Where to buy for up to 320 K?

Discussion in 'Where to Buy' started by Adventurer, 7th Mar, 2021.

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  1. Adventurer

    Adventurer Active Member

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    Running out of my borrowing capacity at the moment, but still would like to make one more purchace. At the moment can only afford something up to 320Ks. Where would you suggest to buy NSW and Qld only) for maximum CG over the next 3 years and why? The property has to be able to pay for itself, but obviously trying to avoid mining/one industry towns. I will really appreciate any suggestions!
     
  2. Momentum

    Momentum Well-Known Member

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    Have a look on the Gold Coast
     
  3. Adventurer

    Adventurer Active Member

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    Oh, grrr, forgot to mention: it has to be a house. I don't think there are any houses in the Gold Coast for under 320Ks
     
  4. Shogun

    Shogun Well-Known Member

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    So $320k and a house. No mining towns. Good capital gains expected but enough cash flow to pay for itself. Yeah good luck. Light strong or cheap. Pick any 2
     
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  5. boganfromlogan

    boganfromlogan Well-Known Member

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    Maybe Ipswich, and maybe Logan?
     
  6. Adventurer

    Adventurer Active Member

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    Somehow I don't believe there will be CG anytime soon in these areas?
     
  7. thunderstrike888

    thunderstrike888 Well-Known Member

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    You havent researched enough or done your due diligence. Where is the biggest population growth happening right now in the entire of Australia? :)

    For your budget there are only 2 councils I'd be looking at. Logan and Ipswich as mentioned above.
     
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  8. boganfromlogan

    boganfromlogan Well-Known Member

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    Is Inala an option? 320 might be a tad short.
     
  9. Adventurer

    Adventurer Active Member

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    Comment "yeh, good luck" is not very helpful. There are places like
    Toowomba
    Wagga Wagga
    Orange
    Albury
    Taree
    Lismore

    Some of these places have already had a decent CG and I am not sure if any growth still left there. Some others, not sure if there will be.
     
  10. Boss

    Boss Well-Known Member

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    You may still be able to pick up an older 3 bed/1bath house around Hervey Bay.

    Actually...just had a quick look...you'd need more like 350K
     
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  11. Adventurer

    Adventurer Active Member

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    Yes, thank you for your comment. These 2 areas also have also unlimited supply of land, so as i said I don't believe in growth over next 3 years.
     
  12. thunderstrike888

    thunderstrike888 Well-Known Member

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    You don't believe in growth or your just choosing to ignore the growth already happening right in front of your eyes is 2 very different things. LOL

    At the end of the day all that matters is your making money. If your set on those regionals then nothing we can say will convince you otherwise so just go buy there then.
     
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  13. boganfromlogan

    boganfromlogan Well-Known Member

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    Goombungee :) Buy an old church!
     
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  14. Adventurer

    Adventurer Active Member

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  15. Adventurer

    Adventurer Active Member

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    Yeh, thank you. Yes, I am considering Hervey Bay. Why do you think it will grow, what is the reasoning?
     
  16. Boss

    Boss Well-Known Member

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    Supply and demand baby...supply and demand:

    SQM Research - Property - Total Property Listings - 4655

    And with the big blue thing on one side of Hervey Bay...any new land releases will be further away from the beaches and amenities...and the best land was developed years ago too...like most places along the East Coast.
     
  17. wilso8948

    wilso8948 Well-Known Member

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    Mackay, Townsville, Rockhampton, Cairns. Watch for flood and expect higher insurances. Rents are coming back big time and Investors will only avoid for so long.
     
  18. Adventurer

    Adventurer Active Member

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    I have nothing against these areas at all. Not sure what growth you are talking about. For example last November I was looking at some properies in Kwinana (WA) and back then they were on avarage 285Ks. The same type of properies now are selling for over 320Ks. This is the growth. But property prices in Logan and Ipswich are the same for now
     
  19. Adventurer

    Adventurer Active Member

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    I don't know anything about this area, but will have a look. Thank you for the suggestion!
     
  20. thunderstrike888

    thunderstrike888 Well-Known Member

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    Ummm no. I dont think so. You do know Logan has 70 suburbs right and you do know that purely going by RP data updated 4th of Feb doesnt show updated prices to reflect the current market right? LOL

    This house should have been under $300k last year. Watch it sell for above asking.
    https://www.realestate.com.au/property-house-qld-crestmead-135649150

    This 4 bedder would have been circa $370k max. It will sell for asking or above.
    https://www.realestate.com.au/property-house-qld-crestmead-135523762

    This is just examples of 1 suburb in Logan - you have 69 more suburbs to analyse. If you look at Rochedale South, Daisy Hill, Tanah Merah etc....well lets not start there. Some prices are gone insane.

    Anyway thats enough from me. Goodluck in your purchase.
     
    Last edited: 7th Mar, 2021

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