Hey folks,
Long time no post.
What are your thoughts about these places.?
I recently purchased up there and I am happy with that, but wantg to see what the "others" are doing to decide if I will go back and buy again.
Ta
Jenwren,
if you want reassurance buy a Residex future growth budget report for QLD houses. Russel, Macleay and Lamb islands get a mention.
Am a bit uncertain as to how well a property manager would manage an IP there-maybe you could share your experience? What sort of property management fees are you being charged?
Ajax
Prices around there are very interesting..some parts are exy, some are cheap….Russell for instance has huge price fluctuations, very volatile pricing. Macleay and Lamb, I hear, are good value…but just remember…island…..hard to get off and get on…
The way I look at these areas is:
Island Lifestyle (laid back, boat ramps, water everywhere)
Baby boomer retirement destination (close to relatives in Bisbane/GC but cheaper)
20 Minute ferry ride from Main land
1 Hour from Brisbane on public transport
Look at prices on stradbroke and coochiemudlo
Current infrastructure projects include 24 Hr policing and major supermarket for Russell.
70 years of rumours related to a bridge to Russell
Gold Coast city Council wants Russell Island back.
Anecdotal evidence suggests that things are appening too – just talk to some locals.I brought a hoiuse and adjoining block of land on coochiemudlo island one year ago, both together for under $400,000.
I've probably made a paper capital gain of around $60,000 in one year.
The reason for buying: sewerage now on the island, not many blocks of land left, lovely beaches and beautiful peaceful, non-commercial setting, baby boomers, seachange etc.
From Brisb. airport to the house its 3/4 hour travel time.
Absolutely all shops are available by a 15 min ferry ride and 5 min car drive.
victoria Point, redland shire is booming, huge new housing estates on the mainland with quite significant prices.
Rental management is excellent.
The only disadvantage, its an older house, rental return not that great, so it's fairly cash neg, but capital gain is outstripping the income loss.
I hope to build on the block for around $160,000, I believe rental will be around $320 and property value around $400,000.My girlfriend and i bought a block on Russell 1year ago for 35,150 and sat on it for a while deciding what to do.
After a visit to the Island (as were from WA and bought it off the internet on a whim), we saw how nice the Island is, anD after hearing of all the infastructure thats going on, ie police satation, new IGA Supermarket, outdoor pool and now a resort and golf course, we decided to build, and currently doing my Owner Builders course and building a kit house with Ezy Homes (plug there)!all for under 200k complete!
I would be pleased to hear what the rental market is, if anyone can help??
Cheers
ANDYandy4 wrote:My girlfriend and i bought a block on Russell 1year ago for 35,150 and sat on it for a while deciding what to do.
After a visit to the Island (as were from WA and bought it off the internet on a whim), we saw how nice the Island is, anD after hearing of all the infastructure thats going on, ie police satation, new IGA Supermarket, outdoor pool and now a resort and golf course, we decided to build, and currently doing my Owner Builders course and building a kit house with Ezy Homes (plug there)!all for under 200k complete!
I would be pleased to hear what the rental market is, if anyone can help??
Cheers
ANDYI would like to know more about your project as I’m planning to buy one.
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