Attention Brisbanites we need your advice!

Hi Everyone!

We are looking at purchasing our first property. We will be spending approx. $450-$500k. The house will be our PPOR for at least two years, and may then be turned into a rental (but could also stay as our PPOR for quite some time depending on work). We have two small children and a dog, so are looking for a relatively family-friendly, safe area, and as big-a-house as we can afford.

We currently rent in Chermside (approx 10lm north of Brisbane CBD), and like the surrounding suburbs (e.g. Wavell Heights, Geebung, Aspley, Carseldine, Virginia, Kedron, Stafford, Northgate – Chermside itself is a little busy). But we also like the Redcliffe Peninsula (e.g. Redcliffe, Clontarf, Margate, Scarborough, Woody Point – and even suburbs on the south side of the bridge – e.g. Deagon, Sandgate and Brighton). The suburbs closer to Chermside are generally more expensive (mainly due to their proximity to the city and amenities), so we could get more house for our bucks up near Redcliffe, but we both work close to the city, so the Chermside-surrounding suburbs are more convenient (and I believe that they may rent better – but if anyone believes otherwise, please advise me about your thoughts).

What are your thoughts on these two areas – for ease of living, capital gains and rental yield? Do you think the Hornibrook Bridge Development will change the value of property around Redcliffe? What would you do if you were in our situation? We are relatively new to Brisbane, and so we feel a little overwhelmed with the decision. Is it worth buying a Residex report to help with the decision?

Thanks in advance for reading this long-winded question, and for any advice you may have!