QLD Kallangur 2019

Discussion in 'Where to Buy' started by JAW, 3rd Jan, 2019.

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  1. Jana

    Jana Well-Known Member

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    How do you know MBRC allow Granny within 2km from station?
     
  2. David Shih

    David Shih Mortgage Broker Business Member

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    Yes you can. The MBRC council site has stated explicitly:
    "Note: The secondary dwelling can be separately leased from the primary dwelling"
    Source: Secondary dwelling - MBRC Planning Scheme

    I think you might be mis-interpreting it. The way I read it is that Arana & Ferny Hills are under MBRC so GF can be rented out separately, whereas if you move 2km south to another suburb then property would fall under BCC and therefore GF cannot be rented out separately.

    Very different rules but literally only few km apart.

    Cheers,
    David
     
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  3. JAW

    JAW Well-Known Member

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    "Top 5 Best Suburbs to Buy in Brisbane’s Outer North"

    1. Best Suburb #4 : Kallangur
      My fourth pick for great places to invest in Brisbane’s outer north would definitely be Kallangur! Kallangur’s just 26km north of the Brisbane CBD and has great access to the freeway. Whether you’re travelling south to the city and airport, or north to the beautiful beaches of the Sunshine Coast, savvy buyers can still pick up homes for $350,000. Kallangur is just 5mins drive from Westfield North Lakes, plus you’ll also find IKEA, Costco and the North Lakes Golf Club are all just a stone’s throw away. Being an older suburb, many of the blocks in Kallangur are 607sqm+.

      With Kallangur having such close proximity to the upcoming University of the Sunshine Coast (Petrie campus), we’re finding many investors are looking to buy here now, whilst it’s still affordable. The USC Petrie campus is due to open in 2020. The new campus will offer a full range of undergraduate and postgraduate programs, and projected numbers are set to grow to 10,000 students in its first decade. All of these students, plus the teachers, professors and administrative staff will all need accommodation close to the university. Given that Kallangur is just 5mins drive from Petrie, I’d recommend crunching the numbers to invest in this great area now.


    Source: Top 5 Best Suburbs to Buy in Brisbane's Outer North | Calibre Real Estate
     
  4. hash_investor

    hash_investor Well-Known Member

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    Thanks. But I guess renting a granny will be challenging in mbrc. How big your block needs to be?
     
  5. David Shih

    David Shih Mortgage Broker Business Member

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    55m2, 2 bedroom – land size over 450m2 min frontage 15m
    45m2, 2 bedroom – land size over 450m2 if frontage less than 15m

    This is the note I've had back in 2016 so not sure whether things have changed now. It doesn't seem to be that easy to work out from the council website nowadays as it depends on which zone/precinct you're in, so I would say might be quicker to give council a call and find out :oops:

    Cheers,
    David
     
  6. Joshua Boctorani

    Joshua Boctorani Member

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    I'm quiet fond of MBRC as there are no restrictions on land size for duplex & dual occupancy lots (if you want to build & develop in a next generation zone). With a 25 metre frontage there is no need for an impact assessment & away you go. Stay next to the water & away from the investor belt (Morayfield etc) & I think you're in the money.
     
  7. SydneyInvestor

    SydneyInvestor Well-Known Member

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    I have checked a couple of houses in Kallangur to weigh average growth in the area. But it seems the growth rate average has been around 4.5% only. For eg , look at this :
    https://www.realestate.com.au/property/9-spring-rd-kallangur-qld-4503

    In 24 years, from 135k to 400k, property rose only by 4.6% each year. Not a very exciting result.

    Also rental increases are not happening in area. Have heard their is ample supply of new devs to absorb new university students. This will impact capital growth and rental market both.
     
  8. nth brisbanite

    nth brisbanite Well-Known Member

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    I think that the price of 400k is the worst case scenario. The range from realestate.com is from 400 - 450. What would the rate have been if the price was 425k? I think that a minimum of 4.6% is a reasonable result, if you take into account inflation, so if it continued on like this for the next 14 years it should double. If you are an investor, shouldn't the overall yield be higher because you need to take into rent received?
     
  9. SydneyInvestor

    SydneyInvestor Well-Known Member

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    400k is the actual price on which house was sold in 2017. Taking into overall account, it would decrease as rents do not cover all costs. 46% growth is not an encouraging growth rate
     
  10. Yinka Dare

    Yinka Dare Well-Known Member

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    It’s not great compared to Melbourne and Sydney, but you can’t look at the past 10 years. That has been and gone. Recently the area has got a lot of new infrastructure such as a railway, university, big shopping centres etc. I’d be looking forwards, not backwards with growth in many suburbs in this area. Population growth is expected to be good around Moreton Bay in next 5 years too. My 2 cents
     
  11. SydneyInvestor

    SydneyInvestor Well-Known Member

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    I would be happy if that happens :)
    Just pondering words of my PM though saying enough stock already in this area. No chances of rent increase or near term growth because of oversupply
     
  12. Yinka Dare

    Yinka Dare Well-Known Member

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    I think there are better areas than Kallangur. I’d be thinking closer to the water. Don’t have to pay much more either. Melbourne and Sydney etc prices both inflated anywhere near decent beaches
     
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  13. SydneyInvestor

    SydneyInvestor Well-Known Member

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    Thanks @Yinka Dare , can you please name a couple
     
  14. Yinka Dare

    Yinka Dare Well-Known Member

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    I like Redcliffe as it’s got that lifestyle feel, a beach, cafes and new infrastructure - bridge, railway, university close by. The tip in Redcliffe is to not pay the asking price. Kipparing I feel is also good value as you can get 5% yields and I feel the capital growth will be good. Both of these you can get a house for 400-430k on a 600sqm block.

    I do think Deception Bay will be good value but I think it would be a 5 year hold minimum to get full value. Can probably get close to a 6% yoekd here. The stigma of ‘conception bay’ will eventually change and lots happening in the area and surrounds. With the right tenant here you would have a good buy.

    From what agents have said many dodgy tenants from areas like Redcliffe have moved into kallangular,

    Obviously if you have more to spend I think there are places in the 5-600k range closer to the city that will see good growth faster. With prices still cheap in Brisbane and the govt spending huge money on infrastructure, I think the price ‘wave’ increase will be good in a few years as a flow on from the city prices. New inffrsdture also is a good sign for future growth
     
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  15. Angel

    Angel Well-Known Member Premium Member

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    It's Depression Bay
     
  16. hash_investor

    hash_investor Well-Known Member

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    Its a good thing if it has not grown much. It has potential.
     
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  17. Jana

    Jana Well-Known Member

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    How do you guys find rental demand in Kallangur for land and house? Generally highset rent in high 300 or low 400. How is the current demand? Anyone rented recently? Seems everyone say too many supply, I guess townhouses wouldn’t affect that much the land and house rental demand.
     
  18. Angel

    Angel Well-Known Member Premium Member

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    @Jana, people move to Kallangur for no other reason than they cant afford anywhere better. The cheaper the rent, the faster it is tenanted. As more and more complexes are developed for cheap rentals, the more everything else has to compete with them. There will always be some demand for larger family homes, but the percentage of single people is rising and demand for smaller places is limitless.
     
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  19. JAW

    JAW Well-Known Member

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  20. JAW

    JAW Well-Known Member

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