Anyone thoughts on Morningside or Norman Park

Norman Park is an outstanding state school, people move to that catchment to get their kids in. I live in that area and much prefer Norman Park to Morningside but Morningside does have a great retail strip.
 
Thanks daryl
As an ip, do u think norman park would b a better investment than Morningside for capital growth.
Is there much newer stock to pick from there
I am assuming 3bed houses would b the mostpopular renting there ?
Thanks
 
I like both, I looked for ip in Morningside a while ago but ended up buying in Carina. Morningside from memory is slightly cheaper than Norman Park. It has a train station close by and has good access to the city or gateway , I like it as its surrounded by more expensive suburbs and has properties on large blocks.
Most of the housing is older with renovated properties at a premium
 
Depends on your budget. We have an IP house in nearby Balmoral and it has always been rented with minimal issues. I know locals consider NP better than Morningside however :)
 
thanks guys
seems norman park seems a better ip option from the comments
does morning side tend to have bigger blocks of land than norman park?
if so, would that b an attraction?
thanks
 
I actively sell in both of these suburbs.

Both are great suburbs, I would say that Norman Park is probably a more tightly held suburb, with Morningside having a larger number of units, and also a higher number of approvals currently underway or in the pipeline.

Morningside has done really well recently has buyers are priced out of the Bulimba, Balmoral and Hawthorne markets. There really are 3 specific areas of Morningside and we find that prices vary quite substantially depending on where the property is located in the suburb and what type of stock it is. We are seeing prices really accelerate in Cannon Hill which is classed as "the next ring out" from Morningside which all speculation aside should lead to continued price growth in Morningside. There are always tenants looking to rent in Morningside, as it is an established rental market with the large number of units, however there is also more stock for them to choose from which may affect the rental yields, in particular in a softer rental market.

Norman park is also divided into several different areas, although there is probably less price differentiation across the suburb. There would be more townhouse stock than unit stock from a multi unit dwelling point of view, with the high end house sales in Norman Park typically consistantly outperforming high end Morningside sale prices, with a higher number of prestige property sales. There is a large amount of competition for entry level houses in both suburbs, but less competition from a rental point of view in Norman Park.

It really does depend on what you are looking for in your property purchase. Are you looking for a standalone house with good capital gains, or looking for something that you can potentially build units or townhouses on in the future. We are finding that anything with development potential is selling for high prices at present to developers who are looking to purchase and build immediately, which is meaning that the holding income for properties that are bought for future development aren't making sense for those buyers that need a decent holding income for their investment strategy. Houses bought for capital growth as a stand alone home are seeing strong competition from first home owners, however may show a better yield for those looking for or needing a larger holding income.

In a nutshell though, both suburbs are performing well, and it really comes down to how individual properties in those areas suit your investment needs.

My 2 cents worth!
 
I actively sell in both of these suburbs.

Both are great suburbs, I would say that Norman Park is probably a more tightly held suburb, with Morningside having a larger number of units, and also a higher number of approvals currently underway or in the pipeline.

Morningside has done really well recently has buyers are priced out of the Bulimba, Balmoral and Hawthorne markets. There really are 3 specific areas of Morningside and we find that prices vary quite substantially depending on where the property is located in the suburb and what type of stock it is. We are seeing prices really accelerate in Cannon Hill which is classed as "the next ring out" from Morningside which all speculation aside should lead to continued price growth in Morningside. There are always tenants looking to rent in Morningside, as it is an established rental market with the large number of units, however there is also more stock for them to choose from which may affect the rental yields, in particular in a softer rental market.

Norman park is also divided into several different areas, although there is probably less price differentiation across the suburb. There would be more townhouse stock than unit stock from a multi unit dwelling point of view, with the high end house sales in Norman Park typically consistantly outperforming high end Morningside sale prices, with a higher number of prestige property sales. There is a large amount of competition for entry level houses in both suburbs, but less competition from a rental point of view in Norman Park.

It really does depend on what you are looking for in your property purchase. Are you looking for a standalone house with good capital gains, or looking for something that you can potentially build units or townhouses on in the future. We are finding that anything with development potential is selling for high prices at present to developers who are looking to purchase and build immediately, which is meaning that the holding income for properties that are bought for future development aren't making sense for those buyers that need a decent holding income for their investment strategy. Houses bought for capital growth as a stand alone home are seeing strong competition from first home owners, however may show a better yield for those looking for or needing a larger holding income.

In a nutshell though, both suburbs are performing well, and it really comes down to how individual properties in those areas suit your investment needs.

My 2 cents worth!

Thank u so much for your detailed response
I was looking for stand alone house as an ip with good capital growth
If it was on a large block with development potential, even better, but i suppose it would depend on the price and yield

With Norman Park and Morningside
1. which type of property rents best . i.e. house, townhouse
2. how many bedrooms and bathrooms and car spaces is most popular i.e. 3/2/1 or 4/3/2 for eg
3. any special internal and external features proving essential for tenants
egbackyards, study room etc
4.differnce in avg prices and current rental yields for the two areas

I was also considering Moorooka as a second ip option
just your thoughts on that also

many thanks in advance
 
Thank u so much for your detailed response
I was looking for stand alone house as an ip with good capital growth
If it was on a large block with development potential, even better, but i suppose it would depend on the price and yield

With Norman Park and Morningside
1. which type of property rents best . i.e. house, townhouse
2. how many bedrooms and bathrooms and car spaces is most popular i.e. 3/2/1 or 4/3/2 for eg
3. any special internal and external features proving essential for tenants
egbackyards, study room etc
4.differnce in avg prices and current rental yields for the two areas

I was also considering Moorooka as a second ip option
just your thoughts on that also

many thanks in advance

Moorooka is significantly different in many ways than Norman Park and morningside, and if these two are too expensive I'd look at their neighbouring suburbs as they have similar look n feel and demographics.
 
Moorooka is significantly different in many ways than Norman Park and morningside, and if these two are too expensive I'd look at their neighbouring suburbs as they have similar look n feel and demographics.

thanks.
i was considering moorooka as a second ip in addition to possibly norman park
do u think it has good capital growth potential in % compared to norman park?

thanks
 
Thank u so much for your detailed response
I was looking for stand alone house as an ip with good capital growth
If it was on a large block with development potential, even better, but i suppose it would depend on the price and yield

With Norman Park and Morningside
1. which type of property rents best . i.e. house, townhouse
2. how many bedrooms and bathrooms and car spaces is most popular i.e. 3/2/1 or 4/3/2 for eg
3. any special internal and external features proving essential for tenants
egbackyards, study room etc
4.differnce in avg prices and current rental yields for the two areas

I was also considering Moorooka as a second ip option
just your thoughts on that also

many thanks in advance

You will find that you are pretty limited with what you will be able to purchase in either suburb. Your typical home will be a 3 bedroom pre or post war home with 1 bathroom and perhaps a carport or car accommodation under. Often these were 2 bedroom cottages that had a sleepout converted into a bedroom. A little different to purchasing a modern house with a lot more boxes ticked, the good news however is that buyers and tenants are used to these style properties in both of the suburbs you are considering.

I am not an expert on rentals, and would have to check with our rentals guys here in the office, however in my experience there is little difference between yields in the two suburbs.
 
thanks.
i was considering moorooka as a second ip in addition to possibly norman park
do u think it has good capital growth potential in % compared to norman park?
thanks

You'll need to do some research on past performance, and how each suburb has performed recently. Plenty of Brisbane suburbs have seen significant growth already. If you find one that hasn't got to its previous peak, probably a good sign. Way ahead of the previous peak - how much does it have left in the short term? Depends on the individual property too.
 
thanks ryan
what r these properties roughly going for in the 2 suburbs assuming 600sq metres

Mid to high 6's on a 400ish block for a presentable home is good buying for Norman Park, 600's will push into the mid to high 7's easily for a good spot. Main road properties will sell for a little less.

http://www.realestate.com.au/property-house-qld-norman+park-117529195
http://www.realestate.com.au/property-house-qld-norman+park-117334911

Morningside can be had a little cheaper, look at cannon hill for better value. I sold a presentable house in a cracking street for just over 600 on a 607 m2 block for a 3 bed 1 bath in immaculate original condition.

http://www.realestate.com.au/property-house-qld-cannon+hill-117936291

I can take this post down if anyone sees it as self promotion, I just wanted to use examples of properties from the area that have sold!!!
 
Mid to high 6's on a 400ish block for a presentable home is good buying for Norman Park, 600's will push into the mid to high 7's easily for a good spot. Main road properties will sell for a little less.

http://www.realestate.com.au/property-house-qld-norman+park-117529195
http://www.realestate.com.au/property-house-qld-norman+park-117334911

Morningside can be had a little cheaper, look at cannon hill for better value. I sold a presentable house in a cracking street for just over 600 on a 607 m2 block for a 3 bed 1 bath in immaculate original condition.

http://www.realestate.com.au/property-house-qld-cannon+hill-117936291

I can take this post down if anyone sees it as self promotion, I just wanted to use examples of properties from the area that have sold!!!

Thanks ryan
With the suburbs surrounding norman park, in postcode 4171 balmoral, hawthorne and bullima, how is the comparable house prices there and r they in hot demand
I assume they r blue ribbon with higher long term CG potential

Thanks
 
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