QLD Racenet and North Lakes in QLD

I am thinking of purchasing in one or both of these areas this yr.

Target is 3-4 bedroom free standing house with decent tenants.

Any thoughts on these areas inc the type of areas these are, facilities/infra, growth prospects, demographics and so on?

I'll be in both areas in the flesh during late Feb and month of Mar to check out heaps of real estate....

 

North Lakes is about double the price of Raceview.

 

Obvious draw card is the Westfield. Significant other commercial: retail, medical, business park. No train in NL, have to go to neighbouring suburbs. Not too far from Petrie uni or Redcliffe hospital.

I personally like the older suburbs; Redcliffe, Kippa-Ring, Kallangur, Strathpine. NL is a bit nicer, but bit smaller plots

 

Don’t know how we are comparing Raceview to North Lakes. Very different. I see North Lakes as much more affluent

 

Mango hill is good if you use the train regularly.

The older parts of North’s lakes (heading up discovery drive) has many blocks ranging from 500-800m2 if you want more yard space.

Allot of the houses are over 200m2, this takes up considerable yard space.
The bus goes up/down discovery drive (every 20-30 mins) and stops at Westfield and then direct to Mango hill station.

A 4 bedder with 2 living can rent for around 550
A house with a pool are currently fetching a healthy 600-700pwk
So the yeild is decent & tenant demographics are above average as many professionals live here.

 

Not double, I'd say it's about 50-60% higher in North Lakes. North Lakes is certainly the more desirable suburb.

 

Which Westfield are you referring to - in North Lakes area or Raceview?

 

Thanks mate, for the 4 bedder with 2 living renting for around $550 p/w, what type of price range would I be looking at for something like this?

 

So what is the ideal scenario? Buy one in each suburb? live in one and rent one out?

 

Hi Headlong - my preferred scenario is to buy x2 free standing houses in North Lakes area for approx $550k each.

 

And both to be investments - I live in NSW.

 

550-600k will only get you a 3/2/1
In most areas of Logan you can’t find a 4/2/2 at this price point any more either.

For North lakes you’ll need 700-780k for a decent 4/2/2 with 2 living on a reasonable sized block.
I’ve seen a couple sell under 700 but they’ve been bordering main corridors.

You’ll most likely find a decent 4/2/2 in KAllangur for 600-700 bordering North lakes.
Prices have moved considerably like everywhere else in Brisbane.

 

Agreed - I will keep an eye on the market and see how it goes.

 

I ended up purchasing a free standing 3 bedroom house in North Lakes - nice new brick house built around 2013, hoping to secure a tenant before settlement later this month, vacancy rates are 0.4% so turnaround for a quality tenant should be quick.