QLD Wynnum

Good yields though

 

Wynnum/Manly/Lota is looking good. There are something like 5 medium and a couple of high density projects underway at the moment. There are two large cranes in the sky (one thanks to new Woolies), heaps of construction around. With stuff like this coming (Sky Lounge Bar), surely its a good sign?

 

I was amazed when visiting recently how little Manly/Wynnum had changed - it looked the same as 10-15 years ago. The foreshore hasn't had any money spent that I could see. The outflows around Wynnum still looked yuck. The Manly shops were still in the 1990's timewarp. Sitting down to coffee made me feel 15 years younger .

So you may be right - it may just be ready to go bang.

Personally, I also went up to Redcliffe and was amazed at the vibrant shops, the money spent on the esplanade, and the general feeling of the place while sitting down to coffee. Couple that with the to-be-completed train and I think the bounce there may happen earlier than Manly. I was concerned that Manly may go well (as usual) in this cycle, but not boom.

 

Hedge your bets. To quote the taco girl:

 

Lol. I'm thinking of it - bought in Scarborough, and now looking for the next. Will either be 10-15km northside (Everton Pk, Keperra, Chermside), Wynnum east of the train, or just possibly Moorooka.

 

Nice!

 

We bought in Wynnum and manly in 2013 .

At that stage it was still below it previous peak .

Some movement . A unit similar to one of ours sold earlier this year for over 20% more than what we paid , which is more movement than what has been reported in the time . I don't think we got a bargain , and at the time we might have paid slightly more than we should have , but we made the mistake of falling in love with it , but part of our then reasoning for going ahead was that other people would do the same ....rationalisation .... I know

Cliff

 

Hey, well, I love my Birkdale place and decided I really wanted to secure it so I put a relatively strong offer in - I knew there were other people wanting to buy it. The area has gone up in the few months since and I'm happy. No regrets at all.

 

Based on a single visit with a little driving around - yes, not the best DD - and having been there years ago, I feel the place isn't on the cusp of jumping: it's still a relatively sleepy hollow with the marina (still) being the main drawcard.

Redcliffe, though, has an entirely different vibe and has changed: go to the weekend markets, or sit there on a Wed morning and see who comes into the cafes for coffee and breakfast. The council has spent money already (can't see much spent in Wynnum-Manly) and that helps lead at least part of the influx - people want to live there because it's nice and growing and things are happening.

I'd characterise is as being that W-M hasn't had the spend yet so those coming in are doing it for the same reasons as it always has been - either for "near the bay" lifestyle or "near the bay" investment.
In Redcliffe, the old reason of "near the bay" can now be joined with "AND family-friendly fun and cafe set". That extra "vibrant feel" gets the pulse going on OO's and pushes prices.

Now W-M has had the extra "train to city", but it's had that for years too, and it's builtin to the prices.
Redcliffe Peninsular is going to get that in the next year for the first time. Sure, it's a longer run in, which puts people off, but the train also goes to nearer centres that may (who knows) become satellite job growth centres.

Now Sandgate area is interesting too as a comparison : like W-M, it's had the train and bay for a long time, and the prices already reflect it. The train takes longer than W-M to the CBD, yet the Sandgate (or Mudgate as we used to call it when I live there ) prices have held very well - Manly has had 3.3% CG over 10 years, Sandgate 3.6%, Shornecliffe 5.1%, Brighton 4.5%.


So as for Wynnum, Manly and Sandgate, I don't see any reasons why they'll do any better soon than they've done recently. Presumably they'll do "about the same" as the rest of Brisbane. Redcliffe Pensinsular though has money being spent to increase amenity, there are solid developments in Scarborough and Woody Point at least, and in the next year the train comes for the first time. I wouldn't dare be crass enough to say it could be a gravy train for some .

 

FWIW, I've had a look at past sales on RE for Wynnum and year to date there's only been 9 reported house sales less than 400K. Last year there were 32 properties sold below 400K.

In terms of land, 3 blocks were listed as being sold less than 300K in 2014, none in 2015.

 

My offer got accepted on this property, i will be viewing it this sat:

http://www.realestate.com.au/property-house-qld-manly+west-120865893

thoughts ?

 

Looks ok to me...
Although those from interstate are banned from purchasing in brisbane. At this rate all the locals will be able to afford is a carport..yep not even a secure covered carparking spot.

 

haha I will be moving up to queensland in the next few years. I think a nice big verandah at the side and this would be a nice future PPOR for me...

 

I don't know too much about the area in terms of pricing/due diligence/etc.

My partner and I spent the weekend there. I've had quite a large number of purchase contracts (10+ last quarter) in the Redland area and thought i'd see first hand what all the fuss is about.

Its spectacular. That bay area where all the yachts are...thats just amazing. I was shocked at how sleepy it was, its got this amazing feel to it. Areas like that in Sydney (Brighton Le-Sands, etc) are bustling.

 

When all the rich Sydney property investors take an early retirement and move to Brisbane they will need somewhere to park their boats. Manly is the spot

 

Then they'll get hit by the rates charged by the marina - which aren't tax deductible - so they'll move up to Redcliffe where there's a beach .

 

Yeah...my neighbours on both sides own boats and they love to get out on the weekends to an island.... plenty of islands to have their own beaches to enjoy with no one else around. Love the life there. They have plenty of land to park their boats on too and there's plenty of locations to launch from...

 

Spot on Redom, Redland is a sleeping giant, the water, train, good schools, nice family feeling, all these count to a upswing in the foreseeable future. better to get in before it takes off. BTW Redland is Jan Somers backyard.

 

I can see that! The prestige properties seem remarkably cheap there too - i suspect that market has/will do quite well. That price tag can get you a run down 3 br in burwood. Or a McMansion in a quiet area with a yacht overlooking the bay in a capital.