Hi All,
I am from Sydney and currently looking for positively geared properties in the Brisbane region. While I understand the properties most likely will not be positive cashflow until interest rates are hopefully slashed next year, I have been scouring the web for Brisbane suburbs with rental yields ranging 6-7%.
Would love to know if anyone has suggestions on potential suburbs I could research. I am seeking essentially a unit thats at least 40 minutes from Brisbane CBD with a minimum 6% yield and price within $350k. Hoping to pick up three properties in the next few months. So far I have come across such suburbs that meet my criterion – Woodridge, Slacks Creek, Beenleigh.
Thanks everyone! :)
Hi BJ,
I’m from the South side of Brisbane (Logan actually) so I would say don’t go 40 mins or you’ll be into greenfield estates (i.e. all new and expensive – e.g. Yarrabilba, Coomera). I think your choices mentioned are nearer 25 – 30 mins and are older burbs with a lot of possibilities for renos and/or positive gearing. Other similar options then would be in that same ring (25Km?) and could include options up North too (with which I am unfamiliar). West is Ipswich and surrounds, and these tend to be also “playing catchup” with their prices. However it is likely to be these burbs where folks are becoming stretched by the Interest Rates and may well need to sell. Your offer might be the option that allows them to exit and start again elsewhere.
Maybe view Brisbane from above (google earth) and look for suburbs where there is still a bit of a backyard. Another clue is to look for roofs that are the orange/ochre of older tiles thus indicating older homes. Most homes built in the last 7 years are all the grey tiles or grey or white colourbond. Most new stuff also has houses jammed together, so this will indicate new estates. Go for the older ones in my book. Good hunting,
Benny
PS Do check out Westnblue’s journey (linked below) – he went looking for cheaper homes in Brisbane and other areas years ago now, but the suburbs may still be valid for your purposes.
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