Thoughts on buying in brisbane??

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From: Rob Dalla


I would just like to say what a great sight this is.I'm only new to investing in property so i have still a great deal to learn!
I was just wondering if i could get some peoples views about buying property in brisbane.With the predictions forecasted for strong growth over the next few years and still relatively low prices is this a good option?Sydney and Melbourne have had strong growth,is brisbane next?
Any info would be great.
I was one of those people who always thought you had to have lots of cash to invest in property and always thought it could never be done.That was until i started reading and researching about property investing.I have purchased 2 properties in the last two years and i plan on expanding a lot more.Property investing has changed my outlook on life.
"be all you can be"
cheers
Rob
 
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Reply: 1
From: J Parker


Rob,
I just bought a house in Brisbane and was amazed at the very big sellers market in the area that I bought in (southside within 8 km of CBD). I did my research many months before I went up but still found that prices were moving up and up! To give you an example, a house that I looked at in one street in Camp Hill was a nice post war 3 bed that sold the day it was listed for $275K. My aunt just rang me yesterday to tell me the house three down (she lives next door) from it is on the market for low $300's, and it's very similar. She was astounded herself.

I eventually bought one in Balmoral and was very happy with it, though it won't be positively geared for quite a while yet! I intend to hold it for the long term anyway. I missed out on quite a few houses that I expressed interest in, simply because they sold before I could put an offer in! The house I bought was listed for two days only- not very good for bargaining power at the moment.
As I said, I found it to be a real sellers market and very busy- I will buy up there again, but then again I love Brisbane! It's a great city! Good luck if you decide to buy up there. Let me know via e-mail if you are buying in the same area and I'll give you some names of helpful agents.
Cheers, Jacque :)
 
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Reply: 1.1
From: Rolly Taddeo


you have more control of your investment property by investing in your own back yard than investing abroad.
Rolly
 
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Reply: 1.1.1
From: J Parker


Yes Rolly, I agree that you have more control. However, the profits and cap gains are not always there in your own backyard. Plus other little nasties like land tax tend to start creeping up on you when you stay within your own state all the time.
I like to spread my properties anyway- not keeping all my eggs in one basket, so to speak!
Cheers, Jacque :)
 
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Reply: 1.1.1.1
From: Rob Dalla


Thanks for your info Jacque
I was considering purchasing a property in the wynnum west area.I have spoken to a few real estate agents and had a look around the area.One agent said he could provide a house and land package for just under $200000 renting at $230/$240 per week.He said once built could sell for 215k plus.Although i am looking to hold long term would this be a good option considering i would get full depreciation?Any thoughts or advice appreciated.
Thanks Rob :)
 
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