QLD Thoughts on Wishart and Mount Gravatt East

I'm looking to buy a property in Brisbane priced around 500k through a buyers agent. We have a few suburbs identified but I'm particularly interested in Wishart and Mount Gravatt East due to slightly higher household income and proximity to a large shopping complex.

I'll be going up to Brisbane to have a general look and feel for the suburbs but I wanted to have a feel of people's thoughts on those areas for an investment and at capital growth. Are there certain things I should be aware of that make them particularly bad? (e.g. Lack of public transport) or has prices already spiked and I'm late to those areas?

I'd appreciate Anything from those who know a little about those areas to get me thinking and bounce off my BA would be grateful. Thanks!

 

Not a big fan of both areas (for a PPOR) but they are very popular, which means they are probably good areas to invest in. I could see myself buying in MGE if I stumbled across the right property. Although I wonder what you could get for 500k - I suspect it won't be anywhere near the best parts of the suburb.

 

I think if you do a search here and on SS you will find a thread on these and Upper Mt Gravatt etc

 

MGE has put on a lot in the last year (median house price). Would have loved to buy there 18 months ago.

Probably some more left in it though.

 

I like Mount Gravatt East, and bought a developable block about 5 years ago and so far it's my deposit maker.

I've just had a reval go up about 12% in 3 months, and about 25% in the 3 years before that.

Its a convenient and well-serviced suburb. I'm not sure whats happening with the HC out the back of the suburb - some of the houses are being sold off but replaced with higher density dwellings... I'd watch this, but by and large I don't think it would deter me if I could find something I thought was value, and I still look.

 

It's a good area, not far from the City.
But as already stated, it's had a fair amount of growth recently.

 

Agree. My friends and I were buying homes in MGE roundabout that time for a steal. Happy times already and more ahead.

 

There is a new Coles going in. Woolworths is being renn'oed. Aldi was just opened. Bunnings has been there a while. Wesfield Carindale is 10 min drive. Westfield Garden City was just expanded (biggest S/C in QLD supposedly) and is 10 mins drive the other way.

15 mins drive to CBD in non-peak period. 35mins in peak. 50 mins to Gold Coast. 30 mins to airport. 90 mins to Sunshine Coast. Bus comes every 10 mins in peak ( 45mins to CBD).

Not a lot to dislike!

 

So I guess if there's any risks in buying in MGE is that it's already experienced some growth and so short term CG may not be as high as some other suburbs. I'm thinking very long term (30 years) so short term growth isn't the be all end all.

Thanks for your input everyone!

 

as with any property, need to ensure the right property in the right location. From a suburb fundamentals perspective, mge and surrounds tick the boxes .

 

+1 for MGE and agree with what's been said above.

Bought there just under 12 months ago and have been very happy so far. Did a quick cosmetic update and never had any problems filling it.

There are quite a few older houses (post-war, 1960s) in original condition that have lots of potential for value-adding.
Had a chat with the next-door neighbour who is a builder - he said lots of young couples and families are moving in and that there is quite a bit of renovation work being done leading to a bit of gentrification.

Hoping for good things to come - go Mount Gravatt East!

 

Hey guys, we're looking to buy our first IP. We nearly got sucked into a property which we now realize isn't great. We're looking for feedback from more experienced investors so we can get an idea of exactly why it was not a good idea.

It's a townhouse in Wishart, 3bed, 2.5 bath. 1 car. It's priced at $479K. $2,500 strata and the property is about 1 year old. We were told the ability to claim depreciation would be a good thing and that we can only do it with newer properties. Already rented at $440/wk.

I think the location is pretty good but it's overpriced if I'm not mistaken. Any feedback would be greatly appreciated.

 

I prefer Wishart, some decent schools, parks and a bit quieter. Both are good locations with good transport.