QLD North Lakes vs Waterford

Discussion in 'Where to Buy' started by Sunnyday, 6th May, 2021.

Join Australia's most dynamic and respected property investment community
?

North Lakes vs Waterford

  1. North Lakes

    3 vote(s)
    60.0%
  2. Waterford

    2 vote(s)
    40.0%
  1. Sunnyday

    Sunnyday Member

    Joined:
    4th May, 2021
    Posts:
    7
    Location:
    Sydney
    Hi everyone,

    Just found this forum 3 days ago and have read lots of great threads. I am from Sydney and am looking for a long term investment property with price range of 400-500k. I perfer some new developed 4/2/2 in a land no less than 450 sqm. After anaylsing the whole logan city council area and some of the northen suburbs, it comes to two options for me: North Lakes vs Waterford.

    WATERFORD
    Queensland 4133

    The size of Waterford is approximately 6.8 square kilometres. It has 8 parks covering nearly 3% of total area. The population of Waterford in 2011 was 3,930 people. By 2016 the population was 5,488 showing a population growth of 39.6% in the area during that time. The predominant age group in Waterford is 0-9 years. Households in Waterford are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Waterford work in a trades occupation. In 2011, 60.1% of the homes in Waterford were owner-occupied compared with 50.5% in 2016. Currently the median sales price of houses in the area is $405,000.

    NORTH LAKES
    Queensland 4509

    The size of North Lakes is approximately 11.6 square kilometres. It has 101 parks covering nearly 14.4% of total area. The population of North Lakes in 2011 was 15,045 people. By 2016 the population was 21,670 showing a population growth of 44.0% in the area during that time. The predominant age group in North Lakes is 0-9 years. Households in North Lakes are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in North Lakes work in a professional occupation. In 2011, 61.9% of the homes in North Lakes were owner-occupied compared with 54.8% in 2016. Currently the median sales price of houses in the area is $495,000.

    Yes from price definitely North Lakes is a better choice in terms of growth, but considering the yeild personally I dont think Waterford is a bad one. I dont know much about either area so any comments or suggestions would be much appriciated. Cheers!
     
  2. ashish1137

    ashish1137 Well-Known Member

    Joined:
    12th Sep, 2015
    Posts:
    933
    Location:
    Sydney
    What about the supply in these suburbs? :)

    Regards
     
  3. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    I actually voted for northlakes on this one with the following reasoning. If u have 550k go northlakes. If u have 350k go waterford
     
  4. Marg4000

    Marg4000 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,484
    Location:
    Qld
    This ^^^

    Depends on your budget.
    If you have a budget of at least $500K, go for North Lakes.
     
    Sunnyday and boganfromlogan like this.
  5. Sunnyday

    Sunnyday Member

    Joined:
    4th May, 2021
    Posts:
    7
    Location:
    Sydney
    Thanks for the comments above. So how about Yarrabilba?

    Yarrabilba VS Waterford.

    Same kinda new developed estate for young families. Same price for 4/2/2. Yarrabilba is new to compare with Waterford but a little bit far to Brisbane. Any comments? Cheers!
     
  6. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    well i wouldn't buy in Yarrabilba, middle of nowhere. Alternatives are:

    1.Meadowbrook (development near the hospital / train ), larger blocks closest to hospital and away from the gold course.

    2. Loganlea.
    3. Slacks Creek;
    4. Flagstone (employment nearby).
    5/Beenleigh
    6. Eagleby
    7. Crestmead

    not in order, just a 'braindump'.

    Daisy Hill if you have more $$
     
  7. Branden

    Branden Well-Known Member Business Member

    Joined:
    12th Aug, 2018
    Posts:
    629
    Location:
    Blacktown, NSW
    From an anecdotal perspective, after visiting both North Lakes and Waterford I would choose North Lakes based upon what I observed. However, your decision to purchase in one area over another should be data-driven. When comparing both suburbs based upon demand my research suggests North Lakes has a greater demand than Waterford (I derived this information from: https://dsrdata.com.au/home if you are interested). Thus, it may be a more viable investment option.

    I have noticed that the majority of detached houses in North Lakes are new builds or relatively new on smaller lots of land (450sqm as you mentioned). Thus, I would ask whether you would be getting the best value for money? A better option may be to purchase an older property with a larger land component as the land is what drives capital growth and given the dwelling is a physical asset it is essentially a liability. With this, you may want to look at alternative suburbs which fall within your price range that demonstrate greater potential.

    One last thought I might add would be for you to clarify your goals and ambitions. What are you trying to achieve? This may dictate what approach you take and subsequently where you end up purchasing.

    Cheers,