BNE - $450K budget - What do people think of Manly West

[KT_Blues]

Hi All,

I am planning to buy my second investment property and looking towards Brisbane. My budget ~$450K.
After browsing many properties in my price range and then checking suburb profile I am thinking of Manly West.

My original goal was to buy a house at ~$450K, within 15 km of city with min 5% rental yield and min of 500 sq.m land and below approx. 10% lower than median price for the suburb. Possibly 'renovators delight'.

Manly West is further away than my original goal, but it next to very expensive suburb - Manly. So what do people think of Manly West?
Is there a sweeter spot in Brisbane area to buy at?
Did anyone recently saw a property they would have bought if they had money that is in BNE and within my budget and do not mind sharing?

 

[KT_Blues]

Just to add, my PPOR is in Rockdale NSW, I chose it because its close to Brighton-Le-Sands that is more prestigious and expensive.During the time I owned it Rockdale went up in price due to proximity to Brighton-Le-Sands. So naturally I am looking for the same scenario....

 

[Davothegreat]

I just bought in Manly West and your described scenario was one of the drivers for the purchase... and I live up the road from you in Carlton.

I found any properties up there that are decent and under the 500k mark get snapped up very quickly - the house I bought was on the market for 4 days including the weekend (Friday afternoon - Tuesday) and offers from other interested parties came in on the Wednesday but too late for them as the contract was already signed.

Cheers,
Dave

 

[Dbz_Vic]

KT, it depends on your goal i guess. I have also been looking at Brisbane, but i am after cashflow so looked south to Logan for 7%+ returns. Initially i was also very attracted to nice suburbs such as Indooroopilly, Chapel Hill, and south side suburbs like Rochdale South but its hard to find bargains (mind you even in Logan i have found that they are not discounting unless its a reno upper) and numbers don't work for me, yields are in negative territory for majority of these suburbs, if it was last year or year before it would have been positive cash flow. Really depends on your circumstances.

 

[ricflair]

Manly west is ok, definitely has better parts. Try any part of Manly a West in the Manly primary school catchment. Generally nicer part