QLD Brisbane suburbs - what are they like?

Hey guys,

From a quick re.com.au search, I've noticed some decent looking places in the 550-650k range in the following inner South / inner South West suburbs.

• Cannon Hill
• Morningside
• Fairfield
• Norman Park
• Seven Hills
• Greenslopes
• Cooparoo

Looks like you can get a freestanding fully detached house for that range that is in a quiet street.

Any comments on these suburbs? From a laymans point of view, they look to be pretty close to the city with good train line access.

Thank you!

 

I own in Seven Hills, Norman Park and Cooparoo. All great suburbs, If you can get an older place on a larger block of land with add value potential then you could be onto a winner medium to long term as prices have moved quite a bit especially for the blocks that can be subdivided.

 

If your from Melb and looking to invest interstate I would say spending $1000 for a flight and accommodation for a few days to see for yourself would be a good first step

 

Unless you have the inside word you won’t get anything for that price range worth buying imo. I just sorted low - high on real estate through that list and the only one that had anything worth buying was Cannon hill.

Everything else was in terrible parts of the suburb, close to the actual line, Ie backing onto it in Morningside or on a main road, Bennett’s, Richmond, Fairfield road etc.

 

Generally all of those suburbs are good - with high PPOR interest, good locations, and generally considered "desirable".

My least favourite would be Cannon Hill simply due to distance, but it's still very popular

 

These all seem pretty decent, albeit at the top half of the range I quoted:

Cannon Hill - $600k, 5km from CBD, $530pw rental (4.59% yield) - 52 Camelia Street, Cannon Hill, Qld 4170

Cannon Hill - $619k, 5km from CBD, 610sqm, possible value add opportunity - 16 Duke Street, Cannon Hill, Qld 4170

Fairfield- $590k, Block split, 602sqm, DA in place - 25 Cross Street, Fairfield, Qld 4103

Norman Park - $636k, new-ish townhouse, no value add but high depreciation example - 6A Wordsworth Street, Norman Park, Qld 4170

Morningside - $635k, 5kms from CBD, Zoned LMR 2 / 673 m2, 7 Gloriana Street, Morningside, Qld 4170

Morningside - $620k, 5kms from CBD, 607sqm, possible value add opp - 17 Grenade Street, Cannon Hill, Qld 4170

 

Yeah, but be a bit careful with the 5k thing...many of those are a real **** to get to the city during peak hour.

 

I've been looking around Annerley and Greenslopes and $650k doesn't get you far. That Fairfield property you linked needs a lot of work.

 

I think people will be surprised how pretty some suburbs actually are...particularly the ones within the 5km ring. I certainly was. And its only going to get better with all the rejuvenation projects planned.

 

Oh yes, that would be a 2 townhouse development.

 

Might be alright if you can walk to a train station...

 

What do the maths on that look like? Purchase for ~$590k, $15k stamp/fees, $15-20k teardown, $400-600k? build and sell for $600k each? Seems like you wouldn't make much after tax/fees on 2 townhouses.

 

I didn't really do the maths on it but what you say sounds right - probably why it's still available!

Doesn't seem like a good choice, unless there was a house that could be rented out, get the DA yourself and later on-sell without developing.

 

Hi there, I'm a possible interstate first time property investor. I love the look of Cannon Hill and it's in my price range but I don't love the look of that airport runway pointing straight at it. Is it very noisy there, can this be a hindrance to it's potential capital growth ?

 

Interesting to have a search through cannon hill tonight after this thread was brought back up, it appears things may have lifted quite in the 9 months since this thread was posted, the comparables posted are around 12months old now and looking at what’s currently for sale or under offer, things are a good 10% higher. The properties $600-$650k all back onto the tracks. It’s $700+ for similar to comparables posted and some of those are 405s...

Well done to whoever bought here

 

The sun shines in the north and birds sing. And you don’t need your book stamped when you cross the moat, nor is there any risk they’ll raise the draw bridges.