Just wondering what are people's current opinions on Acacia Ridge? Looks like the cheapest when considering the proximity...
I've been looking in that proximity as well. The main thing that puts me off is its right on the Archerfield Airport. With this, will come noise. I have been looking at aircraft tracking apps and haven't seen anything too large come out (or in) to it, but I would imagine it be similar to 'Bankstown Airport' in Sydney which hosts a variety of small planes, up to smaller jet planes like Learjets. EDIT: The runways simply aren't long enough to serve anything bigger like a 737, after some investigation. You'd have to especially be on the lookout for their training flight plans too. There are 8 flying schools based out of the airport.. so they would have a constant flight plan of flying around the airport within 2km at low altitudes (1,000ft/305m).
There is noise intensity float on the internet which could be useful. Last time I looked that audio extends out to Sunny Bank hills. There are a some LMR in AR that present good value if it's under 400k. It's probably the cheapest dev lot in BCC.
A decent portion of Acacia Ridge is industrial, and you've also got Beaudesert Road running through it which I'd stay away from. It's always seems to be on the list of suburbs in Brisbane with the highest crime rate, and not somewhere I'd choose to live. But it's next to some very nice suburbs in Algester, Sunnybank and Stretton, and at a much lower price tag.
I think cheapest doesn't mean best prospects for growth. Needs to be seen in perspective. Lets compare Acacia Ridge to nearby Sunnybank Hills. www.sqmresearch.com.au/asking-property-prices.php?postcode=sunnybank+hills&t=1 SQM Research - Weekly Asking Property Prices Asking price of all houses for Acacia Ridge: 505k Asking price of all houses for Sunnybank Hills: 662k At first glance you could say Acacia Ridge is over 150k cheaper (ignoring fundamentals and everything else) so surely it's better to buy there. But have a look at the 3year % change between the 2 surburbs. Acacia Ridge 3yr % change: 31% Sunnybank HIlls 3yr % change: 15.5% A.R has experienced significant more growth in the last 3 yrs. Is it still a better prospect?
Interesting analysis, I am not a fan of A.R but its done surprisingly well. It might be due to its relative affordability compared to its neighbours. Shows that not liking an area doesn't mean money cannot be made. The area is low socioeconomic yet its not that far from the BN CBD compared to Logan. Archerfield airport noise isn't much of a problem, it only caters for aircraft below 5700kg. The problem is heavy industry and the fact that it's main arterials are probably the busiest transport routes in Brisbane. The roads are clogged with trucks. Some of the suburb is low lying and flood maps need to be consulted.
Hi everyone, I can see this post has not had anything added to it in over a year. What does everyone think of the area now? Any improvements or potential?
Its not a bad place to invest, even in the current market, due to the fact that every suburb around it is more expensive... Algester, coopers Plains and Sunnybank Hills. Was looking at the logan area prior, but seriously, if Brisbane booms, it'll start with the closer burbs rather than the affordable ones. I'd probably landbank a LMR site there
I started my career working for Ray White Acacia Ridge in 2010 right about the time part of the suburb was LMI zoned. The area has gone wild since then (mostly LMI zoning), I'm DEVASTATED that I didn't save my pennies and purchase a property there when I had the chance. The worst part about it now is that you all missed out on buying a 3/1/1 fibro mid-set on 650m2 for $320,000 in 2010. @KevinJ is spot on- every surrounding area is much more expensive and sought-after. How long will Acacia Ridge be overlooked? The main arterial roads are busy, but where aren't they this close to the city? You've got good access in every direction. The industrial area is very very separate and you could live there for years without really noticing it. Noise from the airport is non-existent. If you look around, Acacia Ridge is really the only sensible southern outward movement from Moorooka. Very very very very little of Acacia Ridge is flood affected, maybe one or two streets by the creek from memory? Archerfield was significantly affected but it didn't really intrude much further south. A very very large proportion of homes are ex-housing-commission. They're usually very solidly built but also a big job to renovate. There's also still a very large lower socioeconomic population in the suburb that brings down the feel of the area- just take a quick look at the local shops, they're tired, but is this a bad thing if you're looking at future growth?
I was looking in 2010 Tom around the 300k mark. Good ex houso stuff on splitter blocks. Anyhow.. It's a weird suburb because some parts flood but up on the Ridge are some stunning blocks with views. Yes it's industrial but people want to work near where the work is don't they?
Just bought an LMR site there for just over 410K with a rent potential of $350-$370 p/w. It was only a 2 bed cottage, but had a 70m^2+ shed on a concrete slab with three phase power . Not much in terms of real growth metrics so far in the past 7 years, if you factor in inflation etc, however, the overall vibe of the area is still much nicer than areas such as Richlands, Inala and any area west of the M1 in Logan. Will be getting a neutral cashflow from it, however I don't see it performing too poorly if BCC booms, and the growth potential of LMR sites are always solid if there's population growth. Since I'm based in Sydney, the area reminds me of area such as: Strathfield South: 16KM to CBD and right next to the largest cemetery in the Southern hemisphere, Rookwood. Next to heavy industrial areas as well, but bordering semi-prestige areas such as Strathfield. No station. Lidcombe: 17-19KM to CBD and also bordering cemetery and heavy industrial areas. Yet some R2 (low resi blocks) bordering parramatta road and yet to be rezoned now sell of $3000p/sqm. Station is also on the northern tip of the suburb and most land titles are not within a 25 min walking distance of the station. Both suburbs have easy access to all directions and had a below average workforce and bordered much higher priced suburbs.
@Tom Rivera What are your thoughts on the below property? 7 Callard Street Acacia Ridge Qld 4110 - House for Sale #126046838 - realestate.com.au I am new to the investing game and am starting looking about to make my second purchase. My strategy is buy, reno, hold and reval to go again. I am trying to stay CF+ or neutral but close enough is ok too. My first buy was in Logan but I want my next to be in Brisbane if possible. This property is under contract so I'm putting it up as an example of what I think looks like good value in Brisbane and not flood affected. Very comparable to property's in Logan but less than 15km to Bris CBD. This property would rent for plenty more than 400 in Logan. I understand this suburb is low socio but what else am I missing?
Acacia Ridge is a great spot for your strategy- plenty of solid homes that have been neglected and ready for a cost effective renovation... there's LOTS of Asbestos, which may or may not lend itself to certain DIY-reno types. The whole suburb is under-rented relative to the location, which should slowly correct as it continues to get dragged upmarket. There's also been talk for years about the LMR Zone expanding, but I'm sure it will be quite some time till it happens, so nearby LDR values haven't moved in anticipation. _______________________________________________________________________ The old high sets are pretty sturdy, housing commission built them solid. The house has been owned since 2000 by the same owner, first since the government. It looks like she's done a great job of maintaining it and I can't see any necessary immediate expenditure. The $400.00wk rent is about market, so you could expect that to continue even if the tenants left. It is on the east side of Beaudesert Road, which cuts it off from the rest of the suburb. There's not too much noise from the rail yard but there is a bit of a stigma about homes on the eastern side. I also doubt there's much hope of ever rezoning, that whole pocket is still LDR Low Density Residential. It's pinned against the road and rail yard, and quite a few homes are more modern lowset bricks built later than the housing commission properties. See attached map, the darker pink areas represent the sought-after LMR Low-Medium Residential zoning, lighter pink is LDR. _______________________________________________________________________ If you bought this $390,000 you'd be looking at a gross yield of about 5.3% which is a bit lower than what you'd expect in Logan, but the capital and rent growth should be pretty positive- just keep in mind other areas of Acacia Ridge will grow faster with their development potential, which has been the primary driver of movement in the suburb. If closer inspection revealed no imminent maintenance (roof, slab, structure, timber steps and balcony, etc), it should be pretty stress free for an older house.
@Tom Rivera Thanks for that Tom. I was thinking it has potential to fetch more rent as it is actually a 5x2 not a 4x1, with dual living potential with kitchen & bathroom on both levels. This would achieve good rent in Logan. 450+ Cheers H
Brisbane City Council wont allow you to separately rent the two spaces. I'm also a bit suspicious as to why it's been listed as a 4/1 if it's a 5/2, downstairs doesn't look that low but the usual reason is that it's not legal height. You do make a good point though, even if it's rented to one tenancy. Families with teenagers, grandparents, uncles/aunties, friends, etc will pay a premium for separate living. It's hard to say what sort of premium that might bring at face value.
