QLD Hype Moreton Bay Shire Qld

Being from down south, I never quite understood the obsession (and price tags!) of these canal properties. But up here in QLD, it seems that for a great many people, that's the dream.

 

The blocks are not even canal front...for low 3s...add another 250k for a small house....that is 550k........

 

Right. I assumed you were talking about the canal properties with pontoons etc. I didn't bother looking at the rest of the estate. But generally, I don't think I've ever seen one of those housing estates and not just shaken my head at how expensive they are.

In the case of the Strathpine development, they got the land for around $45/sqm, and they'll be selling it for $1200~/sqm as a H&L package. Of course they'll have to build roads, put in services etc. But still, the average for an established house on land in Strathpine is around the $650/sqm mark.

 

has anyone check the mbrc planning scheme? me thinks mbrc has released too much the zoned precinct that are capable building multi-unit dwelling. for example sandwiched between Bells Pocket road and Peter St, Strathpine are zoned Next Generation. Each of these 600m2 is capable to building 4-6 townhouses in them. The Urban has a minimum lot for high rise, so basically for a 600m2 you can build couple storey apartments...

 

Oh the snobbery, ha ha.

 

Yeah... My property is within an 'urban community' zoning, with a maximum build height of 21m according the building height overlay map. This seems pretty ridiculous when you consider the street it's on is just a standard suburban street.

All I can tell is that living in that area, I don't see any evidence of anything actually happening yet.

 

What up home slice! My PPOR is in that neck of the woods also. I agree that overall this is a good thing. The lot sizes are on the small side but what isn't these days. At least it's not townhouses. At the very least it will mean more trade for the local shops and hopefully be a trigger for revitalising the town centre which could do with a spruce up. If only MBRC invested a couple of dollars in Strathpine the way it has in Redcliffe ...

 

Agree. We may see some activity in student accomodation once the University is open but other than that I don't see serious development any time soon. I don't think the end sale prices are there yet.

 

You won't need to wait long. MBRC are incentivising development in Strathpine.

To qualify for the incentives, projects need to be largely underway by December 2019, which I guess means the Development Applications need to be in the system but not necessarily approved.

Incentivising infill development

https://www.moretonbay.qld.gov.au/u.../MAP2 - Strathpine Centre Incentives Area.pdf

 

It hasn't been gazette too long, so give it time.
I love land banking on development lots, whether it's Logan City or MBRC. Agents don't bother put in the listing whether Urban/NG in their listing or they're ignorant about them.
Whereas in Brisbane city council, the LMR/MDR are their icing in the selling.

 

What are your thoughts on Scarborough in relation to CG with the newport development in progress?

 

I like the peninsular as it offers a wide range of options - Scarborough at the higher end but lots of older properties amongst the units, Newport for the newer (1990's-2000's) brick things with no yard but canal(-ish) access. Margate for the older sleepy sibling without great ammenities and older houses. Redcliffe for the hospital and town centre. etc.
I've skin in Scarborough and believe in the longer term CG. I wouldn't expect much short-term CG - aim at Petrie or Mango perhaps (although the horse is probably half way out of the door and heading for the hills), or just go into "town" to Chermside.

 

I suspect the newport development will increase value in the more established suburb of Scarborough with traditional streets and homes?

 

Newport has been around for a while now (wasn't it the 80's/90's?). The prices there of new brick mansions with the canal frontage probably haven't done too much overall. You could even say Scarborough suffered as the new big money went into the canals (not literally unless it was a bottom-of-the-canal scheme ) rather than doing up the old clunkers. Newport may have done a little to change the pensinsular from staying asleep as the world passed by, but I suspect that the council rather than Newport did much of that - just look at what Redcliffe foreshore looks like now compared to Wynumm.
Now Newport has established, there's more choice with those wanting expensive not-old mcmansionish wet areas going to Newport, where the ones who want new (KDR) or developments or units look at Scarborough. I'm sure the new planning zones will make a difference but it will take 10+ years to filter through to seeing 10 cranes dotting the horizon (if ever ).

 

The Meadows - Grahams Road Strathpine

You beauty! Love the look of those prices. Cheapest at $491k on 350m2! That's only going to drive demand for established larger blocks double the size until prices are comparative. Merry Christmas!

 

Yes saw that..I bought a 3x1x1 house on a 660sqm lot for 301k ...2 years..

Loving it....I have said that Strathpine is a 500-600k plus product next boom!

 

10 Buckby Street, Strathpine, Qld 4500 - Property Details sold for $502K. Land size is 1034 m2 and it's close to the station so I'm guessing whoever bought it is land banking for now with a view to developing or selling ~2020 when the Uni at Petrie opens its doors.

 

I was reading something during the year that classes my suburb with the Hills District. I can understand the similar demographic, but we are a long way away, closer to Strathpine. O Wait, snobbery factor kicking in ....

 

People have been landbanking properties on Gympie Rd and Buckby St since at least the 70s and 80s that I know of. The Bray Park station didnt exist then, and the school had a worse reputation than it does now. We were approached by an agent back in the 80s who suggested we buy the property on the corner of Buckby and Bells Pocket Rd. I made the mistake of declining at the time, but these days I would jump at it. Darn that post natal depression, my brain was fried.

I cant imagine your middle-class tenants actually wanting to live in that block between Bells Pocket, Buckby and Gympie Rds, but of course once the main strip is cleaned up and gentrified, then it will be different.

 

But there's a coffee shop now on that corner of Gympie Rd and Buckby St and I've even seen a two piece band there on occasion on the weekends. Surely that must be enticing for the middle classes!