QLD Thoughts on Bracken Ridge

After discarding Griffin as a potential area to buy in from multiple warnings on here, I was wondering what people's opinions on the Bracken Ridge area are?
It seems to be a much more established suburb than Griffin.

P.s- thank you so much to everyone who contacted/gave advice to me on the Griffin area, I was fully prepared to purchase that town house until discovering Property Chat.

 

Bracken Ridge has two sections, the old Housing Comm section and the rest of it. Pretty much anywhere in the "rest of it" is nice. Similar to Griffin, only it is older and closer to the CBD. Being in the BrisbaneCityCouncil LGA, it is more expensive than any suburbs in Moreton Bay Region. But only a tiny bit more expensive. Much nicer than Zillmere.

It has all the benefits of Griffin but is closer into the City - ten minutes to North Lakes town centre, close to the airport, ACU, beach at Sandgate, motorway, ten minutes to Chermside Westfield and near enough to Chermside hospitals. Close to train stations.

 

Awesome @Angel I assume it is also set to piggy back of the Moreton Bay region's population growth as it is still relatively close?
Also, would you reccomend a house & land package for a suburb of this kind or a townhouse?
Cheers!

 

Hi @Dane Clarke, I was much in your position 3 years ago at a similar age and I took the plunge. We can think all day and night, but pulling the trigger was the biggest emotional barrier I had to get over.

In regards to Property why not have a look at Deception Bay, it's my personal favourite at the moment and is on the other side of North Lakes. You can purchase a whole house close to the water < $400K.

 

I would not be looking at a HL package and probably not at a townhouse. We bought my elderly mother a townhouse a few years ago because she wanted to live in it and it was cheaper than a house, all she could afford. But for investment, for capital growth, a stand alone established house will usually be best in Brisbane. Mum's t'house has increased in value since she bought it, but houses in the same suburb have increased exponentially.

There may be some new estates in Bracken Ridge and certainly in adjoining Fitzgibbon, but I would personally go for established based on what I know. There is plenty of depreciation for newish homes.
(Maybe there is new info or research that I don't know about.)

 

Bought Q3 2015 for low 400, recently valued (desktop valuation ) at mid 400. Slow and steady.

 

I have bought in Bracken Ridge for low $415k about 8 months ago. Got valued at $437k by the bank few weeks ago because I was looking at taking out some equity.

Rental I get there is $430 per week not bad about 5.4% yield.

 

What are the streets that surround the old housing commission? When you say old do you mean its still there or its moved on? TBH every suburb has housing commission. Even in Sydney's most expensive suburbs have public housing - the government does this as not to discriminate against less fortunate people.

 

Bracken ridge will eventually get the busway. Eventually

 

Not in Brisbane. HC ceased building houses a long time ago, so suburbs developed since then wont have any. They have units in established suburbs like Zillmere, Gaythorne and Mitchelton.

The HC style section is fine to live in as far as I know but the land is the lowest part which may be overland flood affected, at the bottom of Norris Rd and along a part of Bracken Ridge Rd. This is adjacent to the Gateway Motorway and noisy. A few rows of rectangular timber houses that all look the same, and some brick/timber ones: mostly on-sold.

The all-brick estates in BR from the 1980s onwards are on elevated land plus the homes are newer, larger and more interesting design-wise than the older homes.

 

Anyone done any revaluations in Bald Hills and Bracken Ridge lately?

Interested to see numbers of recent times. I just had a very very good revaluation come back and lets just say its a significant increase.

Market in Bald Hills and Bracken Ridge is on the up and up - I'm even more confident in these areas after the reval.

I reckon its still a very good time to get into these areas. Give it few more years and its gonna be awesome to investors.

 

What type of revaluations are you getting? Bank desktop vals? Or full blown proper vals?

 

These are all full proper valuations with a licensed valuer attending the property. I dont talk about desktop valuations and these days I dont think any lender relies on desktop valuations at all.

 

do you mind sharing what sort of percentages growth you are referring too? Only had a desktop valuation done recently.

 

Purchase price circa $420k, valuation came back at $490k. Around $70k jump in value in approx 18 months. At the 6 month mark after purchase it vals were around $437k. So last 12 months has picked up.

Thats not too shabby and I think I bought a little too early.

Its going to heat up from here on in. Because of this I'm going to start the balling rolling on revals for all of my Brissy houses located on the North.

I had feedback from 1 other person who also had a recent valuation. Came back very good like mine done from a different company so definitely moving.

It even says in the report "Greatly improved conditions and market activity".

 

Bought our BR 2015 - low $400, desktop reval last month at $499K. Note - desktop reval. Happy with slow and steady ...

 

@Taku Ekanayake - how are your BR IP going?

 

Wouldn't be surprised if that came back in the low/mid 500s if you paid a good price for it back then.

 

Almost every single month the REA ask me if I want to sell my 3br house at Bracken Ridge. Purchase price $300k - 2013.

 

BR has excellent schools, easy access to everything. 5 mins to bayside, 26mins on train to cbd from bald Hills, 40mins to surf beaches in Bribie. Great for families.