Finances permitting, we would like to buy our 3rd ip next year. We have two currently that are far from positivly geared, so would be looking for something that is not going to cost us too much by way of cashflow. Perhaps thinking about the Gold Coast – Brisbane corridor. Does anyone have any thoughts – perhaps we have to go a little further out still????? Has anyone had any good buys lately?
The Qld market is generally very tough at the moment, regardless of where you’re looking at. I dont think you’d see much action from an investment property bought in Qld for a while but buying in the GC-Brissy corridor would put you in good stead for the long term. [suave3]
Maybe you could pick up something for a really good price off an over-extended vendor. They’re really starting to come out of the woodwork now. Good luck with your search and keep us posted as to how it works out…G7
Thanks for the post Shelley.
I am returning to Brissy from the US in November and am looking to buy an IP. I’m also looking at the Gold Coast right up the GC corridor.
I will watch this topic with interest…
Cheers,
Batts
Hi guys,
Buying my first IP recently i didn’t want it to be far away from it i bought it here near where i live. I am doing some research where to go next , looking for my second purchase. I agree with g7, GC Brissie corridor would be maybe the best option or even Brissie – Ipswich. Please feel free to add comments.
Yasmina
Thanks everyone. Yes, I just keep going back to Beenleigh. You can still get a Beenleigh townhouse for around $120K to $130K with quite reasonable rents. It is still a little bit of a dodgy place, but getting better. Look at Labrador on the Gold Coast, that used to be classed as dodgy city 20 years ago, now it is booming – or was at that last boom.
Funny how things go – I heard about “the GC corridor” when I moved into Logan 21 years ago. (Each generation of RE agents must have been schooled on the phrase)
Finally it MIGHT be coming to fruition. Certainly the GC highway is top quality (4 lanes each way, and smooth as a billiard table).
Whether or not this translates into “NOW is a good time to buy” is beyond me. It sounded good back then but 21 years is a long time….
Many “advisers” have been selling into the corridor over the years – how’s everyone doing?
My concern over all that time is the availability of land in and around that whole area. But now time has now passed, and maybe today things really are getting better.
The more land is sold, the less there is to sell. So, sooner or later, there WILL be a land shortage in the corridor – and then anyone holding an acre or 10 will make some serious dough.
Good luck with it all,
Benny
I live in Nsw but worked interstate for 2 months in Ormeau earlier this year. Ormeau is roughly half way between GC and Brizzy and while working there I noted several interesting facts.
1.First thing is the peak hour traffic into Brisbane is real bad. Four lanes means nice flowing freeways. However it all comes to a grinding holt more then 10k out of Brisbane. Ive seen it first hand. Not to mention I work for a transport company that runs any AM deliveries into Brizzy 2 hours earlier to avoid this headache.The whole corridor relies on this one access route. I would only expect it to get worse as population grows.
2.The industrial estate where my company operates from (lahrs rd), they were one of the first there. There are construction sites everywhere at various stages. With an even larger number sites up and operational. Talking to locals appears that this area will be a mecca for industrial sites Due its position in the corridor.
Also noticed that Carlton United Breweries was 1 min across the road. It was huge.
3.Appeared to be considerable number of industrail areas along the road from Brizzy airport to Ormeau. Every town was flanked by business’s. With plenty of infrastucture.
4. In terms of national transport and our Business, the corridor is well placed, it sits halfway between Cairns and Sydney. ( Theres alot of produce transport work in the top end)
5. Ill finish by again pointing out that the corridor is serviced by 1 road. I would rate its traffic snarls similar to Sydney at peak, However the corridor is massive! With potential for heaps more growth. God knows what the traffic will be like in 5 years. Definitely not this place to live if you work in Brizzy…
ThommoJust to add my 2 cents…
The ‘GC Corridor’ was where most of the ‘2-tier’ marketing to interstate buyers was done. 10 years ago people bought vast lots of new housing after being flown up from Melbourne and Sydney for ‘free weekends’. High pressure sales and nasty tactics resulted in a lot of people owning RE that has only recently reached its sales price again – before that many were sitting on a $50,000 loss. Why? Because they didn’t know anything about the local market and didn’t get a proper valuation.
The industry has been cleaned up a lot by the QLD govt, but I’m sure it still goes on. I’m not saying don’t buy there, but I am saying do your research and get independent opinions and valuations.
People have short memories but 10 years ago much of this area had estates full of empty homes.
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We all need somewhere to live – but do we all need a CBD apartment?Hmmmm, very interesting. Thank you. It is always great to get other opinions isn’t it. Lot of food for thought.
Thanks again.
Shelley D
There are still other areas returning 6% plus on purchase price with good prospects for CG. Alice Springs is one if looking for the long term. Or are you intent to stay in your local area. If this interests you check out the web sites of Elders, Ray White, Raine and Horne, Westons in the Alice. I just saw a block of one bed units reno complete with a 9% return sell in the Alice. All units were leased. Elders done the deal. Deals like this appear from time to time even in the current market.
Bradshaw
Hi all,
According to a recent Matusik paper herein are some information bits n pieces that may be of interest.
1. Qld’s population grew by 77000 people to end of March quarter of this year. This equates to a need for 30000 dwellings.
2. According to ABS 1000 people still move (and stay) to Qld each week.
3. Massive jobs growth in Qld – to the extent that the state is punching above its weight.
4. Qld residential market is moving to an undersupply situation again.
5. Vendors are holding off listing properties for sale hence the ‘perceived weak’ market being touted in media.Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958From Australian Property Monitors via Cracker
Sydney Edition 29 September 2005Week in Review
Grand finals and long weekends always have an impact on auction listings during this time of year – a time when listings normally fluctuate wildly.
What is also fluctuating wildly is the clearance rate on the Gold Coast, which hit its all time low since we have been monitoring the area of four per cent.On our records, and I am not just talking auctions, the South East Queensland market has been looking shaky for some time now. I have included in this newsletter (below) two pricing charts that cover houses and units in South East Queensland. The data behind these charts are based on valuer general sales and agent reported sales reported to APM.
In my opinion, the information presents a picture of a market that is now heading south for property prices; in particular unit prices.
I think another item worth noting is how highly correlated the three markets are with each other. Basically, housing price movements in the three regions have been running in tandem with each other since the series began.
The flip side to all this though is that it could be a good time to buy in the area given how depressed the market is.
Louis Christopher
Research DirectorSo there you have it. Prices are falling and will continue to fall, therefore it’s probably a good time to buy. LC’s opinion, not mine.
Regards, F.[cowboy2]
Hi Foundation,
Tis interesting how two research groups come up with different perspectives.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958In general, I think real estate agents tend to have a fairly short term focus. Demographers tend to have a long term focus. Both have a tendancy to fall into the modelling trap of using variables that can only result in rising or falling trends, not both. Thus, recent changes are projected into perpetuity. Only the magnitude changes.
On a side note, as a southerner, I was pleasantly surprised by Brisbane last time I visited. Clean, friendly, beautiful sunsets and nights. That’s all I’ve got to say about that.
Cheers, F.[cowboy2]
Well at least they both agree it’s a good time to buy, albiet for different reasons.
We have been looking at the GC corridor for some time too, although our main focus has been in Perth WA, and as alot of us agree, there is a lot of merits in Qld so we have been exploring area like Ipswich-Brisbane and just completed a project there where instant equity was made because they were priced and positioned well.
We are currently exploring Crestmead-Logan City and there is a whole heap of merits there for new house and land packages.
Happy to help.
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
Hi,
Have you considered units in the Brisbane CBD. I think there may be some good buys.
hrm
Ipswich is the go !! Flinders View has some nice low maintenance houses with the RAAF base only 10 mine drive away.
AJBS
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