Brissy beachside property (south and north), bad time to buy

[dynamite]

What are peoples opinions?

Im interested in beachside from Cleveland to Dbay.

Is it a bad time to buy? Prices are high, but are they going to drop? My experience having grown up beachside in other cities says no, they may plateu but they wont likely drop.

But its a risk, the type of property I am looking at are between $250k and $350k.

I am looking to buy one for PPOR and soon enough another as neg geared investment.

 

[Brenda Irwin]

Hi Dynamite,

I'm not an expert (like Asy) but I don't think there's any chance the prices will go down.

Remember most anything will eventually double in price, be it in 5yrs or 20yrs.

Don't forget the laws of compounding growth. ie double $250k is $500k & double $500k is ONE MILLION DOLLARS.

Although not yet investing there, I particularly like the areas of Wellington Point & Wynnum/Manly in the south & Redcliffe (nice beaches) in the north.

Hope this helps
Brenda

 

[Kevin Hockey]

Originally posted by Brenda Irwin
Hi Dynamite,

I'm not an expert (like Asy) but I don't think there's any chance the prices will go down.

Although not yet investing there, I particularly like the areas of Wellington Point & Wynnum/Manly in the south & Redcliffe (nice beaches) in the north.

Hope this helps
Brenda

Expert like Asy, ok I'll go along with that one............ but nice beaches at Redcliffe.......... you need to get out more Brenda.

I would like to apologise now to all Redcliffe owners who may be on this forum, the Devil made me say it.

Kev

www.nundahrealestate.com.au

 

[asy]

Originally posted by Brenda Irwin
Hi Dynamite,

I'm not an expert (like Asy) but I don't think there's any chance the prices will go down.

Remember most anything will eventually double in price, be it in 5yrs or 20yrs.

Don't forget the laws of compounding growth. ie double $250k is $500k & double $500k is ONE MILLION DOLLARS.

Although not yet investing there, I particularly like the areas of Wellington Point & Wynnum/Manly in the south & Redcliffe (nice beaches) in the north.

Hope this helps
Brenda

ME? expert? nah! But thanks Brenda!!!

I have to say, I agree with Brenda, I love the areas she mentioned, also Shauncliffe, and Brighton.

asy

 

[Kevin Hockey]

Originally posted by asy
ME? expert? nah! But thanks Brenda!!!

I have to say, I agree with Brenda, I love the areas she mentioned, also Shauncliffe, and Brighton.

asy

I know what you are up to Asy.... you just misspelt it to prove your modesty didn't you. But you are right, Sandgate, Shorncliffe and Brighton are performing very well.

Kev

wwww.nundahrealestate.com.au

 

[ChrisOs]

Hi Asy,

When you say "I love the areas she mentioned, also Shauncliffe, and Brighton", what is it exactly that you love about those areas? Is it lifestyle attributes (i.e. it's a great place to live) or are you talking from an IP perspective (i.e. captial gains are good, return is high) etc.

Thanks,
ChrisOs

 

[asy]

Originally posted by ChrisOs
Hi Asy,

When you say "I love the areas she mentioned, also Shauncliffe, and Brighton", what is it exactly that you love about those areas? Is it lifestyle attributes (i.e. it's a great place to live) or are you talking from an IP perspective (i.e. captial gains are good, return is high) etc.

Thanks,
ChrisOs

I guess it is mostly the lifestyle, and the, um, ambiance, for want of a better word...

We have recently been looking at Brighton, it seems underrated, but I guess Kev, and some of the agents from closer to that area would be better to comment.

I don't really know the market all that well, so I won't comment there.

We did look at DBay a year or so ago, and you could still pick up a house for $120k, but I don't think that's the case any more!!

asy

 

[Kevin Hockey]

Originally posted by asy
I guess it is mostly the lifestyle, and the, um, ambiance, for want of a better word...

We have recently been looking at Brighton, it seems underrated, but I guess Kev, and some of the agents from closer to that area would be better to comment.

We did look at DBay a year or so ago, and you could still pick up a house for $120k, but I don't think that's the case any more!!

asy

In the past Brighton has been the poorer cousin to Sandgate and Shorncliffe, but I wouldn't suggest it is any longer under-rated. It offers what so very few properties can - waterfront, for the majority that is just a dream. It is all about lifestyle - go try to get fish and chips at Dougs seafood for Sunday lunch one weekend, the queue is a mile long. People are everywhere. Also the character of the area, beautiful rambling Queenslanders, elevated positions with hilltop homes with extensive views to Moreton Bay, Moreton Island and the Glasshouse Mountains.

I'm not quoting figures here, I don't have anything left here to sell and I have buyers backed up anyway. Besides returns in these areas are always going to be low because CG is sooo high.

D'Bay - personally I wouldn't go anywhere near it, regardless of return. Too many potential problems and I prefer character areas.

Have a great day, I'm off to have a look around Sydney for the day (in the rain).

Kev

www.nundahrealestate.com.au

 

[dynamite]

yep your all on the money in my opinion.

There seem to be a lot of buyers around for brighton at the moment, which I guess it is making the prices go up. But I think its still good value as it has much of the same qualities as the rest.

I have a property over in central redcliffe I am looking at, it is quite good value, and Im thinking of it as PPOR, its got views, not great, but good, if raised or extended up will be great. But its 1km back from the water, still walkable, but not ideal, however it is more centrally located to infrastructure, and is in one of the better streets for that part of town.

My question is, whilst it may not climb in value as some of the east of you know where properties, will it still have an average-good capital growth? (generalised opinions wanted)

 

[Kevin Hockey]

Hi Dynamite,

Whilst property remains in its current demand prices will continue to rise. Keep an eye on signs, whilst we continue to see 1 sign every 4-5 streets the demand will remain high. Once every street has signage for property for sale the market will turn. I did a sign count for my area a week ago and can't believe how few there is. A great sign for continued growth. We should see growth at least until the end of this year.

Kev

www.nundahrealestate.com.au

 

[Bmok]

Originally posted by Kevin Hockey


D'Bay - personally I wouldn't go anywhere near it, regardless of return. Too many potential problems and I prefer character areas.

Kev

www.nundahrealestate.com.au

Kev,

What potential problems are you talking about within Deception Bay? Why wouldn't you go anywhere near it?

Would appreciate your comments as I am seriously thinking of building a couple of IP's there soon.

Cheers,
Bmok

 

[chrislaw]

Well well, the people that you meet on this forum, Hi Kev, you sold me the 1/4 acre block at Boondall 6 months ago. I moved a 110 yr old workers cottage onto it (PPOR), will be renovating for quite some time, drop in 1 day.
Back to the forum Qs

Dynamite: I have some friends who just started last year, fulltime buying, renovating then selling in Redcliffe. They have done 1 at Margate the other at Clontarf, they are doing well and love it. I think your property should go well as their 2 were also about a km from the water
I took a drive around for a few hours on the "East of Oxley" ave 5 months ago and thought 1/2 of Brisbane chippys were working there, talk about houses getting renovated, never seen anything like it, so I would be hanging onto yours.

Bmok: 2 years ago a couple I knew wouldn't even live in their PPOR at Deception Bay, (no offence to anyone living there, just relaying a story). They had so much crime (bikers, prostitute and street kids) in their street, that they lived at Sandgate and rented it. Now this was 2 yrs ago so couldn't tell you how it is today. Also alot of lower wages people moved out of Redcliffe area when the renovations started and rents went up. Lots moved to Deception Bay for cheaper rents, again you would have to check the area today, not back then.
Since your thinking of building some IPs, could you tell me what you found out about the area, I would like to be updated.

Thanks Chris

 

[Bmok]

Hi Chris,

I'm looking at Deception Bay for Cap Growth. In the area that I'm considering, land was selling at about $50-55K in Oct '02 and now is expected to come in around $95K. That is good growth in my books and I hope that it will continue. I just hope that I haven't left my run too late!!!

When looking around the area, we found that Westfield are building a new shopping centre near the turnoff off the Pacific Highway near Mango Hill/ Griffin/ Murrumba Downs. It is just 15 minutes drive from where we are looking. The 1st stage is supposed to be completed around September with another 3 stages to be undertaken. When all 4 stages are completed, we have been told that this centre is supposed to be the largest shopping centre in the Southern Hemisphere (???). {Can anybody corroborate this?}

Our properties will be situated in between two schools (Moreton Downs Primary and Deception Bay High). All the properties in our area are new brick homes and are on the opposite side of Deception Bay Road away from the older properties from the times of my childhood.

It also only takes about 10 minutes of driving (within the speed limit) to be on the water at Redcliffe. It should be a relatively easy drive into Brisbane for those who commute, and is only a short distance to the surf at Bribie and the Sunshine Coast.

Cheers,
Bmok

 

[dynamite]

Thanks chris

Clontarf is a little far back from the water for my liking (most parts), but I have a friend who bought there and has had a huge return from doing nothing. I think its stigma has lifted and gone elsewhere.

I think a good sign is when you get $300000 houses (building cost alone) being built on the street. So I think if I can raise one level and improve the view, then render it should be a good PPOR.

 

[Kevin Hockey]

Originally posted by chrislaw
Well well, the people that you meet on this forum, Hi Kev, you sold me the 1/4 acre block at Boondall 6 months ago. I moved a 110 yr old workers cottage onto it (PPOR), will be renovating for quite some time, drop in 1 day.

Thanks Chris

Gidday Chris, thanks for letting me know it is you. I'd love to drop in sometime and have a look, thanks for the invite.

Hi Bmok, Chris pretty well covered my thoughts. As I said, it's not where I would buy but if it works for you, go for it.

Have a great day.

Kev

www.nundahrealestate.com.au

 

[dynamite]

Kevin

Whats the demand for Sandgate/Brighton at the moment?

I would appreciate your opinion, if you owned a property 300mtrs from the water, not in the aves, and you were in a position of not having to sell, would you

a. keep hold of the property
b. put it up for sale and demand top dollar

Thanks.

 

[Kevin Hockey]

Easy, keep it!!

Kev

www.nundahrealestate.com.au

 

[chrislaw]

Hi dynamite,

I am definitely with Kev on that one, Brighton should continue to grow and over then next 10 yrs I think you would be very happy with the CG. I would try to get either close to the water or up the hill with the views, they will cost more obviously but will outperform the others alot.
I take the kids to swimming lessons at the Sandgate pool every Wed and see heaps of ppl out, even now with the winter cold...I know Brisbane doesn't get winter, but we think anything under 17C is cold This will only increase over time as the lifestyle is very nice, the only thing lacking in Brighton is the cafe scene on the waterfront, this will eventually happen too and then watch the prices go up.

Chris

 

[dynamite]

Your right Chris

The one thing that is missing is a descent Cafe and or resteraunt at the bridge end of the parade.

Something else, I think the area needs an urban renewal program, just to tiday up some of the roads. What would a hairdresser say "you have beautiful curls, why straighten when all you need is a trim", ok thats a guess as to what one would say.

Have you had a look at the place near the petrol station?

 

[chrislaw]

dynamite,

yeah an urban renewal would just top it all off, better stop the suggestions, I haven't got a place there yet!
I haven't seen the place near the petrol station but will take a closer look next week.
Just on the subject, a friend at work wanted to extend settlement by 2 days on a house at Brighton last month, they said no, he lost the buy as they had another contract on it for more. My friends that reno in Redcliffe had 2 contracts on top of their buy if they blew the date, 1 for $10k more, other for $15k more, must make you happy that you already have equity and demand before you even start renoing.

Moral: Got to have the $/financials ready for opportunities.
Unforetunately I'm still working on the $ but hopefully won't be long now.