QLD Up to 700 Brisbane- Where to buy?

Pretty accurate to my knowledge. You may want to cross-reference this information with other credible sites to improve reliability. Note, there will likely be small discrepancies across most metrics (maybe not 12 days though).

 

For that price point, I like the following:

Moorooka - Currently being gentrified. Good distance from city with bus and train line. The shopping strip on beaudesert road is ripe for development. I would prefer properties in the area that borders Annerly and Tarragindi. I don't own here but my sister lives here and its clear where the suburb is heading. Lots of Queenslanders being raised and reno'd

Salisbury - This is next to Moorooka. Also has a train line which i believe will be upgraded. Doesn't look too far behind Moorooka in terms of gentrification. Good size blocks available but there is an industrial strip along Evans rd which you should be aware of.

Carina/ Carina Heights - borders great suburbs like Coorparoo and Camp hill and still affordable. Close to Westfield Carindale and plenty of large green spaces around.

Mt Gravatt/ Upper Mt Gravatt - Pretty good area if you can find one in the right spot. Ideally, easy access to Westfield Garden city where the busway is (soon to be Brisbane Metro). This means easy access to CBD, Griffiths university, Matter hospital. Should be aware that Logan Rd and Klumpp rd are pretty busy.

 

I’d say carina/carina heights and mount gravatt areas are out of that price range

 

what free sites would you use to cross reference?

 

Median house prices in those areas are above $700k but I think you should be able to pick up a decent 3bd 1bth in Carina/Heights. Mt Gravatt may need a bit of a touch up but worth keeping an eye on.

Good luck!

 

You can have a look at SQM research for data on a range of metrics.

 

I missed out on one 3 weeks ago where there were 26 offers after the first open. Nothing wrong with demand

 

26 offers, wow. What was the address?

 

Located in kings park estate

 

Be careful relying on data right now. It is historical. I can guarantee based on the # of people on the ground inspecting properties in many locations through Brisbane and also based on the # of offers being submitted on properties that are listed for sale that data does not always accurately reflect real time demand!
This is a useful article to help you understand why data needs to be interpreted with caution:
Be Cautious When Relying Solely on Property Data

 

You are right, data does lag and cannot always be 100% reliable. Although, using solely an agent's opinion would seem quite anecdotal. How would their perspective encapsulates what is happening in an area? it would subjective. Of course, they can give an indication of what is happening on the ground but one set of eyes would likely demonstrate less validity than a range of data sources contrasting numerous metrics.

 

I would also not recommend relying solely on anyone's opinion either! Investors need to do their research. My post was merely highlighting the risks of relying solely on data - especially in a fast moving market.
The BEST method is using a combination of both quantitative and qualitive research. Combine data with an on-the-ground perspective.
It is also important for that on-the-ground perspective to have context. Qualitative research requires a long term understand of HOW the real time demand has changed (or is changing) as a consequence of changing market conditions. When we know the changes that are happening on the ground are reflective of market shifts - we always see it in the data retrospectively.
In Brisbane right now I know that there are some areas where it is "normal" to have 15-20 offers on most properties listed for sale by private treaty after the very first open home (sometimes even more).
I also know other areas where it is normal to have between 5-7 offers on a property.
Clearly the current demand is higher in the first example here.
This is real-time data that we track in-house and it is actually invaluable to see how the demand shifts month to month.
The best option for any investor to to research areas using the data, and then get out on the ground to "see" and "understand" what is actually happening right now.

 

I agree, integrating both approaches into your search would yield the most accurate results. Though both methods still focus on statistics and it is the information derived from these statistics which paint the picture. So data is still a necessity to drive educated investing but there can be multiple sources used to obtain this information, (historical or on-the-ground).

 

I just saw 82 apartments to be built at the Ferny Grove train station “Fernery Apartments”.
Will this impact upon price growth of houses in Ferny Grove?

 

This development: https://www.fernygrovecentral.com.au/ is one of the reasons I was looking around this area for my recent purchase. I would think it unlikely that a new large retail precinct with cinemas and multilevel car park on a train station does not increase demand for the suburb and surrounding suburbs. I also don’t see why 82 apartments would decrease demand for houses in the area, usually two different markets?

 

I am also looking at Ferny Grove/Hills because of not only this $140 million development but also the high school in Ferny Grove has had (I think) $20 million invested into it. Just as Mitchelton and Everton Park are going through a gentrification. Ferny Grove/Hills will be the next to boom. If you can pick up a house here for under $700k in 10 years I have no doubt it will double in value.

 

No hope in hell getting a house in Ferny Grove under 700k. Unless it needs work

 

What is peoples take on public housing.
I just missed a house on Tonlegee St and another on Coleraine Street in Ferny Grove.
While the suburb only has 2% commission houses, the pocket in which Tonlegee lies has 16% and Coleraine 9% (microburbs). A quick drive through on google earth and there is a mix of real nice houses, average, and likely public housing- Tonlegee probably worse than Coleraine.

How much of an impact will this have on the capital growth of the property?

 

Hi jamie! I think to answer your question, about buying in a street with high housing commission ratios like Tonlegee, would come down to risk management. Yes you would get the benefit of buying low and potentially getting more house for your money in a overall good suburb. But the negative impact of living next door to housing commission is well documented and could be too high of a risk. It would be for me. I would wait until more of the housing commission was being sold privately before buying in one those streets but I would miss out on more property growth because of this risk aversion.

 

Nice ppl live in public housing.

I would go the other way citing making $$ out of ppl's aversion to difference.

The real problems in life (ie. body in the box in 4007) don't come from ppl making ends meet.