Growth potential for Corridor betw Bris and Gold Coast

[Sylvia]

Firstly about me:

This is my first post, and I am a newbie. I have been reading the forum for days now and am really excited about getting more involved. I currently live in Chicago, so there is a time difference to consider re postings.

In particular, I have been looking at property near Springwood south of Brisbane. There is a lot happening re infrastructure, which leads me to think that there is a good chance for growth.

Does anyone have any opinions about this area and also about how close a property has to be to new development to benefit from it?

Any advice is gratefully received!
Sylv

 

[gr137]

I don't know about springwood. it is on the hwy south to gold coast. i have heard that yatala - a bit further south may be the go for industrial development. the land is cheaper than brisbane industrial and you have equal access to brisbane and gold coast. Also the thing with industrial is that yields tend to be arond 10% in lieu of 4-5% for houses say in springwood. it's a thought only - i need to investigate the pros and cons further myself.
has any one been down this track in investing?

 

[BUNDY]

Sylvia,

Are you looking for residential or commercial property in this area?

BUNDY

 

[Sylvia]

HI Bundy

Initially residential....but i wouldnt knock back a commercial opportunity. Just thinking that as Brissie is over proced and there is investment happening in this area it was worth a look..wanted to se what people thought

Do you know much about the area?

Sylvia

 

[COOPS]

Hi Sylvia

I'm new on the site also but have been investing in property for 2 years. There are some good areas around Springwood for investment but properties with good returns are getting hard to find due to demand increasing in the area. We purchased in a good little estate in Underwood (the other side of the highway from Springwood) last August - decent sized 3yr old brick and tile home for $195,000 and are getting 6% gross return with good CG so far. The house is fairly basic but a good layout and could be easily smartened up at minimal cost with paving, a pergola and some landscaping. It's surrounded by homes ranging from $240,00 to $360,000 so has plenty of potential for CG. The area appealed to us because of its location. Good access to major highway in all directions as well as close to all facilities. Good luck.

 

[Sylvia]

Thanks COOPS

That is the kind of thing I've been looking for.

Have you (or anyone out there) had any experience with retirement villages?

Sylvia

 

[geoffw]

Retirement villages have been mentioned before, I'm sure, but I can't find the mention.

I think the conclusion was:

1. Good cashflow- possibly even guaranteed
2. Limited appeal for resale
3. Purpose built for retirees, so not of general use (eg, perhaps no kitchen)
4. Capital growth perhaps limited by answers 2 & 3.

 

[Fester]

Do a search on "Pensioner units".
Bit of info there.

 

[Brenda Irwin]

Hi Sylvia, Get a subs. (if you can) of the Australian Property Investor Mag.
I have been in IPs for 5yrs (starts slow but exciting now). RE agent recently commented a rare happening in Ipswich (west of Brisbane) where the rental return is keeping pace with property prices.
Cheers, Brenda Irwin