QLD First IP 500k Where to Buy in Brisbane?

Hi All

I am looking to buy my first IP, looking in QLD, preferably Brisbane but I am open to other suggestions. After lurking around past threads, sort of have narrowed down the search to below suburbs:

• Petrie
• Keperra
• Ferny Grove
• Ferny Hills
• Strathpine

Goal here definitely is capital growth in long term, with focus on negatively geared but positive cash-flow for the short term, thusly looking at new developments rather than established ones.

Thanks in advance for your advice & ideas.

 

If looking at houses (you should in these areas) Keperra/ferny is out of your price range.
Petrie / Strathpine for new would be difficult for that money too. You could pickup a 70's place for that which needed lots of work. 18 months ago your budget would have been sufficient.

 

Have you thought about the Gold Coast. I would be buying there with that budget, close to the beach as you can get, preferably east side of the highway anywhere between Surfers Paradise and Kirra. This city has matured over the years and will continue to show excellent growth in the years ahead. The bonus is that yields can be tweaked to improve cashflow if you want to get involved in fully furnished or short term letting.

 

Hi,

Thanks for your replies. I understand the budget may be a bit off the mark as the property market has skyrocketed in QLD as of late. 500k is what I am comfortable with, but if I come across a really rockstar property/project with potential I reckon I can push the bar a bit high to mid high 500s or mid 600s.

I did look in the goldcoast a few months ago, but not actively looking now. That deal did not go through. You think I could get a new build in the goldcoast with that budget? what suburbs would you recommend I look around?

There is a new build in strathpine I was looking at, it's in the samsonvale road, probs the only new development there (this is me with my amateur google skills) few townhouses & new houses coming up.

The Landing Strathpine | House & Land For Sale Near Brisbane | Peet

 

I drove past the estate in Strathpine yesterday and it is looking great, I noticed the houses I could see from the road are huge. I dont think you can expect positive cash flow on a new build - someone else with more experience can add to this.

 

$500k you "might" be able to squeeze into Petrie/Strathpine. Not for long though.

Prices have skyrocketed up north.

 

Hi,

It really depends on budget and rental yield.
If you budget is $600k it will be very hard to get in those suburbs apart from Petrie and Strathpine.
I have not been targeting the Northside since around March this year because it has just gone to crazy and it is very hard to predict. I have now started focusing more on South Brisbane areas like Carina, Carina Heights, Tingalpa, Belmont, Mount Gravatt, Upper Mount Gravatt, Mansfield, Wishart and surrounding suburbs. These areas are still set for more growth.

 

Would a property in Kallangur still be suitable for a budget of 500k?

 

Aren't these suburbs already beyond the 500k-600k mark? I could only see townhouses listed in this range.

 

You can probably eliminate Northside now. All the Northern Suburbs are through the roof and market is hotter than ever.

$500k these days you'd have to go to Logan and Ipswich now. Some areas still sub $500k for now.

Wait another 6-12 months I would say even $500k wont get you much in the entire of Brisbane/Logan/Ipswich at all.

 

I'd like to jump in on this forum.
-Budget of 700k but am finding Brisbane's North too hot.
-1st time Investment purchase, so may look to change approach and target the 500-600k market.

1. What areas do you think there will be growth, but haven't already gone completely bonkers?

From an interstate perspective, the Redcliffe Peninsula looks beautiful but understand prices have risen a bit and there seems a massive % of renters?

I'm not looking in Brisbane's far North (Bracken Ridge) or Moreton Bay areas such as Bray Park.

Any advice would be fantastic.

 

Really? With interest rates crazy low, negative gearing & depreciation the numbers add up…. Add in something like dual occupancy & it would be hard not to be positive cashflow…. Unless of course one gets sucked into the overinflated prices of some hot suburbs right now.

 

Hi @skyfall - can you suggest some specific suburbs in Gold Coast at max $550k mark?

I am looking for something in QLD as my next investment too.