Good Day, My first post on this new site. I am looking for recommendation for buying a investment property in Brisbane within 10km from the CBD. Since this is my first investment, My ideal property is around the 800k mark but I can buy upto the $1.4 Million mark. I am looking at it as a long term hold (capital growth) and would prefer where I can add value - reno (done in the past), sub divide (no experience) etc. Any suggestions would be welcome as I am from Greater Sydney (cannot travel to Brisbane because of close borders). Cheers
I would be looking at inner city single fronted houses in Melbourne with that budget if you're looking for long term capital growth
Thnx for your response. Most of the listing in Melbourne are sale by Auction which is a bit nerve-racking and being from Sydney I may have to look for a buyers agent to buy in Melbourne whereas Brisbane listing are more offer based. This is just my naivety. How do other interstate buyers purchase property especially when it is to do with Auction and the 10% deposit to pay for the auction. I am open to buy in Melbourne and Brisbane since this is my first property and my borrowing capacity is $2 Million but I dont want to borrow the max. My rational to choose Brisbane as my first property destination was lower risk (but less growth) due to lower borrowing. May be the second one I buy in Melbourne.
Actually whilst you might see most properties listed in Brisbane are for sale by private treaty (ie not auction), what you may not know is that the majority are going to multiple offer after the first open home, so you need to act VERY FAST to secure them in most cases. You have a healthy budget for Brisbane and you will most likely get into a blue chip suburb.
Is yield important to you? What’s your goal with it? think there’s a lot more information needed to give sound opinion However, if it was me? I’m looking for capital growth so I’d be buying the best knockdown block in somewhere like Hawthorne close to the waterfront/ferry and sitting on it for awhile, before building. Of course there’s other options like ascot, Paddington, clay field etc Market is starting to heat up in these premium suburbs and prices can jump in the hundreds of thousands on a new build $2m+ There’s one on my street in Hawthorne purchased last year for 1.05m, estimate around a $800-$900k build and would be worth $2.4+ approx
At $1.4m if you built a purpose built SDA within 10KM of the city I'd be happy to rent it off you for 20 years at between $65 &90k a year, depending on layout. Or on an SDA flow through lease.
My number 1 priority is Capital growth rather than yield since we (mrs and myself) are not big spenders.
Pardon my ignorance...Whats is SDA? If I want to offload it say in 15 yrs or so, is there a market for it?
Id consider getting a good buyers agent that knows the area well once you decide on a city to invest in, since your looking to buy interstate and have a sizeable budget.
First if i was spending 800k and wanted capital growth i would exclude 2 things. Floody zones, floody suburbs. I would also exclude those blue chip suburbs that have been cruelled by the new runway (parts of Hamilton, Ascot, Hawthorne, Balmoral, Bulimba, Seven Hills, Cannon Hill). Check the noise map for a detailed view. Did you know the last time we had a similar outlook in terms of long range forecast was 2011, and there were massive floods in Bris. All has been forgotten, but shelling out 800K this year in a floody suburb is a bit of a risk. Maybe floods this year, maybe not. Postcode 4152 might be worth a look, and you can keep to budget in Carina (< 800), or blow your budget in Camp Hill (>800). Plenty to choose from. i think this area will benefit from improved transport infrastructure planned along Old Cleveland Road. Tarragindi is also nice, but without the transport infrastructure. I personally think north of the river is a bit dusty and hot, but there are some suburbs in the 10k zone that might be OK. I personally think a big spend on Balmoral / Asoct / Hamilton might not end up being great because of aircraft noise. A pity but that is the reality once the planes get going again.
Ironic, your thinking of buying in QLD, and I am thinking of a thread as to why should stay away, along with every other state and territory, NSW is the only place I would put money after this latest interruption... I mean how can you even think of putting money into land when the party of the day can exclude you on a whim, let alone the poor returns from many places.
The saying goes that while investing it should must be a financial decision rather than an emotional one. Regarding QLD blocking Sydney entering from COVID, This are always few greedy people for their own motives taking decision that impacts all. After all we are one country except during State of Origin night . I have come to realise (I may be wrong), that each suburb has its own market dynamics meaning a good Brissie suburb "could" outdo a Sydney suburb for the same price range. Lets not get into politics and focus on Property on this forum.
Yes. BNE Flight Path Tool | Brisbane's New Runway Portal | Brisbane Airport Corporation turn on hte noise radio button on hte menu screen on left. Flooding in Brisbane overland flow does matter as well BTW. When it rains locally, flash flooding and overland flow can be as bad as river flood. For true believers, expect increase in flooding. Acts of God (not acts of man) are probably going to happen more frequently. Some don't believe and think the last great flood root cause was hydro engineers releasing water into the river (sigh).
Specialist Disability Accommodation under the National Disability Insurance Scheme. I'm one of the founders of NDISP an SDA provider. We have several hundred properties at moment but need heaps more. Yes, looks like a normal place anyway, just bigger doors and bathrooms. But there is also market for completed stuff
Hi, That is a very good budget it depends on yield required. First if yield is not an issue I would hands down buy a splitter property or sub dividable property for example, I purchased on Rowton Street, Holland Park for $690k and it's renting for $400 per week (Profit if developed is $300k) second one on Arnold Street, Holland Park Purchase Price: $890k rents for $450 per week(Profit is $400k if developed). So the properties are located in a high growth suburb and will see capital growth just for the house but as soon as you add the development aspect the capital growth is then compounded yearly. Otherwise you can go to Ferny Grove and surrounding suburbs. We just purchased another property last week for $535k and it is going to rent for $460 per week. It's a 3 bed 1 bath were you can create a 4th bedroom or second bath down the track to increase equity. You could also go to the other side of the Northside around the Zillmere area. We just got a sub dividable property for $507k and its renting for $480 per week.
You can buy, you just cant come see it, touch it, work on it, or anything else, but we will take your money in taxes etc no drama....
