QLD Hype Moreton Bay Shire Qld

Thanks for the useful updates - the North lakes employment hub will be to deception bay what the uni will be for kallangur...hopefully turn the tide for gentrification with oo replacing investors and public housing as it is sold off...

 

Interesting info -- thanks!

 

My primary concern with Deception Bay is it's total lack of infrastructure, both currently and in the long term. With terrible public transport, no direct railway line access, very low socioeconomic areas just 1 street back from the water, a half complete shopping complex extension that's rotting as the development budget ran out so it wasn't completed, and no plans for significant future developments, it's only benefit is that it's close to the water.

For me, it's worth a look in 15-20 years, but not for now.

 

I've not looked in to how these are selling, but there are quite a few new contructions of up to 5 story apartment buildings. Almost all would have island views. The starting price in these units is more than I paid for my 3 bedroom home in the area in 2012. Admittedly, ours was very cheap, but there is a lot of faith in the area with the nearly 10 different projects currently selling or under construction. Almost all by the same local architect.

 

Interesting - thanks for sharing the latest on the ground!

Personally though I would suggest to stick with existing rather than new. As for apartments the likes of 3 storey walk-ups with low strata, close would be my pick. Given the new constructions and as you observed, these existing apartment prices should get lifted up over time as well.

My question though - do you think the rental supply will outweigh demand around the area given there are 10 different ongoing projects currently?

Cheers,
David

 

I wouldn't be able to say. I don't follow rental vacancies in my area, especially in units. Anecdotally, it seems that 'for rent' signs do not stay up for very long around here. The more run down houses or near new houses seem to take the longest. I suspect in both cases, they're asking too much for them.

 

Hot tips for the Queensland property market

From the article:

Where to go
Investors should be directing their attention to the north of Brisbane, as Mr Glossop said this region features tighter supply.

“There’s still areas there which are going to be some turnover of some larger blocks of land that are going to be cut up into smaller portions, but that Morton Bay region from Kippering, the peninsula down towards the Petrie University campus, further down towards probably Boondall, Nudgee, over towards Sandgate, they’re regions there which are already fully developed,” he said.

“They’re now going into zoning changes backfill, and I think the next five to 10 years there is looking good. Vacancy rates are still 2–2.5 per cent and you’re seeing 5-ish per cent yield in a market where we’re probably seeing money get a little bit cheaper in the next six months; I don’t mind it.”

 

I personally agree, just because my strategy is now for inner or middle rings as I am now a more active investor, so that area is a bit far.
In addition I look at demographics in the area, are they gentrifying or changing, whether incomes are rising (incomes there still below BRI median weekly earnings), owner to occupier ratios (I like to stay below 30% for renters), availability of surrounding land (more available can be developed will dilute the prices in the future), infrastructure and other points like you mentioned.
But have 2 IPs built many years ago that I keep, as passive investor then, as they did ok and have great tenants (Wynnum West and Warner).

 

New amendments to be viewed from Monday 24th June.

https://www.moretonbay.qld.gov.au/f...ormation-sheet-1-general-residential-zone.pdf

 

Interesting!

There would be a flood of DAs in at the moment as they are waiving council contributions for developments "largely underway" by the end of the year.

I imagine these changes are partly capturing feedback on DAs.

 

From the letter from Council:
"It is important to note this amendment does not include some of the proposed changes previously advertised in 2017 including emerging community and investigation areas."

This refers to, in part, the huge DA underway in the Warner Investigation Area across current rural residential (in the old vocabulary) min 3000m2 land and State Govt declared significant Koala Habitat. It appears Council is ignoring all pleas to preserve the Koala Corridor and the current amenity of the bushland between EH and Warner.

I have discovered that if you want to know what's happening in a suburb, you join its Community Facebook page as well as rely on council's official development mailing list.