QLD Brisbane Suburbs with Double Digit Growth

LOL Okay!!!

 

Dunno been on Holidays since December. Extended my holidays for an extra 3 weeks just got back a few days ago. Feels good to be able to go on a 3 month break with no worries.

 

What has your holiday to do with any of this, I take time to what I want when I want, land val is just as irrelevant no matter what I am doing, and, what you are doing.

I may as well say property in Bris has gone up cause I paid a dollar more for my Chinese meal tonight than mid last year, it is a wtf is being said....

 

I live in Seven Hills. Moved from Melb 18 months ago. I can say: any suburb that has a median price below its neighbours and ha a train station close by> will do well.. All these post ware asbestos houses.
As an investor you are fighting developers here. they wan 810sqm block to split down the middle and make 2 405sqm hampton style house for 850K each...
So we are looking at location with a block that doesnt cater to developers...
Carindale is great, but accessability in Brisbane is money. Trains are becoming more meaningful for middle class professionals. so station access, cafes, shopping, vespas.. it is happening (like footscray in melb).. please excuse my grammer, its almost 2am in bris and im on my 2nd bottle of wine haha....
I am cautious of Brisbane's growth prospects as it doesnt have the jobs or population growth.. So dont get caught up in the median price difference... Its relative.. Id rather spend an extra 150K in Melb and achieve superior growth (pending cycle timing), compared to the frustrating slow growth of brisabne - plus the lack of comparable sales when refinancing haha...
Even buying a PPR is dicey for me at present. rather pay $750 per week to be 5kms from city and have a pool, than pay a mortgage here. true rentvesting - like Chris Gray..

 

If your splitting blocks in camp hill and building you need to sell for significantly more than 850 each to make it stack up.

 

I own a splitter site in Seven Hills and end sale value per home is alot more than 850k. Both will have city views. Picked this one up while holidaying in Italy actually. Spent all night in the hotel's busines centre to lock the deal up then off to my morning gondola ride.

 

Where do you guys think will be good growth suburbs? What's the opinion on within 6km of city? Some suburbs close to the city don't seem that sought after such as spring Hill, east Brisbane, newmarket etc? Is there a reason for this? Flooding etc. Can anyone post some examples of what would be good value? My budget is flexible

 

The reason is because most suburbs within 6km of the city (excluding mainly the Riverside ones) are socially challenged with poor housing stock, amenities and surroundings. Woolloongabba and East Brisbane are good examples. Millions for a basic house there, to live amongst all the junkies in a semi-industrial hole. Lots of them are also high density zoned (e.g. Coorparoo now has massive high rises). I favour the suburbs 5km to 10km out, with large blocks, manicured lawns and all the amenities a professional family could want. Whether or not that stacks up to investment potential I don't know.

 

I've seen them going in Camp Hill for 1.1, 1.2.

 

Yep there seems to be a wide spread on price, depending on location to to cbd, views and finishes. Ranges from 1.1 to 1.7m. huge range so really depends on your individual development. The good thing ( from a seller's pow) is that cashed up OO are buying so stock isn't targeted at investors.


This one's even further than Camp Hill from the cbd. Although I can't stand Hamptons look, but sold $1.420

52 Stella Street, Holland Park, Qld 4121

 

You are correct and Brisbane is a strange market that way. Ashgrove, Bulimba and Camp Hill are far more sought after than Newmarket, Herston, Gabba even West End arguably etc... even further out out suburbs like Robertson & Stretton attract a lot of Asian money paying stupid prices. A large 800sqm block in Robertson before subdivision can fetch 1.4-1.5m

I don’t think there is such a need in a Brisbane to be within 3-4 km of the CBD. There isn’t the same lifestyle amenities or views to be had. The comment about junkies would be funny if it wasn’t correct and also explains why Buy/Hold of inner city houses in bris means headache, Low yield, poor quality construction, and negative gearing for limited organic price growth. We don’t have the large professional base and affordability means those with the job stability and income usually just buy.

 

You’ve spent too much time on the southside, see the light and head north (its where the clouds have parted and the sun shines). But seriously, inside 5km on the northside there’s huge unbroken patches of CR1 bordered only by medium density near train stations and main roads. Windsor, Wilston, Grange, Ashgrove.

 

Agreed. That faux Hamptons look will seem like dated cookie cutter trash VERY quickly.

 

Guilty as charged. We could be about to launch WW3 with a Brisbane North versus South debate!

 

I'm not a local so I don't get the feeling on the ground re North and South. Is North alot better than South in terms of prices or is South catching up?

 

I'm not a local either so I feel a little more objective. I'd say that everyone on the forums tries to push you to the North, whereas I don't see that the North is materially advantageous. They're obsessed with Chermside, Everton Park, Kedron. I think you get better value in, for example, Morningside (still), Cannon Hill (with station and proximity to Bulimba), Murarrie (with station and some low prices), Carina Heights (which merges into Camp Hill, and arguably should end up with the same pricing), Carina (which is cheaper than Carina Heights, if not quite as nice yet), bits of Mount Gravatt. I'm not as keen on the South West, and I wouldn't go too much further South East than Carindale because that starts to impact the commute.

 

Thanks for your thoughtful reply. Appreciated.

 

I’m local and have lived on all sides, own in a couple of the Northside suburbs @RaoulDuke66 mentioned.

My feeling, and a lot of general opinion of brisbanites I’ve spoken with is, Northside is older and more established and doesn’t really have many low socio economic area’s, it seems to be preferred for local family’s. Southside & southeast attract more interstate movers for some reason, most on the north stay north. I notice a lot more knockdown rebuilds Southside, more renovation/extensions Northside.

I agree with the comments above that morningside/cannon hill is undervalued, I’m personally in Hawthorne/Bulimba and this area is definitely my favourite in Brisbane. Quite an affluent area, many $2m+ homes & multiple range rovers. I’d say Northside, up to Everton park, Stafford heights etc is popular because given its relative distance to CBD and ammenities, the size of blocks & homes you get for your $$ and the owner occ % is high. Some suburbs that way are 70-85% OO. Not a lot of renters so people look after the properties.

If I had the $$ to go again & was chasing some CG - I’d either be buying a renovator in morningside, windsor/Wilston, some parts of east Brisbane/Norman park, and given my recent valuation I’d look at Everton park again.

 

Thanks for that analysis @Codie . Maybe the knockdowns and rebuilds on the South signifies a gentrification/more affluent buyers and money starting to trickle down there? Over the last few years I'm certainly seeing some nice contemporary splitters on 405sqm selling for 1.2m and alot higher..


Re seven hills I'll be starting a splitter there in about 6 months mate. Should have full city views due to its elevation. I hope prices keep rising there and flow from Norman Park. Some new stock in NP are showing massive prices. Matter of time before those priced out of 1.6m contemporary splitter will consider 1.4m in seven Hills.

 

Also I like your idea of Reno in those suburbs you mentioned for a quickish flip. Will chat to you more about it later on and see what you think. I've been talking to some mates of mine and even on the GC there seems to be some great water front Reno and sell opportunities. I've only ever catered to the OO market, not to investors.