G'day BRC,
Can't recall where I read it, but one source mentioned that Redlands is "running out of land to develop". I question this, as, looking further South (Redland Bay, Mt Cotton, etc. there does still seem to be many hectares of undeveloped land (and farms) ....... But, the "further North" areas of Redlands certainly are!!!
Still, I have watched (and rubbed my hands
) as Wellington Point screamed up 60% in about 18 months - now, I'm seeing growth "cooling" somewhat, but I still "see" the Bayside as under-rated. It was "too far out" up until only a few years ago, but things are changing. There's nothing like a cool breeze from off the water on a (typically) humid Brisbane summer's day....
I reckon Wgtn Point will continue to "tick on up" - but probably not at the same frenetic pace. But likely to meet (or exceed) the 10% pa figure onward. Why? Well, baby boomers, for one - the "cafe society" that seems pretty firmly entrenched there now - the increased access into the area (ongoing, I've heard...) - the fact that Manly has seen 130% over last five years (Wgtn Pt has only been moving for 2 years or so - has a bit to go yet...)
Same (or similar) probably applies to Ormiston, Cleveland, Vic Pt, Redland Bay, etc in a ripple effect - it might have already started, but I have not spent much time on those areas - maybe you can tell me!!!!
And Asy said it - rental vacancies are way low!!!! Either there are too few investors, or too many wannabe renters - whichever way, that's got to be good news!!! The Southern interest probably also brings "water proximity" up with it. Just look at the Central Coast over the last 4 - 5 years (and ongoing).
And Lota blew me away when I checked it out for the first time in a decade - I mean, Lota was the "backwater" of Manly but its prices are also going thru the roof (ripple effect again...) I have never really liked overlooking mangroves - sure, Cleveland etc. have a few of these too, but with Lota, that is ALL you can see!!!
Still upside Bayside imho, BRC.
Other opinions??
Regards,