Although I’m happily settled in Victoria for now, I don’t seem to be able to give up the desire of owning a piece of QLD. Anyone would give me advice on what they think is the best value at the moment up to, like, $500K? Or just tell me why I shouldn’t invest there? Thanks…..
Hi Vicgirl,
I am a fellow Vic Girl, but soon to be QLDgirl!!
We are shifting in the near future to Hervey Bay QLD. We feel there are some great areas in QLD to invest, and for instance Hervey Bay is currently extending it’s airport runway to allow jets to fly in direct from Melb/Sydney. That has got to be good news for investors.
I think it is very wise looking to QLD for investing. The Stamp Duty is heaps cheaper there also…
Good luck,
Del
vicgirl,
It’s a really broad question. I think there’s a few reasons to invest in Qld. As del said- cheaper stamp duty; the weather is also very nice usually; it’s lovely and green and tropical; prices are still on the up in places in Qld (although it’s debatable on whether to buy in a rising market); it’s having huge immigration- internal and external; it’s cheaper than Sydney and Melbourne.
But one could use those reasons to purchase in many places. If you want a piece of Australia, you could do worse than Qld. Of course, it depends on where you buy- 500k gives you lots of choices.
kay henry
I live on the Gold Coast and this area will always IMO attract the best CG. $500k buys a modern house 2-5 minutes drive from the beach. For investment bargains there are still 2 b/r modern units at Carrara for @ $180k returning $200pw rent. I can’t see them lasting long though, as that area is only 10 minutes to the beach and a bloody good buy.
Hi Vicgirl, We live in a CQ industrial town and have an IP here that breaks even but population is growing fast and the capital gain is good.
I guess where you buy depends on what your plan is…. Capital gain or +ve cash flow.
From what we have found capital gain is good (obviously) where the pop is growing – supply and demand – generally in the South East corner – Sunny Coast, Gold Coast, Brissy and the respective hinterlands and anywhere else near the beach.
+ve IP’s anywhere near a mine – Emerald, Moranbah, Collinsville, Nebo etc. Some of these towns are screaming for investors to house the workers coming to town.
Search the net for info about some towns and you should get a good idea. Find out where the QLD Government is spending money.
One place I am looking at is a small mining town, 1hr from a major regional centre MRC & beach, heaps of new mines are opening within 1/2hr from it and the QLD Gov has just announced a major road upgrade to the MRC.
My only problem is money!!![blink]
Matt[medieval]
Matt
Qld market is currently booming, however a great deal of pressure is being placed upon its resources. I was reading today that QLD water supply is even lower than NSW’s. I predict the QLD market will continue to rise only in the short term and then my dear friends, look out.
Hi and thanks for the fantastic tips! Ideally I would like a beachside unit that’s in the holiday pool, so we can use it a couple of times a year. My searches show that it’s possible to buy two for that sort of money in low rise developments or one in a highrise. I’m looking at one on the Broadwater, the other one is on Broadbeach within walking distance of the convention centre. Thanks for the tips on the other areas, I’ll check them too…good luck to all of you….The mining towns sound good too…I’ve heard of Port Hedland as a positive cashflow area also for similar reasons…
Some parts of South East Qld might be booming, but I presently have a house at Jimboomba (40 mins to Gold Coast, 40 mins to Brisbane), and from the information coming from the R.E. agents it has gone into a real slow down, very few enquiries, very few sales, whereas 12 months ago there were not enough homes to sell.
I also have a home inner city Brisbane which is presently increasing in value and the agents are always bombarding us to be listed.
So I would hazard a guess that this slowdown has already started to hit in these outlying areas.[blush2]Port Hedland, Karratha and Kalgoorlie, all in WA.
All mining towns, with ongoing mining operations and very high rents…I agree, there is definately a slowdown. However there are still good deals and good areas out there – you just have to find them.
The QLD population is growing quickly, this increases the demand. Like I said, you just have to find areas wiith high demand, low supply.
KP is right I reckon, mining towns are the go at the moment. A couple of property funds I checked out were investing in caravan parks in WA mining towns. They had a mix of mining residents, people on holidays, permanant residents, cabins etc.
Anyway I am rambling but I see a lot of money going to these mining towns in the future.
Matt[medieval]
Matt
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