Looking to buy a blue chip IP in Brisbane

Hi We are looking to buy a blue chip IP in Brisbane to set up the backbone of our investments going forward.

Does anyone have any tips?

Looking for good equity growth and good yield with the intent to rent and hold.

Happy to do some renos if need be.
Up to a $500-550 value max if possible a lower spend to give us options for a potential 2nd property soon after.

You tips, areas and any advice are much appreciated.

Thanks :)
 
Are you looking for a "blue chip IP" or an IP in a "blue chip suburb"?

There is a big difference between the two, and with that budget I cannot see you getting much in a blue chip suburb.
 
You could have gotten something in that price range literally 6 months ago. I bought in a prime part of Sunnybank Hills for 540k last Dec.

Another 6 months before that a similar house to mine sold down the road for 480k.

Now they're slowly approaching mid 600k, e.g.

3/1/2, 663sqm land, sold for 586k just three months ago:
http://www.realestate.com.au/property-house-qld-sunnybank+hills-118997691

And this one which is literally down the road from the one above just sold last week for 666k...cash offer, unconditional:

3/2/2, 684sqm land:
http://www.realestate.com.au/property-house-qld-sunnybank+hills-119860961




I think 700k will be the average in most blue chip locations by summer. Based on the last 18 months of data it seems to be going up about 8-10k a month on average in blue chip locations. People who look broadly at Brisbane stats are missing the boat. There are markets within this market that are going up very quickly and the broad stats don't tell this story. I would say up your budget to 650k and be ready to pounce.
 
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Hi We are looking to buy a blue chip IP in Brisbane to set up the backbone of our investments going forward.

Does anyone have any tips?

Looking for good equity growth and good yield with the intent to rent and hold.

Happy to do some renos if need be.
Up to a $500-550 value max if possible a lower spend to give us options for a potential 2nd property soon after.

You tips, areas and any advice are much appreciated.

Thanks :)

Not Blue chip but for houses I would look at Morningside, Carina, Cannon Hill, Chermside, Everton Park or Stafford with that budget.
 
You could consider buying some land in good parts of Sunnybank for that. I can see wealthy Asians paying a huge premium for that once the boom is in full swing. The big spenders all want to buy newish or build. Holding costs would be high so it would only be if you want to hold for the short term.
 
You could consider "bayside" for a $400-500k budget, not blue chip in terms of proximity to city but good yields and some parts look really good value and have not started to move significantly yet.
 
Not Blue chip but for houses I would look at Morningside, Carina, Cannon Hill, Chermside, Everton Park or Stafford with that budget.

+1. Good choices IMO.
It's very hard to advise not knowing what the strategy is? Bigger block for redevelopment? Closer to CBD for more capital growth? Newer or older to add value? Buying in a suburb at around $550K median?
Deals are to be found but you need to set clearer strategy what it is that you are after when investing?
I suggest compare the suburbs in your median price via:
http://house.ksou.cn/p.php?q=McDowall,+QLD
then decide on your strategy to invest, then find your deal....
 
You tips, areas and any advice are much appreciated.

Thanks :)

If you had a good look from maybe Annerley out too Moorooka you might pick up a old house in that price range it won't be lmr or any thing like that but with the way the BCC will have to think over the next ten years,they cant spread it out anymore,the only way is multi level blocks..
http://www.realestate.com.au/property-house-qld-holland+park+west-119102175

http://www.realestate.com.au/property-house-qld-tarragindi-119783427

imho
 
I notice one of these was on Logan road.
I thought it was good to avoid main roads like this when buying an ip?

I was told of two blocks for sale a little while ago on nursery road holland pk side by side which would have given a total of over 1500m2. would this have been a good buy?
I was cautioned being a main road and having a crematorium and mosque on the same road?
 
+1. Good choices IMO.
It's very hard to advise not knowing what the strategy is? Bigger block for redevelopment? Closer to CBD for more capital growth? Newer or older to add value? Buying in a suburb at around $550K median?
Deals are to be found but you need to set clearer strategy what it is that you are after when investing?
I suggest compare the suburbs in your median price via:
http://house.ksou.cn/p.php?q=McDowall,+QLD
then decide on your strategy to invest, then find your deal....

The strategy is to buy and hold. So as close to cbd or best areas for capital growth but would need to have 5% plus yield to ensure we can keep growing our portfolio?
 
I heard people mention Toowoomba. Does anyone know much about this area. Looking at realestate.com there are a wide range of areas within Toowoomba. Do any of you think this is an option.
Similar story with Redcliffe - I have heard it has developed significantly in the past few years with cafe guns etc.
Any views about these outer rings vs one in Brisbane region?
 
I heard people mention Toowoomba. Does anyone know much about this area. Looking at realestate.com there are a wide range of areas within Toowoomba. Do any of you think this is an option.
Similar story with Redcliffe - I have heard it has developed significantly in the past few years with cafe guns etc.
Any views about these outer rings vs one in Brisbane region?

Since when QLD state allows public to buy gun in a gunshop like in USA ?
 
I meant suburbs that were along the Bay, you can still get great value, good yields, nice cool bay breezes, all within a 45 minute train ride to the city.

Wynnum and Manly have jumped a bit, further down the line has not "yet".

Looks like birkdale is finally starting to move Nate which should keep us happy

Got my eye on an auction this Saturday, first property I have seen for sale in 2 years that is comparable to mine
 
seems property fever is just starting to take grip in Brisbane.

When I look back I think of some of the counter cyclical opportunities that were so obvious in hindsight...

Perth early 90s
Karratha 2005ish
Shares GFC
US real estate GFC
Sydney pre the current bubble

The fever that has gripped Sydney will clearly come to Brisbane next. Bubbles for Brisbane here we come!
 
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