Brisbane has been gaining attention from many buyers given that it offers some of the best opportunities for investment in the country — from an easy-going lifestyle, new infrastructure spending, and ready coastal access, to affordable real estate.
Herron Todd White’s March issue of Month in Review revealed the different areas where properties can be bought for the capital’s median price.
Citing CoreLogic, the national property report said that Brisbane’s median house and unit price are approximately $550,000 and $380,000, respectively.
The mid-ring localities are deemed good investments and owner-occupier zones since homes may be near to transport options and essential services.
For the price of $550,000, prospective owners may explore Chermside, Nundah, Kedron and Stafford Heights, where original-condition, post-war homes through to 1980s-era dwellings provide entry-level buying. These dwellings may be improved with renovation.
In terms of units, a circa-2010 or later apartment that offer two-bedroom, two-bathroom, single-car accommodation can be found within the $380,000 to $400,000 median figure. Another selling point of these properties is the nearness of transport and essential services. This will make it easier to find tenants.
Brisbane’s mid-ring, meanwhile, boasts Holland Park, Annerley, Carina, and Carina Heights as promising options for property investment.
In a mirror of the north, original-condition post-war homes through to the 1980s-constructed properties can be snapped up for $550,000. Those who prefer a more contemporary property can look outside the CBD.
“The further out from the CBD you travel, the bigger the block and better the quality you can buy for your buck,” the report said.
Outer-ring localities to the north include North Lakes, Griffin and Mango Hill. These suburbs have great access to transport, services, facilities and lifestyle. They offer modern project-home options on a range of block sizes. The report highlighted that this is a great family location if the buyers are on a tight budget and if they want to score a property within the $500,000 bracket.
Outer localities in the south include Pallara, Springfield, Springfield Lakes, Redbank Plains and Collingwood Park. These are also the go-to areas for the Brisbane median value.
Overall, the older detached homes in the middle ring were identified as best prospects for investment. History shows that they have a higher potential for capital gain.
Like to talk to us about Renovating for Profit?