Woollongabba - The depot - off the plan

[YPG]

Has anyone looked at the depot in woollongabba?

Any thoughts?

http://www.realestate.com.au/property-apartment-qld-woolloongabba-109970566

10% deposit for 2014 completion
100 sqm - 2 bed 2 bath

I like the location and maybe this is the right time in the brisbane market to buy a property like this.

 

[Propertunity]

The only 2 times to buy OTP is either never or in a rising market with guaranteed equity locked in on settlement. Any other time, you are just gambling.

 

[JWR]

Yeah YPG not your best post

The rest are great though...

For that money you may as well buy your acerage in Oakey, a unit in GC for 150k (if you still want to waste your money) and a house in Ipswich dirt cheap.

In all seriousness - whilst a good suburb to invest (in terms of metro Brisbane) way overpriced considering its OTP.

Better to buy established houses which offer much better value atm.

 

[vbplease]

In all seriousness - whilst a good suburb to invest (in terms of metro Brisbane) way overpriced considering its OTP.

What would you consider a reasonable price? Considering boutique apartments are starting at $550k in near cbd locations.

 

[JWR]

Maybe its not overpriced - but I like buying everything way underpriced.

And also looking at the opportunity cost.

Will this 400k investment get me another 400k in 10 years with no holding costs? Or could I spread my risk in 2 or 3 locations and make a far greater sum in the same time with much less risk.

 

[boomtown]

You can buy a nice 2 bed in Kangaroo Pointfor that money and far superior location. Woolongabba is a **** location.