Brisbane City areas...

[li21]

Hi all,

What are some good areas within 10-15kms, maybe 20kms of the Brisbane CBD that have good potential for growth aswell as being popular with renters? (high 100ks to mid 200ks for townhouses)

I have been thinking of the following and surrounds
- fortitude valley
- Mt Gravett
- Carindale
- Capalaba

what are toughts on these areas?

Also does anyone know where I can get a basic layout map of Brisbane city so I can see clearly where all the suburbs I am thinking of are in relation to other suburbs, cbd and major roads.

Thanks.

 

[Aceyducey]

Liz,

Go look at the Brisbane council website.

Cheers,

Aceyducey

 

[Jacque]

Hi all,

What are some good areas within 10-15kms, maybe 20kms of the Brisbane CBD that have good potential for growth aswell as being popular with renters? (high 100ks to mid 200ks for townhouses)

I have been thinking of the following and surrounds
- fortitude valley
- Mt Gravett
- Carindale
- Capalaba

what are toughts on these areas?

Also does anyone know where I can get a basic layout map of Brisbane city so I can see clearly where all the suburbs I am thinking of are in relation to other suburbs, cbd and major roads.

Thanks.

Do yourself a favour and invest $25 in a Brissy UBD. Money well spent
You can pick them up at any big bookstore in Sydney.
The areas you mention are varied and so you need to look at the median prices to get a start, in order for you to ascertain whether or not they meet your budget. Residex also sell their quarterly reports for around $60 which represent excellent value for money, as they not only list median prices for the last 10 yrs but also give you cg rates, rental yields and overall return figures. A great place to start if you're a little unsure.
Don't forget to check out local infrastructure (very important) and transport etc. Happy hunting

 

[MJK]

Also you need to consider what yeild and price range you are after. Whether you are after new or old buildins etc.... that might help narrow it down a little bit.

MJK

 

[khangu]

Li21,

You can scratch out Fortitude Valley, it would be out of your price range. It is a very inner city suburb with a fair bit of units. But those units would be more than 200K each, unless they are small dingy flats.

Capalaba is a bit out of the way. Blue collar type area, with mostly modest brick homes.

Mt Gravatt is nice, though units are rare. Most homes are timber queenslanders and workers cottage. You should be able to grab an unrenovated home for a bit over 200K. About 8km from the city, and well served by roads and lots of shopping centres. Next to Carindale in fact.

Carindale is also nice. There are 2 parts, the 20-30 year old areas with well kept old 1980s 2 levels type tan brick homes, and the newer estates, with quite expensive homes. There are also some units going up, but not many.

 

[li21]

Li21,

You can scratch out Fortitude Valley, it would be out of your price range. It is a very inner city suburb with a fair bit of units. But those units would be more than 200K each, unless they are small dingy flats.

Capalaba is a bit out of the way. Blue collar type area, with mostly modest brick homes.

Mt Gravatt is nice, though units are rare. Most homes are timber queenslanders and workers cottage. You should be able to grab an unrenovated home for a bit over 200K. About 8km from the city, and well served by roads and lots of shopping centres. Next to Carindale in fact.

Carindale is also nice. There are 2 parts, the 20-30 year old areas with well kept old 1980s 2 levels type tan brick homes, and the newer estates, with quite expensive homes. There are also some units going up, but not many.

Thanks for the detailed reposonse!
What other areas can you recommend for my $230k 'ish budget?
I have seen alot of new 2-3 br townhousese on ww.onsitedirect.com.au but not sure if these areas are good.

 

[liverpoolharryk]

Li21,

beaware of onsitedirect properties as most of their stock is situated in big complexes and have a majority of rented out properties, a balance in the complex of owner occupied and investor makes for a better resale. Onsiredirect sell management rights, so they have an interest in selling to an investor to keep the onsite manager happy in what they have sold them. I would be trying to buy in complex of under 10.

Areas such as Carina, Mt Gravatt, Lutwyche, Wynnum are all good areas with good infrastructure around them. Birkdale is also another area I think will be good in years to come, near the water and lots happening up the road in Ormiston and Wellington point. My parents have just purchased a very neat 3 bedroom lowset brick in Ormiston (quiet St) for $250k, I rented it out in a week for $240p.w.

Jarrod
Jarrod Lane Real Estate

 

[khangu]

Li21,

It would be hard for you to find the bargains over the internet.

The ones that are good value are sold quickly, therefore they don't get a chance to appear on those websites.

The suburbs that has a lot of townhouses and units tend to congregate in the inner south, and inner north.

Try looking in Wooloongabba, East Brisbane, Annerley, Coorparoo in the inner South.

In the inner North, there are less choices, but you can look up Windsor, Newmarket, Herston, maybe Albion, and Bowen Hills.

There are lots of units in the inner 'inner' city areas that are being built at the moment, which you could look at, say Spring Hill, South Brisbane, West End, Fortitude Valley, and possibly Newstead.

These places tend to attract the younger professionals, so there are a lot of renters, because they are close to the CBD, as well as the universities & TAFE in the city and South Brisbane.

You can also try inner Western suburbs such as Taringa, Indooroopilly which has a large student population as well.

Moving inner East, you can try Norman Park, Morningside or Bulimba. There are quite a few large unit developments in Bulimba by Mirvac.

 

[li21]

Thanks for your reply guys!!
This is exactly the sor of response I wanted..
This is give me a base to research around rather than sattbing in the dark at areas i never heard of.

hopefully i can find something there!
thanks

 

[Sailesh Channan]

The 3 bedroon home in Ormiston sounds like a good deal. I am not sure how many more of these are out there though.

If you have to go any cheaper you will then be stuck with the town house market. It is then important that you get the largest you can get for your money.

You will also have to avoid areas where there have too many town houses as oversupply can be detrimental to future growth.

 

[li21]

Li21,
It would be hard for you to find the bargains over the internet.

The ones that are good value are sold quickly, therefore they don't get a chance to appear on those websites.

Khnagu, how do I get to find the bargains? are there any buyers agents you can recommend as I am in sydney and the Internet is all I have to get an idea as to whats available ...

 

[khangu]

Li21,

No secrets there, just a lot of legwork and keeping in contact with the agents to be informed of properties that comes up.

I often find the local papers have more listing than the websites for the area that I look at.

There is also the suburbs, about 15km South from the city, of Runcorn & Eight Miles Plains, where a there are quite a few established & new gated townhouses complexes. I do know a few people who rents in these places and they are quite well maintained and looked after.

If you want a townhouse investment, check out these two suburbs.

 

[Jacque]

Khnagu, how do I get to find the bargains? are there any buyers agents you can recommend as I am in sydney and the Internet is all I have to get an idea as to whats available ...

There was a Qld based Buyers Agent (Jude from sandcastles agency) but I haven't seen her on here for a while. Perhaps do a search and see what you come up with. Also check out realestate and domain as they list BA's in each state. Good luck!

 

[willair]

Li21,
why not try and run a simple add in sat morning courier mail.
in the property section wanted to buy ,and just see what comes in
that always tell you the real face value quickly,you can still buy
renovators,some with development end use,in Highgate Hill,Yeronga,
on small 600m2 for under 360k,a year ago these were in the 430k range
thats the funny thing about real estate when the small markets within markets
eventually fall,renovators and sideshow developers seem to all mysterously
simultaneously disapper..
good luck.
willair..

 

[markpatric]

Willair I have noticed Kangaroo Point has a shortage in rental properties but you will pay a premium there, apparently renters are lining up, so to speak.
I recently bought a mountain bike to get fit and discovered this is a great way to check out properties and R/E in the city areas, you travel around the place in no time and no parking problems, just an idea.

 

[sue78]

Hiya,

You can buy one of those Gregory's City of Brisbane maps from any petrol station. I think it's like $5. It's tiny but folds out into one big map. We got it laminated and stuck it to a wall in the office. My husband needs it for his work but it's sooo handy.

For your budget, I can give you a tip.....try Rochedale or Rochedale South or Underwood. You can get highset homes for around $230k to $260k. In terms of location, it's awesome. Hop on the Pacific Hwy to the CBD in 10 mins or 40 mins to the gold coast or there's also the Gateway that crosses there which will take you all the way to the airport and the Sunshine Coast. I really don't think it has reached it's peak yet. You have suburbs right next door i.e Mt Gravatt where the houses are $150k more and Eight Mile Plains, Kuraby where it will cost you $300k just for a block of land. Plus it's 5 mins from Garden City Westfield and you will probably receive a bit more rental for a house, no body corporate and better capital growth.

There's an estate around the corner from us in 8 Mile Plains where Ausbuild has bought out most of the blocks from the developer and re-selling the land at $280k to $350k with house & land packages starting at $700k. Rochedale is like opposite 8 mile plains on the other side of the freeway.

 

[MichaelW]

There was a Qld based Buyers Agent (Jude from sandcastles agency) but I haven't seen her on here for a while. Perhaps do a search and see what you come up with. Also check out realestate and domain as they list BA's in each state. Good luck!

Jacque,

DD1 is a buyers agent who is currently focussing on the Brisbane area and surrounds. He's active on this forum and well regarded by most people here it seems. I've exchanged PMs with him and once I've attended Steve Navra's structure course in two weeks time I'll be engaging him to buy me a couple of house and lands in or near Brisbane. So, I too am following this thread with interest...

Anyone recommend any areas where $450K-$500K will buy you an above median suburb house on a decent block close to amenities and not too far from CBD? You know, the sort of house that Peter Spann or Steve Navra might suggest (and the sort I've always felt would perform best over the long term).

PS Sue78, thanks for the heads up on Rochedale or thereabouts, I'll check it out...

Thanks in advance,
Michael.

 

[markpatric]

You will get a house in that price range just about anywhere in Brisbane, I would be careful if you buy through someone else and youve been led to believe different.

 

[grubar30]

What other areas can you recommend for my $230k 'ish budget?

www.realestate.com.au and www.domain.com.au

 

[grubar30]

try Rochedale or Rochedale South or Underwood. You can get highset homes for around $230k to $260k.

I’ve never quite understood these suburbs. They offer good-sized blocks with modest homes (3bdr low-set brick) in a laid-back, semi-rural type landscape. They’re located within fair distance to the Brisbane CBD, Gold Coast and major retail outlets such as Garden City, Carindale, Logan Hyperdome.

However, property prices have always seemed cheap when compared to surrounding areas such as Wishart, Eight Mile Plains, Burbank, Chandler, etc.

Is there some kind of bad history or stigma associated with these areas? It wouldn’t have anything to do with the koala freeway from the Goss years? The only thing I can think of is fairly poor public transport.