Looking to buy an IP in QLD. Probably a 3 or 4 bed house in a good location, with good rental return and capital gains, between 250-300K. Does anyone know the best areas I should be looking at?
I’m from Adelaide and don’t know the state all that well.thanks
[eh]We’re investing in the Ipswich area at present with good rental returns. A lot of development is occuring in the area with Riverlink, Ripley Valley, RAAF Amberley extension, Willowbank industrial park, recently completed International Hotel and Aspire apartments.
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”we build & sell our houses mostly in the Logan City area which is about a 20 minutes drive from Brisbane City center & 40 minutes to the gold coast. another growth area is Ipswich as the qld government has nominated it as an area for future development.
being brand new ours are around the 300k mark, but if you want second hand you will buy cheaper (but have less tax depreciation benefits). you will also buy cheaper if you dont want 4 beds 2 bathrooms & double garage, but obviously you will get get less rent.
we dont rent ours out (just sell them on) but from memory the last rental appraisal I got was between $265 to $285 a week.
if you want any info on specific suburbs let me know & i will see what I can tell you about them.
Cheers Jeff
http://www.property.focusdevelopments.com.auSo you are advocating buying a new house in Logan which achieves a whopping 4.6-4.9% return just to get better depreciation?
I think that maybe a 2 bedroom townhouse with 7.2% return with less building depreciation but the same fixtures and fittings depreciation and actually covering its own mortgage might just be a better bet for some of the novice investors with limited funds available.
And guess what? Same cap gains forcast in the Logan area, but unlike house pricing which remains stagnant, there has been 9% growth in unit/townhouse pricing last qtr.
Sorry to burst the bubble.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!sounds good, do you have an example of a property that is currently for sale for us to check out ?
Cheers Jeff
http://www.property.focusdevelopments.com.auHello all,
You should look at some of the southern Cairns houses.
Whiterock or Edmonton have houses around $230 with rent for $250, you may pick up a bargain.As I have said before, we live up here and there aren’t any ‘bad’ areas compared to bigger cities!
Send us a message if you want more info.
[exhappy]Check out around Chinchilla in south-west Queensland – the prices out there have really started to move in the last 4-5 months due to the construction of a number of power stations in the area over the next few years.
You can pick up a good condition 3 or 4 bedroom place in town for mid 200’s-early 300’s and they are returning anywhere from $350-500 per week. Not bad for a reasonably sleepy little country town where the same properties were early-mid 100’s not so long ago.
While the boom has already well and truly started out there, there are still a few properties around with the potential for a great IP.
I hope this helps
sireltekae [king]
I am from Far Nort Queensland.
In a recent conversation Chincilla was mentioned to me as well.
I own a block of land at Forrest Beach and reckon it will be discovered soon. Prices are still very cheap.
Cyclist[exhappy]
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