QLD Townhouses in Brisbane

Discussion in 'Where to Buy' started by Suni, 28th Jan, 2021.

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  1. Suni

    Suni Member

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    Hi,
    I am looking to buy a property for under $500,000 in Brisbane for myself to live in and don't want to go far away from CBD. Looking at the current boom in free standing houses market, I am thinking to buy a townhouse in a Suburb close to CBD.
    Am looking for Suburb suggestions within 6-8 km of CBD to buy townhouses where I can give some Capital Appreciation. I am aware CA from a townhouse is not comparable to CA of a house.
     
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Hi Suni

    We are also seeing decent price growth in Townhouse stock in that inner 10 k ring...........

    Will take a little while to flow through to the sales data though I suspect

    More so thanj suburb selection per se, most of our clients that seek strata stock, they tend to look for 2 things

    1. Limited number of properties on that one complex
    2. A high % of owner occ vs some complexes that are running > 50 % rentals

    ta
    rolf
     
  3. jaybean

    jaybean Well-Known Member

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    Also look for areas without many townhouse complexes. For example I’m Sunnybank you’re looking at...I think 8 in the whole suburb. Contrast that with Runcorn or Calamvale. I don’t know what the numbers are there but it wouldn’t surprise me if we were talking numbers like 50 or more.
     
  4. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    Have to agree with you on this! Townhouses are being snapped up pretty quickly in some of the areas we are buying in at the moment and buyers are having to pay more than 3 months ago to secure them. The data is lagging and takes time to catch up with what is happening on the ground.
     
  5. Coastal

    Coastal Well-Known Member

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    The ones in Calamvale and Runcorn still go up in line with houses. I have noticed this even in the bigger complexes. They are usually worth 50% of what a house is worth.

    I think they are massively undervalued given the location they are in.

    If the current house price increased by 50%, I think they will go up same. The $300k 3 bed, 2 bath 1 car garage townhouse in Calamvale build in the 2000's, end value $450k is not a stretch if Brisbane booms.

    Obviously you have to buy for the right price and not buy off the plan.
     
  6. jaybean

    jaybean Well-Known Member

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    Oh I agree that a rising tide lifts all boats, but what I'm saying is if you want to outperform the market, I think you should buy a TH in an area that isn't notorious for being oversupplied with them. When I bought my TH in Sunnybank I literally went street by street and counted them and was only satisfied once I found I could nearly count them on just one hand.
     
  7. Suni

    Suni Member

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    Completely agree to the point.
    Do you have any recommendation of Suburbs to look at?
     
  8. Suni

    Suni Member

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    Completely agreed. I am after such property at the moment.
     
  9. Suni

    Suni Member

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    I believe areas which are not supplied will go higher than the areas which have. In long run all properties go up in value. It's just the matter of by how much?
    Do you have any recommendation of suburb in inner circle?
     
  10. Suni

    Suni Member

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    Yes, data is not reflected straight away. Do you have any recommendations of suburbs to look at?
     
  11. boganfromlogan

    boganfromlogan Well-Known Member

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    Hi Suni, for a place to live in Carina Heights is nice with links to the city. Camp Hill is great too but price might be a factor.
     
  12. jaybean

    jaybean Well-Known Member

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    Sorry no I don't know where you can find information about TH density.

    I like Sunnybank but I'm biased because I have one there.

    What I did was I literally walked the whole suburb using Google Maps and counted the TH complexes by hand. It's painful but I didn't know how else to do it. I think any suburb with less than about a dozen is good.
     
  13. George Smiley

    George Smiley Well-Known Member

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    A great tool though there could be plenty of areas where a lot of development has occurred since Google Maps has charted them although I suppose these new townhouse developments aren't difficult to track down online independently on commercial sites.
     
  14. jaybean

    jaybean Well-Known Member

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    Most metropolitan areas are updated in Google Maps every 12 months or so, you can see the frequency by looking at the historical snapshots. I think it's pretty reliable these days.
     
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  15. Suni

    Suni Member

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    Thanks for the info mate. I will do a scan aswell.
     
  16. Suni

    Suni Member

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    Yes, i second that.
     
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  17. Coastal

    Coastal Well-Known Member

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    I agree with what you say.

    There are two complexes in Parkinson on Algester Road. The one next to Daintree Drive is in the Stretton State School Catchment. The one across the road next the Beaudesert Road is not in the Stretton School Catchment Zone.

    With some negotiation, these townhouses could be picked up for 290k and will rent for $370 to $400 pw and are the only two complexes in the main part of Parkinson. The rest is residential.

    They are a good combination of cashflow positive and upside for growth. Good for those with limited funds.

    Another good area is Doolandella. There is an oversupply of townhouses in the area but it is a good area. The oversupply has led to townhouses that sold for $360k off the plan 5 to 10 years ago now going for $240k renting at $350+ per week. The land in the area will be all built out in the coming years and given the quality of the area, there will be growth at the current prices.
    Again, this is not a bad deal as there is cashflow and potential for some growth, especially if yo are getting into these properties below $240k.

    Forest lake, Heathwood, Doolandella and Richlands are underrated areas reminding me of Calamvale/Parkinson 10 + year ago
     
  18. jaybean

    jaybean Well-Known Member

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    Yup little bits of insight like this is critical for buying a good TH.
     
  19. Gen-Y

    Gen-Y Well-Known Member

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    My townhouse in Wooloowin is on a block 1100m2.
    2 lots of duplex townhouse on it. Parallel with 2 frontage.
    Each block size is 275m2
    3 bed/ 3 bath / 1 garage.
    $530,000 paid 2014

    5km from CBD radius. Massive land to house ratio. You tell me where you can find some thing like at?
    I did engage a buyer agent to find it, which I gladly pay again.
    No idea what it is worth now, I don’t really care as I won’t be selling it.
     
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  20. wylie

    wylie Moderator Staff Member

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    What rent are you getting for that townhouse (if you are happy to share)?