Entry level invest property in Adelaide or Brisbane?

Discussion in 'Where to Buy' started by Chris93, 13th May, 2020.

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  1. Spiralkut

    Spiralkut Well-Known Member

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    I agree with this, had a pretty decent downturn due to the floods and loss of jobs over past couple years but vacancy rates have started to tighten over the last 6 months and Townsville city released biggest Infrastructure budget in it's history, could be in for a spring post covid. Make sure you check the immediate area wasnt affected by the floods and like Wilso said gotta weigh up that cashflow with high rates and insurance.
     
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  2. 2FAST4U

    2FAST4U Well-Known Member

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    For 300k you can get into northern Adelaide in suburbs like Parafield Gardens, Paralowie, Salisbury and pretty much all of Elizabeth. 300k will also get you into Adelaide's outer southern suburbs in places like Morphett Vale, Christie Downs and Hackham. There hasn't been much capital growth in these areas but the holding costs are minimal. The advantages of Adelaide over Brisbane is lower vacancy rates and no flood risks.
     
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  3. AndyPandy

    AndyPandy Well-Known Member

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    Also be careful of the council rates in areas like Logan. About $900 per quarter, council is ruthless.
     
  4. 2FAST4U

    2FAST4U Well-Known Member

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    Is the Brisbane City Council that expensive as well?
     
  5. wylie

    wylie Moderator Staff Member

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    BCC is cheaper than that.

    Without digging them out, our 900sqm blocks rates were about $800 (investment rate) and our own 600sqm block was under $700.
     
  6. jim1964

    jim1964 1941

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    They are still sometimes found around your price point.I'm still hanging in there for Christie's Beach,i only have kept 1 property now, sold all the others off, that's how confident i am in making some good money here.
     
  7. jim1964

    jim1964 1941

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    Yea,D$#^%H$#@&s, but lets face it, they are everywhere,i grew up in Christies mid 1970,s, boys became men very quickly.After 4 years the IP has never had any dramas,luck of the street i guess.
     
  8. Angel

    Angel Well-Known Member

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    I've heard some scary tales about crime in Townsville. Don't recall what suburbs tho.
    Both Cairns and T'ville had quite volatile economies over the years.
     
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  9. jim1964

    jim1964 1941

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  10. Rich2011

    Rich2011 Well-Known Member

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    No problem with flooding in Brisbane if you choose the right property, just buy well clear of recent flood levels and you'll be fine.
     
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  11. Rich2011

    Rich2011 Well-Known Member

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    That would include water, part of that would be paid by the tenant if the property is certified water compliant.
     
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  12. wilso8948

    wilso8948 Well-Known Member

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    Yep you have to know the market well. Isn't a case of just buying anywhere. TVille is now quite diverse and the signs were there prior to the floods and Covid. Purely talking leading indicators. I have no clue about future performance and nor does anyone for that matter. All we can do is hedge our bets and remove some risk.

    Let's face it. Most areas around Aus for under $300k are always going to have bad stories. But the majority of these areas mentioned are good solid regions with decent people living life. My suggestion to the OP is find an area of interest and watch it like a hawk for 6-12 months. Don't listen to the whole "cheap doesn't work". If it fits your strategy then go for it.
     
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  13. Chris93

    Chris93 Member

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    It's funny you say that , earlyer this morning was reading through another old thread (4 years) asking for people's opinions on buying in a lower socioeconomic area and every response in the thread was that he would be out of his mind to invest there.

    I just had a look over the debated suburbs performance and the median house price has jumped 60% in 4 years whilst during this time would of been yielding very well. Just validates your point that sometimes you just have to go for it if it fits your strategy!
     
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  14. wilso8948

    wilso8948 Well-Known Member

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    100%. There is a lot of people on this forum who compare their chapter 1 to other's chapter 10.
     
  15. AndyPandy

    AndyPandy Well-Known Member

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    Had a look at my most recent quarterly rates. total - $884, water consumption - $173. So that's $711 per quarter. That pretty high!
     
  16. Rich2011

    Rich2011 Well-Known Member

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    That's to pay for all the infrastructure coming to Logan soon ;)
     
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  17. magloop

    magloop Member

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  18. PropDir

    PropDir Well-Known Member Business Member

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    Coomera, Upper Coomera, Beenleigh. All in QLD. I don't know about Adelaide, I think Brisbane would be a better bet.
     
  19. Jana

    Jana Well-Known Member

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    This is what people says since 2016. Uni is in operation. I didn’t see any major upturn there yet.
     
  20. jim1964

    jim1964 1941

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    Valued at around 160k each, this was a few months ago now,also can only have row homes built, as per the DA,end value(on market) for each dwelling around the 350k area, depending on double/single storey.