QLD Regent Park vs Kallangur vs Springfield vs Forest lake

Hi All,

I am looking for my first ip property in Brisbane. Must have 4 bedder brick house max budget of 550k.Not after renovating a property. I have narrowed down these 4 suburbs based on my budget. All these suburbs are around 35 km from CDB. Rental expectations of above 450 per week. Appreciate is someone can share some property links for research and also rate these suburbs. Cheers

 

Out of all those I would be picking Forest Lake out of them all. Its in Brisbane council and has very good access to the CBD via the M5. I think in terms of growth Forest Lake will continue to grow at a very fast rate.

Forest Lake is flying at the moment. Have you seen those prices? 3/1/1s on only 250sqm-350sqm are selling for close to $400k now. 3/2/1 are over $410k now and anything more we are talking $500k.

https://www.realestate.com.au/sold/property-house-qld-forest+lake-136238670
https://www.realestate.com.au/sold/property-house-qld-forest+lake-136215578
https://www.realestate.com.au/sold/property-house-qld-forest+lake-136654694
https://www.realestate.com.au/sold/property-house-qld-forest+lake-136588734

Some of the bigger houses in the $700s already. These smaller places will all fetch close to $450k-$500k by the end of this year.

 

For price Regents park hasnt yet had the growth of the other Logan areas so can still pickup properties under $500k in a high demand oo suburb. Recent $1B motorway upgrade recently completed nearby and only 25mins into the city 40mins to gc. Lots of money going into this area currently with renos etc, sure sign of gentrification

 

Forest lake is definately a great pick but finding a 4 bedder below 550k is tough. Regent Park is still affordable along with Hillcrest and Brown plain. Many options are available weekly.Any thoughts on Kallangur and Springfield ?

 

Agree even at $550k is now very tough. My next pick would be Kallangur or Petrie up Northside. North is moving like a freight train and has had huge upside recently. $550k you "Might" be able to squeeze into Petrie which would be the best out of all of the suburbs I'd say simply going off the potential it has.

Springfield is OK very popular with FHBs.

1) Forest Lake
2) Kallangur or Petrie
3) Regents Park and Hillcrest seem ok. They are moving like all other Logan suburbs. Have a look at Crestmead or further East like Loganlea, Loganholme, Bethania. They are all moving fast and growing quickly but for your budget you'd still get a nice house there. Maybe by December your $550k wont buy you much at all the way things are going.

 

My first choice was Petrie. After searching for last 3 months and losing to other bidders I have not moved Kallangur. Asking price on 4BHK in kalangur is above 550k and they end up close to 600k. I doubt is it worth buying while the market is at so high in Kallangur ?

 

Honestly it depends. $600k these days is not much still. It is dirt cheap compared to the premium suburbs now in Brisbane.

$600k in Sydney for comparison, I don't think would get you any house in any suburb now and if it was possible it would be uninhabitable or require serious work.

No one knows for sure but its better not to sit on the side lines for too long. I would think house prices are rising so fast weekly its better to buy something now. A few months of stuffing around will cost you $20k+ I think. Probably even more.

 

Lots of land in Springfield, great for a PPOR but I don't expect capital growth to be anything worth writing home about for quite a few years yet.

My picks would be Petrie/Kallangur due to rail access, the Mill at Moreton Bay development, USC University and Petrie (Mill at Moreton Bay development) being the Boxing venue for the next Australian held Olympics.

 

Quoting myself from back in July 2021 - well just received a call today by a local Real Estate agent in Forest Lake (one of the best ones actually looking at the sales histories) and she advised that she just sold numerous 3/2/1 places on 320sqm for $550k+ now.

In fact my house she wants me to list and she said he will get $570k+. Its only a small place 3/2/1 as well.

So from July to now it seems prices have shot up immensely by more than $150k+ in Forest Lake for even the smaller homes.

The larger ones I'm seeing some crazy numbers now. Forest Lake seems to be attracting so many buyers willing to pay very good money for places.

 

My preference in order for 4 bedder brick house on 600sqm lot is

1) Forest lake - 750k to 800k
2) Kallangur - 650k to 750k
3) Springfield - 650k to 750k
4 Regent Park - 650k- 700k

For 800k to 850k my choice would be carseldine..

 

A guilty pleasure of mine is to go back on older posts and compare them with present day - lots of juicy learnings. And now when I'm hesitant to act on a property I bring up mental images of posts like this and tell myself to stop agonising over a few thousand dollars and just put in a damn offer!

 

Hahaha yep. This is what I continuously had to tell myself when I was a bit younger. Arguing and agonising over $3k-$5k means nothing long term. I actually lost plenty of houses doing this exact thing when I was still learning.

I still have ALL my emails of my offers in my inbox from back in 2008-2017 when I accumulated all my properties. Man.....some of the stuff I read when I was negotiating I just have to laugh at myself especially way way back towards the start. LOL

I missed out on some excellent homes over such small amounts of money. If I had bought them all I'd be a few million richer. - I want to kick my younger self.

 

I remember you mentioning those emails in another post, thanks for sharing that lesson as it has forever imprinted into my brain!!

I have just put in an offer on something, and get this, as the owner of 3 properties I have never actually put in a single offer before, so have zero experience. First one was off the plan fixed price by the DHA, the other ones were through buyers agent who did all the negotiations and got me below market value. So I have been agonising over the price coz I don't want to look like an overpaying chump, and "you need to set a max budget and stick to it" right??? But a small part of me can't help but wonder if I just chuck in that extra $10k will I simply be better off. Ahhh property buying is such an art.

 

Based on the potential, I would value Kallangur higher than Forest. Both suburbs are well known for bad reasons, but Kallangur get cleaned up way quicker than forest lake.

 

You could be right. Kallangur has been the first choice for many investors and why not as there is great potential and new infrastructure keeps supporting the new growth. Where would you recommend for a budget of 700k. I am after brick 4 bedder for investment ..

 

https://www.realestate.com.au/property-house-qld-daisy+hill-138123842
https://www.realestate.com.au/property-house-qld-warner-137906578
https://www.realestate.com.au/property-house-qld-bracken+ridge-138139626