Your top 5 suburbs
- Thread starter kerosam05
- Start date
thefirstbruce said:
I agree. Fortunately rail is close by.
Traffic management appears to me to be one of the major issues facing Brisbane. When we were there last year I couldn't believe how congested the roads where and very direct, few free flowing roads. It is actually easier to drive around Melbourne.
GarryK
Hi Tropic,tropic said:
Dont know if they will be the very best out of every other area but as theyre well known inner metro blue chip areas I can say they will always be highly sought after. Given the entrance prices required they certainly are Top end market stuff which in turn limits your prospective marketplace but if they have River/City views there definitely will not be an over supply.
Hi All
I'm new to the forum and still feeling my way around it,
my top picks are all in Sydney
Mount Druitt area
St Marys Area
Hawksbury region
Cambridge Park
Port Stephens/Nelson Bay
These are area's I invest in and firmly believe they are under valued area's with great infrastructure and capital growth prospects.
Dash
I'm new to the forum and still feeling my way around it,
my top picks are all in Sydney
Mount Druitt area
St Marys Area
Hawksbury region
Cambridge Park
Port Stephens/Nelson Bay
These are area's I invest in and firmly believe they are under valued area's with great infrastructure and capital growth prospects.
Dash
We didn't say the cheapest
Dash,
They didn't ask for the five cheapest areas, they said the top five.
Regards
Andrew
Dash,
They didn't ask for the five cheapest areas, they said the top five.
Regards
Andrew
skater said:I could have guessed you would have said that.
Skater , Dash wouldn't happen to be your auction " nemesis " would they ??
I think those areas will represent good value at some stage in the next cycle , but Mt Druitt has , in the past gone down for quite a while , and didn't move untill much of Sydney had moved significantly in the last cycle.
I can still remember people saying that you won't get any capital growth in Mt Druitt . I remember the same thing also being said about , tasmania , logan and rocky ...
Personally I'd be going closer to the city for any buys in Syndey in the next 2-4 years. Maybe in ani's hunting ground , city , inner west , ermington and lane cove and following on from Dash's Port Stephens suggestion , now Karuah has been bypassed, there might be a window of opportunity there or near by in North arm cove ( no , not the dodgy brother blocks ...) .
See Change
skater said:
I'll have to wait untill you two are having a weekend off , then there'll be no competition....
Welcome to the forum Dash.
See Change
Dash said:
Interesting mix, Port Stephens factors in well for growth prospects. Understand S-C's thoughts about Karuah, but it is a long term play in my opinion.
Tomaree Pennisular is a playground for Sydney siders and will always be in demand. Heck, just take a drive and have a look around.
voyager.
Stewie said:
Stewie, to tell you the truth, I am not that familiar with Sandstaone Point. I know it is north of Beachmere, but haven't got intimate with it. Will do so though in a few weeks, as I am looking around Beachmere again. Things have eased there and there's a fair amount of stock coming on stream. The thing I like about Beachmere is it's a 7 min trip into Caboolture cbd, and you're right on the bay and the place will never be overdeveloped. However, might be a bit slower ramping up in price but a sure thing in my eyes....
But then again, maybe I am just fussy. For the last 2 days, I have been up north checking out Yeppoon and Emu Park and Keppel Sands and am not that keen on them. Though a lot of people are.....Was with a few locals last night for dinner at Yeppoon with million dollar views. But I just can't see the town ever developing a lot of style or culture.
My top 5
Being a Victorian I of course will also give you my top picks in Cairns hehehe
Victoria - For no good reason other than I made them up based on what I have been looking at lately in my now spare time!!!
Coburg - I have been looking at some good returns on commercial here
Ascot Vale - residential - mainly doer-uppers
Watsonia - good returns at cheap price in ex housing commission area - I have one of these with excellent tenant
Montmorency - because I know it so well and know the prices are still going up - and very little left vacant for very long
South Yarra - still some reasonable priced units and with the commonwealth Games coming up some good rental returns in the short term
Cairns
Yorkeys Knob - I have just been there for yet another week and you can watch the prices going up - still some reasonable priced units - the new ones are two blocks back from the beach and three times the price
Manoora - some areas here are superior to the top suburbs - the views from some of these homes are fantastic but the price is lower - it can't last
Edge Hill - Still some good buys around - I looked at a 3 br with 1 bathroom that I reckon I could have picked up for 230k
Whitfield - same as above
Machan's - I know its full of sand flies and the planes make a lot of noise but it is beachside and very close to town
Feel free to argue
Chris
Being a Victorian I of course will also give you my top picks in Cairns hehehe
Victoria - For no good reason other than I made them up based on what I have been looking at lately in my now spare time!!!
Coburg - I have been looking at some good returns on commercial here
Ascot Vale - residential - mainly doer-uppers
Watsonia - good returns at cheap price in ex housing commission area - I have one of these with excellent tenant
Montmorency - because I know it so well and know the prices are still going up - and very little left vacant for very long
South Yarra - still some reasonable priced units and with the commonwealth Games coming up some good rental returns in the short term
Cairns
Yorkeys Knob - I have just been there for yet another week and you can watch the prices going up - still some reasonable priced units - the new ones are two blocks back from the beach and three times the price
Manoora - some areas here are superior to the top suburbs - the views from some of these homes are fantastic but the price is lower - it can't last
Edge Hill - Still some good buys around - I looked at a 3 br with 1 bathroom that I reckon I could have picked up for 230k
Whitfield - same as above
Machan's - I know its full of sand flies and the planes make a lot of noise but it is beachside and very close to town
Feel free to argue
Chris
Brisbane (from a unit perspective):
Toowong/St Lucia
Two inner-city (3-4km) suburbs on Brisbane's Westside (north of the river, but west in terms of direction) packed with units and students - a great combination if there's ever been one….as such, you’re looking at consistently high yields (5.5%-6.5%)...
Units always come onto the market and you can find 20-30yr old, 2 bdr 1 bth between $185k and $220k quite easily. With any combination of a new lick of paint, new flooring , semi-furnished and air con you're looking at anywhere from $240-$300 per week rent...you do the maths.
Wolloongabba
2-3km inner city south. Stuff the swampland, this very light industrial/semi-business area is full of potential and on the verge of a major breakthrough (actually, its strange how the Brisbane City Council has held off developing it for so long when surrounding areas such as South Bank, Stones Corner and West End are way more bustling and hustling).....
At the moment you have the massive residential unit development on the corner of Vulture Street and Ipswich Roads, and the slow but sure (anyone notice the huge new multi-level pub/bar/restaurant near the old post office?) beautification of the 2-3 km Vulture street strip that runs all the way from the Stanley Hotel down to the Mater Hospital. This area will become the pre-eminent destination for Brisbane’s inner city south – well, it has to as logic dictates than no suburb so close to a major city in Australia stays under-developed for so long.
Oh yeh, you got the Gabba Cricket Ground and 2 of the 3 big Brisbane hospitals in Princess Alexander and the Mater, at your fingertips.
Nundah
6-7 km suburb on Brisbane’s northside
There’s major rumblings here….the upgrade of Toombul shopping centre, the massive new Woollies, the newly-opened DFO discount clothing store near the airport, the planned 18-holf golf course in the same area, easy access to both the Sunshine coast and Gold Coast via the Gateway motorway, close to King-of-the-hill suburbs of Ascot and Hamilton and their café/dining society, close to Chermside Shopping Centre, right next door to the multi-faceted offerings of Clayfield, it goes on and on…prices for units (haven’t been looking at houses) are way below anything you’ll find in say other unit-packed suburbs such as Coorparoo, Stones Corner, Kedron, Toowong, Auchenflower, New Farm. Sure, the yields aren’t as good but the capital growth will be the big pay-off. Relevantly speaking, I believe you’ll get more bang for your dollar.
My last 2
New Farm – always popular, always will be and still a bargain to be found….you can bet your life on it when the next boom starts in Sydney and slowly filters up here, that New Farm will be the first to ignite along with Hawthorn and West End. But like I said, a bargain to be found.
West-End – read New Farm, but more in terms of long-term growth....not so much for the bargain hunters but for the sit-and-wait approach….sure, you could say the same about any suburb, but in terms of affordability, rental yield, CBD proximity, you'll be hard-pressed to find anything better
George
Toowong/St Lucia
Two inner-city (3-4km) suburbs on Brisbane's Westside (north of the river, but west in terms of direction) packed with units and students - a great combination if there's ever been one….as such, you’re looking at consistently high yields (5.5%-6.5%)...
Units always come onto the market and you can find 20-30yr old, 2 bdr 1 bth between $185k and $220k quite easily. With any combination of a new lick of paint, new flooring , semi-furnished and air con you're looking at anywhere from $240-$300 per week rent...you do the maths.
Wolloongabba
2-3km inner city south. Stuff the swampland, this very light industrial/semi-business area is full of potential and on the verge of a major breakthrough (actually, its strange how the Brisbane City Council has held off developing it for so long when surrounding areas such as South Bank, Stones Corner and West End are way more bustling and hustling).....
At the moment you have the massive residential unit development on the corner of Vulture Street and Ipswich Roads, and the slow but sure (anyone notice the huge new multi-level pub/bar/restaurant near the old post office?) beautification of the 2-3 km Vulture street strip that runs all the way from the Stanley Hotel down to the Mater Hospital. This area will become the pre-eminent destination for Brisbane’s inner city south – well, it has to as logic dictates than no suburb so close to a major city in Australia stays under-developed for so long.
Oh yeh, you got the Gabba Cricket Ground and 2 of the 3 big Brisbane hospitals in Princess Alexander and the Mater, at your fingertips.
Nundah
6-7 km suburb on Brisbane’s northside
There’s major rumblings here….the upgrade of Toombul shopping centre, the massive new Woollies, the newly-opened DFO discount clothing store near the airport, the planned 18-holf golf course in the same area, easy access to both the Sunshine coast and Gold Coast via the Gateway motorway, close to King-of-the-hill suburbs of Ascot and Hamilton and their café/dining society, close to Chermside Shopping Centre, right next door to the multi-faceted offerings of Clayfield, it goes on and on…prices for units (haven’t been looking at houses) are way below anything you’ll find in say other unit-packed suburbs such as Coorparoo, Stones Corner, Kedron, Toowong, Auchenflower, New Farm. Sure, the yields aren’t as good but the capital growth will be the big pay-off. Relevantly speaking, I believe you’ll get more bang for your dollar.
My last 2
New Farm – always popular, always will be and still a bargain to be found….you can bet your life on it when the next boom starts in Sydney and slowly filters up here, that New Farm will be the first to ignite along with Hawthorn and West End. But like I said, a bargain to be found.
West-End – read New Farm, but more in terms of long-term growth....not so much for the bargain hunters but for the sit-and-wait approach….sure, you could say the same about any suburb, but in terms of affordability, rental yield, CBD proximity, you'll be hard-pressed to find anything better
George
Not that Ive been anywhere near the market for a while, but Ive got an itch again...
In Sydney...
1/. Hillsdale
2/. Redfern and surrounds (looking even better from what Ive read so far)
3/. Wooloomooloo
4/. McMahons Point
5/. Houseboat on the harbour
In no rush though - 4d's will be putting plenty on the plate by now Id imagine (havent those interest rate rise papers Ive been leaking to BIS turned up yet)
In Sydney...
1/. Hillsdale
2/. Redfern and surrounds (looking even better from what Ive read so far)
3/. Wooloomooloo
4/. McMahons Point
5/. Houseboat on the harbour
In no rush though - 4d's will be putting plenty on the plate by now Id imagine (havent those interest rate rise papers Ive been leaking to BIS turned up yet)
I couldn't agree more! I'd like to see some of these 185-220k units though? Most of the older 2 bedroom units around my area (St Lucia) seem to be around the 250k+ mark, I'd love to be pointed in the correct direction of these cheaper ones if you could offer some insight.
On a side note - does a unit being this old mean you cannot claim a tax deduction on building depreciation? Memory tells me July 1985 onwards?
On a side note - does a unit being this old mean you cannot claim a tax deduction on building depreciation? Memory tells me July 1985 onwards?
grubar30 said:
hey vandalic,
here 2 recent examples
1) A unit in the same complex as mine at Elizabeth Street, Toowong sold for $205K some 4-5 months ago....its in original condition, cavity brick, 2 bdr, 1 bath....agent was Doug Disher at Toowong
2) 2 bdr, 1 bath, brick veneer unit with little gated backyard (very rare) sold at Qunin Street around 2 months ago...not sure for what price but it was listed at $189K or maybe $185K...anyway, it was one of the two....now that's cheap...agent was PRD at Toowong
I inspected both these units - first one was wasn’t very hard being only 4 steps away - and they were structurally sound and decent in size @ ~80-85m2....lick of paint, new floors, blinds, air con, down lights, bathroom, kitchen, whatever and your looking at a good rental increase.....
I just went thru one of these reno's (ie, Elizabeth St)…..bought a 2bdr, 1bth unit in August 2004 for $208K...rented it for 6 months at $235 pw...after that lease ran out in late Feb 2005, I moved in, got another loan for $20K and went to work on my reno.….put in brand new bathroom and toilet (totally gutted and re-built), downlights, power points & light switches, wooden Venetian blinds, wooden floating floors, air con, new paint throughout, coffee table/lounge (all cheapies from IKEA), Washing machine/dryer/fridge.…came to roughly $16K give or take a couple of hundred dollars...about to put it back on the rental market in a couple of weeks time at between $280-$300 (according too two independent rent appraisals)....
so in terms of rent, that’s a jump of at least $45 (if it rents for $280).....take into account the weekly repayments on the $20K reno loan (6.82%, IO, 30yr) at $37 pw and I’m already up $8....not much I hear you say, but now add the deprecation schedule which states I'm owed an avg. of $15 pw for at least the next 5 years and I’m suddenly up $22....not only that, but the place was re-valued by the bank at $245 – way more than the $208K I paid for it and still more if you add the $20K reno loan......
In summary – I’m now in a better position both in terms of rent and equity.
As for where these cheap units are???……where they always are - realestate.com.au, domain.com.au, Real Estate liftout in w/e Courier Mail….keep your eye on the ball every day or so and you'll see them
good luck...
George
here 2 recent examples
1) A unit in the same complex as mine at Elizabeth Street, Toowong sold for $205K some 4-5 months ago....its in original condition, cavity brick, 2 bdr, 1 bath....agent was Doug Disher at Toowong
2) 2 bdr, 1 bath, brick veneer unit with little gated backyard (very rare) sold at Qunin Street around 2 months ago...not sure for what price but it was listed at $189K or maybe $185K...anyway, it was one of the two....now that's cheap...agent was PRD at Toowong
I inspected both these units - first one was wasn’t very hard being only 4 steps away - and they were structurally sound and decent in size @ ~80-85m2....lick of paint, new floors, blinds, air con, down lights, bathroom, kitchen, whatever and your looking at a good rental increase.....
I just went thru one of these reno's (ie, Elizabeth St)…..bought a 2bdr, 1bth unit in August 2004 for $208K...rented it for 6 months at $235 pw...after that lease ran out in late Feb 2005, I moved in, got another loan for $20K and went to work on my reno.….put in brand new bathroom and toilet (totally gutted and re-built), downlights, power points & light switches, wooden Venetian blinds, wooden floating floors, air con, new paint throughout, coffee table/lounge (all cheapies from IKEA), Washing machine/dryer/fridge.…came to roughly $16K give or take a couple of hundred dollars...about to put it back on the rental market in a couple of weeks time at between $280-$300 (according too two independent rent appraisals)....
so in terms of rent, that’s a jump of at least $45 (if it rents for $280).....take into account the weekly repayments on the $20K reno loan (6.82%, IO, 30yr) at $37 pw and I’m already up $8....not much I hear you say, but now add the deprecation schedule which states I'm owed an avg. of $15 pw for at least the next 5 years and I’m suddenly up $22....not only that, but the place was re-valued by the bank at $245 – way more than the $208K I paid for it and still more if you add the $20K reno loan......
In summary – I’m now in a better position both in terms of rent and equity.
As for where these cheap units are???……where they always are - realestate.com.au, domain.com.au, Real Estate liftout in w/e Courier Mail….keep your eye on the ball every day or so and you'll see them
good luck...
George
Thanks for the excellent response, I have been trawling the real estate sites and papers for a while, plan to keep a detailed eye out for the next 6 months. I would love to buy in this area (I currently rent in St Lucia) but don't really want to pay more than 200, so I'm kinda dreaming without doing a bit of a reno .
Thanks again.
Josh
.Thanks again.
Josh
