I'm looking to buy a decent freestanding house within a commutable distance of the Brisbane CBD for under $750k as an investment. Which suburbs would the Brisbane locals suggest that I take a look at?
Thinking easy access to public transport, shopping, schools and not too much crime. I have been looking around North Lakes, Mango Hill, Petrie & Kippa-Ring but open to anywhere really.
I'm not
I am, but I'm about $6m short.
It all depends on your definition of commutable.
But for that price you're not buying anything that close. I'd probably use a site to determine a 30 minute driving distance from city and then look at the closest suburbs outside of that circle.
Also, on a personal note, investors suck. Really hope government fixes this whole situation.
Zero. Start looking west
Woodridge
Logan
Inala, Slacks Creek, Woodridge, Kingston. They all might be all shitholes now, but in 10 years time the price will move shitholes further out from the city.
I live in slacks creek and almost half of the shithouse crackden renters have been kicked out this year and heaps for sale but even now most are going for over $800k… although I wouldn't be buying in Woodridge, kingston still rough as I have to drive through them suburbs for work
My brother lives Inala way, he seems to like it, though he does have a Vietnamese partner and lived with Vietnamese friends for most of his 20s
There's actually over 40 properties for sale under $750k - just in the suburbs I have mentioned. Is one better than the other? I'm thinking commutable is anything less than 45-50 minutes on a train or driving into the city.
45-50 in like no traffic on a public holiday? Or peak hour on a rainy day?
Although there’s supposed to be protections against under quoting from stooge agents, we found the price was nowhere even in the same league as what price they actually wanted.
I guess I want to get as close to the city as I can within my budget. It appears that is quite achievable in the Mango Hill / North Lakes area. What are your thoughts on this area? Or too far out.
Depends on you I guess, work, culture, priorities etc
If I was in the same spot I would kind of prefer out west instead of up north, if it’s an investment does it really matter? Or you mean, it will be your ppor and in future you look to use it as an investment
I don't support buying investment properties, but in term of a place to live, in my opinion North Lake and Mango Hill are horrible, boring, surrounded by busy roads, nothing interesting nearby, and these facts means there will always be less potential for price growth. You will never get super-wealthy people wanting to live there. The closer you go to the ocean, the nicer the lifestyle, in my experience, and this means there is greater potential for price growth. So, if you're looking in the North in those suburbs you mentioned, Kippa-Ring is probably the best as it's less than 5 mins drive from beaches, waterside cafes and tourist spots. Kippa-Ring has probably experienced less growth in the past compared to its neighbouring suburbs as it's not directly on the water, while its adjacent suburbs are. However, it is still pretty conveniently placed, because in addition to being less than 5 mins drive to the water (Redcliffe, Scarborough, Newport), it also has its own train station with trains direct to the CBD, and it has the biggest shopping centre in the region. Furthermore, as the seaside suburbs become more built up with high-rise apartments, townhouses and mega-mansions, this will put more upward pressure on the price of normal housing in areas slightly away from the water.
Petrie is better than North Lakes, and has a slightly old-world feel in some areas, but it's not a super-popular tourist area like the seaside suburbs. Deagon (next to Sandgate) used to be affordable, but probably not anymore. Sandgate and Shorncliffe are very nice touristy seaside areas, but they're pretty much unaffordable now. In the South-West, Inala and surrounding suburbs are popular for Vietnamese and Indian communities, and are pretty good places to go shopping at food markets, and if you want genuine Vietnamese food. They have experienced a bit of growth over the past few years. But most of the houses in your price range are a bit old/dilapidated. You'd want to increase your limit by $100k or so to get a decent house.The Inner-West of Brisbane is completely out or your price range, as is the Eastern region near Manly, Wynnum, Victoria Point. On this Eastern side of Brisbane, you'd have to get a completely dilapidated (almost unliveable) house in Capalaba or Alexandra Hills, which is about 20 mins drive from the water and the M1, to meet your price range.
The Logan area is probably in your price range, but it's still horrible in my opinion, with nothing interesting nearby, unless you drive an hour down the highway to the Gold Coast.
In my opinion, in terms of potential for price growth, you want to be as close as possible to a beautiful (tourist-worthy) area, so you should drive around a bit, explore the areas you're interested in.
Keep in mind, I'm talking about houses. It's a completely different story for apartments. You can probably get apartments in your price range anywhere.
Great info. Thankyou. =)
So is everyone else…