Hi, I’m looking to buy an IP in QLD up to $750K-$800K. I am considering the below: Sunshine Coast: Sippy Downs, Little Mountain, Buderim, Coolum, Caloundra Brisbane: Mt Gravatt, Ferny Hills, Woolloongabba My ideal requirement is to have good yield (OK with a bit of negative gearing) and potential for capital growth. any recommendations on where you’d invest? Or if there’s areas I haven’t listed?
@Hills123 - what had you shortlist Mt Gravatt, Ferny Hills, Woolloongabba? I'd consider the fundamentals and what's going for the areas. Having said that Brisbane last had a boom in 2009 and the market is playing catch up.
I think Wolloongabba is out of your budget. Ferny Grove/Ferny Hills have solid brick/low maintenance houses on train line.
You’ll struggle to get something reasonable in Coolum for that… perhaps something that requires quite a bit of work. I think Wolloongabba would also be out of that price range.
Curious to know which location did you settle in for the budget you had? Will appreciate your findings and update if any.
Hi Momentum, I ended up buying two properties as I had $1.5M to play with: IP 1 - settled in July, bought for $550K 4/2/2 on a 600m2 land in Augustine Heights - I chose this area due to the yield and infrastructure being built (new public hospital, new stadium etc.) - achieved 5% gross yield, was able to rent out before property even settled IP 2 - still under offer for $950K in Chapel Hill on a 800m2 + land for a 4/2/2 house, waiting for B&P report - I chose this area due to the potential to add value (older house) + capital growth - will likely achieve 4% gross yield, read about the area and it is an in demand area with good schools, proximity to cbd and looking at historical trends it has been steadily increasing - fingers crossed nothing comes back wrong from the B&P report!!
Congratulations on your purchases! I think you have done very well. Especially the 800m2 Chapel Hill investment. Can’t go wrong
