Join Australia's most dynamic and respected property investment community

QLD Upper Mt Gravatt or Bayside

Discussion in 'Where to Buy' started by D&J, 18th Apr, 2016.

Tags:
  1. D&J

    D&J Active Member

    Joined:
    20th Jun, 2015
    Posts:
    38
    Location:
    Sydney
    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!
     
  2. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,920
    Location:
    Sydney
    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....
     
  3. D&J

    D&J Active Member

    Joined:
    20th Jun, 2015
    Posts:
    38
    Location:
    Sydney
    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!
     
  4. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,920
    Location:
    Sydney
    You can look at buying in both areas at the same time. Whichever presents an opportunity that's worth pursuing, go for it.
     
    Observer and wylie like this.
  5. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,931
    Location:
    Brisbane
    I know nothing about bayside prices but you can still grab a basic house in UMG under $500k if you move quickly.
     
    D&J likes this.
  6. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    You know the best way to find out?
    Have a look ;)
     
  7. D&J

    D&J Active Member

    Joined:
    20th Jun, 2015
    Posts:
    38
    Location:
    Sydney
    Azazel, I definitely am! :)

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

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,931
    Location:
    Brisbane
    It has always amazed me that people would be happy to rent our old (but well maintained) houses in Coorparoo over a much higher spec house a little further out. But everyone weighs up what is more important to them. Someone wanting to rent bayside isn't going to consider looking at what is available in UMG and vice versa.

    Renters choose which is more important to them. For the same weekly rental they can choose close to city and smaller or older house with lower spec, or better quality and spec but considerably longer commute. Thankfully there are as many tenants with different views as there are houses available with different attributes.
     
    Last edited: 18th Apr, 2016
    Kookaburra777 and Bran like this.
  9. Blueskies

    Blueskies Well-Known Member

    Joined:
    24th Aug, 2015
    Posts:
    192
    Location:
    Brisbane
    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).
     
    Observer, Richard Williams and wylie like this.
  10. Blueskies

    Blueskies Well-Known Member

    Joined:
    24th Aug, 2015
    Posts:
    192
    Location:
    Brisbane
    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
     
  11. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,217
    Location:
    At work
    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.
     
    Last edited: 18th Apr, 2016
  12. Whitecat

    Whitecat Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    1,088
    Location:
    Brisbane
    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?
     
  13. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Good on you.
    Get out there, speak to agents, make some offers.
    If you don't get any result, time to adjust your expectations.
     
  14. HUGH72

    HUGH72 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,123
    Location:
    FNQ
  15. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,214
    Location:
    Sydney
    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.


     
  16. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,931
    Location:
    Brisbane
    DOH!!! Just realised I wrote UMG but really meant to write MGE. I don't know much at all about UMG except that it seems very commercial, very busy and lots and lots of apartments.
     
    Observer likes this.
  17. Whitecat

    Whitecat Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    1,088
    Location:
    Brisbane
  18. HUGH72

    HUGH72 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,123
    Location:
    FNQ
    Looks like the owners might have agreed to sell together creating large medium density block available for developers.
     
    Kookaburra777, Observer and Whitecat like this.
  19. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    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)"
     
  20. HUGH72

    HUGH72 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,123
    Location:
    FNQ
    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.
     
    Whitecat likes this.