Brisbane riverfront apartments

[Craiginqatar]

I'm looking to buy another IP. As the Brisbane market has come down so much, is it a good time to buy a riverfront apartment (non flooded areas)? There seem to be quite a few owners who want out & big reductions, but the returns on some places seem good. If the market does not drop considerably more do you think you could obtain good future equity returns at a $580k price point?

If not riverside, any suggestions where might be good in Nth Brisbane. I'm after good value at 580k or less.

 

[rchad]

If you are looking at the large new Northshore developments it is preferable to look at Harbour 1 or Harbour 2 as they are situated on quieter Harbour road and Hercules street rather than the last tower being built ie Riverside; reason is Riverside is right on busy Kingsford Smith Drive which will drive return down and the views from there will not have river views, avoid Hamilton Reach as it is right underneath the flight path of planes landing with constant noise from aircraft (we counted a ridiculous amount of planes going over when we tested this theory sitting there for an hour); I prefer and have more of these assets ie boutique apartments less than 15 and there are several about; check out Ray White Projects too at Bulimba as they do some nice work there; also there are many distressed sales in Brissy now with people unable to settle from over conservative valuations on new builds so that could be an option if you have sufficient deposit