QLD Brisbane IP circa 900K

Due to Brisbane weather, low set (single level) brick houses are usually cheaper than other stock.

 

Thank you Standtall, learn something everyday

 

Mostly been said but Keperra/Mitchelton, Banyo/Nudgee/Virginia area or Wynnum area? All lovely places to live (although Keperra's one road in and out can be a bit rough). I'll admit bias towards suburbs with train stations though

 

Good suggestion, however as we already own in NSW, looking to diversify to a new state to minimise land tax as it would be quite high given we already have a property in Balmain.

Still seeing some decent options pop up around 12 - 17km from Brisbane CBD within our budget.

 

Oxley in the west and Mitchelton in the north are nice. Both between much more prestigious areas and also lower socioeconomic suburbs. As people have been priced out of the “better” suburbs next door the demographics in both have been quickly changing. Both have a village feel and rail to get into the city. It seems like madness to type this but $900k won’t go far for much longer I think.

Check flood maps for Oxley if a property seems cheap that would be it.

 

What is horrible about Aspley?

 

LOL I thought it was a strong view too. Love the Hypermarket, lovely suburb I always thought!

 

Thanks for the tips. Everton Park/Hills is an area that seems to be in budget. Are they areas that generally do well rental wise? Looks like good transport links.

 

How about this small owner occupier section of chermside?
Where do you think the price point may be at?

https://www.realestate.com.au/prope...ge=rea:buy:srp-map&sourceElement=listing-tile

I know Chermside is traditionally dominated by units near the westfields
but this seems to be located on the border of Wavell Heights

 

could be anything from 1mil - 1.5mil

 

its interesting that real estate posts the median property price of chermside as 775k for houses
https://www.realestate.com.au/neighbourhoods/chermside-4032-qld

where as surrounding suburbs 300m over like wavell is on 970k
dose this represent untapped market opportunity? or is realestate.com just catching up because of low historical sell data over the last 12 mo

 

Onthehouse has house medians in Wavell as $1.178 and Geebung $867

 

Hi,

With a budget at $900k it is getting really tricky, but for us, we do spread our radius far and wide and aim to find the best deal according to your rental yield requirements. With your budget being $900k and you wanting just land I would look across the Wynnum and Manly areas, close to the esplanade or alternately you could look across Mansfield and the Wishart areas for a house sitting on a LMR block, this will allow you to be able to split the block in the future and build two new dwelling for income or sell for profit. I personally just purchased another investment property for myself last December for $970k in Holland Park, but I had to spend the break doing a full renovation. Long story short if you try to get within that 10km's or going to have to get a property that will need some work to get it liveable. If you are lucky you may still be able to pick up a decent home in the Mount Gravatt East suburb. you want to try get within the Cavendish Road School Catchment. If you are wanting something that will give you better capital growth I would look further out like Springwood, Rochedale South, Birkdale, Alex Hills, these are feeder suburbs and I feel like they are still underpriced. The best way to understand this market is by attending inspections and having good chats with Agents. They KNOW the market better than me and you.

 

Thanks all. We secured a great place in Stafford within our budget. Happy with the outcome... now to find a decent property manager. I have been told the management fees in Brisbane are more than Sydney and Melbs (around 8%). This is aour first QLD purchase so appreciate any advice and recommendations on property managers in the area.

 

Huge congratulations!

Can’t offer any feedback on property managers on that side of town, but always pays to go hyper local. It also pays to try enquiring on one they have available to see how easy it is for prospective tenants.

With your purchase, how did you score the place? Place an offer? Auction? Use a buyers agent? Would love to hear how you did it, I’m sure others would too

 

Thank you! Yes we did use a buyers agent and bought via auction. Still got it in the 9's which we were happy about and a decent size. In the current market i think we did well looking at the comparables. Will definitely do as you've suggested and check local agents. Appreciate the advice

 

Wynnum West is awful

 

Noted. We bought in Stafford.