The only real benefit to a 6 month in qld is that if you have troublesome tenants it is easier to get them out (as shorter lease etc) as opposed to breaching them for any indiscretions and going through the eviction process in a longer lease.
PErsonally i would rather tie people in for longer, and have the review clause - better SANF for me...less times the property is vacant if you get a high turnover..
Imagine,
if you can get a UBD map or google earth or something and look down on Mitchelton you will see three main parts to the suburb.
1..north of the rail line
2..between the rail and Samford rd
3..between Samford Rd and the Enoggera Army Base
to a large degree prices tend to follow that trend - i will explain that and also that there is always exceptions to the rule.
Those homes in area 1 are in a part of town known as Oxford Park - still some housing commission in there and some of it is flood prone as the area is bordered by Kedron Brook in the North. Oxford Park is traditionally the poorer area of the suburb. The exception is a small pocket around Keylar street, Grace street and Chessom Street area where there are some old cavity brick homes and qld'ers that do well. The watch this space homes in this area are those in and around northmore, pascoe and glenholm streets...they seem to be fetching into the mid 500k's at the moment. It will be interesting to see where that stops.
Area 2 - the eastern end is where the traditionalists like to be, around church road and nicholson street there are some stunning old homes that fetch plenty of attention when they hit the market. They are the homes that you drive past and say "wow, look at that, isn't it a stunning old home". The lower portion of this area around osborne road, kedron av, university and glenholm streets are of a lower standard but still compare to midrange oxford park prices due to location.
Area 3 is all over the shop - the Vineyard estate behind the high school (and north of glen retreat road) is very popular with those who have larger amounts to spend and want to live in Mitchie, but prefer a new home to the oldies in area 2. These homes are larger houses on small lots (as is oft the current fashion). The second part is the area you are in. North west of Suez street, it has a mix of new and old and is very popular with the military families and developers as some of the area can be developed and the rest is being gentrified...many of the post wars have been done up very nicely and can be quite deceptive from the street. They will still have that old look, but inside they have had the bathroom and kitchen treatment and are quite modern. The last pocket on the east borders gaythorne and is older with some housing commission still there i beleive. Still not a lot wrong with this part and developers are doing a bit in there at the moment.
the older parts of area 3 is where the best opportunities are - you can still buy really well in there and for a longer term investment should do ok. There can be a quick buck in some of those streets around northmore i mentioned earlier - but most of those folks are seasoned investors and builders with a buyy-renovate-sell mentality and have the resources and ability to go for it!!
The other street that fetches big bucks is Gimba street - because its high up in the air and the larger homes there get some fabulous views over creation.
Hope this helps some - i think you are in a nice street there and given the proximity to everything MY OPINION is that it should grow nicely...i have said elsewhere in a couple of threads that i reckon Mitchie is yet to blossom to its full potential. there is a lot more to that statement - but this answer is long enough now...
all this is obviously just my humble opinion and no doubt others here may beg to differ...but i hope it sheds some light on things for you.
cheers
UC
