Park Ridge QLD, 4125

I bought 4 units there end of 2013. Even though the values have only increased by ~$30,000 each, the rents on each have increased by $55 p/w each.

Regarding growth corridor. It is a smaller one than Gold coast to Brisbane corridor but still has a ton of future potential.

Hi SM,
Let me reply to some of your posted comments :-

Because in Sydney, most of the Real Estate agent who markets the affordable H&L package promotes Park Ridge all the way up everyday,

If they are offering free flights too, RUN A MILE !! This kind of “greenfield estate” at Park Ridge is also the kind of development targetted by marketeers who promise you the world as long as you sign (and they will likely also have solicitors, finance, etc all at the ready for you too). Be very careful of that kind.

If these are ordinary RE agents who are not pressuring you to “sign”, they are likely OK.

According to my friend who bought it last few weeks ago, it was a profitable deal that is once in a lifetime due to:

Hardly “once in a lifetime” for mine – this area is basically rural land that is being developed to build Brisbane’s next “super city”. Yes, there will be lots of houses for sale – land is freely available (except for Govt manipulation). The block sizes and house sizes (2bd on 313m2 of land) don’t seem to be a steal at a $300k price tag to me. But about right for these times perhaps.

1. For approximately $301k you get H&L package, considering the second stage is $400k, so it is surely a capital gain increase.

When is next stage commencing? Two years, three? Five? The idea sounds good – but if too many developers build too many new homes on too many tiny blocks in Park Ridge, prices are not likely to be looking at $400k any time soon.

2. Land size is 313 sqM (doesn’t matter as long as it has a land component, then it is always appreciates over times).

True – it is likely better than an apartment. And this size might well be the “quarter acre of 2020”. But, while one can still buy second-hand 3bd, on 700m2, with the potential of adding equity via reno for less than $300k (and in a nearby suburb), my money won’t be buying new in Park Ridge any time soon.

Have the promoters mentioned a likely rental rate at all? You would probably want $400/wk minimum, and again, I am not seeing that for a 2Bd place in that area, even though new.

Benny