Redcliffe Peninsula

[RedPanda]

It's almost 6 months since the last post on this thread so I thought I'd revive it, as I'm semi interested in buying in the Redcliff\Scarborough area. With the current doom & gloom about and tough economic conditions, how have these area's held up compared to inner Brisbane? Has there been a significant fall in prices? I read in another post that Deception Bay has lost 10-20% over the last 6 months or so which is a little further North.

I'd also be interested in which area's closer to CBD offer similarly priced properties with better transport, ie train\bus into the city. My budget is say up to $370-380K and want to buy a house.

Hi Bludger,

Redcliffe house prices have more or less held themselves over the last few months. I think Deception Bay is also be good buy, but I always try to buy close to water if possible. There is a demographic change happening in Redcliffe peninsula right now. Whilst Redcliffe was home to socio-economically poor people earlier, now more and more working families looking for lifestyle are moving in. Transport has been the major issue but with the duplication of the Houghton Highway due to finish next year, that would no longer be a problem. The ways cities grow and develop with increasing population, Redcliffe seems to be a safe bet. Redcliffe is one of the very few places where prices of units and houses are almost the same. This is due to new unit blocks that have come up and will continue to come up as population of Redcliffe increases. Redcliffe is one of the fastest growing areas in terms of population. I don't know of many places in Brisbane where units sell for over $2 million. Such is the potential there. So if you buy a house in prime area, you can expect to get an offer from developer in coming time as more and more units need to be built to cope with increasing population.

With your kind of budget, I would suggest that you buy double blocks or East of Oxley. Buy as close to water and you won't go wrong.

Hope this helps.

 

[BoatBoy]

Hi Bludger,

I don't know of many places in Brisbane where units sell for over $2 million.

Are they really?

With your kind of budget, I would suggest that you buy double blocks or East of Oxley. Buy as close to water and you won't go wrong.

Brisbane Bayside offers the same with double blocks and for similar money

I can still drive into the city leaving at 8:10am and arriving in 30 minutes sometimes less

or, I can catch a shiny metal beastie called a train, try doing that in Redcliffe

http://www.realestate.com.au/cgi-bi...&idir=&c=76794914&s=qld&snf=ras&tm=1233017048

 

[RedPanda]

Are they really?




Brisbane Bayside offers the same with double blocks and for similar money

I can still drive into the city leaving at 8:10am and arriving in 30 minutes sometimes less

or, I can catch a shiny metal beastie called a train, try doing that in Redcliffe

http://www.realestate.com.au/cgi-bi...&idir=&c=76794914&s=qld&snf=ras&tm=1233017048

Hi BoatBoy,

I agree Wynnum is also a good choice but I prefer Redcliffe as it is more of a lifestyle location (or so it will be as more and more people realise it). Best beaches closer to Brisbane than Sunshine Coast and Gold Coast. After completion of duplication of Houghton Highway, Redcliffe will also be 30 min from Brisbane. Yes, there is no train, though there have been talks for decades. But with governments spending money on developing Redcliffe, things can only go better. And yes, in Redcliffe prices have gone this high.

http://www.realestate.com.au/cgi-bi...&idir=&c=92883740&s=qld&snf=rbs&tm=1233028767

And will continue to go up.

Btw, I thought Redcliffe was also Brisbane bayside. Isn't it

Cheers,

 

[BoatBoy]

Hi BoatBoy,

I agree Wynnum is also a good choice but I prefer Redcliffe as it is more of a lifestyle location (or so it will be as more and more people realise it). Best beaches closer to Brisbane than Sunshine Coast and Gold Coast.

Beaches, actually I have better beaches near me that are closer to the CBD of Brisbane than Redcliffe, much much better beaches with clear water and clean sand, but you need a boat to get to them, and get to travel in a much calmer part of the bay so I'll pretty much get them to myself. For water people, down this end of the bay holds a far greater attraction as we dont have to contend with all the shifting banks that block access to the islands. Just look at the amount of boats in the harbour here as proof of my comment.

Scarborough Harbour
http://maps.google.com/maps?hl=en&ie=UTF8&ll=-27.194058,153.107067&spn=0.005048,0.008283&t=h&z=17

Manly Harbour
http://maps.google.com/maps?hl=en&ie=UTF8&ll=-27.456036,153.191857&spn=0.010073,0.016565&t=h&z=16

After completion of duplication of Houghton Highway, Redcliffe will also be 30 min from Brisbane.

There is no way that you will be able to drive to Brisbane in 30 minutes from Redcliffe in peak hour traffic, like I can now from Wynnum/Manly area.

Couldn't do it in my younger days in fast RX3's and Hot Ford Muscle either.

The Houghton Highway Dup. is only 3 klm of a 40klm trip.
Have you been in the traffic recently to see where the holdups are?

Yes, there is no train, though there have been talks for decades. But with governments spending money on developing Redcliffe, things can only go better.

Yes, they have talked for decades, I am a born and bred Redcliffe boy, so heard it all over the years. Promises promises all so often blown away on the wind.

I prefer the reality of the train I can see a few hundred meters away

And yes, in Redcliffe prices have gone this high.

http://www.realestate.com.au/cgi-bi...&idir=&c=92883740&s=qld&snf=rbs&tm=1233028767

They arent sold, they are for sale, so I would suggest they may actually come down, if, they want a sale.

And will continue to go up.

Good luck with that on the high end stuff this year.

Btw, I thought Redcliffe was also Brisbane bayside. Isn't it

Cheers,

Ahhh, no, not really, just like the Gold Coast and Ipswich arent Brisbane either

Brisbane is Brisbane, Redcliffe is its own seperete city http://www.moretonbay.qld.gov.au/

 

[RedPanda]

Fair Comments BoatBoy!

Beaches, actually I have better beaches near me that are closer to the CBD of Brisbane than Redcliffe, much much better beaches with clear water and clean sand, but you need a boat to get to them, and get to travel in a much calmer part of the bay so I'll pretty much get them to myself. For water people, down this end of the bay holds a far greater attraction as we dont have to contend with all the shifting banks that block access to the islands. Just look at the amount of boats in the harbour here as proof of my comment.

If one needs to have a boat to access beaches, Moreton Island is much better. And what if one doesn't have a boat, you sure have as is evident from the name, but what if one just wants to jog on the beach early morning?
And Redcliffe draws much greater number of tourists as well as people from all around Brisbane metro on weekends and there is so much to do and see.

They arent sold, they are for sale, so I would suggest they may actually come down, if, they want a sale.

The ones on Realestate are obviously for sale but there are many more such sold every year.

Ahhh, no, not really, just like the Gold Coast and Ipswich arent Brisbane either

Brisbane is Brisbane, Redcliffe is its own seperete city http://www.moretonbay.qld.gov.au/

As you said Redcliffe is a separate city in itself, and is increasingly becoming self-sufficient. Proximity to Brisbane isn't everything as there are jobs in retail, tourism and healthcare in Redcliffe peninsula itself. But at the same time it is accessible to Brisbane also. And offering lifestyle too.

What about affordability? Can you buy a house under 350,000 within 100m to a beach in Manly or Wynnum? That's why I think growth in Redcliffe will continue. There has been tremendous growth in Redcliffe in the past 5 years and growth drivers haven't changed. In fact as more development takes place and money is spent by government, growth should also increase.

I live in Sydney and 25 km is nothing believe me, nothing. And you couldn't find comparable beachfront properties 25km from Sydney under $1 million.

With the kind of population growth happening in Brisbane, Redcliffe will soon (5-7) years be considered a part of Brisbane.

I am struggling to find a single edition of API and YIP over the last one year where Redcliffe is not named a property hotspot. And many times it has been ranked no.1 hotspot in Australia not only in Queensland. Manly/Wynnum also found a mention once I think.

Cheers,

 

[BoatBoy]

What about affordability? Can you buy a house under 350,000 within 100m to a beach in Manly or Wynnum? ,

Maybe not 100 metres, but yes, they are there.

http://www.realestate.com.au/cgi-bi...-Detached,House,Terrace,Villa,Warehouse&o=def

and, 18klm to the cbd not 40klm and did I mention the train and a short drive(10-12 minutes to Bulimba) to the Citikat for that leisurly boatride to work.

Dont get me wrong Roopam, I like Redcliffe, I was born there, used to snorkel the reefs surrounding, work the boats during school holidays and fish the areas extensively as a kid, I just think in this day and age of rising fuel prices and road congestion, other areas offer similar attractions with better facilities for similar or cheaper money.

But, each to his own, its why we dont all live and invest in the same places.

Dave

 

[RedPanda]

Hi Dave,

Agree with you. Proximity to the CBD is definately a very big factor and I have taken this into consideration in my other investments, as steady capital growth is assured. But there is sometimes more growth (read exponential growth) potential in some areas even if they are not very close to CBD. Ipswich, Redcliffe and Beenleigh are good examples. The growth that these suburbs achieved is probably more than what other closer to CBD suburbs achieved over the past few years. You may call it a gamble but isn't life a gamble?

Cheers,
Roopam

 

[Craig-G]

Sorry to interrupt the BoatBoy Vs. Roopam debate, however thought I would throw my hat into the ring...

Firstly I am not from Brisbane and have spent a total of 10 days in QLD my entire life so take my opinion as you will. I have however purchased a property in Woody Point around 18-24 months ago for $315,000. Further to this, I have just last week had this property reval'd for $360,000 for refinance purposes. Happy with that result but still see so much potential in the area. So much so that my wife and I have agreed we would literally sell up in WA and move to QLD in an attempt to save our Woody Point house if things turned bad for what ever reason (lost jobs etc).

Our purchase story is such that at the height of the boom, Perth didn't hold much appeal to us so I undertook extensive paper and online research to try and identify an area that appeared to be 'value'. Decided that QLD had good appeal in our price bracket and particular the areas on each side of the Houghton bridge. When we made a DD trip I was adamant that getting City side of the bridge would be a much better investment however when we arrived in Redcliffe we were amazed. It was like night and day to us and we fell in love with the place. It had a such a nice holiday feel to it - coffee shops - restaurants - massive foreshore's with great path networks and we love the coast.

People may argue that the beaches aren't the nicest to swim in and I would 100% agree, however that said most rivers are in the same boat (pardon the pun) and people pay a premium to be near these. Water to me just adds a great feel to a place - anyway if you kids want to swim, they have one of those special QLD man mad beach/pool things on the coast anyway.

Redcliffe is a place that we would love to holiday at and having said that the reality that we could purchase a stand alone house in such an area and still be commutable to the CBD blows us away. I feel alot of people would sacrifice the extra commute time to raise their family in such an area.

Now, I am fully bracing myself for the bombardment of ridicule from Brisbanites who grew up in the area and know it worts and all. And yes the Deadcliffe stigma still exists I am sure, however areas do change over time and if my take on the peninsular is anything to go by maybe a few others will share my views.

I might also add that I am partly comforted by the amount of media over the last 18 months about Redcliffe as an investment hot spot. Again these are just opinions, but hey the more people that feel this way the quicker an opinion will become reality.

Finally, in a recent trip back to Brisbane (my second 5 day stint) I spent a couple of days in Redcliffe and my thoughts were only enhanced.

Obviously only time will tell but this is certainly 1 who will be holding onto the peninsular for the long term.

Craig

 

[urban cowboy]

People may argue that the beaches aren't the nicest to swim in and I would 100% agree, however that said most rivers are in the same boat (pardon the pun) and people pay a premium to be near these. Water to me just adds a great feel to a place - anyway if you kids want to swim, they have one of those special QLD man mad beach/pool things on the coast anyway.

smart post...

you reminded me of a conversion i had with an old developer years back...this bloke is worth gazillions and when i first went into real estate I asked him what the most important thing he's learnt. His answer

never buy more than 2km from the water - doesn't matter if that water is a mozzie ridden swamp - if it is near water, buy it...sooner or later it will be worth it!!


thanks for bringing back that gem! I had long forgotten!

 

[RedPanda]

Sorry to interrupt the BoatBoy Vs. Roopam debate, however thought I would throw my hat into the ring...

Firstly I am not from Brisbane and have spent a total of 10 days in QLD my entire life so take my opinion as you will. I have however purchased a property in Woody Point around 18-24 months ago for $315,000. Further to this, I have just last week had this property reval'd for $360,000 for refinance purposes. Happy with that result but still see so much potential in the area. So much so that my wife and I have agreed we would literally sell up in WA and move to QLD in an attempt to save our Woody Point house if things turned bad for what ever reason (lost jobs etc).

Our purchase story is such that at the height of the boom, Perth didn't hold much appeal to us so I undertook extensive paper and online research to try and identify an area that appeared to be 'value'. Decided that QLD had good appeal in our price bracket and particular the areas on each side of the Houghton bridge. When we made a DD trip I was adamant that getting City side of the bridge would be a much better investment however when we arrived in Redcliffe we were amazed. It was like night and day to us and we fell in love with the place. It had a such a nice holiday feel to it - coffee shops - restaurants - massive foreshore's with great path networks and we love the coast.

People may argue that the beaches aren't the nicest to swim in and I would 100% agree, however that said most rivers are in the same boat (pardon the pun) and people pay a premium to be near these. Water to me just adds a great feel to a place - anyway if you kids want to swim, they have one of those special QLD man mad beach/pool things on the coast anyway.

Redcliffe is a place that we would love to holiday at and having said that the reality that we could purchase a stand alone house in such an area and still be commutable to the CBD blows us away. I feel alot of people would sacrifice the extra commute time to raise their family in such an area.

Now, I am fully bracing myself for the bombardment of ridicule from Brisbanites who grew up in the area and know it worts and all. And yes the Deadcliffe stigma still exists I am sure, however areas do change over time and if my take on the peninsular is anything to go by maybe a few others will share my views.

I might also add that I am partly comforted by the amount of media over the last 18 months about Redcliffe as an investment hot spot. Again these are just opinions, but hey the more people that feel this way the quicker an opinion will become reality.

Finally, in a recent trip back to Brisbane (my second 5 day stint) I spent a couple of days in Redcliffe and my thoughts were only enhanced.

Obviously only time will tell but this is certainly 1 who will be holding onto the peninsular for the long term.

Craig

Well said Craig! Agree with you 100%. My research says Redcliffe has a lot of growth to come. I am definitely there for the long term. How many times do the locals write off a suburb with past stigma only for outsiders to recognise its true worth. There is a recent post about somebody investing and doing well in Carramar (Sydney suburb). For many people living in Sydney, Carramar may not be an ideal place to invest and they can give 100 reasons not to invest there. This is why I think interstate investors who have no pre-conceptions about potential investment suburbs are probably better placed to pick a growth suburb.

Cheers

 

[josko]

I'm pretty sad really, as I have had to place my two favourite Scarborough properties on the market. I am hoping to just sell one and keep the other.

I have also had a reval increase of 20k in 12 months. Which means they actually think it is worth more!

It's breaking my heart!

Regards

JO

 

[RedPanda]

I'm pretty sad really, as I have had to place my two favourite Scarborough properties on the market. I am hoping to just sell one and keep the other.

I have also had a reval increase of 20k in 12 months. Which means they actually think it is worth more!

It's breaking my heart!

Regards

JO

Hi Jo,

Do you have to sell? Can't you refinance?

All the best.
Roopam

 

[josko]

Hi Roopam,

I can with one but not the other- $7000 exit fee plus LMI on new loan is just too much, although I hear Rams is capitalising the LMI. I think in this economic climate refinancing and refinancing is not the answer. Reducing debt and consolidation is.

In this market I need to sell what I can, it is not my choice but the buyers.
Just had a contract fall through. Back to the drawing board!

Regards Jo

 

[RedPanda]

Hi Jo,

You are the best judge for your personal situation. I would be reluctant to sell in this climate if I can avoid it. As you said it's a buyer's market and even though you may already be sitting on handsome profit, you might get a much better price in a couple of years time. Don't know what LVR you are sitting on but if LMI can be capitalised you might be better off in the long run if you hold on in tough times.

Sorry for the unsolicited advice. You are the best person to make a call. Having said that all the best and hope things work out well for you. I'm sure they will.

Cheers,
Roopam

 

[josko]

Cheers Roopam,

Regards Jo

 

[ritchie77]

Narangba and Morayfield

While we are on the topic of Redcliffe and surrounds I hear you guys saying the properties have held well (or at least most are saying this).

I purchased IP's in Narangba and Morayfield approx 1 - 2 years ago.... How have these held up in the financial downturn over the last 6 months? Looking on realestate.com they look like they are holding value from 6 months ago as I have not really been looking in between - other things to worry about!

Is there any local knowledge up there or other investors with a take on properties around Narangba/Morayfield area and whether the FHOG is effecting this area with the more affordable housing?

Thanks in advance guys

Ritchie

 

[RedPanda]

Hi Ritchie,

Sorry, but I have no information on these areas.

Cheers.

 

[Kevin Hockey]

Regarding the discussion about Redcliffe and a rail line I have 2 points.

1. It ain't happening anytime soon.

2. I think it's a good thing.

Redcliffe is like an island, largely surrounded by water and is a location which has been improving significantly over the last decade. Previously an area the elderly retired to Redcliffe became a location with little local economy. When the canals were built it attracted a different demographic and this along with the boom saw builders and developers stimulate a bouyant property market and therefore change in the demographic which previously resided at Redcliffe.

A train station will attract more lower socio economics, more grafitti, more crime and potentially more problems. I believe Redcliffe is still best served remaining the destination it currently is. It's uniqueness, community spirit and identity will continue to improve by creating more local jobs and continued upgrades of the major roads out of Redcliffe.

Yes it is around a 1 hour drive from Redcliffe to the city however most locals believe the drive is worth it, especailly when you cross the bridge on a clear blue sky day, the water is calm, you can clearly see the ships in Moreton Bay and Moreton Island and it's iconic sand dunes are in full view. It's magic and that 3km trip over the Houghton Highway provides all locals the opportunity to enjoy the benefits of the City of Redcliffe.

Kev
www.kevinhockey.com

 

[LynnH]

There must be an election in the air .....

Today's 'Courier Mail', page 11 reads:

"A Liberal National Party government would build a $640 million rail line to Redcliffe by 2016, LNP Infrastructure spokes-woman Fiona Simpson pledged yesterday.

Ms Simpson said construction of Redcliffe Rail, an updated version of the Petrie to Kippa-Ring rail line, could start in the new government's first term if it received Federal funding.

However she promised that, with or without federal funding, the line would be completed by 2016.

The proposed rail line was shelved by Labor five years ago after the Transport Department deemed it unviable. Labor has promised the corridor will be used for a bus line.

Ms Simpson said "transport oriented development" near stations on the new rail line would help pay for construction.

She said the LNP would set up a company to "maximise returns" on the project, but it was "subject to financial constraints and the global financial crisis". "

Note all the usual 'cover your ar$e' words (my underlining).

Ho, hum! Another election, another promise for a rail line to Redcliffe, which will be cancelled after the election ..... as it has been every other time.

Agree with everything you've said, Kevin, and for all the reasons you've stated!!! Good to see you back.

Cheers
LynnH

 

[RedPanda]

There must be an election in the air .....

Note all the usual 'cover your ar$e' words (my underlining).

LynnH

Well said LynnH

Kevin, I always thought rail line is a good thing. Your views also seem to have weight. Now I'm confused.

Cheers.