Investing in Brisbane / Lota. Good or Bad ?

T

triton07

Hi to all members,

As you can see it is my first post & I would firstly like to say “Hello” to all members on this great forum. I have been reading a lot of threads on this forum and found them interesting, so I decided it’s time to become a member myself. This forum feels like being at a seminar with everyone sharing their knowledge & experiences, which a think is great, god bless the internet.

I have been doing a lot of research for purchasing an IP in Brisbane, and the suburb that has caught my eye is “Lota”, a bayside suburb. Living & investing in Sydney, my knowledge for Brisbane suburbs is minimal.

Are there any members that could give me any advice on “Lota”? How do you think it will perform in the long term for CG?

I'm planning to purchase a house on a 405 sqm land, if possible under market value.

Any information would be appreciated.


Cheers:)
George
 
Anyone?:( Or there aint anyone that has any useful info about Lota?

Oh well, looks like I will need to visit the suburb & check it out myself. :D
 
Hi triton07 and welcome. Don't worry about the lack of replies just yet.

While there are few of us from Brisbane here, I only know my very local area and have no idea about Lota. In fact, I would have to get out the refidex to find it, even though I am on the south/east at Coorparoo, so give it a bit more time until someone reads your question who has some local knowledge.

Wylie
 
I live in bayside about 25mins from Lota. It is adjacent to Manly which is considered a high profile waterfront suburb and Wynnum, also partially on the water. There is a gorgeous waterfront esplanade through Wynnum/Manly which gets very popular on the weekends with locals, visitors and cyclists stopping for their coffees (I am one of those!). Lota has esplanade frontage also but hasn't been developed to same extent yet. Train stations in Lota, Manly and Wynnum, reasonably short ride into city but the peak hour traffic is hideous if you drive!! I have considering Lota for IP, ideally should have bought a few years ago before the prices jumped up - hindsight's grand! Allotments are getting smaller down that way, lots of 400sqm'.
 
alexlee said:
Just had a look on Google maps. Seems pretty close to the airport? Any noise issues?
Alex
Click to expand...

I live in Wynnum, a few suburbs closer to the Airport and we have no noise issues at all.

We can't wait to get out of the area because of

There is a gorgeous waterfront esplanade through Wynnum/Manly which gets very popular on the weekends with locals, visitors and cyclists stopping for their coffees
Click to expand...

Used to be so much quieter and pieceful.

Dave
 
Elkay said:
It is adjacent to Manly which is considered a high profile waterfront suburb and Wynnum, also partially on the water. There is a gorgeous waterfront esplanade through Wynnum/Manly which gets very popular on the weekends with locals, visitors and cyclists stopping for their coffees. Lota has esplanade frontage also but hasn't been developed to same extent yet. Train stations in Lota, Manly and Wynnum, reasonably short ride into city .....................
Click to expand...

This is exactly the reason why I had Wynnum/Manly/Lota on my list and ended up buying in Manly earlier this year. Coming from Perth, esplanade prices with water views in Lota seemed very cheap!!!

30-35 minutes on train to Brisbane CBD is a bonus.

Good luck.

Joe D
 
Used to be so much quieter and pieceful.

Dave[/QUOTE]

I can understand that! I've seen the same thing happen where I live but not to the same extent given that it's not a 'drive through' suburb. Where would you move to though, not many places nearby with the same great climate and proximity to the city?
 
triton07

We've lived 'next door to' Lota (in Birkdale) for the past 12+ years. I can't give you up-to-date statistics, as we are not currently looking to invest in that area - but here's a bit of general info that may help.

Lota did very well in the last boom (2002 and 2003), and had one of the higher median price increases in the Brisbane area. It's a very 'mixed' area - even though it's a bayside suburb, you don't get much waterfront land like further north in Manly and Wynnum - there is a relatively small stretch of 'absolute beachfront' along the Esplanade, and much of the remainder of the waterfront area is mangroves. In the southern area, there is the railway station (this used to be the 'end of the line' until about 20 years or so ago, and there are a number of ex-railway houses in this area). It's not really that close to the airport and there is relatively little aircraft noise - the big jets do not fly over the area, just smaller turbo props, and then only in certain conditions (that's 'from the horse's mouth' - hubby is a pilot). The homes close to the water are very expensive, and I doubt that you would find any property in the suburb which could be classified as "under value". An acquaintance has bought a couple of properties in the southern part of the suburb and has done very well. But, as I said, it's a real mixed bag - do your research very carefully.

Cheers
LynnH
 
There was no reply's at all last night & come back this morning I find the thread planked with reply's:eek:. Thanks to all members that have replied & shared some information on Lota.:)

What I've found out those suburbs that have performed very well in the past years, is that they will always continue performing well in the medium / long term.

For example is Sydney eastern suburbs, it always seems to be moving forward & no turning back, nor stopping. Now I know that Lota cannot be compared with Sydney eastern suburbs, but having Manly as a neighboring suburb to Lota, I think it will support Lota making it very popular.

Once again, thanks to all members for replying to my question.


Cheers:)
George
 
triton07 said:
Now I know that Lota cannot be compared with Sydney eastern suburbs, but having Manly as a neighboring suburb to Lota, I think it will support Lota making it very popular.
Click to expand...

George

There is a world of difference - in so many ways - between Manly/Wynnum and Lota. IMHO, as a 'local', I really don't think the suburbs can be compared with each other.

Cheers
LynnH
 
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