QLD Buying in Queensland

Hi all!

What are the non-negotiable for you when it comes to buying properties in Queensland? For example, a certain land size, distance from Brisbane CBD, low or highset etc.

It seems those on PC would only buy something that they can sell to developers or develop townhouses duplex etc down the track and that's non-negotiable. I could be wrong.

 

Everyone is different and even individuals would have different strategies depending on the area (inner city vs. middle vs. outer ring). For example I'd be happy to buy an apartment or townhouse in Mt Gravatt or Coorparoo but would be less likely to do so in Sunnybank Hills. You're looking for a one size fits all strategy that doesn't exist.

 

That's true. Kinda realised it after posting. Doh! I would prefer land but they aren't cheap it seems with high investors activities.

 

Who's based in Queensland atm?

 

all will have their own criteria.
For me:
1.not in flood zone
2. Needs to be at least medium socio-economic area
3. Location <10km from cbd
4. Location again - walking distance to busses/trains
5. Location yet once again...amenities like medical, shopping etc
Land size isn't as important to me but some land or large apt is preferred as it gives some extra zing for CG.

Not looking to sell to developers to build...

 

i am

 

I thought it was just JDP1 and I. The Seech and Dick F of the North.

 

As @jaybean said investors needs will differ a bit. For me for a standard IP, some 'non negotiables' would be:

1. No more than 15km from the CBD
2. Must be a house, no other dwelling type.
3. Must be at least 500-600sqm.
4. Must, must , must have room to add value
5. Must have decent rental demand
6. Must not be in a flood zone
7. Must be bought at a good price.

 

I love your strategies, @Leo2413 and @JD1, but I've gotta say, trying to get a house with all those 'positives', and a max of 15kms from the CBD, may not be achievable for a newbie like me. I just can't borrow enough to fund a house that is going to cost that much!

I'm starting slightly further out, and have put all my faith in @JacM to have selected me a great place. I'm really happy with her research and efforts, and her final selection, and now just have to wait and see what happens over the next few years…….

But I'd love a PPoR house, on a 600 sq.m block at Camp Hill or Coorparoo right now. That fits your criteria (But I'm not liking my chances of getting that at anywhere near a good price……)

 

I don't think Brisbane is like Sydney where some areas are clearly better than others. There are streets within suburbs, pockets within pockets. Also I think some Southern investors are more comfortable with brick and tile than timber and tin.

Simplistically, you could go to the map view of re.com, enter your budget and criteria and fan out from the CBD. So if you were going South you would first hit the flood plains of Rocklea, the industrial areas of Archerfield etc.

The other non location specific to think about in Brisbane is aspect. Try to buy north or North East facing, think about ventilation and breezes eg hills. Never have the key rooms facing West. The worst of the weather usually comes from the South.

You could buy in Springfield comfortably on your budget or move in closer and buy less house.

 

Yes, I have some pre-conceived ideas about property but (Brisbane) Qld is, I guess, different from (Sydney) NSW. Thanks @Heinz57 @KayTea I thought @JacM only buys in NSW? I guess I asked the wrong question, should have been "What criteria you have for buying in Queensland".

 

Brisbane , like all other cities, do have some suburbs clearly better than others eg woodridge vs ascot.
It might not be as pronounced as Sydney though...I can imagine in Sydney the divergence is massive eg Druitt vs potts point. that divergence is much less in Brisbane, if that's what you are referring to, yes I agree.

I never fully understood this- is the feng shui?
I used to think aspect is a secondary characteristic buyers look for- a pure nice to have and nothing more..? is this changing?

 

@JDP1 I find that the aspect of a house is often highlighted in Sydney property ads. Probably partly driven by REA, that North facing is good. We bought our PPOR with the front facing north (3 bedrooms) and my wife was most happy because West facing is warmer.

 

quite a few ads in Brisbane also have agents hyping the aspect. Wonder of this is playing a bigger part in buyer decision making.
My current place is true north facing , but prev one was west facing and I always felt more comfortable in that with a west aspect...

 

...and it aint going to get any cheaper in the areas you mentioned...according to this article:
http://propertyupdate.com.au/location-location-location-say-rba/

 

What about 10 years growth rate?

is that something to be considered as well or not really makes any difference.

 

No JDP1, not Feng shui, just most people prefer shade not sauna in the hottest part of the afternoon,

 

[QUOTE="KayTea, post: 61073, member: 2587" I love your strategies, @Leo2413 and @JD1, but I've gotta say, trying to get a house with all those 'positives', and a max of 15kms from the CBD, may not be achievable for a newbie like me.)]QUOTE]

Well you may not need to. .depending on your own goals etc. But trust me, don't use 'newbie' as an excuse to not do well. Learn as much as you can, make your self knowledgeable. Get out of your comfort zone and push yourself.

I think using a good BA as you have done is fine and yes finance may restrict where you buy I understand that. But if you wanna be really successful with this, push yourself to learn what you need to learn. I know it's hard, but it's worth it

Well done for taking action though! Big thumbs up [/QUOTE]

 

Summer time North Westernly trade winds from the tropics generally mean north easterly winds in SEQ in summer so its preferable to have the main living areas facing NE. The least desirable would be facing directly west as living areas would become hotter in the late afternoon or evening. Now everyone has ac these types of things aren't as important as they once were probably. The reverse applies in colder climates.

 

Good luck with finding any good investments in SE Queensland at the moment, Larry. I'm finding the market here is far hotter than the stats have been suggesting. Looking over the last month I've found nothing that is truly cashflow positive (even at current low rates) and nothing but highly speculative opportunities for value adding. Typical eg new development blocks in really average burb location = 250sqm for $200K. And they're being snapped up! Prices seem to have headed rapidly north in just the last few weeks with buyers stampeding in herd mentality. I can't actually identify what's driving it as there don't seem to be any major economic positives. Things were quite different at the beginning of this year (before I was actively shopping).
I think I'll have to look elsewhere for opportunities as I'm a bit of contrarian but good luck with your search. Let us know if you find a diamond