First IP property Queensland Gold Coast or Se Brissy...

Hello been researching areas of Se Queensland for my first investment property for like the last 6 months but reading as of late the Gold Coast might be the biggest boom town of 2017 I was thinking about a house in south east Queensland on a big block for around $300.000 k or now leaning towards the Gold Coast a townhouse for around the same price just wondering your guys opinions on the best option for Cg and good Yields have spoken to a few buyers agents as I am not sure of good and bad areas as I am from Victoria I eventually want to settle on the Gold Coast to live love the place always have and so over the Victorian winters body corporate fees kinda put me off any advice would be great do you guys think a house in se Queensland will go up in value more then a townhouse in a good part of the Gold Coast.

 

Also can you claim body Corparate fees back might sound like a silly question but I am completely new to this my plan is to buy rent it out for a few years then move there or even just rent it out and move into a share house not sure yet if I bought a big house in Se Queensland on a big block could build a granny flat later down the track live in it and rent out the front house.

 

I recently noticed that Mount Tamborine has a fairly tight rental market for houses. Mount Tamborine has not always been a good option as the population is transient....people make a tree change then find other places closer to CBD, so always plenty of property to buy. So if it is a buyers market and rental is tight it might be an alternative to the premium prices already being sought on the gold coast. The expected boom due to commonwealth games is well publicised and gold coast is traditionally a boom and bust town.

Gold Coast hinterland may be worth considering? Mount Tamborine, Springwood, even Kingsholme.

If you do want to go gold coast, the beach is where the demand is and the beach is expensive.

 

IMO Gold Coast and Brissy will do well in the next couple of years, so you are fishing in the right ponds but u just need to ensure you arent catching the wrong fish. In the Gold Coast especially, you need to do your research otherwise you will get burnt. There are some good Brisbane and Gold Coast threads on here, look them up and do some good reading. Personally I like the prospects for the Gold Coast, im buying there at the moment. My advice is, look for well located apartments in Surfers, Mermaid, Broady, Miami, Burleigh in small walk up buildings with low body corporate as a general rule. If you can get your budget up to 400k you will be better off. I would not consider anything that is not within 500 or there abouts metres from the beach.

 

Thank you for the advice.

 

I'm up on the Gold Coast at the moment and have had a look at a few appartments while here. I was completely blown away by the body corp fees of these places....between $130 and $170 per week! Never owned an apartment and doubt I will, but those body corp fees are outrageous.

 

Yeah the body corparate fees on apartments are a joke not to keen on buying a apartment for my first ip property.

 

I am sure you guys own property's what would you guys do in the current market I am thinking Logan area or Moreton Bay Area Kallangur decent houses with maybe a kitchen Reno or bathroom if needed I like decent sized blocks.

 

But a lot of hype around the Gold Coast also it's seen big growth over the last couple of years either a townhouse or house.

 

I agree mostly.. Although I would prefer Brisbane over gc for economic reasons- Brisbane has a larger and growing corporate sector than the gc amd it's also a bigger beneficiary of mining whenever that sustainably rebounds.

 

A lot of the Gold Coast activity is connected to construction employment due to the upcoming Commonwealth Games. Whether the same level of employment will be sustained after the games is questionable.
Marg

 

Hi Darren
good on you for considering going for it !
If yr after Gold coast -it has moved alot in the past 2 years .It is a boom and bust but i reckon it will hold better next bust ,but probably houses will hold value better or beachfront units.
There are some(as others have said) walk up units around these beach areas and they carry BC of around 35-$70 p /w up which is still abit but better than $130-250 p/w like the high rises!
IMHO these walk up units will do ok but i would balance it out with also buying a big block house that you can add some value to(possibly further up the coast to brissy (as are cheaper-around $300K) -if you want decent capitol growth

 

Have you checked out the Sunshine Coast? I believe it will see more long term consistent growth than the Gold Coast. I think the Gold Coast market is being driven by investors chasing quick growth because of the Commonwealth games. I know not many people will agree with me but that's my two cents worth.

Good luck with your decision! I'll look forward to hearing how you go.

 

Thanks for the advice guys huge help yeah Luke more leaning towards a house on a big block been looking at some high tops around $300.000 are there any areas if Logan you guys would stay away from like Woodridge and Kingston I haven't been to these areas but from reading on here there pretty bad not to sure about deception bay either a lot of commission homes I've heard.

 

MJS1034 i way prefer the Sunshine Coast I love it there it's probably a bit over my budget but I might do some research tonight the traffic is nowhere near as bad on the Sunny coast it's so laid back even if I rent out this ip property and share on the Sunny coast I'd be happy.

 

When I first started looking I was looking in the redbank plains area but I drove out there last time I was in Qld kinda in the middle of nowhere and some rough parts but I still think I will grow.

 

jdp1 good point what are some good growth areas around Brissy to you think I can probably get $350.000 if need be what do you guys think of Kallangur with the uni being build I've never been there might be time for another trip to Qld for some more research any exuse to go to Qld I love it there so over the ****** climate in Victoria.

 

I really hope Redbank Plains will grow,its been my worst performer so far !There is a new shopping centre and with all the development (uni/hospital)in nearby Springfield hopefully it will happen soon,there is a lot of land though.

 

I agree with this entirely (except I would not suggest Surfers). Miami mermaid and Broadbeach are the hot spots. Consider also Burleigh and Palm Beach. You'll see very good growth next five years and better yet have a place to move into. Buy as close to beach as possible. Older walk up rather then highrise.

 

Cheers big max are you mainly talking about apartments over townhouses i am just a bit put off a apartment for my first ip property do apartments go up in value much what price range are the apartments in those areas.