QLD Investing in Waterford & Beenleigh

Hi all,

I was wondering what you think about investing in Waterford QLD? I have a very poor performing property on the outskirts of Bendigo in Eaglehawk which i will be selling due to violence in the area, and being very hard to find tenants.

I have been looking at areas like Waterford & Beenleigh. Homes seem to be good value and i have come across units that are around the $240-$250K mark with $330 per week rent and stable tenants.

Would appreciate any advice from people who know these areas, or have invested in them recently.

Thanks for the assistance.

 

Avoid units in Beenleigh.. there seems some in the pipeline

 

Waterford is mostly new housing estate and farmland. A large proportion of the suburb is also a flood zone.

You may want to consider surrounding suburbs i.e. Waterford West, Bethania, Edens Landing, Holmview etc.

Personally I like Beenleigh/Eagleby and can really see this area gentrifying over Logan Central suburbs. Along with developments and changes to the town centre, this is the area where I'm seeing the most FHB's entering the market.

I would not touch units, townhouses or villas in any part of Logan in the current market. With a $240k - $250k budget you can buy a standalone house if not for just a tad more. Body Corporate for these are often through the roof and council whacks you with the same rates as houses also.
From what I've seen even heavily discounted, distressed sales are hard to move and I believe the prices for these have actually gone backwards in the past 6 months. Standalone houses are chugging along strong as ever.