Hi all, new to this forum. I'm scouting out potential spots for investment in Brisbane and this forum has been really helpful. One of the areas I'm looking at is Inala but have heard mixed reviews. I came across this thread recently which demonstrates these diverse opinions. http://www.homely.com.au/inala-brisbane-brisbane-queensland/questions/inala-is-a-great-place-to-buy Curious why the suburb has (had?) such a bad rep? Has the ship sailed for investment in Inala or is there still great upside in the area? Appreciate any feedback.
It would have been a great place to buy back when prices were at their bottom, maybe 2011, 2012. It's about risk vs. reward. Back then I would have taken a chance. Now that all markets have lifted, I would only buy there if it was a bargain - I'd rather park my money elsewhere. Downside: area has had a bad rep historically. Upside: mainly Vietnamese population, a group which has in the past improved faster than most other minority groups. They're very hard working and the next generation tends to go on to be very successful.
It's one of the worst suburbs in the region as far demographics go, but much of a muchness around there really. As far as buying in such an area, plenty of people have made money in 'interesting' suburbs. Do plenty of research on previous performance, if it's closer to the previous peak it's probably a good sign. But there has been plenty of interest down that area for quite a while so probably not many bargains around.
Thanks @jaybean for the quick response! Yeah, I've heard sentiments from other people as well re: timeline. It may be too late for a good investment area. Curious, is the rise in property value attributed to any gentrification in this suburb or purely because of the overall lift in the market? I ask bc if the former, may demonstrate some solid fundamentals in services, etc.
Yes it has. Some of the restaurants around there have become quite trendy and I've heard many of my friends talk about heading out there to eat (people who would ordinarily never venture outside Sunnybank for asian food).
Yup exactly. Cabramatta was a drug ravaged area but culturally the Vietnamese tend to do a pretty good job of advancing themselves. There's a very strong cultural emphasis on education and self improvement and you tend to see subsequent generations come out very strongly. I expect to see the same for Inala. But this is more likely a long term thing, so I'm not willing to place a medium term bet on a long term pay off unless I get a discount.
Just from the sidelines as our daughters went to a school with several Vietnamese from that area who's parents came to Australia on Boats with "sfa" in the late 1970's and have added so much to Australian culture, and who worked like farm animals to give their kids a better life then they ever had ,but Inala is different now most of the Sudanese that lived prior in Moorooka now live Inala not that there is anything wrong with that ,everybody has to start somewhere,from a investment side the inner core would still core would still be good investment wise,because of the size of the blocks compared with all the new estates that are outside the central area,between logan which is 60% rural and inala which is not i know which one if i was starting out again i would invest in..imho..
The problem was, and still is, drugs. I know a local health worker and we talked about this over beers last week. It would be a great area - good culture, vietnamese markets, great shopping mall, lovely houses - but for the drugs. And those who do the drugs are allegedly one of two occupations - thief or prostitute.
