QLD Petrie - University / The Mill Priority Development Area

I think I know which agent. LOL.

They seem to be running a database search of owners in the area and doing some cold calling. I've been called a few times by the SAME agent but different sales ppl. I've had to politely remind them someone from their team called me already.

 

Just got an alert on my phone regarding the house below. I'm so happy to see this sold for $460k. Very very comparable to the ones I own in Petrie.

Petrie is going from strength to strength. Basic 3 bedder going to be > $500k within a few months I'd say.

https://www.realestate.com.au/sold/property-house-qld-petrie-135273906

 

That’s made my day @thunderstrike888

 

That's about right, Petrie is in greater Brisbane, definitely can go over $500k.

 

I think its already happened.

There is not a single house for sale in Petrie under $500k now that I can see listed (free standing 3 bedder or above).

The most recent one is the one below and I recall someone advised me it sold for considerably above asking.
https://www.realestate.com.au/property-house-qld-petrie-135502050

 

We will soon know how much it get sold. $500k for a decent size corner block land, not far from shops and trains, pretty good deal.

The DA of the new Mill mall hasn't been approved yet. Anyone got paid Courier Mail account can share the content? No Cookies | The Courier Mail

 

Can someone suggest me a local buyers agent familiar with North Brisbane. I am not sure if it's too late to invest now ? I have a budget of 450k max ..

 

No idea regarding a buyers agent but for $450k you'd be at the low end of the scale now in many of the Northern Brisbane suburbs. Might be lucky and be able to find one that needs a bit of TLC for that price but then you'd be competing with a plethora of buyers as everyone is looking for a deal. Investor activity I feel has picked up immensely as well over the last month.

You'd probably have to go out to Dakabin/Narangba way. I've just looked at Dakabin its very hot up there as well. They are all pretty close to Mango Hill/North Lakes so there is nice ammenities there that will provide pretty much everything one needs.

A lot of it is under offer or under contract already.

 

You may still just get into Deception bay for that price. Possibly lawnton and Kallangur. 3 1 1.

 

24 Young St Petrie has gone unconditional, I drove pass today and saw the agent was there sticking the sold label. I got off and had a chat with her. Won't know the figure until it's sold.

 

You may want to consider old weatherboard homes, a lot in need of reno, east of Gympie Rd in the less in-demand areas of Strathpine as still a few here in the 400s. I'm not necessarily recommending this area though (personally I think pockets of Petrie and Kallangur present better immediate value) but I'll leave it to those who know MB better than me to comment. It's quite rough and run-down now but it may have good potential in the longer-term.

 

I highly recommend Melinda & the team at Streamline Property Buyers if you are looking at North Brisbane ...

Good luck with your purchase ...

 

Unless you can find an absolute steal around $350k in Deception Bay, I'd still steer well clear of the area. The general socio demographic of the area needs another 10 years plus to improve.

On the other hand, every suburb in Moreton Bay on the edge of Brisbane is pure gold atm.

 

The funny thing is that as rents rose a lot has changed in the southern part of deception bay - according to property managers on the ground this has pushed this demographic out to kallangur. Deception bay is up 30% in some of the oo parts. Huge demand from owner occupiers now...

 

Also a lot of DAs underway in the area near the waterfront. The gentrification is just starting. Watch this accelerate as the market picks up.

Increasing numbers of homes near the waterfront have also had good renovations or rebuilds by owner-occupiers.

 

Unsurprisingly the larger homes on and around Water Street have been done up and look quite good now. In time the smaller weatherboard homes will be renovated and get a new lick of paint as new buyers move in. Not as nice as Redcliffe Peninsula but area has definite potential imo- felt a little bit Florida-like in character when I visited.

Even the recent housing estate areas I drove through were nice and I'm not generally a fan of these.

 

Deception bay property is great value for listings literally on the waterfront or towards the newer developed Western region, but everything in between, which is 80% of the region, is riddled with riff raff. I'd be more concerned with the general clientelle in the area rather than what agents say, who simply want to promote and drive their own sales.

As somebody who sometimes frequents the area for work reasons, I personally would be looking more towards the Redcliffe Penninsula for any sort of coastal purchase.

But of course, horses for courses.

 

Agree that you definitely do need to pick your area carefully but if you did, you will have and will continue to see some strong growth over the next few years.

 

What are thoughts on town houses or units in Petrie close to university?

 

What's your budget? I'd personally always buy a free standing house on its own land rather than a townhouse or unit any day of the week. Petrie is still at a fairly affordable price range (if you call $500k affordable but compared to Sydney it is) so I'd be bouncing now.

Petrie in my opinion still got a lot to grow. I'm crossing my fingers Petrie will be a $6XX,000 suburb by end of 2021 and $7XX,000 within 2-3 years.