Zillmere Brisbane

[Zartsnarf]

hey guys just wanted to hear some people's thoughts on zillmere
I'm personally a fan due to the following reasons
15km to the CBD
Public transportation fairly close with its own train station wedged basically in the middle
Rental yields pretty decent with 4.5-5% and high rental demand
Fits my budget with the median price being around $400,000
Has it's a nice village shopping centre and some other amenities
And also wondering what people thought about this property
http://www.realestate.com.au/property-house-qld-zillmere-118816495
I'm considering buying it
Thanks ^_^

 

[beachgurl]

I have a house almost identical in design to this in Sydney, and the one I have was bought straight from the Department of Housing. If the designs were shared around the states I'd say this was an ex DOH too. Based on that, I'd see if the rest of the street was still DOH.

What is your risk tolerance? There is a lot of public housing in Zillmere. Have a look for other posts in Zillmere that have recommended certain pockets to buy and not to buy in. From experience, ex-DOH properties can bring in reasonable returns but also can give you bigger headaches either from challenging tenants (who are generally ex DOH and/or on welfare) or from their neighbours causing grief.

Personally, if it was in a street or area that was still highly populated with DOH residents, I wouldn't be buying a property that backs onto parkland. But if it looks like a great deal, it may be the one for you.

 

[C-mac]

I've only been holding in Zillmere for a couple of years now and whilst CG hasn't been great, rental returns are good here. I don't expect CG to go berserk in the short term; but I'm in this one for the long play, and with time I expect Zillmere to do quite well.

 

[Rixter]

What are you looking for the property to do for you? From your DD if you believe this property will move you a step closer to it and providing you're happy with managing the holding costs then it's a no brainer.

 

[Zartsnarf]

I'm in it for the long term just by the look of things in zillmere I thought it wasn't a bad place to buy and hold