems that have gone unchecked for years.

Inspecting Properties in Logan

Logan has become an increasingly popular place to live. But note that proximity to beautiful bushland can also result in flooding, fires, pests, and drainage issues.  

Inspecting Properties in North Brisbane

It’s important to determine whether a North Brisbane property is on reclaimed land and check for mould, rot, and structural integrity. Additionally, if the property has been a long-term rental, ensure there are no hidden issues that the landlord has neglected to address.

Inspecting Properties on Brisbane Southside

With many suburbs in the area situated along the Brisbane River and in low-lying areas, it’s important to check for flood damage and the structural issues that can accompany it.

Inspecting Properties in West Brisbane

The western corridor is susceptible to heavy downpours so always check for flood damage, termites, and structural issues. Drainage problems can be a nightmare waiting to happen - and as beautiful as established trees are, their roots can cause issues with underground pipes.    

Get The Right Information

There’s no doubt that the market is tough for first homebuyers. But don’t let media hype or pressure from real estate agents force a rushed decision. Take your time, do your research, and enlist the expertise of an independent building inspector to ensure you have the complete picture of any property you’re considering.

Realestate

Commercial Conveyancing vs. Residential Conveyancing – What Are the Differences?

Navigating the world of property transactions can be a daunting task, especially when it comes to understanding the nuances between commercial and r...

Brisbane Building Inspector Calls For Greater Industry Regulation

Veteran Brisbane building inspector, Andrew Mackintosh calls for better regulation of the industry in light of worsening conditions for buyers. In...

Next Generation Stares Down Brisbane's Housing Crisis

In Australia, housing affordability is at its lowest level in three decades and for first-home buyers, it’s almost impossible to get a foothold ...

Can the Government Take Your House? Queenslanders Facing Darryl Kerrigan-style Fights

Disclaimer: This article provides general information explaining complex legal concepts. Please contact Butler McDermott Lawyers for legal advice...

Real estate agency & auctioneer chosen for 2022 House for Life

Plantation Homes and Mater Foundation have teamed up with multi award-winning Coronis Real Estate agency to drive and manage the sale of the 2022 Ho...

Overeager Boom Time Buyers Face More Than Just Rate Concerns

The south-east Queensland property market has been experiencing a period of upheaval for several years. High volumes of newcomers to the region have...

Buyers are showing a willingness to act early to navigate restrictions

The resilience of the market during lockdown has been a welcome good news story in  otherwise worrying times. Clearance rates have been holding f...

Buyers remain engaged despite lockdown

Lockdown has set in and agents are prepared. Adaptation is becoming the norm and it’s  working, as buyers remain engaged and properties are trans...