Woodridge

[MickInvestor]

I noticed that Margaret Lomas recommended Woodridge in SE QLD as a potential high growth area but I have also been told that Woodridge has a reputation as a "slum" type area and I imagine this is the reason that property is relatively cheap in that area.

Does anyone have an opinion regarding Woodridge or maybe has bought an IP in that area that could provide some more insight into the potential of the area?

Thanks in advance

 

[sailor]

When I first moved to Bris in 1972, Woodridge was definitely at the lower socio-economic end of Bris geography. Over the years it has developed a black/asian immigrant/poor white Aussie reputation, with a high crime rate. It definitely wouldn't be my choice for an IP unless I wanted to be a slum-landlord. I think there are so many other places one could get a bargain without the hassles.

 

[MickInvestor]

When I first moved to Bris in 1972, Woodridge was definitely at the lower socio-economic end of Bris geography. Over the years it has developed a black/asian immigrant/poor white Aussie reputation, with a high crime rate. It definitely wouldn't be my choice for an IP unless I wanted to be a slum-landlord. I think there are so many other places one could get a bargain without the hassles.

Thanks - any particular areas you'd recommend having a look at?

 

[Rixter]

Thanks - any particular areas you'd recommend having a look at?

Bayside suburbs of Wynnum, Manly, Wellington Point, Ormisiton & Cleveland.

Eastern Suburbs Carina, Carina Heights, Carindale.

Southern Suburbs Upper Mt Gravatt, Sunnybank, Sunnybank Hills, Calamavale.

Hope this helps.

 

[HandyAndy888]

I tend to disagree...my first investment was in Kingston, same negative attitude that, back a few years ago, was valid. HOWEVER< drive around Logan now and you will see a change. Not only that, but look at the prices for these suburbs....going through the roof...

 

[marg4000]

Margaret Lomas is probably correct, but mainly because Woodridge is coming off a low price base.

Growth should be good as lower house prices rise, but I would be concerned about the quality of tenants you will be dealing with. As always, and in any area, there are good and bad, but sadly Woodridge does not have the best of reputations.

However, if and when things improve the capital growth will reflect that.
Marg

 

[MickInvestor]

Thanks Rixter, HandyAndy and Marg. I greatly appreciate the advice.