Hi all, We have our own strategy, however the in laws are looking to buy something low maintenance for $410k max in suburbs of brisbane They obviously need cap growth as they will retire in 10 years. So what are people suggestions based on their price budget. They live in bris. Cheers
Are they looking for house, unit or townhouse? I've been searching for a while for a couple of friends, and more recently for our son. I look locally because that is my preference (Coorparoo, Camp Hill, Holland Park, Greenslopes, Mt Gravatt). There are plenty of units for low to mid $300K, some townhouses for $400K to $500K but when it seemed the better townhouses that gave off good rent were getting up towards the price we could get a cheapie house, I started to look at houses. Our son ended up buying a house for under $500K in Mt Gravatt. Rent return isn't as good as some of the cheaper places, but it is in a street with money being spent already, the ability to make an extra bedroom if required, ready to rent immediately. I'm sure there were plenty more under $500K but this just had a few things that made it easy to choose.
Hi there, Certain areas of Brissy have a risk of oversupply and the lenders are telling us this. Stay away from FV and West End. Be careful with Chermside and Mount Gravatt due to oversupply. I do like Sherwood and also Mitchelton due to the army barracks providing demand for one bed apartments. Should still be able to achieve a return of 5.5% for the investor however do your due diligence up front. Cheers Ivan
Hi @Redwood, Thanks for the insight! Other than Mt Gravatt, Fortitude Valley, West End, and Chermside (and obviously, let's bucket-in inner cbd aparyments too), where else in Brisbane have lenders warned of oversupply?
@wylie I think that's pretty good actually. It sounds like he's set up for decent CG and I really like how he has the ability there to manufacture some growth and increase yield through an extra bedroom. Nice one! what's the size of the land?
Hi there, I should clarify this is generally for the developer - I was in Chermside yesterday, absolutely nuts the amount of development going on, still cheaper than Mt Gravatt in ppsm. Brisvegas is going nuts ... Cheers Ivan
Has anyone recently bought anything within 10kms of Brisbane (house), and managed to get 6%yield (or more) legally??
There's an oversupply in Mt Gravatt, really? What type of stock? I was always under the impression it needed more of everything.
Thats what I thought but with a lot of high rise units there and some rezoning maybe there is more to come. It would most likely push the value of land up and free standing houses. Upper Mt Gravatt especially is a large hub of activity.
Apartments I can see. But I can only imagine demand for houses and townhouses increasing. It's a very desirable area. The areas surrounding Garden City are close to the top of my pick list for future growth.
Yes, its a major satellite cbd on Brisbane's southside and ticks one my macro DD boxes for attaining good CG. Greyghost, look for satellite cbd's and purchase in or a suburb adjacent to these hubs. I have had excellent CG over the past 13 years I have been purchasing in those type areas. As a starting point for areas worthy of further DD check out where the major Westfield Shopping Centre precincts are located and pan out to adjacent suburbs to those also. I hope this helps.
