QLD Hype Moreton Bay Shire Qld

Better get your skates on.....the whole area has moved...opportunities still exist...but will require savy negotiating to take it off the market.

Like the saying goes ....you snooze you lose....

 

I'm a big fan of the Moreton Bay region. I have bought my last two properties there - both are decent reno jobs.

• D-Bay in Dec 2015 - Bought for $232 + $22K reno (we used CBA and got reval of $299K and renting now for $340/week)
• Kallangur purchased last week for $253K + $20K reno required (on a very small block but a comparable size property sold on adjacent street 3 months ago for $290K - will rent for $340/week after completion)

I agree with @sash It is an absolute **** fight trying to get properties in this area at a good price now.
Before I picked up the Kallangur property, I bid at 2 auctions (one had 12 bidders, and the other had 8 bidders) and went well over what I thought reasonable, put in around 6-7 offers (half of which were unconditional offers) to no avail. I do admit, I did low ball a few times but they were cash unconditional offers.
Certainly competing against more buyers in this region lately. Even since Nov/Dec, I reckon D-Bay has moved $20-30K.

Also I was reading a Domain article a couple weeks back and North Lakes/Mango Hill was the only QLD suburb that made it onto the Top 10 for Australia's Largest Growing Suburbs:
New figures reveal Australia's fastest growing suburbs

I am super keen to keep investing in this area up until mid this year, but I've hit land tax now and I calculated next property I buy (if I was to buy in QLD), I would be taxed around $2.5K-$3K which is a dampner on CF.

 

Consider buying in a trust in Qld... you should get a new threshold

Types of owner for land tax | Environment, land and water | Queensland Government

 

Nice work with the recent purchases.

What sort of reno's did you undertake on the properties? Were there serious issues that needed to be addressed to make the property habitable or was it mainly cosmetic?

 

It is only starting mate...only starting....

Wait till masses figure out you can 500 meters to water for less than 400k!!!

That should make Dbay, Clontarf, Margate, Scarborough, Kippa Ring, Redcliffe, and Woody Point explode.

Oh by the way ...there is company called Stockland....they just released some blocks near Kippa Ring.....starting price is high 2s.....should get interesting...

 

I do not think I will be doing anything anyway in the area, not this time, unless we see something we can live in at some point & have great potential.

Certainly have no fear of missing out, plenty of options.

 

...plenty of options...just that stuff under 350k is going the way of the Dodo.....

 

When the big boys like this buy in....the whole area changes......this will put the Redcliffe peninsula on the map.....

Newport - Real Estate in Newport, Qld

 

Would of liked to buy in clontarf, margate a few years ago in the mid to high twos but unfortunately could only afford one property in bris
Not sure i see the value in these areas any more as they are getting closer to the 400k mark.
Kind of reminds me of frankston

Low socio economic area, fibro shacks everywhere, not well regarded by brisbane locals

At the end of the day for the values to push past the 400k mark you need a massive increase in rental demand - this pushes yields up and keeps it attractive for investors
This will not happen

Or you need the area to become popular with ppor buyers. Which judging by what i hear locals say about the area is not happening.

It will happen one day but dont get caught out by the ridiculous ramping on this forum

There was a thread on redcliffe peninsula years ago on somersoft full of sydney hype and this could well be the start of another similar thread

 

Yeah I reckon. I think the area will get a boost from the new rail and uni but let's to be honest, its still the outer areas of Brisbane.

 

I take it that you do not approve Sash ?

 

People in Redcliffe do commute to the CBD for work and yes the traffic is dreadful...there is always talk of a rail link at election time and then it appears to fizzle out.

There are older homes circa 1970's/80's on good parcels of land in Bracken Ridge, Eaton's Hill, Ferny Grove at good buy in prices that is a suburb with strong rental demand and growth, post-war homes closer to the CBD is another good option to explore such as areas like Stafford (7 km from CBD) if not on a main road, Stafford Heights, Everton Park (although prices are moving up quickly here), Mitchelton to name a few suburbs closer to the CBD that still have affordable buy in prices.

 

The rail link to Kippa-Ring is certain and due for completion soon? Do you mean there has been talk of the rail link being further extended past Kippa-Ring?

Thanks for the advice regarding the other suburbs, will be sure to check them out.

 

I am more inclined in investing in the areas between westfield northlakes and the uni. I think this area and the peninsula has the potential to become its own hub. There is no coincidence that Ikea, Costco and Westfield are all opening up in this area, plus the uni, rail and highway upgrade. In terms of both % growth and medium price, I think there is a strong possibility that the Moreton bay region (in the areas of Mango Hill, Petrie, Kallangur) over taking areas in Brisbane such as Bracken Ridge.

 

Nah...I like it...it will be great for the area (near Brendale) a hop step and jump where I bought at Strathpine.

Great to see more infrastructure going in.

Also look at Stockton's Newport development....those boys don't do things to lose money. They also bring schools, hospitals and shopping centres as part of their developments.

 

Thread was done in tongue and cheek. For the record a both FHB and investors are now driving that market in. When companies like stockland start charging 300k a block near areas near Kippa

Companies like Stockland doe no invest in areas unless there is potential and generally their target market is middle class in suburban areas??

I recommended this shire to @Taku Ekanayake and he has taken it town in the last 18 months.

 

Kippa Ring is my understanding too

 

Thanks @Aether. Nothing too major. All cosmetic. No structural.
Things including painting, new parts of bath and kitchen, guttering, fencing, floor polishing etc...

 

If you just stick to Eliabeth ave all the way to Rothwell you will miss the best parts without following the coast.

 

Go Kippa