QLD Brisbane - Wooloongabba

Discussion in 'Where to Buy' started by Sheldrick, 23rd Feb, 2017.

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  1. Sheldrick

    Sheldrick Well-Known Member

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    What are your thoughts for an investment property in the Woollongabba, West End, Highgate Hill and Dutton Park areas?

    I'm considering to spend $800k on an investment property (can go up to $950k and a bit more). This would be for my first house - currently still living at home and am in my mid 20s. My aim for purchasing an investment property would be for capital growth and will hold the property for the long term (aiming to hold the property for 30+ years). I'm hoping that when I buy my second property or when I start a family, this first one will assist financially.

    I don't mind having lower rents. I'm more looking at Woolongabba as it seems a bit cheaper than the other 3 suburbs. I'm thinking this area because it's in the Brisbane State High School catchment area (I realise some parts of Woolongabba are not in the catchment - I'm only looking at properties that are in the catchment) and it's close to the CBD. Also in my mind is the early planning for a metro subway system - I have no idea as to whether it will go ahead, but if it goes ahead the properties should increase substantially there.
     
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  2. Heinz57

    Heinz57 Well-Known Member

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    New busway has made a difference. Avoid the Deshon St bits where it floods and some streets get traffic noise. Like you said BSHS catchment is the biscuit
     
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  3. RPI

    RPI Property Lawyer, Town Planner Business Member

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    BSHS catchment is the absolute key. I like the Gabba and I think the South City SQ development will give it some above market growth.
     
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  4. Whitecat

    Whitecat Well-Known Member

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    I think you will do well in woollongabba if you get a quiet pocket.
    Dutton park is good too. Close to the uni across the green bridge
     
  5. Marg4000

    Marg4000 Well-Known Member

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    BSHS currently has an enrolment of 3100+ which is over capacity. Given the huge number of apartments under construction in West End, it is inevitable that the catchment area will shrink, and the Woollongabba area is logically the first part to go.

    West End or South Brisbane would be a far safer future bet than Woollongabba.
    Marg
     
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  6. ycdfdyan

    ycdfdyan Active Member

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    Have you tried look at East Brisbane?
     
  7. RPI

    RPI Property Lawyer, Town Planner Business Member

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    Awesome point.
     
  8. Kris85

    Kris85 Member

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    Is there much around for 800k - 1 mill? Dutton Park maybe, but in West End and Highgate Hill, prices seem to be at a premium. We had a look at many at end of 2016 in those areas and were surprised at the growth they'd experienced in even the last 5 years. Properties we viewed in that price range were on very small plots of land. Good areas for sure however (I grew up in West End).

    Looked at East Brisbane too, and parents bought a couple of IPs there 3 years ago. Paid around 800-900k for biggish houses on 405m2 lots. Those are both worth a bit more now, and high demand rental wise.
     
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  9. Sheldrick

    Sheldrick Well-Known Member

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    Thanks so much for the suggestions guys, keep them coming!

    I'm looking for a (3 bedroom) house rather an apartment. Does anyone know if the Brisbane State High catchment has shrunk over the years?

    I'll keep an eye out on West End - the prices in general do seem a bit over my budget. However, there's an occasional one that is around the 800-900k mark, eg: 208 Boundary Street, West End, Qld 4101 - Property Details and 68 Gray Road, West End, Qld 4101 - Property Details

    Anyone know much about the flood zones in West End? Would another option be to purchase the pockets of Woollongabba which are closer to Brisbane State High School?
     
  10. Stu6161

    Stu6161 Member

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    Sheldrick,

    Flood zones are available on the Brisbane City Council website. I think there is more capital upside in Wooloongabba than West End or Dutton Park as they have already had a good uplift. But they are all going to remain in high demand due to proximity to the city. However there are areas in Wooloongabba that are never going to get that uplift (too industrial/too noisy) so make sure you look around (and listen) closely before buying. I can help out with understanding the noise levels at individual properties if that would be helpful. See my post in "Airport Noise Cannington" for an example of the type of info I can provide.

    Cheers

    Stuart
     
  11. Greyghost

    Greyghost Well-Known Member

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    Better off spending the 800 in Melbourne
     
  12. JDP1

    JDP1 Well-Known Member

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    No..better off spending 800k in Sydney than in Melbourne
     
  13. Greyghost

    Greyghost Well-Known Member

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    Wrong.
    800k can buy a house in the ring in Melb. Not in Sydney.

    Brisbane doesn't have the long term growth potential Melb and Syd has, Melb is the cheaper option of the two, hence why I said Melb over Syd.
    Just think you will buy more with your 800k in Melb vs Syd. But hey debatable point is spose..
     
  14. Sheldrick

    Sheldrick Well-Known Member

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    I'm looking at Brisbane only at this stage. My first property and flying out to inspect an interstate property doesn't appeal to me. Also I feel that I've got less control if I were to purchase an interstate one.