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North Brisbane

Discussion in 'Where to Buy' started by Mr Dabolina, 24th Dec, 2015.

  1. Mr Dabolina

    Mr Dabolina Well-Known Member

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    Hi all

    I'm doing a quick trip to the North of Brisbane next week and was hoping I can get some advice/thoughts on form some locals or people who have already done some research in the areas of Bray park, Bald Hills, Strathpine and surrounds.

    I'm looking at an IP under $400k - house, with good yield but primarily focused on CG.

    Looking forward to some advice and let me know if you are free for a coffee catch-up!
     
    MJS1034 likes this.
  2. allisterlm

    allisterlm Member

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    Hi @Mr Dabolina,

    We've been keeping our eye on the area for a while and have bought there in the last couple of months. What sort of advice/thoughts are you after exactly?

    Some initial thoughts:

    1. Be careful of flood zones. MBRC has a good flood report tool here: Flood Check Property Report

    2. In my opinion, it's not that difficult to find something under $400k with a yield close to the median (around 5.3%). The ones that get a bit higher tend to be highsets with extra utility rooms and bathrooms underneath. If you want even better yields, you really need to find a good deal and buy something under value.
     
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  3. Mr Dabolina

    Mr Dabolina Well-Known Member

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    @allisterlm thanks for your comments. Yep - aware of checking the flood zones.

    I'd like to get some local knowledge on parts/streets to avoid and whether these are seen as desirable suburbs to live in by families. Is one of the suburbs better than the other in your books and why..subjective I know but like to consider the facts/numbers with some perceptions.
     
  4. 4point5million

    4point5million Well-Known Member

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    How active are buyers up there? Anyone been to opens lately?
     
  5. Angel

    Angel Well-Known Member

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    In general, the brick estates are more desirable than sections of timber/hardiplank houses. Elevated land is more desirable than down in a hollow. You will see what I mean when driving around. There are some large complexes of low-income/govt units especially in Lawnton and on the east side of Gympie Rd behind the Strathpine shopping strip. Lawnton has always been the least desirable suburb. In my opinion, all three suburbs are desirable for families and young couples. Stay off the main thoroughfare roads like Kensington Way and Samsonvale Rd. - constant traffic. Traffic around schools can be heavy too. I have noticed Bald Hills Primary School and St Pauls would attract different demographics than Bray Park and Strathpine West. Historically Bald Hills is more expensive simply because it is in Brisbane City Council.
     
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  6. allisterlm

    allisterlm Member

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    Yep, I agree with everything @Angel has said.

    In addition - brick estates are more desirable and many go for around the $400k plus mark. However from what we've seen, they do not tend to get any higher rent than the timber/weatherboard houses. We've seen decent weatherboard places going around $355k-$390k range, but most 3bed/1bath places (which are in most demand in my opinion) seem to rent for $380-390 per week. 3/2 (with utility/rumpus and extra bathroom downstairs) seem to rent for a touch more.

    Lawnton seems less desirable, though it may have the most potential for CG out of the Strathpine/Bray Park/Lawnton area. It's further north so closer to Northlakes development and Petrie university, plus the Moreton Bay Rail Link will link it out to Kippa Ring. It seems to be a little cheaper than Bray Park/Strathpine at the moment.

    My preference is to stick to the west side of Gympie Road and the railway line, and closer in to the train line/Strathpine Centre. The further west you go, the closer you get to the newer estates in Warner and Joyner and you are competing for rent prices with brand new places.

    @4point5million, we were at opens at the end of November. Wasn't crash hot - maybe 3 or 4 interested parties per place. We were also up two weeks ago and we were the only ones at quite a few places - granted it was pouring and pretty close to the end of the year.
     
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  7. allisterlm

    allisterlm Member

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  8. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Just bought a place in Sydney (currently in cooling off period)... your talk of the 400k houses....
    Omg. Perspective... 400k only just covers our 20% deposit plus stamp duty and other fees for the house we're buying, 16km out from the city centre.
     
  9. RSN83

    RSN83 Member

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    That's why so many of us newbies are priced out of Sydney :)
    I hope one day I can say that 400k covered the the deposit. 2020 goals :)
     
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  10. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Yup. Go Brissie where properties are still very much in reach of the FHB!
     
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  11. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I was up yesterday with a client for some private inspections (he had an offer accepted) and have a couple of others looking around there at present.

    From what I've seen and heard, it's fairly quiet. Agents have been seeing some investor interest of late though.
     
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  12. Eric Wu

    Eric Wu Mortgage Broker Business Member

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    congratulations Linda!
     
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  13. Whitecat

    Whitecat Well-Known Member

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    That would get you a nice house 2km from cbd in bne
     
  14. Whitecat

    Whitecat Well-Known Member

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    North Brisbanite reporting in.
    Of op's options i like strathpine. Near the centre. Has a mall. Is kind of a hub. Like a more povo version of chermside.
    I would try to get walking distance to that mall and train precinct. For an IP I think that's not a bad option.
    Also just drove through beenleigh today. For a while there back in 08 that was kind of hot on SS. Used to be pretty cheap. Not sure what is doing now. It's a little similar to the suburbs OP is taking about.
     
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  15. Mr Dabolina

    Mr Dabolina Well-Known Member

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  16. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I think the amount we are paying in total for our 1 Sydney home purchase would get 2 pretty solidly good houses ~2km out from Brisbane city centre. But that's ok!
    The area i'm buying has been extremely popular for a long time and I have no reason to believe it will be anything but that going forward. It's a gorgeous street, already excellent for transport and come 2019 there will be even more trains!!! :D
     
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  17. Mr Dabolina

    Mr Dabolina Well-Known Member

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    Is this for your PPOR or IP?
     
  18. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Ppor.... I may Airbnb some rooms though. :)
    Its a nice layout with an additional 2 living areas I'd call ideal for Airbnbing or as student accommodation below, 1 of which I'd call a bedroom, the other a living, both attached with a private wide balcony. There's a uni within walking distance (3km walk gets you to the middle of the uni) or its a very quick and easy bus ride away. Downstairs has its own bathroom too. :)

    It's also on over 1000sqm of land... (corner block, no easements!) and under the current council it's subdividable (STCA), the block is open to the East, North and South, I've only got a neighbouring building to the West which is ideal.

    The council boundaries will change though (based on government plans) so we may or may not be permitted to subdivide in future due to regulations of the new council. However the new council it is pretty generous in terms of building in general though, it likes to see higher density. Note that the street is in a "Conservation area" and the house is heritage listed... I can't change the front (and I wouldn't want to change it anyway). But the back isn't subject to the same.
    Its an extremely rare one of a kind house...

    Anyway, without serious money behind us there's no way I would have been able to consider buying the place... believe it or not we weren't planning to buy. I just saw some open homes signs on the street and ducked in for a squizz (as you do....).

    Thought the place would have been well over 2 mill.... I was very pleasantly surprised! Lots of positives for the new place. We will need to sell the old place (I hope the market will not have gone cold in 2016) and I am planning to sell an IP too (the area the IP is in is still hot) so we have minimal PPOR debt after trading up. Plus I'd be up for waaaayyyy too much land tax if the old ppor isn't sold next year...
     
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  19. Whitecat

    Whitecat Well-Known Member

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    Post details when it settles
     
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  20. sash

    sash Well-Known Member

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    Awkie...better get your skates on.....selling the old PPOR ....the market is not healthy in Sydney...things are sitting...even in Northern suburbs which were hot.....not scare mongering...but you are right some deals are popping up again....in Sydney...