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QLD Brisbane <350k

Discussion in 'Where to Buy' started by Aaronjod, 9th Jul, 2015.

  1. Aaronjod

    Aaronjod Well-Known Member

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    Hey guys,

    Here's the criteria:

    Brisbane townhouse
    3 bed 2 bath
    1 car
    Still has some depreciation left in it
    5% yield min
    Good vacancy rate
    Close to a train station to get to the CBD
    Under 15km to the city

    Can't be in an area that floods e.g Rocklea

    I've been looking in areas like Mt Gravatt, Moorooka etc. think I might be stretching to get something 350k or under in these areas?

    I was tempted to consider Manly/Wynnum but they seem too far away. I realize they're on the water..
    Or even possibly Cleveland with their development @ Toondah Harbor?
    These places don't qualify for the <15km to the cbd.

    What's the deal with Calamvale and Sunnybank? Seem to be able to pickup a townhouse here but they also seem to be everywhere.
    Just a touch out @ 15km.

    Also looked on the north side at Chermside or Zillmere? I find the north side has worse roads in & out of the city, and can get quite congested.

    Where am I missing? Where should I be looking for short term CG to keep the portfolio alive and why?

    Thanks,
    Aaron
     
    bob shovel likes this.
  2. C-mac

    C-mac Well-Known Member

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    You might just get what you want in the Mount Gravette area for that price (minus one bedroom though!), but even at 350k it would be a stretch. Still, that area is largely owner occupied houses, a great asset for rental seekers, that'd be one of my picks for the areas you mentioned considering all of your requirements.
     
  3. Observer

    Observer Well-Known Member

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    What about the areas like Camp Hill and Carina? With the possible future busway extension those two look promising. Not sure if those two will fit in your price range though.
     
  4. Observer

    Observer Well-Known Member

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    Aaron, do you consider townhouses only or units as well?

    I'm also interested in the mentioned areas with pretty much same conditions that you have. However, I'm still not sure whether to aim for unit or townhouse.
     
  5. Aaronjod

    Aaronjod Well-Known Member

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    I'd prefer a townhouse. Ideally a house, but with a budget of 350k that's unrealistic. I feel the better CG happens closer to the CBD. A townhouse as opposed to units is better because you can't easily build more townhouses. Sure, some more will pop up but it isn't like a unit where a developer could come and build 50 and your hard pressed finding a tenant. I also think there is better demand for a 3bed over a 2.
     
  6. Coxy89

    Coxy89 Active Member

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    Moorooka or Salisbury? Pretty tough ask with that criteria.
     
  7. Azazel

    Azazel Well-Known Member

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    There's a huge townhouse complex near Moorooka, but I wouldn't buy there personally.
     
  8. strongy1986

    strongy1986 Well-Known Member

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    What's the obsession with 15kms?

    Yeah if your picking a run of the mill suburb then proximity will win

    Wynnum , Manly are realistically pretty close to Brisbane
    I think a bayside suburb 20kms out will always have the wood over a run of the mill suburb 15kms out

    Especially at the point Brisbane is at now population wise
    When the population is double what it is now it might be a different story (due to congestion / travel times)
     
  9. Azazel

    Azazel Well-Known Member

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    How's Frankston going?
     
  10. strongy1986

    strongy1986 Well-Known Member

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    ??

    It's going alright, had some good growth the last 12 months

    Frankston is 44kms from Melbourne
     
  11. Azazel

    Azazel Well-Known Member

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    In relation to their populations, would you say that's a comparable distance as Brisbane bayside?
     
  12. strongy1986

    strongy1986 Well-Known Member

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    I see what your saying but I don't think it's that simple. Brisbane's spread is still as big as Melbourne's. Just wait 15 or 20 years and people will laugh when old timers say how far away Manly is!

    In Brisbane there arnt any bayside suburbs close to the city
    Shornecliffe and Manly have median house prices of approximately 700k

    So they already have it over the vast majority of suburbs in the 10 -15km ring

    Not sure why people from Brisbane think they're city will be any different from what's occurred in Sydney and Melbourne bay/ harbour/ ocean side
    Ok it's not as nice in Brisbane but there is also less supply
     
  13. Azazel

    Azazel Well-Known Member

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    Hope you don't think I'm saying that.
    I'm just trying to clarify your Brisbane/Melbourne comparisons.
    And I think Brisbane is a lot nicer than Melbourne.
     
  14. C-mac

    C-mac Well-Known Member

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    Bayside could be worth a look for you, Aaron. Bit further than 15km but decent fundamentals.
     
  15. TyroneS

    TyroneS Well-Known Member

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    Hi Aaron,

    Whose your target market? I reckon you should be looking at the area first and determine the demographics first and find out what people want in the area, rather than choosing a townhouse.

    I'm seeing that some areas have a higher demand for houses than townhouses. So best to check that out first...
     
  16. Angel

    Angel Well-Known Member

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    I spoke to my RE agent this afternoon and he said my townhouse at Scarborough 180 metres from the beach is about $340k to $360K (3/1/1) No houses under $500K
     

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  17. Aaronjod

    Aaronjod Well-Known Member

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    I'm only going a townhouse because I can't afford a house. If people don't want a townhouse in the areas i'm looking then I'll look for another area. The way I see it is people would look for a house, then if they can't afford that a townhouse. Whats peoples thoughts on Robertson and Tingalpa? I realise some parts of Tingalpa flood.
     
  18. Aaronjod

    Aaronjod Well-Known Member

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    Obsession with 15 kms is in 20-30 years these places will be worth more than somewhere further away. Like what you said, when the population is double how are people going to get in & out of Wynnum/Manly? by boat? If somewhere goes up an extra few percent early on it can compound massively over 30 years. I take a page out of a fellow investor who invested in 3 places at a similar prices 30 years ago. Rockhampton, Ryde, and Keperra. Ryde would be worth 1 mil +, Keperra is around 420K and Rocky in the late 2, early 300s. They were all bought for 50-60k. Shame they sold the Ryde place 10 years ago....
     
  19. HUGH72

    HUGH72 Well-Known Member

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    Wynnum has a train line.
    I don't think those 3 had comparable prices 30 years ago if ever. I understand what you are saying but even if a similar amount was spent in each location they wouldn't be comparable if you look at historical medians.
     
  20. bob shovel

    bob shovel Well-Known Member

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    what about the pocket
    Rocklea, Archerfield, Acacia. 350k ish medians
    I am not familiar with the areas but they are surrounded to the north/east by suburbs with much larger medians. I am familiar with Inala nearby, drove around for work a few years ago