Brisbane $700k budget

I am relatively unfamiliar with Brisbane and looking to buy a house with good CG prospects with a budget up to $700k (maybe slightly more) which areas would people in the know suggest to look for a good buy and hold? Thanks

 

Hi Dave,

That is a broad question. I searched Brisbane greater region and I get 667 results for 4br+ houses between 600k and 700k

What's your criteria apart from the 700k spend? Such as:

• What rental yield should the property be?
• What sort of cashflow are you comfortable with? Are you ok with -ve, neutral, +ve cashflow? (really comes down to your risk profile & commitments)
• What sort of location will tick your boxes? Should it be near shops? schools? train? hospital? Or are you okay with in the middle of suburbia (I personally don't like properties smack bang in the middle of suburbia. Convenience is important for me (and for tenants))
• Look at Brisbane City Council (broad I know), within 5-12km of CBD where you would get better demographics and almost anything in your budget. Brisbane is much cheaper than Sydney as you can appreciate.
• When considering an area look at the spending in the area - private investment, commercial investment, infrastructure going into the area

Have you considered spreading the risk and purchasing 2 x $350k. North Brisbane (Moreton Bay City Council) will allow you to purchase with a 5-5.5% return.

Where have you looked so far?

 

Thanks ms Ali,
In reply to your questions.
Not overly concerned with rental yield, more after CG.
Yes want the obvious drivers in place at a suburb level eg proximity to transport and facilities. But more looking at a regional level at this point before fine tuning.
No keen on cheaper prop, prefer one more expensive to two cheaper.
Thanks

 

I have broadly looked inner south and east of city bayside suburbs.

 

I guess in short, I am after quality areas with strong demand from owner occupiers, where the market hasn't already run too hard....

 

Hi Dave, my suggestion would be for you to browse through the forum (there is a thread on Brisbane) and see where people are buying in your price bracket. I highly doubt anybody will post here to say where you should exactly buy, as they may still be buying there.

 

North Brisbane is nice. Could go Kedron for 700k.

 

Gordon Park, Kedron, Everton Park, Wooloowin, Windsor, Stafford, Albion are all very close to recent injection of billions in road infrastructure connectivity to CBD, airport and North Coast

 

We have properties in Wynnum and Enoggera - both purchased just under your budget. These areas would be worth looking at.

 

..this too is what id be lookinh for. However, a lot will fit this criteria. I would seek 4-10 km from cbd with 700k. Get outta the high supply apartment zones.. Id probably seek innet east or inner south for more established proven cg with room to move on cg front. Inner north is simialr but probably not as gentrified as inner east/south..however improving. Inner west is good but already expnsive eg toowong and auvhenflower.

 

Yeah I love the prospects of wynnum and already own there. The more research I do, the more I am focusing on mainly inner south now.

 

Toni bell -Tonibell, post: 136548, member: 36"]We have properties in Wynnum and Enoggera - both purchased just under your budget. These areas would be worth looking at.[/QUOTE]
Tonibell excellent locations as well...High tenant demand and lots of owner occupiers

 

I suspect may struggle more with CGs in Moreton Bay.. It's getting far

 

There is a bit happening around Petrie, Kallangur ...

 

If you want to go down the two dwellings route you could find 2 in Deagon.
That's BCC LGA

 

If I had that to spend I'd wait for the next LMR block to pop up in Moorooka and pounce. Still looks to be very good value. Overall much of the 5-15km radius from the CBD looks good for that budget. South i particular IMO. Get the biggest house on the biggest block you can.

Alternatively, split it between two in the $350k range, maybe one up north (follow the train line) and one south (follow motorway).

 

Agreed, the south and wynnum has been doing really well for past 12 months while the median for Kedron hasn't changed. You could buy really well for 550-700 in Kedron

 

For long term CG and potential, I would look at one of the blue chip knock down rebuild suburbs and get a crappy postwar on a good street (high side) and decent block of land eg Bulimba, Wilston, Paddo, etc

 

Or go Wavell heights