Which Brisbane Suburbs?

HI Guys,

I am looking to buy 2 IPs in Brisbane one unit and a house and plan on holding them for the long term.

From what I can tell it seems prices have risen a decent amount over the last 6-8 months. I don't know Brisbane that well and was wondering if anyone can suggest a decent suburb/s to begin my research that have not risen too much yet? Or locations you think may grow more over the next 5 years?

Ideally I would like a gross yield of around 5%(unit) and 4.5%(house) in a decent suburb within approx 15km of the city.

Thanks,
 
Hi,

I was thinking of buy and hold for the long term and not subdividing. I don't mind if it needs work as long as it can rent for now as I don't have time to organise a reno at the moment.

Budget 400k unit, 500-600k house.
 
Coorparoo is about to go through a large transformation with multiple high rises and commercial developments going in, house would be a stretch at you budget but unit should be doable in an older complex.

Houses you would need to be futher out. You should be able to pick up inside the 10k ring at that price.

Good luck with the hunt
 
Thanks RPI - I will take a look at Coorparoo.

Benvolio - why did you pick these spots? Did you buy recently? Houses or flats?
 
Thanks RPI - I will take a look at Coorparoo.

Benvolio - why did you pick these spots? Did you buy recently? Houses or flats?

I purchased Units and purchased earlier this year. i think inner city Brisbane is low risk. a lot of development going into Brisbane and i dont think you would lose regardless of where you go.

If i lived in Brisbane i would definitely purchase a house if my budget allowed it and i would really take a good look at redcliffe area along with manly / wynnum

that saying, places like coorparoo and nundah are low risk and will show results sooner that other places in brisbane (my opinion only)
 
I've just spent a month or so looking for houses for my middle son to buy as entry level. His budget was up to $500K for a three bedroom house and up to $600K for a four bedroom, two bathroom place.

He ended up buying in Holland Park, four bedrooms one bathroom. Kitchen and bathroom were useable, but really horrible, so now is the time to do it. Before doing that he had the asbestos removed from kitchen, bathroom, back porch and toilet (ceilings and walls), downstairs toilet and small storage room. That came to $4,200 and plastering walls and ceilings upstairs came to $5K but it means he has an (almost) asbestos free house which can only be a good thing going forward.

He ended up getting this four bedroom house for $550K in a nice quiet street in the catchment for Cavendish Road High School (great for future rental potential) and is spending about $5.5K on an Ikea kitchen which includes appliances, about $8K on new bathroom plus second toilet (could have done it for $7K but chose sliding glass shower screen to avoid a swinging door). There is a fair bit of new wiring run whilst walls were down and new bathroom plumbing plus new toilet added and I'm estimating cost of $6K (but I think it will be less).

Estimate to get this to a you-beaut condition, four bed, one shower, two toilet new kitchen house will probably end up being $580K. We will paint through for cost of the paint.

I would think it would rent for $500 per week but he will live there.

We looked at houses between $490K and $620K around Holland Park. The lower end were shabby, small, unattractive or on busy roads. The higher end ones in better streets with more to offer were being snapped up very quickly.
 
thanks Benvolio good to know


wylie - thanks for the info. It is good to hear from someone who has bought recently. How long ago did you buy?
 
thanks Benvolio good to know


wylie - thanks for the info. It is good to hear from someone who has bought recently. How long ago did you buy?

Middle son settled two weeks ago. Currently mid-reno. Should be moving in in another two weeks, all going well. We lost the first week when asbestos removalist pushed us back a week due to having several of his crew off sick, but having tradies happy to be flexible and work around that hiccup means we are now chugging along nicely.
 
I am also looking to invest in northern suburbs of Brisbane. But really struggling to make a decision as to where to buy? Budget is around $400k. Looking at a 8 year old 4 bedroom house in Caboolture for $325k and a 2 bedroom renovated unit near Toombul shopping centre for $365K
 
I am also looking to invest in northern suburbs of Brisbane. But really struggling to make a decision as to where to buy? Budget is around $400k. Looking at a 8 year old 4 bedroom house in Caboolture for $325k and a 2 bedroom renovated unit near Toombul shopping centre for $365K

You might as well just park the money in the bank

You need to sit down and think what makes a good investment

You are not investing in a building, you are investing in the land and for you to make money the land has to be in demand

Not only does it have to be in demand (or have forseeable future potential to be) but it has to be in demand by people with money. If people with money want to live where your land is then your investment will go up

If you buy a flash house that actually depreciates in value (like a car) and your land is in an area where people would choose not to live (caboolture) then your investment may go down!

How?

Because the building you purchased depreciates in value more quickly than the land you own appreciates ( assuming you buy in a better area of caboolture)

So really you want to be buying spmething that is as close to land value as possible which has a dwelling on it which you can rent out for an acceptable yield
 
If I had money for a house and unit I would probably buy a house around springfield lakes (fastest growing region in australia, new hospital, new train station, yield 5%).

For a unit, maybe upper mount gravatt (southside hub with busway, freeway and universities) or chermside region on the northside. You may even be able to buy 3 properties with your budget and you can raise your expectations for yields (at least for now while prices have not taken off). 5-7% yields are achieveable in Brisbane right now (even higher if you go out to logan or ipswich).
 
I just bought in Kedron and Arana Hills. Been meaning to do a write up of it when i have a free hour.

I would recommend Arana Hills, Mitchelton, Everton Park, Stafford (Heights), Chermside, Wavell Heights, Kedron.

If you have got a bit more $$ you could always try and get closer to the city....
 
I've just bought in Chermside. Definitely a lot of development happening around the Westfields. A friend of mine recommended not to buy a unit there as there's an oversupply at the moment.
 
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