QLD Petrie or Bray Park

hey guys i have the chance to buy in either Bray Park or Petrie under $400.000 starting a poll your advice would be helpful.

 

Sorry the Petrie house is closer to the uni and train line i am leaning toward there have found a good deal just not sure if Petrie is to far out from the cbd but Homely.com rate Petrie number 1 suburb in the whole of Brisbane must be a really nice place and maybe somewhere i could move in 10 years.

 

This thread has all the detail on the University and planning changes in Petrie:

QLD - Petrie - University / The Mill Priority Development Area

This is the rezoned area of Petrie - note the building heights allowed near the station and in the CBD area.



Much of the detail on the zoning is here:

Planning scheme maps - MBRC Planning Scheme

You can use this online tool to confirm zoning of individual properties.

My property look up - MBRC Planning Scheme

 

Thanks wombat had a good read I think both areas will do well in time as they are close to the uni I have it down to Lawnton,Bray Park,Strathpine,Petrie close to train line is a must I’ve also heard some parts of Lawnton are rougher.

 

I know some people will say depends on the house and the deal which I get but the houses I have been offered are about the same age size around the same distance to station so I just have to pick Petrie or Bray Park homely.com rates Petrie 1st in Brisbane and Bray park

 

Wombat my house is just in general zone 2 k from station and uni houses in next gen housing would be over my budget I think over 400.000 probably.

 

The reason I am choosing Moreton bay over Logan yes I can get a house around $300.000 in Logan that rents $330.00 a week good size block in a rougher part of slacks creek but why not spend more now in 10 years that’s how long I’m holding Moreton bay I think will smash the ses of Logan the train line gets you to Brisbane in 30 to 35 minutes not as much trouble with tenants.

 

And my income isn’t over $1000 a week so the bank won’t lend to me for ages even if I buy a cheaper one in Logan and with the banking royal commission they will tighten up even more I think on investors so may as well lend as much as I can now before they tighten the screws.

 

The amount of hype in Petrie because of the new Uni has been crazy...
Not to mention zoning around Uni has been changed to already absorb the demand...
Uni initially attracts student crowd and as years go on you get the families settling down...So if you can wait then all good.

I rather go Bray Park/Strathpine as closer to CBD and with the Carseldine Urban Village coming up it would attract business..

 

Whilst I understand the Uni may help
With rental prospects, I struggle to see why so much hype is placed around this one project for future capital growth? Last time I checked Uni students don’t pay a premium for homes let alone buy one.

These area’s have all ready done Ok due to investors.

I think you can get much closer to Brisbane for $400k.

Also, take the homely review of Petrie being #1 in Brisbane with a grain of salt. I can tell you Brisbane locals definitely would not think that or place it even close haha. We hardly call it part of Brisbane.

 

One thing to keep in mind is how cycles work. North will.go up and when it reaches its affortability cap everyone will buy down south. Its just different parts of the cycle and lse is last. lse areas do usually get smashed in down cycles so whether it be north or south avoid areas full of investors as they cause a price landslide when the lemmings all jump off the cliff together - oo areas only ☺

 

Hello Codie thanks for the reply I'm not paying $400.000 in the area it's around $360.000 and close to the station and new uni you can't really get any house on 600 plus land near Brisbane under $400.000 maybe in Acacia ridge a very run down house.

 

Also Codie I Definitely haven't just based my decision on a homely.com review I have no idea why Petrie is rated number 1 I would probably prefer Strathpine as it's closer to the Cbd closer to better shopping close to train out of all the areas but missed out on one 2 weeks ago hard to get anything decent under $400.000 there atm.

 

I'd be happy to hear some suggestions on houses closer for under $400.000 cheers Katie.

 

I know everyone is saying Petrie has been overhyped, whilst I agree to a certain extent but personally I think the statement is a relatively short term view. If you look at Petrie's current position plus the upcoming projects:
1. It's gonna have the new upcoming USC - the only uni on the Northern side of Brisbane until you hit Sunshine Coast. This is the main differentiator for the area as you can build as many other Westfield but you don't just pop another new uni every other day

2. The train station is the interchange between the line that goes to Kippa-ring and towards Caboolture, so if there are express trains in the future I'm pretty sure Petrie will be on the card as an express stop. Express trains will allow residents to shorten commute to CBD significantly, and people will want to live close to express train stops

3. They are not just putting a uni campus but Moreton Bay is also refining the whole Mill Central precinct to include a revitalised Petrie town centre with a mix of retail, commercial and community use. There will be jobs/employment as well to accommodate the demand from students & local residents who wants to have a lifestyle.

It'll be a long term investment - 10-20 years possibly, but if you hold it long enough I reckon it'll be a solid performer in my opinion.

Cheers,
David

 

Sorry David but I dont agree with your optimism. I do see the Mill Precinct development as a positive for the region, but it is not going to be the economic panacea for a dead Qld economy. Speaking of which, there is a hospital in there about another ten years away.

The council has rezoned what I believe is way too much land for high rises. Look at Redcliffe - high rises everywhere already and barely enough demand. Many sat empty for years. Every Tom Dick and Harry "investor" has already bought every block of rezoned land along the new zoning strip and they all think that any moment now Harry Trig's companies will want to buy their property at a premium to build more high rises. Just because land is zoned for med-high density, doesn't mean it will be viable to develop it all.

What happened to the Carseldine University? What about Gladstone and other mining town developments.

 

All good Angel, it's just my personal opinion after all so we can agree to disagree

Cheers,
David

 

David, understand the optimism as you may own up those ways?

However your points made I:E #2 is just speculation and a big IF and point #3 all though your talking about employment prospects, all those mentioned are not high paying industries. I struggle to see where prices are all ready at a median of $435k, and you can purchase a house on 600sqm within 12km of Brisbane CBD for $450-$500k, why this would make a solid investment over something so close to Brisbane in an high % owner occ suburb.

Do you expect the likes of Petrie being 30km out to out perform or out grow a suburb 10-12km out?

 

Please show us an example of a ready to live in home on 600m2 or more, 10 to 12 klms from the CBD. At Petrie and Kallangur, houses in that price range wont flood and they wont be eaten out by termites.

 

These are around 12-14km, has been some recent sales of even better properties. They are liveable, and have add Val potential. My opinion is you will do far better out of something like this long term

$439k
36 Casula Street Arana Hills Qld 4054 - House for Sale #129079782 - realestate.com.au

$450k
Arana Hills address available on request - House for Sale #128942530 - realestate.com.au

$479k
33 Olearia Street East Everton Hills Qld 4053 - House for Sale #128865158 - realestate.com.au