ZILLMERE, QLD 2021

Actively bidding for properties in Zillmere and wanted some views on what you all thinking about the area

 

What's been your research @balotelli14 ?

 

My research has shown the following

1. Close to CBD (20- 25min)
2. Relatively affordable (especially when compared to its neighbour suburbs such as Chermside )
3. Own train line and close to Chermside Westfield
4.Has a high proportion of social housing (so street selection is important)
5. lots of LMR zoning, so potential supply issue in the future, but I don't believe it will impact standalone houses.
6. Vacancy rate of around 0.3 - 0.4% and high demand for rental after speaking to 4 PM.


Btw - Thanks for your recent 5-day workshop

 

Zillmere is split up by the train line. There is the Aspley or ‘good’ side which is mainly standalone houses on large blocks of land. Prices are silmilar to Aspley. There is the old housing commission side which contains more and more apartments most of them are rental.If you could find blocks are developable you could do well.

You’ll do well if you buy something with a lot of land content. Don’t buy an apartment in Zillmere.

 

I have been actively purchasing across Geebung and have found that alot of those buyers are now opting for Zillmere. One of the key factors and obvious factor is affordability. It is one of the remaining areas were you can purchase a property for under $500k. I believe with low stock levels and heavy demand this area will continue to see growth. It's a basic ripple affect. The problem is that it is almost 50% of stock is owned by investors.

 

Do you see that changing if it starts attracting lots of buyers, as you are suggesting? Some investors may opt to take their profits and go elsewhere , no?

 

Nope. No way. I would stay away from Zillmere and would rather look at Geebung, Virginia, Boondall and Bald Hills.

Apart from being mostly investor stock with fairly ordinary tenants, Zillmere has very high proportion of public housing. Some crime too.

 

You dont need to look always north. South especially centenary suburbs are very affordable and even Oxley (closer to sherwood/corinda) is on the train line where 600sqm land you can get for 550K easily. Pls DYOR

 

I see why people would be looking north. It’s greener, it’s less dense and it has much better transport in my opinion. The only suburbs south that can be compared to north are the inner city and Mt Gravatt.

Other than Zillmere and Keperra the north of BCC has solid OO suburbs with very little housing commission. So yeah North also has higher proportion of more expensive suburbs (just a guess) and for a reason.

 

I have only purchased one property in Zillmere for a client. It was a Purchase at $500k with a rent return of $480 per week and it was on a LMR site (you can split the block into two).
What I am trying to say the only reason I would buy in Zillmere would be if you found a cracker of a site that has a good yield and development potential. Other than that I avoid the suburb.

 

I don’t know Zillmere as a suburb.

But just to say - one man’s trash is another’s man treasure.
It’s their future profit and money on the line.
If your numbers stacks up, you make that decision and run with it.