I am looking at buying an investment property in Mango Hill or Dinmore. Does anyone have information on the Market
I got investment property in Kallangur, next to Mango Hill, although I haven't been following the market recently. But I like the suburb, the general area should get some good growth with the developments near north lake, uni, plus the train line. On top the MBC seems to be pretty pro development.
Perhaps the other suburbs have more going for it right at this moment? North lakes has Westfield and is going to be a massive business park. Kallangur has heaps of shops, priced cheap, and the uni will be right there (there will be a Kallangur entry). Isn't parts of Mango Hill also flood zone? The train line is still young.. it will bring more people. That whole area will be doing very well 3 years from now.
High vacancy rates are just caused by oversupply. There has been a surge of new development housing in North Lakes and Mango Hill. Lots of investors buying H&L packages over serveral years. Unfortunately too much sold to investors. When I did my research trip in October last year I recall seeing lots of hand painted signs on fences advertising houses for rent. Desperation of people competing to get their housing rented.
You want to be careful buying in the Dinmore area, heaps of underground land movement from old mining tunnels.
New house and land package? I'd look at an existing property in Deception Bay or Rothwell or Kippa-ring which will most likely be have larger land size than Mango Hill.
Hi there. I work for Harcourts and am very good professional friends with our Mango Hill office. I am only too happy to have someone email you some information for investment..
Ooodles of new housing Mango Hill, North Lakes, Dakabin and Griffin. As wombat77 said- it would be causing an oversupply. I work in Kallangur and drove through Griffin last week for a bit of a look see. A huge complex of about 50 new townhouses have been built in the last year since I had a look. Lots of new housing on tiny blocks. Lots of new land cleared. I was told recently by a property maintenance fellow that Murrumba Downs is 65 percent rentals which suprised me. Not sure how this person had this statistic or where they got it. Had to google Dinmore lol.
Maybe certain pockets are 65% rental but suburb overall is showing rentals @ 30% as per Census stats below..
it all depends on what type of property one is getting. If you are buying a townhouse or a small cookie cutter H&L package then you are in for a bad ride. But if you are getting a development block with some nice yield, i bet 3-5 yr down the track you be laughing. The whole area is gentrifying, lots of new houses, new family moving in, new shops, new bussiness centres, gyms ect. The rental demand maybe soft now, but the big fish is the long term capital gain (again gain will be had on land not house).
I am looking at one of newly built townhouses in Mango Hill using the FHOG. The points I am considering is proximity to the shopping centre and train station. Any thoughts?
Can you please elaborate what you mean by "If you are buying a townhouse or a small cookie cutter H&L package then you are in for a bad ride."? Thanks.
There are heaps of new townhouses and H&L packages coming up and will continue for the next 3yrs at least. As time goes by your new townhouse becomes old and people wanting to buy new will move on to the next one. What you want is buy an established house with sizable land component in the right zone. Hold it for 3-5 yrs and then either develop it yourself or sell it.