Hot Suburbs For 2016

Tekoz, Is that seriously the median for Park Ridge? I can see desperate sellers down the track. $700k can buy you Inner or very nice Middle Ring Brissie...

 

Park Ridge - there are limitless supply of land in the suburb. It is mostly houses on few hectares of land, sold for over a $1m that obscured the median. The house + land packages Tekoz bought is assumed lower end of 300k. These H&L packages will be released in stages over time. I also assumed Tekoz betting on each stage release the H+L will increase by 5-10% similar to Sydney urban land release...

 

Ta for that... 165 day average days on market and 19.4% vendor discounting... what a shocker...

 

I think the median price is influenced by the large number of houses on acreage, I knew many people in the 90s who bought 5 or 10 acre blocks there.

 

Check out Brookwater (Ipswich) houses selling (or asking) 800k-1mill.........!

 

Not keen lol..?

 

@Gockie somehow I must admit that RPData website is not that complete or the data for Park Ridge is Statistically Not Reliable, because of course I'd be lucky to see the median price is more than $300k of new house that I'm building now.

I don't think that's desperate selling. What I understand from that suburb report is that most of the big land owner in Park Ridge is now selling to the developer for H&L package potential.

Hence I believe with more demand from investor buying this cheap affordable investment my $300k new H&L property can rise higher next year.

I've seen the case like here in NSW in these two suburbs Riverstone and Leppington:



While the price growth is not as high like the above case, at least I'm expecting this pattern to be happening in Logan area, especially Park Ridge.

 

d

yes, that's correct @RetireRich101 that's the proven pattern that you've seen it right .

If it goes up higher $50k per year then it is wonderful.

 

When we bought our weekender , many of the houses had been on the market for 4 years with around 50 % discount . Even though we have no intention of selling , we're sitting on a very nice capital growth .

If I saw figures like that , I'd be intersted in doing more DD , to learn the story behind the figures .

Cliff

 

True. It just might take some time for CG to kick in though.

Anybody with the acreage will be sitting pretty now that it is being subdivided and turned into smaller plots...

 

Has anyone ever been to Park Ridge? I think it is on the road to Beaudesert - past Browns Plains.
People used to build houses on acreage out there because it was so cheap. It aroused our attention when we were house-hinting in 1980 but Hubby and I knew all about the severe storms that come down from the Border Ranges and cause damage in that particular corridor. Land out there has always been cheap for a reason. The entire district used to be weed-infested, desolate acreage, hence the very low population. There are no typical residential houses being bought, only acreage properties to be - you guessed it - developed into small houses for FHB and renters.

I gave this info to our learned friend many months ago but, being from Sydney, he knows better than someone who has lived in Brisbane all their life and have seriously studied acreage living.

Park Ridge has exactly one thing going for it - it's closer to Brisbane than Yarrabilba.

Maybe Seach will take a look at Eatons Hill instead, not that I'm hyping or anything

 

Yep.
I lived at Greenbank - we had 7 acres there.
I was at Park Ridge Tavern about 2 weeks ago, and I wouldn't hurry back.
I don't think it's all bad news for Tekoz, it's not too far down the line from Sunnybank Hills -> ALgester -> Parkinson, all of which are often far more expensive for the new FHB/

 

After getting the update from the developer regarding my Park Ridge H&L package, I've just browsed around the independent website to get a feel about the market price for tipical proeprty in my area.

Houses For Sale with 3 bedrooms in Park Ridge, QLD 4125 (Page 1) - realestate.com.au

Looking at the asking price, now I understand that by buying a H&L package it is surely the best way to get instant CG.

@Gockie @Bran @RetireRich101 @JDP1 @Angel
The gain is obviously not bad compare to Sydney .

I've told you all that you should be investing in Park Ridge, but I'm afraid you people is already bit too late.

Correct me if I'm wrong.

 

Go Tekoz

How much have you made already, 25%, 50%?

Damn, should have listened to you when you were buying there... Well I will definitely listen this time, too late to buy in Park Ridge, copy that!

 

Wrong section @Tekoz.

Here's where you should be looking:

Park Ridge, QLD 4125 Auction Results & Sold Prices for Houses in Park Ridge, QLD 4125 (pg 1)

 

Looks like heaps on the market (178 in the postcode if this is correct from SQM Research) and few sales. Which is basically not good for selling prices... sorry Tekoz.

 

We tried this already.

 

@meme plecko Yeah, that's why I have created the thread here about Park Ridge.
I guess you're now bit late to buy the cheaper lot.

 

@Gockie Do you mean it's over supplied already due to the number of property on the market
I agree on that matter, but as you can see it Park Ridge, QLD 4125 Auction Results & Sold Prices for Houses in Park Ridge, QLD 4125 with 3 bedrooms (pg 1) on that page.

It is higher than $303k my purchase price. Mostly the sold property data in that page was in 2015, hence it is possible to say that price is appreciating nicely.

correct me if I'm wrong.

 

Moranbah