Where would you buy in a budget of $450k

So buy shares in lithium companies? Not sure that will equate to an iron ore boom

 

I think there are still some good areas on the South Coast NSW.
Some places have previously gone a bit crazy, and have topped off a bit.

 

Houses less than 30 mins drive or 30klm from Brisbane CBD for low 2's (currently some selling for close to land value) in Brisbane... That will have to look cheap long term? Good yields too.

 

You've got me interested, PM sent.

Willy

 

If it was me - I would look at the likes of Strathpine (but it's in QLD/Moreton Bay so it's probably your least favourite) or Perth (can negotiate hard and source a cracking deal given where we are right now in Perth market).

Cheers,
David

 

Victoria seems to be the safest state with the strongest economy and population growth to support property prices. The Mornington Peninsula suburbs such as Mornington and Safety Beach still offer good value and are affordable for this price range. The prices here are due to change with the significant infrastructure investment such as the new Mordialloc Freeway and extension of the Frankston line making the area more accessible and desirable. Generally the south-east and inner south of Melbourne are performing the best. Maybe it is the growing appeal of sea changers by the bay. Another popular area in the south is Phillip Island which has seen significantly higher growth than usual in 2018 and is continuing to perform strong.

Otherwise regional victorian markets with strong infrastructure spending such as Wodonga, Wangaratta and Shepparton are good choices. This is due to the Melbourne to Brisbane Inland Rail, North-East Victoria rail upgrade and the Melbourne to Shepparton/Wodonga high speed rail projects. These areas are severely undervalued and are set to see significant growth in their property prices and local economies in the future with multiple projects expected.

 

Just be aware that 30km from CBD means everything south to Beenleigh, West to Ipswich and north to Redcliffe. There is a LOT of land yet to be developed in that radius. Nothing wrong with chasing cheapies just understand what you are doing before pulling the trigger.

 

could have said the same thing about Perth in 2012.. percentage-wise, it was beating what Victoria is doing now. Keep in mind that the growth we have been seeing is the exact reason prices are as high as they are. Growth above average does not last for-ever, especially when its based on Chinese investment that has pulled back 40%+ and a government infrastructure spending splurge that is racking up a deficit. With the pipeline of construction work still yet to fall from its peak (expect 30%+ fall based on current new building applications), there is a long way to go yet here.

PS. another vote for Perth

 

Construction in the CBD and inner ring is coming off the peak which is set to reduce supply in the future. Foreign investment is transitioning from predominately commercial and housing to infrastructure. Technically there is still gain to be made from the investment if you target the right areas. This is why I suggest undervalued rural Victorian cities and the Mornington Peninsula which are due to benefit from key infrastructure spending. The places I have suggested also haven't been heavily influenced by Chinese investment in comparison to the north-east of the city in areas like Box Hill and Doncaster. Perth definitely has potential too with enough investment.

 

$450k puts you say 25-30km from Brisbane CBD.

For $450k how far from Perth CBD would you be?

Thks

Willy

 

Should be able to get inside 10-12kms for that in Perth I would think

 

I think you still see houses advertised within 15kms from Brisbane CBD for $450k - but they don't have the same underquoting laws as NSW.

 

Even 20klm from Brisbane CBD on the Southside 450k will buy you decent house on 600m2+ and in the right location can be only 20 mins drive to the city. Rochedale South and Springwood are great options with the upgrade that has commenced on the M1 Motorway and the improvements to the Busway into Springwood.