Hi guys,
just wondering if anyone had any advice on investments in the south brisbane and west end areashi chris,
Firstly a good choice, definitly a solid blue chip area, close to a capital city CBD and set for continued solid growth short or long term and excellent rental demand. You probably are aware of the West End /Woolloongabba council plan (google it) which earmarks this area for major development and gentrification and government spending on infra structure etc in an area that already contains a community lifestyle with plenty of original character houses ripe for renos all surrounded by the river. There is also a seperate Development plan for Woolloongabba central (google that 2, most of the industrial area south of the gabba will be transformed into a new retail hospitallity and commercial hub) and of course the Hail street bridge is coming (google) etc etc. Working in Architecture I can tell you that there is alot of urban planning projects in the pipeline etc etc, Factor in traffic reduction due to the North South bypass Tunnel currently under construction and the fact that this area is in my view undervalued compared suburbs the same distance from the city such as say NewFarm for example where gentrication is more advanced and hinting at what lies ahead for south brisbane area. I think of Westend, Woolloongabba like Balmain/Rozelle in sydney 10-15yrs ago before it became posh and out of reach of most. Theres a similar demograhical shift happening from rundown to uptown and these are the solid growth areas to buy into (close to capital city centres) and its only really just beginning here. I cant think of many places in the major capitals Bris Mel Syd, perth, where you can still find a 2/3 bed freestanding house under 600K on 400m2 of land or more, less than 2kms from the city. How could you go wrong. Rents are also very tight and climbing rapidly and id expect it to continue at least in the short term.
If I was looking for better yeild and good growth my pick would be Woolloongabba becuase w,gabba will still ride off the back of the Westend development , cap growth will be the same possibly more becuase your coming of a lower base. THe gabbas a good 100K less to buy in yet just down the road with similar rents, just lesser known from an investors point of view. it also has the benifit of the busway, park rd train station to the south, closer to major hospitals and freeway access and the as i said the changes around gabba central will be 10 fold in the coming yrs as it transforms from an ugly duckling.
HOpe this helps
Hi Chris,
West End is the area that I specialise in, although almost entirely in the Unit/Townhouse side of investment and I agree almost entirely with the comments and observations given by Event Horizon. Although there are still some good buys in this area, I feel that we have perhaps toped out at present and, as mentioned above, areas like Woolloongabba are set to offer better short term growth as they are starting from a lower price point and there is very little supply to date.Would be happy to discuss further if you wish. No obligation.
Jon
Thank you for some comprehensive information guys, in terms of the massive redevelopment planned for the area and the inflated prices of off the plan sales in complxes such as Flow Waters Edge etc how would contruction noise and the uncertainty of whether or not apartments will be built out, effect capital growth on these newer developments. The time is definitely right to buy, but im worried of resales in a potential concrete jungle
Chris,
Long term (10 years or more) I don't have a problem in suggesting that there will be profit to be made in this area (Left Bank as we call it). However I believe that there are better prospects for investment than in these developments. Ariva is about to settle and thereare already people trying to resell prior to having to settle. If you can buy a good two bedroom for around $480K,I think this would represent good value. For an example check out my web site and look up 8/6 Edmondstone Street at $480K.. as rents in this building are now in the $450 a week line and rising, this is about as good as it gets.Jon
hello fellows,
Cant find any p to date information on this topic, so thought Id dig this thread up!
I am also looking into this idea. I was wanting to get a duplex or small unitblock in West End, Hillgate Hill or Sth Bris for BSHS catchment reasons. Is there any capital value left here? And what are yields like at the moment?
I would buy an hold about 10 years.
Even better if someone can give me leads on properties. Doer-uppers are in mind too.Thanks in advance.
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