"Brisbane: Mt Gravatt, investment potential?"

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From: Dan D


Hi all,

I'm looking at purchasing an IP in Mt Gravatt. The prices are still good so the place looks attractive. It is rich in post war timber houses which are in high demand. I've not yet done the low down research on past capital growth, though from anecdotal evidence it has not been good. Friends of friends have lost money last year on a property bought several years ago. ( not bought as investment, and they had to sell due to relocation interstate).

My current perception after my first ever visit today is that the market is currently strong. My concern is that it might cool off in the not too distant future and a loss could be incurred.

I'd appreciate others on this list who are familiar with this area, sharing with me their thoughts about its potential.

I'm still new to property investing ( not yet bought the first one) so am rather cautious ( short of being stricken by paralysis by analysis, or so I think!).

Thank you.

Dan.
 
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Reply: 1
From: Denise Macadam


Hi Dan
I am a Brissy person but do not live or invest in the Mt Gravatt area - i would do a lot of research before buying Ip there. This is only my personal opinion others may have done well - there is still money to be made in the Camp Hill/ Cooparoo area, if you wish to look at that area - and the prices are a little more reasonable, but not as cheap as Mr Gravatt. For the 7 years I have been in brissy - the M.G. area has had no appeal for me for investment - stressing again only my personal opinion - if you find a fantastic buy in any area, you need to look seriously at it. I stay in my area of Morningside, Hawthorne, Bulimba, Balmoral. has continued to show great C.G. but not cheap to buy into - Have fun in your travels and good luck with the IP'S.
best regards
Denise
 
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Reply: 2
From: Gunna Doit


Hi Dan
I too am a beginner, but am learning lots. If you read Jan Somer's book "More Wealth from Residential Property" it will offer you some very good advice on how to choose a good area. Hope this helps.
PS. Love your last paragraph! Know how you feel.
gunna
 
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Reply: 2.1
From: Aaron Dwyer


Having lived in Mt Gravatt for about 5 years now (on and off) the area is great for access to all important criteria.

The increase in price (I think) is due to people being forced out (price wise) from buying in Greenslopes and Holland Park. Next stop Mt Gravatt here we come.

You're yield will be minimal if you park 200,000 and expect 200-210 in rent on an older property. Not much new in Mt Gravatt.

The PPOR I'm in now and just about to rent will fetch 225-235/wk rent and valued at 210000. 3brm stucco fully renovated. Picked it up 15mnths ago for 130000.

There are still opportunities in Mt Gravatt but they are getting slim.

I love the area and it's only getting better.

Good luck.
--
Aaron Dwyer
~ To know and not to do, is really not to know at all.
 
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Reply: 2.1.1
From: The Wife


I got into Mt. Gravatt a couple of years ago now, so today I am reaping the benefit, I tend to agree with Aaron, the deals on the ground are running thin. I also saw some townhouses on my last trip up ( 4 weeks ago) that I thought were way over priced.

Good Luck

TW
 
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Reply: 2.1.1.1
From: J Parker


Hey Nivia! Welcome back to the forum! Hope all is well with you!

My hubby grew up in Wishart (near MG) and has a natural bias, but he believes (as I do) that those suburbs are currently experiencing the ripple effect of price hikes further in towards the CBD. Areas like Coorparoo and Camp Hill that are out of people's price brackets have been left for Greenslopes and Holland Park. These, too, have experienced terrific growth and so the move further south goes on... to Mt Gravatt. In my humble opinion, it can only keep going, but who knows?

As long as your return is good and you can afford to keep the property (try to get lower maintenance places like brick) then cap growth will happen. Who knows when and how fast is anyone's guess though.

Certain areas of Brisbane have been so flat for so long and it's only in the last 18 mths- 2yrs that prices have increased with any real excitement. I reckon it's a great place to invest, but then again, I like Brisbane so I'm biased anyway!
Happy house hunting!
Cheers, Jacque :)
 
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