QLD Upper Mt Gravatt or Bayside

Hi all,

I've narrowed my search area to two areas which appear to have had strong recent growth, good CG prospects and 'appear' to be within my budget of ~$500k.

Im starting to look at Upper Mt Gravatt and around Tingalpa, Wynnum West etc.

It looks like I will have more options around the Bayside suburbs so I'm wondering whether you all think I can realistically get into Upper Mt Gravatt for that price?

Is there a particular precinct, streets or even a style of house I should try to avoid?

Thanks!

 

I think they are both good areas. If you go bayside try for a house with water views. But it might be very difficult at 500k... you can go a couple of suburbs out and possibly get a bit more bang for buck, though 500k may or may not still get you the water views there either....

 

Thanks Gockie!

Yeah from the research I've done, I really like both. I guess I'm not sure whether to focus on one over the other as a first preference or just see what deal comes up first. It also looks like Upper Mt Gravatt might be at a stretch based on recent moves!

Water views would be nice but I think that's going to be a little ambitious at around the 500k mark.

Thanks for your thoughts though!

 

You can look at buying in both areas at the same time. Whichever presents an opportunity that's worth pursuing, go for it.

 

You know the best way to find out?
Have a look

 

Azazel, I definitely am!

Wasn't sure if I needed a wake up call lol

 

My vote goes to UMG. Comes out ahead on most measures, Westfield, Griffith, major transport corridor, employment in the area, increasing density/development. You will never have a problem with vacancies and in twenty years it will feel like Paramatta (major satellite hub).

 

Also do your due diligence on zoning in UMG, Lots of apartment blocks going up, depends what you are after but I've seen some houses just outside the medium/high density zone going at a discount, I am guessing because people don't want to live that close to a high rise! Somer soft thread on the topic: Buying Home in High Density Zoning - Somersoft Property Investment Forums

 

Yeah, I've avoided UMG for this reason. There is a little too much going on. I prefer slightly closer to town where access is still easy, but there aren't 10-15 story developments casting a shadow on your yard. Plus UMG is a bit soulless to me. All business.

 

I was visiting someone in UMG last night. Drove down Cremin Street. House after house had a for sale or sold sign. I haven't seen such a cluster before.
I wonder why?

 

Good on you.
Get out there, speak to agents, make some offers.
If you don't get any result, time to adjust your expectations.

 

Rezoning I would think, valuable land in a major hub with old houses, I know one street over used to have a little HC as well.
47 49 Cremin Street Upper Mount Gravatt Qld 4122 - Residential Land for Sale #201322914 - realestate.com.au

 

Go with Tingalpa, Wynnum if you want more growth.

I am not convinced the far Eastern Baysides will grow above the median unless you are buying under 400k in which it is worth a look in.

 

Very late 70s or early 80s brick seemed to be.

 

Looks like the owners might have agreed to sell together creating large medium density block available for developers.

 

Is it 1 or 2? "Two adjoining homes in the heart of Upper Mount Gravatt combine to give a total of 1194 square metres"
"Land Size:1791 m² (approx)"

 

I think it must be 2 houses with one on a double block? I haven't looked any further into it.
$2.32 million for the lot? Individually they might sell for mid 500s or more depending on size and condition. Maybe more considering zoning?
If they can get that much they will be doing well.