Hi all, I am a very green investor with a lot to learn, looking to buy property interstate (i am from Melbourne), as getting a decent property over here is now out of my range ($400k), so I am exploring the option of investing in either Brisbane or Perth. I need to do a lot more research to narrow down to a specific area, but was hoping to get opinions on what anyone thinks which city has the better growth prospects over the next 10 years or so. Any feedback wuld be greaty appreciated.
Plenty of options in Ipswich near Brisbane.... house with good land component. Some areas if Logan as well. Getting thin on the ground as prices rise
Hi Sam, You can defiantly purchase a good property in Logan area for under 400 k. I would just say stay away from Woodridge, Eagleby and other suburbs that have a really bad track record when the market slows down. We are buying in suburbs in Logan that have at least 70% of the properties owned by owner occupiers and 30% owned by investors. This allows higher rental yields and also tighter vacancy rates.
@Samm It is not a city vs another. Not as simple anyway. Many factors interplay. There will be good growth in both cities subject to what you have bought.
@Samm, did u check Springfield Lakes or Forest Lakes for that matter. Looks areas with good growth prospects to me.
Thanks all for your replies, appreciate the feedback. I am thinking Logan area (wherever the nicer part of that area is) for Brisbane, and somewhere in Perth for 400K or under with a half decent rental yield, but I don;t want to buy in area thats rough, will keep browsing and soaking in as much info on different areas within those cities. And once I have narrowed to an area that looks good for me, I will post another thread asking opinions and think it through. Cheers all.
I think Perth and Brisbane might be quite on par with each other for future growth at a macro level. But if I'm looking at a $400k buy in I think that market has already moved significantly already in Brisbane whereas Perth still has some good suburbs left in the bracket and maybe primed for more growth as it's not as far off the bottom - if that makes sense? If you want to investigate some Perth suburbs then these are all within 15km from Perth CBD and should have some options in your price bracket - in no particular order and not an exhaustive list - Kiara, Morley, Noranda, Mirrabooka, Marangaroo, Thornlie, Langford, Eden Hill, Carlisle, Beckenham
Thanks Westminster I will check them out. But going back to Brisbane in that 400k bracket, i know that the market has moved, but would have thought that with the Olympics coming along, then there would be more spend on infrastructure therefore more growth ? Or has the horse already bolted ? I am looking long term (10 years +).
I don't recall Sydney getting a large growth because of the Olympics - doesn't mean that Brisbane won't but doesn't mean it will either. You'd need to know where the infrastructure is being spent to try and target it if you did. I recall someone started a thread on this topic let me see if I can find it The Olympics and property prices
Forget the Olympics. It wont do diddly for prices. Focus on good OO area, potential ripple suburbs, add value ability via simple reno. Then hold. Personally, if my budget was 400k, I'd probably look at Perth over Brisbane and buy the best deal I can in a good OO area with some simple add value ability.
Olympics will make a difference. But that difference will be really about infrastructure and jobs, and will be up to a few years before (2028?). Brisbane will be centre of the universe!! Hooray!!
4 bed 2 bath 600 land house are available arrond 350k in Goodna QLD. 27km from City. I think so under valued. These days it cost 350k just to build those houses, what about the land? Prices rising.
Great to hear you are looking at getting into the property market. Perth and Brisbane both have their perks. Will either outperform the other over the next decade? No one has a crystal ball but if you did pick up a property in either of these two areas I'm sure you would look back and be thankful you pulled the trigger. Personally, I am heavily invested in Brisbane at the moment but do think Perth has great potential and will be looking there in the future. If you are choosing Brisbane just note that you would be limited to the LGA's of Moreton Bay, Logan, and Ipswich as 400k wouldn't get you into Brisbane itself. Though, these areas have some cracking potential and have already seen this year so good growth.
That is like saying you want to buy in the best part of Lakemba in Syd. When everyone was buying madly in Logan, ask them if they wish they bought in Bris council area, or West Syd, or regional NSW or VIC, frankly, nothings changed. I would be tempted to start looking at units if I was going into QLD, over something at Logan.
Forest Lake in Brisbane is absolutely insane at the moment. $400k will probably only get you a 3/1/1 with like 250sqm of land. 320sqm of land with a 3/1/1 are now fetching $420k+ and 3/1/2 or 3/2/1 setups now close to $450k. Anything 4/X/X and on large blocks 500sqm+ your looking at big jumps in prices. $400k your better of investing in the remaining Logan suburbs where you can still get something decent for sub $400k. In another 6 months I will be willing to bet hardly anything will be under $400k in Logan. Ppl are realising you can buy land and a fairly updated house for $400k still. To build that house it will cost you $400k+ alone these days. Its not possible these places remain this cheap. Rental vacancies in Logan suburbs range from 1.5% to under 1%. You'll never see those rates in the past. You list something for rent it gets leased within the week. One of mine got leased 2 days after listing.
Def wish I bought in West Syd haha Going back to the main questions can you afford more? 400k in both cities isnt going to get a good location. Though 500k might squeeze a decent located crappy property in Perth. I dont think you would come close in Brisbane. I would be looking at the locations and future supply issues of each location and continue. As a whole both cities will probably move at the same rate in my opinion but for example buying a crap h+l package where land is abundant for example wouldn't be the best investment in either cities
With the budget you have in mind perhaps the breakdown which looks at the performance of market segments below might help? Brisbane and Perth growth is very different. Brisbane growth is being led by the top segment of the market, whereas Perth is being led by the bottom end of the market.
If you can increase to 450k you might be able to squeeze into southern Morton bay region.... Poised for great Future growth. Northern Brisbane is to expensive on that budget.
