purchasing townhouse as investment in Farfield Brisbane QLD

[cal50l]

Hi this is my first post, I really enjoy reading this forum and respect everybody opionion, seems like a lot of switched on people here.

I have been looking to purchase an investment property that has good return but also a better chance of capital growth. Iv'e missed the boat in sydney/illawarra were I have been looking lately (I live in wollongong ) so decided to look elswhere. sydney and northern Illawarra market is extremely heated lately, i've particulary noticed in northern illawarra people are not afraid to pay large sum for over priced property.

Just randomly browsing some suburbs of Brisbane noticed Fairfield. Found a townhouse thats almost new (220m2 internal, very nice fitout and low body corprate fees) that should return upwards of $550 per week rent. Buy in price is expected to be between $500-$550k.
Anybody got some info of this area?. But vitals seem good, 5kms to brisbane CBD, walking distance to train station which is only 3 stops, UNI fairly close, shopping walking distnace aswell.
Negatives I beleive is it may be prone to flooding?
Im going in blind but any info would be very much appreciated about rental vacany and future capital growth in this area?
Cheers
Jason

 

[Roachy]

Hey there cal50,

Firstly, Welcome to the Forum. You are indeed correct and there are many switched on people here.

The place you mentioned does meet one of your criteria, that being a good location for Capital Gains. It does not meet your second criteria of rental yield (returns) even at $500k price (5.6%).

In regards to flooding please check this website by putting in the address of the property. http://www.qldreconstruction.org.au/flood-check-map

I think you may receive some better value properties with better yields for a cheaper price on the Northside. Try areas such as, but not limited to:

Lutwyche, Ashgrove, Alderley, Kedron/Stafford

Southside:

Holland Park West

Good luck.

Regards,

R

 

[eeew]

Hi this is my first post, I really enjoy reading this forum and respect everybody opionion, seems like a lot of switched on people here.

I have been looking to purchase an investment property that has good return but also a better chance of capital growth. Iv'e missed the boat in sydney/illawarra were I have been looking lately (I live in wollongong ) so decided to look elswhere. sydney and northern Illawarra market is extremely heated lately, i've particulary noticed in northern illawarra people are not afraid to pay large sum for over priced property.

Just randomly browsing some suburbs of Brisbane noticed Fairfield. Found a townhouse thats almost new (220m2 internal, very nice fitout and low body corprate fees) that should return upwards of $550 per week rent. Buy in price is expected to be between $500-$550k.
Anybody got some info of this area?. But vitals seem good, 5kms to brisbane CBD, walking distance to train station which is only 3 stops, UNI fairly close, shopping walking distnace aswell.
Negatives I beleive is it may be prone to flooding?
Im going in blind but any info would be very much appreciated about rental vacany and future capital growth in this area?
Cheers
Jason

Its a good area -you should get good CG. Watch out for flooding in the area - Must check flood maps. It comes down to how much risk you can handle for the price. If you really cant take any floodrisk in the area then look elsewhere in bris- still quite a few comparble properties in no flood zones in bris for the price you mentioned.

 

[willair]

Hi this is my first post, I really enjoy reading this forum and respect everybody opionion, seems like a lot of switched on people here.

I have been looking to purchase an investment property that has good return but also a better chance of capital growth. Iv'e missed the boat in sydney/illawarra were I have been looking lately (I live in wollongong ) so decided to look elswhere. sydney and northern Illawarra market is extremely heated lately, i've particulary noticed in northern illawarra people are not afraid to pay large sum for over priced property.

Just randomly browsing some suburbs of Brisbane noticed Fairfield. Found a townhouse thats almost new (220m2 internal, very nice fitout and low body corprate fees) that should return upwards of $550 per week rent. Buy in price is expected to be between $500-$550k.
Anybody got some info of this area?. But vitals seem good, 5kms to brisbane CBD, walking distance to train station which is only 3 stops, UNI fairly close, shopping walking distnace aswell.
Negatives I beleive is it may be prone to flooding?
Im going in blind but any info would be very much appreciated about rental vacany and future capital growth in this area?
Cheers
Jason

One would think with 500k,you would find a house in Annerley for that price on the hill flood free facing the Brisbane river,or ring up the BCC and ask if the prorerty floods plus depending on the location the rent may well be high for the area,plus from what i'm told the os students are not renting in that area due too the bad luck of renting flood properties..imho..