Cheap buys with good prospects

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daz1979h

Hi All,

Looking to buy another IP and have short listed a few of the cheaper suburbs around our capital cities. Already some of these markets have started to move,but I was just interested in everyones opinion on the future of these suburbs and whether the ripple affect will improve prices more once inner suburbs get too expensive.
These suburbs are: Deception Bay (QLD)
Logan Areas (QLD)
Goodna (QLD)
Salisbury (SA)
Thanks
 
First off Daz19769h welcome to SS, this being your first post.

Based on your DD conducted of these areas what does that indicate?
 
I like Logan over Deception Bay. SA southern subs over salisbury. Goodna i think there a few properties built over old mines which is causing probs ? might want to look into as i am not 100% sure.

Also in the similar bracket can look at Frankston and Rockingham
 
The suburbs you list have started to move over 2 years+ ago so I wouldn't consider as "just started".

Have you also considered Redbank Plains/Red Bank/Collingwood Park/Bellbird Park?

In my opinion they offer a bigger margin for profit compare to Logan.

And Goodna from what I can gathered is a rough area so need to be careful where you pick.
 
Are there any parts of Goodna that weren't flooded in 2011? I think the whole area is dangerous given the proximity to the river.
 
Yeah thanks guys.I actually thought Goodna was a bit of a dodgy area after further investigation.
I will check out the other areas that you all suggested.Trying to spend around the $250k if its possible with a reasonable yield.
 
Yeah I knew someone that had a place in Goodna and it was hit by the flood badly. Coupled with the bad rep in terms of crime...well let's say it's not where I'd be looking!
 
daz1979h said:
Salisbury (SA)
Click to expand...

I'll comment on this one since i know it better than the others in your list. I have looked at and considered the other suburbs on your list in my own buying (and even had some offers in).

Salisbury has a few suffixes which vary a bit. Salisbury North is the "worst" of them, but perhaps the best in terms of investing. Properties here are generally cheap, high yielding and sub dividable. Sometimes its also worth getting ex state housing properties that are run down to renovate, too. It has good access to shopping centres and hospital. The other Salisbury suffixes (Park, Heights, etc) generally don't present as good investment opportunities to be honest, because their prices are fairly high and the same money gets you into some better suburbs.

Other suburbs in the same post code are Paralowie and Brahma Lodge (a little bit dodgy). Paralowie will do well long term as has quite a longstanding owner occupier population base as never really contained much / any state housing.
 
Prop can you tell us why you believe Salisbury is a no.
Edit okay just reread your post and I assume you think Salisbury isn't a good option in the short term, can you elaborate?
 
sumterrence said:
The suburbs you list have started to move over 2 years+ ago so I wouldn't consider as "just started".

Have you also considered Redbank Plains/Red Bank/Collingwood Park/Bellbird Park?

In my opinion they offer a bigger margin for profit compare to Logan.

And Goodna from what I can gathered is a rough area so need to be careful where you pick.
Click to expand...
Goodna carries a bit of stigma due flooding but can be okay if you are careful and know exactly where you are buying, I personally wouldn't touch Collingwood Park due to subsidence and a whole street being affected at one stage.
 
Goodna has a hill. However to access the properties on top of the hill, you first have to get past the low-lying cow paddocks (read flood plains) at the bottom of that hill.
 
Cheers D.T. Good info on Salisbury as I don't really know the area. I've heard promising things about It though in terms of future infrastructure and so on. I might look into it.
 
All these areas would be considered low socioeconomic areas that have some significant issues. I am more familiar with the QLD locations than Salisbury though.

Logan, Deception Bay and Goodna have historically been high crime areas with very poor social infrastructure. Logan has a high Islander population and there is some cultural tensions within. Deception Bay has a high Dept Housing population and Goodna has always been the worst of what Ipswich has to offer.
In saying that there is potential in each.

However as better areas nearby start to rise and therefore price some buyers out then these outer areas begin to rise. Like any 'rough' area a lot of research is needed as it takes just one bad neighbour in the street to ruin the whole thing.
 
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