thoughts on mango hill/north lakes?
- Thread starter rookie101
- Start date
I live near there in Deception Bay where my PPOR is. Lower socio-economic area than North Lakes, but so are the prices. And the yields are higher. I chose to buy out this way because I see potential for fantastic long-term growth. I also hold IP's in NSW and QLD.
Mango Hill/North Lakes has alot of development activity going on in and around it. The last section of North Lakes is now being developed. So there is no shortage of housing stock on the market. Or rental stock, for that matter.
There are a couple of new land releases opening up adjacent to North Lakes and Mango Hill on the northern side adjacent to Rothwell. Good for construction jobs. Probably not so good for property prices in the next few year IMHO. That said, this whole Moreton Bay area is one of the fastest growing in the country, so the population demand will be here for the long-term.
Westfield North Lakes with all the usual shops/Macca's etc etc. Bunnings nearby in Kippa-Ring. All sorts of little conveniences you would expect in a huge Stockland master planned community.
Public transport fairly basic. Buses only. Travel to the city by car is a nightmare during rush hour along Bruce Highway. As bad as most parts of Sydney I lived in a few years ago. If I was working in the city, I sure wouldn't choose to rent out here. But lots of people do and there are plenty of jobs in other areas of Northern Brisbane and the Redcliffe penninsula. I wouldn't say it is booming, but it will uplift with the rest of QLD as the mining boom really gets into swing. I have no doubt. Don't expect growth like a mining town, of course.
Train is coming (after 150 years or something) and they have started the very beginning ground work. 2015 I think is the current date. Otherwise nearest train is Burpengary or Petrie I would say. Seem to be a bunch of townhouse developments going up in Burpengary near the train station. NO idea if they are good buys or not.
I don't like the covenants and small blocks in North LAkes. That and there are so many houses crammed in on top of each other, they all start to look the same. I reckon it is a lifestyle buy, not a good investment. The vacancy rates are too high, more stock to come and hard to create any value of your own. Yields are not good enough for me either.
I think there are better choices right now in neighbouring suburbs if you are looking for value. The whole area is alot more affordable than much of Brisbane and I think in the medium term it has a much greater potential for upside than many parts of Brisbane. Checkout the medians in adjacent suburbs. See how much some of them have dropped recently and how much stock is available. Also checkout other stats around ownership. There certainly are bargains to be had, but whether they fit your investment strategy or not, I can't tell you.
Feel free to PM me if you would like any more specific opinions. Best of luck,
EV
Mango Hill/North Lakes has alot of development activity going on in and around it. The last section of North Lakes is now being developed. So there is no shortage of housing stock on the market. Or rental stock, for that matter.
There are a couple of new land releases opening up adjacent to North Lakes and Mango Hill on the northern side adjacent to Rothwell. Good for construction jobs. Probably not so good for property prices in the next few year IMHO. That said, this whole Moreton Bay area is one of the fastest growing in the country, so the population demand will be here for the long-term.
Westfield North Lakes with all the usual shops/Macca's etc etc. Bunnings nearby in Kippa-Ring. All sorts of little conveniences you would expect in a huge Stockland master planned community.
Public transport fairly basic. Buses only. Travel to the city by car is a nightmare during rush hour along Bruce Highway. As bad as most parts of Sydney I lived in a few years ago. If I was working in the city, I sure wouldn't choose to rent out here. But lots of people do and there are plenty of jobs in other areas of Northern Brisbane and the Redcliffe penninsula. I wouldn't say it is booming, but it will uplift with the rest of QLD as the mining boom really gets into swing. I have no doubt. Don't expect growth like a mining town, of course.
Train is coming (after 150 years or something) and they have started the very beginning ground work. 2015 I think is the current date. Otherwise nearest train is Burpengary or Petrie I would say. Seem to be a bunch of townhouse developments going up in Burpengary near the train station. NO idea if they are good buys or not.
I don't like the covenants and small blocks in North LAkes. That and there are so many houses crammed in on top of each other, they all start to look the same. I reckon it is a lifestyle buy, not a good investment. The vacancy rates are too high, more stock to come and hard to create any value of your own. Yields are not good enough for me either.
I think there are better choices right now in neighbouring suburbs if you are looking for value. The whole area is alot more affordable than much of Brisbane and I think in the medium term it has a much greater potential for upside than many parts of Brisbane. Checkout the medians in adjacent suburbs. See how much some of them have dropped recently and how much stock is available. Also checkout other stats around ownership. There certainly are bargains to be had, but whether they fit your investment strategy or not, I can't tell you.
Feel free to PM me if you would like any more specific opinions. Best of luck,
EV
Yeah sure. A pool might get you an extra $30k or so. Depends how nice and new it is. A house already with a pool won't appreciate in value at a higher rate than one without though.
just saw this ... looks like more people will be moving towards North side.
New "North Lakes'' west of Caboolture could house 60,000 people after State Government approves master planned area
http://www.couriermail.com.au/questnews/moreton/new-north-lakes-west-of-caboolture/story-fn8m0yu3-1226273382919
New "North Lakes'' west of Caboolture could house 60,000 people after State Government approves master planned area
http://www.couriermail.com.au/questnews/moreton/new-north-lakes-west-of-caboolture/story-fn8m0yu3-1226273382919
Well spotted article headhunter.
This is the type of growth I was referring to. All these people need to live somewhere.
The good: jobs obviously. Local industry and retail. Helps establish moreton as a strong economy in it's own right. Rather than just being an outer Brisbane area. More people should be able to live and work locally
The bad: choked roads. Inadequate public transport of all types. The bruce highway cannot handle current loads, it will be appalling with these extra people. I haven't seen much in the way of integrated bus and passenger rail planning. Will need to research and hassle my local state/federal member.
I reckon it will keep a lid on cg for while. The developers will be working hard to make hay. More supply is not usually great for cg IMO. That said, the cheaper areas should see a rental boom during construction and probably solid CG. Selfishly I believe this will be great for DBay. Best case is it resumes the excellent growth over the early-mid 2000's
Time, as always, will tell.
This is the type of growth I was referring to. All these people need to live somewhere.
The good: jobs obviously. Local industry and retail. Helps establish moreton as a strong economy in it's own right. Rather than just being an outer Brisbane area. More people should be able to live and work locally
The bad: choked roads. Inadequate public transport of all types. The bruce highway cannot handle current loads, it will be appalling with these extra people. I haven't seen much in the way of integrated bus and passenger rail planning. Will need to research and hassle my local state/federal member.
I reckon it will keep a lid on cg for while. The developers will be working hard to make hay. More supply is not usually great for cg IMO. That said, the cheaper areas should see a rental boom during construction and probably solid CG. Selfishly I believe this will be great for DBay. Best case is it resumes the excellent growth over the early-mid 2000's
Time, as always, will tell.
I wouldnt be selling for a few years if I could avoid it. I don't see any real growth for North Lakes with so much supply on the market. And most of that being new stock at prices that are not very attractive to home owners or investors.
We have an IP in North Lakes which is cruising along, not too badly, just stagnant.
I am not concerned about any new release up Wamuran way, out WEST of Caboolture. Who would want to live there when they can have the lovely bay breezes closer to the coast? Coastal land is always dearer than inland, right? Development at Griffin is a potential threat to NL as it is just over the ridge behind Mango Hill and has much more vacant land.
The further out you go, the more ferals. They cant afford to live in DBay, hey, which was the feral capital before they moved to Morayfield and Woodford. I have never seen a feral in North Lakes and I would rather wander around the shops there than at Strathpine, which is my closest.
As for traffic, everyone we know in Moreton works within the shire, not in Brisbane. The new arterial roads are alleviating much of the traffic in and out of NL, if the detractors bothered to look. My tenants love it there and have signed for another two years.
If anyone wants to buy in North Lakes, get something established from the oldest estates. Ours is ten years old now, on 650 m2 and only a kilometre from the primary school and shopping centre.
I personally (as a newbie investor, what would I know?) would prefer to live in Halpine Estate at MangoHill, which will be where the train station is supposed to go. It feels more spacious. Those at NL will still have to drive to the station at Mango Hill or Kinsellas Rd which keeps "moving' on the development maps. Those who live at MH can drive to Westfields in the same time as someone coming from 90% of the NL suburbs.
Also watch out for minor flooding. There are lots of ti trees (indicative of swamp) in the general area, in the parklands, in both MH and NL. You will notice that most of Griffin cant be developed because it is wetlands all the way to the Pine River. The low-lying areas are renowned for flooding.
Hubby and I jokingly say that with enough sea-level rising, our other place at Scarborough will one day be on an island and the NL home will be water-front.
We also seriously looked at Burpengary for an IP as it has the train station. Very "average" and too many unsuitable properties within walking distance to the station. The nice properties that had good prices were right behind the industrial land. All the cheaper places were either backing onto the trainline or the industrial estate just behind the Sunshine Coast motorway or in the street that always floods. The elevated acreage has great bargains ATM for PPOR if anyone is looking for a tree-change.
I am not concerned about any new release up Wamuran way, out WEST of Caboolture. Who would want to live there when they can have the lovely bay breezes closer to the coast? Coastal land is always dearer than inland, right? Development at Griffin is a potential threat to NL as it is just over the ridge behind Mango Hill and has much more vacant land.
The further out you go, the more ferals. They cant afford to live in DBay, hey, which was the feral capital before they moved to Morayfield and Woodford. I have never seen a feral in North Lakes and I would rather wander around the shops there than at Strathpine, which is my closest.
As for traffic, everyone we know in Moreton works within the shire, not in Brisbane. The new arterial roads are alleviating much of the traffic in and out of NL, if the detractors bothered to look. My tenants love it there and have signed for another two years.
If anyone wants to buy in North Lakes, get something established from the oldest estates. Ours is ten years old now, on 650 m2 and only a kilometre from the primary school and shopping centre.
I personally (as a newbie investor, what would I know?) would prefer to live in Halpine Estate at MangoHill, which will be where the train station is supposed to go. It feels more spacious. Those at NL will still have to drive to the station at Mango Hill or Kinsellas Rd which keeps "moving' on the development maps. Those who live at MH can drive to Westfields in the same time as someone coming from 90% of the NL suburbs.
Also watch out for minor flooding. There are lots of ti trees (indicative of swamp) in the general area, in the parklands, in both MH and NL. You will notice that most of Griffin cant be developed because it is wetlands all the way to the Pine River. The low-lying areas are renowned for flooding.
Hubby and I jokingly say that with enough sea-level rising, our other place at Scarborough will one day be on an island and the NL home will be water-front.
We also seriously looked at Burpengary for an IP as it has the train station. Very "average" and too many unsuitable properties within walking distance to the station. The nice properties that had good prices were right behind the industrial land. All the cheaper places were either backing onto the trainline or the industrial estate just behind the Sunshine Coast motorway or in the street that always floods. The elevated acreage has great bargains ATM for PPOR if anyone is looking for a tree-change.
Well from what I can see, prices are plummeting here in north lakes?? we sold out of Sydney market and bought here last year. I rely am regretting it, is there any hope of walking away from this property after doing minor cosmetic renos at a profit? 401 000 we paid for it! 3 bedroom needs new kitchen and bathroom 
doh!
doh!