QLD Rental Demand South Brisbane

Hi All,

I am looking to buy a house on the Brisbane South side. Probably Moorooka, Salisbury or perhaps Mt Gravatt. Looking to spend around 550-600K.

I don't live in Brisbane so don't know what it is like on the ground.

I was wondering what the rental demand is currently like for houses in the area. From a quick look on realestate.com.au it seems the houses listed are not on for much and was wondering if the demand is low?

Any help or advice is much appreciated.

 

Welcome to Brisbane, good choice.
Firstly, "South Brisbane" is a suburb here. From what you described, your subject-line should be "Southside of Brisbane", or "Brisbane Southside".
Going out now, will write more later.

 

Thanks Pumpkin - you are correct. Should have written Brisbane Southside.

I live on the Southern GC. It just seems low compared to down here. We have much less building work going on down this way I guess.

I have a unit in Coolangatta and I ask the question as my PM seems to be able to get me at least $50-100 more than what most properties are advertised for down here.

I was wondering if Brisbane is the same?

I noticed a 3br house sold Salisbury recently for 515k and is now advertised for 385pw rent. That seems kinda low to me.

To any PMs out there; how many people show up for open homes? Does it take long to find decent Tenants?

 

Cooparoo and Greenslopes - our favourite, cant explain why. Just feel a good vide there.
The price hasnt gone up ridiculously like the others, and it's pretty enclosed.
Depending on what you are looking for: longterm or short, rental yield or capital gain, negative or positive gearing......
Cooparoo Square is trying... saw some movie deals which we went but some shops were closed, didnt get our supper. Will have to visit more to get a feel of the place.

 

Yes there are a lot of construction going on in Brisbane, especially Units and Apartments. I am rather surprised to see how Australians have embraced the idea of living in these buildings, instead of a traditional houses. I hope and believe that they have settled somewhat.

Demand and Supply?

The rental yield for Units/Apartments is always seem higher than houses. But do remember to compare apples to apples: did they include all the costs: Council rates, gardening, water, insurance etc etc.

To any PMs out there; how many people show up for open homes? Does it take long to find decent Tenants?[/QUOTE]
How long is a piece of string? Our record was 7 GOOD applications for a 2-bed unit in Greenslopes about 1.5 years ago, to which I cant exactly explain why. Another property under Ipswich Council had a lot of interest, but Owners rejects all applications, and I cant blame them....

 

Speak to as many property managers as you can in the area to get the true picture..

Returns generally are little lower on sites with development potential or bigger block with small size home or oldish house bla bla..

Good property managers will easily be able to provide you all the relevant facts and they worth every cent when hired to manage properties!!..

Cheers,

 

Thanks Guys. Appreciate the input.

Yes I will ring a few property managers and see what they have to say.

 

Yields are definitely better in the regionals, but capital growth prospects are stronger as you approach the city. Those areas have had reasonable growth in value lately but rents tend to lag a little- especially on development blocks.

What are you hoping to achieve with the investment? Is it potentially a future development site or do you want something nice to maintain long-term, etc.?

 

Thanks Tom,
This purchase is a long term hold and I am willing to sacrifice some yield for CG.
I guess you are correct some CG has occurred and it will take a while for the rent to catch up. Looks like I should have bought earlier (I think every investor thinks this

 

What is the rental demand on the ground for granny flat or duplex/dual key options on the ground in Logan / Ipswich areas? Cheers

 

Surprisingly good. The modern factor really attracts people and I still can't believe the rents people pay for these places...!

 

Thanks Tom, you seem to be right on the ground in that area and appreciate your response. It’s a slightly longer term yield play for me, but a friend has recently bought 2 x duplex in Springfield. A quick look shows the usual overestimation of rental yield to be achieved but a possible property with the addition of a granny flat is certainly something I’d look at. Cheers