Opinion on investing in Woolloongabba - Brisbane

[Grogounet]

Hi Guys.

Started my research to do invest in Brisbane.
Ideally next to CBD - 3 Bed house

I came accross Wolloongabba while researching. One of the cheapest suburbs around the CBD. My question for those who know Brisbane: Why is it so "cheap"?

I have only so far one concern: Vacancy rates which are above my criteria. Would this be only because of the new OTP around? Would this also affect houses CG?

I will take a particular attention of the flooding map... But is there any street to avoid or a pocket area ideal for houses?

For those who will ask, yes I used the research function, yes the posts were from 2010 and yes I also looked on different website before raising these questions.
The reason for asking is that I need some insights.

(Note that I will travel to Brisbane soon myself to "discover" this suburb and any other which would attract my eye)

Cheers !

 

[Jamie_]

For those who will ask, yes I used the research function, yes the posts were from 2010 and yes I also looked on different website before raising these questions.

http://somersoft.com/forums/showpost.php?p=1013721&postcount=6
2013

 

[Grogounet]

Thanks but that post was for units... hense my other questions too...

(BTW I ve read that post too )

 

[Azazel]

Hi Guys.
Started my research to do invest in Brisbane.
Ideally next to CBD - 3 Bed house
I came accross Wolloongabba while researching. One of the cheapest suburbs around the CBD. My question for those who know Brisbane: Why is it so "cheap"?

I will take a particular attention of the flooding map... But is there any street to avoid or a pocket area ideal for houses?
Cheers !

Hmm, cheap compared to where? Highgate Hill and West End?
You can't get a house in Brisbane much closer to the CBD on that side of the river. Kangaroo Point, South Brisbane, South Bank are mostly apartments.
Avoid the main road(s), 24hr Maccas and the shadow of the 'gabba

 

[Anh]

Hi , there are 2 sides of the suburb: the one near Logan road is not as good a location as the side around near Abbingdon street or near Gabba central.

Ta

 

[Heinz57]

Flood maps

 

[vbplease]

Hi , there are 2 sides of the suburb: the one near Logan road is not as good a location as the side around near Abbingdon street or near Gabba central.

Ta

Agree with Anh - the streets west of Gabba central are much nicer than the Logan rd area. Logan rd has more of an industrial feel and the houses aren't overly well kept. It's the side I'd probably buy into - It has cafes, antique shops, a bar and new apartments being built.. So it's on the up. One new apartment complex (not yet built) is going to be massive! With new amenities built for all the unit dwellers, I'm sure this would be good for house prices?

Traffic is horrendous from gabba.. With only two bridges to cross the river, it may be 1km from the cbd, but takes the same time to drive as a suburb 6k north of the cbd.

 

[RPI]

The East Brisbane side of the Gabba has lots of nice Queenslanders in it and is walking distance to Churchie (top private boys school) so very attractive and pretty much flood free. Cross Stanley st and head towards Logan rd and it is old run down workers cottages. One thing to consider with this side though is that the local plan may have rezoned some of the grotty areas to medium or high density.

 

[benofbrisbane]

i don't think you can do too far wrong in Woolloongabba with a house. Unit maybe - but a house, I reckon it would be a goer every day of the week.

 

[C-mac]

Ive not bought there but done a bit of DD on the area. Houses certainly; but flood-map due diligence is vital for this suburb, despite council flood levy and fortification efforts

 

[Grogounet]

Thanks guys,
These are valuable insights, really appreciated.
I thought I registered to new posts, but didn t receive the notice...

I have suscribe to automated new listings via re.com.au, not so much luck so far, not a lot on the market.
Will start make contact with agents now.

 

[Tim86]

Highly recommend woolloongabba. Used to live there, great suburb. Has stones corner close by, close to everything, plus added advantage if you're renting by the room you're so close to the University of Queensland because of the pedestrian/bus Green Bridge to the campus - so you can easily get students.

 

[Azazel]

Highly recommend woolloongabba. Used to live there, great suburb. Has stones corner close by, close to everything, plus added advantage if you're renting by the room you're so close to the University of Queensland because of the pedestrian/bus Green Bridge to the campus - so you can easily get students.

Gotta be careful with renting by the room, the gov was cracking down on unapproved dual occupancies and residences with more than a certain number of non-related people in one house.
But I agree, it's very central.

 

[MelbInvester]

I came accross Wolloongabba while researching. One of the cheapest suburbs around the CBD. My question for those who know Brisbane: Why is it so "cheap"

I was looking but i could't find anything cheap.....

 

[Grogounet]

I have to expend my research...
Looking at datas, only 100 dwellings got sold last year (around 55 units and 55 houses)..