QLD Brisbane or outer suburb Melbourne?

Hi, I've got some 400K budget for investment, thinking about a house in Brisbane or outer suburb of Melbourne. Which place do you think has a better prospect in terms of growth and rental reward?

 

Brisbane, you?

 

For houses outer Melbourne. If including all property a blue chip suburb walk up unit in Brisbane

 

Where are you seeing the best deals? It's near impossible to pick which area will have more growth however if you can generate some equity on the way in, and the asset fits the basic fundamentals of property investment you will do well over time.

Depending on the deal Brisbane might be better for yield but hard to pick which will have stronger growth due to the numerous factors that are out of your control like migration, unemployment and the strength of the economy.

 

It may well be better looking in NZ, We looked a freehold motel complex ,half an hour from queenstown a few hours ago 15 units x--main NZ highway --wiwo and less then 600k --there may well be more bang for your bucks in your own back yard..imho..

 

How are the lending restrictions in NZ? I hear they've cracked down hard over the last few years and it's hard to get investment lending with LVR above 65% without paying incredibly high rates?

 

I don't think that would be a problem as this will be a swap 2x1 property swap interest rates are maybe 2%plus from Australia ,fixed terms are above 3-5% .."IF" the title holders of the motel sign the contract --i just need a plan b if this time next year labor is in power and they start up the chainsaw up and ringbark property investors ,,after all not many within labor have ever been in private standalone businesses ..

 

Do NOT buy a unit in Brisbane. THey are still going south.

 

I'm currently based in Auckland.

 

Thank your for you info. I did hear people saying the south eastern Melbourne where houses are affordable is very low in terms of sociology-economy by contrast there might be more choices in Brisbane under the same budget.

 

Indeed there are good NZ opportunities outside of Auckland.

 

Not so serious as it sounds, NZ remains a good place for investors.

 

From what i have seen over the past few days within a 150 radius of Queenstown i would agree,NZ value price wise is above what most in Australia see,,plus the supermarkets have beers above 9% for less then $3-99 per 500 mill-litre and eruo imported..

 

So it's wise to invest properties in NZ without living there. Low income + high cost of living + high rents.

 

Many ppl invest in many places they don't live . Most important factor is the deal makes sense for your goals and risk tolerance .

 

Well should be able to get a bargain then?

 

Usually best to wait for signs of a market/asset stabilising and showing signs of recovery before buying in.

 

Not all units no, that’s incorrect. Still many holding and increasing, owner occ type walk up, blue chip locations. Definitely need to be careful and DYDD but there’s still good options in Brisbane for units.

Obviously if you buy a 2 bedder in NEWSTEAD in a block of 200, you shoot yourself in the foot.

 

In Brisbane I only buy houses, I like the land component and for future redevelopments, like corner larger blocks. The only time I bought units is if I owned all of them or built them!
Friend bought a townhouse in complex of 3 only, older with renovation potential in Carina for around $395K. So I would suggest something similar!

 

You sure the blue chip low rise are dropping? Or are you lumping all units in together?