QLD Brisbane - Woolloongabba VS Lutwyche for Appartments

Discussion in 'Where to Buy' started by PoshVilla, 11th Jun, 2016.

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Which should we choose?

  1. Woolloongabba

    7 vote(s)
    46.7%
  2. Lutwyche

    8 vote(s)
    53.3%
  1. Azazel

    Azazel Well-Known Member

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    That's the reason I prefer somewhere on the Ferny Grove line, it doesn't go through.
    And driving out that way, you're out in the bush 15kms out, not still seeing suburban sprawl as far as the eye can see.
     
  2. Azazel

    Azazel Well-Known Member

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    PS You can still get houses under $500k in Keperra ;)
     
  3. BB5

    BB5 Well-Known Member

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    The Ferny grove line will run less regularly than those with multiple lines going through it. However I do like the Ferny Grove line areas as am looking for a PPOR (Mitchelton) but Keperra although neighbouring is full of housing commission and not a good area currently. Other issues for families in that area is not great school catchments compared to other areas.
     
  4. Azazel

    Azazel Well-Known Member

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    Although Keperra (like many suburbs) has some housing commission houses, it is not full of housing commission houses.
    Remember their budget, what better schools do you get into for houses with that median?
     
  5. Azazel

    Azazel Well-Known Member

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    And your kids will be going to Mitchelton State high school with kids from Keperra, same catchment.
     
  6. BB5

    BB5 Well-Known Member

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    I was just saying why that area is affordable compared to its neighbouring suburbs. It's not like people just don't know it exists and it's an unknown gem. People would just rather live in Mitchelton or Ferny Grove. I'm a case study of that I would live in Mitchelton and not Keperra. Keperra would be bottom of all suburbs on that train line.
     
  7. Azazel

    Azazel Well-Known Member

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    Good for you. I'd rather live in Newmarket, and the people there probably say Mitchelton is for poor people.
     
    Plutus likes this.
  8. vbplease

    vbplease Well-Known Member

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    +1 for rentvesting. You can get some amazing deals for renting near new apartments.. Pick your choice West End, Gabba, CBD, Valley, Bowen Hills, Newstead.. the oversupply is everywhere.

    Then buy where your budget will afford.. as long as its a house it's hard to go wrong in Brisbane.

    At the moment your still mixing lifestyle requirements with investing which won't work in todays unit market. Speaking from experience - had I spent $370k on a house in Mt G East in 2008 instead a unit in the Valley, the house would be worth $550k as apposed to unit worth $400k. That's when the oversupply wasn't as bad as it is now :eek:
     
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  9. vbplease

    vbplease Well-Known Member

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    If you're really keen to buy a 2bed 2bath unit, I have one coming on the market in a couple weeks. Stones Corner (Greenslopes). Ground floor, very low body corp fees, under $400k. It's not a new building though. ;) PM me if interested.
     
  10. Azazel

    Azazel Well-Known Member

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    That is the way to go, and also what I'll be doing when I move back to Brisbane.
    Some really good apartment rental bargains around.
     
    Whitecat likes this.
  11. Plutus

    Plutus Well-Known Member

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    Brisbane Development Map | BrisbaneDevelopment.com

    There is a tonne of new stock being built in Woolloongabba over the next 12 months. Its almost as if some developers somehow knew the proposed route for the $1.6b Brisbane Metro :rolleyes:. Given how much new stock is coming online, from an investment perspective its probably a horrible decision (could be wrong, just my opinion...) From a lifestyle perspective, I love the Woolloongabba & Kangaroo Point area & I think its going to keep getting better. Not sure I'd want to have kids here, but its perfect for the DINK lifestyle.

    I have no idea why you would pay $474k for a ground floor 2/2/1 when a few streets over in East Brisbane you can get a 2/2/1 in a small building (less noise, etc) in a quiet street with low body corporate that's less than 5 years old for under $430k.. even after the grant you'd be $20k better off and its likely bigger than the new OTP stuff.

    Let me know if you want me to message you the property I'm thinking of, I nearly bought it myself but I'm potentially moving next year.
     
    House, Bran and HUGH72 like this.
  12. JDP1

    JDP1 Well-Known Member

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    the efficient markets hypothesis isnt only applicable to the share market :)
     
  13. BB5

    BB5 Well-Known Member

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    Cool, but not sure how this is relevant to cheap housing in keperra? And people in Grange probably think Newmarket is for poor people.
     
  14. Azazel

    Azazel Well-Known Member

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    Mitchelton has a $100+k higher median than Keperra.
    The OP was talking about under $500k, hence Keperra as a suggestion.
     
  15. dan2101

    dan2101 Well-Known Member

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    Keperra is on the improve. I wouldn't say it's 'full' of housing commission. Great value compared to surrounding suburbs.
     
  16. ej89

    ej89 Well-Known Member

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  17. Whitecat

    Whitecat Well-Known Member

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    Buy a crap house as close as you can get. You can make it liveable with some touches and improve it bit by bit. If you buy an apartment un bne instead you are throwing your money away.
     
  18. Pumpkin

    Pumpkin Well-Known Member

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    @PoshVilla: read your original post, then sped-read the responses. Sorry rushing out for lunch.

    I had been thru the same situation 12 years ago: Sick of renting, wanted to hang a picture on the wall but couldnt... I craved my own HOME. So I bought a townhouse in UMG for $258k. I still have $50k surplus for my second house. Live there for 3 years, best location, easy to maintain, value increased by $100k, rented out the whole time, first negatively-geared, now it's positive.

    So my advice is to go with your heart but know what you are buying, but maybe lower your budget by $50k for your second home. Make sure it is a good rental property in 2-3 years time, good location, easy to rent.... do you numbers. I always tell people, where you start is not where you finish. If you are careful, the worse case scenario is you might not make as much money as you think. But as long as you dont make a huge loss it's ok. You gotta start somewhere. I have seen too many people hesitating, contemplating, researching, over-analysing til cow comes home, and now they are almost reaching 35-40!
     
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  19. Sarah T

    Sarah T Member

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    Woolongabba parking can be hard at game time in some areas. Other places are noisy from major roads. Some places near buranda train station are lovely.
     
  20. Sarah T

    Sarah T Member

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    Have plenty of professional friends renting long term in rundown queenslanders in wooolongabba coz of location, cheap rent and character of house
     
    Whitecat likes this.