QLD Brisbane IP circa 900K

I've been reading lots of threads over the past few months on this forum to research our next IP purchase. We currently have a house in Melbourne (Ashwood) and Sydney (Balmain) and are looking to diversify into Brisbane (like many others). I've been researching and watching the rapid gains in the market and we now finally have our finance ready to go (took some time to refinance and extract equity to maximise borrowing capacity).

Our goal is to purchase as close to the CBD as possible within our budget on a decent size block (400 sq +) and with strong indicators for capital growth. Planning to hold for at least 10 - 15 years.

We are using a buyers agent who has sent us a multitude of suburb profiles which has just added more confusion and less focus to the search. Would love to get some fresh ideas in the current market (lots of the previous threads are now out of date). Appreciate your thoughts/feedback and any local knowledge/tips - this is my first thread post - go easy please

 

If you are already using a Buyer's Agent - they should be able to provide the clarity you are seeking? If your goal is to focus on strong indicators for capital growth, surely there is a strategy for location selection that your Buyer's Agent has provided to you?

 

What suburbs has your BA recommended?

 

Aspley, Chermside West, Geebung, Mount Gravatt/East/Upper.. will scrape in for 900s, but don't expect a premium prop any more. If its for land hold mainly , then maybe that doesn't matter. Its going be tough, but December is your best opportunity this year.

Best of luck !

 

December is his only opportunity this year

 

I did kind of mean "this year" as up to 12 months from now Anyhow, they all best be quick, 13/12 is a whole new world

 

Yeah I think it will kick off again in January and put on some more decent gains . Agree next couple of weeks is the best window

 

Consider Wakerley for around 900k. Good proximity to brisbane cbd and the water.

 

Why do you say Dec is your best op? Borders opening and surging demand?

 

Bingo

 

Interesting.... properties are going like hot cakes even in regional QLD.... looking forward to the surge

 

Pretty much..

Borders open Monday .. I think I read recently there are about 20,000+ people looking to enter, and that may only be scratching the surface. There are literally thousands camping across the border, sleeping in their cars, and have been there for weeks, just waiting. There will be traffic jams, there will be rage as people get stuck with checks, there will be hugs and tears, there will be streams of people heading into QLD next week. It will be chaos.

Most of them obviously are not rushing to buy a property the second they arrive but there will be investors (or future migrants) who can now more easily enter and inspect for themselves too. It'll just become much easier.

December may not be a bad time to buy, as most are busy doing xmas things, kids are off on school holidays and keeping their parents busy, but if (big if) there is anything out there who must sell asap, maybe there will be slightly less competition. It's sort of the calm before the storm I think.

Many buyers will have become frustrated in Spring at attending so many OFI's and being unsuccessful, they'll probably take a break now too "oh we'll wait until next year, maybe it will quieten down, maybe there will be more stock on market we can look at"

Because I would say, as things settle in to January and people start returning to work, they'll be thinking about what they want to do in 2022, and for many that will be to buy/upgrade/etc. Rentals are really going to be squeezed hard too.

I'm now selling a prop in Feb (or at latest March) based on this, I was going to sell earlier. I reckon there is maybe another 5-10% (minimum) in it in the first 2 months of 2022 I could be wrong too

 

Your budget is quite low for ‘close to the CBD’ decent sized Brisbane block with good capital growth indicators. I have lost count of people who still have Brisbane hopes based off 2018 prices. That ship has long sailed, returned and sailed again. This is even before southerners’ stampede which is about to begin in about 2 days .. it’s open season in Brisbane!

Have you considered greater western Sydney in your affordability range?

I think Brisbane inner to middle ring capital growth entry price has now moved from $800ks to well over $1.2m plus. May be $1.5m+ if you are targeting growth pickets like LMR zones etc within 10km radius.

$900k would buy you something IP grade a bit west of Campbeltown if you want to stick to Sydney.

 

I wish .. MGE/MGUpper are a Strathfield (or Chatswood) in making .. I think OP will struggle finding anything close to their budget across MG greater area which is IP grade!

 

Dunno.. this sold for $984k just over a week ago

https://www.realestate.com.au/sold/property-house-qld-mount+gravatt+east-137526610

Actually.. wtf? looks like they are sleeping in their lounge room when they have 3bedrooms?

https://i2.au.reastatic.net/800x600...b50e67be4115d5fa5483cf0be55335ea59/image9.jpg

and this for $1.0m 2 weeks ago... nice place and even in Mansfield catchment (bargain):

https://www.realestate.com.au/sold/property-house-qld-mount+gravatt+east-137789018

So if you can find something more run down, maybe needs a repaint or new kitchen or something like that might be able to still get for low 900's ??

Few auctions scheduled for the weekend before xmas - might get lucky?

But yeah, no way am I selling my MGE prop right now

 

Hold tight - far and few sub $1m sales that aren’t necessarily IP grade .. there are a lot of no go areas interstate buyers don’t know about (flood zones, zoning, low set discount etc etc)

 

Anyone have any thoughts on Wynnum west, seems to have a lot of potential and still affordable...?

 

It is a nice area. Lots of retirees. Always check flood maps.

I was also wondering about Wynnum West and comparing this to the Redcliffe Peninsula.

 

Hey I wouldn't look at Aspley....horrible suburb. What about Gaythorne, Mitchelton, Keperra....Gaythorne 7 k out Mitchie 8 to 9 and many parts of Keperra inside 10km. Quite a few props on 400m plus going for the 900s range. I think these suburbs will have excellent CG in the next 10 plus years as are undervalued in comparison to Kedron/Stafford/Chermside and are frankly nicer suburbs (although Kedron is gorgeous). Inner north west is pretty, leafy, good schools and train line.

 

what do you mean by low set discount thanks mate