QLD Brisbane my top picks and why

The external photos suggest the inside was too much work for anyone. But I would have bought it with the 650K I was willing to buy this place for...

Sold Price for 94 Pear Street Greenslopes Qld 4120

 

I like Staffor too, but it's a bit frustrating, in that it turned up on 'hotspot' lists a couple of years ago, so you look at it, but it's already gone up. Then it turns up again, and you look at it and it's already gone up.
Would've been good at around $350k

 

I remember when I was looking around Stafford Heights a few years ago and the agent told me which streets had HC stock but I can't recall it now. 350k might be pushing it, maybe in 2006-7.

 

A little more than I would like to spend for an IP, rents aren't high enough in Brisbane for me to justify spending that much for a 3-4% return, PPOR yes.

 

Was for a PPOR down the line, but not as it was.

 

Great city views and location though.

 

I think Stafford still has lots of upside to go, the airport link has opened the whole suburb up.

46 Crawford Avenue Stafford Qld 4053 - House for Sale #121097474 - realestate.com.au
20 Castling Street Stafford Qld 4053 - House for Sale #120850681 - realestate.com.au
2 Castling Street Stafford Qld 4053 - House for Sale #121096898 - realestate.com.au

 

@seanbrissy welcome and great to have you posting. You seem to have a lot of knowledge and experience of the Brissie market. Unfortunately I don't have the luxury to be shopping for $650K properties.
What suburbs around Brisbane and are your favourites for the $350K and below range?

Cheers,

Taku

 

@Taku Ekanayake what about the SEQ area outside Ipswich ?

You'll find quite some area under $350k median price.

 

Thanks for the feedback @Tekoz. `Will have a look into it.

 

@Tekoz
Hi Taku,

Under 350K your limiting your options in Brisbane, in order to establish what would suit your requirements you need to ask some questions:
1. What is you investment strategy: CG? Yield? Buy and hold? Buy Renovate sell?

Once you've established your long term investment strategy, then you can select the suburb which best "fits" your long term goals.

 

Given that a lot of the sub 350k are Mexicans, I'd suspect that they would be looking at yield plays a bit more so than pure cg? With potential to reno/add value?

 

I have recently invested OTP in Coorparoo Square project in Brisbane. It seems to be a very good project with Dendy Cinemas downstairs and now Aldi has also confirmed to open up as a tenant. Its expected to be a nice cultural hub with Cafes & Restaurants.

Anyone else done the same ??

 

Hi Teetotal,

What was your reasoning behind buying OTP in Coorparoo? from a location point of view Coorparoo is fantastic.

 

Hi... recently purchased into Stafford with the help of buyers agent.
550k
City view
20m wide frontage - north facing
700+ m2 block

Looking for long term hold and development duplexes once it gets rezone.
Close to shop and schools and parks.

Timing was everything - I can't believe my buyer agent was this lucky to have it on his radar.
I had to question him how it was timed right on.

 

Hi Sean,
My reasoning was the "coorparoo square" development project itself. When i read about it and what it is going to become, i became interested. And once realised that it is going to be developed by Australand i was sure that this is going to be good. But we'll find out in couple of years time. So far it seems very promising with all the activity that is happening around it.
Being from sydney, didn't know anything about Coorparoo but it was only Australand and the development prospectus that got me interested.

 

@teetotal , how much does it cost you ? when is the completion date ?

 

It's OTP...of course @Tekoz is interested

 

Thanks for the feedback @seanbrissy.
@JDP1 summed it up pretty much on point. I'm looking for something that has good yield above 6% with good potential for CG in short to medium term. Potential to add value also, however I don't want to do any major reno's and put too much $$$ into a property at the moment as I want to use as much of my savings/equity on deposits for more purchases. Also, buy and hold strategy.
I purchased in Bracken Ridge last year and Eagleby just recently. Looking for a third right now, but has to be sub $300K for this one due to tightening of lending.

 

Realestate has a 2 bed 1 bath from 505k, so assuming you paid on average 550k for a bed 2 bath, for the same price you could've bought this:

Sold Price for 3 Rowland Street Coorparoo Qld 4151


Older style units in Coorparoo can still be bought for under 350k they will be the ones benefiting from this development, without the high body corp fees.