Forums / Property Investing / Help Needed! / Park Ridge QLD, 4125

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  • Profile photo of SiteManagerSiteManager
    Participant
    @sitemanager
    Join Date: 2015
    Post Count: 56

    Hi All,

    I’d like to know what’s your thoughts and comments about the Park Ridge QLD, 4125
    Suburb profile: http://s000.tinyupload.com/index.php?file_id=02614947828995694945​

    http://www.whichinvestmentproperty.com.au/best-suburbs/fastest-growing-suburbs –> As at today, look at number 9 in QLD top 10 suburbs.

    Because in Sydney, most of the Real Estate agent who markets the affordable H&L package promotes Park Ridge all the way up everyday, I guess it’s because of the future potential just like Schofields here in Sydney who went into number #1 top fastest growth suburb +43% this year.

    According to my friend who bought it last few weeks ago, it was a profitable deal that is once in a lifetime due to:

    1. For approximately $301k you get H&L package, considering the second stage is $400k, so it is surely a capital gain increase.
    2. Land size is 313 sqM (doesn’t matter as long as it has a land component, then it is always appreciates over times).
    LOT 58 Mount Barney Cres, Park Ridge QLD 4125
    3. Many big store names has been planned to open in Park Ridge.
    4. NSW investors are looking to buy in Brisbane, but the OTP apartment is already over supplied in Brisbane CBD.
    What are your thoughts and comments as a local Brisbane investor ?

    Is it a good place for buy and hold 5-7 years or should be somewhere else like Ipswich instead ?

    • This topic was modified 3 years, 10 months ago by Profile photo of SiteManager SiteManager.
    • This topic was modified 3 years, 10 months ago by Profile photo of SiteManager SiteManager.
    • This topic was modified 3 years, 10 months ago by Profile photo of SiteManager SiteManager.

    SiteManager

    Investing for a better future

    Profile photo of westnbluewestnblue
    Participant
    @westnblue
    Join Date: 2013
    Post Count: 35

    I bought 4 units there end of 2013. Even though the values have only increased by ~$30,000 each, the rents on each have increased by $55 p/w each.

    Regarding growth corridor. It is a smaller one than Gold coast to Brisbane corridor but still has a ton of future potential.

    Profile photo of SiteManagerSiteManager
    Participant
    @sitemanager
    Join Date: 2015
    Post Count: 56

    Cool, so it is a good place to invest :-)

    @westnblue, do you bought new House & Land package or the existing property ?

    SiteManager

    Investing for a better future

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,325

    Hi SM,
    Let me reply to some of your posted comments :-

    Because in Sydney, most of the Real Estate agent who markets the affordable H&L package promotes Park Ridge all the way up everyday,

    If they are offering free flights too, RUN A MILE !! This kind of “greenfield estate” at Park Ridge is also the kind of development targetted by marketeers who promise you the world as long as you sign (and they will likely also have solicitors, finance, etc all at the ready for you too). Be very careful of that kind.

    If these are ordinary RE agents who are not pressuring you to “sign”, they are likely OK.

    According to my friend who bought it last few weeks ago, it was a profitable deal that is once in a lifetime due to:

    Hardly “once in a lifetime” for mine – this area is basically rural land that is being developed to build Brisbane’s next “super city”. Yes, there will be lots of houses for sale – land is freely available (except for Govt manipulation). The block sizes and house sizes (2bd on 313m2 of land) don’t seem to be a steal at a $300k price tag to me. But about right for these times perhaps.

    1. For approximately $301k you get H&L package, considering the second stage is $400k, so it is surely a capital gain increase.

    When is next stage commencing? Two years, three? Five? The idea sounds good – but if too many developers build too many new homes on too many tiny blocks in Park Ridge, prices are not likely to be looking at $400k any time soon.

    2. Land size is 313 sqM (doesn’t matter as long as it has a land component, then it is always appreciates over times).

    True – it is likely better than an apartment. And this size might well be the “quarter acre of 2020”. But, while one can still buy second-hand 3bd, on 700m2, with the potential of adding equity via reno for less than $300k (and in a nearby suburb), my money won’t be buying new in Park Ridge any time soon.

    Have the promoters mentioned a likely rental rate at all? You would probably want $400/wk minimum, and again, I am not seeing that for a 2Bd place in that area, even though new.

    Benny

    Profile photo of SteveSteve
    Participant
    @steve70
    Join Date: 2015
    Post Count: 10

    Hello SM,

    Just a point on “fastest growing suburbs”, I see on the link that it identifies Park Ridge having 30% growth in the last quarter, once again the devil is in the detail.

    Reviewing the suburb data in your link and going to Park Ridge detail:
    http://www.whichinvestmentproperty.com.au/best-suburbs/qld/4125/park-ridge

    The detail does not support the 30% growth when looking at median sales and growth, I believe part of this is that there are a few sales in the area which seem to be sales to developers for very large blocks (5000m2 to 19000m2), these sales push the growth rate up but aren’t necessarily reflective of what is actually happening in that area.

    Growth rates can be an indicator but then you need to look at the next level down and answer the question “why”.

    My final point is always be a litle cautious in comparing suburbs in different markets, in particular Syd to Bris. Buyer expectations in the two areas are totally different from my experience.

    Steve

    Steve
    Email Me

    The devil is in the detail, always ask why?

    Profile photo of SiteManagerSiteManager
    Participant
    @sitemanager
    Join Date: 2015
    Post Count: 56

    Hm, now I know bit more after @benny and @steve explains it to me in plain english :-)

    You guys are right and truly make sense. I was under the influence that whenever new big business is opening like Costco, Woolworths, etc..
    http://www.thereporter.com.au/news/costco-costco-costco/2563492/ –> shows that the area is brewing with some good potential

    Hence I will change my focus to Ipswich area for Cashflow investing.

    SiteManager

    Investing for a better future

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 11,992

    Sitemanager rather than look at Ipswich look at the Brisbane – Ipswich corridor.

    We are finding some excellent properties for clients in these areas with some excellent drivers.

    Cheers

    Yours in Finance
    0-40 Properties in a decade. Ask me how.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of SiteManagerSiteManager
    Participant
    @sitemanager
    Join Date: 2015
    Post Count: 56

    Sitemanager rather than look at Ipswich look at the Brisbane – Ipswich corridor.
    We are finding some excellent properties for clients in these areas with some excellent drivers.
    Cheers
    Yours in Finance0-40 Properties in a decade. Ask me how.

    @qlds007 Cool, I’ll look for the suburbs around that corridor with easy access to Brissy CBD. My focus is on South East QLD area especially when they are hot in the news: http://www.domain.com.au/news/chinese-spend-more-on-queensland-property-than-other-foreign-buyers-20151021-gkeutc/

    Thanks Rich for the suggestion / tip.

    SiteManager

    Investing for a better future

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