QLD Buying a house to rent out near Brisbane CBD

Hi all,

What suburbs would you consider when buying a house around the Brisbane CBD? I was considering Holland Park, Mt Gravatt East, Upper Mt Gravatt as a few. What would be your personal opinions if it was you? Any other advice?

My take is that house prices within this range of he CBD aren't ever really going to go down, certainly not over the long term, and someone will always want to rent a place near the CBD. Pretty simple.

 

I liked these areas: Paddington, Spring Hill, New Farm/Tenerieffe, Milton, Norman Park, Bulimba, Fortitude Valley, Woollongabba, West End.

 

All great suburbs. Yields can be low in Holland Park/West. Mount Gravatt slightly better.

Also agree these are great suburbs: Paddington, Spring Hill, New Farm/Tenerieffe, Milton, Norman Park, Bulimba, Fortitude Valley, Woollongabba, West End.

I'd add Tarragindi, Greenslopes, Dutton Park, Annerley and Highgate Hill even Moorooka.

 

I think you have to factor in transport links, rather than just as crow flies. There are a couple of gems - Rochedale South being one of them. There are some suburbs that will be tricky to get to Brisbane CBD, and the other thing is that the M1 is starting to look worse going from Brisbane to Gold Coast in the morning and evening. Is that telling us that the population is starting to see GC as the 'twin' and the M1 as the conduit? In which case some of the inner city suburbs very congestion heavy / tricky to live in.

 

Good advice all. wylie, my budget is up to 650k

 

650K won't get you the suburbs mentioned above unless it is a fix me up dolly.

 

Really? Goodness gracious. I can't believe how much prices have gone up in recent years

 

Inside tip. Have a look at Carina Heights on Google maps. You can see that Carina Heights and Camp Hill are actually a single suburb with an arbitrary line drawn down the middle. Camp Hill is hideously expensive, Carina Heights you will pick up a house for 650k. Closer in than Mount Gravatt and far more amenities. 2 mins from Westfield. Bus to CBD in under 20 mins, as they use the busways. Also see:

Where to invest: Buying a home, Brisbane real estate, investment property, Carina, Carindale, Stafford, Keperra, Lota

The most liveable suburbs in Brisbane if you have a young family

 

I think all those suburbs are great and prices will go up in Holland Park and the Mount Gravatt suburbs. We have already started to see them go up like 10% in the past 6 months. You have to really understand the suburbs and understand were the bad and good parts are (mainly driven by housing commission).

If I was to pick for location and price, I would go to the other side in Carina. This suburb has gone up significantly in the past 6 months but still has room for more growth.
It's right next to Camp Hill were a 3 bed 1 bath could cost you $800k but only 2 streets away in Carina you could get a 3 bed 1 bath for $650k. You also have easy access to the Brisbane CBD. It would cost you around $15 for a uber into the city and if you want to go to the Sunshine Coast or Gold Coast, you simply get onto the Gateway highway which is a 2 min drive from Carina.

 

Just make sure it's a house and not a unit in those suburbs!

- Andrew

 

I have had a house in Carina since year 2000 and couldn't be happier on it's growth performance and tenants. I never plan to sell it too.
Sometimes for investment purposes it's great to buy next to suburbs where the price disparity differs in $100K or more, as when most people will be priced out of those more expensive suburbs then tend to move next door.
Wynnum West also built in year 2000 is also such similar suburb located say next to much more expansive surrounding suburbs like Wynnum, Mainly, Lota.

 

It is similar on the north side - same side as the CBD.
Just the next suburb a disparity price is massive.
Example - 3 bedrooms house average
Grange 4051 - $792k
Stafford 4053 - $673k

Really? It isn't even 5 mins difference driving distance.

 

A typical home at The Grange (qlder) is usually older, classier and larger than a typical home in Stafford.

 

Yes there are some truth to that.
But if you take compare apple to apple - The difference is in the land value difference.
Not sure if it warrants the $100k difference for about 2km driving distance.

 

Totally different feel though between Grange and Stafford. Not sure if its still the case as houses are progressively sold off but there was/is a fairly large HC representation in Stafford.

 

Of course my view is slightly bias.
The post war homes in Stafford is prime to be knock down and rebuild into something new 2020 standards.
Because there isn't any character overlay on these blocks, I feel there is a better prospect of rejuvenation.
The choice is your to make - Build new Hampton style house to future Cyber Punk house.
The limit is your wallet.

 

Recently bought in Carina, and are happy with the outcome. Lots of people interested in property on the ground in 4152. Good compromise for property price vs location and proximity to hubs of employment. Deathly quiet at night (what is going on?). Most active at about 5.30 am when everyone seems to be walking the dog, or just out and about.