I am looking at purchasing some property ( reno & hold for three years) in WA, QLD or Vic and would like some opinions and help on the following as I do not know the areas all that well.
1) In WA I have narrowed down my searching pricewise to areas of Rockingham and surrounding suburbs or areas up north of Waneroo/Merriwa/Joondalup etcc and would like to know whether anyone knows any adverse reasons they would keep away/ or positive reasons to buy.Do you consider these areas ripe for renos/are they popular etc….
2)in Vic I am looking at areas such as Laverton, Weribee in particular and also Sunshine, Epping. Any help would be good, ex what are these areas like ,popular, drawbacks …
3) In Qld I have already invested in North Lakes (Mango Hill) but may invest further but would like some opinions on areas such as Deception Bay, Morayfield, Caboolture, Redcliffe, Redbank, Beerwah, Rothwell, Tin Can Bay,Seaforth, Laidley,Beenleigh,Scarborough. Any opinion would be helpful to me and others about positives and negatives.
Many thanks
MichaelMost of the areas you mention in Qld are ok they are outer Brisbane or Logan city locations for the most part. All are experincing strong captial growth. They are predominantly working class areas with good rental demand. Tin Can Bay is near Hervey Bay and this area is rapidly growing tourist area, Whale watching etc.
Rainbow Beach is also another nearby area that is growing well due to it’s proximity to Hervey bay.
Scarborough is near the city of Redcliffe and this is the star performer in the South East corner at the moment as it is near the water. Growth has been very strong and prices have more than double in the last twelve months.
Rental demand is also strong as many are moving their for lifestyle changes.
I would be very wary of beenleigh it is close to no where and has declining industrial base, it has a railway line but not much else.
Australian Bureau of Stats also shows declining population not good for rental income.
Hope this helps.
Davo70
Thanks, much appreciated
Both of the areas you are talking about South and North of Perth have gone through some good growth in the last 12 months or so. In particular Rockingham still has a lot of old holiday houses that can be renovated. This area of Perth (Mandurah) included has been growing at a phenomenal rate. The added bonus with rockingham is it is a beachside subburb, freeway access and the Navel Base is close by.
In the north Merriwa was a low cost introduction for first homebuyers a few years back, it has a high concentration of Government housing, and used to have a very high crime rate. Still has close location to beach, and prices have been rising due to developments in the area. I would look at merriwa as a property rental not renovation as such.
These are only my opinions, but depending on what you are looking at spending i believe there are better subburbs waiting to grow to their full potential.
I would be intereseted in what other people would have to say on the topic also
Cheers
Darrenthanks for the advice,
the reason I chose these suburbs is beacause they still seem relatively low priced for a Sydney sider like me, but I realise that prices have shot up recently. I also wanted to chose areas next to the seaside. Am I looking at the wrong regions ,better value elsewhere?
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