QLD Thoughts on Redcliffe Peninsula

Those of you who are familiar with the Redcliffe region, do you think it has run out of puff or do you think there is more growth coming over the next few years.

Then more specifically, do you envisage growing demand for units/townhouses? When I used to study this area for several years before we purchased, townhouses seemed to be just as popular as houses. These days they don't seem to be as popular.

 

I think growth will continue.

Rail link will be finished soon and improve public transport access to Brisbane.

MBRC is also purchasing land for a future University campus at Petrie.

Moreton Bay council spends $50 million on land for university | brisbanetimes.com.au

This will be a 15 min journey by rail from Kippa Ring to Petrie .....

http://mobile.translink.com.au/site...ves/mbrl/moreton-bay-line-draft-timetable.pdf

 

Angel, have a look around at suburbs such as Bracken Ridge - some great value homes there 80/90's circa on large blocks at reasonable prices - only 5 km to the village feel of Sandgate and the waterfront, train line from Sandgate, regular buses from Bracken Ridge to CBD etc...a little hidden gem

 

I bought in Bracken Ridge last year in October. Bought a lowest brick 3,2,2, late 80's build on 640m2. PP $379K. Just had a bank reval last month and came back at $420K. Didn't have to do any reno's except the hot water system burst which cost nearly $2K. Super wrapped with the val and I've had good tenants paying $400/week (5.5% yield).

 

Fantastic...we rented a home within 48 hours of listing there a fortnight ago

 

We bought one in Kippa - Ring and one in Margate (both 3x1x2) this year and both were rented out immediately with the one in Margate not even making it to listing saving us the cost of advertising, photos etc.. Both gross 5.0%+ yield.
Prices have definitely moved but hoping we've only just caught the start of the wave.

 

Bought 5x2x2 in Scarborough this year (actually 3x1x1 and 2x1x1 if I want). Rented within the week. Gross about 4.8% yield (could have got 5.7% but harder to keep renters and overall cost would be more with changing them).
There's an indication it has gone up about 3-4% in 4 months.
I don't think the change has happened to who is renting - at the moment it's still the usual bunch, but I think within a year or three there will definitely be a change in demographics in some parts of the peninsular. For example there seem to be a lot of long-term renters who are renting from locals who have some local IPs that rent at under-market rates.

 

browsing Redcliffe on Re.com and comparing it with DBay...Redcliffe looks better. There are big and small blocks...seemed to have moved a bit.

 

I think all you are seeing is ripple affect and Redcliffe moved first. It will be harder to find properties below value in and around Redcliffe. Yields were also generally lower than DB.

Kippa-Ring being the end of the rail line is a good location. Under the new MBRC scheme some areas have been rezoned near the new railway station and near the hospital and shopping centre.

Kippa-Ring was hot when I was looking in April/May.

Edit - anywhere along the rail-link will do well, particularly with rezoning towards medium and high density. A university campus is planned at Kallangur and that will bring a student population into the area ( using train to get to Uni ).

Rothwell in my opinion has the worst flooding risk.

 

@Angel you should change the thread name to "lets hype Redcliffe peninsula "

 

Was in Redcliffe this morning visiting the oldies. Reading the local Redcliffe Herald, and a lot of listings, with prices seeming to be quite high.

 

What's high in your opinion? More than $350k?

 

@Angel were you the same Angel in this thread? Redcliffe/Scarborough or North Lakes? - Page 2 - Somersoft Property Investment Forums

 

More like the number over $500k, up to 700/800. Properties that were in the mid to high threes not too long ago were being advertised in the mid to high 4's.

That is advertised price, so not sure if they were selling. There were more than usual listed.

The oldies recently told me they think their house could sell for 500k, I think an agent had been pumping them up. I am thinking more low 4s.

 

They should have taken the train to near the water imo. Would have been great for local tourism and made the bay accessible to a lot of people

 

You'd think so, Whitecat. The train line is built on vacant land but once you get to where it terminates, it is totally built up all the way to the coast. Someone failed at town planning a hundred years ago. The original plan was to continue the line from Sandgate

 

Hopefully new bus routes will be implemented to achieve that access.

 

Take it down the middle of the street. You'd still have to have the nighttime holding yards at the larger area, but it could add two new stops near the hospital and next to the shops. Pity that the central median strip doesn't extend the whole way to the bay though...

 

Similar at the GC, why does the train stop at Helensvale, then people have to catch the bus into 'town'. Odd.

 

Let's bring back the Redcliffe thread !

How has everyone faired the past 4 years?