Hi, i'm looking at buying a townhouse at Burpengary Qld for $300,000.
Seems like a good complex close to rail and shops and the highway. Wondering if anyone knows about this area and can tell me if $300,000 is a reasonable price for a townhouse, 169m2.
I know that they are thinking about building a marina at Burpengary.
Hello Opportunity in..
I would need to know a whole lot more information to know if this town house is a good price and can not comment if this is a good investment or not. A good due diligence review should give you a good feel.
I can however comment on Burpengary as an investment location. I have owned an IP in Burpengary for the past 7 years (18 months as a primary residence). It has given me a 50% growth in rental income and has delivered 150% capital growth over that time. (I did however do significant work on it myself in primary residence days). Obviously past growth is not necessarily any indication of future growth.
Burpengary has the strengths of a solid working class suburb. It has great commuting links (rail and freeway especially now that the freeway is 3 lanes each way from Burpengary to Brisbane). Good shopping with a minor shopping centre in the suburb (includes a wollies) with major shopping at Morayfield (5 minutes north) and North Lakes (10 minutes south). There is signigiant employment opportunities for possible tennants in the local area with lots of strip shopping and industry within a 10 minute drive both north and south. It is also within 30 minutes drive of Coloundra and great beaches. The suburb even though starting to age a little is well done with large blocks of land 800 to 900 m2. Prices being achieved are higher that Morayfield or Caboolture but are significant less that North Lakes (newer to the south but with significantly smaller land content 500m2) so some ripple effects may occur from that in the future.
I think it has the fundamentals of a good suburb
Good luck with your due diligence.
Wow thanks for you reply. So the area seems to have all it takes to support a good IP though.
Thanks Again.
Check out the Caboolture City Council web page re the redevelopment of the foreshore at Beachmere – that's even closer than the Sunny Coast from Burpengary & looks like it will be a lovely community area soon. Those types of community areas will be an added attration to surrounding suburbs like Burpengary also.
A.I like your thinking, but does Beachmere have a rail line? I'm not sure that it does.
Yes that is a great project in Beachmere and the Council has plans to spend a further $2.2 Million on upgrading the town centre there.
Its a bit more on the sunshine coast side as you say where as Burpengary is more in between Brisbane and sunshine coast another 20 or 30 minutes or so.
No rail line at Beachmere – I think there is a bus connection to the train station at Caboolture (Bribie Is – Caboolture bus service I think?). I guess it would depend on the pay off between affordable beachside living vs trains & ease of transport (similar to Redcliffe area – no train line but still very liveable area & attractive to young families). Just my thoughts!
A.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
