QLD Up to 750 Brisbane- Where to buy?

Hello Brain Trusts,
Looking to buy a place in Brisbane area with budget up to 750ish as a PPOR initially for 2/3yrs and then to convert it into an IP?
With good capital growth if there is such a thing in this market

 

Here's some random houses in that price range:
https://www.realestate.com.au/property-house-qld-durack-138984323
https://www.realestate.com.au/property-house-qld-bald+hills-138959551
https://www.realestate.com.au/property-house-qld-bracken+ridge-138946435
https://www.realestate.com.au/property-house-qld-forest+lake-138943587

 

Many thanks.
My main struggle is picking couple of good suburbs with room for growth over next 5 - 10yrs in other words suburbs with potential to grow due to ripple effect and concentrating on those couple of suburbs.
Its just too much information and too many suburbs.
Many thanks

 

That's a good price for that part of bald hills but offer over means thye want at lest 760 in agent speak. I have had 4 calls in the last 2 days from re's seeing if I want to sell. They valued my place in 830 plus region. Awesome gc but not looking to sell for a couple of years. Rents have gone crazy as well.

 

wait a few weeks, u could buy in sydney for that price

 

O

Why do they say 6 bed in the listing and in the plan call them utility rooms?

 

Because they probably don't meet legal height required so can't be called habitable space. Sound like they closed in underneath but was not 2.4 high.

 

This happens alot in QLD. The lower level hasnt met code so can't be advertised as bedrooms etc.

 

They are advertising it as 6 though. Or you can say what you want it the description but can't on the plan? Bizarre.

 

What's the Qld law around the window requirement in a room for it to be classified a room.

 

If you stick with the Brisbane Local Govt Area (LGA), then you can't go too wrong. Most likely in the outer suburbs of the Brisbane LGA. There are greater opportunities in this price range in the surrounding LGAs such as Logan, Ipswich, Redland, and Moreton Bay but would need to do further research, whereas in Brisbane LGA, it's more about finding the property, perhaps more so than the suburb.

 

If you are not local you should be aware majority of houses in that price range in Brisbane are old from the 60's or 70's, have asbestos walls or roof, downstairs they are usually not liveable or not as expected as height is lower than normal, external timber that requires lots of maintenance, mould after raining, missing insulation.... always check for the flood map as plenty are on flood or overland flow map or on a main road hence the price. Not easy at all to find good properties unless you buy and make huge renovation that doesn t always pay as the house will still be old underneath so better spending a bit more and not having to worry about hidden costs for maintenance especially now that material prices and trades are so expensive. Further out you can find normal properties (i. E. Brick veneers) very low maintenance but if you have to live there for a while I would consider very well where to buy. Further out suburbs might not be as good to live. Northside is generally better but more expensive because of that.

 

Wow !!! as someone who is doing some research for my son who could afford around $400-500 max, this is a real blow... so where exactly are all these well performing properties we hear about in Brisbane...? it's really confusing

 

And sorry - forgot to mention we are from Sydney looking for some affordability up north... if such a thing does exist?

 

Up to 750k is still possible in various areas of Brisbane.

For example from an area I watch:
29 Mulgara Ct, North Lakes, Qld 4509 https://www.realestate.com.au/sold/property-house-qld-north+lakes-138923187

For 500k, I really don't know. Check what sold on Realestate.com.au in South East Queensland.

 

I honestly doubt you will find anything in Brisbane in the 400 to 500 range as the market has moved a lot. Suburbs like Inala on seen as bad areas have undergone a lot of gentrification and are too moving significantly.
Areas outside of Brisbane lga such as ipswich, Logan and Moreton (petrie, Northlake a etc) have also moved a lot but you may find some closer to your budget. Be aware some of these are also have areas well above your price range.not all older houses are bad just get a really good building inspector and ask the pointed questions. They are always happy to steer you clear of a crap purchase in my experience anyway.
Enjoy the hunt.

 

For $500k you dont have many options.

Ipswich is probably your best bet now. Logan is getting very expensive. For $500k you'd be getting a 3 bedder that needs a tonne of work and fixes.

Moreton Bay you got no chance at that price bracket.

 

The benchmark now is that $500k-$600k is the new $300k back in 2017.

Inflation and trillions of printed money have caused assets to balloon in price.

If you bought back in 2017 $350k-$400k would get you some nice places (at least very decent ones) in Moreton and Logan LGAs. Now at this price your only paying land value.

 

@Jungle Have a look at the house on Bunya Park Drive right in front of the Eatons Hill State School. Coronis' description is not correct - the property is very close to shops and schools. PM me for further local info if you are interested.

 

Yes you can still buy up to $750K in Brisbane. What you should buy and where you should buy is the question! Brisbane is NOT a single property market.
What and where you should buy then depends on your growth and yield requirements as well as your exit strategy, risk appetite and taxation status. This comes back to the right investment strategy for you based on your unique circumstances. Property investing should never be a "one size fits all" model.