Where to buy next?

[Jenko]

Where to buy next?

I think its maybe time to buy again.. Just wondering where people are thinking the best prospects are in QLD at the moment? Looking for a house $400k or under, good rental return with the possibility of good CG.
So far I have been on the net looking at
? Gold Coast: plus side- CG, with the weakening Aussie dollar tourism is bound to increase. Also the commonwealth games in 2018. Down side- poor yield. High buy in price.

? Cairns: plus side- CG, tourism and infrastructure spending. Down side- not great yield. High unemployment.

? Sunshine Coast: plus side- CG, tourism and infrastructure spending. Down side- poor yield. Lots of available land.

? Brisbane: plus side- good CG expected. Down side: high buy in price. Poor yield.

? Logan: plus side- good yield, not sure about the CG prospects??
Down side- picking a good area..

Any ideals?

 

[hugh72]

Brissy,Logan,Toowoomba,Gold Coast and maybe Cairns would be my areas of interest if I was looking for more Qld purchases.
I agree with your general comments regarding Cairns but yields can be okay depending on the type of stock. Unemployment has just increased to 9% but tourism throughout Qld should pick up with the lower AUD.
I Like Toowoomba but market may have already moved, haven't been following it recently.
Gold Coast- don't know the market but must be near the bottom of the cycle?
Logan and Brissy generally has been commented on in other threads
Rockhampton has a solid diverse economy compared to GLA or Mackay and hasn't been as affected by any down turn in mining IMO. Own some stock there, rents are flat, spoke to our PM last week and she indicated that they had a few units which had been vacant since Xmas.
Can't think of anywhere else at the moment, lots of areas in regional Qld weak as I think you know from your previous posts
Hugh

 

[knightm]

Personally from that list a basic little house out the back of southport would be my pick. Not many under 400 but a few.

There are other good markets sub 400k closer to sydney if you want that kind of thing too.

 

[Jenko]

What markets closer to Sydney do you think might be worth a look?

 

[knightm]

What markets closer to Sydney do you think might be worth a look?

Well Im a bit biased but Illawarra/South Coast is one. Central coast and north to Newcastle is another. It really depends on how far from the city you can tolerate, what your goals are etc.

 

[strongy1986]

Just out of interest why does no one ever mention townsville in qld threads?

Mackay and rocky have nothing on townsville

 

[knightm]

Just out of interest why does no one ever mention townsville in qld threads?

Mackay and rocky have nothing on townsville

ITs been out of favour lately with soft market but previously has been popular. Do you think its staging a comeback?

 

[Jenko]

Just don't know enough about Townsville.. Had a bit of a look around on net but just can't work out where and what would be good buying.. Sent a couple of enquiries away still waiting on replies.

 

[strongy1986]

ITs been out of favour lately with soft market but previously has been popular. Do you think its staging a comeback?

It's actually a nice place, fairly trendy by Qld standards - north ward area on the esplanade, palmer st south townsville
Wages are well above average
It would probably be about the 10th biggest city in australia yet land is much cheaper than comparable cities such as Geelong - who have low wages

The market has been stagnant there for a long time, we bought a queenslander on a 810sqm corner block (two titles) for 398 in west end - previous sale was 2007 - 480k
So 8 years of holding and down almost 100k

Here comes the sweetener

All land zoned general residential is now able to be dual occupancy under the new town plan.
Tonnes of splitter blocks as well

Negatives -
Employment is soft
Building costs are high, so land is worth a little less than you would think and is hard to sell

But you can't have everything and low prices

 

[strongy1986]

Just don't know enough about Townsville.. Had a bit of a look around on net but just can't work out where and what would be good buying.. Sent a couple of enquiries away still waiting on replies.

List of spots in order of preference -

North ward
Castle hill
Townsville city
Belgian gardens
South townsville - north of boundary st (bit funny on the south side)
West end - further east is better , it's really two suburbs in one, the places closer to garbutt are not very desirable
Mysterton, Hyde park, hermit park

After that maybe look for good opportunities in pimlico- good zoning for long term holds

 

[Jenko]

Anyone got an opions on Redbank Plains & Brown Plains..

 

[Bhp19]

List of spots in order of preference -

North ward
Castle hill
Townsville city
Belgian gardens
South townsville - north of boundary st (bit funny on the south side)
West end - further east is better , it's really two suburbs in one, the places closer to garbutt are not very desirable
Mysterton, Hyde park, hermit park

After that maybe look for good opportunities in pimlico- good zoning for long term holds

How about Aitkenvale with it's proximity to the Stockland shopping centre, Townsville Hospital, James Cook Uni and Lavarack barracks?

 

[Azazel]

Where to buy next?

? Cairns: plus side- CG, tourism and infrastructure spending. Down side- not great yield. High unemployment.

? Sunshine Coast: plus side- CG, tourism and infrastructure spending. Down side- poor yield. Lots of available land.

? Brisbane: plus side- good CG expected. Down side: high buy in price. Poor yield.

? Logan: plus side- good yield, not sure about the CG prospects??
Down side- picking a good area..

Any ideals?

Still I good time to buy in Cairns at the moment, decent yield if you can find the right place. Some dodgy areas if you're not familiar with it, can't really go wrong with a 4-2-2 in a newer area like White Rock, vacancy rate pretty low, 10kms to the City. Some haggling possible if you're into that kind of thing.

Brisbane still has some good places for people who are familiar with it, some out of towners could find themselves with a not so optimal location unless they do plenty of research. And all the cheapies are gone ; )

Logan - even worse if you don't know the area, could be a bad decision in the medium term if you take a punt.

 

[Azazel]

Well Im a bit biased but Illawarra/South Coast is one. Central coast and north to Newcastle is another. It really depends on how far from the city you can tolerate, what your goals are etc.

I would 2nd the South Coast, it's starting to move pretty well, some good buys around.

 

[Azazel]

Just out of interest why does no one ever mention townsville in qld threads?

Mackay and rocky have nothing on townsville

Good time to look at Townsville again I think, some bargains around. It's been flat for a while

 

[strongy1986]

How about Aitkenvale with it's proximity to the Stockland shopping centre, Townsville Hospital, James Cook Uni and Lavarack barracks?

I think it has good development opps long term like pimlico - good zonings

As for being close to all those things..

Uni - students don't buy houses , no money
Barracks - soldiers don't buy houses , subsidised rent
Stockland shopping centre - if I was looking to buy I really wouldn't rate being too close to a big shopping centre
If you did rate it then there's Castletown Hyde park anyway

I think all of those things make it easier to find tenants which is good but not really things that lead to capital growth

Plenty of crappy places with all of the above amenities , it's not like you have to drive far in townsville anyway

Aitkenvale has some cheap houses on big blocks which I always like so I wouldn't scratch it completely

 

[Cherry Pro]

What about Ipswich and its surrounds ? Some pretty nice Queenslanders and the yields are there but stay away from anything that was flood affected.

Bundamba
Brassall
Goodna
Booval
(in no particular order)

 

[Azazel]

What about Ipswich and its surrounds?
Goodna

Good? Nah

 

[Bhp19]

I think it has good development opps long term like pimlico - good zonings

As for being close to all those things..

Uni - students don't buy houses , no money
Barracks - soldiers don't buy houses , subsidised rent
Stockland shopping centre - if I was looking to buy I really wouldn't rate being too close to a big shopping centre
If you did rate it then there's Castletown Hyde park anyway

I think all of those things make it easier to find tenants which is good but not really things that lead to capital growth

Plenty of crappy places with all of the above amenities , it's not like you have to drive far in townsville anyway

Aitkenvale has some cheap houses on big blocks which I always like so I wouldn't scratch it completely

Sorry Strongy, I had my development goggles on, I definitely agree that Aitkenvale has lots of scope for splitter blocks or multi unit developments which should then cater to students, nurses, retail staff etc.
I'd be looking to develop and hold as well.

 

[MIW]

Where to buy next?

I think its maybe time to buy again.. Just wondering where people are thinking the best prospects are in QLD at the moment? Looking for a house $400k or under, good rental return with the possibility of good CG.
So far I have been on the net looking at
? Gold Coast: plus side- CG, with the weakening Aussie dollar tourism is bound to increase. Also the commonwealth games in 2018. Down side- poor yield. High buy in price.

? Cairns: plus side- CG, tourism and infrastructure spending. Down side- not great yield. High unemployment.

? Sunshine Coast: plus side- CG, tourism and infrastructure spending. Down side- poor yield. Lots of available land.

? Brisbane: plus side- good CG expected. Down side: high buy in price. Poor yield.

? Logan: plus side- good yield, not sure about the CG prospects??
Down side- picking a good area..

Any ideals?

What is your investment strategy CF or CG? Your places are so diverse, what are the growth prospects there (jobs, infrastructure, population, incomes, new company or government investments, etc...), that should help you narrow down your search... Adopt top down approach, rather than looking at places only, I hope that helps!