Hi Everyone,
I am planning to buy my first IP in Crestmead soon and was wondering if anyone else has already bought in this area and how they find it?
Or is there a better suburb not too far from Brisbane that is probably better then Crestmead. Ideally I am looking to spend under 300k for a house that is under 3 yrs old.
Any help or advice would be much appreciated.
I too have been considering Crestmead as there is a lot of new building going on and it is very close to Logan Tafe, Logan Hospital and Girffith University, Logan campus. My biggest reservation is the distance from the city is a bit further than I’d like….
how much can you rent these places for?[goatee]
Hi Noysee thats true it is almost 30km away from Brisbane city. Although I think it does have a bus service going directly to the city.
aaronwhittaker2003 – From what the local real estate agents whom Iv called told me, the average rent is around the $250 week.
Hi SK2,
I’m from Brissy and you need to make sure the specific location you are buying into. I’m not sure if you know the area or not but some of the outer suburbs of Logan can be rough. Average $250 sounds about right, but the further you get out of Logan central the cheaper would be the rent. You may want to try Property Value to see what the mean is for the area. I hope this helps.
Good luck hunting. [biggrin]Thanks prcbryce1 I did not know of the property value site but it is quite handy. I am probably less keen on Crestmead now and might start to look more at Runcorn.
Although according to the suburb snapshot at domain.com there has been a -3 change in Runcorn and a +5 change for Crestmead in the last 12 months.
Still not sure where to buy but but I guess I’ll keep researching!
Hi SK,
While price declines/stabilises are on record in recent months in a number of Brisbane suburbs these statistics only reflect the movement in the median price. Within each suburb there is property that will perform conosiderably better (and worse) than median price changes.
The other comment I would make is that such deviations really do pale into insignificance in the longer term. It is the longer term performance of an area that should be your initial signal indicating whether or not more research is warranted.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Thanks Derek,
Thats a good point and one that I had also not thought of.
Hi SK2,
We to have been looking in that surrounding area (approximately 20km within CBD) over the past 6 months. These were our findings (take them how you like).
– If you are after capital growth this area including, kingston, Slacks Creek, logan central and Woodridge have room to move.
– These areas are generally lower income and do have a fair bit of public housing, particulary woodridge.
– Estate agents in the area have indicated some problems with tennants paying rent. (This is more their tennant selection than anything else).
– Our prefered suburb was Slacks creek for the following reasons. 1) Slacks Creek is positions just across the hwy from Springwood, Daisy Hill and Shalier Park whish have expereinced growth. 2) there is pretty good access to all your shops, industrial homewares and transport etc. 3) Land size and value is a better than the suburbs west of the hwy.
– med house price is around 195K – 205K. At this point the right deal has not come through yet but we continue to search.
Regards
Mulder
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