QLD Brisbane suburbs - what are they like?

Discussion in 'Where to Buy' started by Orion, 19th Mar, 2019.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Orion

    Orion Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    255
    Location:
    Melbourne
    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!
     
  2. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,136
    Location:
    Bondiliciously Beachy
    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.
     
    Last edited: 19th Mar, 2019
    kierank and Orion like this.
  3. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

    Joined:
    26th May, 2017
    Posts:
    1,244
    Location:
    Sydney
    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
     
    Orion, ndpjai and Angel like this.
  4. Codie

    Codie Well-Known Member

    Joined:
    6th Mar, 2018
    Posts:
    572
    Location:
    Brisbane
    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.
     
  5. kcbworth

    kcbworth Well-Known Member

    Joined:
    26th Apr, 2018
    Posts:
    51
    Location:
    Brisbane
    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
     
    Orion and Sackie like this.
  6. Orion

    Orion Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    255
    Location:
    Melbourne
    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
     
    Codie and Sackie like this.
  7. gman65

    gman65 Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    751
    Location:
    Brisbane
    Yeah, but be a bit careful with the 5k thing...many of those are a real **** to get to the city during peak hour.
     
  8. SoroSoro

    SoroSoro Well-Known Member

    Joined:
    18th Jul, 2016
    Posts:
    107
    Location:
    Brisbane
    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.
     
  9. Lacrim

    Lacrim Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    2,224
    Location:
    Australia
    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.
     
  10. Orion

    Orion Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    255
    Location:
    Melbourne
    Oh yes, that would be a 2 townhouse development.
     
  11. Orion

    Orion Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    255
    Location:
    Melbourne
    Might be alright if you can walk to a train station...
     
  12. SoroSoro

    SoroSoro Well-Known Member

    Joined:
    18th Jul, 2016
    Posts:
    107
    Location:
    Brisbane
    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.
     
  13. Orion

    Orion Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    255
    Location:
    Melbourne
    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.
     
  14. Prospekta.mf

    Prospekta.mf Member

    Joined:
    11th Jul, 2019
    Posts:
    15
    Location:
    Bathurst
    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 ?
     
  15. Codie

    Codie Well-Known Member

    Joined:
    6th Mar, 2018
    Posts:
    572
    Location:
    Brisbane
    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
     
  16. QldKoolies

    QldKoolies Well-Known Member

    Joined:
    28th Sep, 2018
    Posts:
    210
    Location:
    Brisbane
    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.