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Brisbane $700k budget

Discussion in 'Where to Buy' started by Daves2074, 9th Jan, 2016.

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  1. Daves2074

    Daves2074 Member

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    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
     
  2. MsAli

    MsAli Well-Known Member Premium Member

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    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?
     
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  3. Daves2074

    Daves2074 Member

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    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
     
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  4. Daves2074

    Daves2074 Member

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    I have broadly looked inner south and east of city bayside suburbs.
     
  5. Daves2074

    Daves2074 Member

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

    MsAli Well-Known Member Premium Member

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    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.
     
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  7. Whitecat

    Whitecat Well-Known Member

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

    DiligentPM Well-Known Member Business Member

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    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
     
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  9. Tonibell

    Tonibell Well-Known Member

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    We have properties in Wynnum and Enoggera - both purchased just under your budget. These areas would be worth looking at.
     
  10. JDP1

    JDP1 Well-Known Member

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    ..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.
     
  11. Daves2074

    Daves2074 Member

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    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.
     
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  12. DiligentPM

    DiligentPM Well-Known Member Business Member

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    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
     
  13. Whitecat

    Whitecat Well-Known Member

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

    MsAli Well-Known Member Premium Member

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

    Whitecat Well-Known Member

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

    Steven Ryan Mortgage Broker Business Plus Member

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    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).
     
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  17. R377

    R377 Well-Known Member

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    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
     
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  18. Lacrim

    Lacrim Well-Known Member

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    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
     
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  19. wylie

    wylie Moderator Staff Member

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    I was thinking you will get nothing much for $700K so I looked on re.com. This is the listing "lowest to highest" for those three suburbs for houses. There isn't much for around $700k. I know Noble Street well and flooding is something to watch here. I'm guessing for that price in those suburbs there will be reasons they are selling for $700 (and don't mean to say it cannot be done, but gee that is a cheap price for those suburbs).

    Only three houses seem to be under that price, but fantastic if you can do it. I think you would need to look at lower priced suburbs, maybe Holland Park, Greenslopes, Mount Gravatt might be better.

    Houses For Sale in Bulimba, QLD 4171, Wilston, QLD 4051, Paddington, QLD 4064 (Page 1) - realestate.com.au
     
    Last edited: 12th Jan, 2016
  20. Whitecat

    Whitecat Well-Known Member

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    Or go Wavell heights
     
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