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:
    2,718
    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

    Joined:
    18th Jun, 2015
    Posts:
    25,035
    Location:
    Vaucluse, Sydney.
    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:
    465
    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:
    465
    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:
    2,718
    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?
     

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia