Cleveland, QLD???

Hi all

Just wondering what everyone thinks about cleveland atm?

1. Where is it on the property clock as ive heard agents saying until oct/nov last year, houses would stay 'for sale' for a while but they have started moving and are currently on the market for only 10 days?
2. do you think surrounding development in thornlands, redland bay and victoria point will have a knock on effect as it has for surrounding suburbs in sydneys north west growth centre?
3. Does its proximity to rabi bay's exclusive residences mean anything?

Thanks in advance...

 

We are noticing a lot more volume coming through from that area. LJ Hooker Cleveland were in the top 50 sale offices in Australia according to REB 2016 Top 50.

 

T

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Thanks RPI. Are you seeing investors or FHB? sorry what is the REB? When did you notice this increase?

 

Importantly Cleveland has the train. So as well as being a running jump from the bay you can get to work in the city if required.

 

REB = Real Estate Business

Investors

last 3 months or so

 

Yea thats one reason why i like the area...

 

Thanks RPI....do you know much about the regs to develop blocks there that are zoned medium density residential? Minimum frontage? Does RCC permit amalgamation of sites?

 

Cleveland looks great, seems like a nice place to live, but the thing is, you can (or could) get much closer to Bris CBD for about the same money it seemed to me.

The train from around Wynnum is said to be at least 30 mins to city, Cleveland is a lot further out, but maybe there are enough jobs locally.

The 10 days till sale sounds suss to me, but I really do not know.

 

Redlands Planning Scheme

 

Having just recently moved back to Melbourne from Brisbane, particularly Redlands, I would be inclined to agree with @dabbler . Although a beautiful part of Brisbane bayside, we found it frustrating just how far you had to travel just to get onto a freeway/highway. Yes it has a train station but so does Wynnum, with the bonus of the Gateway on your doorstep. Wynnum is undergoing gentrification, something not quite as evident in Cleveland. Also, if it's subdivisible block you are after, look for "widow" blocks in Wynnum - 2 into 2 subdivision. Tingalpa, although further from the water, would also be worth a look into.

 

thanks....we are in a contract period with the Cleveland place already....just waiting on finance but we have had to ask for two extensions as the bank is slow so who knows where we will be this time next week

 

Good luck with it all. It can be so frustrating waiting for finance. Banks suck you in with a pre-approval then drag their feet when it comes to handing over the money!

 

I thought your other post seemed post checking the place out.....good luck, let us know how it all goes.

 

I would agree with this part...it doesnt seem a lot cheaper than other areas that are closer to the cbd. Look at the demand to supply ratio for cleavland vs those areas that are just a bit more expensive but have a much higher ratio. That is a key indicator of growth imo in the short term at least.

 

Personally, I am a fan of Cleveland, it's got all you need in the area, good schools, the bay....it is bang on 1 hour by train to Central station "if" you need to go there, but not everyone goes to capital city CBD to work.

Good yields vs purchase price attracted me to buy there in October of 2014.

Not too sure about local employment or lack of?

I think currently it has a much older demographic than some closer in areas to CBD.

It's close to the bay!

 

whilst that all may be true..i am refeering to cg in the short term the demand to supply is significanly higher in areas that are slighly more expensive than cleveland...which also happen to be closer to the cbd..

 

Go Browns!

 

oh god I know.....their IT and phone lines were down all yesterday and now we are at the 11th hour (again) of yet another extension deadline. The file has been approved they just need the stamp which for some reason, it taking too damn long! Broker has escalated it from finance assessment officer to her manager/team leader who is now proving hard to get hold of. He even contacted a manager in WA this am (just as another contact) who also confirmed the file is ready to go it just needs the stamp....whats taking soooooo long???

Not a good experience with this lender so far....

 

@Peta Notari just wondering if you ended up getting the place in Cleveland/Thornlands? Did you get a H&L package? I've just come across a H&L package for Thornlands and being in Melbourne, not really sure about the market out that way from Brisbane. Be interested in hearing how you went? The H&L package is forecasting/calculating figures on 8.00% CG, but looking at the median prices for the last 10 years in Thornlands, it's hardly moved (definitely not doubled), with medians from $435k in 2006 to $570k in 2016.

I'm just starting out and looking for my first investment property. I'm concerned that the CG rate (in the last 10 years) is a little too low for what I'm looking to build my portfolio on.

 

Hi, I tend to think you will pay the developers margin if you buy a house and land package.

For more profits, what other forumites tend to do if they want a new house is buy the land then engage a builder to build. If going down this path though personally I'd be more inclined to buy a 810sqm double (splitter) block, do the subdivision myself and then do the build on each new block.

Otherwise, buy just a plain old house on land, something needing cosmetic renovation but on large land so you may subdivide later on.

My 2 cents.