QLD North Brisbane - middle ring growing fast.

I have currently two houses side by side on a corner block in Beenleigh with dev potential and minimal holding cost and wanted to purchase north of brissie before christmas (better negotiation) for not only diversification but more of a chance of immediate capital growth. After pouring over the census data that got released last year I’ve had my eye on the Arana Hills-Ferny grove-Everton Park region for a while. High owner occ, Low vacancy rates, high household income, 30 days selling and the list goes on. I’ve put a house under offer in Arana hills in the low price bracket (deceased estate) that needs an uplift but also has “next gen” zoning. I am booked to head up there next week for the building-pest and actually see it first hand. Seen video walk though live of house and google maps ect only. All looked good from my end but I had a friend of a friend who is a property manager in brissie cbd who drove past the property yesterday to call me to say do not buy this property as he likened the street to the show “the House’ous” and the suburb is a reflection of Woodbridge. For me this was a shock and had put me in doubt as with paying mid 4’s for a house I want the area to be gentrifying and appeal to young couples to aspire to live at with proximity and transport to cbd. I was going to “get out of deal” after these strong words as I still can with cooling off period but after some thoughts perhaps I’ll still go up next week to see for myself. Any thoughts guys on the ground in Arana. Am I missing something here. Is there still streets to stay away from as there is in logan? Would love some feedback
Cheers, Youngbull

 

So you are booked in to inspect first-hand yet thinking about pulling out due to the opinion of a friend of a friend..

Go look for yourself. Then make a decision.

 

Mid 400s is pretty cheap for that area.

Sounds like the guy doesn't know what he's talking about in regard to the suburb though. Maybe he doesn't leave the inner suburbs often

 

Wish you wrote this yesterday, I could have driven past when I went to Mitchy for a meeting. I have no idea what your friend of a friend was on about - perhaps he wants to sell you an inner city apartment? Please PM me.

 

Housos cant afford to live this close to Brisbane

 

What suburbs?

 

Gold Coast has had a good run recently it's done better than Brisbane and recent months bi reports I've seen Mount Tamborine is part of the Gold Coast it's where you want to live when you want trees and forests around but still be close to the Gold Coast it's a bit like places like Montville on the Sunshine Coast are still quite expensive even though not by water. they are just pretty locations

 

Strathpine, Bald Hills, Bracken Ridge, Petrie. They all have gone up significantly on paper valuations than my purchase price and I've just had a look at the moving medians of these suburbs are are also up.

If lending was easier I would be inclined to say Brisbane would be moving much faster. Lets all hope lending eases up next year when royal commission is fully done. Without lending markets wont be moving much at all.

 

Aranahills have good and bad area. I bought a property next to Aranahills, did full Reno and rented pretty quickly. Recently tenant moved out, I was able to find tenant with even 5% higher rent. 4 family inspected, 2 couple submitted application. Young guys are walking through now days. I think too many units and tc are coming by next year or two. So potential for capital gain.

Your frieds’ Friend may never ever been there that is why he compares with Woodridge.
Since the property is its mid 400, it is obvious area or property is not up to the standard. Be prepare to rent even high 300 unless you turn the stone.

Good luck.

 

Why Kallangur still struggle since uni is in walking distance? Still I couldn’t see much difference to Petrie and Kallangur, pretty much same socio economic people. Some of the properties are selling in 2007 prices.

 

Have a look at the new development that's underway in Everton park. Should be great for the local area once its complete.

Construction Starts on New Laneway Precinct for Everton Park

 

@YoungBull can you post the link for these 'next gen' rezoning please?

 

Jana I agree Petrie prices you may as well go closer to Brisbane for low to mid 4s it’s only a university Kallangur is still much cheaper and close to the uni and closer to North Lakes that’s why I bought there

 

And all the papers and media reports. Sell!!!

 

Do you want the suburb to be gentrifying or gentrified?

 

Building wealth is a highly personal endeavour. 90% of external influences/feedback/reports are irrelevant to individual investor's situations .

 

Nice!! That's an easy 1.7k walk from my IP.

 

1.7k walk in Brisbane summer probably not nice when going out for dinner

 

Hey Guys,
Just a follow up regarding my possible purchase in Arana Hills. I was up there on wedneday for building/pest, meet Pm's and trades for the first half of day. the second half was driving through most streets, surrounding suburbs, going into cafes's, shops, leauges club ect. I have the house unconditional now and will settle late January so as you can see actually going up in person and not listening to one persons opinion paid dividends. All the impressive data I found related to what I saw the old fashioned way on the ground. I could not be more happy with my purchase and how the suburb and the neigbouring suburbs were from a feel perspective and to the eye. If only I had the finance and cash flow to purchase more right now. I can see these suburbs doing very well over the next ten years for so many reasons.

 

Further to add I will be looking to do a kitchen renovation and bathroom in the coming weeks so if any one who has prior done one in the area and can recommend me someone, please P.M me. Cheers