Murrarie - what do you think?

[Tulamalula]

Hi all

What do investors here think of Murrarie? There are some flood areas but the house I am looking at is a renovator and it wasn't near the water so wasn't affected by the floods.

I like the location because its near Wynnum Road and the Gateway, and it's only a few streets out of Cannon Hill which has taken off in price. It's just down the road from Morningside which is much higher in price.

Is there anything I should know about Murrarie and future plans for development in the area that others are aware of?

What is Wynnum Rd like getting into the city these days? It's 1k form Murrarie train station, so you could walk there easily.

For the same (or a bit more) in Carina, Cannon Hill you get a post war box, this place is a nicely run down character home on 670sqm. The plan would be to lift, reno inside and rent.

Thoughts?

(To add, it sold for $380 in 2011, so $120K in 2 years in a flat Brisbane market - the vendor may be dreamin')

 

[JDP111]

Hi all

What do investors here think of Murrarie? There are some flood areas but the house I am looking at is a renovator and it wasn't near the water so wasn't affected by the floods.

I like the location because its near Wynnum Road and the Gateway, and it's only a few streets out of Cannon Hill which has taken off in price. It's just down the road from Morningside which is much higher in price.

Is there anything I should know about Murrarie and future plans for development in the area that others are aware of?

What is Wynnum Rd like getting into the city these days? It's 1k form Murrarie train station, so you could walk there easily.

For the same (or a bit more) in Carina, Cannon Hill you get a post war box, this place is a nicely run down character home on 670sqm. The plan would be to lift, reno inside and rent.

Thoughts?

(To add, it sold for $380 in 2011, so $120K in 2 years in a flat Brisbane market - the vendor may be dreamin')

Since you are ok with renovating, id go with your last idea of 600+sqm 'character' houses in neighbouring suburbs and reno the c**p out of it.

 

[Tulamalula]

Just looke dup the local neighbourhood plan, it's earmarked for LMR - low medium residential density. There is a large vacant block of land the property backs onto which is going to be community use area, and across the road, the properties that face Wynnum Rd are earmarked for medium density residential.

Might be wiser to buy and do nothing and sit on it and develop in the future.

House isn't in a character precinct and doesn't have a DCP on it.