As mentioned, Bribie, is north of Redcliffe, East of Caboolture. It’s joined to the mainland by a bridge which is about 1km long crossing the Pumicestone Channel. About 90% of the island is sanctuary/national park so all the development is limited to the southern part of the island. Most of the development has been on the channel (mainland) side and there’s been many canal developments in the last 15 years.

For many years the island was the mainstay of retirees and fisherman with weekenders. Now with all the new subdivisions there’s a lot more larger homes for those who want the lifestyle within commuting distance of Brisbane. The worst part would be the narrow road (and bridge) to the highway.

My inlaws used to have property there as well, so I’ve spent some time there. Great spot.

Rod.

Hi bluecat,

My previous reply was a bit brief, so here’s the full story.

As settlement was approaching, ANZ in NZ wanted me to open a NZ account for loan payments to come out of. The message I got from NZ (via my mortgage broker) was that I should be able to do that at any Australian Branch. Of course, when I went into my nearest branch (William St, Melbourne), they said “no you have to go to NZ to do that”. After I told them that ANZ NZ had told me I could, they rang NZ (Wellington Branch, I think it may be their NZ HO) who faxed the forms over. I signed them (needed passport for ID), gave them my email address and waited. A couple of hours later I got an email from NZ with account number etc, and details of how to set up internet banking.

So yes, it was unusual for them and yes, they were helpful people. Of course the key may well have been that I was able to say “ANZ in NZ told me I could”.

regards,

Rod.

You’re right there’s a lot of development going on around Deception Bay. The council has done a lot to clean up the image of the area.

However you may have missed the boat though, prices have already gone up by up to 80% in the last couple of years. Rents haven’t really moved though, so +ve cashflow is unlikely.

regards,

Rod.

I managed to open a NZ ANZ account from Australia, so it can be done. It’s probably best to get a NZ branch to fax the relevant forms to an Aussie branch then do the signature/identity thing at the Australian branch and get them to fax them back.

I didn’t bother opening a NZ account until just before settlement. It was easy enough to pay for lawyers, LIM’s etc via Australian Westpac Internet Banking or via Credit Card.

regards,

Rod.

Am I reading this right? $800K seems an awful lot to spend on a weekender.

regards,

Rod.

thanks Steve, I found the active topics on LH side just after my last posting.

Now I can’t find the Logout, I click on the “click here” at the top of the page but nothing happens.

Rod.

Fair enough,

we’ve got a few Enjo items, they work well.

Rod.

quote:

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Look at what Tourism did for Williamstown Vic.

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I don’t think it’s reasonable to compare Queenstown to Williamstown. The fundamentals are quite different. Williamstown has the full infrastructure and employment of Melbourne to support it in addition to tourism. Queenstown is much more isolated.

regards,

Rod.

Hi Matt,

There’s no need to rush in. As this is your first IP, take your time to learn the market before committing all your funds.

Instead of 5 or 6 IP’s straight up, you may be better looking at 1 or 2 (with 80% loans) and keeping some funds in reserve to cover vacancies, maintenance etc. It’s probably best to do as Pisces suggested and use an offset account.

Good Luck, you seem to be on the right track.

regards,

Rod.

Hi recovery,

I haven’t got any experiance with the UK market, but here’s another site for you:

http://www.home.co.uk/

regards,

Rod.