QLD Deception Bay

Not a negative if you own a site that developers want

 

True that... but it's like playing the lottery unless you buy with that in the back (or front) of your mind.....

 

Yep...I don't buy with the hope that it will be rezone.

I buy on resi fundamentals....a few people have bought (mostly in Logan) with a view that the rezoning will occur and push prices up. Interesting....slow and steady always wins the race.

Hey Awkie.....how are your Sydney places holding up??

 

I am happy with Sydney... may upgrade PPOR. We'll see...

 

Deceptive Bay... Rofl

Ahhh yep I went there

 

So what can you report back with @eng?

 

I spent a good hour on foot and drove around the neighborhood of Deception Bay this morning, talking to the locals and getting to know the area. My feeling about DP is, if you are willing to buy sight unseen, cheapies with potential and properties with high yield , and you're willing to wait it out, I think DB has a lot to offer.

These are my thoughts:
* from talking to my lawyer, and the locals there, flooding isn't a major concern for most people
* houses are around 30-40 years old, with every second house in need of repair,
* there's a gloomy, eerie feel about the place (it didn't help that it was a gloomy, rainy day today)
* from talking to people (not living in the area), it's not a place that they would want to go to for a picnic, bbq or a day out at the beach
* it's a low socio economic area
* the Esplande, cafes and library has a kids playground area. There are several fisherman, and people who walk their dogs, jog or stroll up and down along the bay. That's about all the activity I can see and think of
* there's really no cafe culture, no markets/stalls, monthly planned events.. no vibe to attract you like nearby Redcliffe
* as you drive out of the area, there are some shops scattered along Deception Bay Road, mostly drive through.
* it could take years to see some visual appeal, and even with the gentrification, what are you going to do about the area as a whole if every second house looks like a haunted house?

I now think differently about DB... that DB is a great investment for certain investor types - for those that want good returns and growth.

I had high hopes for DB, but it's not the right area for me. I look for family friendly places, DB doesn't suit me. I even had high hopes of renting a place on airbnb in DB for a few days holiday with the kids. But after today's experience, that's highly unlikely.

I'm not one of those who "buy based on the numbers" or who buy sight unseen. I buy for yield, but I don't base it solely on the numbers.

Having said that, that's just my buying preference, there's nothing wrong with buying in DB.

 

Firstly I'll start by saying -at the right price point there could be come good buying opportunities in DBay, Id say anything under 300k you may get some short-medium CG, however DBay has never been on my list of potential "buy" suburbs for the following reasons:

• As a local all my life i can tell you DBay is a suburb that is very unlikely to draw outside visitors, it's mainly confined to local population, there are no other "pull" factors present.
• Don't be fooled by the perception of a "water" and close proximity to CBD as driver for CG.
• Dbay is a long way from the CBD, 45mins+ on a good day.
• Following on from the above point, it's not even close the the Bruce Highway for easy access North and South so very isolated
• A lot of the structures are low set housing commission type homes, very little opportunity to increase yields or add value.
• Low socioeconomic area, I consider it worse than Logan.

If your chasing a "Bayside" lifestyle closer to the CBD stick to areas like Wynnum west, Wynnum, and Manly - much nicer suburbs, however be prepared to pay much more.

If your chasing yield as always I'm an for advocate Logan

Still possible to buy under 350k on 7+ plus yields + CG in the short-medium term.

 

Did you go to Redcliffe?

 

@eng, thanks for sharing. Your thoughts were exactly the same when I had my boot on the ground 18months ago. I am more risk adverse and went Logan for the reason @seanbrissy provided.

Here this post from a BA in N QLD, about the crime in the area and would rather go Woodridge instead.

I still love my stats before I get my boot on the ground, so I don't loose them..

From the QLD Police website > Online services > Crime

Kingston and Woodridge
Total number of properties: 8930
Total number of crimes in last 6 months(June-Dec 2015): 1582
Percentage of crime per dwelling: 17.8%

Deception Bay
Total number of properties: 7606
Total number of crimes in last 6 months(June-Dec 2015): 1360
Percentage of crime per dwelling: 17.9%

Kingston and Woodridge combined

Deception Bay

So as you can see DBay has the same % as Logan's 2 worst suburbs: Kingston and Woodridge.

For someone telling you that DBay is a superior suburb than Logan Surburb, in terms social economic and crime.... I think it's simply a deception.

Ooops I've been using too much stats again... let me back out.

 

+1 everything that @seanbrissy says including the low socioeconomic demographics.

Don't be deceive by what you see on Google maps. Driving around up north of Brissie is tedious and takes much longer to get around. The roads aren't as well connected as Logan. I stopped at most of the stations along the Petrie - Kippa-ring line, it looks very promising. Most people that I talk to are pretty excited about it, and it will greatly benefit the whole area including DB.

Yes I did

 

Great research @eng, sounds like it was worth the experience

 

Would you consider Redcliffe? It's a bit more than DBay in terms of pricing.

 

@RetireRich101

Keep the stats up mate, I enjoy them very informative.

However I will add one point regarding low socioeconomic areas in Brisbane, surrounding council regions and Gold Coast, they are common.

If you were to exclude a suburb simply on this basis the potential pool of properties would be low.

You need to identify a suburb which has other strong CG drivers in place which will push prices up.

Whether that be:

• Location and proximity to cbd
• Yields
• Gentrification of suburbs
• Lifestyle factors

Cheers

 

absolutely @larrylarry Redcliffe is a great spot. Walking around Redcliffe beach reminds me of Brighton-Le-Sands in NSW, minus the beach. It's got a good cafe/lifestyle vibe about it. The streets are wide, and the houses are well kept.

 

@seanbrissy what's your experience like buying properties for clients during christmas and new year? how would you structure an offer when lawyers are out of town, councils closed down period etc?

 

@larrylarry not a big deal, most buyers/sellers are aware of these issues. Generally extending settlement is preferred option. Having said that it's still possible to settle deals, I've got one settling 22nd December.

 

Thanks @seanbrissy I may make some offers in early Jan while travelling in the States or even next week before Christmas.

 

I'm putting in offers this week with settlement at 8 weeks and finance 3 weeks if that helps.

 

So the agents are, I presume, okay with these conditions? I'll be buying in Qld for the very first time.