Help- North Brisbane area for second IP?

[Grasshoper]

Hello all,

After researching for what seems like forever I'm ready to purchase my second investment property.

I am from Sydney but am looking to purchase a house at the 350k mark in the northern brisbane area. With the intention to do a cheap reno and rent it out and hold. and repeat.

Suburbs which i have narrowed my search to are Zillmere, Geebung, Banyo, Taigum and Deagon.

Does anyone have any opinions on these suburbs, any current purchases people have made, things i should watch out for or even another location that suits my intentions and price?

Thanks in advance, every bit of information will help.

Thanks again.

 

[Encarta]

Hello all,

After researching for what seems like forever I'm ready to purchase my second investment property.

I am from Sydney but am looking to purchase a house at the 350k mark in the northern brisbane area. With the intention to do a cheap reno and rent it out and hold. and repeat.

Suburbs which i have narrowed my search to are Zillmere, Geebung, Banyo, Taigum and Deagon.

Does anyone have any opinions on these suburbs, any current purchases people have made, things i should watch out for or even another location that suits my intentions and price?

Thanks in advance, every bit of information will help.

Thanks again.

I don't know the north side very well but when you start to make offers keep us updated as too competition, id like to know how hot it is up there.

I missed it the other week but my workmate was telling me channel 7 did a property snapshot on TV and showed people queuing for houses in Logan, not sure if anyone else saw this?

Good luck anyway grasshopper

 

[jerrybee]

^^ my cousin said they had to do crowd control in one place he went to see at Sunnybank Hills. It wasn't a nice place but it was listed for about 130k cheaper than what it was worth. Either a clueless agent or a cheap tactic. I'd go with the latter. So I guess this doesn't really count, as I doubt it would have attracted so many without the silly price.

 

[Encarta]

^^ my cousin said they had to do crowd control in one place he went to see at Sunnybank Hills. It wasn't a nice place but it was listed for about 130k cheaper than what it was worth. Either a clueless agent or a cheap tactic. I'd go with the latter. So I guess this doesn't really count, as I doubt it would have attracted so many without the silly price.

I have heard Sunnybank is hot or thereabouts, also Stretton, one property in particular with 17 offers and a crowd of 100 a few weekends ago, must also have been cheap maybe but I don't know that area.

 

[jerrybee]

I have heard Sunnybank is hot or thereabouts, also Stretton, one property in particular with 17 offers and a crowd of 100 a few weekends ago, must also have been cheap maybe but I don't know that area.

No that's expected in those two areas. Brisbane as a whole isn't performing anywhere near as well as Sydney but there are certain markets like Sunnybank that are insane right now. I'm expecting a 200k gain on the one I bought 12 months ago (granted, I bought it for about 100k under market).

 

[Grasshoper]

Jerrybee and Encarta. I appreciate your inputs and will update as to the status of the north brisbane market.
But could you please try to keep the thread on the initial topic posted.

Cheers guys

 

[Nth Brisbanite]

The 5 suburbs you mention would have very few houses even under 400k. Definitely units available in those suburbs. You need to look a lot further out to places like Kallangur, Strathpine and Petrie to even get a reno for 350k.

 

[allegria]

The 5 suburbs you mention would have very few houses even under 400k. Definitely units available in those suburbs. You need to look a lot further out to places like Kallangur, Strathpine and Petrie to even get a reno for 350k.

Agreed. Try Bray Park & Lawnton too.

 

[kitdoctor]

I posted this elsewhere in another thread.

It's a shame you don't have a bigger budget, say just under $600,000 to get you into the <12 km from CBD areas on either the north or south side.

I like Carina on the south side <10 km from CBD but stick to the good spot north of Stanley Road and south of D'Arcy Road. Dominated by post war chamfer board homes - ripe for modernising but still have character. Up about 7-8% last year according to API. Close to big shopping centre, Bunnings, schools, Gateway Arterial etc.

On the north side good old Wavell Heights. The are some low areas and some where land has been reclaimed - just north of Watcombe Street where a creek used to be. Equally there are homes with CBD views but expect to pay big $. Years ago they couldn't give these homes away - how times have changed. Close to Nundah/Toombul and Chermside which both have big Westfield shopping centres.

I also like Keperra up 10-11% last year according to API. Has a train station. It's a mix of older chamfer board homes but there's also an '80s estate there on Samford Road with solid brick veneer homes and acreage further out on Samford Road.

Anyway I've said enough.