Where in Queensland are you looking to buy?

Agent 86

Bargains are always there , whether in Nambour or any other place you choose to look.

Nambour has been coming of a low REA base. The Nambour Hospital is the largest outside of Brisbane.
Do have a look at the facility's, there is much more than Psych available.

At the end of 2003 ( the top of the market in Nambour) you could buy a three bedroom house for about 190K.

With most of the REA market having tracked sideways in Queensland since then, you would find it challenging to source a three bedroom house in resealable condition ( in Nambour today) under 250K.

Catching public transport is only as challenging as the existing infer structure allows, improvements as per Nambour transport plan should create opportunity's that will increase current REA values.

It would appear that Units & Town houses have not established a resale value yet, possibly due to land value.

Gerd

Gerd,

Yep, agree it has the infrastructure thats lacking in and around most of the S/coast. I've had to use the emergency dept of the Hospital many times over the years. Happens when you've got too many kids playing with knives and other things. Also has the closest 'Office of Consumer Affairs' for us too as well as Dept Natural Resources, Main Roads Dept etc etc. Nothing wrong with the existing transit centre either as my kids have been using it for years. McDonalds conveniently located alongside.
Nambour as a service centre is fine, but IMO will only get the flow on effect (re CG) from the more 'lusted after locations' (love that term, Lizzie) on the Sunshine Coast. Yields aren't great (have to be an absolute bargain) but who knows, what with the price of fuel.
Location, transport wise, Nambours great due to regular trains to and from Bris.
Was at BIG W (more infrastructure ) the other day and I'm not joking or bagging the place but there was quite a few people in the street that you could see had a mental illnesses. That is not uncommon in Nambour. btw I think its good they are included into the community rather than the reverse. IMO though, that is part of the reason there is a lot of cheap units/flats.

If your figures are correct re 190k top of boom, you'd have to ask yourself why did it remain so low compared to the rest of the S/coast including the other hinterland towns.
I can only put it down to the psych ward which has a very large catchment area.
I know of drug addicts that did travel regularly to Nambour from a long distance to see/convince the psychiatrist they still needed methadone.
They no longer travel.

BTW Nambour and adjoining small town of Yandina are the only 2 towns in the s/coast area that I've noticed have vacant shop premises. No doubt that will change, but it beats me why they (council?) are so upbeat about development of ex sugar mill site.

Hi rexilla99,

sure, no problems - duplex just sold was purchased 18 months ago for $190k.

Houses vary in worth from purchase prices of $140k - $260k and are valued now (between 2.5 years ago down to most recent purchase in Jan this year) at between $245 - $350k

They are all middle of the road, relatively down-market to mid market type of properties, all rent immediately they are available, all have reasonable rent increases each time there is either a change of tenant or new lease, just going down the path of most sought after properties by the most people.

One is a potential unit/townhouse site for down the track a bit.

Our Brisbane properties are the other end of the market being upper end stuff ($900k - $1m bracket) and even tho attract big rent and depreciation etc need a fair bit of a top up each month as are cash flow -, but that's ok as they earn more each year in cap growth than we do individually in salaried jobs !

Just gives us a diverse & somewhat balanced portfolio without all our eggs in the one basket, and works for us

Cheers,

Gemini

Cairns

My friends just bought a 1-bed unit IP in Cairns for $90K, with tenant in residence paying $135 pw on 6-month lease. They bought yesterday. So now I'm looking around as well.

What about Beerwah, Landsborough area on the rail line just north of Brissie and about half an hour from Caloundra and all that sand and surf etc.

I have no idea if it is currently undervalued - i doubt it.
My question is - is a 8-10 year time frame a propsition?

Any Brissie people here who have looked into this area?

Almost bought at Holland Park West, last week , just beaten to the contract. Post war house sitting on 2 lot 809sqm splitter block, each with 10 metres wide but having double road frontages. Advantages for the double road frontage would be, you could build new premises with all house out front and garage at back end of house on other frontage.

gerd. said:

At the end of 2003 ( the top of the market in Nambour) you could buy a three bedroom house for about 190K.
Gerd

Click to expand...

I have an IP in Nambour, I think it will be a great town investment wise for the future. As for getting a house for 190k at the end of 2003, I don't think it would have been much of a house, as I just looked back at a val on my Nambour house at the end of 2003 and it came in at 230ish and its just a basic lowset 3br brick.

JIM

mitta said:

Almost bought at Holland Park West, last week , just beaten to the contract. Post war house sitting on 2 lot 809sqm splitter block, each with 10 metres wide but having double road frontages. Advantages for the double road frontage would be, you could build new premises with all house out front and garage at back end of house on other frontage.

Click to expand...

What was the sale price for this property?

rexilla99 said:

What was the sale price for this property?

Click to expand...

Hi rexilla99,

List price was 495k, not sure about the other parties offer but our's was to be 470

Mark

Coomera

Hi all
Is anyone buying in Coomera or is the expanse of bushland putting investors off. Am looking at near new houses in area. Any thoughts?
Cheers
Glenn

Purchased IP last year in Carseldine.

http://villaworld.com.au/currentprojects/northpark/index.asp

Had a tenant a week after settlement. Fitted my critera just perfectly.

Hi Jim

We purchased a property in September 2003 close to the hospital and yes it was towards the bottom of the housing stock at the time (fibro) . Also the house was a reasonable rental we purchase it for the land.

Gerd

Im looking at Zillmere in Brisabane, looks promising from what I have researched....

Property #10

Hi Everyone....I'm just soooooooo excited....just had my offer accepted on Property #10...my dream beach front 2-bed cottage overlooking the Great Barrier Reef. A minor road and a couple of palm trees swaying in the breeze, separate me from the sand.

This will become my new PPOR (current PPOR will become IP), so I'll be checking out the reno tips thread, as I will need to make a few changes to accommodate me and the Pooch...not to mention the deck for sundowners. So you are all welcome to join me for sundowners when the renos are finished.

BIG BIG thankyou's to all those who gave me invaluable advice and encouragement!

cheers
Sharon

Congratulations to you Sharon!
Well done!
I hope you will be very happy there. Water views are fantastic, and a short stroll to the beach.......Fabulous!
Sunset drinks sound great
Keep us posted re: your renos.

If you ever come to Bribie, join me for a drink here.
I fell in love with my water views and location.

Cheers,
Margo.

Although I live in a paradise, I just bought an IP in Carina Heights, Brisbane.
And now learning anything and everything, and as much as I can on developments.
Scary, but I know I can do it.
And many thanks to this forum and great help and info! It is invaluable!

Long Live the Somersoft Forum!
And Many Many Thanks to Jan Somers for creating this marvellous opportunity
for investors to share their knowledge and experience.

Much appreciated!

Congrats GMG....how fantastic is that!!! Will you be doing any renos, or is it good to go renting?

Sharon

well done on No 10 sailor.
How exciting an new home and a reno.
Where is this new palace of yours?
Did you get it below market?
How did you find the market? soft, upward,many buyers.etc etc?
cheers yadreamin

yadreamin said:

well done on No 10 sailor.
How exciting an new home and a reno.
Where is this new palace of yours?
Did you get it below market?
How did you find the market? soft, upward,many buyers.etc etc?
cheers yadreamin

Click to expand...

It's on the beachfront at Machans Beach...7 mins north of Cairns CBD.
Below Market? Not sure how to tell? Help would be appreciated.

Mine is the worst house in the absolute best street. Council park land on 2 sides (back and one side). Termites have been resident for some time, so will need a couple of stumps replaced and some floor boards fixed up. I'll probably get the floors sanded and polished. There's not much in the way of kitchen cupboards and no linen press or other storage space. (I will just have to survive until I get some build-ins!) Oh...and the roof leaks and needs replacing before the wet starts in Dec. And there's no mesh screens on any of the windows or doors, and no power points where I will need them. Tis painted a vile combination of blue and yellow inside and out. So, I have quite a bit of renovating to do.

The next worst one in the street has houses both sides and are asking 20% more than my purchase price, but it has no garage, no storage shed, no carport, and is slightly smaller. The next next worst house is $150K dearer than mine, but they have a wee bit more land, and tis fenced on 4 sides.

I also looked at sales for the past 20 years (and everyone has made a motza), despite the swings and roundabouts. In the last 5 years median house prices have doubled+ for the entire surburb. Four bed homes in the street are asking over 1 1/2 times more than mine...and they're getting it. My 2-bed cottage is still the cheapest price in the whole st over the last 2 years.

The Market...not sure what you mean by these terms...but there aren't many buyers around, and the contract on my house fell thru last week (they couldn't get finance), so that's how I got in a bit less than what they offered.

I'd really appreciate some help with your terminology please...time I learned the lingo, eh!

Sharon

sailor said:

I'd really appreciate some help with your terminology please...time I learned the lingo, eh!

Click to expand...

Hi Sharon.

If you've just bought property number 10, I think you know the lingo quite well . Maybe you just speak it in a different dialect .

Sounds like you are doing something right. Good on you.

Regards
Marty