Brisbane 48 HRS ago!

[Grego]

Just returned from Brissy
Looked at Nundah(sorry Kev ran out of time for a visit), Indooropilly( already have ip1 there), spring hill /fortitude valley & at Canon hill / Murarrie

Love Indooropilly, evident that I have acheived quite good capital growth in the last 18 months, lucky if you find new units under $300K (off a main road)

Was impressed with Fortitude Valley, a few devs happening there, just wondering if they are keeping up with demand or is there going to be oversupply? There is plenty of room for a lot more urbanisation to happen in the area.
The area around James street with its trendy shops and close proximity to everything young people could want/need impressed me, it reminded me of an emerging Newtown or Surry hills and so much bloody cheaper.

Looked at a Mirvac estate at Murarrie although it looks like Canon hill to me on the street directory.
I would be interested in peoples opinions of that area.
I beleive places like Morningside/Bulimba have done well lately & assume there would be a flow on effect. Close to transport, CBD and down the road from good size shop centre.
Are there any skeletons in the closet of Murarrie that I need to be aware of?

Also liked parts of Spring Hill, reminds me of a cross between Surry Hills/North Sydney(back streets) and Paddington a few years before they became trendy. Looking in local agents windows there still appear to be some quite reasonably priced older units from $175k upwards, not bad when you are just a quick stroll into the CBD.

and what can i say about Nundah, bloody fantastic place, eh Kev
looked at some units on Bage st, new and very large although 3 bedders were around $325K
Anyones views on the above welcome
Regards
Greg

 

[Kevin Hockey]

Originally posted by Grego
Just returned from Brissy
Looked at Nundah(sorry Kev ran out of time for a visit),
and what can i say about Nundah, bloody fantastic place, eh Kev

Regards
Greg

I'm with you Greg, obviously with no bias intended.

Kev

www.nundahrealestate.com.au

 

[RetiredBy50]

Grego

I am a newbie and thinking of IPs in Brisbane/QLD.

One IP : Max 200K and the other one : Max 300K
I prefer house and land with good CG.

Some people say that bay side areas such as Brighton, Deagon, Lota, Birkdale and Wellington Pt are good buy.


Any suggestions on which suburbs I should look at.

Thanks

 

[Grego]

RB50
When i originally got interested in investing in Property I was always going to buy in Sydneys' East as I knew the area well from photographing 100's of properties for agents.
I sat on my hands & watched prices continue to increase and rental yields fall. I had subscribed to Property Investor mag & was reading more & more on the potential Brissys cycle still had in it.
I decided that if property close to Sydney CBD(not in the CBD) was continually growing then there was no reason this will not be duplicated further down the track in other capital cities.
I was fortunate to come across a mob called "Which Property" who while they are agents, appear not to just sell anything that they can get their hands on. It has to be in a suburb with potential for capital growth, it has to be in a desirable location within the suburb( not over the top of rail lines etc), it is usually new property and has to be well built by a reputable developer, & be of a decent size internally. On their web site they do actually talk about properties that they won't list and why!

This all fitted with my way of thinking and hence I bought a good property at Indooropilly & i am about to buy a 2nd through them.
To answer your question you could do worse than speak to them although you won't find anything around the $200K with land on offer.
I also spent a lot of time looking at Real Estate.com.au and did suburb searches and found heaps of property within a 10Km radius of the CBD in the $250-$350K mark.
when I go up there I do a lot of walking around the suburb to get a feel for what kind of proprty is on offer, what kind of people live in the area( places like fortitude valley is a young peoples area, and its usually these people with plenty of disposable income that can influence pricing (usually upwards).
I did look at Deagon & Sandgate & feel there is potential as people are spending money along the waterfront which should drag prices up in the surrounding area.
I have read Ipswich has potential & you can get new house & land packages in the area for just over $200k with a fairly good yield.
Don't discount units & townhouses they can have very good capital growth & usually less maintenance required, and usually a cheaper entry point to the market.
These are just my opinions as I am no expert
Regards
Greg

 

[RetiredBy50]

Thank Grego

I already have 2 apartments (IPs) in Bowen Hills.

I paid 240K each last September.

Now simlar apartments are selling for 300K.

I might want to buy a house and land this time.



PRD research also predicted Numdah as a 2003 hot spot.

You said it is a fantastic place. Can you tell me more about that suburb.

I am also thinking of buying an IP in Nundah as well.

Do you think Nundah has an upside potential ?

 

[Kevin Hockey]

Originally posted by RetiredBy50
Thank Grego

I already have 2 apartments (IPs) in Bowen Hills.

I paid 240K each last September.
Now simlar apartments are selling for 300K.
I might want to buy a house and land this time.

PRD research also predicted Numdah as a 2003 hot spot.
You said it is a fantastic place. Can you tell me more about that suburb.
I am also thinking of buying an IP in Nundah as well.

Do you think Nundah has an upside potential ?

I would recommend buying house and land this time also, just for a little diversification if nothing else. As for Nundah, well I am obviously biased but are you aware of the $45 mil development happening there. It will include Woolworths plus specialty stores, 123 apartments and underground parking. If you would like to know more email me at [email protected] and I will onforward more info for you.

Kev

www.nundahrealestate.com.au

 

[Grego]

Hi RB50

If you already have 2 ip's at B Hill then you probably know more than I do about the area
The referece to Nundah was a slightly tounge in cheek reference directed to Kevin, although Its got potential & the reasons Kevin gives above are probably one of the reasons the Which Property group are recommending the area
Regards
Greg

 

[Jen]

Hi Grego,
I'd be interested to know more about the group "which prorperty." Who are they?
Thanks,
Jen

 

[Ross Sondergeld]

Which Property...

Hi,


Please remember... that 99.999% of real estate agents SELL real estate. I'll repeat that... they SELL real estate...


Ross for Property

 

[Grego]

Hi Jen

Yes they are real estate agents as I pointed out above, but in my humble opinion they are at least selecting quality properties with good capital growth potential( ie a 1-6km radius of the CBD)
Check out their website at whichproperty.com.au or email me at [email protected] if you want other contact details
Regards
Greg

 

[Jen]

thanks Grego.