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QLD Coorparoo

Discussion in 'Where to Buy' started by teetotal, 25th Apr, 2016.

  1. teetotal

    teetotal Well-Known Member

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    Coorparoo (QLD) – still time to jump on the bandwagon ??

    Coorparoo, which is only 4Km from City, seems to be going through a major gentrification thanks to the activity/hype created by the Coorparoo Square development.

    It is a mix of residential & commercial with some industry along the rail line, it’s recognised for its hillside character and pre-war housing. Mostly owner-occupied suburb.
    Mostly zoned as low-medium residential with parts as Character residential, mixed use zoning on Old Cleveland road and District Centre zoning at Coorparoo Junction.
    Coorparoo has its very own train station as well.
    There is some flood areas to watch for towards the train line.

    Demographics –
    • Mostly young population (33years median age) – ~70% are less than 45years.
    • Mostly professionals, managers, admin & sales workers – ~72%
    Coorparoo : Region Data Summary


    Here is what Council is doing to play its part in the makeover of Coorparoo.
    https://www.brisbane.qld.gov.au/sit...19_-_norman_creek_master_plan_-_coorparoo.pdf


    An old article, but still valid – The Coorparoo transformation begins
    Coorparoo Square @ Coorparoo Junction.
    A 3-tower high rise city-view Apartments, Cafes, Restaurants, Dendy Cinemas, Aldi Supermarket. And a future underground busway terminal directly under this development.
    Where is Coorparoo Square – Old Myer building (which has now been demolished to enable new building) located on Old Cleveland road. Right next to the RSL club, Woolworths, Coles, 3 major Banks and existing shops precinct.

    Coorparoo Square on the Architecture exhibition in Brisbane –
    Architecture exhibition shows off Brisbane's future personality

    Property prices are on the rise in the suburb and i think it may continue to happen for another 2-3 years given all the activity that is taking place.

    Thoughts ?
     
  2. samiam

    samiam Well-Known Member

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    @teetotal
    are you looking for houses? imho, I thought Coorparoo is almost done… I like hollandpark & mg/e but I have to work hard on my numbers.. but thats only for my situation
     
  3. JDP1

    JDP1 Well-Known Member

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    Fumdamentals of cooparoo cannoy be beat..but watch out for small pockets of oversupply and if there are any flooding risks.
    The growth it has already showed in this cycle shows how strong the fundamentald are. Id say it got more in the tank this cycle. Wont get any bargains though. Medium term will be laughing with high appreciation to what it is now. For thr short ter- next 3 yrs..Might have higher short term growth in neighbouring suburbs.
     
  4. teetotal

    teetotal Well-Known Member

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    Exactly my thoughts. Even though it has seen some growth but it still has more to come and definitely the game in Coorparoo is for 5 to 10years.
     
  5. teetotal

    teetotal Well-Known Member

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    Houses are out of my budget atm but still some old units can be found under 400K which can have some cosmetic touch up.
    Especially those close to Coorparoo Square will benefit from its activities.
     
  6. wylie

    wylie Moderator Staff Member

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    You absolutely can get an older unit for under $400k but the upside of the facilities at Coorparoo Square could be balanced by the fact there are hundreds of them all going to be coming and either become PPOR or rented out at the same time, even if each tower is finished and rented one at a time. That "could" mean a problem if you are trying to rent something nearby that is competing with "brand new" and "views".
     
  7. sash

    sash Well-Known Member

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    @beachgurl .... how is your sale going in Cooparoo?
     
  8. Bran

    Bran Well-Known Member

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    For a house? Sure!

    But I've always found it too expensive for what we can get not too far away.
     
  9. teetotal

    teetotal Well-Known Member

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    Even for a unit.
    Knowing that a lot of stock is going to come in market but at the same time new population is also expected to make a move into the suburb.
    Short term is definitely low CF with high stock coming up but CG should be higher to compensate that in the longer term.
    This suburb currently is a high demand market so more supply is being pumped in. However I think it is still not going to be enough. Given that the supply of stock is not the only thing that is being pumped in, but also infrastructure to attract more demand and sustain that supply.
    I think those units currently under 400K will gain momentum and reach 500K in next 2-4 years.
     
  10. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Has had a good run but still some value in houses.

    I'd spend the same money a few km further out though.

    If you're set on Coorparoo, and set on a unit, I'd be looking for an really big, old one in a small walkup with unique features (huge garage, wrap around balcony, private courtyard, city views etc).
     
    Observer, JDP1, wylie and 1 other person like this.
  11. beachgurl

    beachgurl Well-Known Member

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    No offers yet but a few interested parties
     
  12. sash

    sash Well-Known Member

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    OK....that is great....