QLD Griffin and North Lakes

Discussion in 'Where to Buy' started by Logan, 4th Aug, 2015.

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  1. Azazel

    Azazel Well-Known Member

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    I don't know where more houses are available, but there are plenty of areas with bigger blocks on the Northside if that's what you're after.
     
  2. larrylarry

    larrylarry Well-Known Member

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    It's just a thought. North Lakes v Logan.
     
  3. Chris White

    Chris White Well-Known Member

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    I agree with Larry. I love having my bircher muesli and coffee at Mango Hill when I am in North Brisbane but I would not invest in Mango Hill / Northlakes at the moment - too much supply, blocks too small and many of the properties are peddled to interstate investors.

    We are buying a lot of properties around Logan and surrounds. Better yields, add value prospects + a forward moving market. No problems with tenants as 3/4 of our deals are off market with the owners renting back.

    Chris White
     
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  4. larrylarry

    larrylarry Well-Known Member

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    I am currently watching a few properties in NSW. Subject to outcome, I'd fly up to Logan for few days to get a feel.
     
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  5. Azazel

    Azazel Well-Known Member

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    What general area are you looking at in NSW Larry?
     
  6. larrylarry

    larrylarry Well-Known Member

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    Newcastle and surrounds.
     
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  7. Azazel

    Azazel Well-Known Member

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    Well that's refreshing considering all this Brisbane nonsense.
     
  8. larrylarry

    larrylarry Well-Known Member

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    I can only do few things at any given time so I'm just focusing on few areas to ensure my knowledge pass the test.
     
  9. Angel

    Angel Well-Known Member

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    hey. Just because new blocks at North Lakes are ******* tiny..... There are still big blocks with nice houses in the established parts. Mine is 13 years old on a corner, 650 m2. What can I do to add value? I can get new carpet, I can redo the landscaping - there is plenty of scope for that as it has always been a rental and the landscaping is below basic. Look plenty of buyers want a 'do nothing' rental.... So you can do nothing with mine and still get yield >5%. It is 1 km from the old schools and the town centre. What is the problem? North Lakes and Logan - might as well be Parramatta and Mt Druitt.
     
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  10. Gockie

    Gockie Life is good ☺️ Premium Member

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    Hi Angel. This is the sort of property that would get a tick from me. Not the new stuff big house, small land.

    Good land, (esp. Corner block), some update potential, perfect. :)
    Its the new stuff I'd keep away from.
     
  11. Angel

    Angel Well-Known Member

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  12. Logan

    Logan Well-Known Member

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  13. Logan

    Logan Well-Known Member

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    sounds like what I am after.

    Just to be clear, I think Logan AND North Lakes / Griffin are worth considering. Personally I don't have much time at the moment so I am just going for minimal work / reno - too much going on in Sydney and chasing deals !
     
  14. Logan

    Logan Well-Known Member

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    Angel can you recommend a PM for the North Lakes / Griffin area ?
     
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  15. strongy1986

    strongy1986 Well-Known Member

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    Redcliffe peninsula will outgrow north lakes , mango hill
    It's a no brainer
     
  16. Chris White

    Chris White Well-Known Member

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    Hi Angel, re your corner block at North Lakes, Moreton Bay Council will soon be allowing auxiliary dwellings (granny flats) to built and rented out separately (like Ipswich and now Logan Council)

    So depending how your house sits on the block, building a 2nd dwelling would greatly improve the cash flow.

    The Moreton Bay LGA will presents some good opportunities in the next 6 to 12 months when this is gazetted through council and we will see investors snapping up opportunities there to do this. Houses on big blocks in the Logan LGA are moving quickly now for this reason.
     
  17. Coota9

    Coota9 Well-Known Member

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    @strongy1986
    What do you actually base that on?
     
  18. strongy1986

    strongy1986 Well-Known Member

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    Geography

    Pull out a map
    Supply and demand

    Redcliffe is a pretty small peninsula

    One day it will take off
    And it's coming from a lower base than north lakes etc which is full of newer housing : hence the higher median price
    If the peninsula had the same new housing stock as north lakes it would be the same median
     
  19. Chris White

    Chris White Well-Known Member

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    Yields are a useful indicator of where things are at.

    (4 bedroom houses), in 2006 the gross yield in Redcliffe was 4.0% (median price $398,000). In 2012 yields were 5.9% (indicating a greater increase in rent relative to property values) - i.e. the median price was $379,000.

    In 2014 gross yields dropped to 4.5% (indicating a greater increase in values relative to rents) - i.e. the median price was $500,000.

    So we may see yields compress further to 4% (as per 2006). I personally wouldn't factor in too much more yield compression than this - I would view capital growth likelihood based on the potential for rents to increase and the general supply and demand equation.

    Actual supply and demand are the only things that affect property prices. And there are some good statistical indicators that help determine where supply and demand are at for each area.

    Check this use tool out guys - https://dsrdata.com.au/products/suburb_analyser_show

    There is some important background info on their website.

    I also have some info here about the relationship between yields and growth - http://www.pillarproperty.com.au/rental-yields-can-indicate-where-the-opportunities-are/

    Cheers


    Chris
     
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  20. HUGH72

    HUGH72 Well-Known Member

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    Thats how I tend to look at things as well, current vs historical yield is a good indicator where a market is generally. The only variable which alters this slightly is the current very low interest rates which are much lower than anything in the last 40 years?