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Looking for my third IP - Sub $450k - advice on areas please!

Discussion in 'Where to Buy' started by BCR, 21st May, 2016.

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  1. BCR

    BCR Well-Known Member

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    Hi Guys,

    First post although have been reading for some time!

    I have 2 IP's both motoring along ok - I used PMC property buyers for my second IP in Brisbane which was a great experience...

    Now I have come to buy my third have done a fair bit of research and going through refining funnel. Need an IP with steady CG growth with a good yield 4.5-5%. Not looking for an explosion of CG at the expense of increased volatility...Im seeing lots of noise around Gold Coast opportunities however in my opinion I feel they are not as "blue chip" as buying in other areas due to their price & growth drivers.


    So far what's on the radar:

    NSW:
    Liverpool & south sydney
    Newcastle (not sure on volatility again - small town/regional)
    Wollongong

    QLD:

    Brisbane - nothing sub $450k -
    Was trying to get into Michelton, Everton park etc however they have moved way beyond $.
    Had a look at lower end like Oxley etc however some locals have advised that it's not so great and noticed some potential oversupply issues - with lots of vacant land nearby etc.

    Want freestanding house, however did consider a townhouse in paddington (QLD)

    Access to in demand schools & transport is a must.

    Keen to see what your thoughts are!

    Thanks
     
  2. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Have you thought about Newmarket as another option?
     
  3. BCR

    BCR Well-Known Member

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    Newmarket in Brisbane? No I haven't, only 5kms out of CBD I am seeing median house price at $770k so it looks too expensive.

    I would ideally like to find a suburb going through gentrification or located next to a high priced suburb that gets spillover - yes a little bit more risk than the established suburbs but easier to get in.
     
  4. norwoodman

    norwoodman Well-Known Member

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    Might find something right up at that $450k limit around Tingalpa somewhere where the median is considerably less than nearby Morningside and Cannon Hill?
     
    Bran likes this.
  5. Heinz57

    Heinz57 Well-Known Member

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    Algester
     
    Bran likes this.
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    Wellington NSW - don'tknow what's going on up there atm but they're short of retail space (nothing of substance available in the town).
     
  7. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Townhouse in Newmarket as an option
     
  8. BCR

    BCR Well-Known Member

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    Thanks All,

    Will investigate options above this week. Might have a few more Q's once I've gone through.
     
  9. standtall

    standtall Well-Known Member

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    Look at central coast and areas around Penrith .. There are pockets which are starting to go through gentrification
     
  10. Whishy

    Whishy Well-Known Member

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    Brisbane
    Kallangur. North lakes. Redcliffe. Scarborough. Deception bay

    New uni
    New rail
    Your price range
     
    Sonamic likes this.
  11. sml_nail

    sml_nail Member

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    Location:
    Newcastle, NSW
    I have an investment property I'm looking to sell in the Newcastle area that I think would fit your requirements.

    If you'd like some details please send me a message.
     
    Jason Griffiths likes this.
  12. Greyghost

    Greyghost Well-Known Member

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    Rochdale south in qld?
     
  13. BBQLD

    BBQLD New Member

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    Cannon Hill which norwoodman mentioned above there are plenty of new apartments selling under $450K. A few have completed recently, some seem to be struggling for tenants but our friends have one that they just rented for $470 per week.
     
  14. JacM

    JacM VIC Buyer's Agent Business Member

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    Location:
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    You can get into suburban Melbourne for sub $450k :)