One less after I got out few months back. I can't speak for the suburb's future but I'm glad I got out, be it about 3 years after I wanted to.
Held my house for 9 years and was the most trouble of any property I have owned. Bad run of tenants, complacent, expensive, lazy PM and nothing special about the area other than cheap. Exacerbated by not being a local.
Got greedy at the peak of the market and didn't sell then. Then took forever to get the next offer, which fell thought. Still a lot on market as mentioned, perhaps there is a bargain to be found. It will be come good, again.
3 worst things about D Bay:
- Property managers doing slack job ....sorry, wrong choice of word - slack infers some effort.
- Property managers renting to the remaining riff raff instead of depriving them of accommodation in the area.
- Property managers with the same opinion of the area as 15 years ago, not seeing the change.
Oh, did I mention property managers
Twodogs, I bet your PM was either B@D or RW, the two biggest in the area and worst for putting bad tennats in. Property managers are not much better over the entire peninsular. It only takes 1 or 2 bad tenants in a street to affect the whole street, and this ebbs and flows with tenants. I offered to write an article for the local paper highlighting the need for better PM's in the area with a fresh attitude to the changing area (and to give the agents a wake up call)....did not surprise me that I did not get a reply as it would conflict with their advertising income. I have been lucky, nothing worse than overgrown gardens and some minor accidental damage, but I do present my house better than some others in the area so I do get some better applicants.
Seriously, the area is not too bad, the waterfront is so peaceful and relaxing compared to Redcliffe, I will often take my dinner down there to eat when up there. Never felt the slightest bit of fear for my safety, and have far less fear of theft than I do at home in Sydney. There is more neighbourly feel to the area than where I live in Sydney, it surprises me how willing neighbours are to help each other, lend things, most people I pass when out for a walk taking their dog for a walk or watering the garden say hello. I could live there easily. Half the rough nuts are not as rough as they look, I had a couple of neighbours who looked rough, a bit untidy, but were great neighbours ...better than a #&*#@# o/o I had living next to me in Sydney for 7 years ...a very long 7 years. There is a quite a bit of renovation and rebuilds going on, although the narrow streets will always be challenged compared to the wider streets surrounding them.
The downtown older area near the water must have the best potential, there are much newer areas further back from the water (beyond Park Rd, Moreton Downs etc) but I don't understand why people would bother living in DBay if not near the water - what is the advantage. North Lakes is a bit different, a lot of new housing ....and a
big difference in $$$ compared to over the fence/narrow green corridor separating it from Moreton Downs. This has to rub off, spill over into the much cheaper area and nearer the water with better breazes,
In hind sight I would have been better selling at the top of the market in 2009?, would have made a semi reasonable buck on my buy in early 2007 and renovation, probably would have got more than I expected based on a sale a few months ago which sold back then for more than I thought mine was worth and not as good.
For an area where you can buy for mid $200's ATM
and within 500m of the waterfront
and with a train coming in a few years only 5-10 min drive to station so that you don't have to drive into Brisbane ........... I've held on this long I may as well wait it out. CG prior to the SEQ fall had been very good over previous 15 years, averaging 15%.