QLD Should I put $400k in Durack?

Discussion in 'Where to Buy' started by Asa440, 15th Feb, 2018.

Join Australia's most dynamic and respected property investment community
  1. Asa440

    Asa440 Member

    Joined:
    7th Nov, 2017
    Posts:
    16
    Location:
    Australia
    Hi Guys,

    I have $400k to invest and I am thinking of staying as close to Brisbane CBD as possible. What do people think of Durack? Should I be looking at older home or town house? I will naturally prefer to have a free standing house.

    I am hoping to by within the next two months

    Ta!
     
  2. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,001
    Location:
    South East Queensland
    I'm a big fan of Durack, and that corridor in general. It's really well priced given the proximity to the city and other more expensive areas.
     
  3. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    15,631
    Location:
    Bondi Beach
    My stance on Brisbane is if the budget allows, I'd always choose a free standing home over a TH. I'd never consider units. Doesn't suit my approach .
     
    Tom Rivera likes this.
  4. Stephen McGee

    Stephen McGee Member

    Joined:
    21st Sep, 2015
    Posts:
    6
    Location:
    Brisbane
    it all depends on what you want to ahcieve out of your investment -here`s my thoughts- - whislt Durack may be an "affordable" suburb it is not an ideal suburb to invest in- Low socio-economy- high rate of unemployment - low growth rate. There are some alternate suburbs that have a higher confidence factor where you can invest for the same $$ but obtain a superior rate of return
     
  5. miola

    miola Member

    Joined:
    22nd May, 2017
    Posts:
    12
    Location:
    Victoria
    Could you give few examples of such suburbs? I am thinking to buy my first IP in Brisbane or may be other parts of QLD with a budget of 400-450,000 and cannot decide on a particular location It would be interesting to hear your opinions/thoughts.
     
  6. Asa440

    Asa440 Member

    Joined:
    7th Nov, 2017
    Posts:
    16
    Location:
    Australia
    Interesting!

    I would also like to know which suburbs might be reconsidered better alternate to Durack for investing.
     
  7. JDM

    JDM Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    463
    Location:
    Brisbane
    I think this will partially depend on your strategy.

    $400k house within 15km of the CBD is generally going to be an older house in either an undesirable location (likely main road) or a lower socio-economic area. You will have higher maintenance costs, generally a lower yield and likely more tenancy issues. Minor issue, but depreciation will probably be minimal.

    $400k townhouse closer to the CBD will likely be in a better location, be newer and attract better tenants. Maintenance costs will be lower, however you will likely have a body corporate to deal with. Probably less maintenance and a little bit of depreciation.

    I think the budget is just a little bit too low to be looking at houses. At $400k I would be going a townhouses. If your budget was $500k, I would be leaning towards a house.
     
    miola and ndpjai like this.
  8. Stephen McGee

    Stephen McGee Member

    Joined:
    21st Sep, 2015
    Posts:
    6
    Location:
    Brisbane
    I would actually be looking in the Moreton Shire areas- Kallanagur/Dakabin/Lawnton ect.
    You can still buy under the $400k here- we have bought some great ones and the maintenance costs have been minimal- due to the selection and quaulity of property.
    Yes the houses will be older- but these areas are going through some significant growth- rental yield is good- tenants are good quality and theya re largely aras that over 65% of the trasnactions are attributed to owner occs- so potential for growth is better.
     
    miola likes this.
  9. miola

    miola Member

    Joined:
    22nd May, 2017
    Posts:
    12
    Location:
    Victoria
    Thank you for your advice.
    I can potentially increase the budget up to $500-550,000 (max). Would be looking to find an area for a solid CG potential closer to Brisbane CBD. Would prefer house though. Thanks
     
    JDM likes this.
  10. miola

    miola Member

    Joined:
    22nd May, 2017
    Posts:
    12
    Location:
    Victoria
    Thank you for this tip. I will explore the Moreton Shire areas. Great that it is closer to the coast.
     
  11. dan2101

    dan2101 Well-Known Member

    Joined:
    8th Jul, 2015
    Posts:
    586
    Location:
    NSW
    I also considered Durack but didn’t get a great vibe there. Also some flood affected there from memory?

    If you can go to $500k I’d be looking around Runcorn on the south side and Keperra/Ferny grove/hills in the north. Way nicer suburbs than durrack.
     
    miola likes this.
  12. JDM

    JDM Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    463
    Location:
    Brisbane
    If you can push up to $500-$550k I would be looking for a good buy on a house around the Northgate/Nundah/Wavell Heights if it were me.

    In the $400k bracket I do also agree with the Moreton Bay region if you are happy with something further out
     
    miola likes this.
  13. miola

    miola Member

    Joined:
    22nd May, 2017
    Posts:
    12
    Location:
    Victoria
    Thanks for the tip. I have quickly looked at this area - worth considering!
     
  14. miola

    miola Member

    Joined:
    22nd May, 2017
    Posts:
    12
    Location:
    Victoria
    Thanks a lot for the advice. Will have a look at these suburbs.
     
  15. Asa440

    Asa440 Member

    Joined:
    7th Nov, 2017
    Posts:
    16
    Location:
    Australia
    Thanks guys for your views!
    I will look into your recommendations.
     
    JDM likes this.
  16. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,001
    Location:
    South East Queensland
    With the higher budget, you can push into a south-side suburb (e.g. Runcorn). We've seen some seriously impressive capital gains in the last few years and there's no reason for it to stop now.

    How's the search going?