QLD Chermside Qld observations

Discussion in 'Where to Buy' started by Sydlad, 18th Feb, 2018.

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  1. Sydlad

    Sydlad Well-Known Member

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    Why are townhouses in Chermside (3 bed 2 bath 1 car) cheaper than units being built?

    In other suburbs around brisbane townhouses attract a premium over highrise apartments
     
  2. Kevvy7

    Kevvy7 Well-Known Member

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    I'd e going for the townhouse over the unit if thats definitely the case.
     
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  3. Sydlad

    Sydlad Well-Known Member

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  4. Pumpkin

    Pumpkin Well-Known Member

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    I’m not a Northside person but from my quick glance, these might be reasons:
    - the Apartment is brand new OTP.Unsure of how old the Townhouse. I don’t like the toilet with shower over bath...
    - the Apartment has more facilities (higher levy?)
    - the Apartment is closer to Westfield, easily walkable

    Not saying I think it’s worth the asking price.....
     
  5. HUGH72

    HUGH72 Well-Known Member

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  6. BB5

    BB5 Well-Known Member

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    I actually prefer units to townhouses in a lot of locatons. Often feel more spacious due to not having the stairs and being more open and better built.

    Alot of townhouses look terribly built in brisbane and the upstairs bedrooms probably like ovens.
     
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  7. HUGH72

    HUGH72 Well-Known Member

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    Just my opinion but the units around Westfield Chermside are a disaster waiting to happen, serious oversupply.
     
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  8. Ed Barton

    Ed Barton Well-Known Member

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    Same around Garden City on the south side.
     
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  9. Inov8ive

    Inov8ive Well-Known Member

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    I don’t believe apartments are more expensive than townhouses in Chermside but townhouses are great value there at the moment. You can’t compare something brand new against something much older. The over supply of apartments in Chermside has had a negative impact on Townhouses. That first link you put up for the townhouse in Binkar st was purchased off the plan in 2010 for 500k, it’s in a good spot in a small complex. It should not be going for 429k but it’s a buyers market over there at the moment
     
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  10. Sydlad

    Sydlad Well-Known Member

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    Haha yeah maybe exaggerated a bit.

    Price premium is certainly non existinant though. 10 yo TH selling for similar price to near new 3 bed apartment in highrise

    Didnt expect to seem that
     
  11. Sydlad

    Sydlad Well-Known Member

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    Purchased for 500k.... ouch

    Where you get that info?
     
  12. Sackie

    Sackie Well-Known Member

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    Not comparable . Spec level/style is different.

    Personally I wouldnt touch units in Brissy or THs if my finance/serviceability was enough to get an older free standing home in the area.

    I would choose this everyday of the week without even looking where its located over any unit or TH in the area.
    72 Maundrell Terrace, Chermside West, Qld 4032 - Property Details
     
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  13. HUGH72

    HUGH72 Well-Known Member

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    Provided it is structurally sound and has no major problems it appears exceptionally good value and ready for a cosmetic reno to add instant value.
    Chermside west, so slightly different suburb but even so it probably sold not much above land value.
     
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  14. BB5

    BB5 Well-Known Member

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    Isn't that a really busy road though?

    Im not a big fan of chermside. Even though it has the big bus interchange it isnt exactly fast as they all go down gympie road
     
  15. Ed Barton

    Ed Barton Well-Known Member

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    Busy road, but not really busy. I don't think trucks are allowed to use it unless they need local access. Regular buses though, which would be noisy if the house is near a stop or intersection.

    Just wait till 2016, oh wait 2116, and there will be a busway to the chermside shopping temple.
     
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  16. Sackie

    Sackie Well-Known Member

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    Agreed. Looks kinda too good to be true but too good to be true deals happen more often than most believe .
     
  17. HUGH72

    HUGH72 Well-Known Member

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    It might be but for 450k on a 600m block in BCC area that close to the cbd is value compared to a boxy otp unit facing Westfield Chermside.
    Instant equity to be made IMO.
     
  18. BB5

    BB5 Well-Known Member

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    Oh definitely i wouldn't touch a unit in Chermside. Every time i go there seems to be another highrise. Not sure how anyone can handle hamilton road intersection daily.
     
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  19. Sackie

    Sackie Well-Known Member

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  20. HUGH72

    HUGH72 Well-Known Member

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    Buy old house on a 400-600m block, minimum 10m frontage. Knock down old house, build 2 story place for 350-450k Sell for 1m plus?
     

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