QLD Kallangur 2016

Does anyone know of any BAs that specialise in Moreton Bay area? I'm only after partial services whereby they just inspect and deal with agent on pricing. I did find Property Zest from searching this forum, and I have a call with them later this week; the pricing just seemed a little steep for me compared to another BA in Cairns who was half the price.

 

Went to an open in Petrie last Friday night, and there was at least 10 couples there inspecting. I suspect it would have been "sold" by the end of the weekend.

Another I looked at came on the market Thusday and was under offer at the Saturday open.

 

Not surprised. I spoke to the selling agent at pre-settlement inspection for my property. New listings are selling within a few days in most situations. They can't get enough listings.

Also coincidentally spoke to a local builder/developer that was actively looking to buy sites. Think he may have been a circling buyer for my property. We got to it first with an inspection and signed contract after a previous buyer's finance crashed. You need to be able to and have strategies to act quickly.

 

Hi Wombat could you pass on any real estate contacts for petrie

 

PM sent.

 

Any good experiences to share with PM's in the area? Will be settling shortly and would like to have someone lined up

 

Hi guys, hows tenant hunting going in the area? We had our first open home this saturday and 4 parties attended. Is that good enough?

My experience is with LJ Hooker and Bowmaker in that area. Both are OK. Or you can talk to some PMs who are active on this forum.

 

We didn't do an 'open home', we did 'inspections on request', and had a few requests on the first day.
Signed a tenant 2 days after settlement for $10 more than asking.
I dealt with Coronis.

 

I was surprised to see the vacancy rate for Kallangur last night.

SQM Research - Residential Vacancy Rates

Almost double the surrounding suburbs.

 

I reckon that will change quickly now the train line is open.
Once the uni opens will be lower again.

 

I guess its all because of the t/h complexes coming up.

 

Hi all,

I'm from Sydney but flying up to the GG this Friday the 11th of Nov and plan to take a drive to Moreton Bay for the afternoon to check out the area. At the moment, I am flying blind as in only reading off the net and looking at photos and map. Anywhere I should start off with when I drive up there?

I was thinking the Kallangur railway station first followed by the Uni and then shopping centre at Northlakes. I will take with me a couple of online listings and do a drive by as well.

 

If you're visiting MBRC, drive through Eatons Hill and Warner (notice the value and O/O appeal "further out in the suburbs"), then cut back through Bray Park, Lawnton, Petrie (along transport nodes) on your way to Kallangur to compare/contrast the price differential

 

Im flying up on wednesday 16th going to meet a few agents and get a better feel for the area
Great to have a job with flexible time

 

Enjoy the trip! Midweek is a good time as agents will likely be less busy.

 

Guys,

I am considering an IP in the Petrie, Kallangur, Lawnton, North lakes etc., suburbs to benefit from the Uni CG.

1. I am not able to understand clear benefit or demerit of one or the other areas.

2. Do you think of Uni students as your tenants or their families? if Uni students are your target tenants, how do you think of the risk of them trashing the prop, not paying rent timely, hosting parties and causing nuisance to the neighbors?

3. What are the other target tenant profiles in these neighbourhoods given these areas are far from CBD?

4. What are the key risks to know/ think about for these suburbs?

5. What is the possibility that the Uni plan falls flat? Would there still be decent (>5.5%) rental returns?

Thanks!

 

I'd avoid North Lakes due to vacancy rates. Pockets near the new station might be okay and perhaps less risk from a vacancy perspective.

Petrie and Lawnton are relatively leafy compared to parts of Kallangur and Strathpine.

It won't be all students as there will be staff as well. A revisatilised town centre is planned as well as a business hub and hospital. Employees of these elements of the planned development will also provide potential tenants.

There is also the large industrial/business park being developed at Brendale.

Flood risk is perhaps the biggest risk. Check all sites carefully, although Petrie and Kallangur have quite a bit of high ground.

Naturally if there is less demand from either employment or students, yields could fall. I would think that upward pressure on interest rates may increase demand for rentals ( trump factor and the talk of interest rate rises ).

 

I posted a little while ago saying i bought a 3br townhouse in kallangur. July 2015 purchase. Was an nras approved place so cash flow of about 9k.

Under nras you have your rent determined by the government. Our rent was just dropped 25 a week. Our agent cited too many new builds and high vacancy rate as the cause. I like nras as it gives a certain amount of protection from vacancy issues but never expected a 25 dollar drop given the hupe of the area.

For those investing in units/townhouses in the area, approach with caution.

Si

 

Hey Guys, I am about to purchase my second IP and have jumped on the Kallangur bandwagon. Kallangur fits my investment strategy and also my price point so I am looking forward to getting into the area this week.

My question is around renovation, had anyone used any local builders to manage and complete a renovation, or a PM? I am not in a position to spend a lot of time renovating but want to make sure whatever property I buy is quickly up to scratch to be rented.

Any tips from those who have renovated in Kallangur would be great!

 

PM for a reliable builder in the area. My builder has done 3 in the area for me and about to do another one.

Edit: I should add, he is not the cheapest though - he is in the middle price bracket but gets jobs done on time and good communication.