Brisbane unit market?

[Mick and Andrea]

Hi all

Im starting look into Brisbane units.
Not inner city but in surrounding suburbs.

We have 400K to spend. Its for our SMSF so really would like to stay away from anything that needs fixing up or in need of too much maintenance (got enough of that already)

Ideally 2 bed with a garage sits with me pretty well. Ideally in a small to medium sized block (not keen on buying in a skyscraper block)

Don't want to go any further North than Kedron and any further South than Woolloongabba.

Im after peoples opinions regarding how soft the market is up there and also any particular suburb that they would look for any why?

Sorry guys silly question really but I'm a bit vacant at the moment and need some inspiration. I haven't lived in Brisbane for 6 years and as a result feel like I'm a bit out of touch.

Thanks

Mick

 

[Shahin_Afarin]

Is anyone else seeing a lot of activity around Kedron way? I have seen so many purchases in the area over the last 6-8 weeks.

 

[RPI]

We are starting to see some more inner city Off the Plan contracts coming through from purchasers. Have had a lot of unit purchases in inner North. I personally am a fan of the Woolloongabba area at the moment. There is quite a lot of high rise Apartment complexes in the planning pipeline at the moment and once constructed I think will change the area again. There is so much density coming in here that It is almost like it is going to be an extension of the CBD, minus the parking hassles.

 

[Mick and Andrea]

Thanks for the feedback so far.
Interesting stuff.

 

[Ricky Tarr]

St Lucia, Toowong, Indro.

There are 2 bed, 2 bath units within walking distance of UQ for under $400k

 

[LOAN]

Western suburb!!

 

[Angel]

Western suburb!!

And your point is ???

 

[Cherry Pro]

Not exactly St Lucia or Kedron but what do people think about holding these little pensioner units out Logan way in a SMSF

http://www.realestate.com.au/property-house-qld-woodridge-114170251

$160,000 for a pair of 1 bedders, renting at $340 per week. After body corp and all expenses this will give you around at least $30 per week in your pocket.

With our ageing population, can't see the demand for these slowing down and can't imagine being able to rebuild these for that kind of price.

 

[Mick and Andrea]

Thanks again.

After buying a few higher yielding property's in WA its hard to suck it up and look at lower yielding stuff again even if it is for our SMSF.

I never liked that sort of accommodation however Im betting that vacancy rates would be at an all time low and its a growing market and as its positively geared it sound pretty sound.

 

[JT7]

Larger 2 bed unit with LUG in a 6 pack in Coorparoo. Excellent amenities and access to public transport. The area is going to be developed into a major TOD and is very close to Brisbane CBD.

Mate of mine has 3 in Coorparoo and has been waiting for this development to get the nod for a long time. He will do very well out of Coorparoo I'd expect although it hasn't had a lot of growth since 2008 so probably excellent timing.

We're experiencing a rising market here in Sydney so won't be to long until Brisbane follows I'd expect.

Jack


http://www.brisbanetimes.com.au/que...nsit-oriented-development-20130717-2q3ln.html

http://love40percent.org/wp-content...-Development-in-South-East-QLD-Batts-2011.pdf

 

[Rixter]

I know you mentioned not south of the Gabba but have a look at Upper Mt Gravatt. Preferably a villa or townhouse - not high rise apartment with a balcony.

 

[Mick and Andrea]

Cooparoo and Mt Gravatt would might interest me. I might do a bit of looking into the yields there and see if they are much better than where I have been looking.
I bought a house in Moorooka back in 99 and was hoping to get a bit closer to the CBD with a superfund purchase.

I have been thinking of the units that Cherry Pro posted. Not interested in this sort of stuff though Im curious to see if I could get 80% lend on it in a SMSF as they might look at it as though it is more a commercial lend?? Probably pending how the title is? (though in reality I agree aging population, lower demographic area, affordable to tenants, low risk of an elderly tenant smashing the place up) I think would be low risk cash flow deal.