QLD Greater Brisbane suburbs under 300K

Some of the places that are flood prone will really open your eyes .

We looked at one in ipswich and the bottom of the valley that this place backed on to would have had to be 30-40 m below the back fence , but the house was flood prone . I’d hate to be anywhere near the volume of water that caused that place to flood ....

Cliff

 

Have you considered Logan? Still possible to find something decent under 300k and around 25klm to the city and a lot closer to the Gold Coast than Gailes. I just picked up a house in Kingston for 250k fully renovated in 2007 estimated rent 330-340 per week. 600m2 flat block only 1klm from the Kingston station.

 

I have considered it, however on my budget the only suburb suitable is Woodridge, which looks far harder to find anything below 300K than Gailes. I've never lived near Woodridge, but from what I've heard online it sounds like the absolute worst place possible in greater Brisbane by a long way. And I'd still be struggling to get anything without requiring lots of reno.

And 2007 was 11 years ago. Did you mean 2017?

 

I meant 2007, which is a lot better than some houses that are in original condition in Logan (and Ipswich) which could have bathrooms and kitchens, walls and floors 30-40+ years old. A ten year old reno in Logan if done well will still look relatively modern. Lots of options for Logan apart from Woodridge under 300k you just need to know where to look and how to find them.

 

If you're quite new to property investing don't be shy to get some help from an independent buyers agent.

Its a bit of an outlay but could potentially save you alot more $$$

I picked up a place in Crestmead just under 300k a few months ago and its rented for $360 a week.

 

Logan looks good for that price point but I would be mindful of very low owner occupier ratio and high vacancy rates though. There has been a lot of speculation over the last 3 yrs and hence a huge rush of investors from Sydney and other places. At least 5-7 BAs that I know about, if not more, buy in Logan. The main reason being affordable prices and therefore higher yield. Should one buy in Logan? It depends on your goal. If your goal is strong capital growth then probably you may get disappointed with Logan. If the goal is just to add a house with decent yield to your portfolio, then Logan makes sense. If $10k over $300k is all the growth you are looking for in a few years, then you may get it as well but don’t hope for spectacular growth.

 

I'm sorry but you have no idea what you are talking about. I'm getting a valuation done next week for my 4/2/2 in Crestmead. Bought for $340k. I will almost bet it comes back at around $370k maybe a bit higher. CBRE will be doing it.

Less than 12 months since I bought. Nothing done to it. $30k ona $340k house. Almost 10% growth in 1 year.

I've seen growth in the area over the last 12-18 months. Before that yes there was a stagnant period - heck one of the houses I bought in Logan was $30k less than the previous owner. Not my problem they overpaid when they did.

Also look at suburbs like Shailor park and others around there. The growth of some Logan suburbs is very substantial.

 

I agree that areas like Crestmead are investor driven, meaning high number of rentals in the market. This is reflected in the vacancy rates right now and also confirmed by my sources ''on the ground''. A lot of new rental properties coming up around the Park Ridge area, so it is a bit hard to rent the older properties around however I see this only as a short term issue. But I have to admit prices have ticked up at least 10k over the last year. May not be as rosy as 'Mr Bangkok watch profile picture' suggests but in the medium term when/if the rest of Brisbane picks up, these areas won't be left behind.

 

Experts on here I see - most likely from ppl who own 1 investment or none at all. LOL - never had issues renting ANY of my houses in Logan. Longest 2 weeks.

Vacancy rates? I wrote a nice reply to vacancy rates in Logan compared to some suburbs closer to the CBD.

Using vacancy of 1 suburb then saying the entire of Logan is suffering high vacancy is ludacris. Also that example the particular member showed was like 3.8% which isnt even bad and lower than many suburbs closer to CBD.

Amateurs on here, uneducated and naive.