Which Brisbane suburbs?

H

harry

I live in NSW and wish to buy 3 IP's in next 3-6 months - Melbourne, Brisbane and maybe a unit in Sydney if funds left over. Have $2m to invest ($1m plus 50% LVR). Have 11 properties in NSW of which 3 are in Sydney.

I don't know Brisbane very well and due to not living there my research time is limited. Looking for a 2-3 bedroom house (not strata, I like terraces) within 5-10Km from CBD in price range $700,000 - $900,000. I wish to narrow my search area and realise I will purchase without the same detailed knowledge I have in NSW/Sydney. I invest for Capital Growth but usually find rents OK with such properties. Looking for something similar to Sydney's Inner West (I have properties in Newtown, Glebe & Alexandria) or Balmain/Lillyfield or East such as bondi/ coogee though that area is more expensive. I could use a BA but enjoy searching my own properties and had not so good experience with one recently.

Appreciate any advice on suburbs or specific areas/streets. Also Estate agent you may recommend.

I have posted a similar thread regarding Melbourne. Have received good feedback and visiting Melbourne next weekend. Intend to visit Brisbane next month.

Thanking you.
Harry
 
"Terrace" in Brisbane usually refers to the gardens built on steep slopes - there aren't too many terrace houses around in the sense of a Syd or Mel terrace, but having lived here less than a couple of years maybe I haven't discovered them yet.

In that price range you are looking at mainly trad queenslanders in areas like Bulimba, Lutwyche, Balmoral, Norman Park, Windsor and Ash Grove.

Have fun researching - if I was in your position I'd be looking at diversifying into small commercial rather than IP's in a different area of the country - have you given that any thought?
 
Terraces in Brisbane

There may be some terraces in Spring Hill. About as inner city as you can get. Near the Brisbane Grammar School and St Andrew'a Hospital. Between Water St and St Paul's Terrace.

I know there are beautiful authentic really old ones, plus a few streets have had new ones built in the older style. Way out of my price-range, sorry, so I havent taken any notice of them except to drool when i had to drive past once about ten years ago.
 
We had our wedding reception in Petrie Mansions in 1986. I think it was three terraces knocked into one and which was converted back into separate terraces a number of years ago.

This is one of them. I think that would be pretty cool to live there, but lots of traffic :eek:.
 
Yep, that's what the advertisment said - Petrie Mansions.

Traffic's actually not that bad. I've been living off Petrie Terrace for close to a year now and not including game days and 5:15pm weekdays, it's pretty good traffic wise. These terraces would cop a bit more noise than our place though as they front the road. It's an interesting area to live in.

They have rear access for parking, so you can get to them from the ICB or off Petrie Tce/Musgrave Rd.
 
I was thinking of you on the weekend when driving along Petrie Tce. I thought Petrie Mansions was commercial property? There are residential terraces in the streets running off there though.
 
There's very few examples of Sydney style terrace houses in Brisbane.

The streets that run off Petrie Tce (mentioned above) to the north of Caxton St still have some. As does Paddington to my knowledge. Spring Hill has some along Gregory Tce and the streets that run off it. And there's some in an inner southern suburb across from a park, pictured below. New Farm may have some low set terraces still.

I'd keep an open mind about fixating on terraces until you get up here. The climate and lifestyle favors a different style of abode.

Nevertheless, when you're up, and because of their rarity, I'd recommend you either door knock or discover otherwise who the owners are, and express your interest directly to them. You may wait years before seeing one come on the market.

terraces1.gif
 
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How did your trip go, Harry?
Be interested to hear your summation of Petrie Tce and inner city dwellings. I have a house there which is very sweet - great spot.
 
I will let you know how I go in Brisbane when I get there - JACQUE. I have just completed purchasing a property in Melbourne which took more time than I expected. Now looking to purchase in Sydney and/or Brisbane by the end of year or early next year. Not rushing the next purchase as market has cooled slightly.Took some time out for Sydney & Melbourne marathons.
Appreciate any further feedback re. Brisbane - in particular Petrie Terrace, Spring Hill, Nufarm & Norman Park.
Regards,
Harry
 
queensland houses

I don't know if my advice is any good but I am from Adelaide and have 2 houses in Brisbane. What I'd like to say is that having only bought brick or stone houses I found it hard to pay the same amount for a 'wooden' house in Brisbane. My first purchase was in Sunnybank (south 14K) years ago. There are alot of wood clad high set type houses here, some trad Queenslanders, others post war high set with under storage etc but the thing I'm trying to say is that there is so much maintenance with those wood clad houses compared to the 50s type brick houses in SA which cost about the same. Also renovating, so many times the under storage is too low so there are huge costs involved.

My second purchase was brick 80s in Ferny Hills (north - 12 K). Now that one is far less maintenance and the reno will be cheap. As far as the long term cap growth goes the data shows higher median price at Sunnybank but I guess the areas are so different that its hard to compare. Only time will tell how good the purchases will be but I prefer the more solid house.

anyway my 2c worth even though Harry has much more choice considering the the amount he has to invest etc.
 
PS - I am currently in Brisbane visiting my houses and this has renewed my interest in Brisb realestate. I am staying in Ashgrove and have friends who have bought here. Its a lovely area but again the renovation are expensive but the capital gains are great. Last time stayed in NewFarm and considered buying an apartment there. It is really buzzing.
 
arriety said:
PS - I am currently in Brisbane visiting my houses and this has renewed my interest in Brisb realestate. I am staying in Ashgrove and have friends who have bought here. Its a lovely area but again the renovation are expensive but the capital gains are great. Last time stayed in NewFarm and considered buying an apartment there. It is really buzzing.
Click to expand...
If you are in Brisbane this weekend then it's a wonderful time to be finding out whether your property has potential issues with overland flow or flooding.

Inspected a property today that had a water feature up to the brickwork added by the current rain :)
 
Andrew_A said:
If you are in Brisbane this weekend then it's a wonderful time to be finding out whether your property has potential issues with overland flow or flooding.

Inspected a property today that had a water feature up to the brickwork added by the current rain :)
Click to expand...

haha. Yes we were there during the torrential downpour - worse in 7 years so we were told. However we managed to do our inspections and were happy that none of the roofs were leaking! (Although the swimming pool was overflowing!).

Then there was a break in storm and it was just drizzling so we had a quick walk around Greenslopes to get some fresh air, and came across an open inspection! We couldn't resist it, so muddy and wet we tramped through the poor house! Actually I had never considered Greenslopes but rather liked the area after that walk around. It seems very reasonably priced for only 4 k from town but I'm probably missing something.
 
I'm a fan of Greenslopes too.. particularly Stones Corner. What are other's thoughts on it these days? and does anybody know why a lot of the retailers moved out a few years ago? Seems to be bustling again? just a change of scene from the clothes outlets to cafes etc.. ??
 
We live in Coorparoo, next door to Greenslopes and Holland Park. This area is pretty nice, easy living, close to shops, transport, five to ten minutes to the city (outside of peak hour) and has good schools close by.

Stones Corner was a great outlet strip until the DFO opened. It is pretty quiet now, but there are still deals to be found there. Someone told me recently it is going to be revitalised again, but I cannot remember any details. I'm not a big "shopper" so even when it was "outlet heaven" I was not a regular.
 
Ah, thats right.. DFO was the culprit. I too remember reading that the area was going to be gentrified..
Just found this pdf which has some info about the future plans of the eastern corridor. Interestingly Buranda will have a new village centre..
 
I have finally spent some time in Brisbane this week. Now looking at suburbs further from CDB than my Sydney/Melbourne properties. Have noticed property in Hamilton (new freehold townhouse - one of three) in Winchester street area. There is no value add opportunity but immediate good rental and great depreciation. I don't necessarily want to rennovate in Qld now as I live in NSW. However an older house requiring rennovation with more land area would probably be available for similar or lessor price.
Area doesn't appear to have a flooding issue according to BCC flood maps.
Any comments regarding this area (Hamilton/Hendra) would be appreciated.
Regards,
Harry
 
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