QLD Brisbane Units around Gasworks area

I don't know this area, can anyone tell me pros/cons of this area? I assume there is no longer an actual gasworks?? Apart from a general oversupply of units in Brisbane is this area ok to live in?

I'm particularly interested in comparison of these developments (each a few years old) to understand why prices might vary
Kurv Newstead
The James Teneriffe
Y43 Teneriffe
(any other comparables?)

ETA: I think these are all built by CavCorp, are they a reputable builder/developer?

 

Pretty sure Newstead which is where the Gas Works is located is over supplied with units. The banks have a list of postcodes that they won't lend to or require a high LVR to secure which is a warning sign not to invest there. Suggest you complete more research before committing. I don't know the builders as I tend to only invest in established properties myself. BTW there is no Gas Works now.

 

Thanks - will look into the bank/postcode issue.

I've also been given a list of "comparable properties" but have so far only been able to confirm 2/5 of the sale values for The James (eg via Ksou/domain/RE.com.au) so am having some doubts as to how accurate they might be ...

 

I don't know your situation or borrowing capacity but if I was looking to purchase a unit in Brisbane I would focus on small established boutique block of say no more than 8 units. Also try and go for something with a bit of character as they hold their value better. Established properties are fair easy to get an idea of what they are actually worth in the current market as well.

 

I had time to spare last month while my car was getting serviced. Walking around this locale what struck me is that the apartment towers themselves are nice enough, but there are so many of them. There are also a few acres of land fenced off where more and more towers are about to be built, potentially blocking the views of some current towers. The whole district is one giant construction site, and I certainly dont want to live on a construction site with dust and cement mixers and scaffolding everywhere. I was also wondering how nice one's shoes will look after the river floods again and the poor dears have to get home. I would like to think at least one engineer has designed flood mitigation into the system, but how much do you rely on human error? That 1974 feeling (smell) came wafting back and I couldn't get it out of my head.


Thinking of Bulimba next............