with $260k-$300k which area in Brisbane would you recommend?

[mixedup]

Just firmed up that we can afford IP of $260k-$300k at the moment.

Which area in Brisbane would you recommend for growth (rental house) for this price?

I'm starting to look currently around 3 areas (a) Darra/Inala/Richlands, (b) Ipswich, and (c) Springfield/Springfield Lakes.

 

[mja]

Just firmed up that we can afford IP of $260k-$300k at the moment.

Which area in Brisbane would you recommend for growth (rental house) for this price?

I'm starting to look currently around 3 areas (a) Darra/Inala/Richlands, (b) Ipswich, and (c) Springfield/Springfield Lakes.

Hi mixedup,

Cross Springfield/Springfield Lakes off your list unless you plan on just buying land... cheapest for sale in Springfield/SL is low to mid $300's.

I would suggest looking closer at Redbank Plains. I count 5 properties under $300k.

http://www.suburbview.com/view/QLD/Redbank+Plains/4301

HTH,

-- MJ.

 

[mystery]

Just firmed up that we can afford IP of $260k-$300k at the moment.

Which area in Brisbane would you recommend for growth (rental house) for this price?

I'm starting to look currently around 3 areas (a) Darra/Inala/Richlands, (b) Ipswich, and (c) Springfield/Springfield Lakes.

I believe your best opportunity for the amount of money you can access is in the Ipswich area, but be quick as the property market experts are predicting solid growth in 2008 for the area. The experts and market reports believe Ipswich has been overlooked by investors/homebuyers, but that will change this year..

Not much under the $300k if any in the other areas, ..... even if you do find something you'll have to have everything in place and move very quickly.

Good luck

 

[ianvestor]

Are you set on getting a house?

For that price, I'd rather go closer to the city and look for a 2 bedroom unit in a small block of 5 or 6 units.

 

[mixedup]

Are you set on getting a house?

For that price, I'd rather go closer to the city and look for a 2 bedroom unit in a small block of 5 or 6 units.

I guess I've just always assume a house based on general comments I see re houses appreciating more than units (and no body corporate woes etc). I'm open to advice from those who have IP experience however...

 

[WBG Redcliffe]

Banyo, Zillmere, Deagon, Bracken Ridge, Deception Bay, Morayfield. All good areas with 10% + potential for the next 12 mths IMO.

 

[Noeyedear]

Hi MixedUp,
I would advise to take a drive to Ipswich and check out the new Riverlink development. Also take a bit of time to check out what is being proposed for Ipswich in regards to infrastructure in the next 10 or so years. Might make your mind up for you.

Regards Bill

 

[mixedup]

Hi MixedUp,
I would advise to take a drive to Ipswich and check out the new Riverlink development. Also take a bit of time to check out what is being proposed for Ipswich in regards to infrastructure in the next 10 or so years. Might make your mind up for you. Regards Bill

I'll do this. I have been looking at the SE Qld Infrastructure Plan & Program for 2007-2026 however it seems to highlight more the Springfield & Ripley Valley specifically. I guess it highlights the improvements in Ipswich Rd (Ipswich to Brisbane) however. I'll have to re-read to see if it mentioned anything specifically re Ipswich, however perhaps this would be more of a local council thing(?)

 

[Noeyedear]

Some info here, http://www.ipswich.qld.gov.au/documents/business/econ_dev_newsletter_jan_08.pdf

Websites on last page.

Cheers Bill

 

[WBG Redcliffe]

Fenix,

Would be very difficult to find any sort of house for less than 300k in Redcliffe. maybe an old unit.

 

[fenix]

There are still some properties selling for under $300k.

A lot are between $300k and $350k.

There's quite a lot of old ones that would suit a person that wouldn't mind getting their hands dirty.

BTW, did you get my e-mail regarding Redcliffe?

 

[evand]

Morayfield went through the roof last year. At least 20%. And further growth is expected this year.

 

[fenix]

Sorry evand,

I meant the only one that grew 20% on the Redcliffe peninsula, not in general Brisbane suburbs.

But yeah, 20%+ is pretty crazy stuff.

 

[ianvestor]

I guess I've just always assume a house based on general comments I see re houses appreciating more than units (and no body corporate woes etc). I'm open to advice from those who have IP experience however...

Well, I stand by my statement that I'd rather buy a unit closer in. However please note that the kind of unit I would buy is very different from a CBD highrise.

The reason I say buy something with only 5 or 6 units in the block is because you then own a 5th or 6th of the land, plus you only have to deal with 5 other owners in the body corporate (so it is much easier to argue your case if you have a difference of opinion, than if you were up against 100 other owners in a CBD apartment).

I think the main reason people generally like houses is because of the land content, but this advantage can be wasted if the house you buy is in a poor location (By 'poor' I mean inferior, not necessarily financially poor), with lower capital growth prospects.

Of course if you had large pockets I would suggest buying a house close to the CBD, however with your budget I would rather sacrifice the dwelling type/size rather than sacrifice buying into a good location.

I am actually surprised by the number of people on this forum who invest outside capital cities. Specifically I am surprised because investors on this forum seem to be more focused on capital growth, and less on rental income than most forums, yet some are still suggesting Ipswich, Redcliffe, etc.

Doesn't make good sense to me.

-Ian

 

[fenix]

How close can you get to the city for $260-$300k as per the opening post?

 

[mixedup]

Hi Ian - do you have evidence that supports this? or if I look across recent growth of units <15km in and houses 15-40km out are you suggesting I should be able to prove to myself a unit closer in would be better for growth? (don't take my question the wrong way, I'm just trying to learn)

 

[WBG Redcliffe]

If you look hard you may find units at Nundah, Annerley both 7k's outish.

 

[ianvestor]

Hi Ian - do you have evidence that supports this? or if I look across recent growth of units <15km in and houses 15-40km out are you suggesting I should be able to prove to myself a unit closer in would be better for growth? (don't take my question the wrong way, I'm just trying to learn)

I'm sure there's a lot around, but I don't collect it.

What I mean to say is, that I read evidence in books, articles, news, etc. frequently but I don't record any of it other than what seeps into my subconsious.

Not very helpful I know but maybe someone more acedemic could provide an answer.

 

[sparky23]

You can get into Lowood for under well under $300,000 for older properties and a little over over for new house and land.

 

[seank]

Well, I stand by my statement that I'd rather buy a unit closer in. However please note that the kind of unit I would buy is very different from a CBD highrise.

The reason I say buy something with only 5 or 6 units in the block is because you then own a 5th or 6th of the land, plus you only have to deal with 5 other owners in the body corporate (so it is much easier to argue your case if you have a difference of opinion, than if you were up against 100 other owners in a CBD apartment).

I think the main reason people generally like houses is because of the land content, but this advantage can be wasted if the house you buy is in a poor location (By 'poor' I mean inferior, not necessarily financially poor), with lower capital growth prospects.

Of course if you had large pockets I would suggest buying a house close to the CBD, however with your budget I would rather sacrifice the dwelling type/size rather than sacrifice buying into a good location.


I am actually surprised by the number of people on this forum who invest outside capital cities. Specifically I am surprised because investors on this forum seem to be more focused on capital growth, and less on rental income than most forums, yet some are still suggesting Ipswich, Redcliffe, etc.

Doesn't make good sense to me.

That doesn't make sense... Yes units have had their fair share of growth over the last 12 months, however the prices being asked for units are practically the same if not more than houses in the same areas, if this was the case you would buy a house.
300k may get you an older style 80's brick -2 bed which would rent 300p/week at best ,which would be highly neg geared with body corps and 10% interest rates. Maybe the only upside is vacancy rates whichwill be very low, but who in brisbane can afford higher rents? which leaves you little room to increase, to improve cashflow
IMHO I think the outer suburbs still have alot of catch up to do in regards to capital growth, also yields are better helping with cashflow.
250-300k will get you an older style has, whilst still achieving similar if not better rents.