Ellengrove QLD

[martylu]

Hi Guys,

I am new to the forum, and looking to buy an ip in Ellengrove. I noticed the houses there are quite cheap, it would be cashflow positive to buy in, and it is only a short distance to ForestLake, maybe potential for increase in the future?

Did anyone invest there and appreciate your thoughts on this.

Cheers,
Marty.

 

[james start]

Lots of land out there, id be looking closer in as brisbane is fairly sluggish ATM,

If I was to buy out that way I would be looking closer into red bank plains plaza and looking for a dev site, or in near browns plains shopping district ie, high crest or bennet streets

 

[Heinz57]

I disagree, lots of well built properties on large blocks close to positively geared I should think. Ex housing commission. Also look at Gailes but only East of Newman Rd to avoid flood plain

 

[martylu]

Thanks for your comments. Redbank plains is developed already and can see a lot of new houses. The reason I picked ellengrove is there are still a lot of lands there but not much developments, now they have new townhouses closed to forest lake, and the plan is to develop Ellengrove n Carole park to more developed residential areas, so it may be some potential for price increase in the future?