Here’s where southern investors are buying up in Brisbane

6 Oct 2020 admin

first_imgSouthern investors are keen on properties such as this townhouse at 6/23 Railton St, Aspley which is looking for offers over $390,000.Research shows the trend of investing in South East Queensland while living in Sydney and Melbourne is on the rise.Peter Mastroianni, founder and director of, said momentum for the cross-border strategy was building.“Affordability issues aren’t something that’s evenly spread across the country and that’s why South East Queensland is such a drawcard,” he said.Mr Mastroianni cited analysis by advisory firm Herron Todd White which showed 13 per cent of first homebuyers are opting out of buying a home and instead purchasing an investment property while living with parents.“A comparable property down in Sydney is going to cost over $1 million and down in Melbourne it’s going to be pushing up to $900,000, but you could pick up something in Brisbane still around $600,000.“In greater Brisbane around Logan, Ipswich or the Moreton Bay region, you can pick up something with a three ($300,000) in front of it.”Mr Mastroianni said house-and-land packages on the Sunshine Coast where bringing in the southerners, as were the western corridor to Ipswich.“Spring Mountain (Ripley Valley) — new house-and-land estates are coming on line and it’s essentially a no-brainer for investors looking for potential satellite cities in good commutable distance.”More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours agoFor investors on a tighter budget, he saw potential in attached housing away from oversupplied centres. “I believe there’s a demand with units as well — and I’m not talking within five kilometres of the CBD or inner-CBD, but if you look at areas like Mt Gravatt and Holland Park as well as Coorparoo,” he said. “Aspley townhouses are proving quite popular as well. A recent contract we’ve processed out at Aspley at $460, 000 and that was probably the more expensive, or higher-end of the contracts we’ve been dealing with. Unit-wise, with two-bedders, they’re probably at the low $400,000s.“If you can put down a 10 per cent deposit, cover your costs and pick up something in the high $400,000s to low $500,000s and get a rental return of 4.5 to five per cent, or in some cases six per cent. The fundamentals stack up.”Mr Mastroianni said Brisbane looked prime for strong capital growth if government can help stimulate employment.“Brisbane’s a steady performer and the fundamentals are there. What would be really good to see is if the government can turn the ‘jobs tap’ on. Once employment starts really kicking up, I think that will have a significant impact on prices.“Brisbane — albeit that it’s been doing well ¬- it’s kind of just been chugging along. All eyes have been on Brisbane for a long time and it just hasn’t popped.”Follow Kieran Clair on Twitter at @kieranclair.last_img

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