North Brisbane Investment Locations

Hello

We are purchasing our first investment property. Very exciting but nerve wracking at the same time. We have short listed three suburbs in North Brisbane based on steady growth and within 25 km to CBD. The finalists are Bald Hills, Strathpine and Bray Park.

We have a budget of $500k and are purchasing to hold for capital growth and a better yield then in Melbourne (to diversify and allow us to buy next in Melbourne).

I am keen to get others opinions or advice on what they think would be the better option. We are not on the ground so any tips as well from those that know the areas would be great.

Cheers
StaceyLen

 

Hi Stacey,

Congrats on getting started. Another suburb you might wanna checkout and do DD on is Chermside. And it's alot closer to the CBD than those suburbs. If you can maybe stretch your budget a tad, buy an older home in a good area with add value potential. Could be a winner.

A cut out from a recent article:

1. SUBURBS AROUND CHERMSIDE

An area that is becoming increasingly gentrified, the suburbs around Chermside such as Geebung, Wavell Heights and Kedron are proving to be in high demand for young professionals and offers one of the affordable routes in the property investment market in Brisbane.

As one of Brisbane’s fastest developing commercial hubs, Chermside has gained a reputation as the mini CBD of the city. Home to the largest Westfield shopping complex in Australia as well as key amenities such as two hospitals, Chermside has a lot to offer.



I posted this in another thread, I also try to satisfy these 3 criteria when buying:


1. Can I buy it at a good price, or what I consider to be BMV
2. Can I add value at some point to manufacture some equity so I'm not totally reliant on organic growth.
3. Am I buying in a high demand or potentially high demand area with good growth drivers

Best of luck.

 

I'm eagerly watching this thread. I am also looking to buy my first IP. It will most likely be in the Brisbane area at this stage. I have to say though, on an aesthetic level, Brisbane real-estate does not have a lot going for it, in my opinion Brisbane has some of the ugliest real-estate in Australia, a lot of shabby looking things on stilts.... now Adelaide on the other hand...wow, those beautiful period built stone cottages..mmmm.. but unfortunately my research is not pointing towards Adelaide, it's pointing towards cane toad country. Are there any nice beaches near Brisbane ? Whats the point of living near the water if there's no nice beaches ?

 

You have the Gold Coast an hour to the south and the sunshine cost an hour to the north, no shortage of great beaches to pick from.

 

Some of the best performing IPs I've bought in Brissy looked ugly. To me the uglier the better. Worst house, best street approach with add value potential. I'm totally unemotional when buying what I think will make a good investment.

 

Hi ,

2 of those suburbs are in the MBRC ( Strathpine/Bray Park) and Bald Hills is BCC.

If you are keen on other MBRC suburbs in the 500k max budget , I would suggest you look at Clontarf , Woody Point or Margate. These suburbs might remind you of the Mornington Peninsula down there, as they are located on the Redcliffe Peninsula up here they are serviced by numerous schools( private and public) , rail via Kippa Ring or Sandgate, all 3 of the above suburbs fit within a 500k budget and all have short walks to waterfront locations. 35-40min from CBD or 20-25min to airport.

On the other hand there is also Brighton or Deagon in the BCC that might fit in the 500k budget ,also north of Brisbane. Both have rail close by , schools and higher owner occupied.

Strathpine / Bray Park does have a university getting built close by but also has alot of unit , townhome development to cover the demand, one might say it will be over-supplied to a degree with accommodation for that reason. They are great suburbs with rail , shopping around schools also but just throwing it out there to consider the coastal suburbs if you are buying further out from CBD.

Pay attention to land size in MBRC, as lots of potential to add a second dwelling.( Extra income)

 

Sounds like great advice

 

If your chasing beaches Sunshine coast , Gold Coast are both in driving distances otherwise Redcliffe Peninsula has swimmable water 35min from CBD.

 

Margate beach qld - Google Search

Clontarf beach qld - Google Search

 

Only 35 to 40 mins from some Logan Suburbs like Loganholme.

 

Can I ask why you’ve targeted properties at $500k?

 

Remember when you are buying an IP you are buying a product to service a customer. It is not what you like as an aesthetic, how it looks to you, rather what the customer, the tenant, is looking for.
If they live in such houses and the demographics dictate that then don't worry about it, it is not a house you plan to live in.
All my IPs that have been purchased, not once have been lived in by me, so buying for yourselves to live in is an emotional decision whereas buying and IP should be a strategic economic decisions.
Similar decision making process should apply to fixtures and fittings, what tenants/owners want in this particular suburb?

 

Thanks @Sackie - love your advice and looked at the area and agree but we cannot stretch our budget to that.
@Dane64 we are targeting up to $500k as we also want to purchase in Melbourne after this one. We will do a renovator though to build up our equity. And quite frankly, a renovator is all we could afford in Melbourne
@Peninsula Property - I also really liked Clontarf as we looked at Redcliffe Peninsula as well. I suppose what was appealing with Bald Hills, Strathpine and Bray Park is we may be able to get a larger block with potential for another dwelling down the track.

Thank you for all of your advice.

 

i have a place in strathpine with a GF. love it. great tenants, great suburb. good bones, did a cosmetic reno and no dramas since. if you are thinking of adding a GF, look for a corner block or one that can provide a separate drive. ours is on a corner block and its like we have two houses for the price of one.