QLD Looking to buy first IP on Brisbane

Discussion in 'Where to Buy' started by TUF250, 23rd Aug, 2018.

Join Australia's most dynamic and respected property investment community
  1. TUF250

    TUF250 Member

    Joined:
    9th Aug, 2018
    Posts:
    18
    Location:
    Melbourne
    Hi everyone.

    I have been reading through the forum for a long time, so much great info on this page it is a credit to those who cobtribute. My wife and I are researching for our first investment property at the moment. We have finance ready, but are struggling to decide exactly where to start. We plan on using a BA for the whole process if interstate but we are trying to narrow down the options.

    We are looking at something for the medium to longer term and hopefully it willwill be the first property of a few at least.

    We are focusing onon Brisbane in light of the view of moderate growth compared toto othernarrow ccapital cities over the next few years. What are othe're views of this prediction and the general Brisbane market? We are also considering sunshine coast and bendigo.

    I guess we are trying to capture some early capital growth so that we can use it for the next property. As a guide we are hoping to spend about 400k.

    Thank you
     
  2. David Shih

    David Shih Mortgage Broker Business Member

    Joined:
    21st Jun, 2015
    Posts:
    1,034
    Location:
    Sydney
    I would say Brissie will get there but it'll be slow and steady growth. Don't expect to see crazy jumps like Sydney and Melbourne. Most Sydney/Melbourne investors have observed this and expect the same, so just need to get the expectation right. Buy when you're ready with the idea of long term hold - IMO wealth is created in RE long term.

    For $400K budget go as close to Brissie CBD as you can afford I guess. Since you're using a BA they should be able to understand what you're trying to achieve and provide some suburb recommendations.

    Cheers,
    David
     
    Sackie and Propertunity like this.
  3. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    Go close to transport, house with land .. 400K won't get you near CBD at all, unless you buy a unit and that wouldn't be such a good move.
     
  4. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,719
    Location:
    South East Queensland
    When you talk Brisbane, are you looking specifically within Brisbane Council area, or also some regionals like Ipswich, Logan, Redlands, Moreton Shire, Gold Coast?
    ____________________________________________________

    Here's a few areas you might be interested in within Brisbane Council that will easily fall within Budget.

    (Northern Suburbs)
    *Lots of infrastructure coming in between Brisbane and Airport, this is a great corridor.
    - Zillmere (Marginal budget for Zillmere, but a great spot if you can get a good deal!)
    - Bracken Ridge (Decent area to consider, marked for good growth)
    - Fitzgibbon (Marginal budget, worth a look for a great deal)
    - Boondal (Good spot)
    - Wynnum (Marginal budget, lovely spot)

    (South Western Suburbs)
    *Typically desirable and solidly performing areas, mostly established, many lower socio-economic. Should grow well.
    - Forest Lake (nicer than the others), Durack, Inala, Richlands, Darra, Ellen Grove, Wacol, etc. Be careful with ****** neighbourhoods here (i.e. parts of Inala).

    (Central South Suburbs)
    - Acacia Ridge (VERY marginal budget, but a great spot if you get a good deal, future development land)
    - Algester (Great area, quality tenants, should continue to benefit from the Sunnybank boom)

    (Far Western Suburbs)
    - Karana Downs, Anstead, Bellbowrie. Not historically a great performing investment area, but great quality of tenants and a nice spot, worth a look over.