Melbourne West or Brisbane

Discussion in 'Where to Buy' started by FindingaGem, 5th Aug, 2018.

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Melbourne West or Brisbane with 500k

Poll closed 12th Aug, 2018.
  1. Melbourne West

    21 vote(s)
    33.3%
  2. Brisbane

    42 vote(s)
    66.7%
  1. FindingaGem

    FindingaGem Member

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    Hi All,

    New to this Forum and properties in general - FHB here. Looking to buy PPOR which will later become our first IP on a 500k budget. Werribee is now out of our reach and we looking into Melton. However with news on growth potential in Brisbane we have been considering brisbane. What do you guys think, Melbourne West (I mean Werribee, Melton, brookfield etc) vs Brisbane. Which is a smarter move? Please ignore all other factors such as relocation etc. If you had 500k where would would you rather invest it for a buy and hold strategy with a future potential for rental income- Brisbane or Melbourne West. If Brisbane, please mention where in Brisbane and if you have better locations in Melbourne, please feel free to drop your suggestions too.
     
  2. Whitecat

    Whitecat Well-Known Member

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    Brisbane. Zillmere. Block with options close to train
    Melbourne has had a big run. Its now falling. West will fall most
     
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  3. albanga

    albanga Well-Known Member

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    Brisbane for me.
    Melbourne has peaked and the areas on your budget are not great choices.
    So falling market in poor growth areas = bad investment.

    Throw in you would need to live in Melton! Then I would rent in a nice area and invest in Brisbane.
     
  4. ellejay

    ellejay Well-Known Member

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    I've just sold in Melb West. The market has peaked.
     
  5. David Shih

    David Shih Mortgage Broker Business Member

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    Another vote on Brisbane for me. You may not see an imminent boom but it is consistently growing now in the middle ring, just in a slow & boring rate so media doesn't hype about it much (as it doesn't attract eyeballs).

    With a bit of luck you may still be able to find properties around Arana Hills/Ferny Grove just shy of 500K, with some value add that you can do in order to manufacture equity down the track.

    Cheers,
    David
     
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  6. ndpjai

    ndpjai Well-Known Member

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    Brisbane, you can get closer to CBD than Melbourne, good luck.
     
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  7. JL1

    JL1 Well-Known Member

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    I've been stand-offish with brisbane for the last year but the numbers are turning. There was a period of over-approvals through 2016 which is showing itself now in apartment completions and price stalls, but approvals have corrected and population growth is picking up and only getting better as Melbourne and Sydney stall. Basically there is more demand side potential in brisbane than Melbourne, which has passed peak demand and peak migration while approvals keep increasing.

    I would stay away from apartments still, and look for decent inner suburban picks and the likes of what Whitecat is suggesting.
     
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  8. strongy1986

    strongy1986 Well-Known Member

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    500k in Brisbane you can live in a pretty good suburb
    500k in melbourne and you are living in shitsville
    if you are set on melbourne you could also consider outer east around belgrave. which would be a bit nicer than other areas mentioned
     
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  9. Sackie

    Sackie Well-Known Member

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    Brisbane . Middle ring or as close to it as possible. House on larger block. Add value potential . Good OO area.

    Done.
     
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  10. sash

    sash Well-Known Member

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    When did get out to Melbourne last outer suburbs?
     
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  11. DrunkSailor

    DrunkSailor Well-Known Member

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    8 votes for Melbourne but no comments for why they believe so.
     
  12. hieund85

    hieund85 Well-Known Member

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    Lots of markets in Melbourne has passed and are at its peak right now, not a good time to buy unless you really know what you are doing and can find cracking deals like some experts on this forum. For a normal investor, I just stay away.
     
  13. Mike A

    Mike A Well-Known Member

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    you say this will be your PPOR. where would be the better opportunities for employment and income earning opportunities ?
     
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  14. Otie

    Otie Well-Known Member

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    I voted Melb due to the jobs. I would feel more secure job wise in Melbourne rather than Brisbane. I would rather have plenty of work options rather than a cheaper buy in price on a house. I also think that long term Melbourne will still outperform. That is only my opinion, nothing else.
     
  15. Mike A

    Mike A Well-Known Member

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    Thats my feeling as well. Many global companies have opened offices in melbourne or planning to. The same isnt happening in brisbane

    If global companies have done their research and determined that is where the talent lies then would be foolish to ignore that.
     
  16. icic

    icic Well-Known Member

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    Brisbane is a easy win for me. Melbourne housing market has peaked and are falling faster than Sydney recently and international migration peaked also with the recent cut back from 190k to 158k people.

    I have picked Brisbane because of the following reasons:

    1. Economy is recovering with resource sector and tourism.
    2. Interstate migration is ramping up big time with 7700 people for the quarter to December 2017(ABS). If this trend continues, it could reach 35000 people for the year by the end of 2018.
    3. Huge building and infrastructure projects underway or in the pipeline: Queens wharf, Brisbane Live, Second runway, new cruise ship terminal, cross city metro etc...
    4. more new office buildings and reduced office vacancies(more white collar jobs)
    5. Oversupply of apartments are being absorbed faster than most would have thought. Vacancies has been reduced and rent has stablised and has gone up slightly.
    6. Huge affordability advantage compared to Melbourne.
     
    Last edited: 10th Aug, 2018
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  17. DrunkSailor

    DrunkSailor Well-Known Member

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    But Melbourne over Sydney? Sydney is Australia’s top city and has come off its peak for 10 months now. Shouldn’t Sydney be the number one priority to get into.
     
  18. DrunkSailor

    DrunkSailor Well-Known Member

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    I thought about that too but then lost confidence in the idea when I remember global tech companies were propping up in Ireland during their boom. Not sure if it’s the same situation.
     
  19. Mike A

    Mike A Well-Known Member

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    I believe different reasons. Many global corporates set up in ireland due to their very low corporate tax rate. Less about talent and was more about establishing a permanent establishment for transfer pricing and tax reasons.
     
  20. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    ^^ This