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QLD Durack Qld

Discussion in 'Where to Buy' started by Leo2413, 25th Aug, 2015.

  1. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Just wondering what anyone's thoughts are for this area, for a price range of mid to high 300s. Looks like there might be decent value in the area on a quick glance. Any one invest there/do some good DD on the suburb?

    Thanks
     
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  2. Bryan Loughnan

    Bryan Loughnan Well-Known Member

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    Proximity to Brisbane, Springfield and Ipswich is ok (20-25minutes) - major employment nodes.

    Easy access via Motor Way to Gold Coast/Sunshine Coast as well as the airport - albeit probably 30-35 minutes in good traffic - additional major employment node.

    "Median" house price might seem affordable, but given the lower socio economic demographic you could expect higher unemployment/higher petty crime etc

    Biggest concern though is the VAST amount of vacant land in the surrounding suburbs of Wacol, Willawong, Camira, Springfield and even the eastern side of Durack itself. Lots of future development and supply could hamper capital growth.
     
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  3. Bran

    Bran Well-Known Member

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    Am I mistaken in that a large proportion of the lower SES portion of the local vietnamese population were pushed from Inala into Durack?
     
  4. Elives

    Elives Well-Known Member

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    inala had already moved 15-25% so i didn't both on durack.
     
  5. C-mac

    C-mac Well-Known Member

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    I'm keen on Durack. Don't see the nearby open land as a threat providing one buys well in Durack itself. I.e. houses on large blocks. The vacant land will infill quickly with either townhouses or cookie cutter 350sqm sardine boxed housing estates. Doubt it will infill with nice quiet streets of 600-900sqm size blocks...
     
  6. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Yeah I agree @C-mac . I haven't done much DD on the area at all but at a quick glance it does seem very interesting and If I were buying more ips in Brisbane now I would do thorough DD on it to see how it stacks up.
     
  7. C-mac

    C-mac Well-Known Member

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    Yeah I'm speaking to some agents this week on in Leo.

    Can I ask, where are you looking to buy right now?
     
  8. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @C-mac Would love to know what your analysis concludes when your done mate.

    I actually am looking in Brisbane and Adelaide but for development sites, not ips pe se.
     
    Last edited: 27th Aug, 2015
  9. York

    York Finance Broker Business Member

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    This area looks interesting......
     
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  10. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @York Polides I did bring this up with you in the other thread but I think it may have gotten lost with all the replies etc.
    cvcv.PNG
     
  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    looks like possible good reno opportunities there. some older 4 bedder asking 380k. I would try to get it for 350k. That would be a sweet deal and I would do it right now without any more DD needed :D
     
  12. York

    York Finance Broker Business Member

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    Yes I remember. It's caught my eye. I haven't looked into too much yet. But now it looks like something that may need some further investigation. Good point though. Why hasn't it been mentioned by the rest of the PC crew?
     
  13. Leo2413

    Leo2413 Well-Known Member Premium Member

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    not sure mate. @Bryan Loughnan made a good point about vacant land . Although having a look at the price differentials of renovated 4 bedder to older ones.. at first glance it does seem perhaps there is reno potential. I think if bought at a good price say 350k range with clear reno potential it could be a great little deal.

    If you buy a deal there I will send you my address to send the bottle of champagne:D
     
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  14. Honeydew

    Honeydew Well-Known Member

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    Hi Leo2413,

    what suburbs did you buy in Brisbane ?

     
  15. Leo2413

    Leo2413 Well-Known Member Premium Member

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    HI @Honeydew we bought in Holland Park West, Holland Park, Mount Gravatt, Moorooka,
     
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  16. C-mac

    C-mac Well-Known Member

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    A bit O/T here but anyone got any thoughts on houses on big blocks, but are battle-axed in?

    As in, properties that don't have any street frontage except for a long driveway leading g down to the fenced-in property?

    These are typical post sub-division normally. But I've found a couple of rarer ones where the house on the 'back' block that had been subdivided, is still sitting on a mammoth sized block of land.

    Any pros/cons to such housing type? I like it because these offer the privacy of a house sitting far away from the street itself, but with (sometimes!) The future scope to sub divide further or add a granny flat (OR, buy-out the 'front' block; which in this case is still a decent 500sqm+; and bulldoze the lot and develop something much grander across the total 1300sqm, such as a row of 5 or 6 TH's?)
     
  17. C-mac

    C-mac Well-Known Member

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    A bit O/T here but anyone got any thoughts on houses on big blocks, but are battle-axed in?

    As in, properties that don't have any street frontage except for a long driveway leading g down to the fenced-in property?

    These are typical post sub-division normally. But I've found a couple of rarer ones where the house on the 'back' block that had been subdivided, is still sitting on a mammoth sized block of land.

    Any pros/cons to such housing type? I like it because these offer the privacy of a house sitting far away from the street itself, but with (sometimes!) The future scope to sub divide further or add a granny flat (OR, buy-out the 'front' block; which in this case is still a decent 500sqm+; and bulldoze the lot and develop something much grander across the total 1300sqm, such as a row of 5 or 6 TH's?)
     
  18. Honeydew

    Honeydew Well-Known Member

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    nice :) good areas. Thanks for sharing Leo. Are they all houses on land ?

     
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  19. Leo2413

    Leo2413 Well-Known Member Premium Member

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    HI @Honeydew, yes they are all homes, 2 of them are subdividable too.
     
  20. York

    York Finance Broker Business Member

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    It's a deal.
     
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