Houses close to or in Brisbane Metro < $300K

H

Highlygeared

Hi all

can anyone suggest a few areas to look at or under $300K for a HOUSE (with land) in Brisbane or within daily commuting distance...say 40 mins?

Whilst I can see a few suburbs, not sure if its blighted with significant crime rates, industrial wasteland ie cheap for a reason.

I'm from Syd and flying up to have a look at myself but need to concentrate efforts in a very small handful of pockets.

Thanks
 
I know of a property around $250k that needs a good clean up. I haven't done any DD on it so totally up to you to decide. I'll have a look for it later and PM you.
 
Highlygeared said:
Hi all

can anyone suggest a few areas to look at or under $300K for a HOUSE (with land) in Brisbane or within daily commuting distance...say 40 mins?

Whilst I can see a few suburbs, not sure if its blighted with significant crime rates, industrial wasteland ie cheap for a reason.

I'm from Syd and flying up to have a look at myself but need to concentrate efforts in a very small handful of pockets.

Thanks
Click to expand...

Are you a cashflow or growth investor? I have a place in Kingston, thinking of offloading it, not because it is a bad area or anything, I just may be overcommitted and trying for a family too. I bought 18 months ago and prices have reduced since then. I purchased for 272k - it was listed for 295k and was one of the chepest going around. There are now heaps in this price bracket. Woodridge is one of the worst suburbs in Logan according to reputation (very low socio economic area) and Kingston borders it. I have not had a problem in this period. The same tenant, pays 4 weeks in advance. He was on workcover, i got him a job and upped his rent.

The reason I bought down there in the first place was to change my strategy from growth to cash flow and this area ticked the boxes. I only rent it for $300 per week but if you do your due diligence you will be able to find a place for 270 that rents out for 340. I nearly bought one but decided against it as I thought there was too much risk - the person was on benefits with four rough and tumble kids and was wanting to stay there so pays more money. Weird but true, she cant get a house otherwise.

An agent told me that people prefer kingston over logan central and woodridge because it is safer? i dont know, I dont live there but I took it on board.
 
Goodna could be Ok? i was looking at this area too 18mths ago, not sure what prices are like are now. Lots of new freeways out that way now.
 
Thanks Tin Tin

will have a look at Goodna.

Re: Logan and surrounds, yes that's what makes me cautious about investing there and the fact that I live interstate adds to that caution. I do have 1 prop in a so called 'rough' area but no problems there yet and its gentrifying at a rapid rate. I don't really want to have a problem property within my backyard let alone interstate.
 
I have bought two low set units in Logan central, near station in last 6 months. Good yield and train, shopping centre etc only 22 km from City price was 165 and 175 K each. I found so cheap near city giving more than 7% rent. Visited the area b4 buying sow lot of low socio people around there. But I still liked it. Thinking to buy one house arround there. If we check past history it has grown up up to 30% in some year. Any way it is not rigional or mining town so I found good for investment. See low socioeconomic area like Lakemba NSW 2009-2010, Melton VIC 2008-2011, Elizabeth SA in 2007-2008 how they gone up in value. I believe in cheaper properties with high yield.

Thx
 
How about something like this?

An agent I was speaking to yesterday mentioned she's about to list one in Tingalpa for low $300's.. considering it's proximity to the cbd compared to Logan, it would be my choice..
 
A quick look on re.com tells me that a 3bed, (cheap but nicely) renovated kitchen & bathroom should rent for at least $370/wk. SQM vacancy rate says 0.9% :cool:
 
I have one in Woodridge 3 bed rents for 360 per week and have had no issues so far. I was looking for another down there until my plans changed.

Redbank may also be an option

Brian
 
Good question.. I can't say for sure, but pretty confident it's not under the direct flight path were the planes are low - it's far south enough. I imagine it would be similar to Camp Hill - slight noise, but not enough to affect values.
 
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