Where to buy in Brisbane???

Hi. I live in Adelaide and am looking to buy a IP in Brisbane/Gold Coast as it has higher rental returns than Adelaide... I'm looking to buy something in the low $400K... Any suggestion would be fantastic as I only have some limit research in Brisbane and don't know a lot of suburb just yet... So where should I start? :)

A friend in an Investors Club suggest I buy an 8yrs old 3BR villa in a complex for about $380K in Eight Mile Plains, rent about $400/week... Corp fees about $3000/annual... :eek: or a Brand New 3BR Townhouse to be built in Carseldine for $385K with expect rent about $370/week, corp fees about $2400/a... These seems sound ok but I do want to buy a property with it own piece of land to it name... What do you think?

Thanks for your comments..
 
Hi. I live in Adelaide and am looking to buy a IP in Brisbane/Gold Coast as it has higher rental returns than Adelaide... I'm looking to buy something in the low $400K... Any suggestion would be fantastic as I only have some limit research in Brisbane and don't know a lot of suburb just yet... So where should I start? :)

You need to be sure you're comparing apples with apples. IMO, there are a lot higher proportion of managed complexes in SEQ with relatively high BC. So your higher rental (based on asking price vs. rent) is eaten away by the BC fees.

A friend in an Investors Club suggest I buy an 8yrs old 3BR villa in a complex for about $380K in Eight Mile Plains, rent about $400/week... Corp fees about $3000/annual... :eek: or a Brand New 3BR Townhouse to be built in Carseldine for $385K with expect rent about $370/week, corp fees about $2400/a... These seems sound ok but I do want to buy a property with it own piece of land to it name... What do you think?

Thanks for your comments..

We have one of these (actually bought brand new in 2001), and one sold in the complex recently for $360k renting @ $415pw. But those BC fees start to bite! ;) Great location - handy to uni, ANZ stadium, buses, shopping centres, both motorways, about 12-ish km to CBD. Would I buy there now? Probably!

Maybe you need to go to Brissy for a weekend and drive around a few different locations to suss them out for yourself.
 
Personally, I don't buy villas or townhouses. I don't like having to pay the strata fees and the fact that I'd be very limited in adding value to them.

I have a highset house in Beenleigh, which is between Gold Coast & Brisbane. It has performed well over the last 5 years, both in capital growth and rental yield. Very low vacancy rate.
 
Personally, I don't buy villas or townhouses. I don't like having to pay the strata fees and the fact that I'd be very limited in adding value to them.

I have a highset house in Beenleigh, which is between Gold Coast & Brisbane. It has performed well over the last 5 years, both in capital growth and rental yield. Very low vacancy rate.

For some reason, for us, when buying in SEQ (2 of 4 IPs), we prefer a managed complex. The BC is, in some ways, a form of tax-deducible forced savings. eg, We'll be getting external painting done next year, and it won't cost us anything as it comes from the sinking fund.

Our Eight Mile Plains property has had only 1 day of vacancy in the 9 years we've owned it! I put that down largely to the focus of the on-site manager. But I whole-heartedly agree that there is little we can do to add value or differentiate our product from the others in the complex. A/C, security windows, etc, only go so far!

Horses for courses. And as we gain more experience, I suspect that we will move away from these.
 
I prefer houses for capital growth. I have one townhouse which has it's advantages and disadvantages. Advantages - for the first couple of years I would forgot I even owned it - very hassle free. Disadvantages - Disagreements with onsite managers and you don't have a choice but use them to manage your property.
On a 105% loan it just about pays for itself though. It's a large complex with onsite managers which seems to be how the newer townhouse complexes are run in Bris.
I like Beenleigh and surrounding suburbs but only with a nice view.
Algester, runcorn and surrounds isn't bad.
Units (6 packs) Greenslopes, Coorparoo and surrounds- i think you can still buy under $400000. Be aware though that some older complexes may have some big R&M on common property.
Bayside area would be worth a look.
I don't know northern suburbs very well.
I'd consider investing in Toowong too.
 
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INVSTOR, you usually do have the option to use a PM external to the complex. Where would such a condition exist: "You must use the on site manager"? In the purchase contract? If you're dissatisfied with your on-site mgr, maybe you should check whether you have any obligations to continue using them.

We feel that by using the on-site manager, issues are attended to quicker, etc. And I would think that any externally managed units would get less "attention" from the on-site mgr.
 
tHANKs for pointing that out wobbycarly. I assumed all the newer complexes were run like that.
They told me it was a condition of purchasing it that I had to sign up the onsite managers if it wasn't owner occupied. The selling agent was also one of the onsite managers. I'll take another look at my contracts!!
 
things do run smoothly using them though and it would be in their best interests to choose the best tenants, i know they knock back a lot of applications.
I think I've sorted them out now anyway.
 
Thanks very much for all the replies... Do think whether I still can find a bargain within 10-15kms to Brisbane Cbd for low $400K? What's about Keperra? I saw some house for sale on Realestate.com
for around the low $400k and it's only about 9km to the CBD? But I heard it has some social/unemployment issues?
 
Personally, I don't buy villas or townhouses. I don't like having to pay the strata fees and the fact that I'd be very limited in adding value to them.

Units and townhouses are pretty good.

Why not look at buying a whole bunch of units unstrata'd (or as small as 2 dwellings - Duplex), so you can do what you want with them, and then strata them.

F
 
What's about Keperra? I saw some house for sale on Realestate.com for around the low $400k and it's only about 9km to the CBD? But I heard it has some social/unemployment issues?
I've got friends in Keperra. They've never mentioned about social/unemployment issues. If there were problems there, then they'd only be minor. I can't see how you can go wrong in Keperra. By the way, I've got no direct interest in the suburb so am not trying to push my own barrow.
 
Thanks very much for all the replies... Do think whether I still can find a bargain within 10-15kms to Brisbane Cbd for low $400K? What's about Keperra? I saw some house for sale on Realestate.com
for around the low $400k and it's only about 9km to the CBD? But I heard it has some social/unemployment issues?

Maybe have a look at Rocklea on the inner southside in Brisbane,, there is still some splitters in that area in the 350k range,on large blocks btw some parts do flood,but very easy to rent,close too everything,,Aldi,Bunnings,Garden City,very good transport,we have 2 renters in that area one of the best investment we ever made..willair..
 
Rocklea?

For the price, distance to Cbd, block size... Rocklea look like a good area to invest? But why the price still low compare to other at the same distance??? Can you please also tell me which part do have problem with flooding? Thanks!
 
Rocklea..

Have a look at http://flood.brisbane.qld.gov.au/floodwise_property_report/ in conjunction with google maps street view and you can get an idea of the flood levels. You'll notice that all the homes are are high set and you can't legally build under. BCC note in the flood report what the minimum habitable level is. See the above link.

Imo, Rocklea is a lower socio-economic area than Keperra.. Beaudesert Rd is very busy with an industrial feal about it.. Ipswich Mwy obviously very busy, but I think the noise barriers/trees do a pretty good job to block the noise and visual impact.

An area I was looking at a while ago was at the Fruitgrove train station which is 7 stops further south of Rocklea and more expensive :eek: So Rocklea could be pretty good value if the building regs due to the flood levels aren't prohibitive and you can see the potential?
 
For the price, distance to Cbd, block size... Rocklea look like a good area to invest? But why the price still low compare to other at the same distance??? Can you please also tell me which part do have problem with flooding? Thanks!
Best off just looking at the BCC, flood maps,both of the properties we have are in the flood zone,i think from the 1974 floods zone the water was about
3 mts above the top of the roof line on both of them and when it rain the tenants have water views,not that has ever worried me,, just look at the facts,and worry about the problems after they happen,if i was starting out again Rocklea would be where i would start again,it is central to everything...
..good luck willair..
 
Where to buy in Brisbane?

I would recommend Beenleigh. Just bought a renovated townhouse for $223k - getting $275 a week rent. Beenleigh has very good capital gain as well as good returns.
 
Stafford?

Hi. What do you think of Stafford? Only 7km to CBD and I checked on realestate.com, I can see 3BR house for sale in the mid-high $300K? :confused:
 
Stafford is a nice-ish suburb, comparable to Keperra I'd say, although no trains. Again nice pockets, and pockets I wouldn't stray into in daylight hours.
Choose wisely there and you could do well, same as Keperra.
 
Hi. What do you think of Stafford? Only 7km to CBD and I checked on realestate.com, I can see 3BR house for sale in the mid-high $300K? :confused:

The $300k free standing properties in Stafford are going to be on busy roads, like Webster, Stafford or Appleby roads and this will restrict capital growth. Unless, of course, you can get a DA and build apartments. :eek::D

Stafford has had great capital growth (14% on average from memory). There are a few housing commission pockets, but it's not Slumsville.

Some parts of Stafford have great views to the Brisbane CBD. These properties have a price tag to match. :)

Most houses are 3 bed, 1 bath, 1 car. Very few 4 bedroom houses, and even fewer with a double garage (as in, side by side) - NOT two single garages or tandem. :p

You should be able to pick up a $400kish property that needs some renovation.

-- MJ.
 
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