Opinions on Moorooka?
- Thread starter sasjes
- Start date
Bought a 2 brm unit for $265k ...have it rented for $295pw.
It has good potential as it is only 7-8 klms from the Brissie CBD......very good infrastructure.
It has good potential as it is only 7-8 klms from the Brissie CBD......very good infrastructure.
I gave this suburb a bit of a look a while back. Seemed like great bang for your buck -- especially in grabbing big blocks with development potential, but I didn't look too deeply.
When'd you buy, Sash?
When'd you buy, Sash?
I bought in Feb and settled in March.
Also bought one in neigbouring Annerley...this one also settled on the 12th of March 2014.
Also bought one in neigbouring Annerley...this one also settled on the 12th of March 2014.
Everyone tells me Moorooka is on the up etc but the perception is that it is a stop off point for many African immigrants. The flow of new arrivals to Kuraby and Runcorn has been increasing so the negative perception attached by many buyers will also be slowly diminishing.
I looked at a place on the main drag at Moorooka a few months ago with a view to converting it to an office. On comparatives per sq m I valued the property in the mid 300s. After the auction with 1 registered bidder (not me) where it was passed in I told the agent my thoughts who told me I was delusional (405sqm block- 40's style house in poor repair) as nothing sold for under $400k. I pointed him to 2 flat 607sqm blocks on the main drag at a nearby suburb with knock down asbestos houses that went for 358k and 370k (unconfirmed) . I think better value elsewhere but that's me.
I looked at a place on the main drag at Moorooka a few months ago with a view to converting it to an office. On comparatives per sq m I valued the property in the mid 300s. After the auction with 1 registered bidder (not me) where it was passed in I told the agent my thoughts who told me I was delusional (405sqm block- 40's style house in poor repair) as nothing sold for under $400k. I pointed him to 2 flat 607sqm blocks on the main drag at a nearby suburb with knock down asbestos houses that went for 358k and 370k (unconfirmed) . I think better value elsewhere but that's me.
That is what they said about Marrickville and Campsie in Sydney a few years ago..it is now hard to buy houses under 900k and apartments under 430k....to many immigrants.....who cares.
Over time people will see that these suburbs are very close to the city have excellent infrastructure. I beleive in 5 years Moorooka will be a very different place....
Over time people will see that these suburbs are very close to the city have excellent infrastructure. I beleive in 5 years Moorooka will be a very different place....
+1 to Moorooka.
There may be something to be said about a suburb that is not itself, although adjacent to a few suburbs that have been, flood affected. Perhaps there's a subconscious perception that it's slightly better than its nearby counterparts. It's the old 'make sure your wingman is slightly less good looking than you' mindset.
There may be something to be said about a suburb that is not itself, although adjacent to a few suburbs that have been, flood affected. Perhaps there's a subconscious perception that it's slightly better than its nearby counterparts. It's the old 'make sure your wingman is slightly less good looking than you' mindset.
