Nundah, QLD

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Phantom_X

Hi guys,

I've been looking for our first investment property and some 1 (380k) and 2 bedroom (443k) off the plan apartments have been recommended to me in the suburb of Nundah, in Brisbane.

What are people's thoughts on this area for capital growth in the future, and infrastructure in the area? Is it likely that other apartment developments might over populate this area and erode any growth?

I'd been considering town houses in inner or northern suburbs of Brisbane so interested find out more about which would typically be the better option.

We are from Sydney so don't have much knowledge of the area, so keen to hear from anyone who may have some experience or knowledge of this location. We're considering going up to Brisbane over Easter to get a feel for the areas but know others on here have bought sight unseen.

Thanks
 
"off the plan" and "first investment property" just doesn't sit well with me.

You should do a forum search for "off the plan" - and there are many threads about the general issues with off the plan properties.
 
With the amount of construction of new apartments going on in the area at the moment, I would predict a fairly hefty oversupply when they are all finished which may well mean difficulty in finding tenants.

IMHO, the ship has somewhat sailed on Nundah...you would have been better jumping on that bandwagon a couple of years ago when the suburb was still considered a bit 'feral'. There will likely still be growth there but probably not to the extent which has been seen already.

$443k is far too much for a 2 bed apartment in Brisbane which is over 15mins by train from the city in my opinion. Sure, Nundah is nice and all (now...it wasn't a few years back), but not that nice when you can get MUCH more for that price in other suburbs nearby.
 
I'd buy an older apartment and reno it.

You can still buy large (over 90m2) 2 bedroom apartments for under $300k (old man bought Dec 13). So bargains to be had. And a reno on an apartment doesn't cost too much if you do it yourself.
 
It is the wrong side of town for me to comment, but I cannot help but smile when I think of Nundah.

My late father knew the owner of Nanda pasta. Dad used to tell me that when the owner first came to Brisbane and set up his pasta factory in Nundah, he went to whoever registers company names and asked for his product to be called "Nundah" pasta. He told Dad that the person couldn't work out what he wanted due to his thick accent and lodged all the papers as "Nanda" pasta... and the rest (as they say) is history.
 
wylie said:
It is the wrong side of town for me to comment, but I cannot help but smile when I think of Nundah.

My late father knew the owner of Nanda pasta. Dad used to tell me that when the owner first came to Brisbane and set up his pasta factory in Nundah, he went to whoever registers company names and asked for his product to be called "Nundah" pasta. He told Dad that the person couldn't work out what he wanted due to his thick accent and lodged all the papers as "Nanda" pasta... and the rest (as they say) is history.
Click to expand...

Wylie, that's a great story. Who would have thought. Made me smile just then.
 
Hi

I live a suburb over, Nundah is great and is close to so many things and transport...my thoughts are there are SO many units going in there and there will be over supply.

I think for the same amount of money you could buy a house in the surrounding suburbs...nudgee or banyo which is where I am and get a better return and capital gains if you do a small cosmetic reno.
 
Phantom_X said:
Hi guys,

I've been looking for our first investment property and some 1 (380k) and 2 bedroom (443k) off the plan apartments have been recommended to me in the suburb of Nundah, in Brisbane.
Click to expand...

Very basic 1brs in Nundah start from around $260k with 2br $50k or more above that. So you'd be paying a premium just to get a new place.

Eg:

http://www.realestate.com.au/property-unit-qld-nundah-116257591 1br $259k

http://www.realestate.com.au/property-unit-qld-nundah-116460107 1br $269k

http://www.realestate.com.au/property-unit-qld-nundah-115893831 2br $298k+

http://www.realestate.com.au/property-unit-qld-nundah-116476711 2br $310k

The inner north is commonly spruiked as a 'hotspot'. Zillmere is a bit further out but still considered a 'bit feral'. A house there may be affordable within your budget (Aspley side probably better). However even that area has also been hyped up (eg Channel 7 2 weeks or so back). There may be other well located suburbs to the west and south that offer excellent appeal but are not quite as hot.
 
Thanks guys, appreciate your advice. Looks like I did well to steer clear of that development and will resume searching for something else.

Planning to go up to Brisbane over Easter and check out some areas myself which I'm hoping will help me get an idea of what areas I should buy in.
 
Slightly off topic, but I see you're from Sydney so I'm going to throw in some unsolicited advice.

Be cautious when buying interstate. Watching out for dodge developers is cliche, what I'm talking about is some of the difficulties that arise from being far away.

I own a few properties interstate and I find real estate agents, tenants and tradesmen don't take me seriously (unless I fly down to speak to them directly). Also, whilst the cost of the trips are tax deductible they still cost you money you just get 30 cents to the dollar back.

I guess what I'm trying to say is if you buy interstate spend as much time looking for a good realtor as you do house hunting. I'm from Nundah, so could suggest some that I know of, but my only property in QLD is in the Gold Coast so I haven't dealt directly with any up here.

As far as your original question goes, I agree whole heartedly with the others, too much stock on the market and off the plan is dicey.

Good luck in your search.
 
This is one of the suburb which has interested me in my reasearch as well.

As there are some locals on this thread can i ask how well this suburb is served by public transport (bus, train etc....) is frequency for PT well connecting to city?
what about new developments are they high rising and in particular area on suburb

i am after 2bed,1bath,1car and believe should serve well in long term as investment....
thoughts??? budget is abt 350K....
 
We just spent the day looking around Nundah, we to are from interstate. My thoughts, way to many apartment blocks both old and new and loads of potential for further development. Lots of run down houses on good size blocks that could end up as development sites. The village is ok and has most amenities and you have a large shopping centre close by. It is so well connected with tunnel into city, bus' and trains and super close to airport. We were told by agents the best place is west of sand gate road up on the hill a little.
 
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