Next locations

Hey there!

Looking to purchase another property and I'm not too sure where to look at.
I've got 1 property in the Kallangur/Petrie area and one in Geelong.

I have a budget of about 400-500k and I'm thinking as close to Brisbane as I can get?
And try to get as close as I can to 5% of CF which may be difficult in the inner Brisbane ring.

I can see people mentioning Werribee in the forum but I'm not too sure if I want to invest other there with Melbourne probably going to get flat in the next few years.

Any recommendations?

Thanks

 

You should be able to find a decent compromise where you trade-off closeness to the city and yield. Your budget gets you into a huge variety of areas so it's hard to give good advice off that alone. I'd be trying to avoid any units and townhouses even if the yield is attractive because most everyone is quite cold on these all over Brisbane... it looks like it'll be a while before we hit the end of that.

Personally, for Brisbane south side I'd check out Acacia Ridge, Eight Mile Plains, Kuraby, Runcorn. For the east, I'm a fan of Carina and Tingalpa in particular -mostly for affordability reasons-. I'd also check out Zillmere and surrounds for the north eastern side, because there's a lot going into the Brisbane to Airport corridor in the next decade or so.
That all being said, I tend to sniff around the lower end of the market for areas that are undervalued compared to their neighbours, which doesn't necessarily fit your investment strategy.