QLD Kallangur 2016

Have 2 in Brissy-North Lakes & Waterford

 

Nice nice, how's Westfield North Lakes by the way up there? Had a look online, looks quite nice actually specially with the new laneway restaurants and the fresh food market place. Also heard there was an extension to that in the plan, with new shops coming along. Has that already happened or still under construction?

 

think @Angel knows the area better than me

 

I was last there in January. The Cinema was under construction. Another section of the north-south arterial road is under construction too which should relieve some local traffic.

Don't know any more. We went to Scarborough this morning and met our newest tenant. He is a single gentleman who would love to stay as long as possible. He works in the industrial estate at Virginia and does shift work.
None of our tenants have ever worked in the CBD.

 

It depends on a lot of things, including body corporate fees etc...
I would prefer a separate house myself, especially when you're getting out that far.

 

So i just returned from my trip in Brisbane, liked what i saw around the Kallangur/North Lakes area. Even though its quite clear there is immense oversupply in regards to new town houses being built at the moment. Specially around the Westfield North Lakes, other then that the vibe around Kallangur/North Lakes was pleasing. There is plenty going on which is great, specially infrastructure wise new roads being built to help congestion of the traffic, specially around Anzac Avenue/Old Gympie Road. And also to shorten the travelling distance from certain areas in Kallangur to Northlakes shopping centre. The new train station wasn't open yet, but like i said just driving around quite a few new roads being built, new servos (7/11 & Shell) and other shops popping up everywhere on the corners (i think they are adding to/renovating the Kallangur shops also) by the looks of it. Plenty of brand new townhouse estates being built, i think i saw more then 5-6 different ones just driving from Kallangur to Northlakes. Few new apartment complexes being built around the Westfield Northlakes. For me who's from Melbourne if i had to actually compare the Northlakes/Kallangur ''vibe'', i would honestly compare it to like Doncaster/Templestowe/Donvale area, but that of 10 years ago.

Went driving around the Slacks Creek/Woodridge areas too, how do i say this, driving through the several streets that the houses i was inspecting were in, i felt i was back in USA driving through the slums with my cousin. Specially Slacks Creek. It looked like driving through landlord hell to be honest. Then again, i'm not one to judge a suburb by its cover but from the 30-45 minutes i was driving through the several streets i came across broken windows, snapped off letter boxes, bbq's/drinking parties in front lawns with islanders partying (nothing wrong with that mind you), i even a garage door having been ripped off and just thrown onto the side of the drive way. Even when i was lost, i stopped in one of the streets to play around with my navigator only to look up and see i was being stared down by 2 islanders who clearly could tell i was an outsider and i don't think they liked it . Needless to say, i couldn't get out of there fast enough.

Mind you, most of what i mentioned if not majority of that all applies only to Slacks Creek. Woodridge was much better.

Then on the way decided to drive around Mount Gravatt, Holland Park West etc before returning back to my hotel, beautiful suburbs those two. Probably did around 300km's of driving on the Saturday just driving around various suburbs around Brissy.

Then on the Sunday took a day trip down to GC, where i went and had a look at Oxenford/Hemmant areas and awarded myself with a couple of hours by the beach and enjoying a swim, which was great. Would love to have me a get away apartment in Surfers down the track, definitely hope to be able to tick that off sometime. Mum (who i took with me for a tiny birthday get away) absolutely loved it down there, so see what happens. I won't rule anything out at this stage

Anyways, i did find something in Kallangur which was the reason for actually travelling down to Brissy in the first place. I wanted to be able to have a look at the area close up and get a feel of it. Found a 4-1-2 on a 615 block, close to the new roadwork's being done at Old Gympie Road, train station, shops (coles, take away shops + others), close drive to Westfield Northlakes. What really stood out about this place, something which my mum also pointed out was that the ground floor was already being used as a bedroom but very, very poorly done. Pretty much the owner had just put a desk, a bed and some gym equipment in storage/garage area and called it a bedroom. Quite a spacious area too being way under utilised.

Minor renovation down the track turn it into a proper living/studio area with a further kitchen/bathroom area would def be on the cards, even a simple re-paint. Nothing that needs to be done on the asap but an option for further down the track, something i would def consider doing. Seen it done properly on several properties down in Brissy and if done properly it looks great and good way of being able to increase rent/value if need be. Again, not something that needed to be done on the asap as the property itself was in good condition.

Anyways, sorry for the long essay! Ended up being much longer then i expected it to be.

Cheers

 

I like your comparison to Doncaster and Templestowe. If Kallangur could be as good as those suburbs in 10 years time, I'd be very happy. Big difference is that Doncaster and Templestowe always have lots of Chinese living there. Kallangur not as attractive for them.

 

I don't think they will be as good as those suburbs in 10 years, (then again i don't have a crystal ball) but even if they become half as good or even 1/3 as those suburbs in terms of value/growth whoever invested there would have done very well i think. My point was the vibe, driving through them reminded me much of those kind of suburbs back home. Which in itself, is a great compliment.

I can see that changing to an extent even though i don't think it'll matter too much, maybe not in the short term but def in the next 5-10 years, specially after the Uni has been built and a few years following its completion. Spoke to a few of the locals who believe the influx of Indians/Asians have already increased a bit. One of the things i couldn't get a clear answer on was the future revamp of the Kallangur city centre, which would be great if they gave an exact date of completion! From what i gathered with whatever they have going on there at the moment, its more likely to be when, not if it gets finished.

 

Kallangur city?

 

Hi Ashi
This is the second time this afternoon I have been told that Moreton is nicer than Logan. Keep it up.

 

Ashimashi, you might want to check out the Kallangur area along Dohles Rocks road. It'll be easy walking distance to the new Kallangur train station (due to open mid this year) and walking distance to the new Moreton Bay University precinct(USC), due to open 2020. The area is set to be an investor's delight in a few years time.

 

How many properties do you own in Kallangur @JAW? Certainly hyping it to the max, I think I've commited Dohles Rocks Rd to memory forever now through rote learning via your posts.

 

I bought in Bray Park last year, which is close to Kallangur. I quite liked the area and chose it over purchasing in Logan. These suburbs had a much nicer feel, and with the uni being built in the area we will hopefully see some growth in the future.

 

Hey Amberlee,

I have 2 IP's in Kallangur, and one at North Lakes. As an ex real estate agent, I can see the huge growth and potential across Moreton Bay for investment properties along the new Moreton Bay Rail Link corridor, and for price vs short term and mid term growth and capital gain, this particular area close to Dohles can't be beat.

Come 2020, people will look back and be shocked that homes on decent sized blocks were available in the area for just over $300k 4 years ago.

I'm already considering selling my I.P. at North Lakes and buying another I.P. close to this area, maybe Murrumba Downs, as I suspect CG in NL will begin to soften come the end of 2016 once the IKEA has finished. This way I'll be able to sell the NL I.P. for a high return, and use the profit to buy another cheap place with high potential for quick growth. And so the cycle continues

Glad to help!

 

I agree, anything in the Kallangur area in that vicinity will be a decent pick up. The property I'm looking at, is only a bit further up anyways (Brickworks Road, off Old Gympie Rd). Plenty of infrastructure happening around Old Gympie Road, so traffic and traveling should be much better in the next year or so. I am def looking at a long term hold strategy in that area+ renovate down the track adding that extra living area/studio/bathroom space hopefully turning it into a 5-2-2. I believe not only the opening/lead up of the new Uni is when the growth will happen, most important will be the 5-10 years following its completion because of their plan to cater up to 10,000 students between 2020-2030. It'll take time but it'll only get better.

As long as you get a decent sized block in Kallangur at the moment, 550-600m2 plus.

If you dont mind me asking, did it take you long to manage to find a tenant for your IP's in Kallangur?

 

@JAW , why don't you just use the equity in your NL IP to buy again instead of paying all the costs associated with selling to get a small profit. Wouldn't it be better to buy and hold and fund future purchases with equity if you think the area has good medium to long term prospects for CG?

 

Hi again Amberlee,

Over the next 6-12 months I'll be looking at the best long term strategy for my NL I.P. As NL is fast becoming it's own business hub for the Northside of Brisbane, finding tenants will never be an issue, which is always great. Just a shame that there's no train line running through NL, but there is next door at Mango Hill, which isn't too far.

Finding tenants for my I.P.'s in Kallangur has been much easier over the past 12 months than prior, and I suspect it will get easier as the local infrastructure unfolds. I always look for properties that are tiled and have a half decent sized backyard. This puts me in the unique position of offering a property that I can happily rent out that supports pets, without having to worry about carpet stains. Most tenants with pets are always happy to pay a little more in rent, as many owners don't want tenants with pets. Works for me

 

The Chinese love new brick houses so Kallangur may be attractive to them once a few of them settle in the area. If the new university gets a good reputation then we'll see heaps wanting to live in the area. Quality secondary education is also important for the Chinese . Does anyone know what the schools are like in Kallangur?

 

Word on the street is that you could pick up this property for $217K
20 Alpha Street Kallangur Qld 4503 - House for Sale #122273410 - realestate.com.au

It's been gutted, and has had termite damage. I was told $80-$90K job, or just do a knock down & rebuild.
I reckon put in a cash unconditional offer for $200K would do the job. Pick up less than land val

 

Hi guys,

Can anyone share the current rental demand for Kallangur? According to SQM Research vacancy rate is currently sitting at 3.6% which is extremely high. And a quick search on rental listing shows at least 49+ properties vacant for rent.

Are there lots of new townhouse complex being developed at the moment?

Cheers,
David