QLD Brisbane investment $550k

Hello!

Helping my sister out to purchase a property. She’s on her own and has approval for $550k. Realising this doesn’t go too far these days. She wants the IP for capital growth - north side. Preferably Geebung, Banyo, Keperra - Would love suggestions on best investment choices for a house North Side with that budget. Would I be more likely to find this through a BA?

Thanks!

 

Check out deagon near sandgate

 

She won't get into those suburbs now unless it's a 2bed total renovator. She won't get into deagon either unless it floods. The only site that reflects true current median values of suburbs is onthehouse , real-estate.com etc are way out of date. Current median value in bald hills is 560k so she might squeeze in there (I just bought there) but not for long, any thing south of that is out of her reach. Maybe she can get into Clontarf area. I'd be looking at Murrumba downs, Bray park or Petrie as she can prob still get ok yield

 

https://www.realestate.com.au/property-house-qld-clontarf-136586610

this one may suit, dont waste $ on BA save it for the reno unless you see compelling value

as mentioned by other poster have a look around

https://www.onthehouse.com.au/property/qld/deagon-4017/nearra-street

seems fair value and check the flood map for deagon, its well documented and some houses are clear.

 

I don't think for $550k she can get into any of those suburbs and if you do its going to be a full fixer upper.

Move up more into Bald Hills/Bracken Ridge (you may be lucky around these areas although its hard even now). Otherwise move further up towards Petrie/Kallangur/Lawnton/Joyner, Bray Park etc...

 

Petrie/Kallangur can get you a decent sized block which is immediately tenantable. Bracken Ridge and Bald Hills are creeping out of range at this point.

Something to maybe consider would be a unit in a low rise or townhouse less than 5km from the CBD (thinking newmarket, lutwyche, wilston etc) which comes as part of a decent land component. Will readily secure tenants and based on Syd/Melb, could experience decent growth once people start getting priced out of houses.

 

if you want to make $ avoid Units unless its a absolute gem or you are getting a bargain. Strata costs, restrictions and usual body corp mess is something you can indulge with one in your portfolio to remind you.

I feel there is plenty value left in the sea side areas around brisbane which have not really appreciated much relative to their position. Deagon, Sandgate, Brighton and surrounds have plenty of legroom and limited supply.

just my 2c. and yes you can get a decent place for 550 to 600 if you look hard enough ...

 

There are a range of suburbs in the Moreton Bay region for your price point. Some have been mentioned already (Kallangur, petrie). This may be your best bet if you are price out of your listed suburbs.

 

i am looking at another one in deagon and many places are marked as flood prone

Flood Wise Property Report

would this report worry you ?

 

Yes I wouldn't touch it. It basically shows the properties lowest point is below the minimum habitable level (so built prior to the flood reports). Also it is at a high risk of flooding. Remember that in a flat market properties that flood are a lot harder to sell and you also pay an insurance premium... property is a long game.

 

Good on you, Lisa! This link can be very handy if searching properties in Moreton Bay council

My property look up

 

Hi Lisa,

Deagon has brilliant potential if your sister is able to find something in her budget. I would highly recommend a visit to the Shorncliffe/Sandgate/Brighton coast line so she can get a feel of the 4017 community. It’s beautiful and is a real gem of Brisbane.

 

i was able to buy a place in deagon for a similar budget but the place was marked as flood prone. I did my investigations and belive its ok as the block is on a slope and the house is on the top of the Slope.

Floods qld [QLD]

a bit more detail here

 

Looks steep and undesirable (sloping to the back). And so close to flooded zone, I’d avoid…

 

I understand but its in deagon and right now there is nothing you can buy around that price. this is not prone to river floods its more storm event driven from the ocean. Its a calculated risk...

 

I just saw the listing, the house looks decent for the price. Actually not too steep since it is a long block to the back lol, 60.8 m

I can see why you see the value there…

 

its not that one its 2 houses next to that and is even higher than one.

 

Ohhh my bad.

Anyway I hope it’s for PPOR, swimming pool in IP is a hassle.

 

https://www.realestate.com.au/property-house-qld-deagon-121992782



New Home and Land .... $520,000 - BRAND NEW HOUSE & LAND PACKAGE

 

Thank you - definitely will consider a townhouse too based on current house prices