Hi,
I have an opportunity to buy a 3 bedroom property in Inala. The suburb is 20kms South of Brisbane City and 3 bedroom properties are listed for high 200k/ low 300's mark.
My post is really to see if people are people buying in this area for investment? I did a forum search and several people were talking about it 6 months ago. RP Data had noted 25% growth for this year which I think is already reflecting the listing prices indicated above.
A house under $300k 20 mins from the city is tempting for future growth.
My concern with investment is rental return is $250/week so property would be Negatively geared. The property has a pool which may need work/maintenance. Also there was a murder in the street which was profiled high in local area just 6 months ago – not sure if it would turn off renters?
Thanks
JasonThere has been a stigma attached to Inala for a number of years, yet the shopping centre trades quite strongly. The area may not see the astronomical rises of other areas however I would expect that it will play catch up in the longer term. Review price movements over the past few years & projections for the next 5-7 compared to other parts of the Brisbane/Ipswich corridor.
There is not a wealthy demographic in the area but you should become more acquainted with it to see if this would fit your investment portfolio.
Inala often cops bad press, a murder in the street is just pot luck, the noise will die down within months (pardon the pun).
Thanks for the feedback
Saw these stats this morning http://www.reiq.com.au/MediaReleases/view_media.asp?media_id=422
i think i remember seeing that a large development company owned a large amount of land to-be-developed in inala. This might help to raise the profile of the area.
Inala, Darra and Logan are the 3 areas of brisbane with a bad reputation.
Persoanally I dont mind Darra – its got good rail connections (city 10 min exp), neighbours some middle class suburban areas, large blocks and you can pick up some timbre queenslanders/post wars with alot of potential for refurb. Although Darra does also neighbour areas like Wacol – which is pretty rough and industrial…
Inala on the other hand has mostly brick square shaped homes. I went for a drive around there a few months ago to check it out, and the types of houses reminded me alot of suburds in South Central Los Angeles. Houses there look like they are government built in the 60s. Very square, quaint, bagged brick homes – almost identical to each other. Most houses are neat and the locals are mostly house proud. Years from now its querkyness will probably become trendy.
Logan – for me it too far out. I prefer areas like Darra that are more accessible to the city and have some older homes. Despite all the talk, I honestly think it will be years before Logan comes good. Darra and even Inala will give better results I feel.
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