QLD Property investing in QLD

Hi all,

I am considering my next investment to be in Queensland.

My criteria below:
* Max $550k
* Looking for positive cashflow investment - assume Interest-Only loan
* Want a free standing house
* Within 10km-15km of Brisbane CBD (Gold coast also ok as secondary)
* Good for families with kids (e.g. you families / growing families)
* Good facilities, infrastructure, schools, hospitals, transport infrastructure
* 3-4 bedrooms
* Not off the plan (should be already built)
* <3% vacancy rate

Could I get some indications of areas/pockets and suburb names so I can research?

Thank you.

 

I think your budget is too low for 10-15km to Brisbane CBD, or pretty much any BCC Suburb for that matter. $550K will likely push you into MBRC/ LoganShire

 

You might able to barely buy into Springwood and surrounding suburbs with that budget. If you jump to M1 it will take 20mins to get to brisbane CBD or 50 mins to Gold Coast. I got an investment there also if you would consider that bias. But the yeah Springwood is super convenient that way...

 

10-15km and $550k don't go in the same sentence anymore for Brisbane I'm afraid.

Try 25km-35km out and even then in the Northside you'd be struggling. Petrie is pretty much a $500k+ suburb now.

 

Can anyone make a call on what suburb is ready to explode?

Lots of talk on this site about suburbs that have already exploded, where’s the value now?

 

The only place that hasn't had huge growth yet is Ipswich imho. Its coming though, places like Redbank plains etc....I heard are sizzling hot right now as well.

Some Logan suburbs also lagging which would also provide some nice growth short term. Thats pretty much it. The rest of the Brisbane, Moreton Bay, Logan, Redlands suburbs are already flying.

 

Unfortunately @PropDir as others have said you wont get what you have described with a $550K budget. You either need to compromise on the location (ie: look further out) or compromise on the asset type to stay in those locations closer in. Of course, the right option depends on what you are trying to achieve long term.

 

Thanks icic - I will check out Springwood.

 

Thanks @thunderstrike888 I will check out Ipswich.

 

Hi @MelindaJennison - can you suggest some suburbs further out?

 

Hi Mate, have you shortlisted the property. I am in similar position

 

For decent options popular with oo you will now be looking 25km out at suburbs like Kallangur, bray park, strathpine, edens landing, regents park. You will just get into these suburbs atm but areas like springwood / bracken ridge are all close to $600k. Be quick... soon everything will be 550k + and a lot more to come after the lock down migration ramps up again. I was talking to local logan rea and they were saying that the demand in these areas has been uplifted massively by interstates sick of lock downs both on the sales and renting side.

 

Hey @Never giveup - not as yet, given NSW borders are closed, I wanted to visit QLD to see specific areas before deciding. Do you have any thoughts on QLD suburbs?

 

Thanks @Closet I will check these out.

 

I was looking at Redcliff or Mango Hill

 

I am researching now. Some of these suburbs look good.

 

Margate and Clontarf are great options but decent properties would be hard to find for the budget, still possible though.

 

Stay away from the Growth Corridors in Ipswich and Moreton Bay. To much new supply (new land estates) no scarcity. You won’t get anything that close to the city with that budget unless you compromise on dwelling type. You could easily get an establish 3 bedroom townhouse with that budget.

 

I beg to differ. Ipswich is taking off now. I've been paying close attention as this was the last area to take off. Logan is already hot as hell.

Moreton bay is also flying. Your supply issue wont have any impact on this boom. How many houses do you think are going to be built in any of these areas in the short term? Way way way short of the demand that's up there and even in the future it will struggle to keep up with demand.

Brissy is the only city that had influx of over 100,000 ppl migrating from NSW and VIC just in the last 12 months alone plus its expected this number will grow next year at an even faster rate.

The supply argument wont be able to absorb the demand for Brissy at the moment and I cant see it happening soon either.

 

The supply pressure is coming from interstate migration. 90% of these people want to live near the water or in the inner middle rings suburbs of Brisbane. Ipswich and Moreton Bay is just full of first home buyers and investors creating a self-fulfilling prophecy right now. These areas aren’t even gentrifying they are just expanding supply because that’s the only affordable areas now for average first home buyers.