QLD Help me decide suburb in Brisbane

So I am relatively new here and have been reading a lot of threads about Brisbane as I am planning to buy my first IP and enter the property journey. The forum has been extremely motivational. But, I must say that Brisbane market has the most diverse views of seniors on the forum here. Here is what I am looking for - your thoughts will greatly help me zero down on a suburb:

Budget - $375k to $500k (flexible) - detached house with at least 600+ sq m area (bigger the better). Looking for more value for money rather than just cheap price and therefore I am flexible with it to an extent.

Objective - Capital growth in near or medium term (allowing me to access equity for the next one)

Yield - I will be happy with neutral gearing but may prefer positive gearing that may come without much additional investment e.g. 4 or 5 bed house instead of 3 OR house with pool etc. Close to amenities will help too.

Location - Any pocket poised for capital growth which could be a result of good connectivity to transport, shopping centre, good schools, infra upgrade etc. You all know this well.

Now the most confusing part - like many others on the forum, I am confused about picking one suburb from the ones that are being talked about very frequently here. Below is the general list I gathered (not in any particular order):

Chermside
Mango Hills
Redbank Plains
Redcliff
Strathpine
Moreton Bay
Petrie
Banyo
Rochedale South
Springwood
Loganlea
Marsden
North Lakes
Bracken Ridge
Bald Hills
Kallangur
Murrumba Downs
Lawnton
Bray Park
Scarbourough
Clontarf
Zillmere
Carseldine
Nundah
Manly
Coorparoo
Camp Hill
Seven Hills
Manly

Some general caveats that may affect above suburbs - Over-supply of housing, low owner occupier ratio/ appeal, flood zones, high public housing concentration

Considering all this info, can you please suggest which suburb should I go for and why?

Appreciate your input.

 

Why don’t you share your top 3 suburbs of the ones you have listed, show us what research you have done to date, list some pros and cons- and then we can give you some feedback.

 

For your budget you can eliminate these straight away.

Coorparoo
Camp Hill
Seven Hills

 

And Nundah

 

Let’s not completely discount time travel!

 

You will have to look outside Brisbane as a 600sqm block in Brisbane is now over $350k

 

If you look at some of my other threads, you will see that I make the distinction between the Brisbane Local Government Area (LGA) and other LGAs (e.g. Logan, Moreton Bay etc). As your budget is somewhat constrained, finding a property within the Brisbane LGA will be a bit of a challenge but maybe possible. Look at a map of the Brisbane LGA, search for properties near the edge of the LGA area. Generally, any suburb within the LGA area that you can find with a free standing house for the price range should be OK. Outside the LGA area will require more research. If you can’t find anything in the Brisbane LGA then try Redlands, Moreton Bay LGAs, then Ipswich Logan LGAs. The further you go out, transport options become more important and closer to the coast would be better.

 

First thing I would make sure is if that budget is self imposed unnecessarily, or is it something you absolutely need to stick to. It's crucial to get that right imo.

 

Wellington point is a great suburb

 

You are right.. it's not absolutely necessary to stick to. I can increase it while being mindful of the yield though. I wouldn't like to be end up with 2.5% yield for example. If the property isn't overly expensive to hold, then I am open to expand the budget.

 

Long story short, I am confused between Moreton Bay (to Kallangur) region, nicer suburbs of Logan (Springwood, Underwood, Rochedale South), and other suburbs of inner city (Brisbane CC) that may possibly fit in the budget.

I am aware of pros and cons and infra projects in pipeline but I would say that's what is making is more difficult since there's no one area absolutely better than the other. Moreover, most of the popular areas among investors have lower owner occupier ratio. Since I am not local, I can't comment on 'feel' factor though. That's another reason I have posted this.

 

It's important to go back and assess what your goals/plans/strategies are and what your financial situation is etc. This will determine what kind of deals/price points/locations you should be buying.

 

You want capital growth in near term.
This will be hard.

Im generalising but Brisbane growth was 0.3% for the quarter and just 1.3% for the year.
Adjusted for inflation you lost money.

Consider current market you will need to make smart decisions

 

I see, and that's the main reason I want to look for a property configuration which gets a decent yield even if it is in generally low yield suburb. At least it will be easier to hold if I had to wait for years to see any decent growth. What is your advice in particular?

 

Yes, you are generalising! Some BNE suburbs have experienced near double digit growth for the year.

 

If it helps I own multiple properties in both Moreton Bay and Logan councils. I’d go Moreton Bay before Logan. I would however stay away from the areas that have been absolutely hammered by investors in last 12 months (refer vacancy rates). Along train line could good for future growth- example Bald Hills. Or even somewhere that is affordable, has access to all the infra growth drivers, but with higher owner occ appeal. Eg Rothwell as opposed to Deception Bay. food for thought.

Likely higher growth closer in (BCC). but you’ll need to pay more.

 

Thanks. I don't have any loan and this will be my first property. I regret missing Sydney and Melbourne ships but for Sydney I wasn't even prepared financially though so I wouldn't blame market. Given my budget, property cycles and my 'buy and hold' approach, Brisbane seems to be the best option at the moment. Also, it offers better chances of getting good value property for the price. My current financial situation is like a plain card - no loan, no property investments so far. I just moved to Sydney for work (from VIC) and serviceability isn't an issue at least at this point. Since I am a new entrant, my goal is to build a portfolio. Therefore, sooner the access to some equity, better.

I will be content with fewer but solid properties, and as long as I can buy a PPOR eventually where I am living. My PPOR purchase plan will really depend on how fast I can expand portfolio and thereby access equity. Since I have just moved to Sydney and it's very unpredictable market (but still expensive) at the moment, I am happy with rentvesting (also rents are not bad as a % of property price at this point). Properties with development potential in Brisbane look appealing to me (e.g. Loganlea) but I know I will not be able to get into it given full time job, intra-state hassles and lack of time in general. I don't mind even cheaper suburbs of Logan etc but since I have decent budget, I want to buy the best it can buy and later on I can add high yield properties in portfolio if needed.

 

I would be getting as close to the CBD as you can. Youll be spending $500k but at that budget I’d be looking around keperra, Ferny grove etc. Train line, not too far out, far cheaper than surrounding suburbs, future development planned.

 

Love love love this pocket Dan. Under $500k not impossible, but getting harder to find (unless on a main road).

 

Yeah same. I’ve got High hopes. It’s been chugging along slowly but steadily the past couple of years. You’re right it’s not easy! But if you watch it daily the odd one comes up right on $500k just have to be ready to pounce!