Next purchase.....opinions please.

Hi All,

I've narrowed my next purchase down to either Moreton Bay/Redcliffe, Toowoomba or Perth.

If you were purchasing in the next few months with a 450k budget, which one would you go for and why?

Thanks

Willy

 

What do you hope to get out of it?
Is it a buy and hold? Do you need a certain yield? How long will you hold it for?
What type of dwelling? House, apartment or villa/townhouses?
What's your land tax exposure currently? Will buying in another state be beneficial for land tax purposes?

 

@Willy with that budget Moreton Bay any day of the week

 

Long term hold 20+ years.

House on as big a block as possible.

Balance of yield and growth. Aiming for about 4.5 to 5% gross yield.

Looong way off worrying about land tax.

In Toowoomba looking at Kearney's Spring and Centenary heights around 350k.

Redcliffe peninsula in Moreton Bay and somewhere with plenty of blood in the streets in Perth!

Willy

 

#Perth10k, plenty of choices.

You may also get lucky and snap a bargain in Vic Park (IMHO the most undervalued inner city suburb in Perth)

 

I would see if you could maybe even get something in bracken ridge or somewhere closer than moreton bay I wouldn't be in a hurry to spend 450 in moreton bay there's a lot of supply out there with a lot of potential for more supply and to be honest I think moreton bay has already had a pretty good run I don't see it doing anything special for a while I just don't get that vibe. Anything very close to the uni is already priced in for that. And the uni is only going to have so much at end of an impact it's going to take a great number of years before any volume of students are out there

 

Absolutely. Couldn't agree more. Best bet is staying away from where most of the investors have gone/ are going- as there is/will be a glut of 'rental stock'. If you can get into a BCC suburb with higher % owner occupiers you will (IMO) see better growth. Need to buy like a local when going into Brisbane, not an interstate investor going into cliche investor suburbs.

 

That is my concern with Moreton Bay is that it seems to be flavour of the month. Some of the places I've looked at have had a reasonable amount of growth over the last 3 or 4 years.

I'd be much more comfortable if I was paying less than the last person.…....enter Perth!

Willy

 

Are there many such suburbs in BCC where you have a chance of getting in at $450K?
Would extending the budget to $500k provide many more options?

Thanks

Willy

 

Any other suggestions around #Perth10k with a $450k budget?

Thanks

Willy

 

Keperra lowball night jag something for $450kish.

 

Bald Hills and Bracken Ridge are in BCC and are just within that budget. Keperra possibly but transport there is worse than the North.

 

If you can stretch to $500K I would be looking to see if you can get into a suburb within the 10-15km on the northside of Brisbane. You might get lucky with Keperra, Chermside, Chermside West, Kedron, Ferny Hills, Ferny Grove, Arana Hills, Mitchelton.

 

$450K is on the skinny side (C grade properties and main roads only), so yes $500K would help. $550K would get you into a much better suburb if you could reach that far? @Cate Bell's suggestions are good ones. I also think Brighton is a good long term play.

 

Top Moreton suburbs for more growth are in order..

Scarborough
Clontarf
Woody Point
Margate
Rothwell

Stick close to waterfront.

Sub section

Strathpine
Bray park
Kallangur
Petrie

Stay close to transport.


BCC - 450-480k (Northside)

Brighton
Deagon
Zillmere
Bracken ridge
Bald hills

Stay away from the old housing commision areas in some of those suburbs.