Hi,
I posted on this forum a while back regarding investing in Perth and somebody came back to me with the idea that is may be more sensible to invest in Queensland or SA as Perth has peaked recently and capital growth will more than likely be minimal over the next few years. As I have never been to Queensland and this is my preferred place to buy, I am wondering if anybody can give me any information on suburbs around Brisbane that are on the 'otherside' of the growth suburbs or where I can source information for Brisbane that is similar to the REIWA site in Perth. I am looking to spend around $250K or there abouts. I will even look further out towards the sunshine coast or south towards the goldcoast or even coastal country areas. Anybody who is active in the Brisbane/Queensland property market who has any tips or info I would greatly appreciate any information. This will be our second investment property so I am still relatively new to the property industry but I find myself addicted already!
Cheers
NicoleK
NicoleK,
There are still some of areas where you can buy for $250K but probably more the outer areas of Brisbane. One that immediately comes to mind is the Ipswich area which is undergoing mega growth. Another forumite AmandaBS knows this area pretty well and has a good website 'property divas'. Other than that I don't of many areas off hand , that you can buy into for $250k and still get growth and returns.JTW
nothing in Bris under 300k, head out maybe
i wrote a whole bunch of stuff and when i went to post it , it didnt work. So briefly I suggest Caboolture and Ipswich
good lucknothing in Bris under 300k, head out maybe
That's a rash statement. I have just sold 2 x two bedroom units in South Brisbane for under $275,000 and two in Toowong for under $262,000. They are out there, but you do have to be quick.
Jon
houses Jon, houses
units dont count
Nothing worth buying under $300,000, units included within 30 kms of the city. You can always find units or townhouses in any capital with unfortunate returns and little growth prospects.
If you could find a 3 bedroom brick and tiled property on 600m2 of land within 30 kms of the city under $300,000 that you could get an immediate return of $250+ a week on you would be doing very well.
Finding areas of SEQ with promising growth isn't that difficult its getting a foot in those markets thats becoming impossible for investors.
If I had $250,000 to spend I wouldn't waste my time with the South East market those days are gone.
REIWA site is great you wont find the same thing at http://www.reiq.com.au best bet is to hit http://www.realestate.com.au best coverage in QLD.
That's a rash statement. I have just sold 2 x two bedroom units in South Brisbane for under $275,000 and two in Toowong for under $262,000. They are out there, but you do have to be quick.
Jon
Agree John,
Plenty around you just gotta be quick because everyone else is out to buy them!!
Yes they don't appreciate as well as houses HOWEVER……1.Units are a "foot in the door" if your budget is tight
2. Well located units and a tight rental market assure a unit will never be vacant
3. Yields are generally better than houses, helping cash flowDont be discouraged, I started with a unit, then sold for a small profit which enabled me to move on to a house.
Members on this site must be very carefull who they take advice from – they must also be aware of exactly what type of investment that they are looking for. Having only been a member fior a short time, I am beginning to see that the Forum headings should perhaps be altered to reflect the different styles of investing.
Are you a long term holder – A posative gear purchaser – A Developer – A Renovator, and so on. If this were done then the different styles of investment could be kept in one place and the advice given would not be so confusing to the people attempting to gain knowledge.
The reason for my comments are simple. I see so many people on this site looking for a get rich quick scheme, and good luck to them, I sure hope that they find one and share with the rest of us, however for those who wish to work a tried and proven plan, there needs to be an understanding of the methods and reasons behind the methods.
The first thing that should be discussed is are you looking for a Long term passive investment based on Cap growth or do you want to be a speculator and buy and sell. The majority of my comments and replies on this site will be based on the former rather than the latter. I am not interested in buying myself another job with risk.
So keeping these comments in mind, when I read comments such as the following;-
houses Jon, houses
units dont count
Yes they don't appreciate as well as houses HOWEVER……
I feel sorry for those members who are perhaps swayed by them.
Sorry Crashy – Units do count, and in fact, by and large,they offer a better rate of return on investment than houses within a 6k radius of the Brisbane CBD. If anyone wishes to discuss this, I am more than happy to show statistical proof.
While Houses do have a better cap growth than units the difference is far less than many uneducated people will have you believe. My opinion is about 1% and closing. The real difference is in the 10D allowance which houses in this area will not have. When people study the math the truth becomes plain to see.
Jon
Units vs land content. Within 6kms of Brisbane. Well the simple economics forget the rest . Supply and demand.
Is there any capital city that has not been impacted by an oversupply of units?
Land, is there any capital city that hasn't had price growth in houses due to a national shortage of land within 30kms of capital cities.
I agree take a step back from what you read on the site and consider everything in the context of the market and your own strategy.
In my area alone there will be over 300 units/town houses built in the next 12 months. Thats just the ones that will be built, not taking into account all the DAs that are already out there sitting in someones bottom draw. They are selling and off the plan. Not many local buyers though.
There are around 6500 established homes and virtually no residential (house) blocks available.
Supply and demand. I'm within 30kms of the city.
Land capitalises, so a very fundamental approach to investing is to obtain the highest land content that you can for your $.
Depreciation is great isn't? That's the value of your investment devaluing, becoming more worthless. Again very fundamental. Might be a great tax break say in the first 5 years but if you've got an oversupply issue to contend with too well back to basics isn't it.
I think the most important point take out of all of this is to develop your own investment strategy. You can only do that by having regard for the current conditions in the market.
Thanks for the kind words JTW!!
Yes, if you're after property under $300K then look no further than Ipswich. HUGE development is already underway with many more planned. The Ipswich city council is eager to encourage industrial business to the area, hence employment and people need a roof over their heads. The area is coming off a very low base and you should be able to pick up an average older style 3 bed timber home for $220k – $240K, or a more modern brick veneer for under $280K. The big colonials in Woodend, Eastern Heights and Denmark Hills start at $350K.
Hi
Regarding Ipswich again: Does anyone of you know about Flinders View?
Growth has hardly been above 0% ytd, which seems quite strange in this area.
Couldn't find any explanation for this…Thanks!
Cheers
ChrisJon
when we talk about "getting anything under 300k" we are talking about the average 3 bed house on a block of land.
to complicate the argument by trying to include 1 bed units with zero land content is beyond sense.
Im not interested in any argument debating whether units are better than houses. Land appreciates in value and the building depreciates. Your bias is obvious. You have a right to your opinion (and thats all it is) but when you make statements such as
"I feel sorry for those members who are perhaps swayed by them."
and
"While Houses do have a better cap growth than units the difference is far less than many uneducated people will have you believe. "
this smacks of arrogance and patronism. the members of this forum are the smartest and most educated of any other forum Ive been a member of. you catch more flies with honey…….
this smacks of arrogance and patronism. the members of this forum are the smartest and most educated of any other forum Ive been a member of. you catch more flies with honey…….
Crashy, I'm really not trying to catch anything, I am however attempring to help others who may wish to listen. Perhaps I do come across as a little dogmatic and for this I apologise.
I thought that members on this site were looking for ways to make money through investment (not just buy houses )and it was for this reason alone that I made the comments that I did. Prove me wrong mathermatically and historically, not by mere unsurported statements such as the following.
Is there any capital city that has not been impacted by an oversupply of units?
Where are all of the unwanted. unlived in units in any Capital city? Granted there have been moments of oversupply, however it is only momentry and the market soon corrects itself. The exact same arguement can be used with houses and in fact when I was selling in Capalaba in the early 80's there was in fact an oversupply and when we had the crash houses dropped in value by 30% (from $35,000 to $20,000). Try and find a cheap house in Capalaba today.
There are around 6500 established homes and virtually no residential (house) blocks available.Land capitalises, so a very fundamental approach to investing is to obtain the highest land content that you can for your $.
Im not interested in any argument debating whether units are better than houses. Land appreciates in value and the building depreciates. Your bias is obvious. You have a right to your opinion (and thats all it is) but when you make statements such asBoth of these statements about land value do have a degree of truth, sure land appreciates but Development land appreciates higher than residential house blocks and no matter what you say, units are still built on land and have a land value component. How much land tax are the land owners paying?
Hopefully, I do have a right to an opinion(and yes it is my opinion, but one that I can support with statistics).Depreciation is great isn't? That's the value of your investment devaluing, becoming more worthless. Again very fundamental. Might be a great tax break say in the first 5 years but if you've got an oversupply issue to contend with too well back to basics isn't it.
Depreciation. Ask many of the people who own a 100 year old house in the inner suburbs of Brisbane about who are no longer allowed to remove them and have to pay huge money in order to restore them. This council initiative actually reduces land value.
when we talk about "getting anything under 300k" we are talking about the average 3 bed house on a block of land.
WHY? Because you say so, or that's the way it was done in the past.
I am trying to share a different approach to investing for those who may be interested, demographics have changed the landscape and those who are prepared to look into the figures may well be surprised. But remember, I did say that these statistics only apply to property close to CBD.
Jon
I Agree with Jon,
Every investment that you make should be taken on it's merits, and what it will bring to your portfoilio,
As cities grow Land does become scarce, But remember not all land is equal,
The value of the land sitting under a 3 storey block of units, that has coucil approval for a ten storey development will be increasing more rapidly than the land under a hertitage listed home on a back street 6km's from the city,
Hi,
I posted on this forum a while back regarding investing in Perth and somebody came back to me with the idea that is may be more sensible to invest in Queensland or SA as Perth has peaked recently and capital growth will more than likely be minimal over the next few years. As I have never been to Queensland and this is my preferred place to buy, I am wondering if anybody can give me any information on suburbs around Brisbane that are on the 'otherside' of the growth suburbs or where I can source information for Brisbane that is similar to the REIWA site in Perth. I am looking to spend around $250K or there abouts. I will even look further out towards the sunshine coast or south towards the goldcoast or even coastal country areas. Anybody who is active in the Brisbane/Queensland property market who has any tips or info I would greatly appreciate any information. This will be our second investment property so I am still relatively new to the property industry but I find myself addicted already!
Cheers
NicoleK
OK,
To answer the question without providing any advise or bias.
250k based on price, closest to brisbane cbd -maybe look at the following areas:HOUSES-
SOUTH – Logan area Woodrigdge, Beenleigh, Kingston, sunnbank hills
NORTH – Redcliffe, Burpengary, Strathpine
WEST – Ipswich, Goodna, Camira
EAST – NOT SURE
UNITS –
SOUTH – Wooloongabba, Greenslopes, Coorparoo
NORTH – Chermside, Kedron,
WEST- Toowong, Taringa, Paddington
EAST – Morningside, Bulimba (maybe), BalmoralHouses will be older style maybe needing work
Units 1 or 2 at best bedrooms older styleHopefully I can post this without stepping on anyones toes – I don't have anything to gain from this forum, just a brissy local with some knowledge of the area
Hi Nicole,
As your post is about Suburbs in Brisbane, I can't see why you would be stepping on any toes. There is one area that I would add to your list and that is Houses and Units in Yeronga/Fairfield. The reason for this statement is that $70 million is being spent on the development of the new tennis centre at Tennison right next door. Mirvac have just released their first two towers and they have sold out in two weeks. It is difficult to not see a flow on effect from such a highly publicised event.Jon
Jon Chown wrote:Hi Nicole,
As your post is about Suburbs in Brisbane, I can't see why you would be stepping on any toes. There is one area that I would add to your list and that is Houses and Units in Yeronga/Fairfield. The reason for this statement is that $70 million is being spent on the development of the new tennis centre at Tennison right next door. Mirvac have just released their first two towers and they have sold out in two weeks. It is difficult to not see a flow on effect from such a highly publicised event.Jon
Hi Jon,
The houses in Yeronga/Fairfield seem very expensive. Nothing under $400K on realestate.com.au
Is it possible to find a old lowset brick house in the area for around 300K?
Hi Eternit,
The current pace of the market in Brisbane makes Real Estate.com almost useless as properties under $300K are mostly sold by the time that they are uplifted to the site. There are and I have sold in Yeronga for under $300K.As to your question – Is it possible to find a old lowset brick house in the area for around 300K? I would not expect to see one as the vacant land value exceeds this value, however you will find a two bedroom unit in this range. I have just sold a three bedroom 6 year old unit for $345K which returns $360/week.
Jon
Hi Jon,
I am interested in a lowset brick house on about 600sqm land. How far will I have to go to find a house under 300K from the Brisbane city?
Thanks.
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