We live in Melb and thinking of buying an investment in Brisbane for around 200k, perferably the nth side. As we are first time investors, we would like to know an area which is a good choice to buy in?
Quote:We live in Melb and thinking of buying an investment in Brisbane for around 200k, perferably the nth side. As we are first time investors, we would like to know an area which is a good choice to buy in?
[/quomaybe I can be of some help if you need to know about some suburbs
zuki124I’ve been thinking about Brisbane too. I read someone on this forum mention Beenleigh. Is that a growth area or is there another suburb that may be interesting to look at? I would be looking for something around 200k aswell or maybe even a unit. Any suggestions?
Thanks Jo
I’ve been thinking about Brisbane too. I read someone on this forum mention Beenleigh. Is that a growth area or is there another suburb that may be interesting to look at? I would be looking for something around 200k aswell or maybe even a unit. Any suggestions?I brought 3 units 12 months ago and they were returning 10% on my investment they have since doubled in value at present. I am a bit worried as all the sydney and melbourne people are linning up to purchase units within the 6klms of the cbd. A suburb called new farm the place to be! has been going up day by day can this sustain the rise. eg. a 2 bed unit 12 months ago were around $150-160,000 and recently they are getting around the $240-260,000. I know brisbane never grew for 10yrs but now all of a sudden its gone mad people are queing up and most sold properties have back up contracts just in case the contract falls over. Brisbane is a lovely city and still has growth but not at this rate its too fast!
I am no expert but you must always be the sheperd not the sheep and they are buying in droves.
Just be careful and stay within 6klms. and make sure the place has something going for it eg. views.yes l know new farm and l have heard the prices are going up there. I was thinking of buying in albany creek out nth as l was planning to move there in the future but its all a bit of a brain overload. I just dont want to buy an investment and find l cant rent it out and get stuck with the payments.
hi tis-julie
I’m from melbourne myself and i have been up to brissy several times and seen it move like wild fire in prices in the past 12 mnths the thing is i have noticed is that brissy people don’t like to travel like us in melb. For an investment I would sugest you buy with the golden rule in mind and that is to stay within the 6 t0 10 klms radiaus of the cbd but if you are going to move up there albany creek is ok I suppose if you look at the long term. Remember it is always the outer suburbs that fall first when the property market falls.beenleigh has pretty much doubled in last 12 months.
still cheap in eagleby, edens landing, logan, loganholme, tanah merah & round there
Hi,
I live in Albany creek and bought an investment property 13 month ago for $160,000 and had valuation done last friday at $250,000. Albany creek is approx 12 klms from city so i cant see it being an outer suburb compared to sydney or melbourne so i suggest to get in quick before they reach $500,000(I wish) but then again i could be wrong.[
]Quote:We live in Melb and thinking of buying an investment in Brisbane for around 200k, perferably the nth side. As we are first time investors, we would like to know an area which is a good choice to buy in?
[
hi , i’m off the track , but wondered what you thought about our 1st investment home we’ve/had for12mths now , its been in negative rent since we bought it, do we sell , or buy another to maybee cover all costs.quote]Tis Julie,
I currently live in Albany Creek (the old section) and am renovationg my PPOR. Current rents in the area start at $205/wk for a 3 bdr highset. [
]A lot of the older properties are now selling for over $220k mark and the newer areas are in the $400k+.[
]If you are looking for a positivly geared IP, you won’t find one here. But if you want to buy with the view to moving in, it’s a great place to live. Nice and close to everything.
Hope this has helped. [8D]
Cheers …………. Rae
I went to Logan City in March’03 and bought townhouse and unit theire. The price is going crazy right now. A friend of mine just come back yesterday, he said there are not much property available.
I went to Beenleigh in June’03 and bought townhouse their. The price is going crazy as well. When one of my purchase contract fall over due to retaining wall problem. The agent put up another $10k and sold in 1 week.
Hi all,
I’m Law and just bought McKnight’s latest book. Exciting!
Anyway, I’m keen on buying a investment property on the bayside of Brisbane…Manly, Wellington, Lota etc. I reckon they will be like Sydney’s Manly, Eastern Suburbs in the next few years.
Any tips so far?
I’ve been to The Investors Club but still apprehensive about it.
Thanks for all the great tips. Now if we only had a crystal ball. But atleast we’ll have somewhere to start looking. Are the rental vacancies keeping up with the prices in Logan city and Beenleigh?
cheers
JoanneHi,
Bought a two bedroom unit in Southport(Gold Coast) two months ago for $192.5K. There are another two for sale now in the same block for $235K.
Milo
Hi all. I too, like Lawry, agree that the bayside part of Brisbane will continue to have good strong growth. I’ve liked Redland Bay for a while now (also hope to move there later on) and was reading the other day that another shopping complex costing approx $50 million is going ahead at Victoria Point (same postcode as Redland Bay) which will bring more revenue, employment etc to the area. Not bad considering a massive shopping complex with cinemas etc went up at Vic Pt only within the last 2 yrs.
Cheers
Marty
Hi Maximus and all,
Looks like I need to seriously look at properties in the redland bay area.
Any other areas that look favourable? Have you tried using the 11 seconds solutions by McKnight to filter properties?
Hi Lawry. No I haven’t used any solution when buying, except, does it suit my investment requirement but mainly, can I afford it, i.e do the numbers add up. Fairly sure that you will not get positive cashflow in bayside areas (I could be wrong there though), but as mentioned, capital growth has been outstanding there (in Redland Bay) and by all accounts, should continue to do so. As a quick example; I purchased one property there in Sept 2001 for $188000 and another for $198000 in Nov 2001 and both properties would sell for around the $300000 mark now. I’m a big fan of the area, but as always, do your research.
Cheers
Marty
Hi everyone I am a Finance Manager in a Real Estate office in the Redland Shire (Where Redland bay is located). The rents in the area are for the most part only around 5-7% gross return and declining.
There is a strong surplus of rental properties. We are the largest real estate office in the shire and we can’t rent all the properties we have.
Prices have moved by a staggering 30% in the last three months. I am now having a lot of clients having difficulty being able to afford to purchase and some of these people have quite good incomes and equity in their current homes.
I would not suggest this area for positive cashflow properties yes for negative and capital growth.
The areas around Ipswich, Inala, Acacia Ridge and Archerfield are close to the city good rent returns and still can find positive cash flow properties there. (just be careful even these areas are rocketing).
Hope this helps!
Tis_Julie and other investors wanting to buy in Brisbane.
I have had personal experience with a company specialising in property investing and found them to be of the utmost integrity and knowledge and their research is indepth and thorough.They search out high capital growth areas with good rental prospects.Their figures favour positively geared investment or close to it.
They know precisely where the pre boom areas are and have consumated some very attractive investment packages.
I highly recommend them and if you would like to know more,please email me on [email protected]Hi there Davo,
I was just reading your comments in the forum and you mentioned some of the areas such as Ipswich, Inala, Acacia Ridge & Archerfield.
I am interested in buying property in Brisbane but thanks to your comments I was tossing between buying a property in the the Redland Bay area for $500,000 or say buy 4 or 5 properties in cheaper places like Redbank, Goodna, Ipswich, Sunnybank or Ipswhich area…… I would love to hear your opinion!!!
Thanks – Raylee[
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