Moreton Bay region or Logan Region

Which region is best to buy..considering rentals, capital growth and good schooling?
Buying property for 448 sq m brand new house in Mango hills for 575k is prudent decision or buying same size in Park ridge ( Logan)?

 

why not buy an existing property (house with land) in Moreton Bay ( not particularly Mango Hills)?

$575k sounds a lot in Mango Hills

 

Even I felt so..with FOHG, its going to cost mt 555k and the builder is platation homes.
what other areas in Moreton region?
Big NO to logan region?

 

What about closer into Brisbane itself?

 

For 575k i would buy closer in. If budget under 500k i would buy in Moreton Bay region over Logan.

 

please advice areas closer to Brisbane.

 

There are other threads on Brisbane if you do a search where other members have offered good advice on Brissy suburbs around this price range to purchase a family home on a decent size block of land (500m2 or a bit more). My suggestions for this price range in Brissy would be:
- Take a look at the centenary suburbs (Jindalee, Middle Park and surrounding) and on the other side of the freeway ( Mount Ommaney,17 mile rocks, Oxley). You can pick up 3/4 beds x 2 bath freestanding homes around this price range (550-600k). Decent schools, plenty of shops, good freeway access. With the Legacy way tunnel now built they have good access to the airport and city (although you have to pay) and are decent established middle class suburbs around 20-25km from the city. Although always check the flood maps in these suburbs. I would also look at Ferny Hills and surrounding suburbs but there are other posts with more detail on these suburbs if you do a search.
Speak to some agents. I recommend calling Matt O'Neill from Place (selling agent) and Chase Bursnall from Rent Star (property managers). They know the southern western suburbs (Centenary suburbs) very well and are always happy to offer advice and Chase and his team will go and do rental estimates on properties for you. I have been very happy with Rentstar, they are the best managers i have and i own in almost every State. For long term price growth and good tenants i prefer these suburbs over Moreton Bay but if i had 450-500k i would go for Moreton Bay.

 

Your budget is around the median price for Brisbane. Therefore half of all properties for sale in Brisbane will be at or below your budget. Why would you be considering a place so far away from the CBD?

In Moreton Bay, my large house in North Lakes would cost you less than $550k. It is on 650m2 land, freshly renovated and a ten minute walk to the private colleges. An established family home in Strathpine or Bray Park, 30 minutes by train to Central station, would cost way under $500k.

 

Agree, I have 4 there

Deception Bay bought for 235k...now 325k...expect it to hit 400k plus
Strathpine bought for 301k....now 420k expect it to hit 500k plus
Margate bought for 251k...now 410k expect it to hit 500k plus
Clontarg bought for 325k...now 450k expect it to hit 550k plus

No huge gains. yet..but I expect in the 2 years it will come

 

If houses in Mango Hill are worth $575k, I'll have to see if mine has increased in value since September/October last year!

 

For $550k you can buy alot closer to CBD. I would suggest doing that.

If however you are after cashflow then Logan and Moreton Bay are the right choices. I think Logan would provide higher cashflow though. I have a few in both councils + 1 in ipswich and the rest in Brisbane council.

 

I have IPs in both Logan & Moreton Bay areas so here are my thoughts:

1. If you want to capitalize on the new USC coming in 2020, then go for areas with existing stock that are near Petrie - like Kallangur, Strathpine, Lawnton etc. Houses in these areas are around 350K to 450K budget. Otherwise go as close to Redcliffe area is another option (close to water which is an X factor).

2. If yield is important to you then look at Logan. My Logan properties are in lower socio-economic areas so while yield is fantastic CG-wise isn't as great. I bought them in order to balance out the yield of my portfolio. If you do want to go down this path then I would suggest avoid the lower socio-economic areas and find a more balanced area - maybe try existing house in areas like Browns Plains, Boronia Heights, Crestmead/Marsden. These will have more owner occupier appeal and therefore better from CG potential perspective.

3. If your budget is 500K plus definitely look closer to Brisbane CBD to maximize your CG potential. Look for areas as close to CBD as possible within your budget - maybe around Everton Park, Ferny/Arana Hills area - where there is an established public transport infrastructure and shopping centre. These would command around 500 - 600K (existing house) and yield wouldn't be as good in comparison with Moreton Bay/Logan area.

4. Unless you want to pay developer premium don't go for brand new house. Suggest you look at buying existing house and learn how to do value add to manufacture your own equity instead

Cheers,
David

 

$575,000 is ENORMOUSLY expensive for Park Ridge or Mango Hill! You should be looking at well under $500,000 for a well equipped house in Park Ridge.

 

All I wana a new property in a good area considering good primary schools and that too ready to move in.
There are hardly properties available in Brisbane under 10-12 kms radius from city.
Only townhouses are available.

 

What do you call a good school? We dont have shootings in Australia.

Plenty of houses in that budget between 10 and 20 klms from Brisbane CBD, ready to move into. If the house is bigger than a caravan, it is livable.

 

I meant good school rating.

 

Where exactly, sububrs please?

 

@Sac if looking at Moreton Bay and you have that sort of budget then consider an (ideally) 600sqm block with a 15m frontage. Look for zoning "Urban Neighbourhood" (can build units/townhouses) or "Next-gen Neighbourhood" (better suits townhouses). Large scale rezoning occurred 2015 near the new train line and in the areas of Scarbourough, Clontarf close to the water. This approach allows opportunity to add value later on by redeveloping. If you find one, you may need to move quickly. There will be lots of competition for good sites with these characteristics.

 

Why new?

 

Rather than buying old in new suburb I believe to buy new one in new suburub..thats the only reason.
ok with.3-4 years old..but not more than that