QLD What's the Deal with Rochedale?

Asians are buying up in Rochdale South & Springwood. They own a lot of residential houses on big sub dividable blocks and commercial IP's. The last 2 W/E I have observed numbers at opens, they stick to good condition brick low or high set with flat blocks. They shy away from challenging renovators.....just my own observations

 

The thing is the prices here in Rochedale, would it be fair to say, are getting towards Ascot/Hendra territory in 1.3mil+ - Brisbanes premiere suburbs compared to farmland

 

That was approved a couple of years ago but there has been no further action.
Marg

 

IMHO, there are now a lot of suburbs in the $1.3M+ range, besides Rochedale - Carindale, Seven Hills, Chandler, Gumdale, ... - I feel $1.3M is now becoming the norm for a lot of suburbs

 

You investors have to take off your frugality glasses and see that these rich OOs only want the best, newest, fast and now. Why buy a knock down in a "cheap" suburb and get their hands dirty with all that hassle, where is the prestige in that? The buyers are going "shopping" with their birthday money. It would be shameful to spend less than their friends and brothers did.

What's not to love about multiculturalism

 

After going there yesterday, I can see the appeal.

Nice houses everywhere, a semi-gated community - well Rochedale Estate anyway with the body corp, lifestyle centre, and 24hr security. It's like the new "The Avenue". I guess people are willing to spend an extra 30%+ mark up on the land price (that it would be otherwise worth based on location) simply for those externalities.

 

You are correct it is glorified farm land, with no infrastructure and you have the dump on your door step and industrial at the end of the road also.

 

It's the GLORIFIED part that is adding value. It's all premium houses and owner occupiers, that's where the value is from. If people started to build high spec 600k+ Metricon houses at Yarabillba, might have same effect. It's a self fulfilling prophecy now - but given it's already ****** - perhaps the externalises are worth it.

After all the glorification is what people are paying for.

 

I may be bias as I live in the rochedale estates (although this all happened before I got interested in property, and if I had my time again would look at alternate options with greater growth potential), but for someone with a young family and without the need to travel to the city for work everyday it is a convenient location for us. Easy access to airport and motorways to sunshine and gold Coast.

Downside is the lack of shops nearby. However this should be rectified in the coming year or two with a shopping centre to be built on the corner of Gardner and miles plating. Another downside also mentioned is the body Corp now approx $2k/yr. This is somewhat offset in the estates by the ARV's being so low due it being a percentage of the entire development(ours is 47k) so rates are considerably cheaper $300/qtr.

We got in at one of the earlier stages and built a medium spec house and have built around 150k equity in 3 years so not a terrible result for someone who had never thought about property investment. However I do see a ceiling on the median here based on proximity to the city.

I fully understand why it's on the nose for investors, but for us it suits our lifestyle and there is plenty of green space and amenities for the kids.

 

I don't mind Rochdale Estate, the food @ the cafe isn't too bad. Half a dozen trips through the displays to assist with colour selections etc & austral brick display is just down the road a real bonus.

 

If I'm spending a million and I'm not close to the city in SE Qld I better be close to a beach. These people are nuts.

 

It's close to the dump......

 

Very good question. There are lots of Chinese money going to there.

The game is that some rich people build big house over there to heat up the land price then lots of people will follow to settle down over there.

For Rochedale, there are lots of Chinese people settling down over there because that suburb is becoming the unicorn suburb in those people's mind. Lots of them even buy it oversea with cash. Its pretty crazy and silly.

 

Schools?

Rochedale South makes lots of sense.

Isn't Australia very close to Asia? Don't we now have second and third generations Aussies with Asian heritage?

People are from all over, that's Australia.

First nations ppl can grumble, but rest of us shouldn't label.

 

I just point out the possible reason. Now you talk about labelling

 

$8M for 5 acres - is that crazy?

 

check this https://www.realestate.com.au/sold/property-residential+land-qld-rochedale-203156410

 

Yes I did smell it once after a heavy down pour - the next week as it was steaming off.
I was visiting a Chinese friend who lives in those estate.

God damn never will I buy near a dump.

 

Now that’s crazy, verging on stupidity

 

I have friends who live in Rochedale. They're Chinese-Australian, and they love it - a 300m2 house (with a media room, 4 bedrooms, 3 bathrooms, butler's pantry etc) on a 450m2 block. No yard, walk to the shops. Paid about $750k 5 years ago, probably worth maybe $1.3M now.

Personally, I'd hate to live there... but it's horses for courses!