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QLD Newbie looking to buy in Brisbane Eastern Suburbs

Discussion in 'Where to Buy' started by Ben22, 27th Sep, 2015.

  1. Ben22

    Ben22 New Member

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    27th Sep, 2015
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    Hi All, I'm new to this.

    I'm currently looking at purchasing either a 1 or 2 bedroom unit around the Cannon Hill area. I also qualify for the 1st Home Owners Grant of $15,000.

    With all the new Apartments being built in the area, I'm starting to think I should hold off for 6 months. I don't really want to purchase an older unit at close to full price, while there's a lot of units being built in the area.

    I'd prefer a New Apartment, but as a 1st home owner I don't want to "Buy off the Plan".

    Thoughts of the Cannon Hill area?

    Thanks :)
     
  2. Angel

    Angel Well-Known Member

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    Why Cannon Hill?
     
  3. Ben22

    Ben22 New Member

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    I live in the Area already, other places I'm looking at are Greenslopes, Annerley and the surrounding suburbs.
     
  4. Bran

    Bran Well-Known Member

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    Stay away from Greenslopes. Nothing to see there



    ;)
     
  5. dabbler

    dabbler Well-Known Member

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    If I was buying my own home, I would buy an older place myself, or at least established, no OTP....

    I do not know much about Brisbane, but that area is ok from what I know. You have to decide where you will live.
     
  6. JDP1

    JDP1 Well-Known Member

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    I like the cannon hill area. It's gentrifying a fair bit. If you can get one with views of the city that will be a bonus. It's a moderately priced area because it has some bogans /low socio econon.. But that's what also makes it affordable and the gentrification will see it as a higher end place in 10 years or so.
    Edit: just did some more basic research on cannon hill and it has moved quite a bit in the last yr...and they seem to be low days on the market.
     
  7. HUGH72

    HUGH72 Well-Known Member

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    I like the area, the inner south east has already moved a bit price wise. Close to the CBD, train nearby and surrounded by more expensive suburbs. Plently happening in the area, Goggle East Village, there is some serious development planned for the area and lots of new infrastructure. I think a house and land will do very well but its not cheap by Brissy standards. Much of of land near Wynnum rd has been rezoned by the looks of it.
    Over supply of units could potentially be a problem down the track but land will only become more valuable here IMO.
     
  8. Angel

    Angel Well-Known Member

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    Location:
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    Queensland buyers can be better off forfeiting the grant and buying an older house. If all you can afford is a unit, you can get one that has been built but not purchased yet - I understand that would still qualify for the grant. Can you find a villa/townhouse in a small complex that has its own land content and a garden/courtyard.