Bowen Hills

[Ratter]

Good morning everyone!

I'm new to the forums and thought I would kick off my maiden post with a question. What do investors think about Bowen Hills?

More specifically I have been approached to consider purchasing a 1 bed 1 bath no car space apartment on the lower floors of the CODE development in Bowen Hills, on the market for $362,000.

I have been made aware that the rates and body corporate costs will have an impact on net yield but I am particularly keen to establish the wider communities thoughts on capital growth prospects in the current market? I have read that there is large demand for single bedroom apartments?

The development is due to complete in mid to late November so not long before it all happens.

Would greatly appreciate any successions or advice.

Regards,

Ratter

 

[vbplease]

I remember posting a couple years ago about CODE in this thread.. I was biased since rates had doubled.
I'm not really convinced that the demand is there to warrant good CG and yields.. lots of nice apartments about to open up in the Valley & Newstead as well, which I think is already at saturation point.

I'd have a look at Skyscraper life forum - lots of really good info there about Bowen Hills, the whole rejuvenation, and CODE in particular.

Welcome to the forum

 

[Ed Barton]

putting aside the debate about buying off the plan....

there is a massive amount of apartments being built or planned/marketed for the area and no shortage of develop-able land.

 

[Ratter]

So given the large stock coming on to the market would it be your opinion that it not be a solid investment?

 

[Ed Barton]

So given the large stock coming on to the market would it be your opinion that it not be a solid investment?

i would not buy there. i liken it to the apartment equivalent of new housing estate on the fringe; there's always another block coming to market. nothing scarce about it. although out of the three burbs (valley, teneriffe, BH) with massive development i would chose BH because of it's proximity to the RBH.

also, depending on the location, direction and height the apartment may have a lovely view of the spaghetti junction of all the new toll roads.

personally in that area i would head out to windsor or wilston and if i had to buy OTP/new i would buy at the development at alderly train station, i think it's called alderly square.