QLD Is it risky to buy a house in Rochedale

We understand the intention of your post. At the end of the day you have to decide if you want to pay a premium to buy a new house in Rochedale/Carina/Carindale etc. New houses generally command a premium over older houses. So you have to ask yourself the question, will you pay the premium for the new house and land package or compromise and move further away from your desired area to save money and go for an older style house with more land - the same dilemma most PPOR buyers face all the time! Yes Rochedale is expensive, will it drop in value any time soon? Probably not.

 

It's massively overpriced but it sounds like you already know that so why would you even consider buying there? A 640sqm vacant block sold there recently for $738k , 18km from the city next to a dump. I recently bought a 4 bedroom house on 630sqm at taringa 6km from the city , near indro shopping centre, indooroopilly school catchments near uq etc for $815k. People want to pay a premium now because they are lazy sheep and like new houses they can easily build however wait until all the houses are 20 years old and tired , it won't be so attractive . Buy a house on the biggest block you can afford as close to the city as possible and you won't go wrong.

 

It can be done. See here:

29 Dennistoun Street Sunnybank Hills Qld 4109 - Residential Land for Sale #201910466 - realestate.com.au

This is one of my favorite streets in all of Brisbane too. Love it.

Yes it’s small but seems to be roughly in line with all those tiny blocks in Rochedale. Way, way better location too.

 

'Density is only going to rise...' New metro terminal infrastructure planned to be built near motorway next to Miles Platting Rd. New local shopping centre with supermarket now being built at junction of Gardner and Miles Platting. New local shopping being built at junction of Gardner Rd and Lorisch Way. I can safely bet that Miles Platting Rd will be upgraded...

It is expensive to build out here relatively speaking, but compared to where most of the resident migrants came from... I see a good number of Porsche, Mercedes, BMW in the neighborhood. Some love their privacy and are prepared to put up fences and auto gates. Most obviously have money and are prepared to spend in the right neighborhood.

Land price here is high for a reason. In the Rochedale Estates, all utilities are underground with Telstra high velocity fibre network. Being close to the motorway, the built requires remediation to reduce the noise level. The choicest sites seems to be closest to the motorway in a bush setting with few neighbours! Imagine double glazing as mandatory for any new build!

There is land banking in the Rochedale Estates. Some rich guys spent about $2m on about 5 plots and held on to them. The original farm owner still lives in the Estate in their original homestead surrounded by a few acreas of grass land and a sentimental rusty tractor!

 

Just be aware in the Rochdale estates you still have to pay body corporate fees if purchasing a home in the first stage.

Also noticed that villaworld is building a new estate and they dropped their prices by about 30k. I think they were advertising from about 780-790 on 350m2 and now it's about 760k all in less than 6 months.

And plenty more new land to be released.

 

I can never get over that fact. Body corporate on a free standing home. What's the point then, just go buy a townhouse for a fraction of the price.

 

Actually all stages 1-3 require body corporate fees about $2k + a year depending on the size of the land. If you are a body builder, the gym is quite useful and so are the pools. The gym is well used at some times of the day, but well fitted out. There are 2 tennis courts if you are into it. The lifestyle centre is useful for holding birthday parties in the club lounge, theater or BBQ around the smaller pool.

Across the Gardner Rd from Rochedale Estates are the Arise Estate and Rochedale Grande. I think (not sure) there are a number of operators in Rochedale Grande including Villa World and Mirvac.

 

Being in a corporate estate has the cost but there are benefits. I have mentioned access to use the swimming pools, tennis courts, gym, social lounge and theater. The estate also has an architectural code to ensure a level of standard in the houses built within the estate, takes care of the grass patch at the verge (no synthetic allowed), treeing standard and 24/7 security patrol. It can be a relief not having to maintain the facilities eg pool, to take the wear and tear of a group. Of course weigh up the pros and cons for your own situation.

 

So over $1k per sqm...
If true and banks are not accepting contracts then they are saying that there may be a small bubble. The land prices are then higher than suburbs close to the cbd.
Sure there are always exceptions - suburb in Melbourne called Greenvale for example, but if it is an owner occupier decision you are making then so be it..

 

Coopers Plains have some 405m2 but it might have changed?

 

See if you can score a bargain...I reckon Rochedale has a lot going for it.

 

I like Rochdale but I do think Carindale's better value for money.

 

The Ausbuild Gumdale enclave is now fully sold out. Not a great estate anyways as most of the houses are just next to new cleveland road which is very busy during rush hour and used by big trucks going down to Capalaba/Cleveland. The other Wakefield Parkway land sales @ Dianthus street has one last lot left but its next to a main road, not good for PPOR.

This one is a few houses away from another main road but noise should not be too bad. Only asking $650k from an out of area agency.
4/2/2 SS on 500m2
33 Foxwood Circuit Wakerley Qld 4154 - House for Sale #125252438 - realestate.com.au

Rochedale is just an investor driven market. And you will be just living next to the "big rubbish dump". MIght even have to drive past it on the way home everyday. Even though the houses are new, most of them are double storey and built right out to their boundaries and look super cramped. and just like apartments, there's just too much of that kind of "stock". There has also been a spike in break-ins in the area with asian households a popular target.

P.S. Gumdale/Wakerley did get top land value growth last year in whole of Brisbane.
'No logical explanation': Brisbane's soaring land valuations puzzle experts
[
Previous median value New median value Percentage change
Calamvale $320,000 $395,000 23.40%
Carina Heights $425,000 $500,000 17.70%
Carindale $455,000 $550,000 20.90%
Chapel Hill $380,000 $455,000 19.70%
Gumdale $365,000 $475,000 30.10%
Hamilton $750,000 $830,000 10.70%
Holland Park $455,000 $530,000 16.50%
Mackenzie $375,000 $450,000 20.00%
Robertson $530,000 $640,000 20.80%
Seven Hills $510,000 $640,000 25.50%
Sunnybank $445,000 $530,000 19.10%
Sunnybank Hills $400,000 $480,000 20.00%
Wakerley $340,000 $440,000 29.40%
]

 

Ignore Calamvale. There’s been some big blocks sell there recently to developers which distorts the average.