buying investment house in narangba

I am looking into buying an investment house in narangba, is this going to be the next booming market. Will I make any money here?
 
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I guess it's in SE Qld, which is supposed to be having enormous growth, but I think it's a country area isn't it? Hence maybe a little slower than the famous SE corridor (Brisbane to Gold Coast)?? Maybe someone from Brisbane area will know more.
Why do you suspect it may be the next booming area?
 
lots of flack a while ago about a big industrial fire that apparently poisoned the land and there is a big compensation claim going through. Not a great reputation i think.
 
came off a low base over the last 4-5 years, so gave the perception it was hot re cg, yields, and quality of tenants.

limited in public transport and local job opportunities (if we have a petrol crisis, many will be stuffed)

limited in aspirational mindset. abundant with ignorance and welfare class (though these are progressively getting squeezed up to Caboolture and beyond)

If B&H, better opporunities closer to town.

Could be ok if you get a sub div block, but then you wouldn't need to ask questions here if you knew that.

2 good opportunities:
- retirement villas. an unlimited supply of ageing frugals from Brisbane are looking for sub 200k villas with like mindeds...
- commercial real estate. the local council sucks. there is an extreme shortage of commercial and high vis retail property, present or planned.
 
I have an IP sitting on two titles at Deception Bay which is just next door to Narangba, just 6 months ago I had it valued for 250k and just yesterday I rang the agent about selling. Her words to me were "you better be sitting down when I tell you the answer!!!" She gave me answer of 350k being a sure price!! Of course I asked what she was on but she and other agents have been inundated with out of state investors and this has caused prices to sky rocket, due to the affordable prices. My IP is also 400 metres from the water but houses several kms away are selling for slightly less. I checked the internet sights and sure enough they have crept up, the RE agent also gave the prices of the last 5 houses all within 500m from my house confirming the prices sold to be above what she recommended mine to be sold at.

I was going to sell now I'm not too sure, you'll most likely see a thread by me on any suggestions.
 
I think this is a good area (however I would coz I bought IP here!!)

However, prices have gonu up and there are very few rentals around at the mo. so it is easy to get rid of... However, one of my concerns was that there are so many new developments around and many of them are being sold off the plan or to interstate investors. Therefore, I beleive in a year it may be a push for rentals with everyone competing which may push the price down??

I do also like the surrounding suburbs such as Burpengary, D-Bay, etc... Over towards Redcliffe is a bit more exp (with the train line that will never be!!).

The prices in Narangba have gone through the roof this year... Be careful does everyone beleive it will carry on??
IMHO it will!!!:D
 
msdawn is right - there was a major chemical fire in August 05 (Binary chemicals). Current estimates of cleanup costs are up to $80M and last I heard the creek backing onto the industrial estate still is signposted due to contamination

Once the media heat has cooled on this (it may have already) there may be some good pickings

Wal
 
Chemical fires?

Hi Wal

How can I find out more about these chemical fires and if they have effected the area's CG or perception??

Cheers
 
Hi Wal

How can I find out more about these chemical fires and if they have effected the area's CG or perception??

Cheers

Phone the local primary school and a couple of local businesses....say a chiropractor (medical practice receptionists are always pushed for time) and maybe a property manager (Ruth Whitfield focuses on (Narangba and Burpengary). Ask them about it. I know a few people who live up that way and they don't think about it twice.
 
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