Brisbane - thoughts on these suburbs

[UrbanPlanner]

I'm flying over to Brisbane this weekend to house hunt and have narrowed my search to these suburbs, based on budget (around $400k) and criteria (min 3x1 with land in tidy condition - no immediate Reno needed):
Salisbury, mount gravatt (incl east and upper), Stafford and Stafford heights, wavell heights and further out Zillmere and wynnum.

Can anyone offer any insight or opinions on any of these suburbs? Will be for IP

 

[twobobsworth]

Low 4's may be a struggle in most of those inner suburbs. Zillmere is not that far out, Wynnum is a different kettle of fish.

 

[Cam1]

Salisbury is hot atm! Searched houses up to $450K & 8 out of 12 are under contract.

Plenty for sale under that price in neighbouring Rocklea. However, best to check the FloodWise Property Report for properties in Rocklea. Some are flood free, some highset houses had water underneath them in 2011 & some were flooded inside. The official height of the 2011 flood in Rocklea was 9.2m ASL.

 

[wobblysquare]

Brisbane

at that level only wynum, salisbury and mt gravat will be in reach

 

[UrbanPlanner]

Thanks for the replies. Add Moorooka to the list, any thoughts on the area between Ipswich and Beaudesert Road? This would likely be for units though as a house would be out of our price range.

 

[Tim86]

3x1 without needing a reno, in a good position for $400k

That would be pushing it. It's a very popular price bracket, with very popular demands.

I would guess you would need $20-50k more than that and to be super quick in order to secure something like that right now.

However change your demands a little, maybe something that needs a bit of work, and you'd have better luck. But if you want what everyone else wants where everyone else wants it, then chances are the demand is going to drive up the price.

 

[Tim86]

Salisbury is hot atm! Searched houses up to $450K & 8 out of 12 are under contract.

Agreed Salisbury is heating up. Houses have been selling within 7 days usually. I know one place that got split into 4 blocks, all 4 blocks sold within 2 weeks. And the house on that block hadn't even been knocked down yet.

Oh well works for me, all 4 of my houses are in salisbury.

 

[Roachy]

UP,

I monitor Stafford Heights and its surrounds on a weekly basis. There are a few buys around these suburbs but not many. You can definitely still pick up approximately four houses within your bracket.

I'm a big fan of Zillmere and think it will be a strong investment if made soon.

Enjoy and good luck.

 

[Tim86]

UP,

I monitor Stafford Heights and its surrounds on a weekly basis. There are a few buys around these suburbs but not many. You can definitely still pick up approximately four houses within your bracket.

I'm a big fan of Zillmere and think it will be a strong investment if made soon.

Enjoy and good luck.

I agree, northside seems like better value than some southside locations.

 

[wobblysquare]

Marooka

If you like floods and industrial areas, then sure add Marooka to the list.....Before you buy make sure you at least do a flood report !!.

There are reasons why some areas are cheap...flooding and industrial zones being two reasons...

 

[willair]

There are reasons why some areas are cheap...flooding and industrial zones being two reasons...

A very simple way to look at it is just ring up Suncorp and ask if they will insure the property in any of the flood areas,,btw most of Moorooka did not flood,Rocklea did in a big way but there is small limited areas a few streets that were not flooded some lmr blocks,,Dutton Park also was flooded Yeronga,West End also another item too look at when it floods again as it will..

http://media.crikey.com.au/wp-content/uploads/2011/01/kevin.jpg

 

[Tim86]

If you like floods and industrial areas, then sure add Marooka to the list.....Before you buy make sure you at least do a flood report !!.

There are reasons why some areas are cheap...flooding and industrial zones being two reasons...

Moorooka doesn't really flood. I think one street, Muriel Ave has a couple of houses that can get flooded, but even those weren't flooded in the recent brisbane floods. And it's industrial area is way away from all the residential area and the shopping area's etc...

It's kind of funny how one house will flood in a suburb, and then people will conclude that every house in the suburb has flooded.

 

[eeew]

I agree, northside seems like better value than some southside locations.

There is more land to develop inner-mid north than inner- mid south east.

 

[Richard Feynman]

How'd you go up there?

I had my eye on the area earlier in the year.

 

[UrbanPlanner]

According to the flood maps the water line barely made it over to the east side of Ipswich Road in 1974, how accurate are these? The properties I looked at were closer to Beaudesert Road..

Richard, still tossing up between a newer townhouse (3x2.5) in Moorooka or an older (but tidy) house in Zillmere/Salisbury for slightly more. Moorooka is appealing because the ones I looked at could potentially be had for $30-$50k less than the current owners paid for them a couple of years ago, have better yield and would involve less maintenance which is a plus for me being on the other side of the country..

 

[UrbanPlanner]

UP,

I monitor Stafford Heights and its surrounds on a weekly basis. There are a few buys around these suburbs but not many. You can definitely still pick up approximately four houses within your bracket.

I'm a big fan of Zillmere and think it will be a strong investment if made soon.

Enjoy and good luck.

Roachy, what do you think a renovated 3x1 on 600m2+ would be worth in Zillmere? Piece of string question i know but looking at previous sales they all suggest $350-400k (unrenovated), however the ones on the market are asking more? Is this a sign of the times i.e. growth phase and the next round of sales will be in the $400k + range perhaps?

 

[thokkotu]

Hello

Since I went through a similar exercise around 6 months ago, and i have learnt a lot from this forum, let me share what i gathered.

I visited Brisbane 2 times in June, July this year and was about to buy a place in Sunny Bank which i missed out by a whisker, was a decent home for around $375. i next started looking around Salisbury, Acacia Ridge, etc from the South side of Brisbane.

I found around Acacia Ridge, Salisbury, etc trucks, big ones, people less formally dressed, generally a factory employed type of people and what looked like recent arrivals from a distant land who have taken the scenic route to arrive (no offense intended).

It was then that i travelled to Enogerra and surrounds on the north side and found that to be much more appealing. Less trucks, a bit more like inner parts of sydney.

I finally bought something in Everton Park, and if this was a good move only time will tell.

 

[Tim86]

Hello

Since I went through a similar exercise around 6 months ago, and i have learnt a lot from this forum, let me share what i gathered.

I visited Brisbane 2 times in June, July this year and was about to buy a place in Sunny Bank which i missed out by a whisker, was a decent home for around $375. i next started looking around Salisbury, Acacia Ridge, etc from the South side of Brisbane.

I found around Acacia Ridge, Salisbury, etc trucks, big ones, people less formally dressed, generally a factory employed type of people and what looked like recent arrivals from a distant land who have taken the scenic route to arrive (no offense intended).

It was then that i travelled to Enogerra and surrounds on the north side and found that to be much more appealing. Less trucks, a bit more like inner parts of sydney.

I finally bought something in Everton Park, and if this was a good move only time will tell.

Acacia Ridge has main roads going through it, so lots of trucks. Salisbury has main roads going around it but not through it. So you don't actually get trucks in the suburb and the suburb is nice and quiet. But yes northside is nice. Traffic is horrible though.

 

[willair]

. Moorooka is appealing because the ones I looked at could potentially be had for $30-$50k less than the current owners paid for them a couple of years ago, have better yield and would involve less maintenance which is a plus for me being on the other side of the country..

That would be right,but what to look out for is the land area per block,they may be small blocks different zoning,from the ones next door or on each side and if they get built out on each side into multi level walk-ups then it may well stop any future cg..imho..

 

[Roachy]

Roachy, what do you think a renovated 3x1 on 600m2+ would be worth in Zillmere? Piece of string question i know but looking at previous sales they all suggest $350-400k (unrenovated), however the ones on the market are asking more? Is this a sign of the times i.e. growth phase and the next round of sales will be in the $400k + range perhaps?

Renovated - 380 - 420

Unrenovated - 330 -350

I think Zillmere will grow due to Chermsides amenities and it being hailed as the next city within Brisbane. I think you will find that all suburbs around Chermside will go up in value in 2014. By how much, who knows?

If I wasn't searching for positive gearing I would have bought in Zillmere. Instead I bought in 'the Switch'.