QLD Caboolture 2020 market

Hi all,

First time poster and have been a ghost-reader for almost 6 years.

Just decided to create this post to see if any landlords in Caboolture/ South Caboolture/ Morayfield here could share what's going on on the ground. Surprised that this place has not much discussion around about on these suburbs.

Currently have 4 houses (3 in Caboolture: 2 inherited from family, 1 PPOR in 2013, 1 on the fringe of Bellmere)

Here's my observation and recent experience:
My uncle put his IP in Caboolture on the market in Oct and within two day received 30+ offers, this is really crazy!

Agents knocked my doors asking if I have the intention to sell my PPOR

PM contacted me about the market situation and "happy" to assist us if we want to sell them

My thought and experience:
Property investment is a long term investment, so I won't be selling that easily. But Im considering to sell the house (3-1-1) in Bellmere due to its less preferred location

As an long term resident who grew up in Caboolture, this is an interesting place with a lot of history.

Very HUGE disparity of value growth in different pocket , two of my 4-2-2 houses in Caboolture has gone up around 40% in value in the 5 years upon the bank revaluation which allows us to tap on the equity. (While surely there are other houses in less desirable pockets/ with fewer number of rooms gained far less than that for the past five years.)

One of my Bellmere 3-1-1 house only gained 13% in 5 years, fairly disappointing, and the last one, a 3-1-1 house, also in Caboolture, far away from the center but closer to Elimbah, has gained 19%, less than the 30% 5 years suburb median house price growth according to CBA data.

I noticed that close Proximity to hospital is really really important, because I find that my tenants are willing to pay a premium to live nearby to the hospital and one of my tenant has undergone an oxygen therapy in acute stroke, and she is financially secured with a serious health problem. She took very good care of my house and doesn't mind rent raise every year. With the Caboolture hospital redevelopment going, one of the largest hospital redevelopment project in Moretonbay, fairly confident the growth will persist, thats why Im not going to sell now!

And second observation is the project of Caboolture West and the ongoing subdivision development in Caboolture, which will/ is pump / pumping up the supplies of those miserably sized "townhouses/ houses" and units, makes decent sized (600sq+ or above) and 4 bedders even more valuable. In the past I actually asked my tenants why they like to extend our tenancy even with rent raise while many 3 bedders are on the market offer much much cheaper rental options. All the responses are similar in the sense that money is not their top priority and rather the size of backyard, 4 bedrooms, 2 toliets are much more critical factors to them.

Which makes me really really regretful in my mistake in purchasing one 3-1-1 in Bellmere. The tenants feedback actually are quite in line with the valuation came in. My future plan: Sell the Bellmere house and buy one 4-2-2 in Caboolture.

 

Certain pockets of Caboolture, Belmere and Morayfield have seen a big year in capital growth in some areas going up in value 80-100k roughly what iv seen watching prices carefully,
Massive under supply of houses on the market and very low vacancy rates with 20-30 groups of renters trying to rent your property,
One of my rentals a 4-2-2 in Belmere has seen a $35 increase in rent and I can see average rent prices of these nicer houses in nicer pockets will soon be $450 per week because there is not much getting developed here compared with 10 years ago, yes the big expansion in the west will happen one day but who knows when that will happen but as you say those land sizes will be much smaller and by that point I think the average cost of land will be close to 300k just for a 450sqm block, add 200+ for the build plus extras and expenses and these properties will end up costing well over 500k,probably closer to 600k.
I think demand will force prices up especially with low interest rates and easier lending coming in next year,
Nicer pockets of these areas is the key to investing here, as it has and is becoming a great place to live with easy access to Bribie Island and the Sunshine Coast and still not too far from Brisbane city only 50min or so on the train,
I think Caboolture is catching up to be a more liveable town than has been thought over the last 20 years with everything at your fingertips here,

 

Can I please have some inputs on what specifically are the good pockets of Caboolture? Especially keeping the Caboolture West development in mind

 

I'm a bit bias but the north side of Caboolture around the new Pumicestone state school area and housing estates coming off Pumicestone road. It's quite nice area and convenient 5 Minutes drive to the trainstation, Hospital, Bruce Highway. New future developments of Bunnings and potential new retail shops nearby will continue to help with growth.

 

Where did you get the figures? How reliable are they?