Where would you invest $250K - $350K?

Hi all,

I was wondering if anyone here has any pointers for a novice investor looking to buy an investment property between the $250K - $350K mark? I have looked at areas like Ipswich, Silkstone and East Ipswich but my research has made me skeptical about house the capital growth dropping in those areas.

Would appreciate any advice.

 

In addition to my message above, is it too late to invest in Christie's Beach?

 

I would look at cairns or townsville before ipswich
Bang for buck is awesome, Land is more scarce and your buying in an area people want to live.
Dont know many that love ipswich
Its not the worst place but it has nothing on qlds regional centres
Way too far from brisbane imo to see any good gains medium term

Think werribee in melbourne or penrith in syd
Youll be waiting forever

 

Thanks for the advice Strongy1986. My dad invested in Weribee about 5 years ago. Maybe i should have listened to him

 

And how was werribee going when Melbournes population was 2 million?

Compare apples with apples

It will be decades before ipswich booms due to people in brisbane having no other options

 

Saw a place currently for sale there for $249K. For 350K though, you could be less than 10km from the Adelaide CBD

 

Article on Werribee

The Melbourne suburb that Sydneysiders are snapping up

 

My money is on Melb for 2017, it will be the star performer, ticks all the boxes at the moment.... go you beautiful thing:

 

Can't get into many Australian capital cities for that amount of money.

Hobart is probably an option. Adelaide under 350k is pretty easy.

 

I think u maybe right St. Albans house 1.81 mil. When it was like 450k last year though reZoned Heidelberg west 808k when stuff like these was 550k last year

 

@melbournian posted this

The Melbourne suburb that Sydneysiders are snapping up

Hey strongy....are how many cycles have you seen? Werribee i s just starting to take off.....St Albans/Scumshine is gooone.......Werribee/Hoppers Xing is next....

 

Yes werribee will go up but everyones needs and capabilities on here are different. If i had a big bank balance and unlimited buying capacity then yeah i would buy 5 houses there now and sell in 12 months.

However, if like most on here you can only afford to buy one property in the next year for a long term buy and hold portfolio then i dont think its the best option as a significant part of the boom has already been missed.

There were houses for 250k there only a year and a bit ago. Now most seem to be closer to 400k. Well done if you made money but running around telling others to get in before its gone sounds like a ramp

 

@mercthunder What are your thoughts on the few Ipswich threads that discuss areas that you have mentioned? What are your main concerns backing up the worry you have regarding CG? What has your research indicated? You've mentioned those suburbs but no rationale besides price point worry about CG.

With your budget and some good on the ground networking, even online looking, you could find a decent deal in those areas at the moment that ticks the boxes. Like quite a few others on here, I have a positive outlook for those established inner ipswich suburbs for a number of reasons.

@strongy1986 Although I don't closely monitor Cairns or Townsville, I disagree about a simple comparison to Ipswich for investing. Ipswich is a growing hub with strong population growth rates. There are new jobs and industries coming in. It's prices are in recovery from the floods. Redevelopment, rejuvenation, and gentrification. Cafes, restaurants, parks, arts and culture. The area is changing. The stigma is yesterday. When was the last time you went? Believe it or not, people do actually 'love' the area, so much so o/o's are choosing to relocate there for lifestyle and amenity!! Furthermore how is it "way too far". Its not an inner brisbane suburb but come on, 30-40km is palatable in the big picture and for many it is actually an entirely commutable trip to the 3rd largest capital city in Australia (look 30-40km north and south of Brisbane, do you have the same disdain for those suburbs?). It is a completely viable option for people that want a version of the city lifestyle with a beautiful Queenslander, but currently at a much cheaper price point - yet the city being so easily accessible! The suburbs that the OP wrote about actually are quite desirable now and the good deals are going before they even hit the market. I just wouldn't be so quick to brush it aside whilst ignoring the reality of what is going on the ground in the inner suburbs there. You'd actually be surprised.

 

Have you been there?

Did you pook at the demographic buying in? This going to keep going till about 500k....have a look at what has happened to other suburbs nearby......

Places like Logan will not perform like Werribee because the demographic there does not have money.

 

@strongy1986 being someone from Melbourne yourself - there are not many places left in Melbourne within the 30km radius for that 250-350K mark?
can't think of too many suburbs that cheap within distance wise to CBD

 

17 & 19 Forrestall Road Elizabeth Downs SA 5113 - House for Sale #124665942 - realestate.com.au

 

Its not that cheap!
If it was still 250k then yes i would agree that its a great time to buy.
Look at 3 bed houses sold prices this year. 90% are over 400k
Anything that was under is because the house is compromised.

So sash reckons it will keep going til about 500k. So after expenses on a 400k purchase you make a gain of say 70k
Thats all good and well but my theory is that after a market peaks the prices will taper off around 5-10% so really you might make 40-50k
Then you sit around and wait for 5 or 6 years for the next ship to come into port.

Meanwhile Sash has sold out at 500k and moved on to the next quiet spot before it go's bang.

Anyway people should think for themselves , avoid being a sheep

If the median price in werribee reaches 550 - 600k then ill admit im an idiot

 

Yes i have been there, not really sure why that matters though.

I still reckon the location of werribee is a major impediment for long term capital gains. Its literally surrounded by nothing

The other well performing suburbs are much more constrained geographically and yes i believe werribee may well go to 500k but if your buying in at todays price of 400k then i reckon 'the ship has sailed'

 

It will be a toss up between Melbourne and Brisbane.
Amongst proper cities - Melbourne
Amongst country towns - Brisbane

 

Depends how you look at it. 70k doesn't sound like much if we go by sash's example reaching 500k. Break that down into percentage and It's not bad.