QLD Kallangur 2021

The good news is that the planned infrastructure for the next 10 years at The Mill PDA, represents a strong driver of stability and CG for the area as a whole.

 

Absolute steal of the month. Established 3 bedder in decent condition, on 607m, just up the road from the Uni. Even has a view. Sold for $520k.

https://www.realestate.com.au/sold/property-house-qld-kallangur-137132590

Keep in mind the official listing states 6 bedrooms, but reading the description, it says 3 bedrooms and 3 utility rooms. Great to see Real Estate Agents maintaining their general reputation.....

 

I believe this property went under offer a few weeks back. Still a great deal, but also shows just how quickly prices have gone up because that would get close to $600k if it was sold today.

 

Looking at the pics, there’s a few rooms in the house that could do with some minor touch ups. Spending $5k-$10k on touch ups could easily push it towards $600k in this market.

 

Yep. I reckon this went too cheaply. As JAW said owners should have done a minor cheap cosmetic reno and get into closer to the $600k range.

 

The yield on that is incredible too. Cash flow positive, potentially covering majority of principal payments too on a P+I loan.

 

If the 3 "utility" rooms can be used as viable bedrooms, it also makes it a very unique rental proposition for any large families that must have the bedroom space.

It's hard enough to find a property with 5 viable bedroom spaces, let alone 6.

It's always intriguing to come across the various phrases of non-bonafide lingo used by agents to try and pitch non-bedrooms as bedrooms. From "Utility rooms", to "Zoom rooms" to "Complimentary recharge rooms", I think I've heard it all.

 

You know the market is red hot when the vast majority of properties for sale don't even have a listed price or price estimate, they're simply "For Sale".

https://m.realestate.com.au/buy/in-kallangur,+qld+4503/list-1

Let the brutal offer/bidding wars continue...

 

Yep. If you're set on buying in this market, I think you have to take the mindset that you won't let good be the enemy of great. There's no bargains, so buy the best land that you're comfortable paying for.

 

Asking price for this basic established 3 bedder on 619m is $595k. Seems very high. Will be interesting to see where it lands.

https://www.realestate.com.au/property-house-qld-kallangur-137365810

If it can hit $600k, it will be one of the new watermarks for an established 3 bedder in the area.

 

It's actually already been sold for that amount. I had put an offer in earlier in the week and was informed that it ended up selling "just under $600k".

Definitely well and truly over priced, but I guess that's just the market now.

 

Just under $600k is an amazing result. There’s certainly no unique selling point for that particular property to make it stand out from others. It’s about as vanilla as a property in the general area can be.

Evidently, buyers really are keen to lock in a property, even at a premium, to avoid repeating the wash/rinse/repeat cycle of trying to secure a property and failing.

 

Yep that's right. I've been looking for about a month now and it feels like prices have gone up about 10% in that time and all of a sudden I've been priced out. Logan is starting to look even more inviting now.

Speaking to agents, they're selling very little off the market and owners always want at least one open home, so as a buyer it's impossible to get in early and try get a decent price now. You just have to offer the most you can and hope it's enough, regardless of whether or not the property is worth that amount.

 

Yep, after 2 months of unsuccessful searching I’ve bowed out of the Moreton Bay market sadly. Off to Logan I go, hopefully some better luck down there!

 

At the very entry level end of the South East QLD market, Eagleby in the Logan region might be worth considering. It’s a very low socio economic area, but if minimal entry into the hot market that SE QLD is atm is your focus, maybe be it’s worth considering.

 

$490k per week for a simple 4 bedder on a small block.

https://www.realestate.com.au/property-house-qld-kallangur-416362861

Just under $1000 a fortnight rental for a basic 4 bedder on a small block isn’t too shabby in this market, and would no doubt be in the red after all is said and done.

 

Prices have escalated for Logan too in the past 2 months.

 

https://www.realestate.com.au/sold/property-house-qld-kallangur-137113954

Enquired about this one and it was under contract within a few days of listing and I was prepared to offer more than what it sold for. Agent dropped the ball on this one I think cause although it's a 2 bedder, that location is super convenient.

 

Being a 2 bedder can always be hard sell for a free standing house in any market, but even so, at that price, $446k, its still exceptional value. Put aside $60-$70k for an extension for a 3rd bedroom with an ensuite, and you'd have a place easily worth $580k+ in this crazy market.

 

Hi all, I am new the site and am looking at buying an IP in Brisbane. I have been looking at Kallangur, Strathpine, Morayfield or on the opposite side around Logan. I rang for two properties today in Kallangur but both were contracted, have I missed the boat (not based on missed properties today) based on good gains already? Or do you feel it will continue to rise and out shine Logan or other comparative price points over the next 5-10 years? This will be my first investment so want to get a good foundation and was looking where I am in Cairns but have since changed my tact to hopefully get some solid CG in Brisbane. Thanks for your time