Suburb review requested

[ozitzen]

Hello,
I am considering my first IP interstate and potentially in QLD.
How do you guys rate following suburbs on the scale of 1 to 5 , where 1 being not-recommended and 5 being highly recommended suburb for IP.

Suburbs:

1. Fortitude valley
2. Kangaroo Point
3. Woollangabba
4. Westend
5. Kedron
6. Chermside
7. Carina heights

Thanks in advance

Cheers
Ozitzen

 

[knightm]

ozitzen - welcome to the forum.

It is very difficult to rate a suburb without knowing what it is being rated for.

If you tell the forum a bit more about yourself, you investing goals, you progress thus far and your chosen strategy as to why you have developed this short list I am sure you will get better quality responses.

All the best.

 

[see_change]

Hard to do . We've bought investment properties in suburbs as diverse as Logan and Mosman (Sydney ) . Done well with both .

Cliff

 

[D_One]

To get you started...

Fortitude valley - Party, Cafes, Restaurant, 'San Francisco' of Brisbane
Kangaroo Point - International students, DINKS
Woollangabba - Easy transport (Busway and Trains), Shops, Cafes
Westend - Hippies, restaurants
Kedron -
Chermside - Families
Carina heights - Families

All good suburbs you have picked. Different demographics and price points though. Say for $550k, you will only be able to get units from your first 4 picks, but you will get a decent house in your last 3 picks.

 

[hugh72]

Hello,
I am considering my first IP interstate and potentially in QLD.
How do you guys rate following suburbs on the scale of 1 to 5 , where 1 being not-recommended and 5 being highly recommended suburb for IP.

Suburbs:

1. Fortitude valley
2. Kangaroo Point
3. Woollangabba
4. Westend
5. Kedron
6. Chermside
7. Carina heights

Thanks in advance

Cheers
Ozitzen

All totally different, different types of properties and different price points in the market. Fortitude Valley is mostly units
Couldn't rate them on a scale it comes down to what you are looking for and the individual deals

 

[CosmicTrevor]

The Valley

I will only comment on FV as this is what I am more familiar with. Bear in mind I'm from Sydney so I'm looking at things clinically.

I'd divide FV into the following zones;
1) The sleazy bit (the bit mainly along Brunswick between Wickham and St Pauls Tce).
2) The bit that feels like a wasteland to me (bounded by Gregory Tce, Brookes St, Bowen Bridge Rd and Wickham St).
3) The genuinely cool bits - typically along James St towards New Farm and the streets bordering New Farm.
4) High rise areas - typically along Ann St from Commercial Rd back towards the CBD
5) The Emporium mixed use precinct

There is a lot of supply coming in zones 1, 2 and 4. The upside of this is the gentrification that is occurring - particularly around the RNA. The downside is the potential for poor CG due to oversupply.

Zone 5 is an odd area, it may in fact be the development that triggered the gentrification of the Valley (I can't remember). It has been popular and has arguably Brisbane's best boutique Hotel (The Emporium). I think there is a risk this area will be overshadowed by Gasworks, RNA and James St, however I think it should remain popular with tenants (just not sure about CG).

Zone 3 feels completely different to all of the other areas, you might as well be in a different suburb. I think supply is more constrained in this zone due to council land use rules.

As to whether I would rate FV as a 1 or a 5, it is not that simple. A $400k 1B in zone 2 doesn't compare well to an equivalent product in the better areas that will set you back $430-$450k.

If you are considering FV you should take a look at Teneriffe, Newstead and New Farm as well.

If you are serious, get up there and walk around the place, you will see what I mean when you get there.

I should also apologise to Brisvegans if I have disrespected their territory

Trev