QLD Wynnum

To reply @Tekoz
So does that mean you arent restricted to new builds? That's what I was wanting to know.

Why not buy nearly new and let the first owner deal with all the OTP hassles? You still get good depreciation even if its not brand new. And any issues due to the build should be known after a couple of years.
Anyway.... if we are talking Brissie my preference is a house.... they can build too many apartments too easily, which limits the demand (too many apartments... future owners and tenants can afford to be choosy... assuming most units are not too dissimilar it the becomes a race to the bottom on price if someone is desperate to lease or sell)

 

Thanks @Gockie that does make sense. with existing near new house or any house younger than 10 yrs should be better.

 

I note Redom and Shahin commented some of their clients are buying in the area.
I know we'll not get an exact figure that can be proven or validated, but it will good to know is it really Sydney investors driving up this space in the last 12-18 months, similar to Logan?
I know at least the buyer here in this post are mostly Sydney buyers...

 

Take this tip PLEASE!!!

 

One of my friend who has just got his apartment valuated in Arncliffe has bought new H&L package in Wynnum, aparently they are good investment choice according to him.

It's good to know that the equity of new Arncliffe apartment can buy a house in Wynnum area.

 

Maybe we are.... we certainly like the place since any reasonably located property with ocean views in Sydney would be close to a mill for a 2 bedroom unit or well over 2 mill for a house ...
Brisbane is still cheap as chips in comparison. The house I bought in Birkdale with bay views was about 1/3rd the price of my Sydney middle ring house... and that's nowhere near water...

 

Buying new in Wynnum is definitely not a better option, it's good for knock down and rebuild though. You can see some of the better/newer build selling for 700k+ on a very small lot of land. If you can get a duplex build or a splitter, there is money to be made
The is a builder there doing dual income builds there. Good concept but I am hearing a local agent saying BCC is looking into them..

 

Yes.... I went old house (1950's/1960's), big land (810sqm) for Birkdale... I don't care too much about the actual house at this stage, its definitely rentable. I just wanted the location...sort of landbanking for future build/s.

 

You may find places in Sydney with drop dead views haven't gone up as much % wise as houses in Mt Druitt ....

I'm not expecting my manly Wynnum prices to go up to Sydney levels . That's unrealistic , however % wise I'm not so sure .

There has been a recent sale of an identical unit to the one we bought with an increase of 25 % on what we paid in late 2013 so I'm not complaining.

I'm not disputing that the majority of Brisbanites think the way you describe , but there is a minority who do value the proximity to the water and are prepared to pay a premium for it . My understanding is the marina at manly is the largest is Australia .

" Nice bayside suburbs " in Brisbane make up a much smaller percentage of the market place compared to nice waterside suburbs in Sydney , where you have all of the northern beach , shire , eastern suburbs , Botany Bay , St Georges river , Sydney harbour , middle harbour and Pittwater with waterfront suburbs so you don't need the majority of the buyers looking for bayside properties in Brisbane to drive that segment of the market up , just as not everyone wants to live in trendy units in Teneriffe , or ex house properties in Logan , but they can all perform well as investment properties

anecdotally , when we bought our manly Wynnum properties , I met two people at work from Brisbane , one from manly and one from Sandgate . Both really like those suburbs , had many relatives still living there and wanted to move back someday . Several of the agents we talked too mentioned the area was people moving from Sydney ... ( maybe some cashed up southerners will buy the whole place up ..... )

I'm in no way suggesting that everyone is going to suddenly want to move there .

I'm just pointing why it is an area that is attractive to a significant minority .

Cliff

 

Btw

In the previous cycle I was told that Redcliffe was deadcliff and wasn't worth looking at . When we finally got up there , I thought it was quite nice ...

Later on , I found out that poster had been buying there and didn't want competition ...

Cliff

 

Yeah fair enuff. However, regarding your very first point, I'll guarantee you that won't be the case in 6mo time. but there is a separate thread for that...

 

Hahaha. I guess the question is, do you trust the opinions of the individual...

 

But as I'm referring to what has happened , that's irrelevant .

Cliff

 

Ok, but I don't quite think the same will as easily happen in brisbane. The struggle streets in brisbane won't do like their Sydney counterparts. The reason is that there is much more choice at more affordable prices than in Sydney. Brisbane residents don't need to go there to afford a roof over your head even on an average wage...whereas in Sydney - Yes...but like I said...there is another hotly debated thread for that

 

I don't know it changes from year too year,the property next to the Accountants office was an old QLD last year this year there are six walk ups units in the site,.

 

Yes, but surely it will go up due to the land scarcity.

 

Still a lot of dual title blocks in that area with an old house sitting in the middle on the deed,and the price you would have to pay..

 

Are we talking about prices going up ?

Last cycle Brisbane went up quicker than Sydney . It doubled in a year .

Less than two years ago , when longer term members including myself said Mt Druitt will get into the high 400's , people who hadn't experienced a property boom were somewhat in disbelief . Ask Ms Ali and Mona Lisa .

We'll see what happens .

Cliff

 

It'll go up alrite...just that:
1. It wont be as sustainable, very much at mercy of factors such as IR and investor sentiments
2. It wont go up as much as the more better areas for the above reasons plus what both @sash and @seanbrissy have already mentioned.

It will mostly go up due to all boats rising with the tide anf also because of cheap buy in prices resulting in pump n dump opportunities.

 

Will there be an oversupply in the Manly/Wynnum area?

Was at the property expo at Olympic Park a few weeks ago. They held 3 live auctions for Manly/Wynnum apartments. All 3 were passed in. Interesting to note that the auctioneer got a Chinese-speaking lady to repeat everything he said in Chinese. Perhaps there's a lot of foreign investor money going into the area. Same lady tried to convince me Wynnum prices had shot up 23% in the last month