Brisbane vs Outer Melbourne Suburbs?

Thanks mate

 

I find this tool really helps for what you are asking... (if you don't know about it already)
Melbourne Investment Property Market Data
Brisbane City Investment Property Market Data

 

Yes it does matter cos if you invested in the flat or falling States you could lose money. Have you noticed some threads on the subject, after xx years in the red, that ain't no fun and you will be further away from financial freedom

 

Yeah, I understand that, thanks for reminding me. No growth, no equity, no further acquisitions.

However, if you got deposits for next purchases, and you can afford to hold, I think it's a no brainer!

 

Afford to hold means you're topping up from your own income. So you want to do that for 15-20yrs so you can have equity then, assuming you're well enough to enjoy it by that stage?

 

Yes, Anyone can buy property

 

I do admire people on here who find +CF properties, so no outgoing costs. However most of those properties are in woot woot, and that's a high risk strategy for me. Obviously those investors know very well what they are doing, it's just not for me at this stage.

 

I am enjoying your threads, we are getting lots of info along the way

 

fair point, no one knows, brisbane could have a short upswing, or a long or a sharp one, melbourne could keep going, or come off...no one really knows for sure as that would be crystal balling..

fair argument - place money into a place that has better employment figures ( and i dare say underlying fundamentals)...
Does not mean though that the CG will be more- because we are not talking like for like property and areas...we are talking outer mel vs inner and mid brisbane.
Would your views be the same if the OP wanted to pay 1Mil for inner/mid melbourne vs say 600-700k for similar like for like in brisbane?

 

The only way to get even remotely close to +cashflow in Melb now is through development.
There's only a few areas that I can make the figures work ATM... But even so, they are nowhere near as great as they once were...

Even the best H&L builds are down to around 5% now...

 

Realist is just starting out, I wouldn't suggest spending that amount in inner Melbourne, no.

Agree, it's all crystal ball guessing. I'm sure certain areas in Brisbane can outperform outer Melbourne, but which are they. I can't get past how hot Melbourne is right now and how easy it is to take advantage of the scenario. Also that free stamp duty is going to be the easiest growth you could ever ask for lower priced properties.
As long as nothing severally changes to employment, credit, interest rates(at least 2% rises will stop the markets or slow considerably me thinks) and immigration, then it should continue. But again, crystal ball guessing here, it could all fall apart tomorrow.
As long as one hasn't over leveraged and can make repayments and has a plan, then it's all good.

 

I'm definitely no expert but I found myself following a similar path. I researched GC and Brisbane and also Newcastle. I was very close to buying in Brisbane before realising that growth is more important to me than yield. At this stage I would prefer to watch the market for a few more years before I start to gamble on lesser known or regional areas. So I have now switched my attention to Melbourne as it seems to resemble Sydney 5 yrs ago in some respects. In that sense it seems like a safe bet for now.

I'm am now looking to use a BA to find somewhere within 10kms (maybe 15kms) Under $500k, neutral yield is ok if I can get more it's a bonus. I've no doubt the yield will increase over time. If anyone can recommend a good BA in Melbourne that specialises in East and South East Melbourne I'd be interested to hear.

Likewise if anyone has had a similar experience or made a similar purchase pls share.

 

500k within 15km and neutral? Maybe 10 years ago

PM me, happy to share my experience. We just bought in Melbourne, 18km from cbd, 500k.

 

You would be dreaming for a house 15km east or south east for 500k in Melbourne.

I bought a house over 6 years ago 16km NE and paid over 500k for the house and now I would get 800k easily and maybe get a 9 if all went well. Bank Val last year for that house was 750k and that was 12 months ago (in Early May).

This link might help you;



You may have better luck there but I think you will be looking a bit further than 15km.

 

Yes, I've noticed that seems to be the trend for houses. I'm not thinking about a house.

 

82 Alfrieda Street, St Albans, Vic 3021 - Property Details

Sold for $1.6 million - who would've thought?!

 

1 Young Street, Beaconsfield Upper, Vic 3808 - Property Details
1 Young Street Beaconsfield Upper Vic 3808 - House for Sale #125223234 - realestate.com.au

Would you say this is decent profit on a buy and flip in this price range? Had one up the road for 18 months been doing a major reno with intentions to also flip. The area is extremely hot at the moment. Not sure whether to hold out for more growth or get out before the market cools.

 

Is it just me, or does anyone else think that outer stuff as in above posts will be hit quite hard when the music stops in Melbourne.
It does not have land constraints like Sydney has to limit building and thinking it will do a Sydney outer is wishful thinking.
Plus, Melbourne although a strong economy is not as strong as Sydney's economic strength.

 

It won't be hit hard at all
It won't affect outer stock because outer suburbs are dirt cheap, good value and within every FHB and investors budget.
I only see high end of the market (1mil +), not that that's anywhere near the real high end of the market. The property's that were bought inner city for 1.4m,sold a year later for 2mil ect, they will be adjusted but lower end I don't see how it could.

 

Melb has the jobs, population, immigration and everything else going for it. I honestly don't see a crash, only a stagnant period coming for a bit, and I think we are at least a year or two away.

I bought my PPOR before the GFC, all my peers were saying they were holding out for the crash.. houses didn't go backwards at the lower end of the market, they just didn't have huge gains for the first 4 years. But now- mines done its 10 year cycle in 6