South East Queensland? Adelaide? Melbourne?

[queenisis]

Hi,

I'm from Perth and my husband and I are looking to buy our first IP with a budget of up to $300k, we would prefer a house on it's own block with little maintenance/repairs required.

After doing some research, we are looking in the Brisbane/ Gold Coast corridor (eg, Coomera, Upper Coomera, Beenleigh, Logan area... Crestmead, Underwood, Shailer Park, Tenah Merah). What are your hot tips for soon-to-boom suburbs in this corridor?

Should we look at a southern suburb of Brisbane instead? Are there any suburbs left in Brisbane that would have houses under $300k in decent condition? Any suburbs left under 15km to the city?

Do you think this Brisbane/GC area will boom in the next couple of years? What's your definition of "boom"?

Alternatively, would it be better to look elsewhere such as Adelaide or Melbourne? Although, I think Melbourne is too expensive now and Adelaide just doesn't seem to have any appeal to me even though house prices are cheap. What about Townsville and Cairns?

Okay, if you had $300k to spend on an investment property right now, where would you buy and what would you buy?!

Sorry for all the questions, but there seems to be so much information out there and I have received a lot of differing advice from people (which is to be expected, I guess!). Anyway, your opinions would be greatly appreciated, too!

Thanks in advance,

QI

 

[steveadl]

Don't get too caught up on having to catch the next boom.

Obviously I like Adelaide RE (check the Elizabeth thread as to why I believe Adelaide is a good place to buy at the moment ) but I must say, I was very impressed when I went up to the Gold Coast in June. I would definitely be seriously thinking about buying in the GC corridor if I had the funds available now.

I can definitely see GC growing into a much larger city long term as it offers a great lifestyle. I also like the proximity to Brisbane, so for that reason I personally would buy in GC area as opposed to in Brisbane itself.

Just my two cents

 

[queenisis]

Thanks for the reply, Steve! I, too, would like to buy in the GC as my first preference, I really like the area. I'm a big fan of Queensland!

Although, I did hear that the uranium mine would increase property values in Adelaide.

What's everyone's thoughts on the mining and resources industry contributing to a boom in SA?

QI

 

[steveadl]

Thanks for the reply, Steve! I, too, would like to buy in the GC as my first preference, I really like the area. I'm a big fan of Queensland!

Although, I did hear that the uranium mine would increase property values in Adelaide.

What's everyone's thoughts on the mining and resources industry contributing to a boom in SA?

QI

I would have a read through this thread for people's opinions on the SA market, and in particular the coming mining boom.

http://www.somersoft.com/forums/showthread.php?t=31919

Needless to say, I'm very bullish on the SA/Adelaide property market

 

[Cherry Pro]

Hello QueenIsis

With $300k, I would definitely look at buying in the Brisbane - Gold Coast corridoor. No way you can go wrong there though I beleive the rental yields are not as high as Melbourne or Adelaide.

Good luck !

 

[steveadl]

Hello QueenIsis

With $300k, I would definitely look at buying in the Brisbane - Gold Coast corridoor. No way you can go wrong there though I beleive the rental yields are not as high as Melbourne or Adelaide.

Good luck !

Rental yields are higher in Adelaide (some areas anyway), but I must say - I can't see anyone going wrong buying in the Gold Coast corridor, fantastic place, and only going to get bigger!

 

[queenisis]

After doing more research I'm now looking at the Northern outer suburbs of Brisbane.

Although, I still believe that the GC corridor has plenty of opportunities on offer. If I was to buy in the GC corridor I would look at the suburbs in the Logan Council area or Coomera (although, that's become a bit pricey now).

 

[knightm]

I have 1 in Bethania, my brother went up earlier this year and added 2 more up there (bethania and edens landing) and if I had the money I would get another there - the fundamentals and demographics are just so good. If I was gonna take a bet on uranium I would go for yeild and get a place in roxby downs or maybe look at one of the port towns near there

 

[Modal Harmony]

Feedback from SE QLD

Hi QI!

We have 5 IP's in the Logan to Gold Coast corridor and the yields are quite fair (>= 5%). Would heartily recommend the area (as others have said) since development is still quite strong, in particular Eden's Landing, Eagleby and Beenleigh.

 

[singingtheblues]

knightm - i'm not sure you'd get alot for $300k in roxby these days - but i agree with the port towns - with $300k - i'd try to grab 2 x $150k places in port augusta -

or a $150k in port augusta & a $150k unit in the melbourne suburbs to split the risk

 

[sue78]

After doing more research I'm now looking at the Northern outer suburbs of Brisbane.

Although, I still believe that the GC corridor has plenty of opportunities on offer. If I was to buy in the GC corridor I would look at the suburbs in the Logan Council area or Coomera (although, that's become a bit pricey now).

there's a property boom right now all over brisbane...some will say the logan motorway corridor, inner west side around Corinda is very very popular, nth side (some good capital growth but really can't stand nth side, gympie rd and traffic is just horrendous), sth side which i guess is also part of the brisbane - gold coast corridor.

prices have gone up in even ipswich and toowoomba.

i think prices in brisbane will grow to level with perth and hit a median of $450to $550k.

GC is affordable now that brisbane prices have reached the same level as GC.

 

[tiger]

I'd go Frankston in Melbourne.. certainly heaps there for under 300k and there's been alot of talk about Frankston here lately.

 

[Tin Tin]

Hi quenisis,

I have been in Brissie and investing for about 10 years now.. went off the boil for awhile, did some travelling and am now getting back into the market. I have been asking myself the same question. 3 years ago i would never have thought of investing in ipswich. now though with all the development out there - shopping centres, new freeways being built over 5-10 years, the infrastructure is huge... That is option one..

I am with you though, the Bris - GC is a great option, not much for under 300k at the moment yet i saw a place in sunnybank hills a few nights back for around that price.. Seemed pretty cheap to me yet am awaiting a sale of a property so could not buy. All those areas you mentioned will be fine, just hard to know which ones will outperform

 

[Stella]

We did the same thing - looked at this area, then that area then onto another area - all the while trying to figure out which was going to 'boom'!
In the end the other half got sick of looking at houses every weekend and we bought in the area we were currently looking in - Ipswich - because we thought it has the most going for it.
Some of the other areas may out perform Ipswich or they may not. I'm sure some of the more experienced will correct me if I'm wrong, but 100% picking the next 'boom' is crystal ball stuff - better to jump on board & take whatever GC comes your way instead of missing the boat everywhere? Buying a quality property with the capacity for CG (not neccessarily boom stuff)should be the way to go IMHO.

 

[units4me]

I'd go for a solidly built, older type 2 BR unit in Surfers Paradise, endless supply of big paying tenants, bugger all maintenence and the area is just going ahead in leaps and bounds.

In future, i reckon this will become Australia's most expensive suburb.

My opinion only.