QLD Brisbane - Where to look at?

Hi all,

Looking for some help.

I am looking to purchase an IP in Queensland. I am looking to spend a maximum of $450k and see myself holding the property for 10 years. I am interested in:

- A house
- A place where finding tenants would not be a problem.
- A place where weekly rent will cover mortgage (or neutral).
- A good potential for growth

I was considering some suburbs around 20 minutes from Brisbane CBD (All be it with little knowledge). Can anyone suggests suburbs they believe may fit the criteria? My only other thing is would there be areas on the Gold Coast or Sunshine Coast to consider as well?

 

What kind of deposit do you have?
Would be difficult to find a positively cash flowed property unless you have a decent deposit.
Maybe give kilometre from the city as 20 minutes can be a bit misguiding - peak traffic, no traffic, etc

 

Rocklea would be the only one that would fit that price range for a house ,the downside it floods ---but not every property most near the Salisbury end don't flood anything near the small water course goes above the roof line..Very easy to rent--flood insurance above 3-4k ..btw We have owned property in rocklea for over 28 years apart from the 2011 floods it's just keeps giving..imho..

Real Estate & Property for Sale in Rocklea, QLD 4106 - realestate.com.au

The first one on that list was where the Red Cross and SES set up their rescue base in 2011 and the water came 150 mts within the properties footprint..Do your own homework carefully..

 

Last time I posted this, just feel it's a bit of a bible

Domain posted this today Brisbane's most affordable suburbs by proximity to the CBD

 

Hi AJ

In terms of finding tenants, you could check the vacancy rates - try SQM research (this shows them based on the post code) and speak to some local property managers.

For properties that will be neutral - positive you’de be looking at areas where yields are around 5.5% +

Also for good potential for capital growth try to look for places that have strong demand (more people moving there, increases in incomes etc) and limited supply of new houses on the market and new infrastructure projects.
Check out this interactive maps for projects in qld. Mapping the Queensland Budget

Hope that helps to narrow it down

 

I’ve posted this elsewhere but the Redcliffe Peninsula fits the bill. Low vacancy, good infrastructure, natural landlock and suits your price point. Plenty of good growth to come for that area.

- Andrew

 

Definitely agree with Redcliffe peninsula, land locked and plenty of properties close to waterways , access in and out via 2 bridges and new Trainlines. Great private schools , lots of developers are moving in , with many different types of apartments fetching 800k -1 mill plus. Buying freehold land is a no brainer there.

Proximity to CBD via the new 3 lane gateway is a plus also.

 

What do you guys think about Scarborough?

I'm renting in Margate at the moment and looking at buying something around the $500k mark. I love it here, but I don't like paying somebody else's mortgage.

I was lucky to have a house down in Geelong before the boom, so using that equity to purchase another house.

Few houses in Clontarf that I've considered looking at, renovating and renting it out long term (I'll live in it for a few years)

The only thing that scares me about this area, there are a lot of houses that have been on the market for a LONG time and no increase in value. There really isn't much going on in Margate however it's a nice place for retirement

 

Another solution instead of renting it out is make a sale out of it after renovations are done.

 

I personally grew up in Scarborough and was there for over 20 years. The old girl has now been demolished and 2 X 3 story homes built in its place.

Those properties on the market for a while are in need of renovation. Alot of the British buyers like something completed for them.

Those on the market that need renovation also are asking the current median prices, they need to reduce below current median for a turnaround.

I personally just picked up a property in the golf course area, that was run down , homes in this area when renovated are fetching 600-750k .

With the peninsula , you need the right mix of location.

Clontarf- Golf course & Haysmouth Precinct.

Margate- East of oxley and close to Sutton's.

Woody Point- Really any spot in that suburb but not on Oxley Ave itself.

Scarborough- The avenue's, Close to Morgan's & Boat Harbour & most of the old part of Newport.

Kippa - Ring - Behind southern cross college primary , alot of newer style 4 2 2 that have good size land & funny enough behind the cemetery is the better part of area.

Redcliffe - East of Oxley again and behind John st if you can get a splitter ( future development zone)

Out of these, Clontarf is the dark horse for substantial growth, closet to the bridges for ease of access, alot of room for council to improve Clontarf beach and Pelican Park. Brighton across the bridge has moved in a steep incline as has Shorncliffe .

Clontarf also has State and Federal MP's moving into area, that in itself tells me something. Luke Howarth & Yvette D'ath.

When people like that purchase in the area, they have pulling power for local council to improve facilities.

 

Why did you leave out close to the beach at Scarborough, facing east rather than facing west? I think all of Scarborough is attractive.

 

Thoughts on 14 Alice Street, Clontarf, Qld 4019

Really scares me about the median place floating and houses that are in better condition (closer to Margate so away from golf course)

Plus with the above, would be very hard to renovate due to the space upstairs etc

 

The BNE 2025 projects represent a renaissance opportunity for Brisbane

I think Brisbane is coming into its own...or will be in the next 5-10 yrs.

 

Yes the east is great also but more units getting built along Landsborough ave and Mein st is getting rather full of townhomes also.

Nice home on Jeays st (680k) currently for sale and one just has to look at the homes in that street that have sold for 1 million plus.

The views on the east can only really be purchased along the waterfront.. then expect to pay 1.2 and up from there.

 

Alice st itself isn't an attractive street , although close to course , Frost st and Bradley Rd have been climbing up the scales in value.

When those older homes in Alice, Essey and Rogers start getting the renovations that have occurred in Bradley & Frost the past 2 years , you will see the value in this area.

That particular home is a 50/50 in my opinion . The positives in no particular order are pool, close to schools, transport & Golf course plus land size.

The negative is no internal stairs and that close to the median but needs kitchen /bathroom overhaul.

considering this is at same price point.

11 Pamrick Crescent, Clontarf QLD 4019 - House For Sale | Domain

No internal stairs but most of home is completed

 

I have to disagree.
Generally the demographic who wants to live in houses does not want to live in apartments. For both rentals and purchases, the price point differences makes boutique apartments with water views appeal to a totally different market than your stock standard family homes for the lower-income single parents and their tribes. The high-density very low-income townhouse complexes are way back from the water, in Kippa Ring, Kallangur and DBay mostly, way back from any waterfront.

 

I was generally talking about Mein st , off Scarborough Rd.. alot of the older homes on 32 perch and up have turned into townhome lots.

Not in disagreement about where the perfect location is but you will find the Avenues (tip of Scarborough point) and close to Oyster point Esplande are beautiful locations.

As well as close to Prince Edward parade.. it's all a personal preference tbh.

 

Read the latest report from the Valuer General in the "Brisbane Suburbs with Double Digit Growth" thread. Interesting read.

Pretty much entire of Brisbane and surrounds by the Valuer General valuations have gone up.

 

$450K buy a 2Br 70's blonde brick unit in Melb. Will outperform any Brissy suburb for that price.
You really need $600K to penetrate the growth (potential growth) suburbs of Brisbane..
How much time do you have?
I wouldnt expect more than 2-3% inc/exc inflation in Bris...
Its tedious the growth here and if you are looking to leverage a portfolio, Brissy man not give you the 'omph' you need....

 

Moreton Bay region emerges as top performer in Brisbane market