After some thoughts people. Apologies I am a bit of a rookie here. Looking at investing in northern Brisbane, considering townhouses in Woody Point and houses in Deception Bay. Thoughts on growth potential over next 10-12 years in these areas ?
I think good growth because if you stick near the bay, long term there would be more demand for the amount of supply, now that the rail has gone in. IMO the area should gentrify and become more desirable for families (rather than only being retirees and pensioners). Personally I would go for the "full house" as close to the bay as possible in the Redcliffe Peninsula. Rule of thumb is "East of Oxley" - much of the area is Urban zoned and Next Gen zoned so it has potential for higher density, great for owners. But if you are on a budget you'll struggle to be able to buy something. So still go as close to the bay as you can though. Deception Bay, have a look at the area. You could pick up something in the Urban or Next Generation Zone - that would be my focus. In my opinion, you don't go there for the bay... its quite a disappointment (quite apt for the name), but check it out yourself. Again, go for the full house on land preferably. The good thing is, it's still very affordable and has a lot of potential for price rises.
Just be aware that infrastructure charges are high for development in Moreton Bay. $22k for each additional 2-bedder and $28k for each additional 3-bedder. Eats into development profits. i.e. Knock down a house and build 4 x 3-bedder townhouses and you would be paying $84k in contributions ( 3 x $28k ).
I would be thinking a house in Woody Point, closer to CBD. Or back in Strathpine/Petrie/Bray Park leveraging off the train /university. These suburbs have already increased in the last three years. Anywhere on the peninsula requires travelling to the new train stations unless you get something really close within walking distance. In that case it will probably be a long way from the waterfront. There is a tiny sweet spot near Klinger Rd.
Our bray park gained over 10% equity last year without even touching it. It needs cosmetic renos also (we bought under value) bring on the uni!