Hi all,
Seeking people's help/thoughts on my situation.
I am based in Sydney and traveling to SE Qld in January to get a feel for some areas and look at some property. Basically I have around 300-350k to spend and I am looking for a 3/4 bed house with yard, solid brick + potential cosmetic reno in the future. The strategy would be a longer term hold of 5-10 years and see what happens over that time.
What are people's opinions on the northern corridor around Petrie/Kallangur? Inside of this (towards cbd) becomes above the price bracket or timber dwellings, outside of this finds quite a lot of land being released. Obviously the new train line is a pos + some large business's opening in north lakes demonstrates confidence for future growth in that region.
Any thoughts appreciated + further info regarding these areas from people familiar with living in the area,
Thank you
is that 300-350k purchase price or 300-350k to spend including reno costs etc? in terms of properties 300k median and under in brisbane are ( based off back of property mag data)
Acicia Ridge
Ellen Grove
Inala
Darra ( 305)
lots more in ipswich and logan. Can't help you northside but am familiar with other areas if you have any other questions.
300-350k purchase price.
Do you think Logan has heated up a bit already?
Ipswich doesn't really interest me at this stage, I can't see enough happening out there + lots of land.
From memory Acacia ridge also had a lot of older timber houses around 300k,
Have I read that Darra and Inala may not be the nicest place for working class families?
What about Ellen Grove? May look into that one further.
Thanks
Cmoore
Welcome to the forum.
I hate to say with that search criteria i can't see you finding anything that you would really want to own and honestly believe you are going to get good capital growth.
Personally i prefer inner Brisbane suburbs and have all of my properties there.
In saying that you are not going to find a free standing home without going 10Km + north for under 350K.
Personally i wouldn't touch Petrie / Kallangur and think Logan is definitely overheating
We are seeing signs of this in may of the valuations we get back for forum clients.
We wouldn't put any of buyers agent clients into properties in either of these suburbs if they were looking for longer term capital growth as i think you could do a lot better.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Sorry munmun i have to say I certainly wouldn't recommend a client buy in any of the 4 suburbs you have listed.
Just goes to show how little research the authors of such property magazines do.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hey Richard,
That was just stolen out of the back of those property mags with median house price , 3 month growth etc . I myself wouldn't be rushing into those suburbs either for growth . Cmoore holding for 5-10 years is very vague. Would a set growth % return be better. Having sound exit strategies and making sure your money is working the hardest it can for you I think will benefit you better in the long run. I would much rather have brought and sold 5 targeted properties over 10 years then buying/holding and not getting the best returns you could. Just some food for thought.
Qlds007, thanks very much for your comments.
Can you please give me some details about why you think Petrie/Kallangur would not be a good investment as I am obviously overlooking something.
Also, are there any areas in/around Brisbane that you think would be a good investment at this price point or do you believe I should be looking elsewhere?
Upon reading other posts, it seems that Logan is on the upswing but there is some doubt as to it being 'too hot'. Are there some areas/price points in the area where value can still be found?
Thanks
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