$350k. Within 10km of Brisbane CBD. Suggestions? (First IP)

Here is an old spreadsheet I did with distances from the CBD. I did some colour codes to see banding.

Rocklea is on the 10k fringe. About $250-$300k would find value. Anything less than $250k check the floodmaps. (on the BCC website).
Slated for CG but will have the flood hangover for a few years yet. Check insurance quotes as part of your DD.
Big bunnings and industrial area but low vacancy rates and close to good train and bus services.
Cheaper than Moorooka and Salisbury and I think that both (esp Moorooka) have priced out many buyers (PPOR & IP) who might consider Rocklea now.

Cheers

You'd be brave to consider rocklea.
 
Rocklea is a hole... full of water.

I would pay the extra $50 000- $100 000 for the next suburb over in order to avoid getting flooded every couple of years. Plus rocklea is full of main roads going straight through it, and industrial areas. Lower SES, lower rents, etc...
 
Anyone on the ground in/around/own in Mt Gravatt/Upper Mount Gravatt?

Upper Mount Gravatt (somewhere near to Garden City Westfield) is looking particularly appealing. How's the dining in the area? Reviews online are overwhelmingly positive...insanely good. What else can you tell me?

Thanks again all for the input.
 
Rocklea is a hole... full of water.

I would pay the extra $50 000- $100 000 for the next suburb over in order to avoid getting flooded every couple of years. Plus rocklea is full of main roads going straight through it, and industrial areas. Lower SES, lower rents, etc...

I didn't stay I'd live their. But I'd look at the numbers...
 
Anyone on the ground in/around/own in Mt Gravatt/Upper Mount Gravatt?

Upper Mount Gravatt (somewhere near to Garden City Westfield) is looking particularly appealing. How's the dining in the area? Reviews online are overwhelmingly positive...insanely good. What else can you tell me?

Thanks again all for the input.

I'm wondering if you are looking at houses on Mt gravatt Capalaba Road or Logan Road if your budget is around $350,000? They are busy street with lots of traffic. Maybe good if you want to run a home business, not so good for living in or rental.
 
I'm wondering if you are looking at houses on Mt gravatt Capalaba Road or Logan Road if your budget is around $350,000? They are busy street with lots of traffic. Maybe good if you want to run a home business, not so good for living in or rental.

Yeah, I realise my budget (even if I can push it towards $400k) is going to limit my options of buying a house that isn't on a main road in Upper Mt Gravatt – unless I pull off something amazing.

I'm more considering the option of a townhouse/apartment/villa if in Upper Mount Gravatt.
 
Now that it's been over a year since this thread was posted.. what suburbs can you buy in for that budget and not too far from the cbd? I looked at this thread yesterday thinking wow thats cheap, then realised how old the thread was! Thought i was looking on the wrong websites for 'bargain prices'!

Also, i asked this in another thread but i don't think it was answered. Why is the stamp duty cheaper in QLD than NSW?
 
Regarding stamp duty, it's a state tax so different jurisdiction. Just like income tax can be different in different countries. Payroll tax is also different for that matter.
 
Here is an old spreadsheet I did with distances from the CBD. I did some colour codes to see banding.

Rocklea is on the 10k fringe. About $250-$300k would find value. Anything less than $250k check the floodmaps. (on the BCC website).
Slated for CG but will have the flood hangover for a few years yet. Check insurance quotes as part of your DD.
Big bunnings and industrial area but low vacancy rates and close to good train and bus services.
Cheaper than Moorooka and Salisbury and I think that both (esp Moorooka) have priced out many buyers (PPOR & IP) who might consider Rocklea now.

Cheers

It does not all flood some of the streets up near the railway line Salisbury Side did not go under but anything in the low park areas did,or anything on the other side near the Rocklea Markets all went under we had 2 in that area prior too 2011,they were in the 380k range the days before the flood,one week later real estate agents in gum boots were offering 100k
with a three month settlement gotta love real estate sales people..

Plus a few in the flood free areas"very-few" have been rezoned,myself I don't think you would buy for 250k maybe flood free vacant land that has been split within the last few years,but not a house,nothing wrong with Rocklea we have had property in that small area for 16 years prior too the flood always rented one tenant in one for 13 years ,then the poor bugger
committed suicide,and we are helping the gentleman son find his mother in
Thailand over the past few months..
 
Not Rocklea. Really no. I lived there once. Also Tennyson - no. Acacia Ridge worth a look - the ridge not the flood plain. Cannon Hill is on the move I think.
 
Stamp Duty in Qld - they charge us wicked landlords twice the amount that they charge owner occupiers. Why? because they can. Do you think any of the "do away with negative gearing" brigade would mind if us wicked (did I say evil?) landlords get charged extra because, naturally, well everyone knows we are so rich.
 
Stamp Duty in Qld - they charge us wicked landlords twice the amount that they charge owner occupiers. Why? because they can. Do you think any of the "do away with negative gearing" brigade would mind if us wicked (did I say evil?) landlords get charged extra because, naturally, well everyone knows we are so rich.

Is there any way that you could say that you are an owner occupier, but really have the house as an investment, just to save on the stamp duty? How do they check anyway?
 
I'm open to all dwelling types ??? house/townhouse/apartment etc. As mentioned, I can stretch the budget a bit further if needed. I will also consider a bit further out if it looks like a strong option but have really narrowed it down to the 10km radius.

From what I've looked at, there are still houses to be found for that price within 10km though..just not the most opulent of places.

10km of the cbd for that price you may not get much. If you want house and land, in that radius you would most likely be looking at areas that are flood prone or real dumps.

Id consider a older units or townhouses with reno potential - usually these have better rental yields and the reno will add some CG. Plus, if its in a somewhat decent area [ most within 10km are], the area will also deliver organic growth.

Id seek some in places like carina, cannon hill etc. stuff like this:http://www.realestate.com.au/property-unit-qld-carina-118375051[
 
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Is there any way that you could say that you are an owner occupier, but really have the house as an investment, just to save on the stamp duty? How do they check anyway?

Well maybe if you lived in Brisbane it could of been possible!

Change your address and rent the house to some friends at a cheaper rate for a little bit

But then you would have to buy it as owner occupier on contract - won't service as well with the bank
 
Well maybe if you lived in Brisbane it could of been possible!

Change your address and rent the house to some friends at a cheaper rate for a little bit

But then you would have to buy it as owner occupier on contract - won't service as well with the bank

True that. Less borrowing power eh? Guess i didn't think that far ahead. Any suggestions on suburbs that might be good to look at ? I keep looking and looking and not moving on anything and prices just keep going up. I was looking at Chermside, but i think that could be out of question now with pricing.
 
True that. Less borrowing power eh? Guess i didn't think that far ahead. Any suggestions on suburbs that might be good to look at ? I keep looking and looking and not moving on anything and prices just keep going up. I was looking at Chermside, but i think that could be out of question now with pricing.

What's your budget, dwelling type, yield, block size

I don't look too much anymore

Probably because I have been watching the market in Brisbane for a couple of years and it's hard to Adjust the perceived value in my head

It's probably still really underpriced in reality though
 
Probably because I have been watching the market in Brisbane for a couple of years and it's hard to Adjust the perceived value in my head

It's probably still really underpriced in reality though

That's the hardest thing to do. Doubly so if you've managed to snag a bargain. When you have the dual forces of a rising market and having snagged a bargain, even when the market is still undervalued it messes with your ability to be rational.
 
What's your budget, dwelling type, yield, block size

I don't look too much anymore

Probably because I have been watching the market in Brisbane for a couple of years and it's hard to Adjust the perceived value in my head

It's probably still really underpriced in reality though

Budget probably $350k-$400k. Probably no more as i think i'd be stretching borrowing capacity maybe?

Dwelling type - preferably house with land - possibility to develop in the future. Even if i don't develop it, it will be wanted by somebody else in the future.

Yield - anything above 5.5% is nice really. Not wanting to be out of pocket too much. So slightly negative geared to neutral/positive is fine. My current property around Penrith, NSW is 5.8% yield. I don't notice small repayments anyway.

Block size - whatever is needed for it to be develop-able in the future. My current property in NSW is 696sqm and is develop-able now.

I've only just started watching the Brisbane market since about April this year.. and i have noticed movement already. Not sure if it could be slightly too late to hop on the band wagon. I am hoping for strong capital growth too.
 
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