Brisbane - Investment

Hi,

I am looking to investment in a property in Brisbane. 3 bedrooms, 1 bathroom, 1 garage with a decent block (405m^2 +) of land around $700k.

Does anyone have any recommendations on suburbs, preferably in the Northside?

 

If you can fit it in the budget, get 4 bedrooms, over 600sqm land size and add value ability, perhaps a Reno in the future.

 

If you're interested in the Southside look at Holland Park/Holland Park West. I just bought one for a client there, over 70 people through just two open homes (Wed and Sat)... Huge demand and not getting any cheaper!

 

Windsor,
Wavell Heights
Clayfield maybe

 

For a 2 Bed Unit around the $350k mark:

Windsor
Or
Fortitude Valley

Guys?

 

Investment or to live? If the former, I wouldn't expect any capital growth and you may have difficulty lending at high LVR (Loan to Value Ratio).

 

Investment-wise.

Interesting. Does that apply to both areas?

Brisbane appears to be the city that seemingly just won’t take off, despite a lot of investors pedalling the city for some time.

 

Wilston in Brisbane makes for a great investment as it’s currently got a lot of stock past their used by dates which are getting knocked down and rebuilt from owner occupiers. It’s a gentrifying area which is only a stones throw from the CBD.

 

Entry level in Wilston is about $700k.. if it’s a nice flat block, with a view and a post war house that can be knocked down, it might be closer to $800k. Pre 1946 house can’t be knocked down.
My pick would be Alderley (recently picked as Brisbane’s most liveable suburb), or a nice street in Lutwyche

 

I'd be looking at land:asset ratio rather than land size. You would be lucky to buy for $700K in Wilston unless it is flood impacted. The most recent 405m2 vacant land sale (non-flood) in Wilston was $710K (56 Cramond St) and that obviously did not include a house! No views either.

 

25 cramond st sold for $660k not too long ago.. that was a bargain

 

That is correct ... I was at that Auction. The property is flood impacted (see screen grab below). The lower end of Cramond St on the Newmarket Road side is largely flood impacted and this decreases the value. With a $700K budget you won't get a flood free house in Wilston, but if you are willing to accept flood risk then you might be lucky ... but it may not be a rentable house. 25 Cramond St in its state at the time of purchase would not have complied with current tenancy laws in Qld. I went through this property. So an investor would need to renovate on top of the $660K purchase price to make it rentable.

 

Great insight.
I didn't realise this was flood affected and wondered why it went so cheap..
it could have been a very easy raise and build under project, with a nice profit but not really if flood affected

Edit; do you mind mentioning what the non-compliant (tenancy law) issues were? I didn't do a walk through of this one..

 

The photos look a lot better than the actual property presented. There was mould internally and the front stairs were not sturdy. Definitely needed some $$ spent to ensure it was rentable. The current owners have cut all of the trees down, built new front stairs and are gradually doing it up which is lovely to see. I've lived in the area for >20 years myself ... creek flooding has been more of a problem in Wilston in this time as opposed to river flooding. When it rains heavily at the same time a king tide comes in .... this area can flood very quickly as it comes across Downey Park, across the Newmarket Road / Kedron Brook Road intersection and then into the surrounding residential areas.

 

Just another update on Wilston ... the property at 21 Cramond St (listed) just sold at Auction on Saturday for $975K! That is pretty high for a 100% flood impacted property!

 

Maybe someone didn't do their due diligence

 

Seems that way