QLD Geebung - my thoughts

Yes, I think being relatively cheaper than the some of the surrounds will mean it will pick up in value soon enough. That's why I bought there anyway

Still a few coming up under $500k, but probably not for much longer. I like the south as it has more desirable catchment for Craigslea or Wavell. From there you can also walk across the parklands to Chermside - 10-15mins walk.

Quick reno and flick on this one shows there is money to be made in the area:

Sold Price for 42 Blackwood Road Geebung Qld 4034

Sold in November at State Trustee auction for $390k in November. Must have settled December?, some pretty rapid renos in 2 months, and back on the market in Feb for above $579k:

42 Blackwood Road Geebung Qld 4034 - House for Sale #121750614 - realestate.com.au

 

Geebung is like Zillmere - looks great on a google map by all the experts until you go there and have a look around.

Flat and dull. Places like Aspley, Stafford, Everton Hills, Arana Hills, Mitchelton to me look more appealing - more nice scenery - views, hills, parks, shops, schools. Better quality of houses.

Geebung and Zillmere are more run down and more developers looking to buy, so will be alot of townhouses and units in the future

 

I grew up in Aspley and loved it. I only moved 2 years ago from the suburb. The caravan park does have a reputation but I used to live about 1-2km from it and never had any problems. It's a great suburb because the public transport is great from the Hypermarket and it is close to everything. Geebung is not bad. It is a bit like Taigum in some ways... You can drive by and see that people are using their garages as make do extra rooms. Some of the area is really run down but as a whole I think it has a lot of potential.

 

Also I drive along Robinson Road almost daily and that main drive is really going ahead. I watched 2 old wooden places get fully renovated into 2 high set houses and there's another one about to be developed. There is a lot of renovations and turnover of properties happening in Geebung and you can almost see the property developers moving in.

 

True in some ways, but the ship has sailed on the prices for many of those areas. I think there is pros and cons for both. Most will travel to Chermside anyway if they want to seriously shop, as its the largest(?) shopping centre in QLD. Also closer to the hospital, airport, sandgate, etc - for some that's important.

Geebung has 7th Brigade park, one of the largest in Brisbane? kids playgrounds there, etc.

To be honest, if I was buying to live, I'd maybe prefer north west myself, but for investment I think it will do fine.

 

Was walking around there last weekend after visiting my IP.. The streets could do with some more trees, but actually seems like a pretty family friendly place.

Nice 15 minute walk to Chermside across the 7th Brigade Park. Interesting history to read with the signs there, with it being a WWI and WWII training area. Few cricket fields, kids playground was packed, bike paths, plenty of space for people to walk their dog, etc.




I think this could go quite cheap and clean up ok, being main road, etc - 264 Ellison Road Geebung Qld 4034 - House for Sale #124094098 - realestate.com.au. These public trustee places seem to go 10-20% below the general market place, and auctioned by it looks just before xmas! I reckon maybe low 400's, maybe even under..

 

You mean the caravan park east of the homemaker centre? It's been torn down and in the process of being converted to a retirement village.

Geebung I like, it's got rail, close to Chermiside, close to the Gateway/airport, etc.

However if it goes the course of Zillmere with units and townhouses it will not end well.

 

Even I like ferny grove and ferny Hills which has a nice country appeal but close to the city with a decent train network.

 

That's the reason for my original recommendation of Geebung you have a huge amount of park land and you have a mall which is about to be completed renovations as the biggest mall in Queensland. Chermside has everything and as I said in another post the new South East Queensland regional plan draft specifically labels Chermside for development infrastructure etc as a satellite CBD. Any house close to that mall hub etc is good value atm imo.
There's no other Northern competition the next reel mini cbd hub of any size is way out at North Lakes

 

Do big shopping centres actually drive value though? To be honest I don't really care if it is 5 mins drive or 20.

Now suburban cafes and restaurants I can walk to, that's a real driver for me.

 

According to real estate advertisements they do. Otherwise i would assume through trial and error they would stop using it as a selling point.
Chermside is more than a shopping Centre its a bus hub, pool, new library and many other services.

 

Now you tell me!! I just bought there!

Geebung is already overpriced imho. Some silly money being asked for properties.
Like this one
51 Delaware Street Geebung Qld 4034 - House for Sale #123813906 - realestate.com.au
It didnt have a price originally and I inspected thinking it was under $500k but was told by the agent that wasn't going to get it. It has a new kitchen but that's it, needs a lot more work and is quite small. Good position opposite the park but value wise just didn't stack up. I ended up buying in Aspley for less than they're asking at geebung for a much larger house 4/2/2.

 

Maybe its just me, the agent tried to sell Toombul locally as a selling point, I find I go to crappy Lutwyche just because its hassle free.

I'd say the rail is much bigger selling point than the shopping centre.

 

Yes they have jumped since my original post. That's a good pocket in there. Ticks all the boxes for OO demand

 

Opps....didnt notice original post was in Feb LOL

 

Hello, thanks for your thoughts about Geebung Whitecat. Where else in Brisbane would an investor buy if they got a budget of under $400K? Thanks in advance.

 

Moreton bay area close to train. Check out the Moreton bay threads.
Morayfield close to the mall. A few years ago there was some extremely cheap pockets in there considering the amenity with rail and the decent size mall there. Get a solid PM but the price was right imo. I would have to do some research to see if those pockets I'm referring to are still priced at such a good point.
I prefer north of the river but Inala in the south can offer value it would just be one of those suburbs where you would have to pick your location very well.

 

Went to this one out of interest... About 8 people there, even a couple of registered bidders by the looks of things. But no bids, passed in at auctioneers open bid of 400k. Have to love auctions in Brisbane! Affordable housing in Brisbane, sometimes can't even give them away..

Needed a bit of work, but nothing major.

 

It's right on a busy intersection.

 

Very true, but I've known a few who started with a main road property for a few years and in the later on has allowed them to get where they want to be.. People can't cry about affordability when there are houses available near major centres for these sorts of prices.