Richlands or Calamvale Brisbane IP

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dyjeeon

Hi SSers,

I am currently looking to buy IP at the budget around 300k-450k.

Recently, I stumbled upon few options :

Richlands Village (Richlands, Brisbane)
Distance to CBD: 18km
Price range around: $350k (3bed,2bath,1car, townhouse, off the plan)

Menser Place (Calamvale, Brisbane)
Distance to CBD: 19km
Price: $390k (3bed,2bath,2car, off the plan)

Being a Sydneysiders, I've got limited idea at the moment in regards to the suburb potential. I understand that both suburbs are within 18km range from CBD, however, I am unsure about the community, amenities, living environment, which are fundamental to growth prospect in the long run, IMO.

Additionally, I am looking to rent out the IPs. Are these place considered as a healthy rental market in Brisbane?

What do you guys think about these options, are these sounds reasonable? I am still researching at this stage, any opinion or advise will be appreciated. Any other suggestion on Brissie's suburbs?
 
Calamvale ticks boxes for middle class marketplace for a mid to long term CG investment strategy.

I would definitely stay clear of OTP type investment though due to the higher risk exposure.

Some good quality, well located established buys in the area though.
 
Thank you for the response coastal. Is there any good schools and public transport around Calamvale as well? I am going to Brissie to actually look at the suburbs, I have no idea apart from what I can find in this forum or Google :p

Rixter, thank you. Yep, number seemed to fits my plan for mid to long term CG. I was just a bit worry about the rental vacancy rate and yield. Is it the norm for people around there to rent?

The property price itself seemed to be reasonable. What do you think?

OTP in the area seemed to be good, so I was half heartedly convinced at this stage - until I see the location myself.

This is another learning experience for me. Quite amusing to realise that different people live with different mindset and thus drives different demand.
 
Calamvale is well serviced by public transport.

Try something within walking distance of public transport. It is a good middle to high class suburb. There is Stretton State school which is quite good and several others in the area.
You have woolies and coles,shops within 5 mins driving distance. There are lots of town house complexes. The Calamvale Hotel is doing a big development, I think it is a hotel/conference centre.

It it is in big demand as there are nice big houses which are well priced.
 
dyjeeon said:
Thank you for the response coastal. Is there any good schools and public transport around Calamvale as well? I am going to Brissie to actually look at the suburbs, I have no idea apart from what I can find in this forum or Google :p

Rixter, thank you. Yep, number seemed to fits my plan for mid to long term CG. I was just a bit worry about the rental vacancy rate and yield. Is it the norm for people around there to rent?

The property price itself seemed to be reasonable. What do you think?

OTP in the area seemed to be good, so I was half heartedly convinced at this stage - until I see the location myself.

This is another learning experience for me. Quite amusing to realise that different people live with different mindset and thus drives different demand.
Click to expand...

There is strong rental & owner occupier demand for the area.

It is adjacent to main arterial roads north into Brisbane CBD & south to Gold Coast, public transport, major shopping areas, high employment area, excellent educational, medical & recreational facilities.
 
We have been living in Calamvale for more than 4 years and we like it. Lots of parks for kids to play (calamvale community park), good schools (eg. Stretton college), quiet and friendly neighbourhood, close to woollies, houses are quite new etc.

Rental demand - houses seem to be rented out pretty quickly

It's a middle class surburb with a large Asian polulation (I am Asian myself:D) as it's not very far away from Brissy's real Chinatown - Sunnybank.

Cons:

Being 19km from the city going to and coming back from the city during peak hours is a pain!
 
I used to live in Algester and Parkinson. Catchment for Stretton College and Algester Primary was always in high demand! Calamvale Shops and take away stores in area were good.
 
Hi dyjeeon
First time poster but long term reader of this forum and investor, I think Calamvale is definitely the better option providing you can buy well in the area.
Negatives are distance to a train station with the beenleigh line stations of altandi and fruit grove several km away. I own property in sunnybank and have seen demand in this suburb increase greatly with similar results in sunnybank hills and Calamvale. Not sure if the market there has hotted up yet in this cycle.
Richlands is a different market as it is a socioeconomic area but has potential also.
 
dyjeeon said:
....
I am going to Brissie to actually look at the suburbs, I have no idea apart from what I can find in this forum or Google :p
....
Click to expand...

Id suggest you meet up with a buyers agent. They will be able to provide you with the right knowledge and help you narrow down searches and find the best fit for what you are looking for. Sure itll cost you money for a BA, but it seems like you are just too green and having hired help may be the way to go on this one.
 
Hi guys,

Thank you for all your reply today, it has been really overwhelming :)

Spoken to buyers agent, he recommended Richlands compared to Calamvale for these reasons: New train station, gentrification on the areas and surroundings. However, Calamvale is still a good candidate for growth as well.

I will shop around for more information at this stage and would actually visit Brisbane in the coming week or two.

Does anyone know if Richlands is stigmatised by any socio-economic condition or high crime rate?

Meanwhile, I will definitely keep Calamvale on top of my list for now.. Still doing my further research.. Will definitely keep you guys posted.
 
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Richlands has suffered in the past due to its proximity to Inala which has been historically viewed as one of the lowest socioeconomic areas of Brisbane. Inala still has a lot of Dept of Housing properties as well as some socio-cultural issues. In saying that probably in the last 5-7 years property in this area has done well given that it is acknowledged as an area that is not that far from the city and reasonable access to the Gold Coast.

In saying all that I would take Calamvale over Richlands.
 
I went to both sites. Calamvale is a nice, matured suburb compared to Richlands. I can see that there are a lot of new land release in the area and a lot of new townhouses. Richlands is not as bad as I thought, whilst on the other hand I ruled out Calamvale since the price tag is almost as high as an apartment in the prime location at around CBD.

Yes the area seemed to be a bit underdeveloped, but the fact that there are lot of new housing in the area might be a good sign. I also found out about Richlands Wacol industrial corridor government plan from .gov website. Maybe it is a good thing to have government looking after the area to be main industrial precinct around the south side of Brisbane.

Rental vacancy seems to be low as well based on SQM stats.

Looking for the long term (5-10 yrs), I believe Richlands could hold some potential.
Any opinion?
 
dyjeeon said:
Richlands is not as bad as I thought, whilst on the other hand I ruled out Calamvale since the price tag is almost as high as an apartment in the prime location at around CBD.
Click to expand...

I take it you are investing for long term CG?

If so, what do you think the CG comparison between Calamvale & an Apartment in CBD is like?

Secondly also ask yourself, why would Calamvale's price tag be close to an apartment in the Brisbane cbd ?

I hope this provides some food for thought.
 
Thanks for the feedback Rixter. I am seeing what are you trying to say now :)

I am looking for mid to long term investment (5-10 yrs). I am definitely not going to go for apartment, sticking to my initial plan.

Calamvale convince me a lot. What I was just trying to say is that Richlands seems to be an empty area for now, however the complex I was seeing seems to be interesting since it is going to be the only new complex of townhouses around Richlands, train st, industrial complex. Although I realise it is a bit stigmatised and also, reading from various sources, it is one of area with high unemployment rate.

I definitely take your opinion as consideration. Thank you once again.
 
Hi guys I'm also looking around calamvale/Algester, with my budget I could afford a townhouse. Is there any cons or anything I should look out for when buying a townhouse. Or should I save a little more for a house. I'll be able to access more funds once I reval on a property in about 6 months.
 
joejif said:
Hi guys I'm also looking around calamvale/Algester, with my budget I could afford a townhouse. Is there any cons or anything I should look out for when buying a townhouse. Or should I save a little more for a house. I'll be able to access more funds once I reval on a property in about 6 months.
Click to expand...

Apart from your usual IP DD, just check for any BC special levies in place to raise funds for any possible upcoming works within the complex.

In relation to your 2nd question, what does your chosen investment strategy determine your purchasing criteria to be - villas/townhouses and/or houses?

What are you aiming to achieve by purchasing one over the other in relation to your overall Big picture?

Food for thought - property investing is not about 'the' property. Property is merely the vehicle to a higher purpose
 
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